Unpaid bond holders to be in certain cases for directors. after acquired, and each holder of the said bonds shall be deemed to be a mortgagee or incumbrancer upon the said se curities pro rata with all the other bond-holders. 18. If the said company shall make default in paying the come qualified principal or interest of any of the bonds hereby authorized at the time when the same shall, by the terms of the bond, become due and payable, then at the next ensuing general annual meeting of the said company and all subsequent meetings all holders of bonds so being and remaining in default shall, in respect thereof, have and possess the same rights, privileges, and qualifications for directors and for voting at general meetings as would be attached to them as shareholders if they had fully paid up shares of the said company to a corresponding amount; provided nevertheless that the right given by this Proviso as to section shall not be exercised by any bondholder unless the bonds to bonds in respect of which he shall claim to exercise such qualification. rights shall have been first registered in his name in the same manner as is provided by law for the registration of the shares of the said company, and for that purpose the said company shall be bound on demand to register any of the said bonds in the name of the holder thereof, and to register any transfers thereof in the same manner as a transfer of shares; provided also that the exercise of the rights given by this section shall not take away, limit, or restrain any other of the rights or remedies to which the holders of the said bands shall be entitled. registration of secure right of Bonds transferable by delivery until registered. Calls on shares 19. All the bonds, debentures, mortgages and other securities hereby authorized, and the coupons and interest warrants thereon respectively, may be made payable to bearer, and shall in that case be transferable by delivery, and any holder of any such bonds, debentures, mortgages or coupons so made payable to bearer may sue at law thereon in his own name, unless and until registry thereof has been effected in manner provided in the next preceding section, and while so registered they shall be tranferable by written transfer registered in the same manner as in the case of shares, but they shall again become transferable by delivery upon the registration of a transfer to bearer, which the company shall be bound to register on the demand of the registered holder for the time being. 20. The directors may at any time call upon the shareholders for such instalment upon each share which they or any of them may hold in the capital stock of the said company, in such proportion as they may see fit, except that no such instalment shall exceed ten per centum on the subscribed capital, and that thirty days' notice of each call shall be given, in accordance with the by-laws of the company and this Act. arrangements 21. The company shall have power to make running ar- Running rangements with any railway lines in the Province of Mani- with other tobă situate on the line hereby authorized, or cressing or lines. connecting with the same, upon terms to be approved by twothirds of the shareholders, at a special general meeting to be held for that purpose, in accordance with this Act. 22. It shall be lawful for the said company to enter into Leasing an agreement with any other railway company within this powers. Province for leasing the Manitoba Central Railway, or any part thereof, or the use thereof at any time or times, or for leasing or hiring from such other company, any railway or part thereof or use thereof, or for leasing or hiring any locomotives, tenders, plant, rolling stock or other property; or either or both, or any part thereof, or touching any service to be rendered by the one company to the other and the compensation therefor, if the arrangements and agreements shall be approved by two-thirds of the shareholders voting in person or by proxy, at a special general meeting to be called in accordance with this Act for that purpose; and every such agreement shall be valid and binding, and shall be enforced by courts of law according to the terms and tenor thereof, and any company or individual accepting or executing such lease shall be and is hereby empowered to execute all the rights and privileges in this charter conferred. lands for sta 23. Whenever it shall be necessary for the purpose of pro- Acquiring curing sufficient lands for stations or gravel pits, or for con- tions, gravel structing, maintaining and using the said railway, or for open-pits. etc. ing a street to any station from an existing highway, the said company may purchase, hold, use or enjoy such lands, and also the right of way thereto if the same be separated from their railway, and may sell and convey the same, or parts thereof, from time to time as they may deem expedient; and may also make use of for the purposes of the said railway the water of any stream or water-course over or near which the said railway passes, subject to the approval of GovernorGeneral in council as to navigable waters; doing, however, no unnecessary damage thereto, and not impairing the usefulness of such stream or water-course, and the compensation to be paid for such lands or for the use of such water, as also the powers to the owners of the said company to take possession thereof shall, in the case of difference, be ascertained and exercised in the manner provided by the Railway Act of Manitoba. construct 24. The company may also construct across any streams, Power to rivers or lakes which may be in or near the route of the rail- bridges, etc. way a bridge or bridges, where the same shall necessary for the purposes of the railway, but this right shall not be exercised with respect to any navigable portions of any of the Commencement and completion of railway. General Railway Act to apply. said waters without the consent of the Governor-General in council. 25. The railway shall be commenced within two years and completed within ten years after the passing of this Act, and in default thereof the powers hereby conferred shall absolutely cease with respect to so much of the railway as then remains incomplete. 26. The Railway Act of Manitoba, except in so far as varied by this Act, shall be construed as forming part of this Act. SCHEDULE "A." dollars to Know all men by these presents that I (or we) in consideration of me (or as the case may be) by the Manitoba Central Railway Company now paid, the receipt whereof is hereby acknowledged, do grant all that certain parcel of land situate (describe the land), the same having been selected by the company for the purposes of their railway, to hold with the appurtenances thereof unto the said The Manitoba Central Railway Company, their successors and assigns. As witness my hand and seal (or our hands and seals) this thousand eight hundred and Signed, sealed and delivered in my presence, [L. S.] Preamble. CAP. LVII. An Act to incorporate The Selkirk and Portage Central Railway Company. [Assented to 7th July, 1883.] Whereas, the construction of a railway running from the town of Portage la Prairie north-easterly to the town of Selkirk, and south-westerly through the counties of Norfolk, Souris and Turtle Mountain, would be of great benefit to the Province; And whereas a petition has been presented for the incoporation of a company for that purpose; and it is expedient to grant the prayers of such petition; Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Manitoba, enacts as follows: 1. Isaiah Mawhinney, Esquire; Charles Hay, Esquire; Names of Joseph Martin, barrister; Robert Fletcher, gentleman; Ed-corporators. ward McDonald, miller; Arthur Mowat, banker; William McKay, gentleman; James H. Doherty, gentleman; William P. Smith, brickmaker; John P. Young, blacksmith; Thomas Boyd Miller, merchant; Henry Savigny Paterson, merchant; Henry Murdoch Campbell, real estate dealer; Daniel M. J. Hagarty, doctor of medicine; Thomas A. Garland, gentleman ; Samuel McIlvaine, mill owner; Thomas A. Newman, merchant; Francis Ogletree, gentleman; James Cowan, doctor of medicine; Charles Cliffe, publisher; all of the town of Portage la Prairie; William Wagner, M. P. P., Ossawa; Samuel J. Jackson, M. P. P., Stonewall; John Allan, M. P. P., Winnipeg; Jas. Colcleugh and Robert Bullock, Selkirk; A. G. B. Bannatyne, Winnipeg; Samuel Lawrence Bedson, Esq., of Stony Mountain; Thomas Sinclair and David Young, Esq., M. Ď., of St. Andrew's; together with all such persons and corporations as shall become shareholders in the company hereby incorporated, shall be and are hereby constituted a body corporate and politic by and under the name of "The Selkirk and Portage Central Railway Company." company to certain 2. The said company shall have full power and authority to Power of lay out, construct and operate a railway, with double or single construct a iron or steel track, and an electric telegraph along the same; railway. such railway to commence at or near the town of Portage la Prairie, thence running north-easterly to the town of Selkirk, and also south-westerly to a point on the line between ranges 28 and 29, w of the 1st principal meridian, and at no point shall such railway line approach 16 miles of the international boundary line. directors. 3. The said Isaiah Mawhinney, Charles Hay, Joseph Martin, Provisional Edward McDonald, Robert Fletcher, Arthur Mowat, Daniel M. J. Hagarty, W. Wagner, John Allan, S. J. Jackson, J. Colcleugh, R. Bullock and A. G. B. Bannatyne, shall be and are hereby constituted provisional directors of the said company, of whom five shall be a quorum, and shall hold office as such until other directors shall be elected under this Act, and shall have power forthwith to open stock books and procure subscriptions for stock for the undertaking, and to receive payment on account of stock subscribed; and to make calls upon subscrib- Subscription ers in respect of their stock, and to sue for and recover the same, and to cause plans and surveys to be made, and to acquire any plans and surveys now existing, and to deposit in any chartered bank of Canada all moneys received by them on account of stock subscribed, and to withdraw the same for of stock. May receive the purposes of undertaking, as set forth in the next succeeding clause of this Act, and to receive for the company any gray receive grant, loan, bonus or gift made to it in aid of the undertakof undertaking ing, and to enter into any agreement respecting the conditions or disposition of any gift or bonus in aid of the railway. Capital stock, how divided and applied. be paid up. 4. The capital stock of the company shall be $500,000 (with power to increase the same) to be divided into 500 shares of $100 each, and shall be raised by the persons above mentioned and such other persons and corporations as may become shareholders in such stock; and the money so raised shall be applied in the first place to the payment of all fees, expenses and disbursements, for procuring the passing of this Act, and for making the surveys, plans and estimates, or purchasing those already made, connected with the works hereby authorized; and all the remainder of such money shall be applied to the making, equipping and maintaining of the said railway and other purposes of this Act. Per centage to 5. No subscription for stock in the capital of the company shall be binding on the company unless ten per cent. of the amount subscribed has been actually paid thereon within one month after subscription. Bonuses in aid of construction etc. General meet ing after one subscription. 6. The said company may receive either from any government, or from any persons or bodies corporate, municipal, or politic, bonuses, lands and loans, or gifts of money, or securities for money, in aid of the construction, equipment and maintenance of said railway. 7. When and so soon as one-fifth of the said capital stock fifth of stock shall have been subscribed as aforesaid, and ten per centum paid thereon, the provisional directors shall call a general meeting of the subscribers to the said capital stock, at the town of Portage la Prairie, for the purpose of electing directors of the said company, giving notice by four insertions in two newspapers published weekly in the Province, and two insertions in the Manitoba Gazette. Election of directors. Shareholders qualification 8. At such general meeting, the subscribers for the capital stock assembled who shall have so paid up ten per centum thereof, with such proxies as may be present, shall choose nine persons to be directors of the said company (of whom five shall be a quorum), and may also pass such rules, regulations and by-laws as may be deemed expedient, provided they be not inconsistent with this Act or "The Railway Act of Manitoba." 9. In the election of directors under this Act, and in the as directors. transaction of all business at general shareholders' meetings, each shareholder shall be entitled to one vote, either in person |