|
|
CHAPTEE 127.
|
|
|
|
AN ACT to amend the charter of the Potomac Valley railroad
|
|
|
|
company by enlarging its powers and authorizing it to make
|
|
|
|
certain contracts.
|
|
|
|
SECTION 1. Be it enacted by the General Assembly of Maryland,
|
|
|
|
That the Potomac Valley railroad company, a corporation duly
|
|
|
|
incorporated under the provisions of article twenty-three of the
|
|
|
|
Code of Public General Laws of Maryland, relating to railroad
|
|
|
|
companies and the incorporation thereof, be and the same is
|
|
|
|
hereby authorized and empowered to execute and deliver a lease
|
|
|
|
of its railroad and all other property to the Western Maryland
|
|
|
|
railroad company or to the Western Maryland tidewater railroad
|
|
|
May lease
|
company, upon such terms as may be agreed upon by the parties
to such lease, and to sell and convey its railroad and other prop-
|
|
|
|
erty to either of the companies above named; and that the lessee
|
|
|
|
or purchaser of the railroad and other property of said Potomac
|
|
|
|
Valley railroad company, shall acquire by such lease or purchase
|
|
|
|
all the rights to use said railroad and other property which the
|
|
|
|
said Potomac Valley railroad company is entitled to under its
|
|
|
|
charter, or under any amendment thereof; provided, however,
|
|
|
|
that no such lease or sale of the railroad and property of the said
|
|
|
|
Potomac Valley railroad company shall be made without the con-
|
|
|
|
sent of a majority of the stockholders of said company, repre-
|
|
|
|
sented in person or by proxy, at a general or special meeting of
|
|
|
|
said stockholders convened according to the charter and by-laws
|
|
|
|
of said company.
|
|
|
|
SEC. 2. Be it further enacted, That the said Potomac Valley
|
|
|
|
railroad company be and it is hereby authorized and empowered
|
|
|
|
to accept a lease and become the lessee of the whole or of any part
|
|
|
|
of any railroad owned or constructed, or that may hereafter be
|
|
|
|
owned or constructed under the laws of this State, or of any other
|
|
|
|
State; provided, that the railroad of which it may so become
|
|
|
May be
|
lessee, shall be a road connecting with, or in extension of the
|
|
|
lessee
|
railroad of the Western Maryland railroad company or of one of
|
|
|
|
its branches, or connecting with or in extension of a railroad
|
|
|
|
leased, owned or operated by said Western Maryland railroad
|
|
|
|
company; the lease hereby authorized to be accepted by said Po-
|
|
|
|
tomac Valley railroad company may include any branch of the
|
|
|
|
roads so leased, and the shops, depots, buildings, elevators,
|
|
|
|
wharves, vessels and other property of such leased roads and
|
|