CHAP. 346.—An ACT to incorporate the Big Stone Gap electric
light and power company.

Approved February 24, 1890.

1. Be it enacted by the general assembly of Virginia,
That J. F. Bullitt, junior, James H. Fox, R. B. Whitridge,
W. E. Addison, H. E. Webb, J. P. Wolfe, S. B. Mason and
such other persons as they may associate with them, and
their successors, are hereby created a budy corporate and
politic under the name and style of the Big, Stone Gap
electric light and power company, and by that name may
sue and be sued, contract and be contracted with, plead
and be impleaded in all proper courts and places, have a
common seal and change the same at pleasure, and make
all necessary by-laws and regulations for the government
of said company not inconsistent with the laws of the state
of Virginia.

2. The said company shall have the right to locate its
plant, and also the right to locate its poles and wires in,
along and through such streets and alleys of the town of Big
Stone Gap and its suburbs, as may be necessary for the
purpose of said company in furnishing light or motor
power to the town of Big Stone Gap or the citizens of said
town, and said company, in locating such poles and wires
in, along and through said streets and alleys of said town
and its suburbs, shall be subject to the direction of the
legally constituted authorities of the said town. within
their jurisdiction, and said company shall not, by such
location or otherwise, in any manner interfere with the
free use of said streets and alleys by the public.

3. The purposes for which said company is incorporated
are the furnishing by electricity of light and all kinds of
motor power to the town of Big Stone Gap, to the citizens
thereof, and to other corporations or persons, and it shall
be lawful for said company to dispose of its electricity at
such rates as may be agreed upon by the parties.

4. The capital stock of said Big Stone Gap electric light
and power company shal] not exceed one hundred thous-
and dollars, to be divided into shares of one hundred dol-
lars each. Each share subscribed shall be entitled to one
vote in all meetings of the stockholders, and ten thousand
dollars shall be the minimum subscription on which said
company may be organized.

5. Any four of the incorporators hereinbefore named
may organize the company by electing a president and
board of directors, and may elect and appoint such officers
as may be necessary or proper for the operation of said
company’s affairs, and thereupon the said company shall
have and exercise all the general powers and functions of
a corporation, and be subject to all restrictions imposed
by the laws of the state and applicable to chartered com-
panies, except as far as the same may be changed or mod-
ified by this act.

6. The directors shall have power to issue bonds, the
principal and interest of which shall be payable at such
times and places as the board of directors may deter-
mine.

7. The principal office of said company shall be at Big
Stone Gap, in the state of Virginia, and said company
may purchase and hold all real and personal property
which may be necessary for the transaction of its busi-
ness.

8. It shall be lawful for said company to borrow money
and issue and sell its bonds from time to time for such
sum and on such terms as its board of directors may deem
expedient and proper in the prosecution of any of its
works, and may secure the payment of said bonds by
mortgages or deeds of trust upon all or any portion of its
property, real or personal.

9. No stockholder in said company shall be held liable
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. ot

10. All taxes, debts, or demands due or to become due
by this company to the state of Virginia shall be paid in
lawful currency of the United States and not in coupons.

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