392

LAWS OF MARYLAND

for the present outstanding first mortgage bonds

of the Eastern Shore Railroad Company, which are

now secured by mortgage deed of the Eastern Shore

Railroad Company, bearing date the twenty-seventh

day of January, eighteen hundred and sixty, amount-

ing to four hundred thousand dollars, to enable the

said company, as reorganized, to redeem and dis-

charge such outstanding first mortgage bonds, and

the balance, one hundred thousand dollars, of new

Applied to re-
pairs.

bonds shall be applied to the repairs and improve-

ments of the said Eastern Shore Railroad and its

rolling stock, and the purchase of new rolling stock

for said company, and such other purposes as the

stockholders or a majority vote of all the stock

may direct.

SEC. 2. And be it enacted, That the said Eastern

Shore Railroad Company, as reorganized, shall

have power, if in their discretion they find it ad-

Contract for

visable, to contract for a lease of the said Eastern

lease.

Shore Railroad for a term of years, or to contract

for the consolidation with, or sale of said road to,

any other road now built or hereafter to be built,

provided such contract for consolidation or sale be

authorized or approved by a majority vote of all the

stock of said company, at a regular stockholders'

meeting or a special meeting for that purpose.

SEC. 3. And be it enacted, That this act amend-

ing the charter of the said Eastern Shore Railroad

Company shall go into effect from and after the date

of its passage, upon the acceptance by a majority

How effective.

vote of all the stock of said company in a regular

stockholders' meeting or a special meeting called

for that purpose.

Approved May 3, 1882.