CHAP. 388.—An ACT to incorporate the Old Dominion construc-
tion company.

Approved February 28, 1890.

1. Be it enacted by the general assembly of Virginia,
That T. L. Moore, W. M. Lile, A. S. Wily. J. B. Young, G.
Armstead Gibson, their associates, assigns, and successors,
are hereby created, incorporated, and constituted a body
politic and corporate by the name of the Old Dominion
construction company.

2. The said company is hereby authorized and empow-
ered to construct, improve, and equip railroads, chartered
by thisor any other state, bridges, tunnels, depots, section-
houses, and other structures proper to the use and opera-
tions of railroads; to contract with any railroad company
or companies, incorporated or to be incorporated ; to con-
struct, improve, and equip railroads, bridges, tunnels,
depots, section-houses, and other structures proper in the
use and operation of railroads; and to take and receive in
payment therefor shares of the capital stock of such com-
pany or companies, bonds secured by mortgages or
otherwise that may be issued by such company or compa-
nies, and any other bond or securities, real and personal
property, moneys and valuable considerations which such
railroad company or companies shall have the right law-
fully to dispose of and as shall be agreed between the
contracting parties; and to bargain, sell, use, hypothecate,
or otherwise dispose of the same as it may deem best for
its interests; and for the purpose of securing any indebt-
edness due said company, shall have the right to purchase
all franchises and properties of any railroad companies of
which this company may be a stockholder, or which may
be indebted to this company.

3. The said company may carry on its work in this and
other states, and may commence operations as soon as
fifty thousand dollars of its capital stock shall have been
subscribed to. Certificates of stock in shares of one hun-
dred dollars each, may be issued by the board of directors
to an amount not exceeding two hundred and fifty thou-
sand dollars, and with the consent of the majority in
interest of the stockholders, given in any general meeting,
the capital stock may be increased toa sum not exceeding
two million dollars. Each share of stock shall be enti-
tled to one vote in any meeting of stockholders.

4. The said company shall have the power to borrow
monev and to secure the same by mortgage or deed of
trust on its franchises and property or any part thereof.

5. The said company shall have the general powers con-
ferred upon companies chartered under the laws of Vir-
inia, and shall be subject to all the provisions thereof,
xcept so far as the same are modified by or inconsistent
‘ith this act.

6. ‘The corporation herein mentioned shall have the pow-
rs and authority of a president and a board of directors
or the purpose of organization of said company, and for
1] other purposes, until a president, and board of direc-
ors shal] be elected at a stockholders’ meeting, and such
neeting shall be held upon such notice as the corporators
hal] deem proper.

7. The-stockholders may meet as soon as practicable
.fter the passage of this act, and if at such meeting a
ninimum capital stock of fifty thousand dollars be sub-
scribed, the company shall thereupon be deemed organ-
zed, and the board shall proceed to adopt by-laws for the
‘conduct of the company, appoint such officers as may be
leemed necessary, and take such action as the interests of
he company may require. The by-laws may at any time
ne changed by the directors, or by the stockholders in
seneral meeting assembled.

8. This charter shall be subject to amendment or repeal
py the general assembly, and all taxes, dues, or demands
due or to become due to the state of Virginia shall be
paid in lawful currency of the United States and not in
coupons. |

9. The said company shall have the right to employ
convicts upon the same terms as the railroad company
with which it contracts may have under the existing law.

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

Crap 389.—An ACT providing that the board of supervisors of
Mecklenburg county shall not be required to provide a fire-
proof clerk's office.

Approved February 28, 1890.

Whereas, the board of supervisors of Mecklenburg
county have lately provided for the clerk’s office of said
county a fire-proof safe of sufficient size to hold all the
most important and valuable records of said county;
therefore,

1. Be it enacted by the general assembly of Virginia,
That the board of supervisors of Mecklenburg county shall
not be required to provide a fire-proof clerk’s office for
said county.

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