1362                           LAWS OF MARYLAND                      [CH. 649

or enjoyed by the corporation which owned or held such railroad
previous to such sale under or by virtue of its charter and any
amendments thereto, and of other laws of this State, or the laws of
any other state in which any part of such railroad may have been
situated, not inconsistent with the laws of this State.]

[223. Same—Power to issue bonds and secure them by mortgage or
deed of trust.]

[Such corporation shall also have power to make and issue bonds
bearing such rate of interest not exceeding six per cent, per annum,
payable at such times and places, and in such amount or amounts as
it may deem expedient, and to sell and dispose of such bonds at
such prices and in such manner as it may deem proper, and to secure
the payment of such bonds by mortgage or deed of trust of its
railroad, or any part thereof; and its real and personal property and
franchises, and all of the property and franchises of such corporation
embraced, or intended to be embraced in any such mortgage or deed
of trust, whether then held or thereafter acquired, shall be subject
to the lien and operation of such mortgage or deed of trust, and in
case of sale under the same shall pass to and become vested in the
purchaser or purchasers thereof, so as to enable him or them to form
a new corporation in the manner hereinbefore prescribed, and to vest
in such new corporation all the faculties, powers, rights, immunities,
privileges and franchises possessed by its predecessor or conferred by
this section.]

[224. Same—Power to sell, lease, assign to and consolidate with con-
necting railroad.]

[Any railroad company incorporated under the provisions of Sees.
220, 222 or 223 shall have power to sell, lease, assign or transfer its
stock, property and franchises to, or to consolidate the same with
those of any other railroad company incorporated under the laws of
this or any other state, or of the United States, whose railroad within
or without this State shall connect with or form a continuous line
with the railroad of the company incorporated under said sections,
upon such terms as may be agreed upon; provided, however, that the
agreement for any such sale, lease, assignment, transfer or consoli-
dation, shall be submitted to the stockholders of the railroad com-
pany incorporated under said section at a special meeting called for
considering the same and shall be sanctioned by the holders of two-
thirds of the stock represented at such meeting in person or by proxy,
and if sanctioned at such meeting, shall be filed in the office of the
Secretary of State of this State; and provided, further that such
agreement shall contain no provisions in conflict with the provisions
of this article, or which shall exempt such railroad, so far as it lies
within this State, from the operation of the laws of this State.]

[225. Same—Power to purchase or contract for use of connecting
road.]

[Any railroad company incorporated under the provisions of
Secs. 220, 222 and 223, shall also have power to purchase or contract
for the use and enjoyment, in whole or in part, of any other railroad
or railroads lying within or without this State, if the same shall con-
nect with or form a continuous line with the railroad of the company
incorporated under said sections.]