Chap. 461.—An ACT to incorporate the Virginia-Carolina Telephone Company.

Approved April 2, 1902.

1. Be it enacted by the general assembly of Virginia, That Thomas H.
Wilcox, N. Benman, James V. Trehy, Alvah H. Martin, and G. F.
Palmer, and such other persons as they may associate with them, and their
successors, be, and they hereby are, incorporated and created and made a
body corporate under the name of the Virginia-Carolina Telephone Com-
pany for the purpose of constructing, equipping, maintaining, and Op-
crating a line or lines of telephones, with the necessary and convenient
exchanges, in the city of Norfolk and in the counties of Norfolk and
Princess Anne, in the State of Virginia, or any of them, and as such cor-
poration they shall have all the general powers and be subject to all the
general restrictions conferred and imposed by the laws of Virginia now
or hereafter in force as to corporations and chartered companies.

2. The capital stock of said company shall not be less than one thousand
dollars nor more than five thousand dollars, divided into shares of one
hundred dollars each; and it shall not be necessary to give any notice of
the opening of subscriptions to said stock, but the same may be sub-
scribed in such manner and at such times as a majority of said corpo-
rators shall determine.

3. When the minimum amount of capital stock shall have been sub-
scribed, the subscribers may meet upon such notice as the said corporators,
or a majority of them, shall determine, and elect a president and board of
directors, and such other officers as they may deem best. At such mcet-
ing each subscriber may, in person or by proxy, cast one vote for each one
hundred dollars of stock subscribed for by him. The board of directors
may consist of any number that the subscribers or stockholders may, from
time to time, determine. After such election the said company rhall be
thereupon deemed duly organized, and the board 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. Gencral 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, such notice
to be published for the length of time fixed by said board in one or more
newspapers published in the city of Norfolk.

4, The said company shall have power to erect and maintain poles and
wires on the streets of the cities of Norfolk and Portsmouth: provided,
the consent of the city council of said cities be first obtained, and to erect
and maintain poles and wires along the public roads of the counties of
Norfolk and Princess Anne, subject to the approval and supervision of
the board of supervisors of said counties, respectively, when public roads
are required, and subject to the fee-simple rights of adjacent land owners.
It shall also have power to lay cables under the waters of the Elizabeth
river: provided, the same do not obstruct or interfere with navigation.

5. The said company shall have power to conduct or make traffic ar-
rangements for the interchange of business with any other telephone or
telegraph company or companies heretofore or hereafter incorporated,
and may acquire and hold the necessary and convenient patents and
property.

6. 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
mortgages or deeds of trust upon its property, works, and franchises, or
otherwise.

7. This act is subject to the proviso that work hereunder shall be com-
menced within two years, and the said company be in operation within
three years from and after the passage of this act, and all taxes or de-
mands due or to become due to the said State of Virginia must be paid
in lawful currency of the United States, and not in coupons. The gen-
eral assembly reserves the right to amend, alter, or repeal this charter.

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