Chap. 390.—An ACT to incorporate the Herald Publishing Company
of Martinsville, Virginia.

Approved May 23, 1887.

1. Be it enacted by the general assembly of Virginia, That
L. S. Thomas, J. A. Brown, C. T. Noel, M. C. Lawence, George
O. Jones, and W. R, Lawence, and such other persons as may
hereafter be associated with them, and their successors, are
created a body politic and corporate, under the name and
style of the Herald publishing company; and as such shall
have perpetual succession, possess all the privileges and pow-
ers of corporations, and authorized to do all the acts neces-
sary for carrying on a general newspaper and publishing and
printing business at Martinsville, Henry county, Virginia.

2. The capital stock of said company shall be nat less than
two thousand five hundred dollars, and not more than twenty
thousand dollars, in shares of fifty dollars each: that is to
say the par value of each share shall be fifty dollars, which
shares may be disposed of in such manner as may be deemed
expedient.

3. When the minimum amountof the capital of the company
shall have been subscribed, the subscribers may organize by
electing five directors, who shall constitute a board for the man-
agement of the affairs of the company, and the said directors
from among themselves, and the other stockholders shall elect
a president, a secretary and treasurer and a general manager,
and the stockholders of said company may pass all such by-
laws and regulations and provide tor the employment of such
other officers, agents, and employees as they may deem neces-
sary and proper tor the conduct and management of its affairs.

4. In each re-electing of the stockholders, cach share of
paid-up stock shall be entitled to one vote to be cast in person
or by proxy, and the holder or holders of a majority of said
stock may call a meeting of stockholders at any time.

5. The said company may purchase, bold, sell, and convey
any or all real estate, which is necessary for the proper con-
duct of its business.

6. All debts, taxes, and demands due the commonwealth
shall be paid by said company in currency and not in cou-
pons.

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