« EdellinenJatka »
Branch lines 1888, c. 29.
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, elevators and vessels,
for the purposes of its business, build, equip and operate docks
and elevators, and steam and other vessels, and may collect Charge
wharfage and storage charges for the use of its wharfs and storage,
buildings, and may, in connection with its railway, convey Convey pas
passengers and freight, between ports in Canada and ports sengers and outside of Canada, and may carry on a general transportation freight.
service in connection with the said railway and may sell and
dispose of such vessels. Provisional 6. The persons mentioned by name in the first section of directors.
this Act are hereby constituted provisional directors of the Company.
sital stock led up by no one cal
Capital stock and calls thereon.
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.
Election of directors.
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.
Amount of bonds, etc., limited.
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.
Issue of bonds. 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 extension.
and vided the vote for the hola
12. The Company may enter into an agreement with the Agreement Kaslo and Slocan Railway Company, or the Canadian Pacific with another
company. 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
and Governor 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 ;
2. Such sanction shall not be signified until after notice of Notice of apthe proposed application therefor has been published in the plication for
sanction. 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.
13. Any Act hereafter passed for the purpose of controlling Power of railway companies incorporated by or subject to Parliament as a
Parliament 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.
(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 :
lanskatchewan; forth, and it ise lier Maj
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.
2. The mortgage, a copy of which is set out in schedule Mortgage
confirmed. B to this Act, and the bonds and debentures secured thereby," are hereby sanctioned and confirmed, and declared to be binding as therein expressed.
3. The Lake Manitoba Railway and Canal Company, here- Power to issue
bonds, etc. 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 o province of Manitoba, or any municipality ;
(b.) Bonds secured by mortgage second to the mortgage By second forming schedule B to this Act;
Proviso. 1892, c. 41. 1888, c. 29.
(c.) Bonds secured by the said lands and by mortgage second to the mortgage forming the said schedule B.
Provided that the total issue of the Company's bonds shall not exceed the amount limited by chapter forty-one of the statutes of 1892; and that sections ninety-three and ninetyfour of The Railway Act shall apply to the issue of such bonds.
Line of railway described.
4. The Company may lay out, construct and operate a railway of the gauge of four feet eight and one-half inches from its present terminus, running in a northerly direction to the south bank of the River Saskatchewan, to a point between Cedar Lake and Cumberland House; and may build a branch from a point on the Company's main line, at or near the town of Dauphin, through the Gilbert Plains, and thence by the most practicable route to the Shell River : Provided however, that the location of the line shall be subject to the approval of the Governor in Council.
Approval of Governor in Council.
Time limited for construction of railway.
5. If the railway described in section four of this Act is not commenced within two years and if the line is not finished and put in operation within five years from the passing of this Act, then the powers granted by this Act shall cease and be null and void as respects so much of the railway as then remains uncompleted.
Power of Parliament as to future legislation.
of stoctreof, anan the
6. Any Act hereinafter passed for the purpose of controlling railway companies incorporated by or subject to Par. liament 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 Company from the time such Act goes into effect; but this section shall not be construed to imply that such Act would not apply to the Company without the enactment of this section.
SCHEDULE A. This AGREEMENT made this first day of August one thousand eight hundred and ninety-six between The Manitoba and North Western Railway Company of Canada, hereinafter called “ The North Western Company” of the first part;
Francis Douglas Grey of East Sheen, in the county of Surrey, England, Lieutenant-Colonel and Sir John Robert Heron-Maxwell Baronet of Hamilton House Tooting in the county of Surrey, England, the trustees under the deed of mortgage dated the sixteenth day of April, one thousand eight hundred and eighty-six, securing certain bonds issued by the North Western Company hereinafter called “The bondholders' trustees” of the second part ;
hundredestern Comond part ; 50