CHAP. 141.—An ACT to amend sections 2, 4, and 5 of the act
approved May 6, 1887, entitled an act to incorporate the Rock-
bridge company.

Approved January 31, 1890.

1. Be it enacted by the general assembly of Virginia,
That sections two, four, and five of the act approved May
sixth, eighteen hundred and eighty-seven, entitled “An
act to incorporate the Rockbridge company,” be amended
and re-enacted so as to read as follows:

§2. The capital stock of said company shall not be less
than two hundred thousand dollars, to be divided into
shares of one hundred dollars each, and the same may be
from time to time increased by additional subscriptions
or the issue and sale of shares to an amount not exceeding
five million dollars. ,

The said company may receive subscriptions to its capi-
tal stock, or payment for its shares so issued, in money,
land, or other property, upon such terms and at such prices
for the shares of its stock as shall be agreed upon or author-
ized by the board of directors; and said company may
give a preference to portions of its capital stock over the
residue thereof as to dividends and the payment. thereof,
and may create or issue two or more classes of stock, according
to the preference or preferences so given, and designate
the same accordingly.

$4. The said company is hereby authorized to carry on
the business of mining and manufacturing any ores, min-
erals, metals, materials, or products, and may conduct said
business at one or more points in the counties of Rock-
bridge, Amherst, Bedford, Botetourt, or either of them,
and in any other counties in this and other states in which
the said company may deem it proper to acquire property
or establish works for that purpose; and for these pur-
poses the said company shall have authority to buy, hold,
sell, lease, or otherwise dispose of any real or personal
estate deemed necessary to the proper prosecution of its
business; and may on any property so acquired erect and
maintain buildings, machinery, and structures needful
for smelting, manufacturing, and treating ores, metals,
and minerals of whatever kind, or for the production of
manufactured fabrics from wood, stone, metals, wool, cot-
ton, hemp, or other materials, and may operate, lease, sell,
or otherwise dispose of the same; and may, on its own
lands, survey and lay out lots, squares, or other divisions
of such lands, and improve the same by buildings or other-
wise, for sale, lease, or other disposition or use; and may
lay out a town or towns, or town sites in any of said coun-
ties, and may divide the same into blocks, lots, or squares,
and may lay out and construct streets through the same,
and may establish such lawful rules and regulations for
the use of said lots, squares, streets, and town sites as the
board of directors of said compahy may deem best to
secure the comfort and welfare of the occupants or tenants
of such lands and lots, and others interested in any
manufactory or works there established or to be estab-
lished; and the said company may, in connection with
the use or improvements of any of its properties, make,
build, and operate any canals or water-ways, or any pipe-
line and tramways or railwavs operated by horse or steam
power, or hy electricity, not exceeding twenty miles in
length: and said company may construct highways, roads,
and streets through any lands owned by the company, and
for «a distance not exceeding one mile from any lands
which the said company may own, which the board of
directors may deem it expedient to build, construct, or
operate: and said company may acquire, by contract or
condemnation, any lands or property, rights, or rights of
way for the purpose of making and building any such
canal, water-way, pipe-line, or railway or tramway not
exceeding twenty miles in length, and may acquire, by
contract or condemnation, any land or property, rights, or
rights of way which may be needed for the purpose of
constructing any highway, road, or street not exceeding
one-half a mile from any land which the company may
own. The proceedings for any such condemnation shall
he in accordance with the provisions and requirements of
chapter forty-six of the code of Virginia, edition of
eighteen hundred and eighty-seven, and any laws amend-
atory thereof.

And the said company may establish and operate water-
works, gas-works, electric light plants, electric power plants
and electric plants for any purpose, and all machinery,
structures, appliances and fixtures necessary for the pur-
pose of supplying water, water power. motive power, gas,
or electric lights and other conveniences to factories, or to
persone and corporations, residing or doing business in
or near any town which said company may lay out; and
may quarry and cut stone, manufacture china or glass
ware, make brick, cut and saw timber, dig sand and
clav, and use and sell the products of any such work ; and
may build, own, establish and conduct one or more hotels,
upon any land owned or leased by the company; and
mav do any act necessary for the successful prosecution
of any of the above busineses.

S5. It shall be lawful for said company from time to
time to sell its bonds and ?fs shares of stock for such sums or
prices and on such terms as the hoard of directors may
deem expedient and proper in the prosecution of any of
its works or business, and may secure the payment of the
principal and interest of its bonds by mortgages or deeds

25
of trust upon all or any portion of its property, rights and
franchises, including its franchises to be a corporation:
and it shall be lawful for said company to subscribe to
and hold shares in the capital stock of any railroad com-
pany or other corporation, whenever the board of direc-
tors shall deem it to be toits interest. todoso. Each stock-
holder in said company shall be entitled to one vote for
each share held by him, and no stockholder shall be held
individually liable for the debts or liabilities of the com-
pany in any larger or further sum than to such amount as
may be due and unpaid severally uporthe shares of stock pur-
chased or subscribed for by him at the agreed price thereof.
2. This act shall be in force from its passage.