|
ELIHU E JACKSON, ESQUIRE, GOVERNOR.
Chapter 384.
AN ACT to enable the George's Creek and
Cumberland railroad company and the Penn-
sylvania railroad company, in Maryland, to
consolidate.
SECTION 1. Be it enacted by the General As-
|
633
|
|
|
sembly of Maryland, That the George's Creek
and Cumberland railroad company and the
Pennsylvania railroad company, in Maryland,
corporations duly organized under the provis-
ions of the act of the General Assembly of Mary-
land, passed at the January session, eighteen
hundred and seventy-six, chapter two hundred
and forty-two, entitled "An act to provide for
the creation and regulation of incorporated
companies in the State of Maryland," be and
they are hereby authorized upon such terms as
may be agreed upon by the president and direc-
tors of each of said corporations, with the
approval of the majority of the stockholders
thereof, to consolidate the capital stocks and all
the rights, privileges, immunities, franchises
and property belonging to or in any wise
attached to said corporations, or either of them,
in such manner that all of said stocks, rights,
privileges, immunities, franchises and property
shall vest in and belong to the said George's
Creek and Cumberland railroad company, and
to be held in its name and under its charter ;
and the said George's Creek and Cumberland
railroad company is hereby authorized to in-
crease its capital stock to whatever extent it
may be determined upon by said agreement as
necessary to effect said consolidation.
SEC. 2. And be it further enacted, That upon
|
Authority to
consolidate.
|
|
|
the filing of said agreement of said two corpo-
rations, under the respective corporate seals, in
the office of the secretary of state at Annapolis,
when the same shall be recorded, the said con-
solidation shall take effect and be in force there-
after, and all and singular the rights, franchises,
immunities and property of every kind, real,
personal and mixed, things in action and rights
of action of the said Pennsylvania railroad
company in Maryland shall vest in and be
|
Agreement to
be recorded.
|
|