Chap. 498.—An ACT to amend and re-enact an act entitled an
act to incorporate the Bermuda Hundred construction company,
approved May 6, 1887.

Approved March 4, 1890. ©

1. Be it enacted by the general assembly of Virginia,
That section one of chapter one hundred and sixty-six of
acts of assembly of eighteen hundred and eighty-seven,
entitled an act to incorporate the Bermuda Hundred con-
struction company, be amended and re-enacted so as to
read as follows:

§1. Be it enacted by the general assembly of Virginia,
That James H. Young, Mason Young, Franklin Stearns,
Richard Irvin, junior, James R. Worth, R. A. Dunlop, and
William H. Young, their associates, assigns, and succeas-
ors, are hereby incorporated and constituted a body politic
and corporate by the name of the Bermuda Hundred con-
struction company; and shall have all the powers, rights,
and franchises necessary or proper for the purpose of con-
structing, improving, and equipping railroads, bridges,
tunnels, docks, piers, wharves, basins, warehouses, ele-
vators, depots, section-houses, and all other structures

roper to the use and operation of railroads, and to acquire
and hold the bonds and stocks of any company whose
works it may construct, in whole or in part; and said
corporation shall also have the right, power, and authority
to sell absolutely or conditionally, or lease to individuals
or corporations, rails, cars, locomotives, engines, and any
other rolling stock or personal property pertaining to rail-
roads; and in the event of any such sale by it to reserve
the title to the same until the purchase money is fully
paid in the manner prescribed by section twenty-four
hundred and sixty-two, code of Virginia of eighteen hun-
dred and eighty-seven; and in the event of any such
absolute or conditional sale or lease by it, the property
embraced in any such sale or lease shall, for the purpose
of such reservation of title, be and remain personal
property, and as such liable to removal, notwithstanding
it may have been affixed to the structure or soil belonging
to the individual or corporation to whom the same may
have been sold or leased, or to any land leased by such
corporation or individual, or over which such individual
or corporation may in any manner have acquired the right
of way: provided, however, that it shall not have the right
to condemn land or material, or to.operate a railroad, ex-
cept during the period of its construction.
2. This act shall be in force from its passage.

CHapP. 499.—An ACT to incorporate the Central Land and Im-
| provement company.

Approved March 4, 1890.

1. Be it enacted by the general assembly of Virginia,
That Daniel C. Zollickoffer, Herbert W. Claiborne, Sydney
J. Dudley, and John R. Thomas, of Richmond, Virginia;
Lewis T. Cosby, Paul C. Landrum, George W. Litchfield,
and Charles E. Zollickoffer, of Abingdon, Virginia, and
Henry B. Stoneham, of Fort Worth, Texas, and their
associates and successors, be, and they are hereby, consti-
tuted a body corporate and politic by the name and style
of the Central land and improvement company, and by
the aforesaid name shall be known in law and have per-
petual succession, and have power to sue and be sued,
plead and be impleaded, defend and be defended, in all
courts, whether in law or equity, and may have a common
seal, and change the same at pleasure, and shall have,
enjoy and exercise all rights, powers, and privileges inci-
dent and pertaining to corporate bodies and necessary for
the purpose of this act.

2. The dapital stock of the company shall not be less
than three thousand dollars, nor more than three hundred
thousand dollars, divided into shares of fifty dollars each.

3. The board of directors may from time to time increase
the capital stock until the said maximum isreached; and
may, in their discretion, receive payments for such shares
in property or money, and may issue shares of stock from
time to time to represent enhanced values of its property.

4. The said company shall have its principal office in
Richmond, Virginia, or at such other places in the state
as may be designated by the stockholders in a general
meeting.

5. The said company is hereby authorized to buy, sell,
lease, and rent both personal property and real estate, and
carry on the business of mining, manufacturing, and
otherwise preparing for purchase or sale, ores, minerals,
mineral waters, metals, materials or produce; and the
said company shall have authority to buy, hold, sell, lease,
mortgage, encumber, by deeds of trust, or otherwise, any
real or personal estate deemed necessary to the proper
execution of its business, and on any property so acquired,
erect, maintain, and manage gas-works, electric works,
and water-works, buiidings, machinery, hotels, parks, lay
off town sites, streets, roads, turnpikes, drives, and all
buildings and structures needful for the smelting, com-
pressing, analyzing, manufacturing, and treating ores,
metals, lumber, mineral waters, and minerals of whatever
kind, and producing of manufactured fabrics from wood,
stone, earth, metals, mineral waters, wool, cotton, hemp,
or other materials, and may operate, lease, sell, or other-
wise dispose of the same: provided, that not more than
ten thousand acres of land be at one time owned in fee
simple in any one county, or more than fifty thousand
acres held at any one time within the state, and may con-
nect with railroads their different works or properties
which it may own or acquire with each other by railroad,
canal, or otherwise, and also with lines of other railroads
and transportation companies now or hereafter to be con-
structed within the state pursuant to the laws of the state
in reference to works of internal improvement.

6. Any other corporation may hold shares of stock in
said company hereby incorporated, and the said company
may in alike manner hold shares of stock in any other com-
pany or corporation.

7. 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 liabili-
ties of the company in any larger or further sum than to
such an amount as may be due upon the shares of stock
purchased or subscribed for by him at the agreed price
thereof.

8. It shall be lawful for the said company, from time to
time, to issue and sell its bonds and 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 prin-
cipal and interest by mortgages or deeds of trust on any
or all of its property, rights, and franchises, including its
right to be a corporation.

9. The stockholders of this company shall, at its first
meeting, elect five directors, all of whom shall be stock-
holders, and they shall appoint a president, vice-president,
secretary, treasurer,and general manager, and such agents
as they may deem expedient, and formulate its by-laws
and rules of regulations. The said board of directors may
fill any vacancy that may occur in said board, unless by
removal, in which case the same shall be filled by the
stockholders in genera] meeting assembled.

10. When the minimum amount of capital stock herein
named shall have been subscribed, and the board of direc-
tors shall have elected its officers, said company shall be
considered legally organized and ready for business.

11. This company shall pay all taxes due the state in
lawful money and not in coupons.

12. This act shall be in force from passage.