Chap. 127,—An ACT to change the name of the Virginia Boom and
Log company to Clinchport Improvement company, and to amend
sections 1, 2, 3 and 6 of its charter.

Approved February 14, 1888.

1. Be it enacted by the general assembly of Virginia, That
sections one, two, three and six of an act entitled an act
to incorporate the Virginia boom and log company, approved
February twenty-fourth, eighteen hundred and eighty-six, be
amended and re-enacted so as to read as follows:

§1. Be it enacted by the general assembly of Virginia, |
That Charles L. James, E. B. Abbot, J. M. Barker, 8S. Law-
rence French, J. M. Bailey, Creed F. Flanary, H.S. K. Morri-
son, J. H. Wood and William G. Sheen, or such of them as
may accept the provisions 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
Clinchport improvement company, and by that name shall be
known in Jaw, 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
they may make and have a common seal, and they may alter
or renew the same at pleasure; and shall havo, enjoy and ex-
ercise all rights, powers and privileges pertaining to corporate
bodies and necessary for the purposes of this act; and may
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 properties, and the due and orderly
conduct of its affairs.

§2. The capital stock of said company shall not be less
than five thousand, nor more than two million dollars, as may
be determined by the stockholders at any general meeting,
and shall be divided into shares, the par value of which sha
be one hundred dolla®, andthe directors may sell said' shares
of stock, or any part thereof, at such prices as they may deem
to be to the best interest of the company, and may receive
real or personal properties or services in payment for sub-
scriptions to the capital stock at such valuation as may be
agreed upon between the directors and the subscribers.

§3. The said company is authorized and empowered to
urchase, hold, own, lease and control in any manner, grant,
argain, sell, mortgage, convey, and otherwise dispose of real

and personal estate in this state or elsewhere: provided said
company shall not own more than ten thousand acres of land
at any one time in any one county, and the said company is
authorized and empowered to lay out said lands, or any part
thereof, into parcels or lots of convenient size, with roads,
lanes, streets and alleys, and to develop, work, improve and
cultivate, or otherwise use or dispose of the same in such man-
mer and upon such terms as the said company may think
proper; and the said company shall have the right, to con-
struct, maintain and operate within any city, town, or village
which the said company may plat.or lay out, street railroads,
whether operated by steam, electricity or animal power, also
water works for the purpose of supplying water for manu-
facturing and other purposes; also gas works or other sys-
tems of illumination; and the said company may erect and
maintain booms upon or across the Clinch, Powell’s and the
North folk of the Holston rivers, or any of the tributaries to
them, at such point or points within the state of Virginia as
the directors of the said company may determine, for the
purpose of stopping and securing logs and other lumber and
timber floating upon said rivers or the tributaries thereto;
and may erect piers and side or branch booms and such other
structures and appliances as the company may deem neces-
sary for the proper prosecution of its business; and the said
company having erected a boom, or booms, at any point, or
points, on the above mentioned streams, shall thereafter keep
the said boom or booms, open and in good order to receive
any and all logs and other timber and lumber floating down
the said rivers: provided, that after the erection of a boom
upon any of the said streams, every person running, driving,
or placing logs in the stream or any of its tributaries above
the point where the said boom is located, shall affix a distin-
guishing brand or mark upon all and every the logs and
pieces of timber placed in the said stream, which brand or
mark shall be described and recorded in the clerk’s office of
the county wherein the said boom shall be situated, and the
like description of each person, brand or mark shall also be
furnished to the said company. The said company shall be
entitled to receive as compensation for catching, securing and
holding said logs, lumber and other timber, a sum, in the dis-
cretion of the company, not exceeding two dollars per thou-
sand feet, board measure; which toll or boomage shall be due
and payable within thirty days from the time the logs or
other lumber is received in any of the said company’s booms;
and the said company shall have a lien on each brand or mark

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of logs or other lumber received within any of its booms
for toll or boomage aforesaid ; and if the said toll or boomage
shall remain unpaid for over thirty days after the said brand
or mark of logs shall have been received in the boom or
booms, of the said company, then the said company shall ad-
vertise the said brands or marks of logs or other lumber for
two weeks in a newspaper published in the county where the
boom is situated, setting forth the kind and amount of each
brand or mark of logs or other lumber, together with the
time and place where the said brands or marks of logs or
other lumber shall be sold at public auction, and from the)!
proceeds, after paying the expenses of advertising and con-
ducting the sale and the toll or boomage and all other lawful
or proper charges, the residue, if any remains, shall be paid
to the owner or owners, of the brands or marks sold.

§ 6. And for the purpose of carrying out the provisions of |
this and the preceding sections, and for the erecting of the '
said booms, appliances and other necessary structures, the
said company, or any ot its servants or agents, shall have the
right to enter upon any lands alongside or adjacent to the
said streams, or for the purpose of 1emoving any logs or tim-
ber which may have been floated thereon by high water or
adverse currents; and the said company shall have the right
to acquire such tracts of land, not exceeding five acres in any
one parcel, as the company may deem necessary for the
transaction of its business; and if the company and owner,
or owners thereof, cannot agree as to the compensation to be
paid for the said tracts or parcels of land, the matter shall

e settled as provided in chapter fifty-six, Cede of Virginia,
eighteen hundred and seventy-three. And for the purpose
of building piers, dams and other structures, the company
shall have the right to take earth, rock, timber or other ma-.
terials as is provided in chapter fifty-six, Code of eighteen
hundred and seventy-three, section twenty-eight, with refer-
ence to internal improvement companies.

2. That all taxes due the state shall be paid in currency, :
and not in coupons. C :

3. This act shall be in force from its passage. ,