CHAP. 452.—An ACT to incorporate the Glasgow manganese
and mineral company.

Approved March 3, 1X90.

1. Be it enacted by the general assembly of Virginia,
That R. H. Catlett, B.C. Rawlings, William A. Glasgow,
junior, D. A. Claiborne, M. M. Martin, J. K. Edmondson,

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Z. H. Rawlings, Fitzhugh Lee, and William A. Anderson,
and such persons as may be associated with them, and
their successors, be, and they are hereby, created and con-
stituted a body politic and corporate by the name and
style of the Glasgow manganese and mineral company ;
and by such name shall have perpetual succession, may
contract and be contracted with, sue and be 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 said corporation and the conduct of
its business as may be deemed necessary, not to conflict
with the laws or the 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 one
hundred dollars each; and the same may from time to
time be increased by additional subscriptions or the issue
and sale of shares to such amount, not exceeding two mil-
lion dollars, as the stockholders at any general or special
meeting may authorize and prescribe. The said company
may receive subscriptions to its capital stock or payment
for its shares so issued in money, land, or other property,
at such prices for its shares of stock and upon such terme
a8 shall be agreed upon or authorized by the board of
directors, and said company may give a preference toa
portion of its capital stock over the residue thereof as to
dividend and the payment thereof.

3. The corporators herein above 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
subscribers 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
meeting 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. The board of directors may appoint
such subordinate agents and officers of the company as
they may deem necessary for the proper dispatch of the
business of the company.

4, The said company is hereby authorized to carry on
the business of mining any of the ores of manganese or
iron, or any clays, sand, or other minerals which may be
found on any property leased or owned by the company ;
of manufacturing any of the products or fabrics of man-
ganese, iron, steel, kaolin, clay, sand, or other mineral or
metal; and said company may conduct such business in
the counties of Rockbridge, Botetourt, Amherst, or any of
them, and in any other county of this and ather states in
which the said 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 per-
sonal estate deemed necessary to the proper prosecution of
its business; and may on any property so acquired, erect,
and maintain buildings, machinery, and structures need-
ful for smelting, manufacturing, and treating ores, metals,
and minerals of whatever kind, or for the production of
manufactured fabrics from wood, stone, metals or other
minerals; and may operate, lease, sell, or otherwise dispose
of the same; and the said company 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, not exceeding
twenty miles in length; and for this purpose, when neces-
sary, may acquire by contract or by condemnation such
land or other property or rights of way as may be necessary
therefor, proceedings for such condemnation to be in
accordance with chapter forty-six of the code of Virginia
and any laws amendatory thereof. It shall be lawful for
said company to lay out and establish a town upon such
portions of its lands as it may select or set apart far that
purpose, in connection with any of said company’s works
or mines, and to improve the same, and to establish and
construct water-works for supplying the inhabitants of
such town with water; and may acquire the land neces-
sary for such water-works by purchase, contract, or con-
demnation, proceedings for such condemnation to be in
accordance with the provisions of said chapter forty- 81X
of the code of Virginia.

5. It shall be lawful for said company from time to time
to sell its bonds and its shares of stock for such sums or
prices and on such terms as the 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 of its bonds by mortgages or deede
of trust upon all or any portion of its property, rights, and
fanchises, including its franchises 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 com-
pany or other corporation, whenever the board of directors
shall deem it to be to its interest to do so, and it shall be
lawful for any company or corporation, foreign or domes-
tic, to acquire and hold the stock of the Glasgow man-
ganese and mineral company. 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 liabilities of the company in any
larger or further sum than to such amount as may be due
and unpaid severally upon the shares.of stock purchased
or subscribed for by him at the agreed price therefor.

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 any taxes or dues or assessments here-
after made from said company to the state of Virginia in
coupons of this state, and shall be taken as an agreement
on the part of said company to pay all of said dues, taxes.
and assessments in lawful money of the United States.

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