CHaP. 207.—An ACT to incorporate the Natural oil and fuel-gas
company.

Approved February 12, 1892.

1. Be it enacted by the general assembly of Virginia,
That John M. Bailey and J. Wilder, of Virginia; George
H. Towle, S. Lawrence French, and Charles Keveny, of
Massachusetts, their associates and successors be, and they
are hereby, incorporated and made a body politic and
corporate under the name and style of Natural oil and
fuel-gas company, and by that name shall be known in
law, and have perpetual succession, and have power to sue
and be sued, plead and be impleaded, defend and be defen-
ded in all courts, whether in law or equity; and they may
make and have a common seal, and they may alter and
renew the same at pleasure, and shall have, enjoy, and
exercise all rights, powers, and privileges pertaining to cor-
porate bodies and necessary for the purposes of this act,
and may make by-laws, rules and regulations for the gov-
‘ernment of all under its authority, the management of its
properties, and the due and orderly conduct of its affairs.

2. The capital stock of said company shall not be less
than one hundred thousand dollars, nor more than five
million dollars, and shall be divided into shares, the par
value of which shall be one hundred dollars each; and
the directors may sell said shares of stock, or any part
thereof, at such price as they may deem to be to the best
interests of the company, and may receive real or personal
property of any kind or services in payment therefor, at
such valuation as may be agreed upon between the direct-
ors and the purchasers.

3. The said company is also authorized and empowered
to issue preferred stock and bonds, to purchase, hold, own,
lease, and control in any manner, grant, bargain, sell,
mortgage, convey, and otherwise dispose of real and per-
sonal properties of any kind in this state or elsewhere:
provided that the said company shall not own more than
ten thousand acres of land in fee in any one county of
this state at any one time.
4, The said company is authorized and empowered to
bore, lease, and operate wells for gas, oil, or other liquids,
and to mine and quarry coal and other mineral sub-
stances. And the said company is authorized and em-
powered to construct, maintain and operate anywhere in
this state or in other states, upon its complying with the
legislative requirements of such other state, pipe lines,
tanks, distributing pipes, and the necessary works and ap-
purtenances of all kinds, for the purpose of manufactur-
ing, delivering, conducting, storing, handling and supply-
ing corporations or individuals, for use in mills, furnaces,
manufacturing establishments, and for other purposes,
with its manufactures and products; and for the purpose
of constructing, maintaining, and operating any of the
above works; the said company shall have all the rights,
powers and privileges, necessary to carry out the purposes
of this act to the fullest and most ample extent, and
those which are given to internal improvement compa-
nies by the laws of the state. Whenever this corporation
shall exercise any of the privileges conferred by this act,
it shall be liable to the same taxes as may be imposed by
law upon other like corporations; and it is further pro-
vided, the said taxes shall be paid in lawful money of the
United States, and not in coupons; and provided, that
whenever it shall, for the purpose aforesaid, cross or oc-
cupy any street, highway, or alley, it shall lay its pipes
below the surface, eo as not to interfere in any way with
the use of said streets, highways, or alleys, and in so lay-
ing its pipes it shall not unnecessarily or unreasonably
obstruct the use of any street, highway, or alley, and
shall, after so laying its pipes in or across any such high-
way, street, or alley, restore the surface of such road;
highway, street, or alley to as good condition as before ; and
provided further, that it shall be liable to any and all the
damages the public or any person may sustain while such
construction is in progress.

5. The five persons first named in this act shall consti-
tute the first board of directors of the said company, one
of whom they shall elect president; they shall adopt a
code of by-laws, appoint a secretary and treasurer; and
when so organized they shal] be authorized to change the
corporate name of the company if so desired; to fix, from
time to time, the amount of capital stock ; and to exercise
all the powers conferred hy this charter. The secretary
shall certify said organization on the books of the com-
pany, a copy of which, duly attested by a notary public,
shall be received in all courts and elsewhere as evidence
of the legal organization of the company. They shall
continue in office for one year, and until their successors
are elected by the stockholders. Each shareholder in the
company shall, at all meetings or elections, be entitled to

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ne vote for each share of stock registered in his name.
ny director may act at all meetings of the board through
is attorney in fact.

6. The board of directors may establish offices and
gencies at such places as they may deem proper; but the
nnual meeting shall be held, and the principal! office shall
e in the state of Virginia.

7. No stockholder shal] ever be liable or made respon-
ible for its debts and liabilities in a larger or further sum
han the amount of any unpaid balance due to the said
ompany on account of stock purchased from the company
yy the said stockholder.

8. This charter herein granted, except as to matters
erein specially provided for, is hereby declared to be
ubject to the provisions of the general law in regard to
bartered companies and corporations. |

9. This company, so far as its properties are located and
its operations are conducted within this state, shall always
remain a Virginia corporation, and subject to the jurisdic-
Hon of its courts.

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