Chap. 94.—An ACT to incorporate the Radford water-power company.

Approved February 13, 1901.

1. Be it enacted by the general assembly of Virginia, That George
W. Miles, of Radford, Virginia; H. L. Morgan, and R. L. Jordan, Rad-
ford, Virginia; T. P. Trigg, of Abingdon, Virginia; Gustav Radetzki,
of New Orleans, Louisiana; J. H. Carper, of Pulaski county, Virginia,
and George Taylor, of New Orleans, Louisiana, or such of them as may
accept the provisions of this act, their associates and successors be, and
they are, hereby incorporated and made a body, politic and corporate,
under the name and style of “the Radford water-power company,” and
by that name shall be known in Jaw, and shall have perpetual succession,
and have power to sue and be sued, plead and be impleaded in all courts,
whether in law or equity, and may make and have a common seal and
alter and renew the same at pleasure, and shall have, enjoy, and exercise
all the rights, powers, and privileges, pertaining to corporate bodies and
necessary for the purposes of this act, and may make by-laws, rules and
regulations consistent with the existing laws of the state of Virginia for
the government of all under its authority, the management of its estates
and properties. and the due and orderly conduct of its affairs.

2. The said company is authorized and empowered to engage in any
manufacturing business in the counties of Pulaski and Montgomery,
and city of Radford, and to acquire, construct and own buildings and
machinery for manufacturing purposes of any nature whatsoever, and
to acquire, purchase, own and operate mines, mineral properties and
stone quarries, and may mine, manufacture, transport and sell all stone,
metals, minerals, and their products, and to acquire, purchase, own,
construct and operate strect railways, and to furnish water {for either
drinking, domestic, manufacturing or hydraulic purposes to the public,
meluding both individuals and corporations, and to supply to the public,
both individuals and corporations, within the counties of Pulaski and
Montgomery, and the city of Radford, power in form of electric current
and hydraulic, pneumatic and steam pressure, or any of the said forms,
and in any or all other forms for use in driving machinery, and for
light, heat, and all other uses to which the power so supplied can be
made applicable, and to fix, charge, collect and receive rates and tolls
therefor; and for the purpose of enabling the company to supply power
as aforesaid, the company is authorized and empowered to buy, or other-
wise acquire, gencrate, develop, store, use, transmit and distribute power
of all kinds, and to locate, acquire, construct, equip, maintain and ope-
rate, from a point on Little river or New river, in Pulaski or Mont-
gomery counties, by the most practicable route, to be determined by the
board of directors of the company, to such points in the counties of
Pulaski or Montgomery, or the city of Radford, as they may select, a
line for the transmission of power, by wires on poles or underground,
and by cables, pipes, tubes. conduits. and all other convenient appliances
for power transmission, with such branch lines in the said counties as
a majority of the stockholders of the company may locate, or authorize
to be located, for receiving, transmitting and distributing power; and
as appurtenances to the said line of power transmission and its branches,
the company may acquire, own, hold, sell or otherwise dispose of water-
powers and water-privileges in the counties of Pulaski and Montgomery,
and city of Radford, and may locate, acquire, construct, equip, main-
tain and operate all necessary plants for generating and developing, by
water, steam or any other means, and for storing, using, transmitting,
distributing, selling and delivering power, including dams, gates,
bridges, sluices, tunnels, stations, and other buildings, boilers, engines,
machinery, switches, lamps, motors, and all other works, structures,
and appliances in the said counties of Pulaski and Montgomery, and
city of Radford: provided, that the amount of land which the company
may at any time hold within said counties and city for its water-powers
and other works, as well as the land flowed or submerged with the water
accumulated by its dam shall not exceed five thousand acres, exclusive
of right of way; and said company may construct its pole and wire lines
and conduits along or under county roads, subject to such regulations
as the county court of Montgomery and the board of road commissioners
in the county of Pulaski may prescribe for such use of said roads as will
protect the public, and after such regulations have been prescribed, and
along and under the streets of any city or town in said counties, subject
to the consent of the council of such city or town, and under such condi-
tions and limitations as such council may impose.

3. The capital stock of the said company shall not be less than twenty-
five thousand dollars ($25,000), and may, with the consent of a majority
of its stockholders, be increased from time to time to any additional
amount, not exceeding fifty thousand ($50,000) dollars, by the issue
and sale of shares of preferred or common stock, or both, upon such terms
and conditions and under such regulations as the board of directors,
with the approval of the majority in interest of the stockholders of said
eompany shall prescribe; but the par value of every share of stock shall
be one hundred dollars; and the directors, with like approval of the
stockholders, may receive cash, labor, material, bonds, stock, contracts,
real or personal property, in payment of subscriptions to the capital
stock, and may make such subscriptions payable in such manner or
amounts at such times as may be agreed upon with the subscribers ;
and whenever two hundred and fifty shares shall have been subscribed to,
and the sum of five hundred dollars paid in cash, the subscribers, under
the direction of a majority of the corporators hereinbefore named, who
themselves shall be subscribers, may organize the said company by elect-
ing a board of directors and providing for the election or appointment
of such other officers as may be necessary for the control and managc-
ment of the business and affairs of said company, and thereupon they
shall have and exercise all powers and functions of a corporation under
their charter and the laws of this state.

4. It shall be lawful for said company to borrow money and issue and
sell its bonds from time to time for such sums and on such terms as its
board of directors may deem expedient and proper for any of the pur-
poses of the company, and may secure the payment of said bonds hy
mortgages or deeds of trust upon all or any portion of its property—
real, “personal or mixed—its contracts and privileges, and its chartered
rights and franchises, including its franchise to be a corporation; and
it may, as the business of the company shall require, sell, convey, and
encumber the same; and it shall be lawful for said company to subscribe
to, hold and guarantee the stock and bonds of manufacturing or other
corporations in the counties of Pulaski and Montgomery and the city
of Radford, and any manufacturing or other corporations may subscribe
to, guarantee and hold the stock and bonds of the said company.

5. The said company may connect or unite its lines for the trans-
mission of power with those of any company or companies, or consoli-
date and merge its stock, property, and franchises with and into those
of any other company or companies incorporated under the laws of this
state or any other state of the United States, operating or authorized
to operate lines for the transmission of electric or other power, upon
such terms and under such name as may be agreed upon between the
companies uniting and connecting, merging or consolidating, or may
eequire the said property and franchises ‘of such other company or com-
penics by lease or purchase, and for. that purpose power is hereby given
to it and to such other company or companies to make and carry out
such contracts as will facilitate and consummate such connections, mer-
ger or consolidation, lease or purchase.

6. The said company may acquire in the counties of Pulaski and
Monigomery and the city of Radford, by condemnation, in the same
manner that railroad companies may under the laws of Virginia acquire
land for their works, strips of land not exceeding twenty-iive feet in
width, with necessary additional width in deep ents and fillings required
hy the company for its power, transmission lines and wires.

% The said company shall be required to commence the construction
of its works within two years from the passage of this act, otherwise the
powers, privileges and franchises hereby granted shall be forfeited.

8. Each stockholder in the said company shall, at all meetings and
elections, be entitled to one vote for cach share of stock registered. in his
name, and the stockholders of said company may enact -uch by-laws,
rules, and regulations for management of said company as they may deem
proper and expedient.

9. The board of directors shall be composed of stockholders of said
company, and shall consist of such number as the stockholders may
prescribe from time to time by the by-laws, and shall be elected at the
stockholders’ (annual) meeting, to be held on such davs as the by-laws
of the company may direct, and shall continue in office for the term
of one year from and after the date of their election, and until their
successors are elected and accept the duties of the office; and they shall
choose one of their number president; and in case of the death, resigna-
tion, or incapacity of any member of the board of directors during his
term of office, the said board shall choose his successor for the unex-
pired term.

19. No stockholder in the said company shall be held liable or made
responsible for its debts and liabilities in a larger or further sum than
the amount of any unpaid subscription upon his stock.

11. The general assembly of Virginia reserves the right to alter,
amend, or repeal this charter; and whenever the corporation shall exer-
cise any of the privileges conferred by this act it shall be liable to the
same taxes as may be imposed by law upon other like corporations or
persons exercising like privileges; and all taxes due the commonwealth
by said company shall be paid in lawful money of the United States
and not in coupons.

12. The principal office of this company shall be located in the city
of Radford, state of Virginia.

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