Chap. 229.—An ACT to incorporate the St. John’s Academy, in Alexandria city.

Approved February 12, 1894.

Whereas there has existed in the city of Alexandria since eighteen
undred and thirty-three a school for preparing young men and boys
or the universities and for business, which has attracted students
rom very many of the states and several foreign countries; and
rhereas the society of alumni of said school has petitioned thie
eueral assembly to incorporate it:

1. Beit enacted by the general assembly of Virginia, That Richard
4. Carne, James R. Caton, Lawrence W. Corbet, William F. Carne.
Michael B. Harlow, Samuel G. Brent, and Leonard Marbury, and
uch ae persons as they may associate with themselves or whc

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may succeed them, as well as all persons who shall become stock-
holders in the company to be hereafter organized, be, and are hereby,
constituted a body corporate under the name and style of the cor-
poration of St. John’s academy.

2. That said corporation shall have a right to rent buildings and
grounds for the use of the school; to receive by gift, devise or pur-
chase, real and personal property for its use or benefit, and dispose of
the same when necessary or expedient (provided that the value of
the property held by the corporation shall at no one time exceed
twenty-five thousand dollars); and shall have all other rights, privi-
leges and powers which may be necessary for carrying out the ends
for which it is created, provided they be in accordance with the laws
of the commonwealth.

3. The persons named in the first section of this act shall consti-
tute the first board of trustees of St. John’s academy. Said board
shall have power to elect officers for the corporation and officers and
teachers for the school, and remove the same at its discretion; to
enact by-laws for the corporation and regulations for the school; to
require bonds from the custodians of its funds, and to borrow
money on the credit of the corporation, when authorized by it.

4. As soon as may be practicable or expedient, the board of trus-
tees shall open books of subscription to the capital stock of the cor-
poration, which shall not be less than ten nor more than twenty-five
thousand dollars, the value of the shares to be fixed by the board of
trustees. As soon as the minimum shall have been subscribed for, a
day shall be fixed for the election of trustees, nine in number, of
whom five shall be a quorum for the transaction of business, and
such an election shall take place annually thereafter, each stock-
holder having one vote for each share of stock held by him, to be
given in person or in proxy.

5. Thereafter the stockholders only shall compose the corpora-
tion, each having one vote for each share of stock held by him.
Until it shall have been so organized, the original board of trustees
shall conduct its affairs, adding to its number or filling vacancies as
it shall see fit, and a majority shall constitute a quorum.

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