CHAP. 209.—An ACT to incorporate the Round Mountain Mining
and Manufacturing company.

Approved February 17, 1890.

1. Be it enacted by the general assembly of Virginia,
that C. G. Holland, J. D. Blair, John F. Rison, A. S. Bu-
ford, barman Newberry, W. F. Peery, H. C. Alderson, J.
Wilcox Brown, Rohert A. Lancaster. James H. Young. Dec.
W. Thom. William FE. Turner. and such persons as mav be
associated with them. and their successors, are hereby
created and constitated a body politic and corporate by
the name and stvle of the Round Mountain mining and
manufacturing company, and by such name shall have

ene and he sued. make and use a common seal, and alter
the same at pleasure: and make and maintain such by-
laws, rules and regulations for the government of such cor-
poration, and the conduct of its business as may be deemed
necessary; not to conflict with the laws or constitution of
this state or of the United States.

2. The capital stock of said company shall not be less
than ten thousand dollars, to be divided into shares of
fifty dollars each, and the same may from time to time be
increased by additional subscriptions, or the issue and
xale of shares to such an amount, not exceeding two mil-
lion five hundred thousand dollars, as the stockholders at
any general or special meeting may authorize or prescribe.
The said company may receive subscriptions to its capital
stock or payment for }ts shares so issued in money, land,
or other property, upon such terms as shall be agreed or
authorized by the board of directors, and said company
may give a preference to a portion of its capital stock over
the residue thereof as to dividends and the payments
thereof.

8. The corporators hereinabove named, or any three of
them, may receive subscriptions to the capital stock of
said company, and when the minimum capital of ten
thousand dollars shall have been subscribed, the said sub-
acribers may organize said company by the election of five
directors, of whom they shall elect one as president, to
remain in office one year, and until their successors are
elected, unless sooner removed by the stockholders. After
organization, as aforesaid, the stockholders at any general
merting may change the number of directors, and may
provide for the proper government of the corporation by
such by-laws as they may deem fit and proper, as herein-
above authorized. General or special meetings of the
stockholders may be held on notice of the time and place
of such meeting given to each stockholder in person, or by
writing, mailed to his address, at his usual post-office, ten
days prior to the date of such meeting, or by publication
of such notice in some newspaper of general circulation in
the state for two weeks prior to the date of such meeting.
The board of directors may appoint, or authorize to be
uppointed, such subordinate agents and officers of the com-
pany as they may deem necessary and proper for the proper
discharge of the business of the company.
4. The said company is hereby authorized to carry on
the business of developing, producing, aud dealing in
iron, coal, and other ores, metals, and minerals, salt, oil,
natural gas, marble, lumber, and ‘other natural materials,
and of mining, quarrying, smelting, manufacturing, and
vending the same, and of general merchandise in connec-
tion therewith; and may conduct such business at one or
more points in the counties of Botetourt, Craig, Giles,
Bland, Tazewell, Dickenson, Wise, Scott, and Lee, or either
of them, and in such other counties of this or any adjoin-
ing state in which the company may deem it proper to
acquire property or establish works for that purpose; and
for these purposes 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 prose-
cution of its business, and may on any property so
acquired erect and maintain buildings, machinery, and
structures needful for smelting, manufacturing, and treat-
ing ores, metals, and minerals of whatever kinds, or for
the production of manufactured products from wood,
stone, wool, cotton, hemp, or other materials, and may
operate, lease, sell, or otherwise dispose of the same; and
may on its own lands contiguous or adjacent to any other
manufactory or works erected or to be erected, survey and
lay out lots, squares, or other divisions of such lands, and
improve the same by buildings or otherwise, for sale,
lease, or other disposition or use; and may establish such
lawful rules and regulations in the use thereof as the
board of directors of said company may deem best to
secure the comfort and welfare of the occupants and
others engaged or interested in any manufactory or works
there established or to be established; and the said cam-
pany may, in connection with the use or improvement of
any of its properties, make, build, and operate any canals
or waterways, or tramways or railways operated by horse
or steam power, any such railway not to exceed in length
fifty miles, and for this purpose, when necessary, may
acquire by contract or condemnation such other property
or rights of way as may be necessary therefor, proceed-
ings for such condemnations to be in accordance with
chapters forty-six and forty-seven of the code of Virginia
and the laws amendatory thereof: provided, that in case
of the construction of any such railway to be operated by
steam power, and the condemnation of land therefor as
above provided, the said company, in that event, as to
such railway, shall be subject to all the duties, obliga-
tions, and restrictions of common carriers as prescribed
by law.

5. It shall be lawful for said company to sell its bonds
from time to time for such sums and on such terms as its
board 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 thereof by mort-
gages or deeds of trust upon all or any portion of its pro-
perty, rights and franchises, including its’franchise 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 company or other corporation whenever the board
of directors shall deem it to be its interest to doso. Each
stockholder 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 habilities of the com-
pany in a larger or further sum than to such amount as
may be due and unpaid severally upon his stock subscrip-
tion. There shall be no limit, except as the by-laws of
the company may prescribe, upon the number of shares
of stock which any stockholder may hold, and four-fifths
of the capital stock of the company may become the pro-
perty of lesy than five persons, and a majority of the stock
inay for more than six months be the property of one per-
gon.

6. The acceptance of this charter and organization there-
under shall be deemed to be a waiver by said company of
any right to pay taxes, or dues, or assessments hereafter
made from said company to the state of Virginia in cou-
pons of this state, and shall be taken as an agreement on
the part of said company to pay all of said taxes, dues,
and assessments in lawful money of the United States.

7. This act shall be force from its passage.