332

LAWS OF MARYLAND.

Sec. 17. And be it enacted. That the President
and Directors shall have power to purchase with
the funds of said Company, and place and use on
any Railroad constructed by them under this Act,

Equip road.

all engines, cars, machines, vehicles or carriages,
of any description whatsoever, which they may
deem proper for the purposes of transportation on
said Railroad or Railroads, or any section thereof,
and they shall have power to demand and receive
for tolls upon and the transportation of persons,
goods, produce, merchandise, or property of any
description transported on said Railroad or Rail-

Rate of charge

roads, charges at rates not exceeding ten cents per
ton of property, or five cents per passenger for each
and every mile of transportation, but for any dis-
tance twenty-five cents may be charged for a pas-
senger, or for any quantity of freight.

Sec. 18. And le it enacted, That the said Presi-
dent and Directors shall have full power and au-

Authority to
make contract

thority to make contracts, connections or such
arrangements with other Railroads now in exist-
ence, or which may hereafter be constructed for
the through transportation of passengers and mer-
chandise, and all property of what kind soever in
the cars or carriages of cither Company, as may
appear to said President and Directors convenient
and advantageous.

Sec. 19. And be it enacted, That the President
and Directors of said company shall have power

May borrow
money.

from time to time to borrow money for the pur-
poses of this Act, not exceeding in the aggregate
the sum of three hundred and fifty thousand dol-
lars, and to issue their bonds therefor, in sums not
less than one hundred dollars, and to secure the
payment of said bonds and the interest thereon, by
executing and delivering to such trustee or trustees

Mortgages.

as they may select a mortgage or mortgages of the
whole or any part of the road, or of any of its branch
roads, property, rights, liberties and franchises;
and no bonds of said company issued in good faith
under the provisions of this section shall be an-
nulled or abated because the same may be disposed
of by said company at less than its par value.

Annual divi-
dend.

Sec. 20. And be it enacted, That the said Presi-
dent and Directors shall annually or semi-annually
declare or make such dividends as they may deem