22

LAWS OF MARYLAND.

or on the railroad of the George's Creek Coal and
Iron Company, or any other railroad company;

Proviso.

Provided, that in the exercise of the powers
hereby granted, the said Preston Coal and Iron
Company shall not interfere with the rights and
privileges heretofore granted to such company,
or any other company incorporated by this State;
and to this end the said company is hereby fully
invested and clothed with all the rights, powers,
privileges and franchises mentioned and enumer-
ated in the twentieth, twenty-first and twenty-
second sections of the act of the General Assem-
bly of Maryland, passed January session, eigh-
teen hundred and fifty-two, chapter three hun-
dred and twenty-two, entitled "an act to author-
ise the formation of corporations for mining pur-
poses."

Authorised to
borrow money.

SEC. 4. And be it enacted, That the President
and Directors of said company, or a majority of
them, shall have power and authority to borrow
money for the lawful objects and purposes of said
company, and to make and execute bonds and
certificates of indebtedness under the seal of said
company, for such sum or sums, and payable at
such time or times, and to sell and dispose of the
same in such manner as to the said President and
Directors, or a majority of them, may seem pro-
per, and to secure the said indebtedness by mort-
gage or otherwise on its property in this State;
Provided, nothing herein contained shall be taken
to authorise the said company to issue anything
in the nature of a bank note or other paper to be
used or circulated as a currency.

In force.

SEC. 5. And be it enacted, That this act shall
be in force from and after its passage.