The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1876-05-19
LazUS--- General.


dollars, by the addition of as many shares as
they may deem necessary, for which they may
at their option cause subscriptions to be re-
ceved in the manner prescribed by them, or
they MAJ sell the same for the benefit of the
company, for any amount not under their par
value and they or a majority of them shall have
power to borrow money for the purpose of con-
structng or equipplng said road and make and
execute bonds or certificates of Indebtedness
under the seal of the company for such sum or
sums, and payable at such time or times, and TO
sell and dispose Of the same on such terms, as to
the president and directors may seem proper
provided, that nothing herein contained shall
be taken to authorize said company TO issue
anything in the nature OF bank note or other
paper to be used for circulation as II currency {;
and tie said president and directors of the said
company are authorized to make and execute
such mortgage or mortgages, from time to time,
of the works and property Of the said company,
as may be necessary TO secdre the payments of
the said bonds or certificates of debt and of the
interest thereon, according to he tenor of the
said bonds and certificates Of debt and the said
mortgage or mortgages when so made as aforc-
said, shall be made TO IL trustee or trustees, who
shall hold the works and property mort
gdgcu and may dispose of the same according to
the TINS Of the said mortgage or mortgages,
for the benefit of the persons intended to be Sc
cared by said mortgage or mortgages.
Sec. IL And be it enacted, That the presi-
dent and directors Of said company shall be, and
;,c hereby invested with all the rights and
powers necessary to the construction and repair
of the railroad authorized ly this Act of As
semb'y, which shall not exceed siXtysiX feet in
width on the surface, but may have such adj
ditions as may be necessary for slopes and en-
bankments. and shall have rs many sets of
tracks, switches and turnouts and branches not
exceeding ten miles in length, the said presi-
dent and directors may deem Necessary, and the
said president and directors may cause to be
made, or contract with others for making said
railroad tracks, switches, turnouts and br. LeS,
or any part thereof, including bdildlng Of brid-
ges, ~'c2ssary warehouses, depots and stations,
and lying scales and weights, and all works
whatsoever, which may be necessary to the pro-
per completion and working Of said road and
branches, and may acquire any land, earth,
stone, gravel or other material required for any
of the purposes aforesaid, by agreement with the
owners thereof, or by condemnation, as pro
vi5ed in sections one hundred and seventy, one
hundred and seventy-one one hundred and
seventy-two, one hundred and seventy-three,
one hundred and seventy-four and one hundred
and seventy-fve of article twenty-six of the
Code, entitled Corporations" and all said Sec
tions shall apply to this railroad company.
Sec. 10. And be it enacted, That whenever in
the construction of the said road or roads, or
branches, it shall be necessary 10 cross or in
.ersect any established road or way, it shall be
the duty of the president and directors of said
company so TO construct the said road or roads,
or branches. across the establish d road or way
as not to impede the passage or transpor alton
Of persons or properly along the same, or where
it shall be necessary TO pass through the land OF
any individual it shall also be their duty to
provide for each individual proper wagon-wags
across said road or roads, from one part of his
land to the other.
Sec 90 And be it enacted Tint the said
president and directors, or a majority of them,
shall have power 20 purchase, with the funds of
said company, and place on any railroad, con-
structed by Item under this act, all engines,
cars or carriages of any description wha soever
which they may deem necessary or proper for
the purposes Of transportation on said railroad
add they shall have power TO charge for the
transportation of persons, goods, produce, mer-
chandise, or property Of any kind whatsoever,
transported by them along said rairoat, an
sum not exceeding three cents per mile for all
passengers: and not exceeding five cents per ton
per mile upon all goods, produce merchandise,
oc property of any description whatsoever trans
ported thereon, except upon flour, grain, c""n,
oats, tobacco, whiskey, coal, iron, lime, ore,
lum .er. plaster, stone, wood fish and salt, upon
which the rates shall not exceed six cents per
ton per mile; bat any person or persons Or cor
porations in this State or the United States, NAV
contract with this company for the exclusive
use of any car or cars or train on this road at
such times, upon such terms, and at such rates
or prices as may be agreed upon betwecl the
parties to the said contract aud it shall not be
lawful for any other company, or for any person
or persons whomsoever, to navel upon or use
any of the roads of said company. or to trans
port persons, merchandise, produce or propertv
of any description whatsoever, on or along said
roads or any of them without license or per-
mission of the president and directors of said
company and the said road or roads with all
tnelr wolhS' improvements ano pronts' ana all
.1e ,nas.it 'y Ut uI"slor lion u'ou o' salu
roau, "r1 GecN'reu 10 NC I.s.eu III lllG salu com
ptny anu ti,eir suoVt'9or' anu 'ie slaies
q Tue capital stoch y, s"'u company shall nc
deemed "uu cohsluereu personal estate
Sec 81. And be it enacted That the said
president ana directors snall annually or semi
annually declare ana MAKE such ulriueha, as
Ihey may oeshl proper, OF 'he net prohts at'slhg
from the resources OF inc sad company, alter
deduclhg the necessary current anu pfopa0le
contingent expenses, ana they shall elvlde the
s9iu alFIuend among tle proPtletors Oh inc sock
OF salu company III proper proportion 10 'helr