Chap. 139.—An ACT to incorporate the Rockbridge company.
Approved May 6, 1887.

1. Beit enacted by the general assembly of Virginia, That
Francis O. French, John J. McCook, Henry G. Woolcott, F.
T. A. Junkin and John White, of New York; Francis T.
Anderson, Alexander Bruce, A. T. Barclay, William A. An-
derson, and R. H. Catlett, of Virginia, and such persons as
may be associated with them and their successorr, are hereby
created and constituted a body politic and corporate by the
name and style of the Rockbridge company; and by such
name shall have perpctual succession, may contract and be
contracted with, sue and be sued, make and use a common
seal and alter the same at pleasure, and make and maintain
such by-laws, rules, and regulations for the government of
said corporation and the conduct of its business as may be
deemed necessary, not to conflict with the laws or the consti-
tution of this State, or of the United States.

2. The capital stock of said company shall not be less than
two hundred thousand dollars, to be divided into shares of
one hundred dollars each, and the same may from time to
time be increased by additional subscriptions or the issue and
sale of shares to such amount not exceeding five million dol-
lars, as the stockholders at any general or special meeting

may authorize and prescribe. The said company may receive
subscriptions to its capital stock or payment for its shares so
issued, in moncy, land, or other property, upon such terms as
shall be agreed or authorized by the board of directors, and
said company may give a preference to a portion of its capi-
tal stock over the residue thereof as to dividends and the
payment thereof.

3. The corporators herein above named, or any three of
them, may receive subscriptions to the capital stock of said
company, and when the minimum capital of ten thousand
dollars shall have becn subscribed, the said subscribers may
organizo said company by the election of five directors; of
whom they shall elect one as president, t6 remain in office
one year and until their successors are elected, unless sooner
removed by the stockholders. After oreanization as afore-
said, the stockholders at any general mecting may change
the number of directors, and may provide for the proper
government of the corporation by such by-laws as they may
deem fit and proper, as herein above authorized. The board
of directors may appoint such subordinate ayents and officers
of the company as they may deem necessary for the proper
dispatch of the business of the company.

4. The said company is hereby authorized to carry on the
business of mining and manufacturing any of’ the ores, mine-
rals, metals, materials, or products of this State, and may
conduct said business at one or more points in the counties of
Rockbridge, Amherst, Bedford, Botetourt. or either of them,
and in any other counties of this and other States in which
the said company may deem it proper to acquire property
or establish works for that purpose; and for these purposes
the said company shall have authority to buy, hold, sell, lease,
or otherwise dispose of any real or personal extate deemed
necessary to the proper prosecution of ity business, and may
on uny property so acquired, erect and maintain ‘buildings,
machinery, and structures needful for smelting, manufactur-
ing, and treating ores, metals, and minerals of whatever kind,
or for the production of manufactured fabrics from wood,
stone, metals, wool, cotton, hemp, or other materials; and
may operate, lease, sell, or otherwise dispose of the same, and
may on its own land contiguous or adjacent to any such
manufactory or works erected, or to be erected, survey and
lay out lots, squares, or other divisions of such lands, and
improve the same by buildings or otherwise, for sale, lease, or
other disposition or use, and may establish such lawful rules
and regulations in the use thereof as the board of directors
of said” company may deem best to secure the comfort and
welfare of the occupants and others engaged or interested in
any manufactory or works there established or to be estab-
lished, and the said company may, in connection with the use
or improvement of any of its properties, make, build, and
operate any canals or waterways or tramways or railways
operated by horse or steam power, not oxceeding twenty
miles in length; and for this purpose, when necessary, may
acquire by contract or by condemnation, such land or other
property or rights of way as may be necessary therefor, pro-
ceedings for such condemnation to be in accordance with
chapters fifty-six and fifty-seven of tho Code of Virginia, and
any laws amendatory thereof. It shall be lawful for said
company to lay out and establish a town upon such portion
of its lands as it may select or set apart for that purpose, and
to improve the same, and to establish and construct water
works for supplying the inhabitants of such town with w ater;
and may acquire the land necessary for such water works by
purchase, contract, or condemnation—proceedings for such
condemnation to be in accordance with the provisions of said
chapters fifty-six dnd fifty-seven of the Code of Virginia.

5. It shall be lawful for said company to sell its bonds from
time to time, for such sums and on such terms as its board of
directors may deem expedient and proper in the prosecution
of any of its works or business, and may secure the prayment
of the principal and interest thereof, by mortgages or deeds
of trust upon all or any portion of its property, rights, and
franchises, including its franchises to be a corporation; and
it shall be lawful for said company to subscribe to, and hold
shares in the capital stock of any railroad company or other
corporation, whenever the board of directors shall deem it to
be to its interest todoso. Kach stockholder in said company
shall be entitled to one vote for cach share beld by bim, and
no stockholder shall be held individually liable for the debts
or liabilities of the company in any larger or further sum
than to such amount as may be due and unpaid severally
upon his stock subscription.

The acceptance of this charter, and organization § there-
under, shall be deemed to be a waiver by said company ot
any right to pay any taxcs or dues, or assessments hereafter
made from said company to the State of Virginia in coupons
of this State, and shall be taken as an agreement on the part
of said company to pay all of said dues, taxes, and assess-
ments in lawful money of the United States.

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