Chap. 383.—An ACT to incorporate The Virginia and Tennessee
marble, natural oil and gas company.

Approved February 25, 1892.

1. Be it enacted by the general assembly of Virginia,
That L. D. Yarrell, H. A. Tabb and Wyndham Bolling,
of Virginia; George P. Cannon and J. A. Dickey, of Ten-
nessee, their associates, assigns and successors be, and
they are hereby, incorporated and made a body politic
and corporate under the name and style of the Virginia
and Tennessee marble, natural oil and gas company, and
by that name shall be known in law, and have perpetual
succession, and have power to sue aud be sued, plead and
be impleaded, defend and be defended in all courts,
whether in law or equity; and they may make and have a
common geal, and they may alter and renew the same at
pleasure, and shall have, enjoy and exercise all rights,
powers and privileges pertaining to corporate bodies and
necessary for the purposes of this act, and may make
by-laws, rules and regulations for the government 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 be one hun-
dred thousand dollars, but may be increased to such
amount as the board of directors may determine, from
time to time, 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 di-
rectors 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
twenty 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 substances.
And the said company is authorized and empowered to
construct, maintain and operate anywhere in this state or
in other states, upon its complying with the legislative re-
quirements of suck other states, pipe lines, tanks, dis-
tributing pipes and the necessary works and appurtenances
of all kinds, for the purpose of manufacturing, delivering,
conducting, storing, handling and supplying corporations
or individuals for use in mills, furnaces, manufacturing
establishments and for other purposes with its manu-
factures 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 privi-
leges necessary to carry out the purposes of this act to the
fullest and most ample extent, and those which are given
to internal improvement companies 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 provided 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 occupy any street, highway or
alley, it shall lay its pipes below.the surface so as not to
interfere in any way with the use of said streets, high-
ways or alleys, and in so laying its pipes it shall not un-
necessarily or unreasonably obstruct the use of any street,
highway or alley, and shall after so laying its pipes in or
across any such highway, 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 said company is authorized and empowered to
purchase, hold, own, lease and control in any manner
grant, bargain, sell, mortgage, convey and otherwise dis-
pose of any real or personal estate or standing timber in
this state or elsewhere, provided said company shall not
hold more than twenty thousand acres of land in any one
county at the same time, and to lay out said lands, or any
part thereof, into parcels or lots of convenient size with
intervening roads, lanes, streets and alleys, and develop,
work, improve and cultivate, or otherwise use or dispose
of the same in such manner and upon such terms as the
said company may think proper.

6. The said company is authorized and empowered to
mine and quarry coal, iron ore, marble, stone and other
mineral substances, and to prepare and manufacture the
same for use and sale in all manner of forms it may
adopt, and to manufacture and prepare for market and
sale timber and stone and all other raw material, mineral
or vegetable, and for this purpose may erect and operate
all kinds of mills, works, furnaces, coke-ovens and ma-
chinery of any and ey, description for the enjoyment
of the privileges herein granted to the fullest and most
ample extent.

7. The said company shall have the right to build tram-
ways or railroads, to be operated by steam or horse or elec-
tric power; to connect their marble works, oil and gas
wells, mills, quarries, lands, manufactories or other works
with such places and railroads or other transportation com-
panies as they determine to build to, and said company
shall have the right to acquire the rights of way necessary
to build said tramways or railroads, not exceeding sixty
feet in width, and land not exceeding two acres in any one
parcel, by condemnation, as the company may deem ne-
cessary for the transaction of its business, and if the com-
pany and owners thereof cannot agree as to the com-
pensation to be paid for the said rights of way of said
parcels of land, not exceeding two acres in any one parcel,
the matter shall be settled as is provided in chapter forty-
six of the code of Virginia of eighteen hundred and eighty-
seven.

8. 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
s0 organized, they shall be authorized to change the cor-
porate 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 by this charter. The secretary
shall certify said organization on the books of the company,
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 the meetings or elections, be entitled to one vote
for each share of stock registered in his name. Any di-
rector may act at all meetings of the board through his at-
torney in fact.

9. The board of directors may establish offices and agen-
cies at such places as they may deem proper, but the an-
nual meeting shall be held and the principal office shall
be in the state of Virginia.

10. No stockholder shall ever be liable or made respon-
sible for its debts and liabilities in a larger or further sum
than the amount of any unpaid balance due to the said
company on account of stock purchased from the company
by the said stockholder.
11. This charter herein granted, except as to matters
herein specially provided for, is hereby declared to be sub-
ject to the provisions of the general Jaw in regard to char-
tered companies and corporations.

12. This company, so far as itagproperties are located
and its operations are conducted within this state, shall
always remain a Virginia corporation, and subject to the
jurisdiction of its courts.

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