ELTHU E. JACKSON, ESQUIRE, GOVERNOR.

779

CHAPTER 607.

AN ACT to repeal section one, of the act of the General Assembly

of Maryland, passed January session, eighteen hundred and

seventy-six, chapter four hundred and three, entitled "An act to

consolidate the Kent county railroad company with the Smyrna

and Delaware bay railroad company, and to convey the fran-

chises of said first named company when sold to the purchasers

thereof, and to incorporate them into a body politic," and to re-

enact said section with amendments, so as to extend the time

for such sale, consolidation and incorporation.

SECTION 1. Be it enacted by the General Assembly of Maryland,

That section one, of the act of eighteen hundred and seventy-six,

chapter four hundred and three, entitled "An act to consolidate

the Kent county railroad company with the Smyrna and Dela-

Repeal

ware bay railroad company, and to convey the franchises of said

first named company when sold to the purchasers thereof, and to

incorporate them into a body politic," be and the same is hereby

repealed and re-enacted, so as to read as follows :

SECTION 1. The purchaser or purchasers of the Kent county

railroad company, and his or their associates, when the same shall

have been sold, shall, upon the confirmation of such sale, or the

execution of the deed or deeds purporting to convey the property
so sold, become a new body politic and corporate, in fact and in

law, by the name of the aforesaid corporation, or such other name

as they may thereafter adopt, and shall be deemed and considered

the stockholders of the capital stock of such new body politic

and corporation, and shall become entitled to and vested with all

the corporate rights, liberties, privileges, immunities, powers and

Corpora-

franchises of and concerning the said railroad so sold, as fully as

tion,

the same were held, exercised and enjoyed by said corporation be-

fore such sale, and it shall and may be lawful for the said new

body politic and corporate, at any time until January first, eigh-

teen hundred and ninety-three, after such sale and conveyance to

organize themselves as a corporation, under such name as they

may vote to adopt, by electing a board of directors of not less than

five, nor more than thirteen, and by the appointment of a presi-

dent and such other officers as may be authorized or required by

law, and to consolidate said railroad company with the Smyrna

and Delaware bay railroad company aforesaid; and such board

of directors are authorized to fix the capital stock of such new

corporation at an amount not exceeding the estimated cost of

said railroad and equipments when completed, together with such

lands as said corporation may acquire, and to issue certificates of

the capital stock of such new corporation, and to distribute the

same, also whenever deemed expedient to issue bonds, and to secure