Chap. 644.—An ACT to incorporate Dumps creek railroad and mining
company.

Approved March 6, 1900.

1. Be it enacted by the general assembly of Virginia, That E. Cooper
Shapley, Joseph Berens, J. Yost, W. E. Harris, and J. M. Young, or
such of them, or such other persons as may associate themselves together
with the said persons, be, and they are hereby, constituted a body
yolitic and corporate, under the name of the Dumps Creek railroad and
mining company, and by that name shall have perpetual succession,
4 common seal, with the right to alter the same at pleasure, and shall
aave the right to sue and be sued, plead and be impleaded in the courts,

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and shall have all the rights and privileges and be subject to all the
restrictions imposed on such corporations by the general law.

2. The said company shall have the right to purchase, lease, and hold
coal, mineral, timber, and other lands in the counties of Russell, Dick-
enson, and Wise, and to improve, sell, exchange, lease, mortgage or
otherwise dispose of or encumber the same. It shall have the right to
mine coal and other minerals, to bore for oil and gases, to buy timber
and saw and market the same, to erect buildings, to construct coke ovens
and manufacture coke, and to procure and operate all machinery neces-
sary for its purposes, and to deal in all commodities incident to its busi-
ness.

3. The said company shall have the right to construct and operate
a standard or narrow gauge railroad, from the Norfolk and western
railroad, or any of its branches, in the counties of Russell, Dickenson,
and Wise, to any point in the said county from which the said company
or others may have tonnage in prospect of shipment, and to transport
freight and passengers thereon, and to charge and receive such tolls
as are allowed by the general laws of the state, and shall have the
right of condemnation of land, under the general law of this state, for
the purpose of the construction of such railroad.

4. The capital stock of said company shall not be less than ten thou-
sand dollars, to be divided into shares of the par value of one hundred
dollars each, but the said company may increase the capital stock not
to exceed the sum of three hundred thousand dollars, which capital stock
may be paid in cash or in property, as the board of directors of the said
company may decide to receive. Whenever ten thousand dollars shall
have been subscribed to the capital stock of the said company, the sub-
scribers thereto, or their personal representatives, shall be permitted
to organize the said corporation, and the said company may then pro-
ceed with all its operations, and enjoy and exercise all of the rights
and privileges granted by this act. At all meetings of the stockholders
each share of stock shall be entitled to one vote.

5. The amount of real estate to be held by the company, at any one
time, shall not exceed fifty thousand acres.

6. The principal office shall be in Staunton, Virginia, with branch
office in Russell county, Virginia.

?. The stockholders of the company shall meet as soon as practicable
after the requisite amount of stock has been subscribed, and shall pro-
ceed to elect not less than five nor more than ten directors, to serve
until the next annual mecting of the stockholders; and annually there-
after at the regular annual meeting of the stockholders of the said
company there shall be elected a similar number of directors, who shall
serve for one year and until their successors are elected. The said
directors shall elect from one of their number a president of the said
company, whose term of office shall be one year and until his successor
is elected, and shall also elect a secretary and treasurer, whose term of
office shall be for the same time as that of the president. The said
directors shall have power to make and enact rules and by-laws for the
government of the company, and shall have power to appoint and re-
move all necessary officers and agents of the company, and shall conduct
and have general charge of the business.

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8. The said company may borrow money and create indebtedness for
the purposes of its business in such manner as may be prescribed by
the board of directors, and may issue notes or bonds to cover the same,
and may secure the same by deeds of trust or mortgages on its property,
privileges and franchises, and dispose of the same as the directors may
prescribe.

9. The said company shall be required to commence the construction
of any railroad which it is authorized to construct by the terms of this
act, within two years from the passage thereof and to complete the
construction of same within five years thereafter, or otherwise the
powers, privileges, and franchises hereby granted shall be annulled and
become void, except as to so much of the said road as shall have been
actually constructed or put in course of actual construction.

10. The company agrees to pay all taxes, dues, and demands now or
hereafter due to the state of Virginia, in lawful money and not in
coupons.

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