PRIVATE ACTS. 1433

and fully equip said railroad and power company or to pay
for any railroad equipment, power and plant acquired, and
secure the payment of such bonds by mortgage or mortgages
of all or any part of the property, rights, franchises, tolls and
revenues of said company.

SEC. 4. And be it enacted, That the affairs of said company
shall be managed by a board of ten directors, one of whom shall
be elected president, and said incorporators shall have power
at any time after the passage of this Act to organize by the
election of a president and such directors for the proper man-
agement of the affairs of said company; that the president
and directors then appointed and elected may serve for one
year after the date of their organization, or until the election
and qualification of their successors, and directors shall there-
after be elected by the majority vote of the stockholders
annually, and to serve for the term of one year; and each
stockholder shall have or be allowed one vote for every share
owned by him or her and may vote either in person or by proxy;
such by-laws as may be found necessary may be made and
adopted by the board of directors; provided, however, that the
same are not contrary to law, nor to the objects of this cor-
poration, including in such by-laws and regulations for the
affairs of the company, appointments, pay and duties of the
president and necessary subordinate officers and the time,
place and notice for the holding of the annual meeting of
stockholders for the election of directors, and also for the
declaring of such dividends out of the profits of the said com-
pany as the board of directors may deem proper.

SEC. 5. And be it enacted, .That the said company shall have
the power to construct or acquire, equip and operate a rail-
road, the motive power whereof shall be electricity or a mixed
power wherein electricity and other power than steam may be
used as the motive power for the passenger, mail, express or
freight services thereof, as the directors may determine, from
some point in the town of Elkton, in Cecil County, through the
towns of Cherry Hill and Fair Hill, in said county, to the
Pennsylvania line at or near Lewisville, in Chester County, in
the State of Pennsylvania; provided, however, that said cor-
poration shall have no right to use the public highways of Cecil
County, or any of them, without the consent of the County
Commissioners of said county, nor shall they use the streets of
any town without the consent of the Town Commissioners of
said town. And the said company shall have the power to
transport and haul passengers, parcels, packages and general
freight over said railroad and to charge such rates of compen-
sation therefor as the board of directors may from time to time
determine.