CHaP. 11.—An ACT to incorporate the Bedford electric company.

Approved December 19, 1889.

1. Be it enacted by the general assembly of Virginia,
That R. Kenna Campbell, Samuel M. Bolling, Martin P.
Burks, James M. Berry, George L. Colgate, and J. Law-
rence Campbell. and such others as are now or hereafter
mav he associated with them, shall be and are hereby cre-
ated a body politic and corporate, under the name and
style of the Bedford electric company, and as such and by
said name shail have perpetual suecession, may sue and
be sued. inplead and be impleaded, contract and be con-
tracted with. mav make and have a common geal, and
alter and renew the same at pleasure; shall have, exercise
and enjov. all the rights, powers and privileges pertaining
to corporate bodies, and necessary for the purpose of this
act, and make all proper by-laws, rules and regulations.

2. Said company shall have power to establish and main-

tain in or near the town of Liberty, in the county of Bed-
ford, one or more electric plants for the purpose of furnish-
ing electric light, power and traction to the public and to
private individuals and corporations; may manufacture,
furnish and deal in electrical supplies of every descrip-
tion, and construct and install electrical plants at any
point, and shall have power to equip, maintain and con-
duet in and near said town, or from said town to any rail-
road in said county, railways propelled bv electricity or
other power. and toown and operate in said town or county
telephone or telegraph lines, and to manufacture and fur-
nish light for public and private use by electricity, gas or
other means of illumination. And said company may
alien or encumber, lease, sell, dispose of or convey any
part of the property which it may own; but so far as said
company shal] use the streets of said town or the roads of
said county for the purpose of erecting and maintaining
thereon poles, wires and necessary fixtures, or placing
thereunder pipes or conduits for the proper conduct of
this business, such use shall be made of said streets or
roads without detriment fo the public engagement of the
same,and subject to the consent of the municipal authori-
ties of said town or the county court of said county, res-
pectively.

3. Said company shall have .power to acquire and hold
all real estate necessary for the purposes of its business
and sell and convey the same, or any part thereof, and
shall have power to borrow money and to issue or sell its
honds from time to time for such sums and on such terms
as its hoard of directors may deem expedient and proper
in the prosecution of its work, and may secure the pay-
ment of said bonds by mortgages or deeds of trust upon
all or any portion of its properties or franchises, including
its franchises to be a corporation.

4. The capital stock of said company shall not be less
than thirty thousand dollars ($30,000), and may be in-
creased from time to time to anv amount not exceeding
one million dollars by subscription or by the issue and
sale of shares the par value of which shall be one hundred
dollars, under such regulations and upon such terms as
the board of directors shall from time to time prescribe;
and the directors may receive labor, supplies, materials
and other property, real, personal or mixed, in payment
for capital stock at such valuation as may be agreed upon
between the directors and subscribers or purchasers, and
to deliver therefor certificate or certificates for so many
paid up shares of stock as may be agreed upon. And the
incorporators herein mentioned, or any one or niore of
them, may transfer to said company for so much paid-up
stock of said company as may he agreed upon amongst
themselves, any rights, privileges, franchises, contracts,
options, or other properties of any kind or description
whatsoever, owned by them, respectively.

5. The said company shall issue certificates of stock in
said company to the subscribers or purchasers thereof in
shares of not less than one hundred dollars each. The
said certificates shall be transferrable on the hooks of the
company by the said subscribers or purchasers, their per-
sonal representatives or duly authorized agent or attorney,
and when so transferred, new certificates of stock shall
be issued in lieu thereof to the persons entitled thereto.

6. No stockholder in said company shall be held or
made responsible for its debts and liabilities in a larger
or further sum than the amount of any unpaid balance
due to the said company for stock subscribed for by said
stockholders.

7. The said company for the purpose of locating, laying,
constructing and operating its railways, or its conduits
and pipe and pole lines, and acquiring the land or rights
of way required therefor, or for other proper purposes of
its business, may enter upon lands and acquire by -con-
demnation, according to the laws of Virginia, the lands
and rights of way required by the company from time to
time therefor.

8. The persons named in this act, or such of them as
shall accept the provisions thereof, shall constitute the
first board of directors of said company, and shall con-
tinue in office until the first meeting of stockholders held
to elect directors. At such meeting, and at every annual
meeting, so many directors shall be elected as may be pre-
scribed by the laws and regulafions of said company, who
inay be removed by the stockholders in general meeting,
but, unless so removed, shall continue in office until their
successors shall be elected and qualified.

9. A board of directors shall be elected from the stock-
holders of said company, and said board shall elect ‘one
of their number president, and may fill any vacancy that
may occur in said board, and shall appoint subordinate
officers and agents, and take from them such bonds and
security as they shall deem proper.

10. All taxes due the commonwealth by said company
shall be paid in lawful money of the United States.

11. This act shall] be in force from its passage.