forfeiture as to

77. Every such forfeiture shall be an indemnification to CHAP. 99. and for every shareholder so forfeiting, against all actions, Effect of suits or prosecutions whatsoever commenced or prosecuted liability. for any breach of contract or other agreement between such shareholder and the other shareholders with regard to carrying on the undertaking. R. S., c. 53, s. 20, (11). R. A., s. 82.

shares may be

18. The directors may sell, either by public auction or Forfeited private sale, and in such manner and on such terms as to sold them seem meet, any shares so declared to be forfeited, or any unissued shares, or may pledge such shares for the payment of loans or advances made or to be made thereon, or for the payment of any sums of money borrowed by or advanced to the company: Provided that authority for such Proviso: purpose and for the issue of the stock is first given at a obtained. special general meeting of the shareholders called for the purpose. R. S., c. 53, s. 20, (12). R. A., s. 83.

authority to be

treasurer to be

feiture and of

chaser.

79. A certificate of the treasurer of the company that Certificate of the forfeiture of the shares was declared, shall be sufficient evidence of forevidence of the fact, and of their purchase by the purchaser; title of purand such certificate, with the receipt of the treasurer for the price of such shares, shall constitute a good title to the shares; and the certificate shall be, by the said treasurer, registered in the name and with the place of abode and occupation of the purchaser, and shall be entered in the books required to be kept by the by-laws of the company; and such purchaser shall thereupon be deemed the holder of such shares, and shall not be bound to see to the application. of the purchase money,-and his title to such shares shall not be affected by any irregularity in the proceedings in reference to such sale; and any shareholder may purchase any shares so sold. R. S., c. 53, s. 20, (13). R. A., s. 84. 80. Any shareholder who is willing to advance the Interest on sums amount of his shares, or any part of the money due upon his shares beyond the sums actually called for, may pay the same to the company,-and upon the principal moneys so paid in advance, or so much thereof as, from time to time, exceeds the amount of the calls then made upon the shares in respect to which such advance is made, the company may pay such interest, at the lawful rate of interest for the time being, as the shareholders, who pay such sum in advance, and the company agree upon; but such interest shall not be paid out of the capital subscribed. R. S., c. 53, s. 20, Proviso. (14). R. A., s. 85.

81.

paid in advance.

Every shareholder shall be individually liable to the Liability of

shareholders.

CHAP. 99. creditors of the company for the debts and liabilities of the company, to an amount equal to the amount unpaid on the stock held by him, and until the whole amount of his stock has been paid up; but no such shareholder shall be liable to an action in respect to his said liability until an execution at the suit of the creditor against the company has been returned unsatisfied in whole or in part. R. S., c. 53, s. 23, (1). R. A., s. 86.

Aliens to have equal rights.

Record of shareholders.

Time for con

struction limited.

Powers.

To enter lands for surveys, &c.

To receive grants of land, &c.

82. All shareholders in the company, whether British subjects or aliens, or resident in Canada or elsewhere, shall have equal rights to hold stock in the company and to vote on the same, and shall be eligible to office in the company. R. A., s. 87.

83. A true and perfect account of the names and places of abode of the several shareholders shall be entered in a book, which shall be kept for that purpose, and which shall be open to the inspection of the shareholders. R. S., c. 53, s. 23, (3). R. A., s. 88.

LIMITATION OF TIME.

84. If the construction of the railway is not commenced, and fifteen per centum on the amount of the capital stock is not expended thereon, within two years after the passing of the Act authorizing the construction of the railway, or if the railway is not finished and put in operation in seven years from the passing of such Act, then the powers granted by such Act or by this Chapter shall cease, and be null and void as respects so much of the railway as then remains uncompleted. R. A., s. 89.

GENERAL POWERS.

85. The company may, subject to the provisions in this Chapter and the special Act contained :

(a.) Enter into and upon any lands of Her Majesty
without previous license therefor, or into and upon
the lands of any person whomsoever, lying on the
intended route or line of the railway; and make
surveys, examinations, or other necessary arrange-
ments on such lands for fixing the site of the
railway, and set out and ascertain such parts of the
lands as are necessary and proper for the railway;
(b.) Receive, take and hold all voluntary grants and
donations of lands or other property or any bonus of
money or debenture, or other benefit of any sort,
made to it for the purpose of aiding in the construc-

tion, maintenance and accommodation of the railway; CHAP. 99. but the same shall be held and used for the purpose of such grants or donations only;

sell land,

(c.) Purchase, take, and hold, of and from any person, To purchase and any lands or other property necessary for the construction, maintenance, accommodation and use of the railway, and also alienate, sell or dispose of so much. thereof as is not necessary for the purposes of the railway;

across lands.

(d.) Make, carry or place the railway across or upon To carry railway the lands of any person on the located line of the railway, or within one mile thereof, or within such further distance from such line as is prescribed in the special Act;

(e.) Fell or remove any trees which stand within six To fell trees. rods from either side of the railway or which are liable to fall across the railway track;

other railways.

tunnels, &c.

(f.) Cross, intersect, join and unite the railway with To cross, &c., any other railway at any point on its route, and upon the lands of such other railway, with the necessary conveniences for the purposes of such connection; (g.) Make or construct in, upon, across, under or over To make bridges, any railway, tramway, river, stream, watercourse, canal or highway which it intersects or touches, temporary or permanent inclined planes, tunnels, embankments, aqueducts, bridges, roads, ways, passages, conduits, drains, piers, arches, cuttings and fences;

streams, &c.

(h.) Divert or alter, as well temporarily as permanently, To divert
the course of any such river, stream, watercourse or
highway, or raise or sink the level thereof in order
the more conveniently to carry the same over, under
or by the side of the railway;

or conduits.

(i.) Make drains or conduits into, through or under any To make drains lands adjoining the railway, for the purpose of conveying water from or to the railway;

To alter position

(j.) Divert or alter the position of any water-pipe, gas- of gas or water pipe, sewer or drain, or any telegraph, telephone or pipes, &c. electric light wire or pole;

maintain rail

(k.) Make, complete, alter and keep in repair the rail- To make and way, with one or more sets of rails or tracks, to be way. worked by the force and power of steam or of electricity, or of the atmosphere, or of animals, or by mechanical power, or by any combination of them;

CHAP. 99.

To erect buildings, &c.

Telegraph and telephone lines.

To make branch railways.

To convey persons and goods.

To alter works.

To do all things necessary.

Company to

restore stream,

state.

(1) Erect and maintain all necessary and convenient
buildings, stations, depots, wharves and fixtures, and
construct, purchase and acquire stationary or loco-
tive engines and carriages, waggons, floats and other
machinery necessary for the accommodation and use
of the passengers, freight and business of the railway;
(m.) Construct or acquire electric telegraph and tele-
phone lines for the purposes of its undertaking;
(n.) Make branch railways, if required and provided
for by this or the special Act, and manage the same,
and for that purpose exercise all the powers, privileges
and authorities necessary therefor, in as full and
ample a manner as for the railway;

(0.) Take, transport, carry and convey persons and
goods on the railway, regulate the time and manner.
in which the same shall be transported, and the tolls.
and compensation to be paid therefor, and receive
such tolls and compensation;

(p.) From time to time alter, repair or discontinue the before mentioned works or any of them, and substitute others in their stead;

(q.) Do all other acts necessary for making, maintaining, altering or repairing, and using the railway. R. S., c. 53, s. 7. R. A., s. 90.

86. The company shall restore as nearly as possible to &c., to former its former state any river, stream, watercourse, highway, water-pipe, gas-pipe, sewer or drain, or any telegraph, telephone or electric light wire or pole which it diverts or alters, or it shall put the same in such a state as not materially to impair its usefulness. R. S., c. 53, s. 7. R. A., s. 91.

Declaration as to powers with

87. Any company which has obtained from the Crown respect to lands. by way of subsidy or otherwise, in respect to the construction or operation of its railway, a right to any land or to an interest in land, has, and from the time of obtaining such right has had, as incident to the exercise of its corporate powers, authority to acquire, sell or otherwise dispose of the same or any part or parts thereof; and such company may convey the same, cr any part or parts thereof, to any other company which has entered into any undertaking for the construction or operation, in whole or in part, of the railway in respect to which such land or interest in land was given; and thereafter such other company shall have, in respect to such land or interest in land, the same authority as that of the company which has so conveyed it; and as to any lands

given to the company by any corporation or other party, as CHAP. 99. aid towards, or as consideration in whole or in part for, the construction or operation of the company's railway, either generally or with respect to the adoption of any particular route, or on any other account, the authority of the company and of any other company to which it may convey its right in any of the said lands shall be the same as if such lands had been obtained by the company from the Crown as aforesaid. R. A., s. 90.

for damage done.

88. The company shall, in the exercise of the powers by Compensation this Chapter or the special Act granted, do as little damage as possible, and shall make full compensation, in the manner herein and in the special Act provided, to all persons interested, for all damage by them sustained by reason of the exercise of such powers. R. A., s. 92.

POWER TO BORROW MONEY.

under the Issue of bonds,

89.-(1.) The directors of the company, authority of the shareholders, to them given at any special &c., authorized. general meeting, called for the purpose in the manner hereinbefore provided, at which meeting shareholders representing at least two-thirds in value of the subscribed stock of the company, and who have paid all calls due thereon, are present in person or represented by proxy, may, subject to the provisions in this Chapter and the special Act contained, issue bonds, debentures or other securities signed by the president or other presiding officer and countersigned by the secretary, which counter-signature and the signature to the coupons attached to the same may be engraved; and such bonds, debentures or other securities may be made payable when they may be made payable, at such times and in such manner, and at such place or places in Nova Scotia or elsewhere, and may bear such rate of interest not exceeding six per centum per annum, as the directors think proper.

&c.

bonds, &c.

(2.) The directors may issue and sell or pledge all or any Disposal of of the said bonds, debentures or other securities, at the best price and upon the best terms and conditions which at the time they are able to obtain, for the purpose of raising money for prosecuting the said undertaking.

(3.) No such bond, debenture or other security shall be Amount of for a less sum than one hundred dollars.

bond, &c.

(4.) The power of issuing bonds conferred upon the com- Extent of borpany by this Chapter or under the special Act shall not be rowing power. construed as being exhausted by such issue; but such power may be exercised, from time to time, upon the bonds constitut