CHAP. 48. An Act to incorporate the Kaslo and Lardo-Duncan [Assented to 29th June, 1897.] WHEREAS a petition has been presented praying for the in- Preamble. corporation of a company to construct and operate a railway 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 Cominons of Canada, declares and enacts as follows: 1. Daniel J. Munn, of the city of New Westminster, David IncorporaW. Moore, of the town of Kaslo, and N. Franklin Mackay, of tion. the said city of New Westminster, in the province of British Columbia, with such persons as become shareholders in the company hereby incorporated, are hereby constituted a body corporate under the name of "The Kaslo and Lardo-Duncan Corporate Railway Company," hereinafter called "the Company." name. 2. The undertaking of the Company is hereby declared to Declaratory. be a work for the general advantage of Canada. 3. The head office of the Company shall be at the town of Head office. Kaslo, in the province of British Columbia, or in such other place in Canada as the directors from time to time determine by by-law. 4. The Company may lay out, construct and operate a rail- Line of railway of the of the gauge of four feet eight and one-half inches from a way described point in or near the town of Kaslo, in the district of West Kootenay, in the province of British Columbia, thence by Kootenay Lake to a point at or near Lardo, thence to a point at or near the southern end of Upper Kootenay Lake, thence along or near the shore of said Upper Kootenay Lake to a point at or near the mouth of the Duncan River, thence along the said Duncan River to its head water, with a branch line beginning at or near the mouth of the Lardo River, thence by Branch lines, 1888, c. 29. Power to elevators and vessels, Charge storage, the most feasible route to and by Trout Lake, to a point at or near Lardeau on Arrow Lake. 2. Subject to the provisions of sections one hundred and twenty-one and one hundred and twenty-two of The Railway Act the Company may construct and operate one or more branches from convenient points on its main line or on the branch line from the mouth of the Lardo River to Lardeau on Arrow Lake, to any mine adjacent to such main or branch line, but no such branch line shall exceed twenty miles in length. 5. The Company, at any point where the railway or any build docks,, branch thereof, touches or crosses any navigable water, may, for the purposes of its business, build, equip and operate docks and elevators, and steam and other vessels, and may collect wharfage and storage charges for the use of its wharfs and buildings, and may, in connection with its railway, convey passengers and freight, between ports in Canada and ports outside of Canada, and may carry on a general transportation service in connection with the said railway and may sell and dispose of such vessels. Convey passengers and freight. Provisional directors. Capital stock and calls thereon. Annual meeting. Election of directors. Amount of bonds, etc., limited. Issue of bonds. 6. The persons mentioned by name in the first section of this Act are hereby constituted provisional directors of the Company. 7. The capital stock of the Company shall be two million dollars, and may be called up by the directors from time to time as they deem necessary, but no one call shall exceed ten per cent on the shares subscribed. 8. The annual meeting of the shareholders shall be held on the first Tuesday in September in each year. 9. At such meeting the subscribers for the capital stock assembled, who have paid all calls due on their shares, shall choose five persons to be directors of the Company, one or more of whom may be paid directors. 10. The Company may issue bonds, debentures or other securities to the extent of thirty-five 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. 11. The Company may issue the bonds, debentures or other securities authorized to be issued by this Act, separately with respect to any specified section of its railway or branch or extension of its railway, or as to certain sections thereof combined, or on the whole line of the railway of the Company; and such bonds, debentures or other securities, if so issued, shall, subject to the provisions contained in section ninety-four of The Rail- 1888, c. 29. way Act, form a first charge upon and be limited to the particular section, branch or extension in respect to which the same are thus respectively issued, and upon the rents and revenues thereof and upon all the property of the Company appertaining to or belonging to such section, branch or exten sion. company. 12. The Company may enter into an agreement with the Agreement Kaslo and Slocan Railway Company, or the Canadian Pacific with another Railway Company, for conveying or leasing to such company its railway in whole or in part or any rights or powers acquired under this Act, as also the surveys, plans, work, plant, material, machinery, franchises and other property to it belonging, or for an amalgamation with any of the said companies on such terms and conditions as are agreed upon, and subject to such restrictions as to the directors seem fit; provided that such agreement has first been approved by two- Approval of thirds of the votes at a special general meeting of the share- shareholders holders called for the purpose of considering the same-at in Council. 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; and Governor sanction. 2. Such sanction shall not be signified until after notice of Notice of apthe proposed application therefor has been published in the plication for manner aud 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 electoral districts through which the railway of the Company runs, and in which a newspaper is published. Parliament as to future 13. Any Act hereafter passed for the purpose of controlling Power of railway companies incorporated by or subject to Parliament as to the issuing of stock or bonds, and as to rates or tolls and legislation. 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 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. 49. An Act respecting the Lake Manitoba Railway and [Assented to 29th June, 1897.] WHEREAS the Lake Manitoba Railway and Canal Com- Preamble. pany has petitioned for the confirmation of a certain agreement with the Manitoba and North-western Railway Company of Canada, and also for the confirmation of the mortgage securing the bonds of the said Company and for power to issue land grant and other bonds, to extend its railway to the River Saskatchewan, and to construct a branch to Shell River 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 agreement, a copy of which is set out in schedule Agreement A to this Act, is hereby confirmed and ratified, and declared confirmed. to be and to have been legal, valid and binding upon the parties thereto respectively, to the same extent and in the same manner as if the said agreement were set out and indicated as part of this Act, and each of the parties thereto respectively may do whatever is required to give effect to the substance and intention of the said agreement, and may agree to renew and extend the same. confirmed. 2. The mortgage, a copy of which is set out in schedule Mortgage B to this Act, and the bonds and debentures secured thereby, are hereby sanctioned and confirmed, and declared to be binding as therein expressed. bonds, etc. 3. The Lake Manitoba Railway and Canal Company, here- Power to issue inafter called "the Company," may issue bonds, debentures, or other securities, secured as follows :— (a.) By mortgage upon any lands granted to the Company, By mortgage in aid of the said railway, by the Dominion of Canada, the on lands. province of Manitoba, or any municipality; (b.) Bonds secured by mortgage second to the mortgage By second forming schedule B to this Act; mortgage. |