JOHN WALTER SMITH, ESQ., GOVERNOR.

755

laws of Maryland, be and it is hereby authorized to increase
its capital stock from one hundred thousand dollars to one
million dollars, divided into shares of fifty dollars each ; and
in the event that the amount of capital stock subscribed prove
insufficient to construct, complete and fully equip said railroad,
then the directors of said company may issue from time to
time in the name of said company, mortgage bonds to an
amount sufficient in the judgment of the board of directors
to complete and fully equip said railroad, and secure the pay-
ment of said bonds by mortgage of all or any part of the
property, rights, franchises, tolls or revenues of said company.

CHAP. 617.

Capital stock
to be
increased.

SEC. 2. And be it enacted, That said company shall have
power to sell or lease electricity for lighting purposes or for
power purposes, and charge therefor such rates as compensa-
tion therefor as the board of directors may from time to time
determine ; provided, however, that all the powers and fran-
chises granted herein to this corporation, as far as they apper-
tain or relate to Baltimore city, shall be subject to the pro-
visions of chapter 123 of the Acts of 1898, and all Acts
amendatory and supplementary thereto, known as the Balti-
more City Charter ; and further, that before it commences or
extends its operations in said counties, it shall first obtain the
consent of the proper authorities therein.

Authority to
sell or lease
electricity for
lighting or
power
purposes.

SEC. 3. And be it enacted, That the charter of said com-
pany shall be perpetual.
SEC. 4. And be it enacted, That after the completion of said
railroad, the real and personal property of said company and
its stocks, rights, privileges, revenues, tolls and income be and
the same shall be only subject to State taxation for the term
of ten years, after which time it shall be subject to taxation
for State, county and municipal purposes.

Perpetual.

Subject
to taxation.

SEC. 5, And be it enacted, That said company shall have
power to haul passengers, parcels, packages and freight over
said railroad, and to charge therefor such rates as compensa-
tion therefor as the board of directors may from time to time
determine.

Certain
powers
granted.

SEC. 6. And be it enacted, That the construction of the
main line from Reisterstown, Maryland, to the Pennsylvania
State line via Westminster, Maryland, shall be commenced
within two years, and completed within three years from the
passage of this Act.
SEC. 7. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 11, 1902.

Commence-
ment and
completion
of road.