CHAP. 73. An Act to amend the Act incorporating the Pontiac [Assented to 23rd June, 1887.] WHEREAS the Pontiac Pacific Junction Railway Com- Preamble pany has, by petition, prayed for the passing of an Act granting an extension of time necessary for the completion of its railway; to provide for the execution of a trust mortgage deed; to empower it to extend its line of railway through the Province of Ontario to Sault Ste. Marie and to enter into an agreement with the Canadian Pacific Railway Company for the purchase of the Aylmer branch of the Canadian Pacific Railway; and to provide the necessary authority to relieve the said branch from all mortgages and other charges now existing thereon, and for other purposes; 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: line authoriz ed. 1. The Company shall have full power and authority, Extension of in addition to the power which at present exists of constructing the line of railway to the town of Pembroke, to cross the Ottawa River at Allumettes Island and to extend its line in a north-westerly direction beyond Pembroke, passing to the south of Lake Nipissing and crossing the Gravenhurst and Callendar Railway at a point about twenty miles south of Callendar station, to Sault Ste. Marie; and also to extend its line of railway through the Province of Quebec in a north-westerly direction, within the limits of the county of Pontiac. constraction 2. The Company shall, with reference to the construc- Powers as to tion, maintenance and operation of a bridge or bridges over of bridge over the Ottawa River, as authorized by section two of the Act the river passed in the forty-third year of Her Majesty's reign, chap- Ottawa. tered fifty-five, have the same powers and be subject to the same conditions as are provided with respect to the construction, maintenance and operation of a bridge or bridges by the said Company over the said Ottawa River at or near the city of Ottawa under the provisions of the Act passed in the forty-fifth year of Her Majesty's reign and chaptered sixty-nine: VOL. II-6 2. All railway companies may use the bridges, and on what con ditions. Mortgage bonds. 2. All railway companies whose roads now have or shall hereafter have a terminus at, or shall run their trains to or from any point at or near any of the said bridges shall have and be entitled to equal rights and privileges in the passage of any of the said bridges; and the tolls to be levied shall be uniformly imposed upon all companies using any of the said bridges, and shall first be submitted to and approved of by the Governor in Council. 3. In connection with the powers conferred upon the deed to secure Company by the Acts forty-third Victoria, chapter fifty-five, and forty-fifth Victoria, chapter sixty-nine, to issue bonds and debentures, and further in connection with the exercise of the said powers, it shall be lawful for the directors of the Company, if the consent thereto of the shareholders has been obtained by the vote of a general or special meeting of the Company, duly called for that purpose, at which meeting shareholders representing at least two-thirds in value of the stock of the Company are present in person or represented by proxy to execute any deed or other instrument which may be requisite to perfect the charge and hypothec intended to be created upon the said railway, and to perfect the security thereby intended to be given, and to enable such charge to be made completely effectual by registration thereof in accordance with the laws of the Province of Quebec and the Province of Ontario; but such mortgage deed shall provide in the first instance for the payment of the working expenses of the railway; any such mortgage deed or hypothec may be, from time to time, executed in favor of any person or persons in the United Kingdom, or in Canada or elsewhere, as trustees for the holders of the said debentures, which debentures shall refer to such mortgage deed or hypothec, and shall be countersigned by the trustees, or one of them, or by some person in their name duly authorized by them in that behalf, for the purpose of identifying such debentures as those which are to be secured by such mortgage deed or hypothec: May be in favor of certain persons as trustees Incorporated companies may be trustees. What such deed may contain. 2. Any bank or company, lawfully incorporated for financial purposes, may be also appointed trustee, and is hereby authorized to accept such appointment and perform the duties connected therewith, as described in such mortgage deed or hypothec. 4. Such mortgage deed or hypothec may contain an authorization to the trustees to take possession of, work and sell the railway, lands and other property therein mentioned, upon default of the Company to pay the interest on the debentures secured thereby or any part thereof, within such delay and upon such terms and conditions as the Company and the said trustees agree upon, and as set forth in the said mortgage deed or hypothec. effect thereof. 5. Such mortgage deed or hypothec, upon being duly Registration registered in accordance with the laws of the Province of of deed and Quebec or Ontario, by the registration thereof, or of an authentic notarial copy thereof, in the registry offices for all the registration divisions in which are situate any part of the railway, lands or other property intended to be affected thereby, and without the registration of any of the debentures issued, shall, for the purposes of this Act and of the loan to be made in virtue thereof, take rank according to the date of the registration, without reference to the date of Deposit with issue of the debentures to be secured thereby; and, except State. Secretary of when otherwise provided in the mortgage deed or hypothec, all the debentures to be issued upon the security thereof shall be secured thereby pari passû, and without any preference of one over the other in consequence of the respective dates of issue thereof, or for any other reason. Every such deed of mortgage or hypothec shall be deposited in the office of the Secretary of State of Canada,-of which deposit notice shall be given in the Canada Gazette. 6. The trustees may, at all times, in their own names Powers of and without the concurrence or co-operation of any of the trustees. debenture holders, enforce all the rights which such mortgage deed or hypothec purports to confer upon them and all contracts into which, for the purposes of benefitting or protecting the debenture holders, they may enter with the Company, respecting the construction of the railway, or with any other persons, in precisely the same way as if such contracts had been entered into and such mortgage deed or hypothec had been made to them for their own benefit, and as if they were the holders of all the debentures issued thereunder and intended to be secured thereby; and for such purpose they may, if necessary, bring or defend, in their own names, any actions or suits in any court in the Province of Quebec or in the Province of Ontario. 7. It shall be a condition of such mortgage deed of Duties of trushypothec, that, upon the said trustees taking possession of tees. and working the said railway, they shall be bound and obliged to render periodical accounts to the Company of the earnings and receipts of the said railway, and to pay over to the Company any surplus of revenue over and above the expense of working and maintaining the said railway, and over and above what is required for the payment of the claims of the said debenture holders; the whole subject to such penalty as, in and by the said mortgage deed or hypothec, may be stipulated and provided. 8. The Company may enter into an agreement with the Agreement Canadian Pacific Railway Company for the purchase of for purchase of Aylmer the Aylmer branch of the Canadian Pacific Railway; but branch of C. such agreement shall be first submitted to and approved of P. R. subject VOL II-61 by to approval. case by the Governor in Council; and after such approval, and when such purchase has been completed, and the hypothecary debts at present existing on the said Aylmer branch As to issue of have been paid or discharged, the Company may issue bonds bonds in snch or debentures on the security of the said Aylmer branch, and all the provisions contained in the Act herein before first cited or in the Act amending the said Act as to the issuing of bonds or debentures shall apply as fully and effectually to the said Aylmer branch as they apply to the main line; and after the completion of such purchase, the said Aylmer branch shall be considered and deemed to be an integral part of the Pontiac Pacific Junction Railway, and this Act shall apply thereto. Provisions as to discharge on Aylmer branch. 9. The Pontiac Pacific Junction Railway Company may of mortgage accept from any person, corporation or Government holding a mortgage upon the said Aylmer branch, a deed of release and discharge, freeing and discharging the said branch line from all hypothec or mortgage or other lien existing in his or their favor upon the said branch, upon such terms and conditions as are mutually agreed upon between such person, corporation or Government, and the said Company. Time for construction. 10. The time for completing the construction of the Pontiac Pacific Junction Railway to the town of Pembroke is hereby extended to the first day of September, in the year one thousand eight hundred and eighty-nine, and the extension of the said railway to Sault Ste. Marie and Mattawa in the Province of Ontario, shall be completed within five years thereafter. OTTAWA Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most CHAP. MO CHAP. 74. An Act respecting the Ottawa and Gatineau Valley WH Railway Company. [Assented to 23rd June, 1887.] HEREAS, by an Act of the Legislature of the Province Preamble. of Quebec, passed in the session held in the forty- 42-43 V., second and forty-third years of Her Majesty's reign, (Que.) c. 51. chaptered fifty-one, the Ottawa and Gatineau Valley Railway Company, hereinafter called the Company, was duly incorporated for the purpose of constructing a railway from a point on the north shore of the Ottawa River, at or near the village, now the city, of Hull, in the county of Ottawa, to a point at or near the confluence of the rivers Desert and Gatineau, known as Desert village, in the said county; and whereas the said Act of incorporation has 50 V., (Que.) been amended by an Act passed during the session of the c. 69. said Legislature held in the present year; and whereas the Company has, by its petition, prayed for the passing of an Act giving it power to extend its line from the present northern terminus, authorized by the said Acts, to some point on or near James' Bay, and for other purposes hereinafter mentioned; 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: 1. The Ottawa and Gatineau Valley Railway is hereby Declaratory. declared to be a work for the general advantage of Canada. 2. The Company is hereby declared to be a body corpor- Incorporaate and politic, within the jurisdiction of the Parliament of tion. Canada, for all and every the purposes mentioned in the said recited Acts of the Legislature of the Province of Quebec, and shall have the rights, powers, privileges, benefits and authority conferred upon the Company by virtue of the said Acts of the Legislature of the Province of Quebec, subject always to any conditions or limitations imposed by the said Acts, or either of them. way may be 3. The Company may extend its line of railway by lay- Line of railing out and constructing a single or double line of railway, extended. of such width or gauge as the Company see fit, from the |