HARRY HUGHES, Governor

4417

majority of them, when confirmed by said court, shall be
final and conclusive; and the person so appointed shall also
appraise the share or shares of said stockholders in the
said company, at the market value thereof, without regard to
any depreciation resulting from said purchase and
acquisition, and the said company may, at its election,
either pay to the said holder the amount of damages so
found, or the value of the stock so ascertained, and upon
payment of the value of the stock, as aforesaid, the same
shall be transferred to and be vested in said acquiring
company.

Fourth. In connection with and upon consummation of
such acquisition as aforesaid, the acquiring company may
issue its own then authorized capital stock or its own
bonds, either or both, at not less than the par or face
value thereof, to such amount as may be required by said
agreement, or as may be found otherwise necessary for paying
and extinguishing the outstanding capital stock and bonded
indebtedness, or either, of the corporation whose rights,
property, privileges, franchises and credits are so
acquired.

210.

It shall be lawful for any railroad company,
incorporated under the laws of this State, or of this and
any other state or states, whether incorporated under the
provisions of this article or by special act or otherwise,
to purchase the railroad, property, rights, privileges,
franchises and credits of any other railroad company
incorporated under the laws of this, or of this and any
other state or states, or of any other state or states,
provided the railroads of the two companies connect, either
within or without this State, directly or by means of
intervening lines and form a continuous route or routes for
the transportation of persons and property; and any railroad
company incorporated as aforesaid of this State or of this
and any other state or states, is hereby empowered to sell
its railroad, property, rights, privileges, franchises and
credits to any other railroad company which is authorized by
the terms hereof to acquire the same, or to any railroad
company of another state or states which is lawfully
empowered to acquire the same. The purchase hereby
authorized shall be made and consummated in the manner
hereinafter provided, and when the same has been
consummated, the purchasing company shall be possessed of
and shall own, hold, operate, exercise and enjoy the
railroad, property, rights, privileges, franchises and
credits of the selling company; but nothing herein contained
shall be construed as exempting the purchasing company from
the operation of the laws of this State in respect to its
railroad and property within the State. Such purchase and
sale shall be effected in the manner following: