Chap. 322.—An ACT to incorporate the Chester Clay working com-
pany.

Approved May 20, 1887,

1. Be it enacted by the general assembly of Virginia, That
J. W. Phillips, George M. Wilson, R. A. Dunlop, M. T. Clark,
G. E. Robertson, and A. Gary, their associates, assigns, and
successors, are hereby constituted a body politic and corpo-
rate by the name of the Chester Clay working company, and
shall have all the rights, powers, and franchises necessary for
the purpose of working, buying, and selling articles made
from clay or other material.

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 gencral
powers and functions conferred upon chartered companies by
chapter fifty-seven of the Code ot Virginia of eighteen hun-
dred and seventy-three, and shall be subject to all its pro-
visions except as far as the same are moiiticd by or are In-
consistent with this act.

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

4. The said company shall have authority to hold one
thousand acres of land in any county within the common-
wealth, provided the total amount of land so held does not
exceed ten thousand acres.
5. The principal office of the compeny shall be in the city
of Richmond.

6. The directors of said company may open books for sub-
scription of company from time to time as they may deem
expedient, and may receive in payment for any subscription
of stock of sail company, any property adapted to the uses
of the company.

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

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

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