Chap. 78.—An ACT to incorporate the Warehouse company of Richmond, Va.
Approved January 20, 1898.

1. Be it enacted by the gencral assembly of Virginia, That Charles
CU. Wilhams, John B. Purcell, Hugh A. McCurdy, TW. W ood, F.C.
Christian, Albert Blair, H. W. Rountree, ALS. Buford, EK. D.C hristian,
and their associates he, and they are hereby, created a hody corpori ite
hy the name of the Warehouse company of Richmond, Virginia, which
shall have a corporate seal, and ean sue and be sued, w ith all the rights,
powers, duties and obligations conferred or imposed by law upon licensed
w arehonses | in the state of Vi irginia,

The said company | shall have the right to receive for storage anc

cafe. keeping all goods, wares and merchandise, and to issue receipt
therefe ir, Which receipts shall be stamped negotiable, and shall have thy
legal effect prescribed by the general Jaw. It shall have a hen on al
coods stored in its warehouse or warehouses for all storage and othe:
legal charges. It may insure al] goods, wares, and merchandises receivec

A
on storage or consignment; may advance money upon such goods, wares
and merchandises; endorse or guarantee bonds, bills or notes for the
owner or owners of such goods, wares and merchandise, and charge a
commission for the same, holding its own receipt for such goods, wares
and imerchandise as security for such endorsement or guarantee. It
may conduct a general auction and commission business, and may sell
at public auction all goods, wares and merchandise consigned to it or
stored with it whenever default shall be made in the payment of any
legitimate charges against such goods, wares and merchandise as may be
In its possession.

3. The salesroom of said company shall be a public mart, at which
it shall be lawful for all fiduciaries to sell real estate located in the citv
of Richmond, or personal property owned by residents of the city of
Richmond, which they are authorized to sell, and which the power
under which they are acting docs not require to be sold at a particular
place.

4. The capital stock of said company shall not be less than fifty
thousand dollars nor more than five hundred thousand dollars, and
shall be divided into shares of one hundred dollars each, and shall be
paid for in such time and in such manner as the said company may
require, but no stock shall be issued by the company to the subscribers
therefor until it shall have been fully paid up. And any subscriber to
suid stock who shall be in default in paving any call made on him by
the company for payment on his subscription shall forfeit his subscrip-
tion, and the company may, at its option, repay him the amount paid
in or sell his right to the stock at public auction to the highest bidder
at his risk and cost. The affairs of the company shall be conducted by
a board of dircetors, whose number and duties shall be prescribed by
the stockholders in their by-laws which they may make. All taxes
assessed upon said company shall be paid in current money of the
United States and not in coupons.

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