598 LAWS OF MARYLAND. [Ch. 427]

203B shall be construed to apply to any justice of the peace who
may be or shall hereafter be designated as a police justice in any
of the districts of Dorchester county.
Approved April 8, 1912.

CHAPTER 427.

AN ACT to add a new section to the Act of the General Assem-
bly of 1910, Chapter 180, known as the Public Service Com-
mission Law, to be known as section 52A thereof, and to
thereby enlarge the powers and duties of the Public Service
Commission.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That a new section be added to the Act of the General
Assembly of 1910, Chapter 180, known as the Public Service
Commission Law, to be known as section 52A thereof, and to
read as follows:

52A. That nothing whatsoever contained in sections 27 and
34 of the Public Service Commission Law shall be taken or
construed to deny to the said Public Service Commission power
or authority, which is hereby expressly granted: (a) To
approve the issuance of stocks, bonds, evidences of indebted-
ness or securities in connection with the organiaztion of a new
corporation by any purchaser or purchasers of the franchises or
property of any corporation subject to the provisions of the
Public Service Commission Law sold under any judicial pro-
ceeding or mortgage or deed of trust to such an amount and in
such character as may appear to said Commission necessary,
reasonable, equitable or proper to fully protect the rights, inter-
ests and equities of the holders of stocks, bonds, evidences of
indebtedness or other securities of the corporation, whose fran-
chises and property have been so sold under any judicial pro-
ceeding or mortgage or deed of trust; and (b) To permit the
capitalization of the tangible and intangible property and assets
other than the franchise to be a corporation, of any corporation
either newly chartered or organized by any purchaser or pur-
chasers of the franchises and property of any corporation sold
under judicial proceedings, or mortgage, or deed of trust, in
such amount or in such manner and form as may be made to
appear to said Commission reasonably necessary or proper to
enable such corporation to procure the necessary capital, ser-
vices or other requisites for constructing, equipping, develop-