Chap. 257.—An ACT to incorporate the Richmond and West Point
land navigation company.

Approved May 16, 1887.
1. Beit enacted by the general assembly of Virginia, That
T. M. Logan, James H. Dooley, E. D. Christian, P. H. Adams,

Calvin S. Brice, James B. Pace, and John H. Inman, their
associates and successors, or a majority of them, are hereby
constituted and created a body politic and corporate by the
name of the Richmond and West Point land navigation and
improvement company.

2. The capital stock of said company shall be four hun-
dred thousand dollars, to be divided into shares of one hun-
dred dollars each, and the stock may be issued in exchange
for, or fur the purchase of lands, steamboats, vessels, building
materials, or the stocks or bonds of other corporations. For
the purpose of making such purchases or exchanges, the
capital stock may be increased from time to time, and in such
amounts as the majority in interest of the stockholders may
direct, and may be disposed of upon such terms as the board
of directors may determine.

3. The said company shall have the power to buy and sell
lands; to hold as much real estate as the purposes of this act
may require; to purchase or construct steamboats or other
vessels, and to own and navigate the same to the ports of
this or any other country; to” construct and operate one or
more hotels in the town of West Point or in the county of
King William; to construct and operate street railways in
the town of West Point or county of King William; to con-
struct and opcrate cotton compresses; to construct and ope-
rate warchouses and wharves; to mine marl beds and to sell
the products thereof; to charter vessels, steamboats or trains,
and to lay out parks and to adorn and beautify the same.

4. The board of directors of said company shall consist of
not less than five nor more than thirteen members. The offi-
cers shall be such as may be elected by the board of directors.
The board shall have power, in the event that it shall be
found necessary to increase the capital stock, to determine
how much of the increase shall be common and bow much
shall be preferred stock.

5. The company may issue bonds for such sums as may be
ordered by the stockholders, and secure the same by mort-
gage upon its property.

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