10. The annual general meeting of the shareholders shall be Annual generheld on the second Monday in September in each year. al meeting. directors. 11. At such meeting the subscribers for the capital stock Election of assembled, who have paid all calls due on their shares, shall choose seven persons to be directors of the Company,-one or more of whom may be paid directors of the Company. 12. The Company may issue bonds, debentures or other Issue of bonds. securities to the extent of twenty thousand dollars per mile of the railway and branches, either exclusive or inclusive of a railway bridge over the Ottawa River, constructed as part thereof, and secured by a deed of mortgage describing clearly the property charged as security for such bonds or debentures; and such bonds, debentures or other securities may be issued Series A. only in proportion to the length of railway constructed or under contract to be constructed, and shall be designated as "Series A;" and in addition thereto bonds to an amount not exceeding two hundred thousand dollars for the bridge, if so excluded from such charge, may be issued in aid of the construction of such bridge, and such bonds shall be designated Series B. as "Series B": bonds on 2. The bonds on the bridge shall, in like manner, be secured Security of by a deed of mortgage specifying the security therefor; and bridge. such deed of mortgage may contain provisions that all tolls and revenues derived from the use of such bridge by other corporations or persons shall be specially charged and pledged as security for such bonds, and may also provide that the Company shall pay to the trustees of such mortgage similar rates and tolls to those fixed for the use of such bridge by similar corporations, -which rates and tolls shall also be charged as security for such bonds. with another Railway Co. 13. The Company may, subject to the provisions contained Agreement in sections six and seven of this Act, enter into an agreement with the Canadian Pacific Railway Company, the Pontiac Pacific Junction Railway Company, or the Kingston and Pembroke Railway Company, for conveying or leasing to such company the railway and bridge 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 Approval regeneral 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 in person or represented by proxy,-and that such agreement has also received the approval of the Governor in Council : quired. Notice of application for approval. Time for construction of bridge. 2. Such approval shall not be signified until after notice of the proposed application there for 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 hereby incorporated runs, and in which a newspaper is published. 14. The bridge shall be commenced within three years and completed within five years from the passing of this Act; otherwise the powers granted under section four of this Act shall cease and be null and void. OTTAWA: Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most CHAP. 67. An Act to incorporate the Ontario and New York [Assented to 31st July, 1891.] WHEREAS a petition has been presented praying for the Preamble. incorporation of a Company to construct and operate a bridge, 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 Honourable Sir Donald A. Smith, William C. Van IncorporaHorne, Richard B. Angus and Thomas G. Shaughnessy, tion. Esquires, all of Montreal; George Ropes Harris, Esquire, of Boston; Edmund B. Osler, Rupert M. Wells and Thomas Tait, Esquires, all of Toronto; and the Honourable Donald MacInnes, of Hamilton; together with such persons as become shareholders in the Company hereby incorporated, are hereby constituted a body corporate under the name of "The Ontario Corporate and New York Bridge Company," hereinafter called the name. Company. 2. The head office of the Company shall be in the city of Head office. Toronto, or such other place in Canada as the directors from time to time determine by by-law. 3. The Company may lay out, construct, complete, main- Bridge over tain, work, manage and use a railway bridge, with the neces- Niagara river. sary approaches, over the Niagara river, from some convenient point on the Canadian side at or near the town of Niagara Falls, to a point on the American side, and may connect the same with any railway or railways on either side of the said river; but the Company shall not commence the actual erection Conditions of the said bridge until an Act of the Congress of the United precedent to States, or an Act of the Legislature of the State of New York, has been passed authorizing or approving the bridging of the said river as aforesaid, nor until the Executive of the United construction. Approval of plans by Gov cil. States has consented to and approved such bridging; but the Company may, in the meantime, acquire the lands, submit their plans to the Governor in Council, and do all other things authorized by this Act, except the commencement of the actual construction or erection of the bridge. 4. The Company shall not commence the bridge or any ernor in Coun. Work thereunto appertaining, until it has submitted to the Governor in Council plans of such bridge and of all the intended works thereunto appertaining, nor until the plans and site of such bridge have been approved by the Governor in Council, and such conditions as he thinks fit for the public good to impose touching the said bridge and works have been complied with; nor shall any such plans be altered, or any deviation therefrom allowed, except upon the permission of the Governor in Council, and upon such conditions as he imposes. Co-operation. With Company in United States. With Company in Canada. No discri mination in use of bridge. 5. The Company may, after obtaining the sanction of the Governor in Council in the manner provided in section two hundred and thirty-nine of "The Railway Act," and subject to the provisions contained in sections six and seven of this Act (a.) Unite with any other company incorporated in and under the laws of the State of New York or of the United States, in building the bridge and its approaches, and in working, managing, maintaining and using the same, and may enter into any agreement with such company respecting the construction, maintenance, management and use of the said bridge and its appurtenances; (b.) Unite with any other company incorporated under the laws of Canada or of the Province of Ontario, or with any body corporate, in building the said bridge and approaches and in maintaining, working, managing and using the same, and may enter into any agreement with such company or corporation respecting the construction, maintenance, management and use thereof. 6. So soon as the bridge is completed and ready for traffic, all trains of all railways connecting with the same, either in Canada or the United States, now constructed or hereafter to be constructed, and also the trains and cars of all companies whose lines connect with the line of any company so connecting with the said bridge and approaches, shall have and be entitled to the same and equal rights and privileges in the passage of the said bridge, so that no discrimination or preference in the passage of the said bridge and approaches, or in tariff rates for transportation, shall be made in favour of or against any railway whose trains or business pass over the said bridge. 7. In case of any disagreement as to the rights of any rail- Disputes adjusted by way company whose trains or business pass over the bridge, or Railway Comas to the tariff rates to be charged in respect thereof, the same mittee. shall be determined by the Railway Committee of the Privy Council as provided in section eleven of "The Railway Act." bridge. 8. In case the State of New York or the United States International commissionat any time provide for the appointment of a commission for ers to regulate regulating the working of the bridge, the use thereof and the working of compensation to be made therefor, and for settling any dispute in respect thereof, the Governor in Council may join in the appointment of the said commission on such terms as he thinks proper, and appoint one or more persons as members of the said commission; and the decisions of the said commission shall first be submitted to the Governor in Council, and if approved of shall thereafter be final and conclusive to the extent to which the same are final and conclusive by virtue of the provisions made by the State of New York or the United States. 9. The persons mentioned by name in the first section of Provisional this Act are hereby constituted provisional directors of the directors. Company. 10. The capital stock of the Company shall be one million Capital stock dollars, and may be called up by the directors from time to and calls. time as they deem necessary; but no one call shall exceed ten per cent on the shares subscribed. 11. The annual general meeting of the shareholders shall Annual genbe held on the second Wednesday in September of each year. eral meeting. 12. At such meeting the subscribers for the capital stock Election of assembled, who have paid all calls due on their shares, shall directors. choose seven persons to be directors of the Company,-three of whom shall be a quorum for the transaction of business, and Quorum. one or more of whom may be paid directors of the Company. tures. 13. The Company may issue bonds, debentures or other Issue of debensecurities to an amount not exceeding one million dollars in aid of the construction of the bridge; and such bonds may be secured by a deed of mortgage; and such deed of mortgage may contain provisions that all tolls and revenues derived from the use of such bridge by other corporations or persons shall be specially charged and pledged as security for such bonds, and may also provide that the Company shall pay to the trustees of such mortgage similar rates and tolls to those fixed for the use of the bridge by similar corporations,-which rates and tolls shall also be charged as security for such bonds. |