Chap. 1041.—An ACT to incorporate the Franklin county telephone company.

Approved March 7, 1900.

1. Be it enacted by the general assembly of Virginia, That H. M.
Turner, James J]. Enelish, John R. Guerrant, 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 corporate under the name
of the Franklin county telephone company, for the purpose of con-
structing, equipping, maintaining, and operating a line or lines of tele-
phones, “with the necessary and convenient exchanges and appliances
in the county of Franklin, in the state of Virginia, and to connect Calla-
ways with Rocky Mount, and any other points, post-offices, or villages
in said county, 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 corpora-
tions and chartered companies, including all rights and privileges given
hy the said 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 Franklin.

3. The capital stock of the said company shall not be less than five
hundred dollars nor more than one thousand dollars, divided into shares
of ten dollars each. It shall not be necessary to give any notice of the
opening of subscriptions to said stock, but the same may be subscribed
in such manner and at such times as a majority of said corporators may
determine.

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

5. This company is incorporated for the conduct of the telephone
business, and to that end authority is hereby granted to it to erect all
poles, wires, cables, conduits, and lines, and to establish all offices and
exchanges necessary and proper for the conduct of such 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
contract with any other such company consistent with the laws of the
state.

7%. The said company shall have power to connect or make traffic
arrangements for the interchange of business with any other telephone
or telegraph company or companies heretofore or hereafter incorporated
and may acquire and hold the necessary and convenient patents and
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
or otherwise.

9. The said company shall have the right to use the highways in the
county, and may construct, maintain, and operate its line on the same so
as not to interfere with travel on and ordinarv use of the same, and
shall have exclusive right to operate and conduct a telephone business
within the said county for the space of five years from the date of the
approval of this act.
10. All acts and parts of acts in conflict with this act are hereby, to
that extent, repealed.

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