estate or interest therein to secure any sum or amount due or owing to the Company and to exercise all the powers incidental to or that may be exercised by the holder of any such securities or necessary to realize on the same. (d) To invest monies of the Company on Mortgages, Judgments or any other real or personal estate in the Province of Prince Edward Island or elsewhere in the Dominion of Canada. (e) To subscribe for, take, hold and dispose of shares in any corporation organized or to be organized and the Board of Directors is authorized to appoint any person to vote as a shareholder in relation to the shares so held by the Company in such Corporation. (f) To make, draw, endorse, accept, negotiate or otherwise deal with promissory notes, bills of exchange or other negotiable instruments in the course of the business of the Company. (g) In connection with the foregoing to have and to exercise all the rights, powers, authorities, franchises and privileges that a private individual might or could possess or enjoy. 3. The Chief Place of business of the Company chief place of shall be at Corraville in King's County in the Pro- business. vince of Prince Edward Island or at any other place selected by the Company. 4. The Capital Stock of the Company shall be capital. Two Thousand Five Hundred Dollars ($2,500.00) to be divided into One Hundred Shares of TwentyFive $25.00) Dollars each; provided that the Company may at any time by a two-thirds vote of its shareholders have power to increase the said Capital Stock to a sum not exceeding Five Thousand Dollars ($5,000) and each shareholder shall have one vote for Name of Com pany. Directors. Liability of shareholders. Transferring stock. Directors indemnifiea each share held by him in the capital stock of the Company. 5. The Company may use "Corraville Registered Sheep Ranch, Limited," as the form of its signature, and the same shall mean and be binding on the Company. 6. The affairs of the Company shall be managed by a Board of five directors, and the five persons. named in the first section of this Act are hereby constituted provisional directors of the Company. 7. No shareholder of the Company shall be liable in his person or separate estate for the debts or liabilities of the Company to a greater amount than the unpaid portion of the stock or shares held by him in the Company, unless he shall have rendered himself liable for a greater sum by becoming surety for the debts or liabilities of the Company. 8. All transfers of shares in the Company shall be made on the books of the Company and no shareholder shall sell, assign or transfer any share held by him in the Company without first having obtained the consent in writing of the Directors and should any shareholder sell, assign or transfer his shares without such consent, the Directors may decline to register such transfer. 9. Every Director of the Company and his heirs, executors and administrators and his and their estate and effects shall from time to time and at all times be indemnified and saved harmless out of the funds of the Company from and against all costs, charges and expenses whatsoever which he or they shall or may sustain or incur in and about any action, suit or proceeding which shall be brought or prosecuted against him for or in respect of any act, deed, matter or thing whatsoever, made, done or permitted by him in or about the execution of the duties of his office and also from and against all other costs, charges and expenses which he or they shall sustain or incur in or about or in relation to the affairs thereof, except such costs, charges and expenses as shall be occasioned by his or their own wilful neglect or default. Stock Cos'."Act 10. The Provisions of "The Prince Edward P. E. I. Joint Island Joint Stock Companies' Act" and amendments to apply thereof shall apply to and be read as part of this Act in so far as they are not inconsistent herewith. Preamble. CHAPTER 19. An Act to incorporate the Trustees of the W late Owen Connolly (Assented to April 26th, 1918.) HEREAS Owen Connolly, late of Charlottetown. in Queen's County, in the Province of Prince Edward Island, Merchant, now deceased, by his last will and testament in writing bearing date the fifth day of May, one thousand eight hundred and eightyfive and several codicils to the said last will and testament which said last will and codicils are duly filed and registered in the office of the Surrogate and Judge of Probate at Charlottetown aforesaid (a copy of which said Will and Testament and of the said codicils thereto is contained in the Schedule to this Act annexed) appointed the Honorable Andrew A. McDonald, the Honorable W. W. Sullivan and Frederick Peters all of Charlottetown aforesaid to be the Executors and Trustees of the said Will and codicils and it was by said Will and codicils declared that all trusts and powers therein reposed and vested in the said trustees should or might be exercised by the survivor or survivors of them or the heirs, executors, or administrators of such survivor or other the trustees or trustee for the time being of the said will and codicils; and that if the trustees thereby appointed or any of them. should die in the lifetime of the said testator or if they or any of them or any future trustee or trustees of the said will and codicils should die or go to reside abroad or desire to retire from or refuse or become incapable to act in the trusts of the said will and codicils before the same should be fully performed then and in every such case it should be lawful for the continuinig trustee or trustees for the time being of the said will and codicils to appoint any other person or persons to be a trustee or trustees in the place of the trustee or trustees so dying or going to reside abroad, or desiring to retire, or refusing, or becoming incapable to act as aforesaid, with liberty upon any appointment to increase but not to decrease the number of trustees. And whereas by the codicil to the said last will and testament bearing date the twenty-seventh day of August one thousand eight hundred and eighty-seven, the said Owen Connolly directed that his said trustees should stand possessed of the residue of his property (after fulfilling the trusts contained in the said will as such trusts then stood as altered by the several codicils theretofore made by him and by the said codicil herein in part recited) and of the investments for the time being representing the same upon trust to collect the interest, dividends, rents, issues, and profits of the balance of his residuary estate and to apply the whole thereof, less expenses of collection for the purpose of educating or assisting to educate poor children resident in Prince Edward Island who are members of the Roman Catholic Church and who are Irish or the sons of Irish fathers. AND WHEREAS the present trustees of the said last will and codicils are Sir William Wilfrid Sullivan, ex-Chief Justice of the Province of Prince Edward Island, Gilbert Gaudet of Charlottetown, aforesaid, Barrister, and Charles R. Smallwood, of Charlottetown a foresaid, Barrister. said Owen Connolly by his said last will and codicils gave power to increase but not to decrease the number of said trustees and expressed therein his desire that there shall always be at least three trustees of his said AND WHEREAS the |