Chap. 462.—An ACT to incorporate the Southern Paper and Pulp
company.

Approved March 6, 1888.

1. Be it enacted by the general assembly of Virginia, That
Everett Waddey, Reuben Sherriffs, C. W. Tanner, A. L.
Ellett, junior, 8. P. Stringfellow, and E. B. Addison, their
associates, assigns, and successors, are hereby constituted a
body politic and corporate by the name of the Southern
Paper and Pulp company, and shall have all the rights, pow-
ers, and franchises necessary for the purpose of making paper
and pulp from wood or any other substance.

2. Any four of the corporators hereinbefore named, may
organize the said company by electing a president and board
of directors, who may elect and appoint such other officers,
and make such by-laws as may be necessary for the proper
management of the said company’s affairs; and thereupon
the said company shall have and exercise all the general
powers and functions conferred upon chartered companies by
chapter fifty-seven of the Code of Virginia, of eighteen hun-
dred and seventy-three, and shall be subject to all its provis-
ions, except as far as the same are modified by or are inconsist-
ent with this act.

3. The capital stock of the said company shall not exceed
two hundred thousand dollars, nor be less than twenty thou-
sand dollars, to be divided into shares of the par value of
one hundred dollars each. Each share of stock shall be en-
titled to one vote.

4. The said company shall have authority to hold two
thousand acres of land in any county within the common-
wealth: provided the whole amount of land so held does not
exceed twenty thousand acres.

» 5. The principal office of the company shall be in Rich-
mond. The directors of said company may open books for
subscription to the capital stock of said company, from time
to time, as they may deem expedient, and may receive in

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payment for any subscription of stock of said company, any
property adapted to the uses of the company, or which, or
its proceeds, may be useful in carrying out the objects of the
said company.

6. The directors shall have power to issue bonds in sums
of one hundred dollars and multiples thereof, and may secure
the same by mortgages or deeds of trust.

7. All taxes, dues, or demands due the state, or to become
due by this company to the state of Virginia, shall be paid
in lawful currency of the United States, and not in coupons.

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