THOMAS SWANN, ESQUIRE, GOVERNOR.

97

Sec. 14. And be it enacted, That if the entire
stock of the said Company, provided for in the
second section of this Act, shall not he subscribed
before the first election of President and Directors as
hereinbefore provided for, the President and Di-
rectors may from time to time open books for ad-
ditional subscriptions to the stock of the said Com-
pany, until such subscriptions shall be made to
the amount of the said capital stock, and if at
any time the capital stock of the said Company
shall be found to be insufficient for the purposes of
this Act, then the President and Directors of the
Company may from time to time increase the stock
of said Company by the addition of as many shares
of stock as they may deem necessary, and may re-
ceive subscriptions to the same, or sell the same at
a price not below their par value, after giving at
least thirty days notice in the newspapers afore-
said, and such other notice as they may deem
proper, or the opening of the books for subscrip-

Additional
subscriptions.

tions, or of the offering for sale of such shares;
provided, that the President and Directors shall
not increase the said capital stock beyond the sum
or amount of one million of dollars.

Proviso.

Sec. 15. And be it enacted, That the President
and Directors of the said Company shall have
power from time to time to borrow money for the
purposes of this Act, and to issue bonds, certifi-
cates, or other evidences of such loans, and to
pledge the property of the Company for the pay-
ment of the same and the interest thereof, subject
however, to the priority of the State, hereinafter
provided for.

Power to bor-
row money.

Sec. 16. And be it enacted, That the said Com-
pany be and they are hereby authorized and em-
powered to locate and construct a Railroad from
the town of Cambridge, in Dorchester county, to
the line dividing the States of Maryland and Del-
aware, at such point as shall he deemed by the
President and Directors to be the most eligible, and
thence to connect with the Delaware Railroad by
such route and at such point as may be authorized
and allowed by charter to be obtained from the

Authorized
to locate
road.

Legislature of the State of Delaware; and also to
locate and construct an extension and lateral
branches of the said Railroad to any pointer points
in Dorchester county, which may be deemed need-

7

Lateral bran-

ches.