826

LAWS OF MARYLAND.

be assessed as all other railroads; likewise all gross receipts

from all its property, and that this company shall have power

to make joint rates with any other railroad company now or

hereafter to be in operation ; that the said president and

Declaring

board of directors shall annually or semi-annually declare and

dividends.

make such dividends as they may deem proper from the net

profits arising from the resources of the said company, after

deducting the necessary current, and probably contingent ex-

penses in developments and betterments are deducted, and that

they shall divide the margins so remaining amongst the holders

of the stock of said company in proper proportion to their re-

spective shares.

SEC. 13. And be it enacted, That the said president and di-

Vested with

rectors of said company shall be and they are hereby vested

full powers.

with all the rights and powers necessary to the construction

and repair of said railroad, and they, or a majority of them,

may cause to be made, or contract with others for making

said railroad, or any part of it, and they, their agents or those

with whom they may contract for making part of the same,

their agents may enter upon and use or excavate any land

which may be wanted for the site of said railroad or for the

purpose of the motive power thereof, or for the erection of

warehouses, or other works necessary to said railroad, or for

necessary buildings, or for any other purposes necessary or

useful in the construction of any part of said railroad or its

works, and they may build bridges and dams, may fix scales

and weights and lay rails, may take and use any earth, timber,

gravel, stone or other materials which may be wanted for the

construction or repair of any part of said railroad or its

branches ; may condemn land for dams, and for water-power

To generate

storage to generate electricity for motive power or for sale or

electricity.

use of any of its works, and may make and construct all works

whatsoever which may be necessary or expedient in order to the

proper completion of said railroad : that the said company may

make in its own name or cause to be manufactured in the

name of some other corporation or individual any of its raw

materials for building or for its own use, for all kinds of

use and purposes whatsoever, to sell and buy the same, so as

to make general freight of any description, including any

materials, calcium carbonates, clays, earth, stone products, or

any mineral products, along said line or lines whatsoever,

crude and manufactured as desired or required by said com-

pany; the said directors, if deemed advisable and satisfactory

To purchase
property.

to the majority (in value) of stockholders, may purchase with

the funds of said company any private or other property that can