656 CORPORATIONS. [ART. 23

be evidence of the due organization and existence of such cor-
poration, and of the matters specified- in such certificate.

B. C. & A. Ry. v. Ocean City, 89 Md. 95. B. C. & A. Ry. Co v. Wicomico
Co , 93 Md. 117.

1888, art. 23, sec 188. 1886, ch. 134, sec. 2.

276. Such corporation shall possess all the powers, rights,
immunities, privileges and franchises in respect to such rail-
road, or the part thereof included in such certificate, and in
respect to the real and personal property appertaining to the
same, which 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.

B. C & A. Ry. Co. v. Ocean City, 89 Md. 95. B. C. & A.. Ry. Co. v.
Wicomico Co., 93 Md. 117

Ibid. sec. 189. 1686, ch. 134, sec. 3.

277. 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 intended 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 fran-
chises possessed by its predecessor or conferred by this section.

B C & A. Ry. Co. v. Ocean City, 89 Md. 95. B. C. & A. Ry. Co. v.
Wicomico Co., 93 Md. 117.

Ibid. sec. 190. 1886, ch. 134, sec. 4.

278. Any railroad company incorporated under the pro-
visions of the three preceding sections shall have power to sell,