EDWIN WARFIELD, ESQ., GOVERNOR.

455

its benefit, but the said directors may, in their discretion, remit

such forfeiture, or recover in the name of the company such

instalments by suit or action at law, or in any other way, and

upon such terms as they may deem proper. The directors

of said company are hereby fully authorized to make such

Preferred and

stock either preferred or common, and to issue mortgage

common
stock.

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, steamships, steamboats, tugs and barges, and it shall

also have power and authority to indorse or guarantee the

bonds of any other railroad or steamship or steamboat com-

pany, the said bonds to be made payable at such time and on

such terms as the directors may determine, and the said com-

pany shall have also the power and authority, through its

said directors, to mortgage the said railroad, its extensions

and branches, and also its wharves, steamships, steamboats,

tugs and barges, with all their personal and real estate fran-

chises, rights and privileges for the security and payment

of said mortgage, bonds and other obligations of said company,

Security and

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

payment of
bonds.

authorized by a resolution adopted by a majority of the stock-

holders of the company, at a regular or special meeting there-

of duly called.

SEC. 10. And be it enacted, That the said Baltimore and

Southwestern Railroad Company shall be authorized to lay

To operate

down tracks, either broad or narrow gauge, as its directors

trains by
steam or

may deem best, and to operate and run its trains and rolling

electricity.

stock of every kind by the use of steam, electricity or any other

improved motive power 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-

President and
directors.

cessors are duly elected at a general meeting of the stockholders

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

shareholder shall have or be allowed one vote for every share

owned by him or her, and every stockholder shall vote either