CHAP. 46. An Act to incorporate the Canada Eastern Railway Company. [Assented to 15th May, 1902.] WHEREAS the Alexander Gibson Railway and Manufactur- Preamble. ing Company has, by its petition, represented that by chapter 59 of the statutes of 1898 the undertaking of the 1898, c. 59. Canada Eastern Railway Company was sold, transferred to and merged in the said first named company, and has since been operated by the said company; and whereas the said company has prayed that its railway undertaking be separated from its manufacturing business; and the persons hereinafter named have, by their petition, prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the said petition: Therefore His Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, declares and enacts as follows: 1. Alexander Gibson, senior, Alexander Gibson, junior, IncorporaJames Gibson, John R. McConnell, Charles H. Hatt and tion. Frank Merritt, all of the town of Marysville, in the province of New Brunswick, together with such persons as become shareholders in the company, are incorporated under the name of "The Canada Eastern Railway Company," hereinafter Corporate called "the Company." name. 2. The undertaking of the Company is declared to be a Declaratory. work for the general advantage of Canada. 3. The persons named in section 1 of this Act are consti- Provisional tuted provisional directors of the Company. directors. 4.. The capital stock of the Company shall be three million Capital stock. dollars, and may be called up by the directors from time to time as they deem necessary, but no one call shall exceed ten per cent on the shares subscribed. Head office. Annual meeting. Election of directors. Power to acquire railway undertaking of Alexander Railway and 1898, c. 59. 1890, c. 74. Approval of shareholders and Governor in Council. Notice of application for sanction. Agreement to 5. The head office of the Company shall be in the town of Marysville. 6. The annual meeting of the shareholders shall be held on the first Wednesday in September in each year. 7. At such meeting the subscribers for the capital stock assembled, who have paid all calls due on their shares, shall choose not less than five nor more than nine persons to be directors of the Company, the number of whom shall be determined by by-law of the Company, and one or more of whom may be paid directors. 8. The Alexander Gibson Railway and Manufacturing Company may sell, transfer and assign to the Company its railway undertaking, together with the railway and branches, rights, franchises, powers, privileges and property of the said railway undertaking, and thereupon the Company may take and operate the said railway, and may hold the said property and may exercise the said rights, franchises, powers and privileges with all the rights and powers in respect thereof, and, in addition to the rights, franchises, powers and privileges conferred upon the Company by The Railway Act, the Company may exercise all the rights, franchises, powers and privileges conferred upon the Alexander Gibson Railway and Manufacturing Company (so far as relate to its railway undertaking) by chapter 59 of the statutes of 1898, and shall also be vested with and may exercise all the rights, franchises, powers and privileges previously to the said Act of 1898 conferred upon the Canada Eastern Railway Company by any Act of Parliament, and shall be subject to all restrictions, obligations, charges and liabilities mentioned in such Acts; provided that such sale has been first sanctioned by the consent in writing of every shareholder of the Alexander Gibson Railway and Manufacturing Company or, failing such consent, then by twothirds of the votes of the shareholders present or represented by proxy at a special general meeting duly called for the purpose, (of which two weeks' notice shall be sufficient,) and by the approval of the Governor in Council, after notice of the proposed application therefor has been published in The Canada Gazette and also in a newspaper published at St. John, New Brunswick, for at least two weeks previous to the hearing of such application. 2. A duplicate of the instrument of sale referred to in subsection 1 of this section shall, within thirty days after its execution, be filed in the office of the Secretary of State of Canada, and notice thereof shall be given by the Company in The Canada Gazette, and the production of The Canada Gazette containing such notice shall be prima facie evidence of the requirements of this section having been complied with. 9. The Company may issue bonds, debentures or other Bond issue. securities to the extent of twenty thousand dollars per mile of the railway and branches, and such bonds and debentures or other securities may be issued only in proportion to the length of railway constructed or under contract to be constructed. of bonds. 10. The bonds authorized by this Act shall be first used Application and applied towards the redemption and discharge of all bonds now existing as a lien or charge upon the whole or any part of the railway undertaking of the Alexander Gibson Railway and Manufacturing Company. with 11. The Company may enter into an agreement with the Agreement Fredericton and St. Mary's Bridge Company for acquiring by Fredericton purchase, lease or otherwise any rights or powers acquired and St. Mary's Bridge Co. under the Acts relating to that company, also the franchises, surveys, plans, bridge, works, plant, material, machinery and other property to it belonging, or for an amalgamation with such company on such terms and conditions as are agreed upon and subject to such restrictions as to the directors seem fit; provided that such agreement has been first approved by Approval of two-thirds of the votes at a special general meeting of the shareholders shareholders duly called for the purpose of considering it, at in Council. which meeting shareholders representing at least two-thirds in value of the stock are present or represented by proxy, and that such agreement has also received the sanction of the Governor in Council. and Governor for sanction. 2. Unless the said agreement has been approved by every Notice of shareholder in each company party thereto, the sanction of application the Governor in Council shall not be signified until after the notice of the proposed application therefor has been published in the manner and for the time set forth in section 239 of The Railway Act, and also for a like period in one of the newspapers in each of the counties through which the railway of the Company runs, and in which a newspaper is published. 3. A duplicate of the agreement referred to in subsection Agreement 1 of this section shall, within thirty days after its execution, with be filed in the office of the Secretary of State of Canada, and Secretary notice thereof shall be given by the Company in The Canada Gazette, and thereupon such amalgamation shall be deemed to be complete and operative according to the terms of the said agreement, and the production of The Canada Gazette containing such notice shall be prima facie evidence of the requirements of this section having been complied with. to be filed of State. 12. The Company may pay for the railway undertaking Payment for mentioned in section 8 of this Act, and for the undertaking of undertaking by Company's the Fredericton and St. Mary's Bridge Company mentioned in stock and section 11 of this Act, by issuing to the Alexander Gibson Rail- bonds. way and Manufacturing Company and to the Fredericton and St. Mary's Bridge Company, or the individual shareholders of either of the said companies, shares of stock and bonds of the 29 Company Powers of Power. Patent rights. Surplus power. Wharfs, elevators and tramways. Vessels. Telegraph lines. Company hereby incorporated, and such shares shall be issued as fully paid up and non-assessable. 13. The Company may, in connection with its business and for the purposes of its railway undertaking,— (a.) acquire lands and erect, use and manage works, and manufacture machinery and plant for the generation, transmission and distribution of electric power and energy and other motive power; (b.) acquire exclusive rights in letters patent, franchises and patent rights for the purpose of the works and undertakings hereby authorized, and again dispose of such rights; (c.) sell or lease any surplus power which it may develop or acquire either as water power or other motive power, or by converting the same into electricity or other force for the distribution of light, heat or power or for all purposes for which electricity or other motive power can be used, and may transmit the same; (d.) construct, acquire, lease and dispose of piers, wharfs, docks, storehouses, elevators and tramways, and may charge tolls or rates for the use of the said wharfs, storehouses, elevators and tramways; (e.) construct, acquire, charter and operate steam and other vessels for the purpose of carrying freight and passengers to and from points in Canada, and may dispose of such vessels, and may charge tolls or rates for passengers or freight carried thereon. 14. The Company may construct and operate telegraph and telephone and telephone lines upon and along the whole length of its railway and branches, and may establish offices for the trans mission of messages for the public and collect tolls for so doing; and for the purposes of operating such telegraph and telephone lines the Company may enter into a contract with any other company, or may lease the Company's lines or any part thereof, and may connect its lines with the lines of any telegraph or telephone company. with telegraph Arrangements 2. The Company may enter into arrangements with any and telephone telegraph or telephone company for the exchange or transmission of messages, or for the working in whole or in part of the lines of the Company. companies. Rates to be approved. R.S.C., c. 132. 3. No rates or charges shall be demanded or taken from any person for the transmission of any message by telegraph or telephone, or for leasing or using the telegraphs or telephones of the Company, until such rates or charges have been approved by the Governor in Council, and such rates and charges shall be subject to revision, from time to time, by the Governor in Council. 4. The Electric Telegraph Companies Act shall apply to the telegraphic business of the Company. bonds of 15. The Company may acquire, hold and dispose of stock Holding and bonds in any other company, provided that such power another shall not be exercised unless and until the directors have been company. expressly authorized by a by-law passed by them for the purpose and sanctioned by a vote of not less than two-thirds in value of the shareholders present or represented by proxy at a special or general meeting of the Company duly called for the purpose of considering the subject of such by-law, and such by-law shall also be subject to the approval of the Governor in Council. OTTAWA: Printed by SAMUEL Edward DAWSON, Law Printer to the King's most Excellent Majesty. |