Chap. 38.—An ACT to incorporate the Crimora Manganese Company.

Approved January 24, 1888.

1. Beit enacted by the general assembly of Virginia, That !
Isaac Rounwald, William Brookfield, Jefferson M. Levy,
Alden S. Swan and W. W. Flannagan, of New York, William
White, junior, of Pennsylvania, and C. H. Harmon, John L.
Cockran and John B. Moon, of Virginia, and their associates
and successors, be and they hereby are constituted and made
a body politic and corporate by the name and style of the
Crimora Manganese Company, and by that name and style «
shall have all the rights, powers and privileges conferred by, ;
and be subject to all the provisions of the general laws of
Virginia in reference to corporations and chartered companies
so far as the same may be applicable to and not inconsistent
with the provisions of this act: and provided however, that
the corporate powers hereby granted shall not cease, or bein
any way impaired by reason of anything contained in section
thirty-six or section thirty-eight of chapter fifty-seven of the
Virginia Code of eighteen hundred and seventy-three, or sec-
tions eleven hundred and forty-one or eleven hundred and
forty-three of the Virginia Code approved May sixteenth,
eighteen hundred and eighty-seven.

2. The capital stock of the said company shall be not less «
than one hundred thousand dollars, and shall be divided into
shares of one hundred dollars each, and the amount of the
same may be increased from time to time by the board of
directors, and such board may issue shares of stock and sell
the same at such price as may be fixed end agreed to by them,
and may in their discretion receive pay tor such shares in:
property or money and may issue shares of stock to represent
enhanced value of its property.

3. The first meeting of the corporators hereinbefore named,
shall be held in the town of Charlottesville, Virginia, as soon
as a majority of such corporators may convene, and upon the
said minimum amount of capital stock being taken or sub-
scriber for, then such meeting, if attended by a majority of
said corporators, shall constitute the first general stockholders’
meeting; and the general annual meeting of such stockholders
shall be keld annually thereafter in the said town or at such
other time and place as the stockholders in general meeting
may appoint, and the principal office of the said company '
shall also be in the said town or at such other place as the |
stockholders in general meeting may designate.

4. No stockholder shall be liable on account of his stock
further than for any unpaid subscription he may owe thereon.

5. The board of directors shall consist of five members, :
who shall, from their number, choose a president, and who ‘
may appoint such officers or agents as they deem necessary
or proper; but the stockholders may, in general meeting, in-
crease the number of such directors.

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6. The said company may prospect for, explore, work, de-
velope, improve and manage mineral properties and mines of
manganese, iron and other substances; may acquire and hold
by purchase, lease or otherwise real and personal property,
and may also sell, encumber, lease or otherwise dispose of the
same; may engage in any mining, manufacturing, agricul-
tural, commercial or carrying business, and may borrow and
lend money on mortgage or other security. And the said
company shall be authorized and empowered to build, main-
tain and operate tram roads and wagon roads, and to connect
by railroads the different works or properties which it may
own or acquire with each other, and also with the lines of
other railroads now or hereafter constructed in this state;
such connecting railroads to be constructed, operated and
maintained in all respects pursuant to the laws of the state
in reference to works of internal improvement: provided
however, that no such railroad shall be of greater length than
forty miles; and the said company may, pursuant to such
laws, construct, operate and maintain dams, pipes, mains and
conduits for the purpose of carrying water to their mines
and works, but no such pipe, main or conduit shall be so con-
structed of greater length than five miles.

7. Any other corporation may hold shares of stock in the
said company, and the said company may in like manner
hold shares of stock in any other corporation in all respects
as a natural person.

8. This act shall be in force from its passage.