4420

LAWS OF MARYLAND

Ch. 820

the period of six months after the date named in said
agreement for payment thereof the cash value of their said
shares as defined and set forth in said agreement, shall be
treated as and conclusively presumed to be an election on
the part of such holders to accept the stock of the
purchasing company to which by the terms of said agreement
they shall be entitled, and thereafter such holders shall be
entitled only to exercise the privilege of exchange of their
stock for stock of the purchasing company upon the terms and
conditions provided in said agreement, and the cash value of
said shares as defined and set forth in said agreement shall
be retained by and become the property of the purchasing
company. But the provision of this paragraph shall not
apply to the holder or holders of stock of the selling
company who shall, pursuant to the provisions of paragraph
second thereof, have taken the proceedings authorized
therein for the determination of the value of their shares.

Fourth. In connection with and to consummate only
purchase authorized by the terms of this section, the
purchasing company may issue its own capital stock or bonds,
either or both, to such amount as may be required by the
agreement or as may be otherwise necessary in order to
provide the price or consideration to be paid by the
purchasing company or to pay off or retire the bonds or
capital stock of the selling company, or to effect exchanges
of the bonds and stock of the selling company for those of
the purchasing company.

213.

Whenever freight forwarded upon any railroad to any
point in this State shall consist of livestock, or shall be
of such a perishable nature, or so damaged, or of such other
character as to make it impracticable for it to remain in
the possession of the company owning or operating said
railroad for the space of three months after its arrival at
the point to which it shall have been directed, and the
owner or person to whom the same is consigned cannot be
found after diligent inquiry, or being found and notified of
the arrival of such freight shall refuse or neglect to
remove the same, and pay the legal charges thereon, for the
space of twenty-four hours, then, upon application by said
railroad company, verified by affidavit, to any judge of the
circuit court for the county in which the freight may be,
[or to any judge of the Supreme Bench of Baltimore City,
assigned to one of the common law courts of said city, if
said freight be in said city,] setting forth the reasons for
which said application is made, it shall be lawful for said
judge to pass an order for the sale of said freight whenever
said judge may deem such sale expedient, on such terms and
notice as the order may prescribe; and the proceeds of said
sale, if there be any remaining over, after payment of the
expenses incident thereto and legal charges, including cost
of the keep of such livestock or cost of storage on said