394

LAWS OF MARYLAND.

Officers may
purchase.

Sec. 16. 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,
all engines, cars, machines, vehicles or carriages
of any description whatsover, 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 tolls.

roads, 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 distance
twenty-five cents may be charged for a passenger,
or for any quantity of freight.

Make con-
tracts.

Sec. 17. And be it enacted, That the said Presi-
dent and Directors shall have full power and
authority to make contracts, connections, or such
arrangements with other railroads, now in exist-
ence, or which may hereafter he constructed for
the through transportation of passengers and mer-
chandise and all property of what kind soever, in
the cars or carriages of either Company, as may
appear to said President and Directors convenient
and advantageous.

Borrow
money.

Sec. 18. And be it enacted, That the President
and Directors of said Company shall have power,
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, as they may select, a mortgage or mort-

Secure by

gages of the whole, or any part of the road, or 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 annulled or abated because the same may
be disposed of by said Company at less than its
par value.