The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-21
OF THE
BROOKjyEAL co.
Extracts From the Document Whose
Latitude Has Caused
Comment.
Comment.

Below will be found some extracts from
the charter of the Brookneal Mill and
Power Co., passed by the Legislature at
its recent extra session. and which mas
caused so much comment on account OF
the latitude allowed to corporatoTs under
its provisions
The corporatcrs named in the act are
DR.. Walter L. Williams. James NJ. Law
son, Charles NJ. Bruce, James d. Bruce,
and William Cabell Bruce. 1t will be
seen that the company may own and OPP
crate mills or do almost anything else
that is not prohibited by law in the State.
The principal Office of the company
shall be at Lynchburg or Brookneal,
says the charter, but it may at pleasure
establish branch offices anywhere else
either is or out Of the State when it
shall deem is necessary or proper.
The charter declares that the corpora
ton is created for the purpose of es-
tablishing, erecting, maintaining, con-
Quoting and operating at or near Brook
neal. in Campbell county, in the State
of Virginia, a mill or mills for the manu-
facture of any or al! kinds of cotton fab
RIGS, goods, stuffs or products, and for
establishing, erecting, maintaining. con-
Quoting and operating at or near Brook
neal any other kinds OF mills or manu-
factories, and Of selling, transporting,
distributing and delivering such cotton
fabrics, goods, stuffs or products, and
the manufactured or finished products of
such other kinds Of mills or manufac-
to.Ies, and with "a view to, and as a part
of said operation, Of accommodating, de-
veloncng and utilizing the whole power
of the waters of the Staunton River, and
all it's channels, etfiuents and branches
above SCOTS or Brookneal ferry, or SO
much thereof as they may deem neces-
sary or proper.
1.-The corporation is further au-
thorzed to take, receive, pur-
chase and acquire by any ordinary mode
of acquisition, all property, land, in
corporal hereditaments, rights, riparian
or otherwise, easements and privileges
that may be necessary, proper or con-
venient for the purposes of the preceding
section, and may in like manner acquire
all necessary and proper parcels or tracts
of land and sites for it's mills, manufac-
tories, outbuldings and tenements for it's
offices, agents, employees, operatives and
servants, and such other buildings, Struc-
lures or Improvements as may be rem
dered necessary or proper by its business,
which may embrace any other business,
whether manufacturing or otherwise,
that may seem to said corporation capa-
BILE of being conveniently carried on in
connection with its main operations, or
calculated directly Or indirectly, to en-
nance the value of said corporations
property or rights, and may erect and
maintain said mills factories, out build
ings and tenements, and such other build
ings, structures or improvements there
on"
The capital stock of the company shall
not be less than twenty thousand dol
lars. nor more than one hundred thou
sand dollars. divided into shares of one
hundred dollars each. The maximum
amount of capital stock, however. may
be increased to three million dollars.
after the minimum amount has been sub
scribed.
The act goes on to provide that the,
corporation may unite and consolidate
with any other such milling or maniac
tureing corporations and that 1T may
borrow money or issue bonds for any or
all of it,: corporate purposes.
Section 10 of the charter reads:
Section eleven hundred and forty-three
of the Code OF Virginia shall not apply
to said corporation. but the charter
granted by this act shall be perpetual,
subject to the right of the General AS
sembly to amend or repeal it at its pleas
ure, at any time after fifteen years from
the organization of said corporation