Chap. 804.—An ACT to incorporate the Old dominion mining, chemical and elec-
trical company.

Approved March 3, 1898.

1. Be it enacted by the general assembly of Virginia, That James R.
Werth, B. H. Randolph, J. Colbert Petty, Jonas Marcuse, Warner
Moore and M. Kirsh, and such other persons as they may associate with
them, and their successors be, and they are hereby, made and constituted
a body politic and corporate by the name of the Old dominion mining,
chemical and electrical company, and shall have all the powers, rights,
and franchises necessary for mining and selling coal and erecting works
for the manufacturing of gas and by products from coal and developing
electricity. It shall have power to construct and maintain wires for the
distribution of electricity under, over, along and across county roads and
across railroads, provided said wires are so located as not to impede
travel, and to construct and maintain other fixtures for distribution of
light, power and heat in any city in the commonwealth subject to the
consent of the city councils or other municipal authorities which may
govern said city, and subject to all regulations, limitations and restrictions
which may be imposed by said city authorities and such conditions as
may be imposed by the municipal authorities.

2. Any four of the incorporators hereinbefore named may organize the
company by electing a president and board of directors, and may elect
and appoint such other officers as may be necessary or proper for the
Operation of said company’s affairs, and thereupon the said company
Bhall have and exercise all the general powers and functions of a cor-
poration, and be subject to all the restrictions imposed by the laws of the
state applicable to chartered companies, except so far as the same may
be modified or changed by this act.

3. The capital stock of the company shall not be less than fifty thou-
sand dollars nor exceed three hundred thousand dollars,to be divided into
shares of the par value of one hundred dollars; and the said stock may
all be common, or such part thereof preferred as the directors may from
time to time determine. Each share of stock shall be entitled to one
vote.

4. The directors may sell shares of stock from time to time, as they
may deem expedient, until the stock is fully taken, and may receive in
payment, or part payment for such stock, money, machinery, or pro-
perty necessary for or adapted to the construction, operation or mainte-
nance of the property; and may receive in payment, or part payment
for such stock, supplies, services, material for the construction of its
works or their appendages, and may purchase and hold property which,
or its proceeds, may be beneficial or useful to said company to carry out
the object of said company, and pay therefor wholly or in part in the
capital stock of the said company.

5. The directors shall have the power to issue bonds in sums of one
hundred dollars and multiples thereof, the principal and interest of
which shall be payable at such time and place as the board of directors
may determine, and said corporation shall pay all taxes, dues, and de-
mands due the state at any time hereafter in lawful money of the United
States, and not in coupons.

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