CHAP. 62. An Act respecting the St. Lawrence and Adirondack W [Assented to 29th June, 1897.] WHEREAS the St. Lawrence and Adirondack Railway Preamble. Company, was, by chapter thirty-seven of the statutes of 1896, authorized to issue, under the provisions of The Rail- 1896, c. 37. way Act, bonds to the extent of thirty thousand dollars per mile of its railway constructed or under contract to be constructed; and whereas the said Company has, by its petition, represented that it has constructed forty-three miles of its railway, and has issued bonds to the extent of eight hundred thousand dollars (being part of the whole authorized issue with respect to the said forty-three miles) as first mortgage bonds, secured by an indenture of first mortgage dated the first day of July, one thousand eight hundred and ninety-six, to the Continental Trust Company of New York, under the provisions of The Railway Act, and that it has also issued bonds to the extent of four hundred thousand dollars as second mortgage bonds, dated the first day of July, one thousand eight hundred and ninety-six, secured by an indenture of second mortgage to the Continental Trust Company of New York, dated the first day of July, one thousand eight hundred and ninety-six, a duplicate original of each of which indentures has been deposited in the office of the Secretary of State of Canada, and that doubts have been expressed as to the right of the said Company to issue the said four hundred thousand dollars as second mortgage bonds under its said bonding power and to secure them by the said indenture of second mortgage; and whereas the said Company has, by its petition, prayed to have it declared that it had authority to issue the said four hundred thousand dollars as second mortgage bonds under its said bonding power and to secure them by the said indenture of second mortgage; 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: Issue of bonds confirmed. 1896, c. 37. Power of Parliament as to future legislation. 1. It is hereby declared that the St. Lawrence and Adirondack Railway Company had, under and by virtue of chapter thirty-seven of the statutes of 1896, and of The Railway Act, the right and authority to issue, as second mortgage bonds and as a part of its issue of thirty thousand dollars a mile, the said bonds to the extent of four hundred thousand dollars and to secure them by the indenture of second mortgage mentioned in the preamble. 2. Any Act hereafter passed for the purpose of controlling railway companies incorporated by or subject to Parliament as to the issuing of stock or bonds, and as to rates or tolls and the regulation thereof, and as to running powers over or other rights in connection with the railway of any company by any other company, and the exercise of powers conferred upon railway companies, shall apply to the St. Lawrence and Adirondack Railway Company from the time such Act goes into effect. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. CHAP. 63. An Act respecting the Temiscouata Railway Company. [Assented to 29th June, 1897.] WHEREAS the Temiscouata Railway Company has, by its Preamble. petition, prayed for the passing of an Act for the purposes hereinafter set forth, 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: 1. Subsection two of section two of chapter sixty-five of 1895, c. 65, s. 2, statutes of 1895, is hereby repealed. amended. ed for con 2. The extension authorized by subsection one of section Time extendtwo of the said Act, shall be commenced within two years, struction of and completed within five years from the passing of this Act, extension. otherwise the powers granted for such construction shall cease and be null and void as respects so much of the extension as then remains uncompleted. line of railway 3. The Temiscouata Railway Company, hereinafter called Extension of "the Company," may lay out, construct and operate an described. extension of its line of railway from a point on the line authorized to be constructed by chapter sixty-five of the statutes of 1895, to a point of connection with the railway of the Central Railway Company at or near the Newcastle coal fields (so called) at Newcastle in the county of Queen's, in the province. of New Brunswick. 4. The provisions of the original charter of the Company Charter and and of the Act confirming it, as to the issue of bonds and confirming, Act to apply otherwise, with respect to its main line, shall apply also to the to extension. extension hereby authorized. Central Rail 5. The Company may purchase, lease, or acquire running Control of powers over the railway of the Central Railway Company, way Comprovided that the terms of the purchase, lease or agreement pany's railfor obtaining running powers have been first approved by two- Proviso. way. Sanction of Council. Notice of application for sanction. 1888, c. 29. Power of Parliament as to future legislation. thirds of the votes at a special general meeting of the shareholders duly called for the purpose of considering the same,at which meeting shareholders representing at least two-thirds in value of the stock are present or represented by proxy,and that such agreement has also received the sanction of the Governor in Council. 2. Such sanction shall not be signified until after notice of the proposed application therefor has been published in the manner and for the time set forth in section two hundred and thirty-nine of The Railway Act, and also for a like period in one newspaper in each of the counties through which the railway of the Company runs, and in which a newspaper is published. 6. Any Act hereafter passed for the purpose of controlling railway companies incorporated by or subject to Parliament as to the issuing of stock or bonds, and as to rates or tolls and the regulation thereof, and as to running powers over or other rights in connection with the railway of any company by any other company, and the exercise of powers conferred upon railway companies, shall apply to the Temiscouata Railway Company from the time such Act goes into effect. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. CHAP. 64. An Act respecting the Trail Creek and Columbia WE Railway Company. [Assented to 29th June, 1897.] WHEREAS the Trail Creek and Columbia Railway Com- Preamble. pany has, by its petition, prayed that certain additional powers be conferred on it as hereinafter set forth, 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: 1. The Trail Creek and Columbia Railway Company, here- Line of railinafter called "the Company," may, in addition to the railway way described. described in chapter sixty-seven of the statutes of 1895, 1895, c. 67. construct a railway from the terminus near Trail Creek Mines, described in the said Act, or from any point on the Columbia River between the international boundary and its junction with the Kootenay River, thence westerly to a point on Kettle River north of the international boundary. 2. The Company may issue bonds not exceeding thirty Amount of thousand dollars per mile of its railway; but such issue shall bonds limited. be limited to and shall only apply to the extension westerly above described, and such extension shall be throughout of a gauge of four feet eight and one-half inches. 3. The various sections of the Company's Act of incorpora- 1895, c. 67 to tion shall apply to the railway and extension above described, apply. in so far as they are applicable thereto. for construc 4. If the construction of the railway and extension described Time limited in section one of this Act is not commenced within two years tion of railafter the passing of this Act, and fifteen per cent on the amount way. of the capital stock of the Company is not expended thereon within the said two years, or if the said railway is not finished and put in operation within five years from the passing of this Act, then the powers conferred upon the Company by Parliament shall cease and be null and void as respects so much of the railway and extension as then remains uncompleted. |