104

LAWS OF MARYLAND.

CHAP. 82.

Road to be
leased.

SEC. 2. And le it further enacted, That when the northern
terminus of its railroad shall have been changed, as authorized
by the preceding section of this Act, said Baltimore and
Delaware Bay Railroad Company shall be and hereby is
expressly authorized and empowered, with the consent of the
holders of at least three-fourths of its capital stock, given as
hereinafter provided, to lease its said railroad and property,
and franchises connected therewith, to the Delaware Railroad
Company, for such terms as may be agreed on, and also with-
out or after making such lease, to sell and convey its said rail-
road, property and assets of every description, and all
franchises exercisible in connection therewith, unto the
Delaware Railroad Company absolutely, so that the latter
shall be possessed of all right and title which the vendor cor-
poration had therein, and the same shall thereupon become
and be part and parcel of the property of the Delaware Rail-
road Company, and be merged and consolidated therewith,
and said last-named company shall, in addition to the fran-
chises so acquired, have, exercise and enjoy in connection
therewith all the rights, powers, privileges and franchises
which it may exercise respecting its other railroad and prop-
erty in this State.

SEC. 3. And be it further enacted, That the consent of stock-
holders of said Baltimore and Delaware Bay Railroad Company
to the change of terminus, and abandonment of a portion of

Consent
given at
annual or
special
meeting to
lease or sell
railroad.

its railroad, as provided for in section 1 of this Act, and the
like consent to lease or sell the residue of its railroad and
property, as provided for in section 2 of this Act, may be
given and ascertained at any annual or special meeting of the
stockholders of said company called and held pursuant to
notice, distinctly stating, inter alia, the subject to be submitted
for their action and consent, publication of which notice shall
be made at least once a week for three (3) successive weeks
prior to said meeting in one or more newspapers published in
Kent county aforesaid. If lease of the property be proposed,
a draft of the lease, as agreed to and approved by the direc-
tors of each company, shall be submitted to the stockholders,
and if a sale be proposed, all the terms and conditions thereof,
as agreed to and approved by the directors of each company,
shall be submitted to the stockholders. The sale and con-
veyance contemplated by section 2 of this Act shall, when
approved by the stockholders, be consummated and effected
by a deed, under the corporate seal of the said vendor com-
pany, signed by its president, attested by its secretary, and
duly acknowledged according to the laws of Maryland, which
deed shall be delivered for record in the office of the clerk of