Chap. 36.—An ACT to incorporate the Giles and Bland county transportation
and development company.

Approved February 8, 1901.

1. Be it enacted by the general assembly of Virginia, That W. E. C.
Merriman, C. LaRue Munson, G. T. Porterfield, Elias Emmett, T. G.
Porterfield, and J. C. Honaker be, and they are, hereby incorporated and
made a body politic, under the name and style of the Giles and Bland
county transportation and development company, and as such may sue
and be sued, have a common seal, and have and exercise all the powers
usually conferred by law upon a body corporate under the laws of the
State of Virginia.

2. The capital stock of said company shall be not less than one thou-
sand dollars nor more than twenty thousand dollars, to be divided inte
shares of one hundred dollars each; and said capital may be increased
from time to time in the mode prescribed by law.

3. The capital stock of said company may be paid in money, or in
property, real or personal, in such manner, upon such terms, and at such
valuation as may be agreed upon by the board of directors of said com-
pany; and when said stock is so paid up and shown to be paid on the
books of the company. there shall be no other or further personal liability
on the stockholders therefor.

4. The principal oflice of said company shall be at Interior, in Giles
county, Virginia. or elsewhere in the county of Giles or Bland, Virginia,
as the board of directors may select.

5. The board of directors of said company shall consist of five persons.
to be selected by the stockholders on organization of the company, and
ereafter annually as the by-laws may prescribe; and said company may
opt such by-laws, rules, and regulations for the management of its
siness, and may take from its officers and employees such bonds, in such
1ounts and penalties as it may prescribe, so that the same be not con-
ry to law.
6. The said company shall have power to construct, repair, to lease.
d to operate any railroad now existing, or which may hereafter exist,
either the county of Giles or in the county of Bland, in the State of
reinia, and may, upon terms to be agreed on, merge or consolidate its
operties and franchises with any such railway company, and may make
ch contracts for transportation over said lines as it may agree upon
th other persons or companies, so that the same be not contrary to
w; and the said company shall also have power to construct or repair.
whole or in part, any railroad, tramway, or other line or means of
ansportation anywhere in either of said counties, and may contract for,
ke, and hold all such bonds, mortgages, or other securities for its pro-
ction, as it may determine on and acquire, and make any and all such
ntracts for the purchase and transportation of ores, minerals, metal.
90d, timber, and the products thereof in either of said counties, as it
ay desire: provided, the same be not contrary to law.
7%. The said company agrees to pay all taxes which may accrue to the
ommonwealth in lawful money, and not in coupons.
8. This act shall be in force from its passage.