390

LAWS OF MARYLAND.

Additional
subscription.

Directors, for the time being, may from time to
time, at their discretion, open books for additional
subscriptions to the stock of said Company, of as
many shares of said stock as they may deem ne-
cessary and announce their desire to have sub-
scribed, and may receive subscriptions for the
same, or sell the same at a price not below their
par value, after giving at least thirty days' notice
of the opening of said books for subscription, or

May sell.

of their intention to sell said shares, as the case
may be; provided, that the said President and
Directors shall not increase the capital stock be-
yond said sum of six hundred thousand dollars.

Sec. 11. And be it enacted, That the said shares
of stock shall be personal property to all intents,
and certificates thereof may be issued in such form.

Personal pro-
perty.

as said Commissioners shall prescribe until the
organization of said Company, and afterwards in
such form as the by-laws shall prescribe, and said
shares may be transferred in such manner as the
by-laws shall prescribe, but no share shall be
transferred without the consent of said Company.

Double or
single track.

Sec. 12. And be it enacted, That the said Com-
pany is hereby authorized and empowered to con-
struct, use and maintain a railway of double or
single track from some point at or near Salisbury,
in the county of Wicornico, to some point on the
Philadelphia, Wilmington and Baltimore Railroad
at or near the town of Elkton, Cecil County,
Maryland, or some point on the Chesapeake Bay
or its tributaries, with power to construct any
bridge or bridges over any streams or waters on
the route of the same ; but when any bridge is
erected over any canal or navigable river or creek,

Drawbridge.

it shall be the duty of said Company to construct
and keep in repair a sufficient draw in said bridge
in the most navigable part of said canal, river or
creek, for the purpose of letting vessels pass and
re-pass ; which draw shall at all times, by day and
by night, on the approach of any masted vessel or
vessels, be drawn at the cost of said Company, so
as to admit the free passage of said vessel or ves-
sels ; and whenever, iti the construction of said

May cross read

road or roads, or of any branch road, as herein-
after provided for. it shall be necessary to cross or
intersect any established road or way, either pub-