Parliament as 11. Any Act hereafter passed for the purpose of con- Power of trolling railway companies incorporated by or subject to Par- to future liament as to the issuing of stock or bonds, and as to rates or legislation. 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. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. CHAP. 56. An Act to incorporate the Montreal and Southern [Assented to 29th June, 1897.] 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 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, declares and enacts as follows: tion. 1. The Honourable Trefflé Berthiaume, Henry Hogan, Fran- Incorporaçois Joseph Bisaillon, Trefflé Bastien, Charles Berger and Maurice Perrault, all of the city of Montreal, S. T. Willet, of Chambly Canton; Alexander Macdonald, Raoul Aubé and J. Emery Molleur, of the town of St. Johns, Quebec; Albert J. Corriveau, of the town of Iberville; and Charles Huguet, of the city of Paris, France, together with such persons as become shareholders in the company hereby incorporated, are hereby constituted a body corporate under the name of "The Corporate Montreal and Southern Counties 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 in the city of Head office. Montreal. railway 4. The Company may lay out, construct and operate, by Line of electricity or any other mechanical power except steam, a rail- described. way of the gauge of four feet eight and one-half inches from a point in or near the northern limit of the county of Chambly, in the province of Quebec, thence through the counties of Chambly, Verchères, Rouville, St. Hyacinthe, Laprairie, St. Johns, Iberville, Missisquoi, Brome, Shefford, Stanstead and Sherbrooke to a point in or near the city of Sherbrooke. Provisional directors. Capital stock and calls thereon. Annual meeting. Election of directors. Amount of bonds, etc., limited. Agreements with another company. 5. The persons mentioned by name in the first section of this Act are hereby constituted provisional directors of the Company. 6. The capital stock of the Company shall be five hundred 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. 7. The annual meeting of the shareholders shall be held on the last Thursday of the month of September in each year. 8. At such meeting the subscribers for the capital stock assembled, who have paid all calls due on their shares, shall choose not less than five and not more than twelve persons to be directors of the Company, one or more of whom may be paid directors. 9. The Company may issue bonds, debentures or other securities to the extent of twenty thousand dollars per mile of its railway and branches; and such bonds, debentures or other securities may be issued only in proportion to the length of the railway constructed or under contract to be constructed. 10. The Company may enter into an agreement with the Montreal Bridge Company, the Grand Trunk Railway Company of Canada, the Canadian Pacific Railway Company, the Montreal Park and Island Railway Company, the Montreal Island Belt Line Railway Company, the Chambly Hydraulic Power Company, the Montreal and Province Line Railway Company, the Phillipsburg Junction Railway Company, the United Counties Railway Company, the South Shore Railway Company, the Central Vermont Railroad Company, the Missisquoi and Black River Valley Railway Company, or the Eastern Richelieu Valley 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 franchises, surveys, plans, works, plant, material, machinery and property to it belonging, or for an amalgamation with such company, on such terms and conditions as are agreed upon, and subject to such restricApproval by tions as to the directors seem fit; provided that such agreement has been first approved by two-thirds of the votes at a special general 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 or represented by proxy,-and that such agreement has also received the sanction of the Governor in Council. shareholders and Governor in Council. Notice of application for sanction. 2. Such sanction shall not be signified until after notice of 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 each of the counties through which the railway of the Company runs, and in which a newspaper is published. 11. The Railway Act and any Act amending it shall extend 1888, c. 29. and apply to the Company and its undertaking. struction, 12. If the construction of the railway is not commenced Time for conand fifteen per cent on the amount of the capital stock is not limited. expended thereon within two years after the passing of this Act, or if the railway is not finished and put in operation in five years after the passing of this Act, then the powers granted for such construction shall cease and be null and void as respects so much of the railway as then remains uncompleted. 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; but this section shall not be construed to imply that such Act would not apply to the Company without the enactment of this section. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. |