862

LAWS OF MARYLAND.

SEC. 4. And be it enacted, That the capital stock of said

Capital stock.

corporation shall be three hundred thousand dollars, divided

into six thousand shares of the par value of fifty dollars

each, and the directors of said corporation, for the purpose of

completing and fully equipping the railway hereinbefore men-

tioned may issue from time to time, mortgage bonds to an

amount sufficient in the judgment of said directors to complete

and fully equip said railway, and secure the payment of such

bonds by mortgage of all or any part of the property, rights,

franchises and revenues of said company.

SEC. 5. And be it enacted, That all the interests and affairs

of said corporation shall be controlled and managed by the

persons particularly named in the first section of this Act,

Board of direc-.

or such of them as shall accept office as the board of directors

tors to man-

of said company for and during the first year after the pas-

age.

sage of this Act, and until their successors as such board

shall have been duly elected and qualified, pursuant to the

by-laws and regulations which shall be established by such

board, and thereafter the said interests and affairs shall be

managed and controlled by a board of nine directors, stock-

holders of said company, elected by a majority of the votes

of all the stockholders attending in person or by proxy at

the annual meeting of the stockholders, each share of stock

so represented being entitled to one vote, and such board of

directors aforesaid shall elect from their number a president

a vice-president, a secretary and a treasurer, the board of

directors, from time to time, may and shall make, enact, alter

and re-enact any and all lawful by-laws, rules and regulations

touching the organization of said company, taking subscrip-

Power to en-

tions to its capital stock, the payment of such subscriptions,

enforce

the issue and transfer of certificates of stock, and the mode

by-laws, etc.

of conducting all the affairs of said company, and shall have

full power in law and equity to enforce the same.

SEC. 6. And be it enacted, That said corporation may

May connect

connect with any other railroad or transportation company

with other

now organized or which may hereafter be organized, and said

roads.

corporation hereby created is authorized to consolidate with

such railroads or transportation companies as it may cross

or connect with, upon such terms as may be agreed upon

between them, or said corporation may lease, purchase such

connecting roads, or may be leased or purchased by them.

SEC. 7. And be it enacted, That said corporation may enter,

To use public
roads, streets

upon, grade, occupy and use any public road, street or high-

etc.

way in said counties or any city or town therein for the