Chap. 693.—An ACT to enlarge the powers of the Richmond gas company.

Approved March 3, 1898.

Whereas the Richmond gas company was duly incorporated by: an
order of the lawand equity court of the city of Richmond, entered and
recorded as provided by law on the second day of January, eighteen
hundred and ninety-seven; and whereas said company desires to have
its powers enlarged:

1. Be it enacted by the general assembly of Virginia, That the Rich-
mond gas company, be, and is hereby, incorporated and made a body
politic and corporate under the laws of this state, to be known as the
Richmond gas company, and by that name may sue and be sued, plead
and be impleaded, in all the courts of law and equity in this state; and
may have, make and use a common seal, and the same break, alter
and renew or change at their pleasure, and, may make, ordain, estab-
lish, alter or amend such by-laws, ordinances and regulations con-
cerning all matters of organization and business not herein specifically
provided for, as they may think proper, and generally may do every-
thing and act necessary to carry this act into effect or to promote the ob-
jects and designs of the corporation: provided, such by-laws, ordinances
and regulations or acts be not inconsistent with the laws of this state or
of the United States; and all its acts heretofore done within the scope of
its charter are hereby confirmed and validated.

2. That the capital stock of this company shall not be less than
fifty thousand dollars nor more than five hundred thousand dollars, to
be divided into shares of one hundred dollars each; said stock shall be
divided into two classes, that is, there shall be preferred stock and com-
mon stock. The preferred stock shall be entitled to a dividend of six
per centum per annum out of the earnings of the company and no fur-
ther dividend, and the holders of said preferred stock shall not be en-
titled to any vote in respect thereto in any stockholders’ meeting. The
amount of preferred stock to be issued shall never exceed one-half of
the total number of all stock actually issued.

3. The said company shall have power to construct, purchase, lease
(in whole or in part) and maintain and otherwise acquire and dispose of
suitable works, pipes, machinery and all proper and desirable appliances
for the manufacture, generation, distribution and sale of gas or electricity
for fuel, motive power and public and private illumination or heating in
the city ‘of Richmond and the county of Henrico, or in any other county or
city in the state of Virginia, except in the counties of Elizabeth City and
Warwick and the cities and towns therein, after obtaining for the use of
any highway the consent of the council of any such city, or of the Judge
of the county court of any such county respectively, and on such condi-
tions, restrictions and limitations as may be made with the council of
any elty or the county court of any county in which said plants,
structures or appliances may be erected, operated and maintained, or in
or along the streets or roads of any city or county where any pipes,
mains or other works or appliances are constructed.

And for the purpose of carrying into full effect the powers and privileges
herein granted and provided for, the said company shall have power to
acquire by purchase, lease, or gift, such real estate, not exceeding five
acres In any city or ten acres in any county in the state of Virginia
where said company may locate or operate as may be necessary for the

said works, and for laying the pipes and for the carrying on of the said
business.

And the said company shall have all the general powers and be sub-
ject to all the general restrictions prescribed by chapters forty-six and
forty-seven of the code of Virginia of eighteen hundred and eighty-
seven, in so far as the same are applicable to corporations of this chiar-
acter and not inconsistent with this act.

4. That the said company shall be authorized, after obtaining the con-
sent above required subject to such condition and limitations as may be
attached to said consent to open, dig up and excavate the roads, lanes,
streets, allevs and public squares in the city of Richmond or in the
county of Henrico, or in any other county or city in the state of Vir-
ginia ag hercinbefore provided, subject to the fee simple rights by ad-
jacent landowners, for the purpose of laying, repairing, cementing, and
tapping their mains and pipes, and generally for the purpose of doing
what may be necessary and proper in the prosecution of its manufactur-
ing, generating and distributing gas or electricity as provided for in this
act: provided, that when the same shall have been opened, dug up, or
excavated for such purpose, they shall, as soon as practicable, be re-
paired by the said company, at its own cost, under the direction of the
proper authorities of the city or county in which said work shall be
done, if the said local authorities may be had, so that the roads, lanes,
streets, alleys and public squares may be restored to their former condi-
tion as nearly as practicable.

5. It shall be lawful for said company from time to time to sell its bonds
and its shares of stocks for such sums or prices, and on such terms as the
board of directors may deem expedient or proper in the prosecution of any
of its work or business; and it may secure the payment of the principal
and interest of its bonds by mortgages or deeds of trust, or declarations
of trust upon all or any portion of its property, rights and franchises,
including its franchises to be a corporation; and it shall be lawful for
said company to subscribe to and hold shares in the capital stock of any
other corporation, whenever the board of directors shall deem it to its
interest to do so. The minimum capital stock of this company having
been already subscribed, further subscriptions to the capital stock may
from time to time be received and taken by the board of directors in
such amounts as they may determine. Subscriptions to said capital
stock may be payable either in money, land, services, materials, rights,
eusements, property or capital stock of other corporations. Each stock-
holder in said company shall be entitled to one vote for each share of
common stock held by him, and no stockholder shall be held individually
liable for the debts or liabilities of the company in any larger or further
sum than to such amount as may be dueand unpaid severally upon the
shares of stock purchased or subscribed for by him at the agreed price
thereof; said company shall pay all taxes upon its property in this state
in lawful money of the United States and not in coupons.

6. It shall be lawful for any corporation or company, whether foreign
or domestic, to subscribe for, acquire and hold the shares of the capital
stock of said company.

7. The principal office of the company shall be in the state of Vir-
ginia, in the city of Richmond; but the company may establish in any
other place, state or county, such other oflices as it may find necessary
for the conduct of its business and the preservation of its records: pro-
vided that the cities of Norfolk and Staunton shall be exempted from
the provisions of this act.

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