JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 371

January session, eighteen hundred and seventy ,	Repealed.
chapter three hundred and four, entitled as afore-
said, be and the same is herobj7 repealed, and ro-
euacted so as to read as follows :
SEC. 3. The President and Directors of the Wicom-	Constructing addition
ico and Pocomoke Rail Road Company, or a majority
of them, are hereby authorized and empowered, for
the purpose of constructing the said addition of their
road from the town of Berlin to the Bay Shore or
Beach aforesaid, building wharves, piers, and any
other incidental work necessary for the full and
beneficial enjoyment of said franchise, to negotiate
a loan, and to issue bonds, certificates or other	Issue bonds.
evidences of debt, under the seal of said company, for
an amount not exceeding one hundred thousand
dollars, in such sums as said company may think
best, and sell and dispose of the same upon such
terms as said company may deem proper, and to
pledge and mortgage the property, real and per-
sonal, acquired and held by the said company, for	Mortgage
the construction, use and occupation or running of
said addition, and the profits and revenues arising
from the same, to secure the payment thereof; and
such pledging or mortgage shall create, and be a
first and preference lien on all the said property,
profits and revenues so pledged or mortgaged; and
said bonds so issued shall also be a prior lien upon
the profits, revenues and earnings of the main stem	Prior lien.
of said Wicomico and Pocomoke Railroad, extending
from the town of Berlin to the town of Salisbury, sub-
ject only to the claims of the first mortgage already
existing on the said railroad ; and the said Rail-
road Company shall also have the power to convert
said bonds, certificates or other evidences of debt so
issued, into the capital stock of said company, upon
such terms as may be agreed on between the holder
or holders, of said bonds, certificates or other evi-
dences of debt.
SEC. 2. And be it enacted, That this act shall take
effect from the date of its passage, subject to any	In force.
future alteration, amendment or repeal by the Gen-
eral Assembly.
Approved, April 11th, 1874.