CHAP. 607.—An ACT to incorporate the Cloverdale stock farm
in Halifax county, Virginia.

Approved March 5, 1890

1. Be it enacted by the general assembly of Virginia,
That W. T. Sutherlin, C. H. Conrad, F. P. Burton, H. W.
Cole, J. M. Neal, W. A. Holland, A. M. Aiken, J. I. Pritch-
ett, John H. Spencer, W. J. Dance, William Irvine, junior,
C. D. Noel, W. P. Bethell, C. T. Brown, C. L. Holland, E.
H. Miller, W. T. Swann, H. Hairston, John A. James,
Green P. Talbott, Thomas N. Ferrell, George N. Wilson,
C. A. Holcomb, N. W. Lumpkin, D. T. Harvey, John L.
Hurt, Colonel Thomas Fauntleroy, L. H. Pigg, J. W.
Bethel], J. H. Scales, C. T. Bethell, James S. Cobbs, Doc-
tor T. V. Brookes, R. W. Watkins, H. H. Edmondson,
Wood Bouldin, John E. Redd, H. A. Edmondson, R. R.
Noblin, R. L. Watkins, W. T. Wilson, E. Hunt, J. Turner
Morehead, J. A. Gray, D. W. C. Benbow, Colonel John S.
Cunningham, W. M. Watkins, J. D. Patton, Preston Bel-
vin, and F. E. Patrick, and such other persons as may
be associated with them, and their successors, be, and they
are hereby, made and constituted a body corporate and
politic by the name of the “Cloverdale stock farm in
Halifax county, Virginia,” and shall have all the powers,
rights, and franchises necessary and proper for the pur-
pose of conducting the business hereinafter described.

2. Any seven of the corporators named may organize the
said company by electing a president and board of direc-
tors, and thereupon the said company shall have and may
exercise all the gepéral powers and be subject to the
general restrictietis provided by the laws of this state as
to bodies poliffc and corporate, except so far as the same
are modifiga by or are inconsistent with this act.

3. Thefaid company shall have authority, in the prosecu-
tion of Xs business, to purchase, hold, and sell, and to trade
in, gen@ally, horses, cattle, and other live animals, gen-
erally cilled live stock, and, in general terms, to transact
and cary on such business, and such kinds of business,
us are isually transacted and carried on by, with, upon,
and inconnection with what are commonly known as live
stock ‘arms; to buy, sell, and deal in any article, and
carry d) any business which can be conveniently done in
connechon with the principal business of said company ;
and to ect, own, acquire, by purchase or otherwise, all
necessary stables, mills, granaries, and warehouses, and
all necessary lands, not exceeding five thousand acres in
extent, with all suitable and desirable machinery, ap-
plianess, and buildings for,the purposes of said company.

4. The capital stock of said company shall not exceed
five hundred thousand dollars, nor be less than thirty
thousand dollars, divided into shares of the par value of
one hundred dollars each. The said company may diz
pose of such stock at such price and upon such terms ard
conditions as may be agreed upon between said compant
or its board of directors and the subscribers thereto.

5. The board of directors of said company may, with or
without notice, open the books and receive subscription:
to the capital stock from time to time as they may deem
expedient, until the maximum of said capital stock 1:
fully taken; and all subscriptions to the capital stock of
said company shall be payable at such times and places
and in such manner and amounts as said company or its
board of directors may prescribe.

6. It shall be lawful for said company to receive in full.
or in part, payment of subscriptions to the capital stock
of said company, as may be agreed on by said company or
its board of directors, money, lands, leases, materiala, live
stock, or other things of value deemed available for thr
purposes or adapted to the wants and uses of said conm-
pany, or the proceeds of which, by sale or exchange, may
be converted to the uses of said company, and for any 2er-
vice, labor, lands, leases, materials, live stock, or other
thing of value described in this section received by said
company, the board of directors may pay wholly or in part
in the capital stock of said company; and the said com-
pany may sell, lease, or otherwise dispose of any land or
other thing of value acquired under this section.

7. The principal office of the said company shall be on
its farm in Halifax county, or in the city of Danville, as
the board of directors may determine; and all taxes
dues, and demands due the state, or that may hereafter
become due by said company to the state Virginia, aball
be paid in lawful money of the United Staes and not in
coupons. Mee

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