Calls on shares. Interest on arrears of calls. Liability for calls. Proceedings in suits on calls. Necessary evidence in such suits. Forfeiture and sale of shares when calls unpaid. all other matters connected with the company (except transfer), be deemed the sole holder thereof; shares in the company shall not be sub-divided. 39. The directors may from time to time make such calls upon the shareholders in respect of moneys unpaid upon their respective shares as they shall think fit; provided that, twenty-one days at the least before the day appointed for such call, notice thereof shall be served on each shareholder liable to pay the same; but no call shall exceed the amount of ten dollars per share, and the period of three months at least shall intervene between successive calls until twenty-five per cent. has been paid. 40. A call shall be deemed to have been made at the time when the resolution of the directors authorizing such call was passed; and, if the shareholder shall fail to pay any call due from him before or on the day appointed for the payment thereof, he shall be liable to pay interest thereon at the rate of not exceeding ten per cent. per annum from the day appointed for payment to the actual payment thereof. 41. Each shareholder shall be liable to pay the amount of any call so made upon him to such person and at such time and place as the directors shall appoint. 42. In actions to be brought by the company against any shareholder to recover any money due by him in his character as a shareholder for any call, or on any account, it shall not be necessary to set forth the special matter, but it shall be sufficient for the company to prove that the defendant is a shareholder of the company and is indebted to the company in respect to one call or more, or other money due, whereby an account hath accrued to the company by virtue of this Act. 43. On the trial of any such action the company stall prove that such call was in fact made and such notice thereof given as is directed by this Act. And it shall not be necessary to prove the appointment of the directors who made such call or any other matter whatsoever, and thereupon the company shall be entitled to recover what shall be due upon such call, with interest thereon at the rate aforesaid. 44. If any shareholder shall refuse or neglect to pay the instalments due upon any share or shares held by him, the directors may forfeit such share or shares, together with the amount previously paid thereon, in such manner as may be provided by the by-laws, and such forfeited share or shares may be sold by the directors after thirty days' notice, to be proceeds of sent by post prepaid and registered to the last known address of such shareholder, and the moneys arising therefrom shall be applied towards the payment of such unpaid instalments, with interest and expenses of sale. Provided always Disposal of that in case the money realized by any sale of shares be more al than sufficient to pay all arrears and interest, together with the expense of such sale, the surplus of such money shall be paid on demand to the former shareholder, and no more shares shall be sold than shall be necessary to pay the arrears due by said shareholder, with interest and expenses of sale. in suits on calls. 45. If payment of such arrears, calls, interest and ex- Proceedings penses be made before any share so forfeited shall have been sold, such share shall revert to the owner, as if the same had been duly paid before forfeiture thereof; and, in all actions of such arrears or calls, it shall be or suits for the recovery sufficient for the company to allege that the defendant, being the owner of such shares, is indebted to the said company in such sum of money as the calls in arrears amount to, for such and so many shares, whereby an action has accrued to the company by virtue of this Act, and on the trial it shall Evidence be only necessary to prove that the defendant was owner of necessary. the said shares in the company, and that said calls were made, and that notice was given as directed by this Act, and it shall not be necessary to prove the appointment of the directors who made such calls or any other matter whatsoever than by this section specially required, and any copy or extract of any by-law, rule, regulation or minute, or of any entry in any book of the company, certified to be a true Certified copy or extract under the hand of the president or vice-evidence. president, the manager or secretary of the company, and sealed with the corporate seal thereof, shall be received in all courts and proceedings as prima facie evidence of such by-law, rule, regulation, minute or entry without any further proof thereof, and without proof of the official character or signature of the officer signing the same, or of the corporate seal. copies control issue 46. The directors may reserve the issue of any portion Directors to of the shares constituting the present capital of the company of shares. until such time as they think expedient, and may issue any portion of them from time to time as and when they shall think proper. dividends. 47. Notice of any dividend that may have been declared Notice of shall be given in at least one newspaper published in the City of Brandon and in a newspaper published in any other city or cities which may be named by the directors; and no dividend shall bear interest against the company. Head office. Service of process on company. Summonses, of. Mailing notices to 48. The company shall at all times have an office in the City of Brandon, in Manitoba, and they may establish agencies elsewhere as they may deem expedient. 49. Any summons, statement of claim, notice, order or other document required to be served upon the company in any Province may be served by leaving the same at the company's office in the Province where such should be by law there served, with any grown person in the employ of the company. 50. Any summons, notice, order or proceeding requiring authentication by the company, may be signed by any direc tor, the manager or other authorized officer of the company, and need not be under the common seal of the company, and the same may be written or in print, or partly in writing and partly in print. 51. A notice or other document served by post by the shareholders. company on a shareholder, addressed to such shareholder at his last known post office address, shall be taken as served at the time when the letter containing it would be delivered in the ordinary course of post, and proof that such letter was addressed as aforesaid, and was put into the post office, and the time when it was put in, and the time requisite for its delivery in the ordinary course of post, shall be sufficient proof of such service. 52. This Act shall come into force on the day it is assented to. CHAPTER 104. An Act respecting "The Central Manitoba Trust Company." [Assented to March 16th, 1906.] WHEREAS the Central Manitoba Trust Company have Preamble. petitioned to be incorporated under the title of "The Central Manitoba Trust Company," for the purpose of carrying on a loan and trust company; and whereas it is deemed expedient to grant the prayer of said petitioners, Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: 1. Edward Brown, merchant; Thomas A. Newman, mer- Incorporators. chant; John O. Cadham, merchant; W. Scott Garrioch, real estate agent; John J. Garland, merchant, and Edward Anderson, barrister-at-law, all of the Town of Portage la Prairie, in the Province of Manitoba, and all other person or persons, body or bodies politic, as shall from time to time be possessed of any share or shares in the company, shall be united into a company and shall form a body politic and cor- Incorporation. porate by the name of "The Central Manitoba Trust Company" (hereinafter called the company), and by that name shall have perpetual succession and a common seal, with power to alter such seal, and by that name sue and be sued, plead and be impleaded in all courts whatsoever. 2. The capital stock of the company shall be five hundred Capital stock. thousand dollars, divided into five thousand shares of one hundred dollars each, and may be increased to an amount Increase of. not exceeding one million dollars by a vote of two-thirds of the shareholders present or represented at any annual meeting or special meeting to be called for that purpose; provided that stock to the amount of fifty thousand dollars shall be subscribed, and ten thousand dollars paid thereon, before the company shall go into operation. the capital. 3. The company is hereby empowered to lay out and Investment of invest its capital, in the first place, in paying and discharging all costs, charges and expenses incurred in applying for and obtaining this Act, and all other expenses preparatory or relating thereto, and the remainder of such capital and accumulated profits, or so much thereof as may from time to money lent. time be deemed necessary, in the manner and for the purposes hereinafter mentioned, that is to say, the company may from time to time lend and advance money by way of loans on the security of real estate, or on the public securities of the Dominion of Canada, or on the securities of the various Provinces of the Dominion of Canada, or on the debentures of any school district or of any corporation issued under any statutory authority, or on the stock or shares of any incorporated bank, and upon such terms and conditions as the company shall deem satisfactory or expedient; with power to do all acts that may be necessary for the advancing of such sums of money or for Security for taking security for the repayment thereof, and for receiving and obtaining interest (if any) accruing from such sums so advanced, and for the fulfilment of any condition annexed to such advance, or any forfeiture of any term, or delay of payment consequent on on the non-fulfilment thereof; and to give receipts and acquittances and discharges for the same, either wholly and absolutely or partially; and for all and every and any of the foregoing purposes, and for every other purpose in this Act mentioned or referred to, the company may lay out and apply any of the moneys authorized to be hereafter raised by the company, in addition to its capital for the time being, with power to do, authorize and exercise all acts and powers whatsoever in the opinion of the directors of the company requisite or expedient to be done or exercised in relation thereto, not inconsistent with this Act or the laws of the Province. Trust powers generally. Investments of trust funds. as an 4. The company is hereby empowered to act agency and trust company, and either on its own behalf or for and on behalf of others who shall entrust them with money for that purpose, to lend and advance money to any person or persons on the security of real estate, or on the public securities of the Dominion of Canada, or on the securities of the various Provinces of the Dominion of Canada, or on the debentures of school districts or any other corporation issued under any statutory authority, or on the stock or shares of any incorporated bank, or upon any other securities as set forth in "The Manitoba Trustee Act," and upon such terms and conditions as to the company shall appear satisfactory; and the condition of such loans and advances may be enforced by the company for its benefit, or for the benefit of the person or persons, or corporations, for whom such money has been lent and advanced, and the company shall have the same powers in respect of said loans and advances as are conferred upon it in respect to loans and advances made from its own capital, and it may also guarantee either the |