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892
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LAWS OF MARYLAND.
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privileges and franchises pertaining thereto, and to operate
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the same with horses, cables or any desirable system of
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electric traction ; and to transact any and all business of
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whatever nature that may be connected therewith or inci-
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dental thereto ; to subscribe for, purchase, own, hold and
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sell stocks, bonds and securities of other corporations and
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to buy, sell, own and deal in any real or personal property
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necessary for the proper promotion of its business, and the
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proper management thereof; also, the power to borrow
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money in such sums, and at such times, and on such terms
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as it may deem necessary for the proper transaction of the
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business hereby authorized, and to issue and dispose of its
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bonds or other evidences of indebtedness for any amount
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or amounts so borrowed, not exceeding its authorized cap-
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ital stock ; and to mortgage its corporate property and
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franchises to secure the payment of any indebtedness so
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contracted bv it ; it shall also have power to receive for pay-
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ment, for any subscription to its capital stock any property
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necessary or convenient for its business, at such prices as
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may be agreed upon between the owners thereof and the
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directors of this corporation ; it shall also have the power
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to guarantee the bonds of other corporations or individuals
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on such terms as its directors may agree.
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SEC. 3, And be it enacted. That any street railway com-
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Street rail-
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pany incorporated under the General Laws of the State of
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ways may
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Maryland, or by special act of the General Assembly
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lease or
sell their
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thereof, may by a vote of the majority of the shares of its
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property
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capital stock at any annual meeting, or at any special meet-
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ing of which due notice has been given according to its
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charter and by-laws, sell or lease its property and franchises
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to the company created by this act.
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Effective
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SEC. 4. And be it further enacted. That this act shall take
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effect from the date of its passage.
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Approved April 7th, 1892.
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