As to issue of bonds.

R.S.C., c. 109

to apply.

Time for construction.

the confluence of the rivers Desert and Gatineau, at or near the Desert village, in the county of Ottawa, to some point on or near James' Bay, and may operate the said originally authorized line and the said extension thereof; and all powers and privileges conferred upon the Company by the said Acts shall apply equally to the extension hereby authorized.

4. The powers of the Company, under the said Acts, as to the issue of bonds, shall apply also to the said extension hereby authorized.

5. The provisions of "The Railway Act" shall, except in so far as they are inconsistent with the said recited Acts of the Legislature of the Province of Quebec, apply to the Company.

6. The said extension shall be commenced within three years and be completed within ten years after the passing of this Act.

OTTAWA Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most
Excellent Majesty.

CHAP.

CHAP. 75.

An Act to enable the Saint Martin's and Upham Railway Company to sell its Railway and Property.

[Assented to 23rd June, 1887.]

WHEREAS the Railway of the Saint Martin's and Up- Preamble.

ham Railway Company, a corporation created by the

Legislature of the Province of New Brunswick, is connected with the Intercolonial Railway at or near to Hampton Station, in the county of King's, in the Province of New Brunswick, and extends from the said point of connection to the village of Quaco, in Saint Martin's, in the electoral district of the city and county of Saint John, in the said Province; and whereas it is declared by section one hundred and twenty-one of chapter one hundred and nine of the Revised Statutes of Canada, that the said railway of the said Company is a work for the general advantage of Canada; and whereas the said Company has, by its petition, represented that it desires to sell its said railway and property, and prayed for the passing of an Act to enable it to do so; 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 Saint Martin's and Upham Railway Company Railway may may, subject to the approval of the Governor in Council, be sold. sell and convey its said line of railway and appurtenances, property and franchises, to the Central Railway Company or any other railway company.

to be obtain

2. Before any sale or conveyance is made under this Act, Sanction of the same shall be authorized by a meeting of the stock- stockholders holders of the Company, called for that purpose according ed. to the by-laws of the Company, at which meeting at least three-fourths of the stockholders present vote in favor of such sale and conveyance being made.

3. Anything contained in this Act, or anything done Certain under this Act shall not in any way, manner or form, alter, rights, &c.» impair or interfere with the rights, powers, privileges, judg ments or liens of any creditor or creditors of the said Com

pany,

pany, or any person or persons or body corporate having any claim or claims of any nature or kind against the Company, its said railway and property, or either of the same, or part thereof.

OTTAWA Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most Excellent Majesty.

CHAP.

CHAP. 76.

An Act respecting the New Brunswick Railway Com

pany.

[Assented to 23rd June, 1887.]

HEREAS the New Brunswick Railway Company has, Preamble. by its petition, set forth that it is the owner of a railway running from Gibson, in the county of York, in the Province of New Brunswick, to Edmundston, in the county of Madawaska, in the said Province, and also that it manages and operates the New Brunswick and Canada Railway, the St. John and Maine Railway, and the Fredericton Railway, in the said Province, and the Aroostook Railway, in the State of Maine, and that it is possessed of a large amount of timber lands in the said Province; that it has issued bonds to the amount of six hundred thousand pounds sterling, secured by a deed of trust upon its railway and lands; that in order to put and maintain the said railway in good order and condition, so as to enable it to work the said railways economically and to serve the public more efficiently, the said Company is desirous of obtaining authority to borrow a further sum of money, and has prayed that an Act may be passed for that purpose, 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:

thorized.

1. The said Company may make a further issue of bonds Further issue to an amount not exceeding one million five hundred thou- of bonds ausand dollars, and for the purpose of securing the same and the interest thereon may convey to a trustee or trustees, in trust for that purpose, subject to the trusts set forth in the aforesaid deed of trust, its said property, lands, railway, its rights and interests owned, possessed or enjoyed by it, as well in its own railway as in the aforenamed railways, or otherwise, and the tolls, income, profits, improvements and renewals thereof, and all additions thereto, after deduction from such tolls and income of the working expenses of the said railways, and the yearly interest upon the said sum of six hundred thousand pounds sterling, heretofore secured by deed of trust upon the said lands, property, and railway.

2. Such bonds and conveyances may be executed and Sanction of issued at any time, under the authority of a vote of three

fourths

shareholders.

Denomination and time of issue of bonds

Who shall be trustees.

fourths of the shareholders of the Company, passed at a meeting of such shareholders legally called and held, authorizing the execution and issue of such bonds or conveyances.

3. Such bonds shall be of such denominations. and shall be made payable at such time and place, in Canada or elsewhere, and in currency or in sterling or in both, and shall bear such rate of interest, payable at such times, and be executed in such manner as the shareholders, or the directors thereto authorized by a vote of the shareholders at such meeting, direct; and each of the said bonds shall be certified by the trustee or trustees mentioned in the conveyance of the same, as being one of the bonds secured by such convey

ance.

4. The trustee or trustees to whom such conveyance is made shall be designated by the shareholders at the said meeting, or by the directors thereto authorized, and such Execution of conveyance shall be executed in such manner as the directors prescribe, and such conveyance shall contain such provisions, not contrary to law, as may be considered necessary and convenient for the purposes of such trust.

conveyance.

Provision in

of payment.

5. In the event of default being made in the payment of case of default the said bonds or any of the coupons thereto attached, and upon the performance of all things in the said conveyance stipulated and set forth as being necessary to divest the Company of all interest, right of redemption, claim or title in or to the said railway, lands and other property therein conveyed, the Company shall be absolutely divested of all interest, right of redemption, claim or title in or to the said railway, lands and property.

As to working expenses.

R.S.C., c. 109 to apply.

6. The working expenses mentioned in section one of this Act shall include the rental due under the leases of the branch lines referred to in the preamble to this Act; but nothing herein contained shall affect any bonds issued by any lines leased to the New Brunswick Railway Company.

7. "The Railway Act," chapter one hundred and nine of the Revised Statutes of Canada, shall apply to the New Brunswick Railway Company.

OTTAWA Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most

Excellent Majesty.

CHAP.