Chap. 634.—An ACT to incorporate the Virginia rotary steam engine com-
pany.

Approved March 5, 1894.

1. Be it enacted by the general assembly of Virginia, That W.
>. Knight, Charles E. Wingo, William O. Knight, Wray T. Knight,
H. W. Davis and Thomas Ellett, and their associates, successors
ind assigns, be, and they are hereby, constituted a body corporate
ind politic by the name and style of the Virginia rotary steam
ngine company, and by the aforesaid name shall be known in law,
ind have perpetual succession and have power to sue and be sued,
736 , ACTS OF ASSEMBLY.

plead and be impleaded, defend and be defended in all courts, whether
in law or in equity, and may have a common seal and change the
same at pleasure, and shall have, enjoy and exercise all rights,
powers and privileges incident and pertaining to corporate bodies
and necessary for the purposes of this act.

2. The capital stock of the said company shall not be less than
five thousand dollars nor more than two hundred thousand dollars,
divided into shares of one hundred dollars each.

3. The board of directors may from time to time increase the
capital stock until the said maximum is reached; and may, in their
discretion, receive payments for such shares in material, labor,
patent rights, or any property, real or personal, or in money, and
may issue shares of stock from time to time to represent enhanced
values of its property.

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

5. The object of said company is to acquire, upon such terms as
may be agreed upon, from W.C. Knight all patent rights and exten-
sions thereof under certain letters patent issued to him by the
United States patent office for an invention in the improvement
of rotary steam engines, and to manufacture and bring the same
into practical use. And said company is empowered and authorized
to acquire and hold or assign partly, or in whole, said patent, and
any and all other patents relating to steam engines of every class
and kind; to engage in the manufacture of rotary and other steam
engines, and all character of business incident and appertaining to
such manufacture; to put all products of its manufacture upon the
market and sell the same; and the said company shall have au-
thority to lease, buy and hold or sell any mineral Jands or other real
estate in any part of Virginia deemed necessary by it for the pur-
poses of its work; and may erect all necessary buildings, furnaces,
forges and machinery necessary to carry on its business, and may
mortgage or encumber, by deeds of trust or otherwise, any of its
real or personal property.

6. Any other corporation may hold shares of stock in said com-
pany hereby incorporated, and the said company may, in a like
manner, hold shares of stock in any other company 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 in-
dividually liable for the debts or liabilities 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 principal 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 stockholders, and they shall
appoint a president, vice-president, secretary, treasurer and general
manager, and such agents as they may deem expedient, and formu-
late its by-laws and rules of regulations. The said board of direc-
tors 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 general meeting assembled.

10. When the minimum amount of capital stock herein named
shall have been subscribed, and the board of directors shall have
elected its officers, said company shall be considered legally organ-
ized 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 its passage.