CHAP. 59. An Act respecting the Quebec, Montmorency and [Assented to 29th June, 1897.] HEREAS the Quebec, Montmorency and Charlevoix Preamble. Railway Company has, by its petition, prayed for the passing of an Act for the purposes hereinafter mentioned, 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: amended. 1. Section five of chapter fifty-nine of the statutes of 1895 1895, c. 59, s. 5 is hereby repealed, and the following substituted therefor :"2. The capital stock of the Company shall be three million Capital stock. dollars, divided into shares of one hundred dollars each." amended; 2. The proviso beginning on line seven of subsection one of Section 21 section twenty-one of the said Act, the whole of subsection section 22 two of the said section, and the whole of section twenty-two repealed. of the said Act, are hereby repealed and the following substituted therefor respectively : "Provided that in the event of the Company acquiring Issue of bonds. the property of the Montmorency Electric Power Company, as provided for in subsection three of section fifteen of this Act, the Company may make and issue bonds, debentures or other securities to an amount not exceeding four million dollars, made up of the following, that is to say: an issue at the said mileage rate for at least seventy-five miles of the portions of its railway described in section twenty-three of this Act then constructed or under contract to be constructed, and the balance of the said issue of four million dollars to be in respect of the purchase of the property of the said Power Company and of the development and improvement thereof and of the other property of the Company.' "2. The directors of the Company, or trustees of the mort- Application of gage deed, if any, securing such bonds, debentures or other proceeds of securities as the case may be, shall, before any of such bonds Section 23 amended. Alternative division of line into sections. Montmorency] division. Citadel division. Saguenay division. Montmorency-Citadel division. Saguenay division. Power of Parliament as to future legislation. or the proceeds thereof are applied to any other purpose, first apply such portion of the proceeds of the first issue of bonds made under this Act as may be necessary in payment or redemption of any interim or other bonds heretofore issued by the Company, and next in payment of all other recognized indebtedness of the Company.' 3. Section twenty-three of the said Act is hereby amended by adding the following subsection thereto : "2. Provided that in the event of the Company acquiring the property of the Montmorency Electric Power Company, as provided for in subsection three of section fifteen of this Act, the sections into which the Company may divide its undertaking shall, instead of those mentioned in subsection one hereof, be as follows, that is to say, either- "First-(a.) The lines from the terminal station in the lower town in the city of Quebec extending to Cap Tourmente, including all the branches and extensions thereof, shall be designated and known as section number one, or the 'Montmorency Division.' "(b.) The lines within the city of Quebec subject to its franchise, and those west of the St. Charles River operated by electricity, and the works, buildings, plant and machinery acquired from the Montmorency Electric Power Company shall be designated as section number two, or the 'Citadel Division,' 66 "(c.) The lines extending from Cap Tourmente in a northeasterly direction, shall be designated as section number three, or the 'Saguenay Division.' "Or Second-(a.) The lines from the terminal station in the lower town in the city of Quebec extending to Cap Tourmente, including all the branches and extensions thereof; the lines within the city of Quebec subject to its franchise, and those west of the St. Charles River operated by electricity, and the works, buildings, plant and machinery acquired from the Montmorency Electric Power Company, shall be designated and known as section number one, or the 'Montmorency-Citadel Division.' "(b.) The lines extending from Cap Tourmente in a northeasterly direction shall be designated as section number two, or the Saguenay Division."" 4. Any Act hereafter passed for the purpose of controlling railway companies incorporated by or subject to Parliament 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 Quebec, Montmorency and Charlevoix Railway 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 said Company without the enactment of this section. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. CHAP. 60. An Act to amend the Acts relating to the Red Deer [Assented to 29th June, 1897.] WHEREAS the Red Deer Valley Railway and Coal Com- Preamble. pany, hereinafter called "the Company," have by their 1889, c. 52; petition prayed for the passing of an Act to amend the Acts 1891, c. 76. relating to the Company in the manner hereinafter mentioned 1894, c. 90. and to extend the time for the commencement and completion of the railway of the Company, 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. Chapter ninety of the statutes of 1894 is hereby repealed. 1894, c. 90 repealed. mencement 2. The time for the commencement of the construction of Time for comthe railway and for the expenditure thereon of fifteen per and comple cent of the capital stock, is hereby extended for two years from tion extended. the first day of July, one thousand eight hundred and ninetyseven; and the time for the finishing and putting in operation of the railway is hereby extended for four years from the said date; and if the construction of the railway is not commenced and fifteen per cent of the capital stock is not expended thereon by the first day of July, one thousand eight hundred and ninety-nine, or if the railway is not finished and put in operation by the first day of July, one thousand nine hundred and one, then the powers granted by The Railway Act and this Act shall cease and be null and void as respects so much of the railway as then remains uncompleted. amended. 3. Section three of chapter fifty-two of the statutes of 1889, 1889, c. 52, s. 3 the Act incorporating the Company, is hereby amended as follows: route for por By adding after the words "at or near Cheadle Station on Alternative the Canadian Pacific Railway" in lines fifteen and sixteen tion of line. |