EMERSON C. HARRINGTON, GOVERNOR. 895

diiately after Section 284A, and to be designated as Section
284B, authorizing railroad companies whose railroads con-
nect, either directly or by means of intervening lines of
railroad, to purchase or sell the railroad and all the prop-
erty, rights, privileges, franchises and credits of one from
or to the other.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That a new Section be added to Article 23 of the Code
of Public General Laws of Maryland of 1912, title "Corpora-
tions," sub-title "Railroad Companies," to come in immedi-
ately after Section 284A and to be designated as Section 284B,
and to read as follows:

284B. It shall be lawful for any railroad company, incor-
porated under the laws of this State, or of this and any other
State or States, whether incorporated under the provisions cf
this Article or by special Act or otherwise, to purchase the
railroad, property, rights, privileges, franchisee and credits of
any other railroad company incorporated under the laws of
this, or of this and any other State or States, or of any other
State or States, provided the railroads of the two companies
connect, either within or without this State,'directly or by
means of intervening lines and form a continuous route or
routes for the transportation of persons and property; and any
railroad company incorporated as aforesaid of this State or
of this and any other State or States, is hereby empowered to
sell its railroad, property, rights, privileges, franchises and
credits to any other railroad company which is authorized by
the terms hereof to acquire the same, or to any railroad com-
pany of another State or States which is lawfully empowered
to acquire the same. The purchase hereby authorized shall be
made and consummated in the manner hereinafter provided,
and when the same has been consummated, the purchasing com-
pany shall be possessed of and shall own, hold, operate, exer-
cise and enjoy the railroad, property, rights, privileges, fran-
chises and credits of the selling company; but nothing herein
contained shall be construed as exempting the purchasing com-
pany from the operation of the laws of this State in respect
to its railroad and property within the State. Such purchase
and sale shall be effected in the manner following:

First—The two companies shall, pursuant to resolutions
duly adopted by their respective boards of directors, make and
execute an agreement under their respective corporate seals,
duly attested, which shall contain and set forth the terms and