214

LAWS OF MARYLAND.

To succeed to
all franchises.

personal property appertaining to the same,
which were possessed or enjoyed by the cor-
poration which owned or held such railroad
previous to such sale under or by virtue of its
charter and any amendments thereto, and of
other laws of this State, or the laws of any
other State in which any part of such railroad
may have been situated, not inconsistent with
the laws of this State.

SEC. 3. And be it enacted, That such corpora-
tion shall also have power to make and issue
bonds bearing such rate of interest not exceed-
ing six per cent, per annum, payable at such
times and places, and in such amount or
amounts as it may deem expedient, and to sell
and dispose of such bonds at such prices and

Bonds.

in such manner as it may deem proper, and
to secure the payment of such bonds by its
mortgage or deed of trust of its railroad, or any
part thereof, and its real and personal property
and franchise, and all of the property and
franchises of such corporation embraced, or
intended to be embraced in any such mortgage
or deed of trust, whether then held or there-
after acquired, shall be subject to the lien and
operation of such mortgage or deed of trust,
and in case of sale under the same, shall pass
to and become vested in the purchaser or pur-

Mortgage.

chasers thereof, so as to enable him or them to
form a new corporation in the manner herein-
before prescribed, and to vest in such new
corporation all the faculties, powers, rights,
immunities, privileges and franchises possessed
by its predecessor or conferred by this section.

SEC. 4. And be it enacted, That any railroad
company incorporated under the provisions of
this act shall have power to sell, lease, assign
or transfer its stock, property and franchise

May consoli-
date.

to, or to consolidate the same with those of
any other railroad company incorporated under
the laws of this or any other State, or of the
United States, whose railroad within or with-
out this State, shall connect with or form a
continuous line with the railroad of the com-