1084

LAWS OF MARYLAND.

given to the subscriber in person or by public notice in some

newspaper published in Queen Anne's County, and if any sub-

scriber shall fail or neglect to pay any instalment or any part

of his said subscription for the space of seventy days after the

same shall be due and payable, then the stock on which such

demand and default shall have been made shall hereby be for-

feited to the company for its own benefit ; but the president and

directors may remit any such forfeiture on such terms as they

shall deem proper.

SEC. 6. And be it enacted, That for a term of twenty years

Corporation's

after the completion of five miles of railway or the opening

stock and
property sub-

thereof for traffic or travel, or the installation of an electric

ject to State

light or power station, the real and personal property of said

taxation only

corporation and its stock, revenue., tolls and income shall be

subject to State taxation only, and after said term of twenty

years the same shall be subject to taxation for State, county

and town purposes.

SEC. 7. And be it enacted, That it shall be lawful for said

May own and
hold stock of

company to own and hold the stock of any corporation now

other corpora

incorporated, or which may hereafter be incorporated, for any

tions.

one or more of the purposes set forth in this Act, or which

may be authorized to exercise any one or more of the powers

conferred on the corporation hereby incorporated, and it may

acquire or possess by lease, purchase, merger, consolidation

or otherwise the property and franchise of any such corpora-

tion in such manner and form and to such extent as' may at

present or hereafter be authorized by the laws of the State

to which such foreign corporation may belong, and it may

enter into any agreement with any such corporation deemed

for the common benefit of both and the promotion of the objects

and purposes of the incorporation.

SEC. 8. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved April 12, 1904.

CHAPTER 620.

AN ACT to add an additional section to Article 23 of the Code

of Public General Laws, title "Corporations," sub-title "Rail-

road Companies," to follow Section 204, and to be known

as Section 204A, and to provide that railroad companies may

establish at their own cost crossing over public highways,

either overgrade or undergrade.