CHAP. 42.—An ACT to incorporate the Virginia mining, milling
and transportation company.

Approved January 18, 1890.

1. Be it enacted by the general assembly of Virginia,
That John H. Bryant and George H. Poindexter, of Rich-
mond, Virginia; Garrick Mallory, Oscar A. Stevens, and
Samuel T. Davis, of Washington, District of Columbia, or
any three of them, their associates or successors, be, and
they are hereby, constituted a body corporate by the name
of the Virginia mining, milling and transportation com-
pany, and as such may have all the privileges, franchises,
and immunities applicable to corporations under the laws
of Virginia.

2. The capital stock of said company shall not be less
than twenty-five thousand dollars nor more than five
million dollars, divided into shares of one hundred dollars
each, or of such denomination as the company nmiay
determine. And for the purpose of obtaining subscrip-
tions to said capital stock, any three of the persons named
in the first section of this act may open books of subscrip-
tion at any time and place, of which they shall give thirty
days’ notice in one or more newspapers published in the
city of Alexandria, Virginia.

3. The said company shall have power to purchase or
lease any constructed tramroad or railroad not exceeding
fifty miles in length, with authority to operate and main-
tain the same for passengers and freight, as well as power
to purchase, hold, lease, and sell real estate and personal
property; to mine, mill, manufacture products and raw
materials; to give and receive credit; to secure loans by
mortgage or deeds of trust, or otherwise; to lay out manu-
facturing and town or.city lots, and sell the same; or
donate or lease any one or more of the same as the said
company may desire from time to time; to build dams,
ditches, or lay water-pipe supply lines, erect mills and
furnaces, construct tramroads and railroads—connecting
its mines or works of any kind, or its lands, with any
railroad or works of internal improvement, and with all
the rights and privileges necessary for terminal facilities,
with power to operate and maintain the rights and priv-
ileges herein granted; and for this purpose shall have all
the rights and privileges and powers, and be subject to all
the conditions prescribed by the laws of the state of Vir-
ginia; provided that no such constructed tramroad or rail-
road shall be more than fifty miles in length from the
mines, mills, works, or land of said company; nor shall
any such tramroad or railroad be constructed by said
company except in the counties of Stafford, Spotsylvania,
King George, Campbell, Appomattox, Louisa, Goochland,
and counties adjoining said counties.

4, The capital stock of said company shall be personal
property and transferable on the books of the company;
and tramroads or railroads, lands, material or securities,
as well as money, may be received on stock subscriptions,
provided that before organization all stock subscriptions
not payable in money shall be certified to be at or below
the actual value for mining or milling purposes of the
company by at least three of the persons herein named;
and that after organization the board of directors shall
not be authorized to receive any such subscriptions to the
stock except by a resolution in which three-fifths of the
capital stock subscribed for shall be in the affirmative.

5. The said company may hold land not exceeding
twenty-five thousand acres in any one or more counties,
and its principal operations shall be and its main office
located in either Campbell, Appomattox, Goochland,
Louisa, King George or Spotsylvania counties, Virginia,
with branch offices in New York and Washington, District
of Columbia, if desired, and such other cities as the board
of directors may determine from time to time.
6. This charter shall be subject to amendment, altera-
tion or repeal at any time hereafter by the general assem-
bly of Virginia. All taxes shall be paid in lawful money
of the United States, and not in coupons.

7. This act shall take effect and become operative from
its passage.