48:15-10. General powers
Every street railway or traction company shall have power:
I. To construct lines of street or passenger railways and all necessary turnouts, sidings and bridges on, along or over any stream or highway by extension of existing railways or by the building of new lines thereon, either wholly within or partly within or wholly between or partly within and between municipalities and counties, and the same when constructed to equip, maintain and operate for the carriage of passengers and property;
II. To contract with any person for such construction, equipment, maintenance or operation;
III. To enter upon any street upon which any street railway or railroad operated as a street railway is now or may hereafter be constructed, with the consent of the owner or lessee of such railway or of the person operating the same, and construct, maintain and operate such railway;
IV. To construct, maintain and use such motors, cables, electrical or other appliances, tunnels, subways for cables, poles, wires, conduits or other devices for transmitting and using electrical or other forces as will provide for the traction of cars on street railways or other railroads operated as street railways;
V. To purchase, hold, sell, pledge, mortgage or otherwise dispose of any capital stock or securities of other companies owning, leasing or operating any street railway or railroad operated as a street railway, turnpike or plank road or engaged in the construction or equipment thereof, or in creating or supplying power for the operation thereof, and to exercise all the rights, powers and privileges in respect to such capital stock and securities which a natural person could do;
VI. To have all other powers necessary to the performance of its duties and the exercise of its privileges imposed or conferred by law.