HENRY LLOYD, ESQUIRE, GOVERNOR

ings, or pursuant to any power contained in
said mortgage or deed of trust, the purchaser
or purchasers thereof, or his or their survivor
or survivors, representatives or assigns, may,

213

together with their associates, if any, form a
corporation for the purpose of owning, pos-
sessing, maintaining and operating such rail-
road, or such portions thereof as may be situ-
ated within this State, by filing in the office
of the Secretary of this State a certificate of
the name and style of such corporation, the
number of Directors of the same, the name of
its first Directors, the period of their service
not exceeding one year, the amount of the
capital stock of such corporation, and the num-
ber of shares into which it is to be divided,
and the par value thereof, which may consist
wholly of common stock, or partly of common
stock and partly of preferred stock, and the
whole or any part thereof may be issued as
fully paid up stock in payment or part pay-
ment for the road as purchased, and for the
construction and equipment thereof, shall not
in the aggregate exceed the amount of stock
which the corporation, whose road shall have
been purchased as aforesaid, was entitled to
issue, and the persons signing such certificate,
and their successors, shall be a body corporate
and politic by the name specified in such cer-
tificate, with power to sue and be sued, contract
and be contracted with, and to own, maintain,
possess and operate the railroad referred to in
such certificate, and to transact all business
connected with the same; and a copy of such
certificate, attested by the Secretary of State

To incorpo-
rate purchas-
ers of rail-

roads.

or his deputy, shall, in all Courts and places,
be evidence of the due organization and exis-
tence of such corporation, and of the matters
specified in such certificates.

SEC. 2. And be it enacted, That such corpora-
tion shall possess all the powers, rights, immu-
nities, privileges and franchises in respect to
such railroad, or the part thereof included in
such certificate, and in respect to the real and

Evidence.