ART. 23] RAILROAD COMPANIES. 641

1888, art. 23, sec. 160. 1876, ch. 242, sec. 4.

244. When the foregoing provisions have been complied
with, the persons named as corporators in said certificate are
hereby authorized to carry into effect the objects named in
said certificate, in accordance with the provisions of this article ;
and they and their associates, successors and assigns, by the
name and style provided in said certificate, shall thereafter be
deemed a body corporate, with succession, with power to sue
and be sued, plead and be impleaded, defend and be defended,
contract and be contracted with, acquire and convey at pleasure,
all such real and personal estate as may be necessary and con-
venient to carry into effect the objects of the incorporation; to
make and use a common seal, and the same to alter at pleasure,
and do all needful acts to carry into effect the objects for which
it was created; and such company shall possess all the powers
and be Subject to all the rules and restrictions provided by this
article.

Ibid. sec. 161. 1876, ch. 242, sec. 5.

245. Said corporations shall be authorized to construct
and maintain a railroad with a single or double track, with
such side-tracks, turn-outs, offices and depots, as they may
deem necessary, between the points named in the certificate,
commencing at or within and extending to or into any town,
city or village named as the place of termini of such road, and
construct branches from the main line to other towns or places
within the limits of any county through which said road may
pass.

Ibid, sec 162. 1876, oh. 242, sec. 6.

246. The capital stock of such company shall be divided
into shares of fifty dollars each, and consist of such sum as
may be named in the certificates; such shares shall be regarded
as personal property, shall be subject to execution at law, and
to taxation as other personal property.

Ibid. sec. 163. 1876, ch. 242, sec. 7.

247. Au instalment of five dollars, in actual cash, on each
shore of stock, shall be payable at the time of making the sub-
scription, and the residue thereof shall be paid in such instal-
ments, and at such times and places, and to such persons, as
may be required by the directors of such company.

Webb v. Eastern Shore R. R. Co., 77 Md. 93.

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