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Session Laws, 1908 Session
Volume 483, Page 1328   View pdf image (33K)
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1328 LAWS OF MARYLAND.

way from any individual or corporation that may be necessary,
and where the consent of the owner of said land, right of way
or property can not be obtained, a jury of condemnation shall
be summoned in conformity with the provisions of article 23 of
the Code of Public General Laws of Maryland, title "Corpora-
tions," sub-title "Railroad Companies," and the proceedings
shall be as provided by said article 23, and that the said Short
Line Terminal Company be and it is hereby expressly author-
ized and empowered to exercise, enjoy and use all the powers
and privileges which are provided and set forth in said article
23 of the Code of Public General Laws, title "Corporations,"
sub-title "Railroad Companies;" and also shall have power to
lease or purchase and operate any railroad or railroads for the
purpose of carrying on their business, and any other railroad
company in this State shall have the right to lease or sell its
railroad or other property to the said Short Line Terminal
Company.

SEC. 6. And be it further enacted, That the capital stock of
said company shall be ten thousand dollars ($10,000), with
the privilege to increase the same to one million five hundred
(thousand dollars ($1,500,000), and shall be divided into shares
of fifty dollars each, which shall be collected by the directors
of said railroad company in such instalments and at such
times and places as they may appoint and require, and if
any subscriber to said corporate stock shall neglect or fail to
pay any instalment or part or parts of their subscriptions
thus demanded for the space of 20 days next after the time
the same shall be due and payable, the stock on which it
is demanded shall, at the pleasure of said directors, be forfeited
to the company and sold for its benefit; but the said directors
may, in their discretion, remit such forfeiture or recover in the
name of the company such instalments by suit or action at law,
or in any other way and upon such terms as they may deem
proper. The directors of said company are hereby fully au-
thorized to make such stock either preferred or common, and to
issue mortgage bonds, with or without coupons attached, in
such amounts and at such time or times as the directors may
deem advisable for building, equipping and maintaining the
said road, its extensions and branches, and for its other corpo-
rate purposes, the said bonds to be made payable at such time
and on such terms as the directors may determine; and the
said company shall have also the power and authority through
its said directors to mortgage the said railroad, its extensions
and branches, with all their personal and real estate, fran-
chises, rights and privileges then owned or thereafter to be ac-

 

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Session Laws, 1908 Session
Volume 483, Page 1328   View pdf image (33K)
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