Ind. Code § 8-3-3-1

Sec. 1. The corporate power of street and interurban railroad corporations and steam railroad corporations, organized under the laws of this state, is hereby extended and shall be construed to include the power to acquire, own and operate motor vehicles along and over the streets and highways of the state for the transportation for hire of passengers and freight, either directly or through a subsidiary company or companies, subject to all provisions of law concerning permits, licenses and regulation of such form of transportation for motor vehicles.