CHAP. 348.--An ACT to incorporate the Onancock telephone company.

1. Be it enacted by the general assembly of Virginia, That Spencer F. Rogers, John V. Rogers, Henry R. Boggs, John W. Kellam, Edward E. Miles, Julius I. Belote, Charles H. Rogers and John T. Finney, 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 Onancock telephone company" for the purpose of constructing, equipping, maintaining and operating a line or lines of telephones with the necessary and convenient exchanges in the town of Onancock, and in the county of Accomac, in the state of Virginia, and as such corporation 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 fifteen hundred dollars nor more than five thousand dollars, divided into shares of twenty-five 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 subscribed in such manner and at such times as a majority of said corporators shall determine.

3. When the minimum amount of capital stock shall have been subscribed 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 meeting, and at every meeting of stockholders, each subscriber may in person or by proxy cast one vote for every twenty-five 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 shall be thereupo 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.

4. The said company may acquire by purchase or lease any of the property or rights of any other telephone company, and may make any contract or traffic arrangement for the interchange of business with any other such company consistent with the general laws of the state.

5. The said company shall have power to erect and maintain poles and wires on the streets of the town of Onancock: provided, the consen of the town council be first obtained, and to erect and maintain poles and wires along the public roads of the said county of Accomac, subject to the fee simple rights of adjacent landowners: and provided, that travel along said roads be not interfered with.

6. The first meeting of the stockholders shall be held as soon as convenient after the passage of this act and annually thereafter on the fifteenth day of January in each year, and at such other times as the stockholders may be convened by order of the board of directors upon notice to the stockholders or upon publication of the said notice for at least one week in some newspaper published in said county of Accomac.

7. The officers and board of directors elected at the first meeting of the stockholders shall serve until January the fifteenth, eighteen hundred and ninety-nine, and their successors shall be elected annually thereafter at the first regular meeting in each year: provided, that each of said officers and the board of directors shall serve until their successors are elected.

8. All debts or demands due or to become due to the state of Virginia from the said company shall be paid in currency and not in coupons.

9. The general assembly of Virginia reserves the right to alter, amend or repeal this act at pleasure.

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