Chap. 285.—An ACT to incorporate the Atlantic telephone company.

Approved February 9, 1598.

1. Be it enacted by the general assembly of Virginia, That S. Wil-
kins Matthews, W. IL. Pruitt, junior, H. T. White, Doctor Frank Fletch-
r, William Walsh, C. IE. Byrd, and Doctor J. KE. Brodwater, and such
other persons as they may associate with them and their successors be,
and they hereby are, incorporated and created and made a body corpo-
rate under the name of the Atlantic telephone company, for the purpose
of constructing, equipping, maintaining, and operating a line or lines of
telephones, with the necessary and convenient exchanges and appliances,
in the county of Accomac, in the state of Virginia; and to connect Saxes
island, Chincoteague island, and Franklin City with Accomac Court-
house, and including any or all intermediate points, postoffices, or vil-
lazes, and as such corporation the said company shall have all general
powers and be subject to all general restrictions conferred and imposed
by the laws of Virginia, now or hereafter in force as to corporations and
chartered companies, and including all rights and privileges given by the
sald laws of Virginia to telephone companies.

2. The said company shall have power to acquire by purchase, lease,
condemnation, or otherwise in accordance with the general laws of the
state of Virginia on that subject, all real estate or easements necessary
for the convenient erection and maintenance of its lines, offices, and ex-
changes and for the general conduct of its business, the real estate to be
held by the said company, however, in fee simple, not to exceed one
hundred acres in the said county of Accomac.

38. The capital stock of the said company shall be not less than five hun-
dred dollars nor more than ten thousand dollars, divided into shares «
ten dollars each. It shall not be necessary to give any notice of th
opening of subscriptions to said stock, but the same may be subscribe
in such manner and at such times as amajority of said corporators ma
determine.

4. When the minimum amount of capital stock shall have been sul
scribed the subscribers may meet upon such notice as the said corpors
tors, or a majority of them, shall determine and elect a president an
board of directors and such other officers as they may deem best. A
such meeting each subscriber may in person or by proxy cast one vot
for each share of stock subscribed for by him. The board of directors ma
consist of any number that the subscribers or stockholders may fron
time to time determine. After such election the said company shall b
thereupon deemed duly organized, and the board may proceed to adop
by-laws for the conduct of the company and take such further action a
the interest of the company may in their judgment require. General o
annual meetings of the stockholders may be held on such notice as ma:
from time to time be prescribed by the board of directors, such notic
to be published for the length of time fixed by said board in one o
more newspapers published in the county of Accomac.

5. This company is incorporated for the conduct of the telephon:
business, and to that end authority is hereby granted to it to erect al
poles, wires, cables, conduits and lines and to establish all offices anc
exchanges necessary and proper for the conduct of such a business.

6. The said company may acquire by purchase or lease any of the
property or rights of any other telephone company, and make any con.
tract with any other such company consistent with the laws of the state

7. The said company shall have power to connect or make traflic ar
rangements for the interchange of business with any other telephone o:
telegraph company or companies heretofore or hereafter incorporated.
and may acquire and hold the necessary and convenient patents anc
property.

8. The said company shall have power to borrow money for its pur
poses, and to issue its notes or bonds therefor, and to secure the same
by mortgage or deed of trust upon its property, works and franchises 01
otherwise.

9. This act is subject to the proviso that work hereunder shall be com:
menced within two years and the said company be in operation withir
three years from and after the passage of this act, and all taxes or de.
mands due, or to become due, to the state of Virginia must be paid ir
lawful currency of the United States and not in coupons. The genera!
assembly reserves the right to amend, alter or repeal this charter.

10. This act shall be in force from its passage.
316 ACTS OF ASSEMBLY.