PRIVATE ACTS. 1411

ditions for the purpose of providing for extension of its rail-
road connections and facilities by aiding the construction of
connecting or continuous line or lines of railroad.
Whereas, The Western Maryland Railway Company has been
duly incorporated under the provisions of Sections 275, 276
and 277 of Article 23 of the Code of Public General Laws of
Maryland, and is entitled, among other things, to have and
exercise all the rights and franchises in respect to its railroad
formerly belonging to the Western Maryland Railroad Com
pany, with the power to carry out any of the authorized pur-
poses of said last-mentioned company, including the purpose to
provide certain extensions of its railroad connections and facili-
ties in this State and in adjoining States; and

Whereas, The said Western Maryland Railway Company has
been duly authorized by law to issue its capital stock in the
amount filed in its charter, and desires to issue and sell, from
time to time, upon the terms and conditions set forth in this
Act, such amounts of its authorized and unissued capital stock
as it may deem advisable to dispose of for the purpose of pro-
viding for extension of its railroad connections and facilities;
now, therefore,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Western Maryland Railway Company be and it
is hereby authorized and empowered to aid the construction of
any railroad or railroads lying within or without this State, if
the same, when constructed, shall, either directly or indirectly,
or through an intervening line or lines of railroad owned or
controlled by the Western Maryland Railway Company, con-
nect with or from a continuous line with the railroad of the
said The Western Maryland Railway Company, by subscription
to or purchase of all or any part of the capital stock or bonds,
or both, of the company or companies authorized to construct
such connecting or continuous line or lines of railroad; and for
that purpose said The Western Maryland Railway Company
shall have the power to issue and sell, from time to time, any
part of its authorized and unissued capital stock at its fair
market value as determined by its board of directors at the
time of authorizing such subscription or purchase, and any
stock so issued and sold at the fair market value so determined
shall, for all purposes of law, be deemed full paid and non-
assessable; provided, that such subscription or purchase and
the issue and sale of such stock be approved by the affirmative
vote of a majority of the capital stock of the said The Western
Maryland Railway Company, outstanding and entitled to vote,
at any meeting, duly warned as provided by law, or by the by-
laws of said railway company; and provided further, that the
stockholders of The Western Maryland Railway Company be