Certain sec tions of 9 Y. Certain sec tions of 14 & 15 V c. 51, Act. Record of II. The fourth, ninth, thirteenth, twenty-eighth and twentyninth sections of the Act last above cited, incorporating the said Company, shall be and are hereby repealed. III. The thirteenth sub-section of the twenty-second section (headed "General Provisions") of the Railway Clauses Consolidation Act, as explained by the eighth section of the Act passed in the sixteenth year of Her Majesty's Reign, and intituled, An Act in addition to the General Railway Clauses Con solidation Act, and the fifth sub-section of the said twentysecond section of the Railway Clauses Consolidation Act, shall be and are hereby incorporated with, and shall be held to make part of the said Act incorporating the said Company. IV. The Record of the Award or Arbitration mentioned in the sixth section of the said Act incorporating the said Company, being deposited in the Registry Office of the proper the Company. County, shall, on payment of the amount of such Award, into any Chartered Bank of this Province, for the party entitled to the same, be a good and valid title to the Company for the lands therein mentioned, and for which compensation is thereby awarded; and the sum thereby awarded as compensation, after deducting the costs of the arbitration, shall be a debt due by the Company to the party or parties entitled to receive such compensation, of which debt the award or copy thereof certi fied by the Register having the custody thereof, shall be sufficient evidence, and such debt shall bear legal interest from the date of such award until paid, if demanded within five years from the date thereof, otherwise the same shall bear interest from the time it shall be demanded. Evidence thereof. Directors may appointagents. V. The Directors of the said Company may appoint such and so many agents in this Province or in any other part of Her Majesty's Dominions, as to them shall seem expedient, and may by any By-law to be made for such purpose, empower and authorize any such agent or agents to do and perform any act or thing, or to exercise any powers, which the Directors themselves or any of them may lawfully do, perform and exercise, except Their powers. the power of making By-laws: and all things done by such agent or agents by virtue of powers in him or them vested by any such By-law, shall be as valid and effectual to all intents and purposes as if done by such Directors themselves; any thing in the said Act incorporating the said Company, or in any Act amending it, to the contrary notwithstanding. Increase of VI. And whereas the present Capital of the said Company is found inadequate to the completion of their line of road and its branches, in an efficient and satisfactory manner: Be it therefore enacted, That the said Company are hereby authorized to increase their Capital Stock to the extent of Two hundred and fifty Thousand Pounds Currency, in addition to their present Capital, by creating an additional number of shares, not exceeding twenty-five thousand, of Ten Pounds Currency each Debentures VII. For the more speedy completion as well of the main Company may line as of the branch line of road which the said Company are borrow money empowered to construct, it shall be lawful for the said Com- and issue pany, and they are hereby authorized, upon obtaining the con- convertible or sent of a majority of the Stockholders, at a Special Meeting to otherwise. be called for that purpose, to borrow within this Province or elsewhere, and to issue their Bonds, convertible into Stock or otherwise, as may be agreed upon, to an amount not exceeding Two hundred and fifty thousand pounds, bearing interest not Interest. exceeding eight per cent per annum, payable semi-annually, at such times and places in this Province or elsewhere as the Board of Directors shall direct, which said Bonds shall be trans- Transfer of ferable, sealed with the Seal of the Company, and signed by Bonds. the President and Secretary thereof, and payable not more than twenty years from the date thereof; and for securing the pay- Mortgage for ment of the said Bonds, or such portion thereof as the Directors securing of may deem expedient, with the interest thereon accruing, the Bonds, &c. said Company are hereby authorized to make and execute a mortgage to the holder or holders of such Bonds, or of such portion of said Bonds as may be specified in such mortgage, or to trustees for the benefit of such holder or holders, of all the property, lands and tenements of the said Company, or which may be purchased or in any way acquired or pertaining to the construction of the said Railroad and of the said Branch, and of all the right of way acquired or which may be acquired by the said Company or any portion thereof, as also of the iron rails and other fixtures connected with the superstructure of the said road and branch line, and all or any portion of any other property, real or personal, of the said Company, and also the rents, profits, tolls and revenues of the same; and the registration of any such mortgage made in the County in which the land or real estate of the Company thereby specially mortgaged, or such part thereof shall lie, shall perfect the same, and be to all intents binding upon the said Company; any law, usage or custom to the contrary notwithstanding: Provided always, that in describing the lands of the Company in any such mortgage or memorial, it shall be sufficient to say "the line of the Railway and all the lands of the Company lying within the Counties of "enumerating the various counties through which it passes, if the mortgage be intended to cover the whole of such line and lands, or otherwise as the case may be, without further particularity. VIII. And whereas a Telegraph Company has been formed Recital. under the provisions of the Act sixteenth Victoria, chapter ten, called "The North-western Telegraph Company," for the pur- Telegraph on pose of constructing a Telegraph Line along the line of the the Railway. said Railway; And whereas the efficient and safe working of the Railway will be promoted thereby; And whereas the Railway Company have agreed to take, and the President thereof has subscribed for shares to the amount of Five Hundred Pounds in the Capital Stock of such Telegraph Company, and doubts doubts may arise as to the legality of such subscription: Be it therefore declared and enacted, That it has been and shall be lawful for the said Railway Company by their President, to subscribe for, take, have, hold and depart with such an amount of the stock of the said Telegraph Company as the Directors of the said Railway Company from time to time deem proper; and to pay up the calls upon such stock out of the funds of the said Railway Company; and that whilst the said Railway Company remains Stockholders in the said Telegraph Company, the President for the time being of the Railway Company shall, ex officio, be and possess and use all the powers of a Director of the said Telegraph Company; Provided also, that it shall be lawful for the Railway Company, at any time to purchase from the Telegraph Company all their rights, property and interests, in which case the Railway Company shall own the same, and may manage, control, have, use and work the said Telegraph Line as their own, and shall thenceforth have, use, exercise and enjoy all the rights, privileges and powers of the said Telegraph Company, under the provisions of the said Act sixteenth Victoria, chapter ten, or of any other Act or Acts amending the same. IX. This Act shall be a Public Act. CAP. XXX VII. Preamble. ner. An Act to increase the Capital Stock of the Niagara [Assented to 18th December, 1854.] HEREAS the Niagara Falls Suspension Bridge Company have applied for an increase of the Capital Stock of that Company, and it is expedient to grant the same: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, as follows: Company may I. It shall and may be lawful for the said Niagara Falls increase their Suspension Bridge Company to increase their Capital Stock Stock by £25,000, and by an amount not exceeding Twenty-five Thousand Pounds, in what man of lawful money of this Province, by creating an additional number of Shares, not exceeding One Thousand, of Twentyfive Pounds each, which Shares may be subscribed for either in or out of this Province, in such proportions or numbers and at such times and places, and under such regulations and conditions as the majority of the Directors of the said Company shall 1854. 16 Cap. 42 145 Commercial Bank M. D. to perfect the transmission of a share of the Bank, which shall be V. If the transmission of any Share of the Bank be by Proof of transvirtue of the marriage of a Female Shareholder, the declara- mission by tion shall contain a copy of the Register of such marriage, or bequest, &c. marriage, other particulars of the celebration thereof, and shall declare the identity of the wife with the holder of such share; and if the transmission have taken place by virtue of any testamentary Instrument or by Intestacy, the Probate of the Will, or the Letters of Administration, or Act of Curatorship, or an official extract therefrom, shall, together with such declaration, be produced and left with the Cashier, or other Officer or Agent of the Bank, who shall thereupon enter the name of the party entitled under such transmission, in the Register of Shareholders. see to trust. VI. The Bank shall not be bound to see to the execution of Bank not to any trust, whether express, implied or constructive, to which be bound to any of the Shares of the Bank may be subject; and the receipt of the party in whose name any such share shall stand in the Books of the Bank, or if it stand in the names of more parties than one, the receipt of one of the parties, shall from time to time be a sufficient discharge to the Bank for any dividend or other sum of money, payable in respect of such share, notwithstanding any trust to which such share may then be subject, and whether or not the Bank have had notice of such trust; and the Bank shall not be bound to see to the application of the money paid upon such receipt; any law or usage to the contrary notwithstanding. in Provincial VII. It shall be the duty of the Directors of the said Bank to One tenth of invest, as speedily as the debentures hereinafter mentioned can paid up Capital be procured from the Receiver General, and to keep invested at to be invested all times, in the debentures of this Province payable within the Securities. same, or of the Consolidated Municipal Loan Fund, one tenth part of the whole paid up Capital of the said Bank, and to make a Return of the numbers and amount of such debentures, verified by the oaths and signatures of the President and Chief Cashier or Manager of the said Bank, to the Inspector General, in the month of January of each year, under the penalty of the forfeiture of the Charter of the said Bank in default of such investment 10 Proviso. Proviso. Duration of this Act and other Acts 1e lating to the Bank. Proviso. Monthly investment and Return: Provided always, that the said Bank shall not be bound to invest any portion of its Capital in debentures under the provisions of this section unless it shall avail itself of the power to add to its present Capital Stock pursuant to this Act; And provided also that the said power hereby conferred to add to its Capital Stock, shall cease and determine unless the said Bank shall, by an instrument under its Corporate Seal, signify to the Governor in Council, within one year after the passing of this Act, its intention to avail itself of the said power to add to its Capital Stock as aforesaid. VIII. This Act and the Act of Incorporation of the said Bank and any Act amending the same, shall be and remain in force until the first day of January, which will be in the year of Our Lord one thousand eight hundred and seventy, and from that time till the end of the then next Session of the Parliament of this Province, any thing in the said Act of Incorporation contained to the contrary notwithstanding, and no longer: Provided always, that the extension of time in this clause enacted, shall not take place unless the said Bank shall signify its intention to add to its Capital Stock within one year after the passing hereof, in the manner provided in the next preceding section. IX. The statement required by the twenty-ninth section of statement re-, the first above cited Act to be made semi-annually by the said quired instead of half yearly. Corporation, shall be made on the first Monday of each and every month, in the manner provided by the said section of the said Act. Public Act. X. This Act shall be deemed a Public Act. CAP. XLIII. Preamble. Bank may add £200,000 to its Stock. An Act to increase the Capital Stock of La Banque du W [Assented to 18th December, 1854.] HEREAS La Banque du Peuple has prayed to be permitted to increase its Capital Stock, and it is expedient to grant its prayer: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, as follows: I. It shall be lawful for La Banque du Peuple to add to its present Capital Stock, the sum of two hundred thousand pounds currency, |