Chap. 163.—An ACT to incorporate the Appalachian Conduit Company.

Approved March 12, 1902.

1. Be it enacted by the general assembly of Virginia, That Edmund
Berkeley, William Beverley, Thomas H. Lion, Harry E. Waernicke, and
Cornelius B. Hite, their associates and successors, be, and they are hereby,
constituted a body politic and corporate by the name and under the style
of the Appalachian Conduit Company, and by that name shall have all
the privileges and rights conferred by, and be subject to all the provisions
of the general law of the State pertaining to works of internal improve-
ment, and corporations and chartered companies generally, so far as the
same shall be applicable to, and not inconsistent with the provisions of
this act.

2. The capital stock of said company shall be fifty thousand dollars,
divided into shares of one hundred dollars each, and may, from time to
time, be increased to any amount not exceeding three hundred thousand
dollars.

3. The Appalachian Conduit Company is authorized and empowered
to locate, construct, equip, maintain, and operate one or more conduits
or pipe lines to convey oil, gas, water, or either or all of them, or any
liquid or other substance, matter or material, commencing with its con-
duits, or pipe lines, upon the shore of the Chesapeake bay, or the shores
of any navigable tributary thereof, and extend the same to the West Vir-
ginia State line by such routes as deemed desirable or advisable by the
board of directors, and shall be lawful for said company at any time to
locate, construct, equip, maintain, and operate lateral or branch conduits
or pipe lines, each not exceeding fifty miles in length, which shall have
the same right, and be subject to the same privileges and restrictions
applicable to maintenance and operations of main conduits or pipe lines.

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4. The said company shall have power to issue its bonds and sell the
same, from time to time, on such terms as the board of directors may
deem proper, and to apply the proceeds thereof to the prosecution of any
of its works, and to secure the bonds so issued by one or more mortgages
or deeds of trust on the whole or any part of its holdings, property, or
chartered rights and franchises.

5. The said company may receive payment of subscriptions to its capi-
tal stock in valuable services, lands, interest in lands, materials, and
equipments at such valuation and upon such terms as may be agreed upon
between said company and the subscribers. The said company may ex-
change its bonds for any property, rights of way, or other elements of
value as may be deemed proper by the board of directors, and may hold,
develop, mine, and bore upon, and otherwise improve, operate, sell, lease,
and convey at pleasure all lands, interest in lands, and hold, use, and dis-
pose of other things of value so acquired: provided, that its said company
shall not hold any land or interest in any lands not needed for the pur-
poses of its incorporation for a longer period than ten years from the date
of the acquisition of such lands or interest in lands.

6. The said company shall have power to cross with its conduits or
pipe lines under any highway, railway, or any other work of internal im-
provement now in use or that may hereafter be constructed within this
State, subject to the provisions of the general law of the State of Virginia
as applied to works of internal improvement, crossing the rights of way
of other works of internal improvement; also to have power to cross with
the conduits or pipe lines under or over other conduits or pipe lines such
as may now be in operation or may hereafter be constructed within this
State, and also to have the power to locate and lay its conduits or pipe
lines across the water courses of the State, provided the same be placed
below interference with navigation upon such water courses: provided,
however, that the said pipe lines shall not be so laid and constructed as in
any way to interfere with or to contaminate the water supply of any town
or city of this Commonwealth, and shall not be constructed within the
limits of any incorporated city or town without the consent of the city or
town council of any such city or town.

7. The said company may acquire by condemnation, according to the
laws of the State of Virginia, in like manner as provided for other works
of internal improvement, the lands necessary for the rights of way for
its conduits or pipe lines, and the necessary stations, depots, yards, and
terminal facilitics, and other purposes necessary for the operation of said
conduits or pipe lines.

8. It shall be lawful for said company to subscribe to and hold shares
of the capital stock and bonds of any manufacturing or other corpora-
tion or enterprise, and guarantce the same; also to purchase its own stock
and bonds when offered on the market, and resell or retire the same.

9. It shall be lawful for said company to consolidate with, or lease, or
purchase the works, property, franchises, and privileges of any other
corporation operating conduits or pipe lines within the State of Vir-
ginia, or outside thereof, whose conduits or pipe lines connect with, or will
connect with, the conduits or pipe lines hereby authorized to be con-
structed; also connect its conduits or pipe lines with conduits or pipe
lines of any conduit or pipe line company incorporated, or to be incor-
porated, under the laws of the State of Virginia.

10. Such conduit or pipe line corporations which have been, or shall be,
in corporated under the laws of the State of Virginia are hereby au-
thorized to consolidate with, lease to, or sell its works, property, privi-
leges, and franchise to the Appalachian Conduit Company hereby incor-
porated : provided, such consolidation, lease, or purchase, or sale, shall be
made only on the terms and conditions as shall be agreed upon by two-
thirds of the stockholders of each said companies.

11. The said Appalachian Conduit Company shall never lose its
identity, or cease to be a domestic corporation, subject to the laws of this
State, by reason of any consolidation with, or lease, sale, or transfer of its
property rights, privileges, and franchise to any other corporation, and in
no event shall the conduits or pipe lines located, constructed, and equipped
by the Appalachian Conduit Company, whether operated by itself or con-
solidated with, or in any manner disposed of to another corporation, be
so operated as to discriminate in favor of the transportation of its own
products, or in favor of the transportation of products of any person or
corporation against the products of any other person or corporation.

12. The corporators named in this act shall constitute the first board
of directors of the said company, one of whom they shall elect president.
They shall adopt a code of by-laws, appoint a secretary and treasurer,
and other needed officers, who may be chosen from among the directors of
this company, and it shall be competent for any director to hold one or
more offices, and when so organized, the said board of directors may
change the corporate name of said company when deemed advisable, fill
at any time any vacancy in the board of directors, and exercise all powers
conferred by this charter; the secretary, in the event of a change in the
corporate name of said company, shall certify the same to the secretary
of the Commonwealth. The said incorporators named in this act shall
continue in office as a board of directors for one year after the date of the
approval of this act, and thereafter until their successors shall be
elected by the stockholders; each stockholder of this company shall, at all
meetings and elections held by the stockholders, be entitled to one vote
for each share of stock registered in his name.

18. The board of directors may establish offices and agencies at such
places within and outside of the State of Virginia as they may deem
proper, but the principal and general office shall be located at the town
of Manassas, in the State of Virginia.

14. No stockholder shall ever be liable, or made responsible, for the
debts or liabilities of the company in a larger or further sum than any
unpaid balance due the company on account of the agreed price of stock
purchased by said stockholder.

15. This act shall at all times be subject to amendment, alteration,
and repeal by the general assembly of Virginia.

16. The construction of one or more main conduits or pipe lines shall
be begun within two years from the first day of May, nineteen hundred
and two, and all main, conduit, or pipe lines be completed within twenty
years thereafter.
"1%. All taxes that may be assessed against said company shall be paid
in lawful money of the United States, and not in coupons.
18. This act shall be in force from its passage.