51. The provisions of this agreement shall extend to and be binding upon the successors and assigns and executors and administrators of the respective parties hereto but no trustee party hereto shall be deemed to have assumed any personal responsibility by reason of his having been made a party to this agreement and having executed the same. 52. An application shall be made on behalf of all parties to this agreement to the Parliament of Canada for an Act to ratify and confirm this agreement and the parties hereto hereby covenant that they will assist and promote in every way in their power such application and the obtaining of the passage of the said Act. IN WITNESS WHEREOF this agreement has been duly sealed and executed by the parties hereto. Signed sealed and delivered) THE MANITOBA & NORTH WESTERN RAILWAY CO'Y OF CANADA. in the presence of Witness as to signature of II. MONTAGU ALLAN. [LS.] [L.S.] Witness as to signature of H. MONTAGU ALLAN. [L.S.] [L.S.] F. J. MCCLURE. Trustees, Estate late Arthur E. Allan. [L.S.] FOR THE LAKE MANITOBA RAILWAY AND CANAL CO'Y. Witness Z. A. LASHI. FREDERIC NICHOLLS, President. CHAS. E. L. PORTEOUS, The within agreement is authorized approved and sanctioned and Messieurs George Hague and William Miller Ramsay the debenture stockholders trustees referred to therein are hereby authorized and directed to execute the said agreement for the purpose of consenting to and confirming the same as such trustees. At a meeting of the holders of the first mortgage bonds of the Manitoba and North Western Railway Company of Canada secured on the first division of 180 miles of the Company's railway held at the Cannon Street Hotel in the city of London on the 15th July 1896 at which holders of bonds to the extent of £479,000 were present either in person or by proxy which meeting had been duly called pursuant to the terms of the mortgage securing such first mortgage bonds the following resolution was passed : "Resolved that after having heard the explanation of the agreement signed in Canada between the Manitoba and North-western Railway Company of Canada of the first part Francis Douglas Grey and Sir John Robert Heron Maxwell of the second part George Hague and William Miller Ramsay of the third part H. Montagu Allan of the fourth part Augustus Meredith Nanton of the fifth part Andrew Allan H. Montagu Allan and Bryce J. Allan as individuals and II. Montagu Allan and Andrew A. Allan trustees of the estate of Arthur E. Allan of the sixth part and the Lake Manitoba Railway and Canal Company of the seventh part and after hearing the recommendations of the committee appointed at a meeting of bondholders held at the Cannon Street Hotel on the 14th day of June 1893 it is resolved that the said agreement be approved and that the trustees be requested and authorized to sign the same behalf of the bondholders. same on "Resolved that the trustees be authorized to make an application to the court by originating summons to confirm the above resolution and authorize their signature to the said agreement as above mentioned. "F. D. GREY, "Chairman of the meeling." SCHEDULE B. THIS INDENTURE, made the first day of August, in the year of our Lord, one thousand eight hundred and ninety-six, between The Lake Manitoba Railway and Canal Company, a body corporate and politic, duly incorporated, and subject to the legislative authority of the Parliament of Canada, hereinafter called "the Company," of the first part: The Honourable Thomas Greenway, of the city of Winnipeg, Railway Commissioner of the Province of Manitoba, and the Honourable Robert Watson, of the same place, Minister of Public Works of the said Province of Manitoba, and their successors in the trust, hereinafter called "the Trustees," of the second part; and Her Majesty the Queen, hereinafter called "the Government," and herein represented and acting by the railway commissioner of the Province of Manitoba, of the third part: Whereas, by Acts of the Parliament of Canada, being chapter 41 of the statutes of 1892 and chapter 52 of the statutes of 1895, the Company is empowered, among other things, to lay out, construct and operate the line of railway hereinafter mentioned, with respect to which the bonds hereinafter mentioned are issued; And whereas, the Company proposes forthwith to proceed with the construction of such railway, and it is necessary to issue its bonds for the purpose of raising money for prosecuting its undertaking; And whereas, by an Act of the legislature of Manitoba intituled "An Act to amend an Act respecting Aid to Railways," and being chapter 10 of the statutes of Manitoba for the year 1896, it was made lawful for the government, on such terms and conditions as might be agreed upon with the Company, to aid and assist the construction of a line of railway by the Company from a point in or near the town of Portage la Prairie or in or near the town of Gladstone or from some point on the line of the Manitoba and North Western Railway VOL. II-5 Company which may be authorized by the charter of the Company, running in a northerly or north-westerly direction west of Lake Manitoba to a point west of Lake Dauphin, or passing west of Lake Dauphin to a point at or near Lake Winnipegosis, in the Province of Manitoba, by guaranteeing the principal and interest of first mortgage bonds of the Company to the amount of eight thousand dollars per mile of such railway, bearing interest at the rate of four per centum per annum, for a term of thirty years from the date of the issue of the said bonds, and by exempting the Company, its property and franchises, from taxation during the period of such guarantee; such bonds and the interest thereon to be a first charge upon the line of railway, and the franchises of the Company, and the rolling stock, tolls and revenues of the said line of railway (other than any aid to which the Company may be or become entitled from the government of Canada) in pursuance of the Act of incorporation of the Company and the general Railway Act of Canada; And whereas, by the said Act it is further provided that the guarantee upon the bonds of the Company authorized by the said Act, in order to be valid and binding, shall be endorsed upon each guaranteed bond in the following form, namely: "The principal sum secured by the within bond and interest thereon, payable semi-annually, for thirty years, at the rate of four per centum per annum, is hereby guaranteed by the government of Manitoba;" and that such guarantee shall be signed by the provincial treasurer, and that the government shall thereafter be liable to pay the principal and interest of the said bonds, according to the tenor thereof; And whereas, in pursuance of the said Act, an agreement dated May 7th, 1896, and a supplementary agreement thereto were entered into between the government and the Company, whereby the Company agreed to construct, or cause to be constructed and completed, a line of railway from a point to be selected by the Company in or near the town of Gladstone on the line of the Manitoba and North Western Railway, thence in a northerly or north-westerly direction running west of Lake Manitoba to a point to be selected by the Company west of Lake Dauphin or passing west of Lake Dauphin to or near Lake Winnipegosis; the said line, if begun at or near Gladstone, to be not more than one hundred and twenty-five miles in length; and whereby the government agreed to guarantee the payment of the principal and interest of the first mortgage bonds of the Company to the extent of eight thousand dollars per mile for said one hundred and twenty-five miles of the line of railway so contracted to be constructed; And whereas, the said agreement of May 7th, 1896, provided that in the event of the failure of the Manitoba and North Western Railway Company of Canada, to make a certain contract with the Company for the exercise of running powers by the Company over that portion of the said the Manitoba and North Western Railway Company's line of railway between a point at or near Gladstone and a point at or near Portage la Prairie satisfactory to the government; the Company might begin its line of railway at the town of Portage la Prairie and extend the same northerly or northwesterly to the neighbourhood of Gladstone, and thence northerly or north-westerly upon the route above set out; And whereas, the said Manitoba and North Western Railway Company of Canada have entered into the necessary contract with the Company satisfactory to the government for the exercise of said running powers, which contract bears date the first day of August, A. D. 1896, and is made between the said the Manitoba and North Western Railway Company of Canada, of the first part; Francis Douglas Grey and Sir John Robert Heron Maxwell, therein called the bondholders' trustees, of the second part; George Hague and William Miller Ramsay, therein called the debentures stockholders' trustees, of the third part; H. Montagu Allan, receiver of the undertaking, and assets of the said the Manitoba and North Western Railway Company of Canada, of the fourth part; Augustus Meredith Nanton, receiver of the revenues, et cætera, of the first division of the last named company's railway and telegraph, of the fifth part; Andrew Allan, H. Montagu Allan aud Bryce J. Allan as individuals, and H. Montagu Allan and Andrew A. Allan, trustees of the estate of Arthur E. Allan, thereinafter called the execution creditors of the sixth part; and the Company of the seventh part; and which contract is hereinafter referred to as "The Running Powers Agreement." And whereas, by the said agreement with the government, it is declared that the mortgage to be given to secure the bonds so to be guaranteed by the government, shall not apply to any other portion of the Company's railway except that aided by the government under the provisions of the said agreement, and that the receipts or earnings applicable to the part so aided, shall not under any circumstances be chargeable as against the bondholders, the trustees for the bondholders, or the government, with any working expenses, operating expenses, repairs or cost of maintenance incurred or to be incurred, or arising in respect of any other portion of the railway except that which is aided, and which is comprised in the mortgage securing the said bonds: And whereas, by the said agreement it is provided that the mortgage securing the said bonds shall be in such form as shall be satisfactory to the government: And whereas, pursuant to and under the authority of the Acts of the Parliament of Canada, being chapter 8 of the statutes of 1895 and chapter 81 of the statutes of 1891, the government of the Dominion of Canada, for the purpose of aiding the Company in the construction of its said line of railway, entered into a contract with the Company, dated the fifth day of February, 1896, and agreed upon the terms and |