Transfer of assets to new company

And whereas on the first day of March, A.D. 1919, the shareholders of the said "the old company" were incorporated under the provisions of section 17 of chapter 79 of the Revised Statutes of Canada as a company under the said chapter 79 under the name of “Imperial Lumber Yards, Limited";

And whereas the said "the old company" did on the twenty-third day of April, A.D. 1919, by instrument under seal transfer, assign and set over to the new company so incorporated under the provisions of section 17 of chapter 79 aforesaid all the assets, goodwill, interest, rights, franchises, credits, effects and property, real and personal or mixed of "the old company" situate within Saskatchewan;

And whereas it is expedient to confirm the said transfer by the old company to the new company;

Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Saskatchewan, enacts as follows:

1.- (1) All the assets, goodwill, interest, rights, franchises, credits, effects and property, real, personal or mixed, of whatsoever kind, and situate within the Province of Saskatchewan heretofore belonging to the said "the old company," or to which it may be or howsoever hereafter become entitled, shall be and the same are hereby declared to have been as, upon and from the first day of March, A.D. 1919, transferred to and vested in Imperial Lumber Yards, Limited, incorporated pursuant to the provisions of The Companies' Act, Statutes of Canada and amendments thereunto, and hereinafter referred to as "the new company," its successors and assigns to its and to their own use and benefit absolutely for all the estate, right, title, interest, claims, properties or demands which the said "the old company," either jointly or severally, had or were entitled to have on the said first day of March, A.D. 1919, or to which the said. "the old company," either jointly or severally, could thereafter have been or become entitled.

(2) No suit, action or proceedings, either at law or in equity, being carried on, or power or remedy being exercised shall howsoever be discontinued or abated by or on account of this Act, but the same may continue in the name of the said "the old company" originally party to any of such proceedings, suits or actions or exercising any such power or remedy, or in the name of the said "the new company" and the said "the new company" shall have and is hereby declared from the first day of March, A.D. 1919, to have always had the same rights and

remedies in respect of any and all of the said assets, interests, rights, franchises, credits, effects, property, real, personal or mixed, and be subject to the same liabilities, debts, duties and obligations as the said "the old company" had or was subject to in respect thereof, or was subject to in any other respect whatever, and shall pay and receive the like costs as if any such suits, actions or proceedings had been commenced or defended, compromised or exercised in the name of the said "the new company."

treated as

2. This Act shall be in all respects treated for the Act to be purpose of every land titles office and registration office transfer or other public office in the Province of Saskatchewan, and of all transactions therein and of all officers administering the same as a legal and valid deed, grant, conveyance, transfer and assignment of any lands or any interest in lands, or of any mortgages or incumbrances, or of any property of any description, real, personal or mixed, and whether under The Land Titles Act, or any acts amending the same or in substitution therefor, or any other system of registration. or thereafter standing in the name of or vested in the said "the old company" from the said "the old company" to "the new company," and it shall not be necessary to register or to file or issue any further or other instrument, document or certificate showing the transmission or assignment of title from the said "the old company" to the said "the new company," or in the case of lands within the said province under The Land Titles Act to have certificates of title issued in the name of the said

"the new company, unless it shall be requested by the said "the new company," and it shall not be necessary in any discharge of any mortgage, incumbrance, conveyance, deed, grant. assignment, transfer or other instrument of any kind to recite or set out such transmission or assignment of title, but the said company shall not be relieved from payment of any fees which it would have been liable to pay under the said Act if this Act had not been passed, in respect of any matter now pending in any of said offices.

and interest

in chattel

etc., to be

company from

3. And it is hereby further declared that from, on Right, title and since the first day of March, A.D. 1919, there shall of old company be deemed to be vested in and to have always been vested mortgages, in "the new company" since the said date, all the right, deemed to be title and interest of the said "the old company" in vested in new all chattel mortgages, bills of sale, promissory notes, first day of agreements for the payment of money, liens, lien agree-1919 ments, contracts of all kinds, choses in action and judgments in any court within the Province of Saskatchewan, or assets consisting of personal property of any kind

March, A.D.

Pights of creditors

whatsoever within the said province which the said "the old company," then had or could or might thereafter have become entitled to without the necessity of the execution, delivery or registration of any transfer or assignment of any such chattel mortgage, judgment, lien note, bill of sale, agreement for payment of money, lien agreements, contracts, choses in action, judgment, lien note, bill of sale, agreement for payment. of money, lien agreements, contracts, choses in action, judgments or personal property in any public office within the Province of Saskatchewan provided, or to be provided, for the registration thereof.

4. Nothing in this Act shall impair or affect the rights of old company of any creditor of the said "the old company," or of the said "the new company."

not affected

Coming into force of Act

5. This Act shall come into force on the day it is assented to.

CHAPTER 100

An Act to incorporate Capital Securities Company,

W

Limited.

[Assented to February 4, 1920.]

WHEREAS 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 Legislative Assembly of Saskatchewan, enacts as follows:

1. John Raymond Mitchell, investment banker; James Incorporators Lynn Mitchell, investment banker; and Jerome Winthrop Wheeler, investment banker; all of St. Paul, Minnesota; together with such persons as become shareholders in the company, are incorporated under the name of "Capital Securities Company, Limited," hereinafter called "the company".

2. The persons named in section 1 of this Act shall be the provisional directors of the company.

be

Provisional directors

3. The capital stock of the company shall be two Capital hundred and fifty thousand dollars, which may stock increased to five hundred thousand dollars.

4. The head office of the company shall be in the city Head office of Moose Jaw in the Province of Saskatchewan.

5. The company shall have all the powers, privileges Powers and immunities conferred by and be subject to all the limitations, liabilities and provisions of The Loan Companies Act, 1920.