272

LAWS OF MARYLAND.

CHAP. 173.

and demandable, the stock on which is demanded shall, at the
pleasure of said board of directors, be forfeited to the com-
pany and sold for its benefit, but the board of directors may
remit such forfeiture or may recover in the name of the com-
pany such instalment by suit or action at law, or in such other
way and upon such terms as they may deem proper.

Charter
perpetual.

SEC. 9. And be it enacted, That the charter of said company
shall be perpetual.

Taxation.

SEC. 10. And be it enacted, That after the completion of
said railroad, the real and personal property of said company,
and its stocks, rights, privileges, revenues, tolls and income be
and the same shall be subject to State taxation only for the
term of ten years, after which time it shall be subject to
taxation for State, county and municipal purposes.
SEC. 11. And be it enacted, That said railroad company

Consent
or approval
must
be given.

shall not extend its line or construct its road upon any public
road or highway in Washington county without the consent
or approval of the Board of County Commissioners for Wash-
ington county being first had and obtained ; nor shall it extend
or construct its road upon the bed of any street or highway
within the corporate limits of Hagerstown, without the con-
sent and approval of the Mayor and Council of Hagerstown,
Maryland ; nor shall it extend or construct its road upon the
bed or highway of any street or highway within the corporate
limits of the borough of Smith burg, Washington county,
State of Maryland, without the consent and approval of the
Burgess and Commissioners of said borough of Smithburg
being first had and obtained.

Time of com
mencement
and
completion

SEC. 12. And be it' enacted, That the construction of the
main line of said Hagerstown, Smithburg and Penmar Rail-
road Company shall be commenced within two years, and
completed within four years from and after the passage of
this Act.
SEC. 13. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 8, 1902.