JOHN WALTER SMITH, ESQ., GOVERNOR.

it shall be organized, and its proceedings shall be conducted
as may be prescribed in the by-laws of the company.

1027

SEC. 9. And be it enacted, That the said company shall
be authorized to issue its capital stock, or any increased cap-
ital stock which it may hereafter be entitled to have, in pay-
ment upon contracts for the construction or equipment of its
railway, or in payment for work done or materials furnished
therefor, or labor and services rendered, upon such terms as
may be agreed upon between the company and such contrac-
tors or persons doing such work or furnishing such materials
or rendering such labor and services.

May issue its
capital stock
in payment for
constuction,
etc..

SEC. 10. And be it enacted, That the said company shall have
power to purchase, acquire, hold, sell, lease, dispose of and
convey, real or leasehold property not exceeding one thousand
(1,000) acres at any one time, and to lay out thereon town sites,
and improve the same, erect hotels, cottages, places of amuse-
ment or any other buildings, and to sell, lease and manage the
same in any lawful way whatever, and generally to make such
lawful use of its said lands or property as it shall deem advis-
able; and also shall have the right to construct, erect and
operate lines of wire and generate electricity, and sell or lease
the same for illuminating purposes, and all other purposes to
which electricity may be applied along the line of said rail-
way, or any branch thereof in Baltimore County.

May acquire
land by pur-
chase or lease,,
erect hotels,
etc.

SEC. 11. And be it enacted, That the president and board
of directors of the said company are hereby authorized and
empowered to execute a mortgage or mortgages, or deed or
deeds of trust of any or all the real and personal property of
every kind and description belonging to the said company,
together with the franchises of the said company, for the pur-
pose of securing the payment of any bonds or certificates of
indebtedness to be issued by the said company, and the
interest on the same, for which interest coupons may be
attached to the said bonds, and such bonds and coupons may
be made payable upon such terms and in such times as the
said president and board of directors may deem proper.

May execute
mortgage or
deed of trust
on property
belonging to
said company.

SEC. 12. And be it enacted, That the said company shall
not charge more than five cents fare for the conveyance of
each passenger over twelve years of age, and not more than
three cents for each child between the ages of four and twelve
years of age within the limits of Baltimore City, and the rate
of fare shall not exceed two cents per mile in addition thereto
within the limits of Baltimore County; provided, said fare
shall not be less than five cents for each passenger for any
distance

Rates of fare
in city and
county.