Chap. 34.—An ACT to incorporate the Prince William improvement
comipany. )

Approved March 31, 1887.

1. Be it enacted by the general assembly of Virginia, That
E. E. Meredith, W. W. Kincheloe, James Otterson, George R.
Starkey, Henry B. Plumer, George 8. Foster, C. E. Nicol, and
Edwin Nelson, or such of them as may accept the provisions
of this act, their associates and successors, are hereby con-
stituted a body politic and corporate by the name of the
Prince William Improvement Company, and as such may
have all the privileges, franchises, and immunities applicable
to such a corporation under the laws of Virginia.

2. The capital stock of said company shall not be less than
twenty-five thousand dollars nor more than one million dol-
lars, divided into shares of ten dollars each; and for the pur-
pose of obtaining subscriptions to said capital stock, any three
of the persons named in the first section, may open books of
subscription at any time and place, of which they shall give
thirty days’ notice in a newspaper published in the city of
Alexandria. :

3. The said company shall have power to purchase, hold,
lease, and sell real estate and personal property; to mine,
manufacture, and transport all brown stone, marble, and other
stone, all minerals and metals, and their products; to give
and receive; to secure loans by mortgage or deed of trust; to
Build dams and canals, mills and furnaces, and tram-roads and
railroads connecting its mines or works, and from any of its
lands to any works of internal improvement and operate the
same; and for this purpose shall have all the privileges and
powers, and be subject to all the conditions prescribed by the
laws of Virginia: provided that no such railroad shall be
over filty miles in length.

4. The said company shall have the power to build all ne-
eessary sidings to its railroads, and condemn all necessary
land for depot and terminal facilities, and shall also have the
power to unite, consolidate, or conneet its railways with any
line of railway constructed, or which may be consttruced in
this State. upon such terms as may be agreed upon between
it and such other railway company, and tor this purpose
power is hereby granted to it, and to any railroad company
incorporated hy this State, to make and carry out such con-
tracts by lease, purchase, or otherwise as will facilitate and
consummate such connection or consolidation.

5. Any railway, steamship ,or Navigation company with
which said Prince William improvement company may con-
nect, is hereby authorized to subscribe to the capital stock of

said company, and the stock so subseribed shall have the
same privileges and powers and be subject to the same con-
ditions and regulations as the stock held by other stoekhol-
ders therein.

6. The said company shall have the power to build, pur-
chase or lease docks, wharves, and yards tor the building or
repairing of vessels; to build or repair railroad cars, and to
envage in the manufacture of any other article; and to pur-
chase, lease, or erect and construct anywhere on the Potomac
river, Wharves, piers, docks, basins, warehouses, elevators,
Cotton presses, suitable for the accommodation of steamships,
vessels, and boats, and for the convenient loading, unloading,
shipping, receiving and storing of all kinds of merchandise
and personal property for safekeeping, and may conduct the
business ustially transacted by warchousemen, warfingers and

lightermen, and may charge and collect compensation for the
storage, dockave, wharlawe, and lighterage, and for all labor
incident thereto, including the expense of weighing, Insuring,
keeping, and delivering such merchandise or personal prop-
erty at such rates and on such terms as may be agreed upon
between jt and its customers, and for any advances made by
it on merchandise or property stored or deposited with it tor
shipment, and for all its charges and expenses incident
thereto, the said company may have a preterred lien on said
merchandise and property, which shall be paid before said
company shall be required to deliver the same.

7. ‘The capital stock of said company shall be personal
property, and transferable on the books of the company, and
lands or qaterials or securities, as well as money, may be
received on stock subscriptions: provided that before organi-
gation, all such subscriptions not pavable in money, shall be
certified to be at or below actual value by at least three of
the persons named herein; and that after or ganization the
board of directors shall not be authorized to receive any sub-
scriptions, except by resolution of the stockholders, under a
vote, in which three-fourths of the stock paid tor, shall be in
the athrmative.

8. The said company may hold lands not exceeding twenty
thousand acres in any one county, and its principal office
shall bein Prince Wilham county, but it may have branch
offices In the cities of Philadelphia, Pennsylvania, and Wash-
ineton,. District of Columbia.

9. ‘Phe said company can sue and be sued. have power to
make and use a common seal, and to change the same at will;
and shall have all such other powers, rights. and privileges as
are necessary and proper for them to have and possess as an
Incorporated Company, hot Inconsistent with the laws and
constitution of this State.

10. ‘The president and directors of said) company may
enact such by-laws and regulations for the management of
the affairs of said company as they may deem expedient, the
same being consistent with the laws and constitution of this
State.

11. All taxes. ducs or demands, due 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.

12. The said company shall commence work within two
years from the passage of this act and complete its work
within four years.

13. This act shall be in force from its passace.