Chap. 589.—An ACT to incorporate the Virginia automobile company.

Approved March 6, 1900.

1. Be it enacted hy the general assembly of Virginia, That Charles
A. Lieb, J. B. Lackey, George H. Haries, C. C. Carlin, and Louis C.
Barley, and such other persons as may hereafter be associated with
them, their successors and assigns be, and they are hereby, constituted
a body politie and corporate, to be known as the Virginia automohile
company, and bv that name shall have perpetual succession; may sue
and be sued, plead and be impleaded in all the courts of law and equity
in this state; and may have, make, and use a common seal, and the same
break, alter, and renew or change at their pleasure; and may make,
ordain, establish, alter, or amend such by-laws, ordinances, and regu-
lations concerning all matters or organization and business, not herein
~pecifically provided for as they may think proper, and gencrally may
do everv act and thing necessary to carry this act into effect, or to pro-
mote the objects and designs of the corporation: provided, that such
by-laws, ordinances, and resulations or acts be not inconsistent with
the Jaws of this state or of the United States.

2. Said company shall be, and is hereby, empowered to promote,
establish, and maintain the business of a ‘general automobile manu-
facturing and operating company; to erect, use, establish, maintain, and
operate factories, manufacturing, generating, and converting plants,
and purchase or sel]. or manufacture automobiles and other mechanical
vehicles, as well as things or products that will benefit the purposes of
this company in any of the cities, counties, or towns of the state of
Virginia; and may manufacture, use, sell, purchase, rent, hire or sell,
or operate by steam, gas, electricity, air, naphtha, or other motive power,
automobiles or other mechanical vehicles, in any of the cities, counties
or towns, and to establish therein such route or routes as it may deem
fit for the operation of its vehicles on or along the roads and strects,
public squares, and parks thereof, as it mav desire; and is hereby au-
thorized to open and maintain new roads, and to purchase, manufacture,
and sell all apparatus. appliances, and supphes used directly or indi-
rectly in connection therewith; and may establish repair, charging,
resting, and refreshment stations, as well as generating or manufactur-
ing plants; and shall have the right in this state to build and maintain
such works as it may desire for the storage, handling, delivery, and
transmission of its products; and may operate any of its automobiles
or other mechanical vehicles for carrying of passengers, express, freight,
or United States mail, and may charge and collect fares or tolls there-
for. And the said company may maintain and operate its automobiles
or other mechanical vehicles over the bridges or rivers of this state,
subject to reasonable limitations and agrcements, which may be im-

posed or entered into by the persons or corporations owning or con-
trolling the same, or in case of any free bridge, by the commissioners
having such bridge i in charge.

3. Authority is hereby conferred upon said company to sell or lease
or otherwise dispose of the whole or any part of its rights, properties,
appurtenances, or franchises to any other company or corporation here-
tofore or hereafter chartered, whether by the general assembly of Vir-
ginia or under section eleven hundred and forty-five of the code and
the acts amendatory thereof, and the said company may acquire or lease
from the owners, or any other like company, the w hole or anv part of
its rights, properties, appurtenances, or franchises, and any other com-
pany is hereby given authority so to do.

4. The capital stock of said company shall not be less than twenty-
five thousand dollars nor more than one hundred thousand dollars,
divided into shares of the par value of one hundred dollars each. The
above named, or any three of the above named incorporators, to be
selected by themselves, are hereby created a commission, and are au-
thorized to receive subscription to the capital stock of said corporation,
and for this purpose may open subscription books in such manner as
they may deem necessary, and may keep the same open until the mini-
mum amount above named shall have been subseribed. Thereafter,
within their discretion, they mav call a meeting of the subscribers and
organize the company. From time to time the capital stock may be
increased, under such regulations and upon such terms, and at such
price as the board of directors of said company may prescribe, until the
maximum amount above named shall have been issued: and the poare
of directors may receive cash, labor, material, franchises, bonds, o
stock of other incorporated companies, lands, rights of way, and other
property, real or personal, in payment of subscriptions to the capital
stock at such valuation as may be agreed upon.

5. The said company may consolidate its stock, property, or fran-
*hises with those of any other like company, upon such terms as may
»e agreed upon between the respective board of directors of such com-
yanies so united or consolidated, and for such purpose power is hereby
rranted it, and to such other company or companies to make and carry
put such contracts as will facilitate and complete such connections or
-onsolidation, and to exchange the stock or bonds, real, personal, or
nixed property of such other companies so united or consolidated for
uch purposes, and any company or corporation with which this com-

yany shall merge or be consolidated is hereby given the right to lease,
nerge, or consolidate, and shall have all the rights, powers, and _privi-
eres reserved for the use and benefit of the company hereby incorpo-
ated.

6. The said company may acquire by subscription, purchase, or other-
vise, the stock or bonds of any other incorporated company, and it
hall be lawful for said company to issue bonds or other securities from
time to time for such sums and upon such terms as its board of directors
may deem expedient, and may secure the payment of any bonds or other
securities by deed or deeds of trust, or mortgage or mortgages upon all
or any of its rights, property, appurtenances and franchises, including
its franchise to be a corporation, and may reserve the right to the com-
pany to confer on the holders of any bonds of said company the right
to convert the principal thereof into stock of the same company at any
time; and any other incorporated company may, by purchase, subscrip-
tion, or otherwise obtain, hold, or transfer the bonds or stock of said
company.

The amount of real estate to be owned and held by said company
shall not exceed at any one time five thousand acres of land.

8. The principal office of the company shall be in the city of Alex-
andria, but it may establish branch offices in anv other section of the
state of Virginia, or elsewhere, wherever it may be convenient or nec-
essary for the use of the company and the conduct of its business, and
for the purposes of this act the company hereby incorporated mav have
and exercise all the powers of an internal improvement company.

The officers of said company shall be a president, vice-president.
cooretary and treasurer, and a board of directors, including the president
and vice-president, who shall be ex officio members, and such other
officers as the board of directors may from time to time determine:
and the terms of office, modes of election, and duties of said officers
shall be prescribed by the by-laws of said company, subject to the
general law of this state.

10. All taxes due to the commonwealth by said company shill be
paid in lawful money of the United States, and not in coupons.

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