Chap. 456.—An ACT to incorporate the Virginia immigration society.

Approved February 20, 1900.

1. Be it enacted by the general assembly of Virginia, That Samuel
B. Woods, E. Woods, medical doctor, J. B. Emerson, E. T. Riddick,
John W. Munson, R. 'T. Martin, John R. Sampson, Felix Ancaigne, or
any three of them, their associates, successors, and assigns shall be, and
hereby are, constituted a body corporate by the name of the Virginia
immigration company, and as such are authorized, for the purpose of
inducing immigration to the state, to buy, improve, develop farming
lands in the state of Virginia, and sell the same to persons or colonies
which the said company may induce to settle in the state of Virginia.

2. The said company shall have perpetual succession, and have power
to sue and be sued in all courts, whether in law or in equity, and may
make and have a common seal, and alter the same at pleasure, and shall
have all the rights and privileges of a corporation in the law and neces-
sary for the purposes of this act.

3. The capital stock shall not be less than one hundred thousand
dollars nor more than two hundred and fifty thousand dollars, the par
value of which shall not be less than one hundred dollars, and the
directors may receive cash, labor, material, bonds, stocks, real or personal
property, in payment of subscriptions to the capital stock at such valua-
tion and at such prices as may be agreed on between the directors and
the subscribers, and may make such subscriptions, payable in such man-
ner or amounts, and at such times as may be agreed upon with the sub-
scribers.

4. The principal office of said company shall be at Charlottesville,
Virginia.

5. That the names and residences of the officers who for the first
year are to manage the affairs of the company shall be as follows: Samuel
B. Woods, president, Arrowhead, Albemarle county, Virginia; John W.
Munson, director, New York citv, New York; #. T. Riddick, New York
city, New York; Doctor J. B. Emerson, director, New York city; Doctor
BW oods, director, Albemarle county, Virginia; John R. Sampson,
director, Albemarle county, Virginia; R. T. Martin, director, Charlottes-
ville, Virginia, who shall constitute the board of directors, with power
in the event of the death or resignation of any member to fill the vacancy;
the said board shall continue in office until the next meeting of the
stock Holders, or until their successors are elected by said stockholders.

That the Virginia immigration company shall be exempt from the
oayanent of all taxes upon this charter, as provided for in section eleven
hundred and fifty-three of the supplemental code; and as the property
of said company consists only in real estate bought with a view to locating
a colony of thrifty farmers, the real estate of the company shall be taxed,
and not the stock of the company.