562

LAWS OF MARYLAND.

May make
lateral roads.

Sec. 9. And be it enacted, That it shall and may
be lawiul-fon ibe.said company to make and con-
struct lateral roads through the property of such
persons or parties as may consent, and agree to
such occupation of th'eir land, and to connect the
same with the main branch of said road.

Bonds may be
issued.

Sec. 10. And be it enac/ed, That it shall and
may be lawful for the said company to issue its
bonds or obligations in sums not less than one
hundred dollars each, and payable, with interest,
at such time or times as the President and Direc-
tors of said company may appoint, and to sell and
dispose of the same, and to provide security for the
payment of, the same by mortgage or otherwise,
and also that it shall and may be lawful for the
said company to issue certificates of stock and to
apply the same, if they shall find it expedient to
do so, in payment of the expenses of construction
and equipment of said road or other liabilities of
said company.

Powers of
President and
Directors.

Sec. 11. And be it enacted, That the stockhold-
ers of said company in general meeting assembled,
or a majority of them, shall have power to make
and adopt such by-laws, rules and regulations for
the direction and management of said company as
may, in their judgment, be necessary for the pur-
poses of their incorporation not inconsistent with
the provisions of this charter and the laws and
Constitution of this State, and the President and
Directors of said company, or a majority of them,
shall constitute, appoint and employ such officers,
agents and servants for the construction, repair
and preservation of said road, and the running of
cars and the transportation of passengers thereon,
and for the transaction of all other business of said
company, as jn their judgment may be necessary.

Banking
privileges pro-
hibited.

Sec. 12. And be it enacted, That nothing in this
act contained shall be so construed an to authorize
said company or its agents or officers to issue any
scrip or bank-note, or exercise any banking privi-

Proviso.

leges; and provided, that no steam power shall
be used if the road is built on the bed of the turn-
pike.

Time limited.

Sec. 13. And be it enacted. That unless the said
road shall be commenced in one year from the pas-
sage of this act and completed within three years