HENRY LLOYD, ESQUIRE, GOVERNOR.

75

said deed of trust, bought in said property and
franchises on behalf of the holders of the
bonds by said deed secured and then out-
standing, in the proportion of the respective
interest of such bondholders; and

Preamble.

WHEREAS the said sale and purchase so made
were duly reported to the Circuit Court for
Anne Arundel county, and were by it finally
ratified and confirmed; and

WHEREAS it is proper that the said pur-

Preamble.

chasers should be incorporated, but no gen-
eral law exists in this State for the purposes
sought to be accomplished by this act; there-
fore —

SECTION 1. Be it enacted by the General As-
sembly of Maryland, That the persons by and
on whose behalf the said purchase of the prop-
erty and franchises of the Annapolis and Elk-
ridge Railroad Company was made, their as-
sociates, and successors and assigns, shall be-
come and they are hereby declared to be a body
politic and corporate, in fact and in law, by the
name of the Annapolis, Washington and Balti-
more Railroad Company, or by such other name
as they may adopt, and shall be deemed and
considered as the stockholders of the capital
stock of such new body politic and corporate, in

Preamble.

proportion to their respective interest acquired
by said purchase, and shall become and be
entitled to and vested with the right and title
to the property and franchises so purchased as
aforesaid, and shall be entitled to and vested
with all the corporate rights, powers and fran-
chises which may have been granted to or con-
ferred on said Annapolis and Elkridge Railroad
Company, by any act or acts of Assembly in
force at the time of said sale, and subject to all
the restrictions imposed upon said Annapolis
and Elkridge Railroad Company by any such
act or acts, except so far as the same are modi-
fied hereby; the said new corporation in no
case, however, to be bound by or for any debts,
contracts, covenants or engagements of the said
Annapolis and Elkridge Railroad Company.

New Corpor-
ation.