EDWIN WARFIELD, ESQ., GOVERNOR.

319

terms, conditions and provisions as to them shall seem meet

and proper, and be issued and disposed of from time to time

upon such terms as they shall determine, and as may be

agreed upon ; and in case of sale of said bridge, structures,

franchises and property made by virtue of said mortgage

or mortgages, whether under foreclosure or other judicial

proceedings, or pursuant to any power contained in said mort-

gage or mortgages, the purchaser or purchasers thereof, or

their survivor or survivors, representatives or assigns, may

together with their associates, if any, form a new corporation

for the purpose of owning, possessing, maintaining and oper-

ating said bridge, structures, property and franchises, and

thereupon vest in such new corporation all the faculties,

powers, rights, immunities, privileges, property and fran-

In case of fail-

chises possessed by said Conowingo Bridge Company, and

ure, new com-
pany to be

a certificate of the formation of such new corporation shall

formed.

be executed by the said purchaser or purchasers, his or their

survivor or survivors, representatives or assigns, together with

their associates, if any, and be acknowledged and recorded

as other certificates of incorporation are at present directed

to be acknowledged and recorded under Article 23 of the

Code of Public General Laws of Maryland, title "Corpora-

tions," sub-title "General Regulations."

SEC. 4. And be it enacted, That it shall be lawful for said

company from time to time to make an increase of its capital

Lawful to in-
crease its cap-

stock, to such amount or amounts as may be deemed suffi-

ital stock.

cient and proper, for the purposes of the corporation ; such

new stock may be issued in shares of the par value of one

hundred dollars per share; the question of said increase, and

the amount thereof, to be determined at a meeting or meet-

ings of the stockholders, and by the vote of persons owning

and holding at least two-thirds of all the shares of stock

of the corporation at that time, issued and outstanding, and

when the authority to increase the capital stock has been given

by the stockholders, all of the old shares of stock of said

Conowingo Bridge Company of the par value of twenty dollars

each, shall thereupon be changed and re-issued into new

shares of the par value of one hundred dollars per share, or

into fractional parts of such shares when the same may be

deemed necessary and expedient, for such minority stock-

Minority stock-
holders.

holders as may own and hold less than five shares of said

old stock.

SEC. 5. And be it enacted, That when the said bridge, with

its structures, approaches and property shall have been re-