ART 23.] CORPORATIONS—RAILROAD. 361

were possessed or enjoyed by the corporation which owned or
held such railroad previous to such sale under or by virtue of its

charter and any amendments thereto, and of other laws of this
State, or the laws of any other State in which any part of such
railroad may have been situated, not inconsistent with the laws
of this State.

1886, ch. 134, sec. 3.

189. Such corporation shall also have power to make and
issue bonds bearing such rate of interest not exceeding six per

cent, per annum, payable at such times and places, and in such
amount or amounts as it may deem expedient, and to sell and

dispose of such bonds at such prices and in such manner as it
may deem proper, and to secure the payment of such bonds by
mortgage or deed of trust of its railroad, or any part thereof;
and its real and personal property and franchises, and all of the
property and franchises of such corporation embraced, or in-
tended to be embraced in any such mortgage or deed of trust,
whether then held or thereafter acquired, shall be subject to the
lien and operation of such mortgage or deed of trust, and in case
of sale under the same, shall pass to and become vested in the
purchaser or purchasers thereof, so as to enable him or them to
form a new corporation in the manner hereinbefore prescribed,
and to vest in such new corporation all the faculties, powers,
rights, immunities, privileges and franchises possessed by its
predecessor or conferred by this section.

Ibid. sec. 4.

190. Any railroad company incorporated under the provisions
of the three preceding sections shall have power to sell, lease,
assign or transfer its stock, property and franchises to, or to con-
solidate 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 consolidation, shall
be submitted to the stockholders of the railroad company incor-
porated under said sections at a special meeting called for con-