708

LAWS OF MARYLAND.

and seventy-eight, the said article known also
as the article providing for the formation, pow-
ers and regulations of corporations so far as the
same may not be inconsistent or in conflict with
the special or general regulations or provisions,
powers, rights and advantages conferred or in-
tended to be conferred by this act.
SEC. 8. And be it enacted, That the said com-
pany shall also have the following powers, to

Power to buy,
sell, etc.

wit : To buy, sell, build and lease cable or other
street railways, and deal generally in such rail-
ways and rolling stock, together with the rights,
privileges and franchises pertaining thereto, and
to operate the same with horses, cables, or any
desirable system of electric traction, employing
the storage battery; and to transact any and all
business of whatever nature that may be con-
nected therewith or incidental thereto ; to sub-
scribe for, purchase, own, hold and sell stocks,
bonds and securities of other corporations, and
to buy, sell, own and deal in any real or personal
property necessary for the proper promotion of
its business, and the proper management
thereof ; also, the power to borrow money in such
sums, and at such times, and on such terms as
it may deem necessary for the proper transac-
tion of the business hereby authorized, and to

Issue bonds.

issue and to dispose of its bonds or other evidences
of indebtedness for any amount or amounts so
borrowed, not exceeding its authorized capital
stock ; and to mortgage its corporate property
and franchises to secure the payment of any
indebtedness so contracted by it ; it shall also
have power to receive for payment, for any sub-
scription to its capital stock, any property nec-
essary or convenient for its business, at such
prices as may be agreed upon between the own-
ers thereof, and the directors of this corpora-
tion ; it shall also have the power to guarantee
the bonds of other corporations or individuals
on such terms as its directors may agree.

Other compan-
ies may sell,
etc.

SEC. 9. And be it enacted, That any street
railway company incorporated under the gen-
eral laws of the State of Maryland, or by special
act of the general assembly thereof, may by a
vote of the majority of the shares of its capital
stock at any annual meeting, or at any special