JOHN WALTER SMITH, ESQ., -GOVERNOR.

311

amount not exceeding $50, 000 as the board of directors may
determine and secure same by mortgage upon the property
and rights of said corporation.

C HAP. 624.

SEC. 5. And be it further enacted, That said corporation
herein incorporated is hereby authorized to consolidate with
euch road or roads as it may cross or connect with, upon such
terms as may be agreed upon between them, or said road may
purchase, lease or sell to such connecting roads, or may be
leased by them.

May
consolidate
with other
roads, etc.

SEC. 6. And be it enacted, That the capital stock of said
company shall consist of ten thousand dollars in shares of the
par of fifty dollars each, with the privilege to increase the
stock from time to time by a vote of the stockholders at a
special meeting to be called for that purpose to tive hundred
thousand dollars; and in the event that the amount of the
capital stock subscribed proves insufficient to construct, com-
plete and fully equip the electric light and railway herein
mentioned, then the directors of said company. may issue from
time to time, in the name of the said company, mortgage bonds
to an amount sufficient in the judgment of said directors to
complete and fully equip the requirements of said corporation
and secure the payment of such by mortgage of all or any
part of the property, rights, franchises, tolls and revenues of
said company.

Capital stock,
with
privilege to
increase
same.

SEC. 7. And be it enacted, That said company, subject,
however, to the constitutional right of amendment and repeal,
shall have perpetual continuance.
SEC. 8. That this Act shall take effect from the date of its
passage.
Approved April 11,1902.

Perpetual
continuance.