Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-29

right to Increase their number should
the stockholders, in general meeting,
representing the majority Of the stock.
so decide. The number Of directors
shall be elected annually by the stock
hoiders In the general meeting. The
PRESENT and all other Officers shall be
elected by the Board Of Directors, which
shall also fill all vacancies occurring in
its own body.
6. A majority of the incorporators
named in the first section of this act
may open books Of subscription to said
stock and the same may be subscribed
Tor at such times and in such manner
as a majority of the corporators named
III the first section Of this act may de-
termine. AS soon as the minimum
amount OF the capital stock shall have
been subscribed there shall be n meet
ing OF the subscribers for the purpose
oil organizing the company and electing
a, president and Board of Directors.
thereafter subscriptions may be taken
10 the capital stock by the Board of
Directors as the said board may deter
mine.
q. The said company is hereby au-
tnorized and empowered upon q vote
or the majority OF the stockholders in
meeting assembled, to sell or lease OF.
consolidate and merge it's privileges
properties. rights, works and fran
chises with those of any other COM
pany now chartered or which may be
hereafter chartered and in such man
ner and upon such terms under its
own name or the name of such other
company or any other name as the
stockholders of the several companies
so consolidated may agree upon In
the event of the consolidation above
mentioned, the said company Is hereby
authorized to receive as part of the
terms thereof and consideration for
10N
stocks and bonds of such consolidated
company as may be provided in the
agreement of consolidation, and may
use. hold or otherwise dispose of such
stocks and bonds as it may deem pro-
per. The consolidation and merger of
such companies and the organization of
such consolidated company shall be
deemed as taken as final and complete
so soon as the agreement of such con-
solidation fixing the terms. name and
consultations Thereof and the orEaniza-
ton of the consolidated companies shall
be lodged I'm the clerks office of the
Circuit Court OF the city OF Richmond.
Virginia: and the said consolidated
companies. under whatever name may
be so agreed upon. shall thereupon be,
and 1T hereby is, invested and clothed
with all the powers, rights, privileges,
franchises and properties of consoli-
dated companies rs fully and complete
ly as IL the same had been transferred
by deed. including the power to issue
and use such an amount of its stock
and bonds as may be necessary to carry
out the terms of such agreement of
consolidation.
S. All acts and parts of acts inconsist-
ent with this act arc hereby repealed.
.. This act shall be in force from it's
passage.
Note.-It is reported that the Gov
ernor did not sign this law. Whether
it had sufficient time to elapse before
adjournment of Legislature to become
n law without the Governors sigma
ture, we are not advised. 1t is also re-
ported 1--WE do not know whether true
or noD that the above measure was not
printed before its passage by the Leg
islature, rs required by the law.