ART. 23] RAILROAD COMPANIES. 671

1904, art. 23, sec. 278. 1888, art. 23, sec. 190. 1886, ch. 134, sec. 4.

298. Any railroad company incorporated under the provisions of
-sections 294, 290 or 297 shall have power to sell, lease, assign or
transfer its stock, property and franchises to, or to consolidate the same
with those of any other railroad company incorporated under the laws
of this or any other State, or of the United States, whose railroad
within or without this State shall connect with or form a continuous
line with the railroad of the company incorporated under said sections,
upon such terms as may be agreed upon; provided, however, that the
agreement for any such sale, lease, assignment, transfer or consolida-
tion, shall be submitted to the stockholders of the railroad company
incorporated under said sections at a special meeting called for consider-
ing the same, and shall be sanctioned by the holders of two-thirds of
The stock represented at such meeting in person or by proxy, and if
sanctioned at such meeting, shall be filed in the office of the secretary
of state of this State; and provided, further, that such agreement shall
contain no provisions in conflict with the provisions of this article, or
which shall exempt such railroad, so far as it lies within this State, from
the operation of the laws of this State.

See sections 29, 283, 438 and 439, and notes to sec. 294.

Ibid. sec. 279. 1888, art. 23, sec. 191. 1886, ch. 134, sec. 5.

299. Any railroad company incorporated under the provisions of
sections 294, 296 and 297, shall also have power to purchase or contract
for the use and enjoyment, in whole or in part, of any other railroad or
railroads lying within or without this State, if the same shall connect
with or form a continuous line with the railroad of the company incor-
porated under said sections.
See sec. 438.

Ibid. sec. 280. 1888, art. 23, sec. 192. 1886, ch. 134, sec. 6.

300. Any corporation organized under the provisions of said sec-
tions, which shall have purchased an incompleted railroad, shall have
ten years from the date of its organization to complete and finish the
main line of its railroad.

Ibid. sec. 281. 1888, art. 23, sec. 193. 1886, ch. 134, sec. 7.

301. No corporation shall be established under the provisions of
said sections 294, 296 and 297, unless it shall allow and issue to this
State the same proportion of its common stock, if any, as the State shall
own of the capital stock of the corporation whose railroad shall have been
purchased as aforesaid.

Ibid. sec. 282. 1900, ch. 217, sec. 193 A.

302. It shall be lawful for any railroad company heretofore or
hereafter incorporated under the laws of this State to acquire, own
and hold, pledge, sell or otherwise dispose of, and to endorse, guarantee
or assume the stocks, bonds and other securities of other railroad com-