Chap. 423.—An ACT to incorporate the Botetourt improvement com-
pany.

Approved May 24, 1887.

1. Be it enacted by the general assembly of Virginia, That
John W. Johnston, E. Dillon, R. H. T. Adams, F. B. Deane,
J. Z. Schultz, John M. Cunningham, William Jolliffe, and
their associates, be and are hereby created a body politic and
corporate by the name of the Botetourt improvement com-

any, and assuch 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 nor more than three hundred thousand
dollars, in shares of one hundred dollars each, and for the
purpose of obtaining subscriptions to the 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 ten days notice in a paper published in the city ot
Richmond. }

3. The said company shall have power to purchase, hold,
lease, and sell real estate and personal property; to mine,
manufacture, and transport all raw materials and their pro-
ducts; to give and receive credit, to secure loans by mort-
gage or deed of trust, to lay out manufacturing sites and
town lots, and sell, lease, or donate the same, to build dams,
canals, mills, kilns, furnaces, and tramways or railways con-
necting its mines, quarries, and works; and from any of its
lands to any works of internal improvement, and operate the
same: provided that none of such tramways or railways shall
be more than twenty miles in length.

4, The capital stock of said company shall be personal
property, and transferable on the books of the company; and
land, material or securities, as well as money, may be received
on stock subscriptions.

5. The said company may hold land not to exceed twenty-
five tLousand acres in any one county at any one time; its
principal operations shall be located in the counties of Bote-
tourt, Giles, Craig, Bland, Tazewell, Russell, Scott, Wise,
Lee, and its taxes shall be paid in money and not in coupons.

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