Chap. 353.—An ACT to incorporate the Bristol Slate and Mining
: | company.
Approved March 1, 1886.

1. Be it enacted by the general assembly of Virginia, That
F. H. Hendricks, D. W. Frizell, A. D. Reynolds, M. M. Butler
and Charles Finch, or such of them as may accept the provi-
sions of this act, their associates and successors, be and they
are hereby incorporated and made a body politic and corporate
under the name and style of The Bristol Slate and Mining
Company, and by that name shall be known in law, and shall
have perpetual succession, and have power to sue and be sued,
plead and be impleaded, defend and be defended, in all courts,
whether in law or equity, and may make and have a common
sea], and alter or renew the same at pleasure, and shall have,
enjoy and exercise all the rights, powers and privileges pertain-
ing to corporate bodies, and necessary for the purposes of this
act, and make by-laws, rules and regulations consistent with
existing laws of the state, for the government of all under its
authority, the management of its estates and properties, and
the due and orderly conduct of its affairs.

2. The capital stock of said company shall not be less than

one thousand dollars, and may be increased to any amount, not
to exceed one half million dollars, by issue and sales of shares
thereof, not less than ten dollars each, from time to time, under
such regulations as the board of directors of said company
shall, from time to time, prescribe; and the directors may re-
ceive real or personal property in payment of subscriptions to
the capital stock, at such valuation as may be agreed upon be-
tween the directors and the subscriber.
_ 3. The said company 1s authorized and empowered to pur-
chase, hold, own, lease and control, in any manner, grant, bar-
gain, sell, mortgage, convey and otherwise dispose of real and
personal estate in this state or elsewhere.

4. The said company is authorized and empowered to mine
and quarry slate, coal, iron-ore, marble and other mineral sub-
stances, and prepare for market and sale all other raw materials,
mineral or vegetable, produced by its own lands, or obtained
from others; and for this purpose may erect and operate all
kinds of furnaces, mills, manufactories, cok@ovens, works and
machinery necessary for the enjoyment of the privileges herein
granted to the fullest and most ample extent.
5. The five persons first named in this act shall constitute the
first board of directors of the said company, and shall continue
in office until the first meeting of the stockholders thereof. At
such first meeting, and at every annual meeting, so many di-
rectors shall be elected as may be prescribed by the by-laws
and regulations of said company, who may be removed by the
stockholders in general meeting; but unless so removed shall
continue in office until their successors shall be elected and
qualified. Each stockholder in the company shall at all meet-
ings or elections thereafter, be entitled to one vote for each
share of stock registered in his name.

6. The board of directors shall be stockholders of said com-
pany. They shall appoint one of their number president, aad
may fill any vacancy that may occur in said board, unless by
removal, in which case the same shall be filled by the stock-
holders in general meeting. Whenever the minimum amount
of capital stock herein named shall have been subscribed, and
the board of directors shall have elected a president, said com-
pany shall be considered legally organized, and may proceed
to the transaction of business. The board shall appoint, to hold
during its pleasure, the subordinate officers and agents of the
said company, prescribe their compensations, and take from
them such bonds, with such security as they may deem fit.

7. The board of directors may establish offices and agencies
at such places as they may deem proper; but the principal
office of the company shall be located at the town of Goodson,
Virginia.

8. The annual meeting of the stockholders of the said com-
pany shall be held at Goodson, in Washington county, Virginia,
on the first Wednesday of February of each year, or on such
other day, and at such other place, as the stockholders may,
by resolution adopted in any annual meeting, to take effect at
the next annual meeting, prescribed. A general meeting of the
stockholders of said company may be held at any time as pro-
vided for by the tenth section of chapter fifty-seven of the Code
of Virginia, edition of eighteen hundred and seventy-three.

g. The said company shall issue certificates of stock in said
company, to the subscribers thereof, in shares of not less than
ten dollars each, signed by the president, and countersigned by
the secretary of said company. The said certificates shall be
transferable only upon the books of the company, by the said
subscribers, their personal representatives, or duly authorized
agent or attorney; and the said certificates when so transferred,
as aforesaid, may be returned to the said company and’ can-
celled, and new certificates of stock shall be issued in lieu
thereof to the person entitled thereto, for a like number of
shares. :

10. The stockholders in said company shall never be liable
or made responsible for its debts and liabilities in a larger or
further sum than the amount of stock subscribed for by said.
stockholders. 9

11. Whenever this corporation shall exercise any of the
privileges conferred by this act, it shall be liable to the same
taxes as may be imposed by law upon other like corporations
or persons exercising like privileges, and all taxes shall be paid
in money and not in coupons.

12. The charter hereinbefore granted, except as to matters
herein otherwise specially provided for, is hereby declared to
be subject to the provisions of the general law in regard to
chartered companies and corporations, as expressed in the
Code of Virginia, edition of eighteen hundred and seventy-three,
chapters fifty-six, fifty-seven, fifty-eight, fifty-nine and sixty-
one.
13. This act shall be in force from its passage, but the gene-
ral assembly of the state of Virginia reserves to itself the right
to modify, alter or repeal this at any time hereafter,