Reduced $50 each. Shares. in proportion: Provided always, that the Directors of such Proviso: Corporation may and are hereby empowered, if they deem it shares may be advantageous for the interests of such Bank, at any time hereafter, consolidated with the consent of a majority of the Shareholders present, or into shares of represented by proxy, at the usual annual or any special meeting called for that purpose, (the vote being taken in the same manner as votes for the election of Directors are taken), to consolidate the said reduced Shares of twenty-four dollars each into Shares not exceeding fifty dollars each; Provided, that if by means of such Proviso as to consolidation there shall be any Share or fraction of a Share held fractions of byfany Shareholder or Shareholders, that may be insufficient to constitute one full Share of fifty dollars, such shareholder shall have a right at any time within two months after such consolidation, to pay to the Bank an amount sufficient to make with such Share or part of a Share estimated at twenty-four fortieths of its nominal amount the sum of fifty dollars; and the Bank shall thereupon register in his or their name an additional Share of fifty dollars; and no other more formal transfer to such Shareholder shall be required; and if such amount be not paid to the Bank within the said two months, the value of such Share or part of a Share shall be placed at the credit of such Shareholder at the proportion aforesaid, and shall be payable to his order; and thereupon without any transfer or other formality being required, all the rights of such Shareholder in such share or fraction of a Share, shall belong to and be vested in the Bank. creased to $50. 2. The said Directors may, with the assent of the majority of Capital Stock the Shareholders present or represented by proxy, at any ordinary may be inannual or special general meeting called for that purpose by By- $1,000,000 Law or By-Laws, increase the Capital Stock of the said Bank, but in shares of so that it shall not in the whole exceed the amount of One Million Dollars, ($1,000,000); and such additional Stock shall be subscribed for in Shares of fifty dollars each, and issued otherwise upon the terms set forth in the first, second, third, fourth, fifth, sixth, ninth, tenth, eleventh and twelfth Sections of the Act passed in the Session held in the twenty-sixth year of Her Majesty's Reign, Chapter fifty-seven, authorizing the issue of two hundred thousand dollars to the then existing Capital of said Stock; Pro- Proviso. vided always, that issuing and subscribing for the additional capital authorized by this Act may take place at any time while the Charter of the said Bank remains in force. Directors and 3. The Shareholders of the said Bank present in person or by Shareholders proxy, shall have power by any By-Law or By-Laws to be passed may at a at any annual or special meeting to be called for that purpose; to general meeting alter the reduce the number of the Directors of the said Bank to five, and number of to alter the scale of voting for the election of Directors, and on the scale of any question on which the Shareholders may require to vote; to voting. one vote for every share of capital stock held by any Shareholder in the said Bank; Provided such By-Law be concurred in by an Proviso. absolute majority of the entire number of the votes then held by the Qualification of Directors. Annual meetings on first Wednesday in July. Name of Bank may changed to Hamilton." Resolution be affecting such change of name, and the Shareholders, according to the present scale of voting, and that the purpose of such meeting shall be specially indicated in the notice calling the same. 4. From and after the passing of this Act no person although otherwise qualified to be a Director of such Bank, shall be capable of being elected or acting as a Director thereof, unless he be the owner or holder in his own name of at least one thousand dollars of the then Shares of the Capital Stock of such Bank all fully paid up. 5. The annual meetings of the Shareholders shall, after the expiration of the year one thousand eight hundred and sixty-nine, notwithstanding any provision in any Act affecting the said Bank heretofore passed, be held on the first Wednesday of the month of July of each and every year. 6. It shall be lawful for the majority of the Shareholders of the said Bank, present, or represented by proxy, at their next or any "The Bank of future annual meeting, or at any special general meeting of the Shareholders, to be called for that purpose, (the vote being taken in the same manner as votes for the election of Directors are taken), and they are hereby empowered, to change the name of the said Bank to that of "The Bank of Hamilton," and the Resolution of the Shareholders effecting such change of name of such Bank shall be entered in the Minutes of the Meeting in the ordinary Minute Book of the said Bank, and shall specify the day notice thereof. on which such change of name shall take place, which day shall not be less than thirty days from the passage of the aforesaid Resolution; and the President of such Bank shall thereupon forthwith sign and seal with the corporate seal of such Bank, a true copy of such Resolution and transmit the same to the Secretary of State for Canada, who shall, upon receipt thereof, duly file the same in his office; and the said Bank shall also forthwith cause such Resolution to be inserted at full length in the "Canada Gazette," and at least one Newspaper published in the City of Ilamilton, for the space of one month: and upon, from and after the day mentioned in said Resolution as that on which the change of name of said Bank shall take effect, the name and style of the said Corporation shall, by virtue of such Resolution and this Act, be changed for all purposes whatsoever, unto, and thereafter be "The Bank of Hamilton," which name and style shall then and thenceforth be sufficient and proper to be used in all then pending and future legal and other proceedings, transactions and affairs of the said Bank, or in any wise concerning the same. Change of name how to be proved. 7. The said change of name of such Bank, when and after it shall be so effected, shall be considered for all purposes and by all Courts and Tribunals to be sufficiently proved by the production of a copy of such Resolution, under the corporate seal of such Bank, or by a copy thereof, certified by the Secretary of State, or by by the production of any of the issues of the "Canada Gazette,” containing the aforesaid advertisement thereof. change of S. The said change of name of such Bank shall not nor shall Limitation of anything contained in this Act, or authorized by it, be construed effect of such to release or in any wise affect the liability of any surety or sure- name. ties or other person or persons bound or liable to said Bank; and the said Bank shall by the name of "The Bank of Hamilton" possess and exercise all the property, rights, powers and privileges, and be bound by and discharge all the liabilities, debts, contracts and obligations which the said Bank held, possessed, or was liable for under the name of "The Gore Bank," or 66 The President, Directors and Company of the Gore Bank.” 9. This Act shall be a Public Act, and may be referred to and Public Act. cited in pleadings, and upon all other occasions and in all Courts Short Title. and elsewhere, as The Gore Bank Act, 1869. An Act to amend the Act to incorporate the Union Bank of Lower Canada. W [Assented to 22nd June, 1869.] HEREAS the Union Bank of Lower Canada have by Preamble. their petition prayed for certain amendments to their Act of Incorporation, and it is expedient to grant their prayer : Therefore, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: 29 Vic., Cap. I. Section six of the Act passed by the Legislature of the late Section 6 of Province of Canada, in the twenty-ninth year of Her Majesty's 75, amended. Reign, chapter seventy-five to incorporate the Union Bank of Lower Canada, is hereby amended so as to read as follows: President and Bank. "6. The stock, property, affairs and concerns of the said bank Directors, shall be managed by seven directors, who shall choose from amongst Vice-President themselves a president and vice-president, who, excepting as is to manage the herein before provided, shall hold their offices for one year, which directors shall be stockholders residing in Canada, and naturaltorn or naturalized subjects of Her Majesty, and be elected on the first Monday in July in each year, at such time of the day, and at such place in the City of Quebec aforesaid, as a majority of the directors for the time being shall appoint; and public notice shall be given by the directors as hereinbefore provided in the third section of this Act, previous to the time of holding such election; and the said election shall be held and made by such of Election how the shareholders of the said Bank as have paid all calls made made, &c. by the directors, and as shall attend for the purpose in their own proper persons or by proxy, such persons being or having been in either case, holders of such shares for three months previous; and all elections for directors shall be by ballot; and the said Ballot proxies filled. Proxies. proxies shall only be capable of being held and voted upon by shareholders then present; and the seven persons who have the greatest number of votes at any election, shall be directors, except Vacancies how as hereinafter directed; and in case of a vacancy occuring in the number of directors, the remaining directors shall fill the same by appointing from among the shareholders such person or persons possessing the qualification required by this Act as they may think fit; and if the vacancy so created shall be that of president or vice-president, the directors at the first meeting after the completion of their number, shall, from among themselves, choose a president or vice-president who shall continue in office for the remainder of the year; and if it should happen, at any election, Equality of votes at elec- that two or more persons have an equal number of votes, then the directors who shall have had a greater number of votes, or the majority, shall determine which of the said persons so having an equal number of votes shall be the director or directors, so as to complete the whole number of seven; and the said directors as soon as may be after the said election shall proceed in like manner to elect, by ballot, two of their number to be president and viceProviso: qua- president; provided always, that no person shall be eligible to tionɛ. lification of Directors. When only this Act shall take effect. Preamble. be or continue as director, unless he shall hold in his name and for his own use, stock in the said bank to the amount of twenty shares, on which all calls have been paid in." 2. This Act shall take effect upon, from and after the day the same shall be approved and accepted by a vote of the Shareholders at an annual or special general meeting, such vote to be taken in the manner prescribed for the election of directors in the Act hereby amended. CAP. LVI. An Act to authorize an addition to the Capital Stock of the Canadian Bank of Commerce, and for other purposes relating to the said Bank. [Assented to 22nd June, 1869.] HEREAS the Shareholders of the Canadian Bank of Commerce, at their annual general meeting held on the sixth day of July, in the year of our Lord one thousand eight hundred and sixty-eight, authorized application to be made to the Parlia ment of the Dominion of Canada, for authority to increase the capital stock of the said Bank, and a Petition under its corporate seal hath been presented praying for such authority and for certain amendments in the Acts of Parliament under which the said Bank is now carrying on its business, and it is expedient that the prayer of the said Petition should be granted; Therefore, Her Majesty, by and with the advice and consent of the Senate and the House of Commons of Canada, declares and enacts as follows: 1. It shall and may be lawful for the Canadian Bank of Com- The Bank merce to add to their present capital stock any sum not exceeding $1,000,000 one million of dollars divided into shares of fifty dollars each which to its capital. shares may be subscribed for either in or out of Canada. may add 2. Such stock may be issued or allotted by the Directors at par How allotted. or at any rate of premium which the Directors may from time to time determine, but not below par. 3. The premium, if any, on such stock shall be carried to the Premium. credit of the reserve fund of the Bank. 4. The Directors may allot any part of such stock pro rata Allotment to among the shareholders existing at the date of such allotment who Shareholders. may desire to subscribe therefor. 5. The shares of such stock subscribed for shall be paid in and Calling in subscripby such instalments and at such times and places and under such tions. regulations as the Directors may from time to time appoint; and executors, administrators and curators paying instalments upon the shares of deceased shareholders shall be and they are respectively hereby indemnified for paying the same; Provided always, Proviso: ten that no share shall be held to be lawfully subscribed for unless a per cent on subscribing. sum equal to at least ten per cent on the amount subscribed shall together with the premium (if any) charged by the Directors, be actually paid at the time of subscribing; provided further, that the Proviso: balance unpaid upon any such share shall be called up in full within within 3 three years from the date of subscription, by instalments not larger years. than one-tenth of the amount subscribed, payable at intervals of not less than thirty days; and thirty days notice of the calls shall be given in a newspaper published in the City of Toronto, and in the Official Gazette. remainder 6. Any subscriber may pay up in advance any sum payable in Payment in respect of his shares. advance. cails, by for 7. If any subscriber or shareholder shall refuse or neglect to pay Enforcing any instalment upon his stock at the time or times required by the payment of Directors as aforesaid, such subscriber shall incur a forfeiture to feiture of the use of the said Bank of a sum of money equal to ten per centum stock. on the amount of such stock, and moreover, it shall be lawful for the Directors (without any previous formality other than thirty days public notice of their intention) to sell at public auction the said stock or so much thereof as shall, after deducting the reasonable expenses of the sale, yield a sum of money sufficient to pay the unpaid instalments due on the remainder of the said stock and the amount of forfeitures incurred on the whole; and the President, with the Vice-President or the Cashier of the said Bank, shall execute the transfer to the purchasers of the stock so sold; and such transfer being accepted shall be as valid and effectual in law as if the same had been executed by the original holder or holders |