1486 LAWS OF MARYLAND.

SEC. 7. That the Baltimore and Southwestern Railroad Com-
pany shall have power to lease or purchase and operate any
railroad or railway, railroads or railways, whether operated
by steam or any other motive power, either in or out of the
State, for the purpose of carrying on their business, and any
other railroad or railway company in this State shall have
the right to lease or sell its railroad or railway or other prop-
erty to the said Baltimore^ and Southwestern Railroad Com-
pany.

SEC. 9. And be it enacted, That the capital stock of said
company shall be five hundred thousand dollars, with the
privilege to increase the same to such an amount as the
directors may deem proper, and shall be divided into shares of
one hundred dollars each, which shall be collected by the direc-
tors 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 twenty 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 benefits, but the said direc-
tors 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
authorized to make such stock either preferred or common, and
to issue mortgage bonds with or without coupons attached,
in such amounts as the directors may deem advisable for
building, equipping and maintaining the said road, its ex-
tensions and branches, and its wharves, steamboats, steam-
ships, tugs and barges, and it shall also have power and au-
thority to endorse or guarantee the bonds of any other rail-
road or steamship or steamboat company, the said bonds to
be made payable at such times 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 mort-
gage the said railroad, its extensions and branches and also its
wharves, steamships, steamboats, tugs and barges, with all
their personal and real estate franchises, rights and privileges
for the security and payment of said mortgage, bonds and
other obligations of said company, but no such bonds shall be
issued until the same shall have been authorized by a reso-
lution adopted by a majority of the stockholders of the com-
pany, at a regular or special meeting thereof duly called.