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deliver the said debentures for the purposes of the company and may sell or pledge them for the purpose of borrowing money or for paying or securing the indebtedness of the company provided that the total amount of debentures at any time outstanding shall not exceed seventy-five thousand dollars and the said debentures and interest thereon if intended to be secured may be secured by mortgage upon such of the property and assets of the company as may be described in the mortgage deed; and such mortgage deed may give to the holders of the said debentures or the trustees or trustee for such holder named in such mortgage deed such powers, powers of sale, rights and remedies as are specified in such mortgage deed: Provided however that the total amount borrowed under the provisions of this and the next preceding section, shall not at any one time exceed the sum of twenty-five thousand dollars.

8. The capital stock of the company shall be ($125,000 - Capital stock 00) one hundred and twenty-five thousand dollars divided into shares of one hundred dollars each.

increase

9. The company in general meeting may from time to Powers to time increase the capital by the creation of new shares of such capital if amount as may be deemed expedient. The new shares shall be necessary issued upon such terms and conditions and with such rights and privileges annexed thereto as the general meeting resolving upon the creation thereof shall direct and if no direction be given as the directors shall determine; and in particular such shares may be issued with a preferential or qualified right to debentures.

(2) The company shall within one month thereafter notify the Registrar of Joint Stock Companies of any such increase and shall pay the same fees as would have been payable if such increased capital had formed part of the original capital of a company registered under the provisions of The Companies Ordinance.

10. Daniel Robert Fraser, Alexander Fraser and John Provisional MacDonald shall be the first or provisional directors of the directors company and shall hold office as such until replaced by others duly appointed in their stead and shall have and possess all the powers which are conferred upon directors by The Companies Clauses Act and this Act; and until otherwise ordered by bylaw or resolution of the provisional directors any three of them may call meetings of the provisional directors to be held at the city of Edmonton at such times as they determine : Provided that notice in writing signed by the provisional directors calling any such meeting of the date and place of Notice of holding the same, shall be mailed by registered letter to the address of each of the other directors not less than ten days

meeting

previous to the date of such meeting. A majority of the Quorum provisional directors shall form a quorum.

First meeting of shareholders

Notice Vacancy among directors

Calls

Head office

Short title

Application of
Companies
Ordinance

11. At any time after the passing of this Act the provisional directors or any two of them may call a general meeting of the shareholders of the company to be held in the city of Edmonton at such time as they determine for the purpose of passing or ratifying the bylaws of the company; of electing directors and of considering and determining upon any other business specified in the notice calling such meeting; and a notice in writing signed by the provisional directors calling any such meeting of the date and place of holding the same mailed by registered letter to the address of each shareholder not less than ten days previously shall be deemed sufficient notice of such meeting.

12. The directors and provisional directors of the company may act notwithstanding any vacancy in their number; provided that if the number falls below three the directors shall not except for the purpose of filling vacancies have power to act so long as the number is below the said minimum.

13. Calls shall be deemed to have been duly made at the time when the resolution of the directors authorising such call was passed.

14. The head office of the company shall be at the city of Edmonton.

15. This Ordinance may be cited as the "D. R. Fraser & Co., Limited, Ordinance."

16. The Companies Ordinance being chapter 20 of the Ordinances of 1901 insofar as the same is applicable except sections 5 to 26 inclusive, 117 and 118 shall apply to the

company.

1904

CHAPTER 34

rdinance to incorporate The Strathcona Radial Tramway Company, Limited.

[Assented to October 8, 1904.]

EREAS a petition has been presented praying for the Preamble incorporation of a company to construct and operate a electric tramway as hereinafter set forth and it is

ent to grant the prayer of the said petition;

refore the Lieutenant Governor by and with the advice onsent of the Legislative Assembly of the Territories as follows:

Alfred Edmund Jackson, Robert Lee, William I. Crafts, Incorporation ald Menzies McDonald, John Cameron and Robert James rong all of the town of Edmonton; John Moran Moran t Saskatchewan and Robert Ritchie, John Walter and rick Charles Jamieson of the town of Strathcona; er with such persons as become shareholders in the ny hereby incorporated are hereby constituted a body ate under the name of "The Strathcona Radial way Company, Limited."

The head office of the company shall be in the town of Head office acona in the North-West Territories.

construct and

The company may lay out, construct and operate a single Power to uble track tramway with all necessary switches, side- operate 3 and turnouts for the passage of cars, carriages and tramway, etc. vehicles upon and along roads or lands acquired for the ose from a point at or near the town of Strathcona to: (a) A point within the town of Fort Saskatchewan; (b) A point on the North Saskatchewan river between the mouth of Strawberry creek and the mouth of Wolf creek;

(e) By way of Cooking lake to the south end of Beaver

lake;

(d) To a point in township fifty-two in ranges twentysix, twenty-seven, twenty-eight west of the fourth or ranges one or two west of the fifth

meridian
meridian;

(e) To a point within the village of Morinville;

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(f) To any point in the district of Alberta not more the eighty miles distant from the boundaries of the tow of Strathcona as the same exist at the time of t passing of this Ordinance; and may further exter any of the said lines to a distance not greater tha eighty miles from the said boundary; and may car passengers or freight thereon by the power of ele tricity or by such other motive power except stea as the company from time to time deems expedien and may levy and collect tolls from all persons a freight passing over or travelling on the same; a may establish works to supply electricity for su power or for the sale of electric power; and m construct, erect and maintain all necessary building machinery, appliances and conveniencies for the pu pose of such tramways and works including t erection of poles upon any and all streets and roa upon which the company deems it expedient to r its tramways for the carrying on of its business; a also may construct and operate bridges or ferri across the said North Saskatchewan river and oth rivers and streams for the purposes of the said tra ways; and with the consent of the Minister of Pub Works of the Dominion of Canada or the Commi sioner of Public Works of the North-West Territori or the municipal council of any municipality ma construct and operate such tramways over and alo any bridge which is now or shall hereafter be erect across the said North Saskatchewan river or ar other river or stream and which may be under the ma agement of such minister, commissioner or munici council; and may open, improve, equip and opera coal mines and stone quarries and sell, mortga pledge and otherwise deal with the products there Provided that after the lapse of three years from the da of the passing of this Ordinance all the powers granted by t section shall absolutely cease unless at least fifteen miles line shall have been actually constructed; and

Provided further that after the lapse of seven years fr the date of the passing of this Ordinance the powers grant by this section shall absolutely cease with regard to all tra way lines (not being necessary switches, side tracks or tu outs) not then actually constructed.

4. The persons mentioned by name in the first section this Ordinance are hereby constituted provisional directors the company.

5. The capital stock of the company shall be two hund thousand dollars and may be called up by the directors fr time to time as they deem necessary; but no one call sh exceed ten per cent. on the shares subscribed and there sh be a period of at least two months between calls.

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6. The annual general meeting of the shareholders shall be Annual held on the first Monday in September in each year.

general meeting

directors

7. At such meeting the subscribers for capital stock Election of assembled who have paid all calls due on their shares shall choose five persons to be directors of the company one or more of whom may be paid directors of the company.

number of

2. The number of elected directors may be increased to not Increase in more than nine by bylaw passed by the shareholders at any directors annual general meeting or special meeting duly called for that purpose.

3. A majority of the directors shall constitute a quorum.

Quorum

first election

8. So soon as twenty-five thousand dollars of the capital Meeting for stock have been subscribed and ten per cent. thereon paid up the provisional directors shall call a meeting of the shareholders for the purpose of electing directors first giving two weeks notice of such meeting by advertisement in The NorthWest Territories Gazette and a newspaper published in the town of Strathcona.

expropriate

9. The company may enter upon and expropriate or other- Power to wise acquire any lands which may be proper for the purpose lands of the tramway such lands not being more than a chain in width when required for right of way and when required for the erection of buildings not more than is reasonably required for the same; and the company shall in the exercise of the powers by this section granted do as little damage as possible and shall make full compensation to all persons interested for all damage by them sustained by reason of the exercise of such powers; and in exercising such powers of expropriation the procedure provided by The Railway Act 1903 (chapter 58 of the Statute of Canada 3 Edward VII) shall be followed; and such compensation in case of disagreement shall be settled in the manner provided by the said Railway Act.

capital stock

10. The directors of the company may at any time after Increase in the whole capital stock of the company has been taken up and fifty per cent. thereof paid in pass a bylaw for increasing the capital stock of the company to any amount which they consider requisite for the due carrying out of the objects of the company.

(a) Such bylaw shall declare the number of shares of the
new stock and may prescribe the manner in which the
same may be allotted and in default of doing so the
control of such allotment shall vest absolutely in the
directors.

(b) No such bylaw shall have any force or effect what-
soever until it is approved by the votes of at least
two-thirds in value of all the subscribed stock of the
company at a special meeting of the company duly
called for considering the same.

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