EDWIN WARFIELD, ESQ., GOVERNOR.

409

and sold for its benefit; but the said directors may, in their dis-

cretion, remit such forfeiture or recover in the name of the

company such instalments by suit or action at law, or in such

Recovering
stock by legal

other way and upon such terms as they may think proper.

process.

The directors of said company are hereby fully authorized to

make such stock either preferred or common, and to issue

mortgage bonds, with or without coupons attached, in such

amounts as the directors may deem advisable for building,

equipping and maintaining the said road, its extensions and

branches and its wharves, steamboats, steamships, tugs and

barges ; and it shall also have power and authority to endorse

or guarantee the bonds of any other railroad or steamship

or steamboat company, the said bonds to be made payable at

such time and on such terms as the directors may determine;

and the said company shall have also the power and authority

To guarantee
bonds of

throught its directors to mortgage the said railroad, its exten-

other carry-

sions and branches, and also its wharves, steamships, steam-

ing compa-
nies.

boats, tugs and barges, with all their personal and real estate,

franchises, rights and privileges for the security and payment

of said mortgage bonds and other obligations of said company,

but no such bonds shall be issued until the same shall have

been authorized by a resolution adopted by a majority of the

stockholders of the company at a regular or special meeting

thereof duly called.

SEC. 10. And be it enacted, That the said Pearson and Balti-

more Railroad Company shall be authorized to lay down tracks,

To lay tracks,
etc.

either broad or narrow gauge, as its directors may deem best,

and to operate and run its trains and rolling stock of every

kind by the use of steam, electricity or any other improved

motive powers the directors may adopt.

SEC. 11. And be it enacted, That the president and directors

of said company thus appointed shall serve until their suc-

cessors are duly elected at a general meeting of the stockhold-

ers of the company, which meeting shall be called at any time

President and
directors.

upon the written request of the holder or holders of a majority

of the stock of said company, and thereafter the directors shall

hold office for such time as may be fixed by said stockholders

at said general meeting for electing directors; nine directors

shall be elected to manage the affairs of the company, which

directors shall have power to elect a president from among

their number; and at said election for directors and at all other

elections by the stockholders of said company, each share-

holder shall have or be allowed one vote for every share owned

One-vote for

by him or her, and every stockholder shall vote either in per-

every-share.