CHAP. 65. An Act respecting the Midland Railway of Canada. [Assented to 23rd June, 1887.] WHEREAS heretofore the several railway companies Preamble. known as the Midland Railway of Canada, the Toronto and Nipissing Railway Company, the Victoria Railway Company, the Whitby, Port Perry and Lindsay Railway Company, the Toronto and Ottawa Railway Company, and the Grand Junction Railway Company were amalgamated and became one company under the name of the Midland Railway of Canada; and whereas the several lines owned by the said companies before the said amalgamation became known respectively as the Midland Section, the Nipissing Section, the Toronto and Ottawa Section, the Whitby Section, the Victoria Section, and the Grand Junction Section, respectively, of the said Company's railway; and whereas the Midland Railway of Canada, so formed by the said amalgamation, have, by their petition, prayed that an Act may be passed extending the time for the completion of the said Victoria Section, the said Toronto and Ottawa Section, and the said Grand Junction Section, severally and respectively, for the period of six years from the passing of this Act; and whereas it is expedient to grant in part the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Sena tand House of Commons of Canada, enacts as follows extended. 1. The time for the completion of the said several sec- Time for tions of the Midland Railway of Canada, that is to say, for construction the completion of the Toronto and Ottawa Section, the Victoria Section, and the Grand Junction Section, respectively, is hereby extended to the thirteenth day of April, in the year one thousand eight hundred and ninety-two, and the same may severally be completed within the said period. OTTAWA Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most CHAP. Preamble. c. 69. CHAP. 66. An Act respecting the Grand Trunk, Georgian Bay and [Assented to 23rd June, 1887] WHEREAS the Grand Trunk, Georgian Bay and Lake Erie Railway Company have, by their petition, prayed that the time for the completion of the several lines 44 V. (Ont.) of their railway, mentioned in section five of the Statute of the Province of Ontario, forty-fourth Victoria, chapter sixtynine, be extended for a period of five years from the passing of this Act, and that they may be authorized to build the branch to Owen Sound from such point on their main line or any of the said branches as shall be found most convenient; and whereas it is expedient to grant in part 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: Time for construction extended. Branch to In Wiarton. 1. The time for the completion of the several lines of railway mentioned in section five of the Statute of the Province of Ontario, forty-fourth Victoria, chapter sixty-nine, with the exception of the line to Wiarton, which has been built, shall be and the same is hereby extended for the period of five years from the passing of this Act, except as to the branch provided for in the next following section. 2. The Company are hereby authorized to build and comvermay and plete within two years from the passing of this Act a connection from any point on their main line between the village of Invermay and the village of Wiarton into the town of Owen Sound by such route as may be found most convenient, and all the provisions of the said Statute of the Province of Ontario, forty-fourth Victoria, chapter sixty-nine, section five, shall apply to the said line or connection hereby authorized. And to Embro. 3. The Company may build a branch from a point on their line between Strathallan and Woodstock to the village of Embro, and all the provisions of the Act in the next preceding section of this Act mentioned, shall apply to the branch by this section authorized. : OTTAWA Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most СНАР. MO CHAP. 67. An Act to further amend the Act incorporating the [Assented to 23rd June, 1887] WHEREAS the Canada Atlantic Railway Company has, Preamble. by its petition, prayed for the passing of an Act to empower it to divide the Canada Atlantic Railway into sections, and to charge any such section with, and specially mortgage the same as security for, a proportionate amount of its bond issue as at present authorized, and to extend its powers in relation to such bond issue, and to otherwise amend its charter; and whereas 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: sections. 1. The Canada Atlantic Railway Company may, by a Division of resolution of the shareholders, divide the railway into two railway into sections: "Section One" to comprise all of the Canada Atlantic Railway, including the steam ferry, but excepting the bridge and its approaches authorized to be constructed over the River St. Lawrence; "Section Two" to comprise, when constructed, the said bridge and its approaches over the River St. Lawrence. 2. The Company may also, by a resolution of the share. And of bonds holders, divide the mortgage bonds, authorized to be issued into series. by section one of the Act relating to the said Company passed by the Parliament of Canada at its last session, being 49 V., c. 72. forty-ninth Victoria, chapter seventy-two, into two separate series, to be denominated "Series A" and "Series B"; "Series A" to consist of bonds amounting to a sum not exceeding twenty-five thousand dollars per mile of the whole length of the said railway, excepting the said bridge; "Series B" to consist of bonds amounting to a sum not exceeding twelve hundred thousand dollars. 3. To specially secure "Series B" bonds, tolls for the use Tolls for use of the said bridge, not exceeding four dollars for each car, of bridge. shall, from time to time, be fixed, imposed, changed, varied, and regulated by the by-laws of the Company,—but such by-laws before being enforced shall be first submitted to and and approved of by the Governor in Council, and the tolls to be levied shall be uniformly imposed upon all companies and corporations using the said bridge, and shall be demanded and received, as well from the Canada Atlantic Railway Company, as from all railway companies and other corporations and persons using the same, for all cars passing over the said bridge, and shall be paid to such persons, and at such places, and under such regulations, as the said byEnforcement laws direct; and the payment of such tolls may be enforced by action, sale of goods, and otherwise, as provided in The Railway Act:" of payment. Separate accounts to be kept. 2. A separate and distinct account shall be kept of all moneys received from the said bridge tolls; and all such moneys shall be specially appropriated to the maintenance Application and operation of the said bridge and its approaches, and the payment of the principal and interest on the said "Series B" bonds, and the balance shall be appropriated to the general purposes of the Company : of tolls. Right of passage. Security for mortgage bonds. Asto series A bonds. 3. Any railway company whose road now has or shall hereafter have a terminus at or shall run its trains to or from any point at or near the said bridge, shall have and be entitled to the same and equal rights and privileges in the passage of the said bridge. 4. If the Company exercises the powers in this Act hereinbefore contained, then the mortgage bond issue shall be secured as follows: (1.) "Series A" bonds shall be secured by a deed or deeds of mortgage from the said Company to a trustee or trustees for the holders of the said "Series A " bonds, and the said deed or deeds of mortgage securing the same shall, after deducting therefrom working expenses and maintenance, be a first charge and lien upon the whole of Section One aforesaid, and upon the railway included therein, and upon the franchises, plant, rolling stock, tolls, revenues, and other property, real and personal, movable and immovable, at the time of the making of such deed or deeds of mortgage, or at any time thereafter owned by the said Company, and belonging to, or used in connection with the said Section One; the whole as described in the said deed or deeds of mortgage; and the said deed or deeds of mortgage may contain all or any such powers of sale, powers, provisoes, conditions, stipulations and other matters authorized to be contained in the deed or deeds of mortgage mentioned in the said 49 V., c. 72, s. section one of the said Act forty-ninth Victoria, chapter seventy-two: 1. bonds. 66 As to series B (2.) Series B" bonds shall be secured by a deed or deeds of mortgage from the said Company to a trustee or trustees for the holders of the said "Series B" bonds and the said "Series B" bonds, and the said deed or deeds of mortgage securing the same, shall be a first charge and lien upon the whole of Section Section Two aforesaid, and upon the tolls and revenues thereof to be obtained as aforesaid, after deducting therefrom working expenses and maintenance, and upon the said bridge and the franchises relating thereto, and upon the other property, real and personal, movable and immovable, then or at any time thereafter owned by the Company and belonging to or used in connection with the said Section Two, the whole as described in the said deed or deeds of mortgage; and the said deed or deeds of mortgage may contain all or any such powers of sale, powers, provisoes, conditions, stipulations and other matters authorized to be contained in the deed or deeds of mortgage mentioned in the said section one of the said Act forty-ninth Victoria, 49 V., c. 72, s. chapter seventy-two. 1. signed to cer 5. Instead of dividing and securing its bond issue as or priority herein before provided, the Company may, by the resolution may be asof its shareholders authorizing any issue of bonds, declare tain bonds. that such proportion thereof as is specified in such resolution shall have priority and precedence over the remainder of such issue; and thereupon the deed or deeds of mortgage to secure the bond issue authorized to be executed under the said section one of the said Act forty-ninth Vic- 49 V., c. 72, toria, chapter seventy-two, shall be modified accordingly; and the said mortgage bonds, as between themselves, shall thereupon rank and have priority and precedence upon the property and premises in the said deed or deeds of mortgage mentioned as in the said resolution may be provided, and the respective priorities and precedence of the bonds shall appear on the face thereof. s. 1. 6. No resolution of shareholders, passed subsequently to Priority not affected exthe issue or re-issue of any mortgage bonds, shall take away, cept by conchange or affect their priority, precedence, or charge, as de- sent. termined by the original resolution authorizing such issue or re-issue, except with the consent of the holders of such mortgage bonds. V., c. 72, s. 1. 7. Every resolution of shareholders in this Act mentioned Resolution shall be passed as provided in the proviso at the end of the subject to 49 said section one of the said Act forty-ninth Victoria, chapter seventy-two. necessary. 8. It shall not be necessary, in order to preserve the No registrapriority, lien, charge, mortgage or privilege purporting to tion of deed appertain to or to be created by any bond issued or mortgage deed executed under the authority of this Act, that such bond or deed be registered in any manner or in any place whatsoever; but every such mortgage deed shall be deposited in the office of the Secretary of State of Canada, Deposit with of which deposit notice shall be given in the Canada Secretary of Gazette State. |