Chap. 701.—An ACT to incorporate the Virginia sugar refining company and to
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prescribe the powers, rights and privileges, and to encourage the sugar-beet 1n-
dustry of the state of Virgimia.

Approved March 3, 1898.

1. Be it enacted by the general assembly of Virginia, That Harrison S.
Barbour, of New York city; KE. A. Catlin, Emanuel Raab, William J.
Payne, S. G. Wallace and Henry R. Pollard, of Richmond, Virginia;
and John B. Moon, of Charlottesville, Virginia, or any five of them who
may accept the provisions of this act, their associates and successors, are
hereby constituted a body corporate and politic, by the name of the Vir-
ginia sugar refining company, and as such may have all the privileges,
franchises and immunities of corporations created under the laws of this
state.

2. The general object of the company shall be the manufacture of
sugar from beets and the refining of sugar, and to the accomplishment
of that end the said company may acquire, by purchase or lease, real
estate deemed necessary for the successful operation of its business, not
exceeding six thousand acres, lying and being in this state, and to use
such real estate for the location of its plant or plants, or the production
of beets or other products to be used in or about its business operations;
and in order to transport its raw material or other property to or from
its plant or plants, said company may construct and operate one or
more tramways or electric railways in the manner provided in section
one thousand of the code of Virginia, and also along such lines as it may
acquire the right of way by purchase or donation, but no one line to ex-
ceed fifty miles in length.

3. The capital stock of said company shall not be less than five hun-
dred thousand dollars nor more than one million five hundred thousand
dollars, to be divided into shares of one hundred dollars each, Sub-
scription to the capital stock of said company may be made by individ-
uals, firms or corporations, and may be paid in money, labor, services,
lands, machinery, or other property, at such price and upon such terms
as may be agreed on between the subscribers and the incorporators, or
the company.

4, The stockholders in general or in special meeting shall adopt by-
laws for the government of the company not inconsistent with this char-
ter, and they may prescribe the number of directors, so that the same
be not less than five or more than nine, who shall be annually elected
from among their number.

5. The directors shall elect from their number a president and one or
more vice-presidents of the company, and they shall hkewise appoint
such officers and all agents and emplovees of the company that they deem
necessary for the proper conduct of their business and) may define the
duties of all such officers and fix their compensations.

6. The said company may borrow money, issue bonds or preferred
stock, and sell, negotiate, or hypothecate the same so as to raise money
to establish or conduct its business, and may secure such bonds or
guarantee the payment of dividends on such preferred stock by deed of
trust, mortgages, or the execution of other licns upon its property, real,
personal or mixed, or upon its franchises or future products, or upon
anv part thereof.

7. The chief office of the said company shall be located in the state
of Virginia.

8. Inasmuch as the successful production of beets in quantities sufh-
ciently large to justify the erection of a sugar refinery and the establish-
ment of the industry as hereby authorized would be a matter of experi-
ment in this state, therefore. for the purpose of encouraging the intro-
duction of this new industry among the agricultural classes, which, if suc-
cessful, will furnish tothem anewand valuable source of revenue, and
will add largely to the taxable values of the state, and inasmuch as it
is proposed to secure these objects by the provisions of this act and by the
bonds hereinafter provided for to be executed by said company, there-
fore, be it further enacted that the superintendent of the penitentiary,
by and with the advice and consent of the governor of the common-
wealth, shall have authority, as soon as satisfactory evidence of the
orgi anization of said company under this act has been adduced before
him, and the bonds hereinafter provided for duly executed, to hire not
less than one hundred nor more than four hundred (at any one time)
able-bodied men and boys convicts not otherwise employed, from the state
penitentiary to said company for a period of three years, with the right of
renewal on the part of the company for a period not excceding five
vears, to be employed by said company in the production of beets, to
be used at the factory or factories of the said company in the manufac-
ture of sugar, and for the laying of such tramways and electric tracks
for the economical transportation of the products as herein authorized
and for no other purpose, for and in consideration of which hiring the
said company shall feed, clothe, lodge, guard and furnish medical
attendance for said convicts at its own expense in proper and humane
manner, under the rules and regulations similar to those main-
tained in the treatment and management of those employed on the
state penitentiary farm and under the direction of the superintendent
of the penitentiary, and all expense of transportation of said convicts
and for the transportation salaries and maintenance and care of the state
guards for guarding said convicts during such hiring shall be at the cost
and expense of the said company; the ‘number of said cuards to he so
furnished shall be limited to fifteen, said guards shall be appointed as
other guards are appointed at the penitentiary, and shall be under the
supervision and control of the superintendent of the penitentiary. But
before any contract for the hiring of said convicts shall take effect and
within six months from the passage of this act the said company shall
execute and deliver to the governor of this commonwealth two bonds,
both pavable to the commonwealth of Virginia, and with security to be
approved by the governor, one of which bonds shall be in the penalty of
twenty thousand dollars, with condition faithfully to comply with the
terms and conditions of the contract of hiring aforesaid and to reimburse
the state for all costs incurred and all damages awarded by reason of the
violation thereof, and the other of said bonds shall be in the penalty of
ten thousand dollars, with condition that the whole of said sum shall
become due to and recoverable by the state, as stipulated or liquidated
damages in case the said company shall] fail within eighteen months of
the date of said bonds to acquire, construct and put into operation within
the state of Virginia a factory and plant for the manufacture of sugar
from beets of the costs and value of not Icss than two hundred and fifty
thousand dollars, and if after the expiration of said eighteen months the
said governor shall be satisfied from evidence adduced before him or
from personal inspection on his part that such factory and plant of the
value aforesaid has been so constructed, acquired and put in operation it
shall be his duty to endorse on said last named bond that the conditions
thereof have been complied with and that the same shall stand dis-
charged, or, if said company shall prefer, in lieu of executing such last
named bond, to deposit in some bank agreed upon by the governor the
sum of ten thousand dollars and turn over the certificate of such deposit
to the state treasurer upon such terms and conditions as to its forfeiture
to the state in the event of the failure of the said company to erect. and
put into operation such factory and plant within the eighteen months
aforesaid as may be agreed upon between the company and the governor,
the said lust named bond need not be executed. But nothing in this
section shall be construed as authorizing the hiring of any convicts who
may be actually required to carry out any contract of hiring heretofore
entered into by the state with other persons or corporations or may be
necessary to the proper conduct of the penitentiary and farm and erect-
ing new buildings at the penitentiary if determined upon, and convicts
hired hereunder whose terms of confinement expire before the expiration
of such hiring shall be replaced by others of ike description: provided,
however, that when convicts are required to work more than ten hours
per day they shall be paid for themselves at the rate of ten cents per
hour for each hour in excess of the said ten hours: and provided further,
that should any convict become sick while in the employment of the
said company it shall provide for such convict or convicts for a period
not exceeding three months without charge upon the state treasury.

9. If any convict hired under the provisions of this act shall escape,
the said company shall forfeit to the commonwealth the sum of fifty
dollars. The surgeon herein provided for shall be appointed by the
governor.

10. That it shall be the duty of the governor whenever satisfactory
evidence is adduced before him that the farmers of this state are pro-
ducing beets in suthcient quantities to supply the factory or factories of
said company to revoke the contract of hiring hereinbefore provided for.

11. If the said company shall fail within two vears from the passage
of this act to erect and put in operation the factory or factories for the
refining of beet sugar or the manufacture of sugar from beets hereinbefore
mentioned it shall be the duty of the governor of this commonwealth to
eancel any contract of hiring of convicts theretofore entered into with
said company, and any such contract of hiring shall be of no effect and
void.

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