shall be determined by the Railway Committee of the Privy Council as provided in The Railway Act.

9. The persons named in the first section of this Act are Provisional hereby constituted provisional directors of the Company.

directors.

thereon.

10. The capital stock of the Company shall be five hundred Capital stock thousand dollars and may be called up by the directors from and calls time to time as they deem necessary, but no one call shall exceed ten per cent on the shares subscribed.

11. The head office of the Company shall be at the town of Head office. Trail in the province of British Columbia.

12. The annual meeting of the shareholders shall be held Annual on the second Tuesday of the month of September in each meeting. year at the head office of the Company, or at such other place in Canada as the shareholders by by-law appoint.

13. At such meeting the subscribers for the capital stock Election of assembled who have paid all calls due on their shares, shall directors. choose five persons to be directors of the Company, one or more of whom may be paid directors.

14. The Company may issue bonds, debentures, or other Issue of bonds. securities of an amount not exceeding five hundred thousand dollars in aid of the constructions herein mentioned, 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 the said bridge by other corporations or persons shall be specially charged and pledged as security for such bonds, and may also provide that the Company 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.

Parliament

15. Any Act hereafter passed for the purpose of controlling Power of railway companies incorporated by or subject to Parliament as as to future 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.

CHAP. 67.

An Act respecting the Montreal Bridge Company.

[Assented to 29th June, 1897.]

HEREAS the Montreal Bridge Company has, by its Preamble, petition, prayed for the passing of an Act to extend the time limited for the completion of its bridge, 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:

1. The Montreal Bridge Company, hereinafter called "the Time extendCompany," shall complete its bridge within five years from the ed for completion of bridge. passing of this Act, otherwise the powers granted for such 1890, c. 93, construction shall cease and determine as respects so much of s. 14. the said bridge as then remains uncompleted..

s. 11,

2. The Company may, in addition to the bonds authorized Issue of bonds to be issued under the provisions of section eleven of its Act upon railway. of incorporation, issue bonds, debentures, or other securities to 1890, c. 93, the extent of twenty-five thousand dollars per mile on all lines of railway constructed or purchased for the purpose of connecting its bridge with any existing or future lines of railway, and upon which no other bonds, debentures or other securities are outstanding; and may divide its undertaking into sections, and issue the bonds, and other securities authorized to be issued, separately with respect to each of the said sections, or as to certain sections combined; and such 1888, c. 29. bonds or other securities, if so issued, shall, subject to the provisions contained in section ninety-four of The Railway Act, form a first charge upon and be limited to the particular section with respect to which they are issued, and upon the rents and revenues thereof, and upon all the property of the Company belonging to such section.

property in

3. The Company may also issue bonds, debentures, or other Issue of bonds securities upon the security of the stations, warehouses, on railway elevators, sidings and any property connected with the terminal Montreal. facilities provided by it in the city of Montreal, to an amount

How bonds secured.

Power of Parliament as to future legislation.

not exceeding the actual cost of each such property; and such bonds may be secured by a mortgage which shall contain a description of the property upon which the said bonds are issued, and such bonds shall form a first charge upon, and be limited to the particular property with respect to which they are issued.

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 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.

CHAP. 68.

An Act respecting the Niagara Grand Island Bridge

WH

Company.

[Assented to 21st May, 1897.]

WHEREAS the Niagara Grand Island Bridge Company Preamble. has, by its petition, prayed that the times limited for

the commencement and completion of its undertaking be extended, 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:

struction.

1. The times limited by the Acts respecting the Niagara Time extendGrand Island Bridge Company for the commencement and ed for concompletion of its undertaking are hereby extended as follows: The works authorized by chapter seventy-seven of the statutes 1874, c. 77; of 1874, incorporating the said Company, shall be commenced within three years and completed within five years from the passing of this Act, otherwise the powers granted by the said Act shall cease and be null and void.

OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty.

1877, c. 64 1882, c. 86; 1886, c. 88;

1880, c. 60

1889, c. 86; 1891, c. 105; 1894, c. 99.