CHAP. 212.—An ACT to incorporate the Globe refining company.
Approved February 17, 1890.

1. Be it enacted by the general assembly of Virginia,
That Charles W. Bartlett and George H. Towle of Massa-
chusetts, Thomas F. Ryan, John M. Bailey, and John L.
Wellington of New York, their associates and succegsors, be.
and they are hereby, incorporated and made a body politic
and corporate under the name and style of Globe refining
company, and by that name shall be known in law and have
perpetual succession, and have power to sue and be sued,
plead and pe impleaded, defend and be defended in all
courts, whether in law or equitv; and they may make and
have a@ common seal, and they may alter or renew the
same at pleasure; and shall have, enjoy, and exercise al]
rights, powers, and privileges pertaining to corporate
bodies and necessary for the purposes of this act; and
may make by-laws, rules, and regulations consistent with
the existing laws of the state for the government:of al]
under its authority, the management of its properties, and
the due and orderly conduct of its affairs.

2. The capital stock of said company shall not be less
than ten million dollars and may be increased from time
to time to any amount not exceeding one hundred and
fifty million dollars, and shall be divided into shares, the
par value of which shall be one hundred dollars each ;
and the directors may sell said shares of stock, or any
part thereof, at such price as they may deem to be to the
best interests of the company, and may receive real or
personal property or services in payment therefor, at such
valuation as may be agreed upon between the directors
and the purchasers.

3. The said company is authorized and empowered to
purchase, hold, own, lease, and control in any manner,
grant, bargain, sell, mortgage, convey, and otherwise dis-
pose of real and personal properties of any kind in this
state or elsewhere: provided, that the said company shal]
not own more than twenty-five thousand acres of land in
any one county in this state at any one time.

4. The said company is authorized and empowered to
produce from its 6wn lands or to purchase any and all
kinds of crude substances, mineral or vegetable, and to
refine or otherwise prepare the same for use and sale, and
to-purchase, manufacture, and sell in all manner of forms,
any and all kinds of raw material or other products pro-
duced therefrom, and for this purpose may erect and ope-
rate all kinds of furnaces, mills, manufactories, machinery,
and all other works necessary for the enjoyment of the
privileges herein granted to the fullest and most ample
extent. And the said company may construct, purchase,
and own or lease warehouses, and issue and sell warehouse
certificates entitling the holders thereof to call upon the
company or its agents for the amount of the article and
of the specified grade or quality set forth in the said cer-
tificates. Said certificates may be transferable either by
delivering or by assignment.

5. The five persons first named in this act shall consti-
tute the first board of directors of the said company, one
of whom they shall elect president. They shall adopt a
code of by-laws, appoint a secretary and treasurer. and
when so organized they shall be authorized to change the
corporate name of the said company, if so desired; to fix
from time to time the amount of capital stock and to ex-
ercise all the powers conferred by this charter. The sec-
retary shall certify said organization on the books of the
eompany, a copy of which, duly attested by a notary pub-
lic, shal] be received in all courts and elsewhere as evi-
dence of the legal organization of the company. They
shall continue in office for one year, and until their suc-
cessors are elected by the stockholders. Each stockholder
in the company shall, at all meetings or elections, be enti-
tled to one vote for each share of stock registered in his
name. , ,
6. The board of directors may establish offices and
agencies at such places as they may deem proper, but the
annual meeting of the stockholders and principal office of
said company shall be held in the state of Virginia.

7. No stockholder shall ever be liable or made responsi-
ble for its debts and liabilities in a larger or further sum
than the amount of any unpaid balance due to the said
company on account of stock purchased from the company
by the said stockholder.

8. This charter herein granted, except as to matters
herein specially provided for, is hereby declared to be sub-
ject to the provisions of the general law in regard to char-
tered companies and corporations. Whenever this corpo-
ration shall exercise any of the privileges conferred by
this act it shall be liable to the same taxes as may be im-
posed by law upon other like corporations; and it is fur-
ther provided the said taxes shall be paid in the lawful
money of the United States and not in coupons.

9. This company, so far ag its properties are located and

_ its operations are conducted within this state, shall always
remain a Virginia corporation and subject to the jurisdic-

. ton of its courts.

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