FRANK BROWN, ESQUIRE, GOVERNOR.
such connections and enter into such agreements; and said

359

Baltimore Northern Railroad Company is hereby authorized to
issue its capital stock and any increase of capital stock which
it may be entitled to have in payment for contracts, for rights,
privileges, connections, railroads or terminals or the use thereof,
or for the lease, purchase, improvement, construction or equip-
ment of its own or other railroad or railroads, or in payment
for work done or material furnished therefor, on such terms as
may be agreed upon between the said company and such per-
son or persons, company or companies doing work or furnish-
ing material or procuring and furnishing equipment, rights,
privileges, connections, railroads or terminals, or the use
thereof; and it shall be lawful to provide, by agreement
approved by a general meeting of the stockholders of the said
company, that the stock so issued in full or in part payment
therefor shall have such preference or priority over the rest of
the capita] stock of the company, as the majority in interest of
stockholders at said meeting may authorize; and said company

Increase of
Capital stock.

is hereby empowered from time to time to make and issue
bonds for such length of time and bearing interest not exceed-
ing six per centum per annum to any amount or amounts, and
to dispose of the same for money or property at such price or
valuation and on such terms as its directors may determine,
and to secure the payment of the principal and interest thereof
by mortgage or mortgages, deed or deeds of trust of its prop-
erty, possessions, revenues, appurtenances, rights, privileges
and franchises or any part thereof, which it shall then own and
possess, and should its directors so determine, also of its prop-
erty, possessions, revenues, appurtenances, rights, privileges
and franchises or any part thereof, thereafter acquired; and
the Mayor and City Council of Baltimore are hereby fully
authorized and empowered to pass an ordinance or ordinances
giving their consent to the location, route, construction and
operation by said company of any of its railroads in the city
of Baltimore, prepcribing the mode, terms and conditions of
the building and construction thereof; provided, that if the
construction of said road be not begun within two years, and
completed and cars be not running over the whole line of said
road within this State within four years from the passage of
this act, then this act shall become inoperative and void.

SEC. 4. And be it further enacted, That the par value of

May issue
bonds.

the shares of the common and preferred capital stock of said
Baltimore Northern Railroad Company shall be one hundred
dollars for each share thereof.

Par value.