whole number of shares authorized by this Act, at one and the subscription same time, but it shall and may be lawful for the said Direc- for such numtors, and they are hereby authorized, from time to time, to limit ber of Shares the number of Shares for which the books of subscription shall deem advis as they may be opened as aforesaid at any one time, as they in their discre- able. tion may deem most advisable.

additional Stock.

V. The several provisions contained in the eighth section of Eighth section an Act of the Parliament of this Province, passed in the of 12 V. c. 143 to be applica sixteenth year of Her Majesty's Reign, intituled, An Act to ble to instalauthorize an addition to the Capital Stock of the Quebec Bank, ments due on to facilitate the transfer of Shares in certain cases, and for other purposes relative to the said Bank, shall be held applicable to, and shall govern respectively all cases in which any Shareholder or Shareholders shall refuse or neglect to pay any or either of the instalments upon his, her or their Shares of the said additional Capital Stock authorized by this Act, at the time or times and in the manner to be appointed by the Directors of the said Bank as aforesaid; any thing in this or any other Act or law to the contrary notwithstanding.

invested in

VI. It shall be the duty of the Directors of the said Bank to Que tenth of invest, as speedily as the debentures hereinafter mentioned can the paid up be procured from the Receiver General, and to keep invested at Capital to be all times, in the debentures of this Province payable within the Provincial same, or of the Consolidated Municipal Loan Fund, one tenth Securities. part of the whole paid up capital of the said Bank, and to make a return of the numbers and amount of such debentures, verified by the oaths and signatures of the President and Chief Cashier or Manager of the said Bank, to the Inspector General, in the month of January of each year, under the penalty of the forfeiture of the Charter of the said Bank in default of such investment and return: Provided always, that the said Bank Proviso. shall not be bound to invest any portion of its capital in Debentures, under the provisions of this section, unless it shall avail itself of the power to add to its present Capital Stock, pursuant to this Act: And provided also, that the said power hereby Proviso. conferred to add to its capital Stock, shall cease and determine, unless the said Bank shall, by instrument under its corporate seal, signify to the Governor in Council, within one year after the passing of this Aet, its intention to avail itself of the said power to add to its Capital Stock, as aforesaid, and to what

amount.

other Acts

VII. This Act and the Act of Incorporation of the said Bank, Duration of and any Act amending the same, shall be and remain in force this Act and until the first day of January, which will be in the year of our relating to the Lord, one thousand eight hundred and seventy, and from that Bank. time till the end of the then next session of the Parliament of this Province, any thing in the said Act of Incorporation contained to the contrary notwithstanding, and no longer: Provided Proviso. always, that the extension of time in this clause enacted, shall

not

Moldy

statements required in

place of halfpearly.

Public Act.

not take place unless the said Bank shall signify its intention to add to its capital stock within one year after the passing hereof, in the manner provided under the next preceding section.

VIII. The statement required by the eleventh section of the first above cited Act to be made semi-annually by the said Corporation, shall be made on the first Monday in each and every month, in the manner provided by the said section of the said Act.

Preamble.

Shares to be increased in value from

An Act to amend the several Acts incorporating the City
Bank, and to add to its Capital Stock.

W

[Assented to 18th December, 1854.] 7HEREAS by an Act of the Legislature of this Province, passed in the Session thereof held in the twelfth year of Her Majesty's Reign, Chaptered one hundred and eighty-five, the Shares in the Capital Stock of the City Bank, by reason of the losses theretofore sustained by the said Bank, were reduced from the sum of twenty-five pounds currency each, to the sum of eighteen pounds fifteen shillings currency each; And whereas since the passing of the said Act, the profits of the said Bank, now forming part of its Reserved Fund, warrant an increase in the amount of the said Shares, and the President and Directors of the said Bank have prayed, that they be authorized to add so much of the said profits in hand to the present nominal amount of the shares as will increase the said shares to the sun of twenty pounds currency each, and it is expedient to grant the prayer of their said Petition: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, as follows:

I. It shall and may be lawful for the Directors of the said Bank, by a resolution to that effect, to appropriate so much of £18 15 each the reserved profits of the said Bank, as shall be necessary to to £20 each. increase each and every of the shares in the Capital Stock thereof, to the sum of twenty pounds currency, to wit, to add the sum of one pound five shillings currency to each and every of the present twelve thousand shares of eighteen pounds fifteen shillings currency each, and thereby to increase the subscribed and paid up Capital Stock of the said Bank to the

sum

sum of two hundred and forty thousand pounds currency instead. of two hundred and twenty-five thousand pounds, as it now is; and to carry out the authority hereby given, in all particulars and details, it shall be lawful for the Directors to do all things needful and requisite as much as if special authority were hereby conferred.

II. And whereas from the present prosperous condition of Recital. the affairs of the said City Bank, it has been deemed expedient to restore the Capital Stock thereof to the amount from which it was reduced by the Act aforesaid, and the said City Bank hath petitioned for authority to increase its Capital Stock accordingly, namely, to the sum of three hundred thousand pounds; Be it enacted, That it shall and may be lawful for Capital to be the said City Bank, at such time or times as the Directors by increased to resolution to that effect may appoint, to add to its Capital £300,000, Stock, either at one or more time or times, and in such amounts as may be deemed expedient, the sum of sixty thousand pounds in addition to the fifteen thousand pounds authorized to be added by the foregoing section of this Act, which said sum of sixty thousand pounds shall be divided into three thousand shares of twenty pounds currency each, and which shares shall and may be subscribed for either in or out of this Province, in such proportion and numbers, and at such times and places, and under such regulations as the Directors shall from time to time establish; and it shall be lawful for the Directors to determine on what conditions and terms the proprietors of other stock in the said Bank shall be entitled to a preemptive right to any new stock, and the shares subscribed for shall be paid in and by such Instalments, and at such times and places as the said Directors may from time to time appoint: Provided Proviso. always, that no share shall be held to be lawfully subscribed for unless ten per centum thereof at the least be paid at the time of subscription; Provided always, that all and every the Proviso: provisions and conditions contained in the third and fourth Enactments of sections of the Act passed by the Legislature of this Province, 4 & 5 V. c. 97, in the Session thereof held in the fourth and fifth years of Her Majesty's Reign, intituled, An Act to extend the Charter of the City Bank and to increase the Capital Stock thereof, with respect to the subscription for and the manner of payment of the said stock, and the penalties and consequences for non-payment thereof, shall be and the same are hereby expressly extended and made applicable, except in so far as the same may be varied by this Act, to the additional shares hereby authorized to be raised; And provided also, that the right to raise and Proviso: subscribe for such additional stock shall exist only for five additional years, and all shares of additional stock subscribed for in that Shares to be paid up in interval shall be paid up in full within the said period of five five years. years, after which time the power hereby given, as to any shares not subscribed and paid for, shall cease and be of no effect.

to be observed.

New Shares

may be paid

up at once.

As to Premium

thereon.

III. Provided always, that when any person or party desirous of subscribing for shares of the additional Capital Stock authorized by this Act, shall also be willing to pay up at the time of subscribing the full amount of the shares subscribed for, together with any premium thereon that the Directors may appoint, it shall and may be lawful for the Directors of the Bank, within the aforesaid period of five years, to admit and receive such subscriptions and full payment, together with such premium as at the time of subscribing shall or may be agreed upon; and in every such case the premium so received shall be carried to the account of the ordinary profits of the Bank.

Dividends &c., IV. Shares of the Capital Stock of the Bank may be made Shares may be transferable and the dividends accruing thereon may be made made payable, and transfer payable in Great Britain, in like manner as such shares and able out of the dividends are now respectively transferable and payable at the

Province

express transfer in the usual form.

Bank, in the City of Montreal; and to that end the Directors may, from time to time, make such rules and regulations, and prescribe such forms, and appoint such agent or agents as they may deem necessary.

Bank may reV. If the interest in any share in the said Bank become quire proot of transmitted in consequence of the death or bankruptcy or change of owninsolvency of any Shareholder, or in consequence of the mar erships of Stock other riage of a female Shareholder, or by any other lawful means wise than by than by a transfer according to the provisions of the Act of Incorporation of the said Bank, the Directors may require such transmission to be authenticated by a declaration in writing, as hereinafter mentioned, or in such other manner as the Directors of the Bank shall require, and every such declaration or other instrument so signed, made and acknowledged, shall be left at the Bank with the Cashier or other Officer or Agent of the Bank, who shall thereupon enter the name of the party entitled under such transmission, in the Register of Shareholders, and until such transmission shall have been so authenticated, no party or person claiming by virtue of any such transmission shali be entitled to receive any share of the profits of the Bank nor to vote in respect of any such share or shares as the holder thereProviso: as to of: Provided always, that every such declaration and instruauthentication ment as by this and the following section of this Act is required of such proof to perfect the transmission of a share of the Bank, and as shall

be made in any other country than in this or some other of the British Colonies in North America or in the United Kingdom of Great Britain and Ireland, shall be further authenticated by the British Consul or Vice-Consul or other the accredited representative of the British Government in the country where the declaration shall be made, or shall be made directly before such British Consul or Vice-Consul, or other accredited repreProviso: as to sentative: And provided also, that nothing in this Act contained shall be held to debar the Directors, Cashier or other Officer or Agent of the Bank from requiring corroborative evidence of any fact or facts alleged in any such declaration.

further evi

dence.

riage of fe

VI. If the transmission of any share of the Bank be by virtue. If the change of the marriage of a female shareholder, the declaration shall of ownership contain copy of the register of such marriage or other particulars be by marof the celebration thereof, and shall declare the identity of the male sharewife with the holder of such share, and if the transmission have holder, or by taken place by virtue of any Testamentary Instrument or by In- will, &c. testacy, the Probate of the Will or the Leffers of Administration or of Tutorship or Curatorship, or an official extract therefrom, or true copies duly certified, of all such documents which would be necessary to establish in a Court of Justice such transmission, shall, together with such declaration, be produced and left with the Cashier or other Officer or Agent of the Bank, who shall then enter the name of the party entitled under such transmission in the Register of Shareholders.

have reason

VII. Whenever the interest in any share or shares of the Ca- Case where pital Stock of the said City Bank shall be transmitted by the the Bank shall death of any shareholder or otherwise, or whenever the owner- able doubts as ship of, or legal right of possession, in any such share or shares, to the ownershall change by any lawful means other than by transfer accord- ship of Shares, ing to the provisions of the Act of Incorporation of the Bank provided for. and of this Act, and the Directors of the said Bank shall entertain reasonable doubts as to the legality of any claim to and upon such share or shares of Stock, then and in such case it shall be lawful for the said City Bank to make and file, in the Superior Court for Lower Canada, a declaration and petition in writing addressed to the Justices of the said Court, setting forth the facts and the number of shares previously belonging to the party in whose name such shares stand in the Books of the Bank, and praying for an Order or Judgment adjudicating and awarding the said shares to the party or parties legally entitled to the same, and by which Order or Judgment the Bank shall be guided and held fully harmless and indemnified and released from all or every other claim for the said shares or arising therefrom: Provided always, that notice of such peti- Proviso. tion shall be given to the party claiming such shares, who shall, upon the filing of such petition establish his right to the several shares referred to in such petition; and the delays to plead and all other proceedings in such cases shall be the same as those observed in interventions in cases pending before the said Superior Court: Provided also, that the costs and expenses of Proviso: Costs. procuring such order and adjudication shall be paid by the party or parties to whom the said shares shall be declared lawfully to belong, and such shares shall not be transferred until such costs and expenses be paid, saving the recourse of such party against any party contesting his right.

Bank not

VIII. The Bank shall not be bound to see to the execution of any trust, whether express, implied or constructive, to which bound to see any of the shares of the Bank may be subject, and the receipt to trust to of the party in whose name any such share shall stand in the which Shares Books of the Bank, or if it stand in the names of more parties ject.

than

may be sub