Chap. 300.—An ACT to inaxporate the Big Stone Gap mining, trans-
portation, and development company.

Approved February 29, 1888.

1. Be it enacted by the general assembly of Virginia, That
John M. Bailey, John L. Wellington, I. Wilder, George A.
Blackmore, and William F. Rhea, of Washington county,
Virginia; George H. Towle, of Boston, Massachusetts; Wil-
liam D. Jones, of Philadelphia; J. B. Richmond, H. C. Wood,
Patrick Hagan, and M. B. Wood of Scott county; Monroe
Flanary, J. F. Bullitt, junior, H. C. McDowell, junior, and
Creed Flanary, of Wise county; and Harvey Young, of Lee
county, Virginia; or such of them as shall within thirty days
accept the provisions of this act, their associates and succes-
sors, be and they are hereby incorporated and made a body
politic and corporate under the name and style of Big Stone.
Gap mining, transportation, and development company, and
by that name shall be known in law, and have perpetual suc-
cession, 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 may alter or renew the same at pleasure; and shall have,
enjoy, and exercise all rights, powers, and privileges pertain-
ing to corporate bodies and necessary for carrying out the
provisions of this act; and may make by-laws, rules, and reg-
ulations consistent with the 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
ten thousand dollars, nor more than ten million dollars, and
shall be divided into shares, the par value of which shall be
one hundred dollars each, and the directors may sell said
shares of stock or any part thereof, at such price as they may
deem to be to the best interests of the company, and may
receive real or personal properties or services in payment
therefor at such valuation as may be agreed upon between
the directors and the purchasers,

3. The said company is authorized and empowered to pur-
chase, hold, own, lease, and control in any manner, grant,
bargain, sell, mortgage, convey, and otherwise dispose of real
and personal properties of any kind in this state or elsewhere:
provided, that said company shall not own more than twenty
thousand acres of land in any one county in this state at any
one time; and the said company is authorized and empow-
ered to lay out said lands or any part thereof into parcels or
lots of convenient size, with roads, lanes, streets, and alleys,
and develop, work, improve, and cultivate, or otherwise use
or dispose of the same in such manner and upon such terms

"as the said company may think proper; and the said com-
pany shall have the right to construct and maintain, within
any city, town, or village which the said company may plot
or lay out, street railroads, or in any other city, town, or vil-
lage, with the consent of its council, and operate the same by
steam, electric, or animal power; and erect and operate water
works and gas works or other systems of illuminations, The
said company may also build, construct, and operate tram-
ways and railroads with tracks of wood, iron, or steel, from
the lands of the said company to connect with such other
railroads, mines, or manafacturing establishments which, in
the judgment of the board of directors, shall seem advan-
tageous to the company, or offer sufficient tonnage to justify
their construction. And the said company is authorized to
transport logs, lumber, coal, ores, merchandise, and other
freight and passengers: provided, that it shall not discriminate
in favor of its own products against those of other persons,
but shall in all matters of transportation upon its tramways
or railroads be subject to the laws of the state controlling
common services; and the said company may also construct,
maintain, and operate pipe lines, tanks, and all other appur-
tenances, for the purpose of conducting, storage, and handling
gas, oil, or other liquids, and for the purpose of constructing,
maintaining, and operating any of the above works, the said

,company shall have all the rights, powers, and privileges
which are given to internal improvement companies by the
general laws of the state.

4, The said company is authorized and empowered to bore

and operate wells of gas, oil, or other liquids, and to mine
and quarry coal, iron, or marble, and other mineral substances,
and to prepare and manufacture the same for use and sale in
all manner ot forms it may adopt, and to manufacture and
prepare for market and sale all other raw materials, mineral
or vegetable, and for this purpose may erect and operate all
kinds of furnaces, mills, manufactories, coke-ovens, machinery,
and other works necessary for the enjoyment of the privileges
herein granted, to the fullest and most ample extent.

5. The seven persons first named in this act shall consti-

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tute the first board of directors of the said company, one of:
whom they shall elect president; they shall adopt a code of
by-laws, appoint a secretary and treasurer, and when so or-
ganized, they shall be authorized to change the corporate |
name of said company if deemed advisable, fix the amount of ‘
the capital stock, and to exercise all the powers conferred by
this charter; the secretary shall certify said organization on
the books of the company, a copy of which, duly attested by
a notary public, shall be received in all courts and elsewhere
as evidence of the legal organization of the company. They
shall continue in office for one year and until their successors
are elected by the stockholders. Each stockhalder in the
company shall, at all meetings or elections, be entitled to one
vote for each share of stock registered in his name.

6. The board of directors may establish offices and agen- |
cies at such places as they may deem proper; but the an- |
nual meetings shall be held at Big Stone Gap, and the prin-
cipal office shall be located in the state of Virginia.

7. No stockholder shall ever be liable or made responsible |
for its debts and liabilities ina larger or further sum than’
the amount of any unpaid balance due to the said company
on account of stock purchased from the company by the said
stockholder.

8. This charter herein granted, except as to matters here-.
in specially provided for, is hereby declared to be subject to |
the provisions of the general law in regard to chartered com-
panies 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. When-
ever this corporation shall exercise any of the privileges con-
ferred by this act, it shall be liable to the same taxes as may
be imposed by law upon other like corporations: and it is
further provided that the said taxes shall be paid in the law-
ful money of the United States and not in coupons. And the
said company may unite, consolidate, or merge its rights,
powers, privileges, franchises, and properties with those of
any other incorporated company, full power being given to:
any such company to form such union, consolidation, or mer- |
ger, and the company formed by the union, consolidation, or
merger of this company with any other company or compan-
ies, shall have, possess, and enjoy, to the fullest and most am-
ple extent, all the rights, powers, privileges, and franchises,
which, at the date of such union, consolidation, or merger,
each and every, the said companies possessed.

9. This company, so far as its properties are located and '
operations are conducted within this state, shall always re- {
main a Virginia corporation, and subject to the jurisdiction
of its coprts.

10. This act shall be in force from its passage. (