Chap. 773.—An ACT to incorporate the New river telephone company.

Approved March 6, 1900.

1. Be it enacted by the general assembly of Virginia, That D. F.
Hale, H. Charlton, W. T. Ould, George C. Shumate, and H. H. Hale,
and such other persons as they may associate with them, and their suc-
cessors, be, and they are hereby, incorporated and made a body corporate
under the name of the New HRiver telephone company, for the purpose
of constructing, equipping, and maintaining and operating a line or lines
of telephones with the necessary and convenicnt exchanges and appli-
ances in the county of Giles and in other counties, cities, and towns in
the state of Virginia, and as such corporation 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 corporations and
chartered companies, and including all rights and privileges given by 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
Virginia on that subject, all real estate or easements necessary for the
convenient erection and mairrtenance of its lines, offices, and exchange,
and for the general conduct of its business. The real estate to be so
held by the said company, however, not to exceed twenty-five acres in
each county through which it operates.

3. The capital stock of the said company shall be not less than one
thousand dollars nor more than five thousand dollars, divided into shares
of fifty 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 corporation may
determine.

4. When the minimum amount of capital shall have been subscribed,
the subscribers may meet upon such notice as the said incorporators, or
a majority of them, shall determine, and elect a president and a board of
directors, and such other officers as they may deem best, and at such
meeting each subscriber may in person, or by written proxy, cast one
vote for each share of stock subscribed for by him. The board of
directors may consist of any number that the stockholders may, from
time to time, determine. After such election the said company shall
be deemed thereupon duly organized, and the boards 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,
and published as required by law.

5. This company is incorporated for the conduct of a general tele-
phone business, and to that end authority is hereby granted to it to
erect and maintain all poles, wire, cables, conduits, and lines necessary
and proper for the conduct of such a business, subject to the general laws
of the state of Virginia, and to establish all offices and exchanges neces-
sary for the conduct of such a business.

6. The said company may acquire by purchase or lease any of the

roperty or rights of any other telephone company or partnership con-
Fucting a telephone business, and may make any contract with any other
such company or partnership consistent with the laws of the state of Vir-

nia. ,

7%. The said company shall have power to connect or make traffic
arrangements for the interchange of business with any other telephone
company or companies heretofore or hereafter incorporated, or any
partnership conducting a telephone business, and may acquire and hold
the necessary 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 deeds of trust upon its property, works, and franchises
or otherwise.

9. Said company shall commence its operation within one year from
the passage of this act, and all taxcs or demands due, or to become due,
to the state of Virginia by said company to be paid in lawful money of
the United States, and not in coupons.

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