construct and operate a branch line from or near such crossing of the Assiniboine river in a south-easterly direction to the city of Brandon, in the said Province, and also a branch line. from the town of Binscarth on the line of the Manitoba and North-Western Railway south-westerly through Fort Ellis and Moosomin to the Souris coal fields; and such undertaking is hereby declared to be for the general advantage of Canada. 4. The Company may also acquire, build, own, charter, work Steam vesse and run steam and other vessels for cargo and passengers upon any navigable waters which the railway of the Company reaches. 5. The Company may accept, purchase and hold such land Elevators, as is required for the purposes of elevators, docks and other docks, &c. erections for the uses of the Company, and may erect and operate elevators and docks. same. 6. The Company may mortgage or pledge their vessels, Mortgage o elevators, docks and other erections, and redeem and re-mortgage the same as they deem advisable. 7. The persons mentioned by name in the first section of Provisional this Act are hereby constituted provisional directors of the directors. Company. and calls. S. The capital stock of the Company shall be one million Capital stock 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. al meeting. 9. The annual general meeting of the shareholders shall Annual gen be held on the first Wednesday in September, in each year. 10. At such meeting the subscribers for the capital stock Number of assembled who have paid all calls due on their shares shall directors. choose seven persons to be directors of the Company,-one or more of whom may be paid directors of the Company. 11. The Company may issue bonds, debentures or other Bonds, &c. securities, to the extent of twenty thousand dollars per mile of the line of railway and its 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. with another 12. The Company may enter into an agreement with the Agreements Canadian Pacific Railway Company, the Winnipeg and company. Hudson Bay Railway Company, the Manitoba and North Western Railway Company of Canada, the Great North West Central Railway Company, or the Wood Mountain and Qu'Appelle Railway Company, for conveying or leasing to such company the railway of the Company hereby incorporated, in whole or in part, or any rights or powers acquired under this Act, as also the surveys, plans, works, plant, material, machinery and other property to it belonging, or for an amalgamation with such company, 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 been first sanctioned by two-thirds of the votes at a special general meeting of the shareholders duly called for the of considering the same,-at which meeting sharepurpose holders representing at least two-thirds in value of the stock And of Gover- are present in person, or represented by proxy,-and that such nor in Council. agreement has also received the approval of the Governor in Sanction by the sharehold ers. Notice of ap approval. Council: 2. Such approval shall not be signified until after notice of plication for 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 the district of Assiniboia, and in one newspaper in each of the counties in the Province of Manitoba through which the railway of the Company hereby incorporated runs, and in which a newspaper is published. OTTAWA Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most CHAP. 61. An Act to incorporate the Atikokan Iron Range Railway Company. Assented to 31st July, 1891.] HEREAS a petition has been presented praying for the Preamble. incorporation of a Company to construct and operate a railway as hereinafter set forth and for other purposes, 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: tion. Thomas Marks, George Thomas Marks, Harold Andrew IncorporaWiley, William West Russell and William Kenneth Cameron, together with such persons as become shareholders in the Company hereby incorporated, are hereby constituted a body corporate under the name of "The Atikokan Iron Range Corporate Railway Company," hereinafter called the Company. name. 2. The head office of the Company shall be at the town of Head office. Port Arthur, in the Province of Ontario. way describ ed. 3. The Company may lay out, construct and operate a Line of railrailway of the gauge of four feet eight and one-half inches, in w the provisional judicial district of Thunder Bay (including the territorial district of Rainy River), in the Province of Ontario, from a point on the line of the Canadian Pacific Railway Company between Carlstadt and English River, by way of Atikokan and Seine Rivers, to a point at or near Sturgeon Falls; and the undertaking hereby authorized is declared to be a work for the general advantage of Canada. water lots, 4. The Company, at any point where its railway or any Powers as to branch thereof, or where any railway or any branch thereof docks, &c. over which the Company's railway has running powers, touches or crosses any navigable waters, and on the Kaministiquia river, in the municipality of Neebing, and elsewhere on its line of railway, and on Thunder bay at Port Arthur, Issue of bonds for water lots, docks, &c. Mortgage deed to secure bonds. and elsewhere on its line of railway, may, for the purposes of its business, acquire and hold water lots, build, construct, acquire, hire and operate ore docks and other docks and wharves, and steamships and other vessels for carrying passengers and freight, and may mortgage collectively or separately the said water lots, docks and wharves, steamships and other vessels; and may collect wharfage, store charges, freight and other dues, earnings and incomings to be derived from the use of its property, steamships and other vessels, works and buildings, and in its business; and the Company may also acquire, hold, operate, sell, mortgage, convey and otherwise dispose of iron and other mines and mining lands in the said district of Thunder Bay : provided always, that the Company shall not buy, lease or acquire more than fifteen thousand acres of such lands; and the Company may erect, acquire, operate, mortgage or lease smelting and other works for the reduction of iron and other ores. and refining and working of metals and minerals in the said district of Thunder Bay. 5. The Company, being first authorized by a resolution passed at a special general meeting of the shareholders duly called for the purpose, may, from time to time, issue bonds in aid of the acquisition of the said water lots, docks, wharves, steamships and other vessels, not exceeding in amount the cost thereof; and the proceeds of such bonds shall be applied exclusively in aid of the acquisition by purchase or construction of such water lots, docks, wharves, steamships and other vessels, as the case may be, according to the terms and intention of such resolution; and each such resolution shall indicate by some general description the water lots, docks, wharves or steamships or other vessels, in respect of which it authorizes bonds to be so issued as aforesaid, and whether the same are then acquired or are to be thereafter acquired by the Company. 6. For the purpose of securing each issue of such bonds. the Company shall execute a deed of mortgage, in such form and containing such provisions as are approved by a resolution of such general meeting of shareholders as aforesaid,-each of which deeds shall be made to trustees to be appointed at such special general meeting for that purpose, and may contain provisions establishing the amount secured upon the water lots, docks, wharves, steamships or other vessels to which it relates, the rank and privilege to appertain to the bonds intended to be secured by it, the rights and remedies to be enjoyed by the respective holders of such bonds, the mode of assuring the application of the proceeds of such bonds to the purposes for which they are to be issued, the rate of interest payable upon them and the place and time of payment of such interest and of the capital thereof, the creation of a sinking fund for the redemption of such bonds, and all the conditions, provisions and restrictions requisite for the effectual carrying out of the terms thereof, and for the protection of the holders of such bonds; and it may charge and bind the tolls and revenues of the said water lots, docks, wharves, steamships or other vessels to which it relates, and the whole or any part of any subsidy to be earned in connection therewith (but not the railway proper or the tolls and revenues thereof) in the manner and to the extent therein specified; and each such deed of mortgage shall create absolutely and exclusively a lien and encumbrance according to its priority on the water lots, docks, wharves, steamships or other vessels, as the case may be, therein described, as well as their tolls, revenues and subsidy therein hypothecated, the whole for the benefit of the holders of the bonds in respect to which it is made. 7. Each issue of bonds intended to be secured by any one Ranking of of the mortgage deeds referred to in the next preceding section bondholders. shall entitle the respective holders thereof to rank with each other pari passû; and a duplicate of such deed shall be deposited and kept in the office of the Secretary of State of Canada. directors. 8. The persons mentioned by name in the first section of Provisional this Act are hereby constituted provisional directors of the Company: 2. If any provisional director dies or resigns his office before Vacancies. the first general meeting of the Company, the vacancy may be filled by the remaining provisional directors. 9. The capital stock of the Company shall be five hundred Capital stock. thousand 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. 10. The annual general meeting of the shareholders shall Annual meetbe held on the first Monday in August in each year. ing. 11. At such meeting the subscribers for the capital stock Election of assembled, who have paid all calls due on their shares, shall directors. choose not less than seven nor more than nine persons to be directors of the Company,-one or more of whom may be paid directors of the Company. 12. The Company may, in addition to the bonds and other Further issue securities before in this Act referred to, issue bonds, deben- of bonds, &c. tures or other securities to the extent of twenty thousand dollars per mile of the railway and its branches; and such bonds, debentures or other securities may, in respect of the railway, be issued only in proportion to the length of railway constructed or under contract to be constructed. 13. The Company may enter into an agreement with the Company may Canadian Pacific Railway Company for conveying or leasing its railway to VOL. II-2 17 convey or lease to the C. P. R. |