Chap. 318.—<An ACT to incorporate the Bristol-Goodson water com-
pany.

Approved May 20, 1887,

1. Be it enacted by the general assembly of the State of
Virginia, That R. M. Page. ‘Francis Preston, A. D, Reynolds,
J. F. Hicks, and John RB. ‘Dickey, of Washington county, Vir-

sinia: Rufus A. Ayers, of Sc ‘olt county, Virginia: Peter A.

. Widener and William I. Elkins, of ‘Philadelphia, and C,
L. James, of Boston, Massachusetts, and such other persons
as they may associate with them, and their successors, are
hereby created a body corporate and politic, under the name
and style of the Bristol-Goodson water company, and are inves-
ted with all the powers, franchises, and priv ileges of a corpo-
ration not inconsistent with the laws of the State of Vir-
ginia and of the laws of the United States.

2. The purposes and objects for which said company is
incorporated and which it is authorized to effect, and the
construction on any plan that may be approved, of reservoirs,
storage basins, force pumps, stand pipes, engines, and any and
all the fixtures and appurtenances which may bv necessary
therefor, and the laying of pipes, main and lateral, to convey
water from any source or sources to the town of Bristol,
Tennessce, and Goodson, Virginia, and for these purposes it
shall have all the rights, grants, privileges, and franchises
necessary to carry into effect the purposes, objects, and intents
of said company.

3. The said company is authorized to contract and agree
with the owners of any lands in Washington county, or in
the counties adjacent thereto, for the use or purchase thereof,
for the convenient location of any of their works; and in
case of a disagreement, or if the owner thereof be a feme
covert, under age, non compos mentis, out of the State or
unknown, the said company shall have the right to condemn
such lands as may be necessary for the building of its works
or any of them in the manner prescribed by the fifty-sixth
chapter of the Code of Virginia, eighteen hundred and sev-
enty-three.

4. The capital stock of said company shall not exceed five
hundred thousand dollars, to be divided into shares of one
hundred dollars each.

5. There shall be as many directors for said company as
may be fixed by the by-laws, to be elected by the stockhold-
ers annually. The persons named in this act or such of
them as shall accept the provisions thereof, shall constitute
the tirst board of directors of the said company, and shall
continue in office until the first meeting of the stockholders
thereof. One of their number shall be chosen by the others
as president, and the president and directors may appoint all
officers, agents, and employees, and fix their compensation.
The board of directors may opon books of subscription at
such times and places as they see fit. When twenty-tive
thousand dollars are subscribed to the capital stock, the com-
pany shall be deemed legally organized.

6. The president and directors may issue bonds or certiti-
cates of indebtedness, bearing interest not to exceed six per
eentum per annum, pay able semi- annually, and pledge the
property and profits of the company for the payment thereof,
and may convert the said bonds or certificates of indebted-
ness into capital stock of said company with the consent of
the holders thereof.

7. It shall be lawful for the said company to sell and dis-
pose of its water tothe towns of Bristol, Tennessee, and of Good-
son, Virginia, to the inhabitants thereof, to other corpora-
tions or persons, and to the government of the United States.
for such time, in such manner, and at such rates as to it shall
seem fit, for the benefit of the company.

8. This act shall be in force from its passage