CHAP. 9.

An Act respecting the St. Catharines and Niagara
Central Railway Company.

[Assented to 5th October, 1896.]

WHEREAS the St. Catharines and Niagara Central Railway Preamble.

Company has, by its petition, prayed for the passing of an Act to amend, as hereinafter mentioned, the Acts relating to the Company, and it is expedient to grant the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

etc.

1. The Company may, with the consent of the holders of the Issue of prebonds of the Company now outstanding, issue bonds or deben- ference bonds, tures, to be designated first mortgage preference bonds, to the extent of fifty thousand dollars; and such bonds or debentures shall have priority over all other bonds, debentures, or debenture stock, heretofore issued by the Company, and shall be a first and preferential charge on the Company and the franchises, undertaking, rights, tolls, revenues, income and property thereof, real and personal; provided that the city of St. Proviso. Catharines shall have authority to give such consent on behalf of the holders of any bonds of the Company now outstanding which have been guaranteed by the said city, and any consent so given by the said city shall be binding on the holders of such outstanding bonds so guaranteed.

2. The said first mortgage preference bonds shall bear Interest on interest at a rate not exceeding six per cent, and the Company bonds. may secure the same by a mortgage deed, made in the manner provided by The Railway Act, and containing a power of sale, in case of default, of the railway, including the undertaking and all the Company's franchises, rights and properties secured by such bonds.

3. The said first mortgage preference bonds when issued Application shall be applied in repairing, completing and equipping the of bonds.

Increase of capital stock.

Company may construct branch line.

Time for con

struction extended.

portion of the said line of railway already constructed and in operation.

4. The capital stock of the Company is hereby increased to, and declared to be, one million six hundred thousand dollars, and shall consist, notwithstanding anything contained in The Railway Act to the contrary, of thirty-two thousand shares of fifty dollars each.

5. The Company may also construct, equip and operate a branch line from its present terminus in St. Catharines to a point on the Toronto, Hamilton and Buffalo Railway at or east of the village of Smithville, in the county of Lincoln.

6. The time limited by the several Acts respecting the St. Catharines and Niagara Central Railway Company, for commencing the branches authorized by the said Acts or any of them, is hereby extended for the period of two years from the passing of this Act, and the time for completing the said main line and branches is hereby extended for five years from the passing of this Act; and the branch line authorized by this Act to be constructed, shall be commenced within two years and completed within five years from the passing of this Act; and if the said railway and branches are not commenced and completed within the times herein mentioned, then the powers granted for such construction shall cease and be null and void as respects so much thereof as then remains uncompleted.

OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty.

CHAP. 10.

An Act respecting the South Shore Railway

Company.

[Assented to 5th October, 1896.]

c. 72.

HEREAS the South South Shore Railway Company was Preamble. incorporated by an Act of the Legislature of Quebec, being chapter seventy-two of the Statutes of 1894; and where- Que. 1894, as the railway of the said Company is a work for the general advantage of Canada, and the said Company has by its petition prayed that it may be constituted a body politic and corporate under the legislative control of the Parliament of Canada; and whereas, by the said petition, the said Company has prayed for an extension of the powers conferred upon it by the said Act of the Legislature of Quebec ; and whereas it is expedient to grant the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, declares and enacts as follows:

1. The undertaking of the South Shore Railway Company, Declaratory. a Company incorporated by chapter seventy-two of the Statutes of 1894 of Quebec, and hereinafter called "the Company," is hereby declared to be a work for the general advantage of Canada.

2. The Company, as now organized and constituted under Incorporathe said Act of the province of Quebec, is hereby declared to tion. be a body corporate and politic within the legislative authority of the Parliament of Canada, and this Act and The Railway Act shall apply to the Company and its undertaking instead of the said Act of the province of Quebec and the Railway Act of Quebec: Provided that nothing in this section shall affect anything done, any right or privilege acquired, or any liability incurred under the said Act of the province of Quebec prior to the passing of this Act, to all of which rights and privileges the Company shall continue to be entitled, and to all of which liabilities the Company shall continue to be subject.

Capital stock.

Capital stock under Que., 1894, c. 72.

Head office.

Annual meeting.

Number of directors.

Line of railway described.

Construct elevators.

Lights on bridges.

Issue of bonds,

3. The capital stock of the Company shall be one million dollars.

4. The capital stock of the Company as authorized by the Legislature of Quebec shall be deemed to be the same as the capital stock mentioned in section three of this Act, and no right or claim to any share or shares thereof shall be prejudiced by anything contained in this Act.

5. The head office of the Company shall be in the city of Montreal.

6. The annual meeting of the shareholders shall be held on the third Tuesday in September in each year.

7. At such meeting the shareholders assembled who have paid all calls due on their shares shall choose seven persons to be directors of the Company, one or more of whom may be paid directors of the Company; and the Company may by bylaw reduce the number of directors to five.

8. The Company may lay out, construct and operate, by means of steam and otherwise, a single or double line of railway, of the gauge of four feet eight and one-half inches, on the south shore of the River St. Lawrence, commencing at a point in the town of Lévis, opposite Quebec, and going in a southwesterly direction, crossing the counties of Lévis, Lotbinière, Nicolet, Yamaska, Richelieu, Verchères, Chambly, Laprairie, Chateauguay and Beauharnois to a point on the Canada Atlantic Railway at or near Valleyfield.

9. The Company may construct such elevators and warehouses as are necessary for carrying on the business of the Company.

10. From sundown until sunrise, during the season of navigation, suitable lights shall always be maintained by the Company on the piers of all bridges over navigable streams to guide vessels approaching such bridges.

11. The Company may issue bonds, debentures or other etc., limited. securities to the extent of twenty thousand dollars per mile of the railway and branches, and such bonds, debentures or other securities may be issued only in proportion to the length of railway constructed or under contract to be constructed.

OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty.