518

LAWS OF MARYLAND.

the full enjoyment of the benefits of said franchise,
and may possess and hold any property, real or
personal, necessary for the aforesaid purposes, and
acquire the same by agreement or by the con-
demnation of a jury, in the same manner and upon
the same conditions and terms as are prescribed by
the said Act of eighteen hundred and sixty-four,
Chapter one hundred and sixteen.

Distinct road.

2. And be it enacted, That for all the purposes
of construction, the said road, from Berlin to the
Bay shore or beach aforesaid, shall be held and
considered to be a separate and distinct road from
the parent road from Salisbury to Berlin, and the
property, real or personal, acquired by the said
company for the building and working the same,
and the profits and revenues arising from the same

Exempt.

after it shall be in working or running order, shall
not be liable to any of the present debts and obli-
gations of the company, until the debt incurred for
the construction and fitting out of the said addi-
tion to the Bay shore or beach, and secured as
hereinafter provided, upon said addition, property,
profits and revenues, shall have been first satisfied
and discharged.

To build
wharves and
piers.

3. And be it enacted, That the President and
Directors of the Wicomico and Pocomoke Railroad
Company, or a majority of them, are hereby au-
thorized and empowered, for the purpose of con-
structing the said addition from Berlin to the Bay
shore or beach aforesaid, building wharves, piers,
and any other incidental work necessary for the
full and beneficial enjoyment of said franchise, to
negotiate a loan, and to issue bonds, certificates,
or other evidences of debt, under the seal of said
company, for an amount not exceeding one hun-
dred thousand dollars, in such sum or sums as said
company may think best, and to sell and dispose
of the same upon such terms as said company may

Mortgage.

deem proper, and to pledge and mortgage the pro-
perty, real or personal, acquired and held by the
said company for the construction, use and occu-
pation or running of said addition, and the profits
and revenues arising from the same, to secure the
payment thereof, and such pledging or mortgage
shall create and be a first and preference lieu on
all the said property, profits and revenues so