7. The by-law shall regulate

1. The manner of voting;

2. The place and hour of meeting for the election;

3. The qualification of voters and of candidates for the direction; and

4. Any other matters, except the day of election, which the directors deem necessary to carry out the foregoing provisions. R. S. O. 1877, c. 154, s. 7.

Requirements of by-law.

8. The by-law shall be published for three successive weeks in By-law, how the newspaper, or one of the newspapers published nearest the published, etc place where the directors of the company usually meet for conducting the business of the company. R. S. O. 1877, c. 154, s. 8.

9. The directors may alter, change or amend the by-law, Directors may whenever they see proper, but they shall always publish the amend by-law. amended by law in the manner above provided. R. S. O.

1877, c. 154, s. 9.

10. A majority of the directors shall be a quorum for the Majority of transaction of business. R. S. O. 1877, c. 154, s. 10.

directors to be a quorum.

elect directors

11. If the annual election of directors does not take place Failure to at the time appointed, the directors for the last preceding year not to dissolve shall continue to serve until their successors are elected, and an company. election shall be held at such time within one month after the appointed time, as may be provided by a by-law passed for that purpose. R. S. O. 1877, c. 154, s. 11.

12. At any election of directors, each shareholder shall be Shareholders entitled to one vote for every share of stock he holds not in arrear and upon which he is not in arrear. R. S. O. 1877, c. 154, s. 12. vote for every

13. Every shareholder who has paid all calls made shall be eligible as a director. R. S. O. 1877, c. 154, s. 13.

entitled to one

share held by them.

And eligible as directors.

and take secu

14. The directors may elect one of their number to be the Directors to president, and may appoint such officers and servants as they elect president deem necessary, and may, in their discretion, take security from rity from offieach of them for the due performance of his duty, and that he cers. will duly account for all moneys coming into his hands to the use of the company. R. S. O. 1877, c. 154, s. 14.

rectors, how

15. If a vacancy happens amongst the directors during the Vacancies current year of their appointment, by death, resignation, or amongst dipermanent residence without the county or counties in which filled up, etc. the work is situated, or by any other cause, the vacancy shall, unless otherwise provided by some by-law or regulation of the company, be filled up for the remainder of the year in which it happens by a person to be nominated by the majority of the remaining directors. R. S. O. 1877, c. 154, s. 15.

Shares to be

16. Each share in every company shall be $20, and $20 each-to shall be regarded as personal property, and shall be transbe personal property and ferable upon the books of the company, in the manner protransferable. vided by by-law to be made by the directors in that behalf. R. S. O. 1877, c. 154, s. 16.

After two weeks' notice

holders may be sued.

17. Every company may sue any shareholder in the of call, share company for the amount of any call or calls of stock which the shareholder neglects to pay after public notice thereof for two weeks in the newspaper, or one of the newspapers, published nearest the place where the directors of the company usually meet for the transaction of business, or after a personal demand for payment has been made from such defaulting shareholder by the treasurer of the company. R. S. O. 1877, c. 154,

Treasurer's affidavit, evidence of demand.

Directors to make annual report to municipality.

Company to keep books of account, etc.

Directors may

increase

s. 17.

18. The affidavit of the treasurer shall be deemed sufficient proof of the notice or demand, and a copy of the affidavit shall be filed in the office of the clerk of the Court where the action is heard or decided, or where the trial takes place. R. S. O. 1877, c. 154, s. 18.

19. The directors of every company shall annually, in the month of January, report to the municipality within which the work is situate, under the oath of the treasurer of the company

1. The state and nature of their work;

2. The amount of all money expended ;

3. The amount of their capital stock, and how much is paid in ;

4. The amount of dividends paid and the amount expended for repairs; and

5. The amount of debts due by the company. R. S. O. 1877, c. 154, s. 19.

20. Every company shall keep regular books of account, in which shall be entered a correct statement of the assets, receipts and disbursements of the company, and the books shall be at all times open for the inspection of any person for that purpose appointed by the municipality. R. S. Ô. 1877, c. 154, s. 20.

21. If the directors of a company find the stock already capital stock. subscribed insufficient to finish the contemplated work, they may increase the capital stock of the company. R. S. Ŏ.

Company may

1877, c. 154, s. 21.

22. Every such company may borrow money on the security on security of of such work, not exceeding one-half the value thereof. R. S. O,

work.

1877, c. 154, s. 22.

when, and

23. When any pier, wharf or harbour is so far com- Company may pleted as to be capable of receiving and sheltering vessels, demand tolls, and of safely loading and unloading the same, the company amount, etc. may demand and take as toll or as wharfage to and for their own use and benefit, on all goods, wares and merchandise shipped on board or landed out of any vessel, boat or other craft from or upon any such pier or wharf within the bounds of every such harbour, not exceeding the following, that is to say:

Sawed Lumber, per 1,000 feet board measure.. 0 25
Square or round Timber....per 100 cubic feet. 0 15

Saw Logs...

Pipe Staves..

West India Pipe Staves..

Unenumerated articles...

Boats of 12 tons or under..

0 021/

over 12 tons and not over 50.

0 40

directors to

24. The president and directors of the company shall, sub- President and ject to the approval of the Lieutenant-Governor, fix and regu- fix tolls, etc. late, from time to time, the tolls, rates, dues or wharfage to be received from all vessels entering their harbour or lying at their pier or wharf, and for loading and unloading all goods, wares or merchandise in such harbour, as to them seems meet; but such tolls, rates, dues or wharfage shall not in any case exceed the amount herein specified. R. S. O. 1877, c. 154, s. 24.

detain vessels

other dues.

25. Every company, or their agent, officers or servants Company may may detain any goods, wares or merchandise, or any vessel, and goods, sell boat or craft, until the legal tolls or charges thereon have been the same to paid, and may sell any vessel or boat for the charges for pay tolls and repairs thereof, when such charges have remained unpaid for the space of thirty days, and in cases where the charges for wharfage or storage dues on goods, wares or merchandise have remained unpaid for the space of one year, the company, their agents, officers or servants, after giving ten days' notice of sale, may, by public auction, sell such goods, wares or merchandise, or such part thereof as may be necessary to pay such dues, and shall return the overplus, if any, to the owner or owners thereof. R. S. O. 1877, c. 154, s. 25.

Municipal councils may

hold stock in company.

Municipality may pay for stock out of

26. Any municipal council having jurisdiction in the locality in which any such work is to be constructed, may subscribe for, obtain, hold, and transfer stock in the company, and may from time to time direct the mayor, reeve, warden, or other chief officer of the municipality, to subscribe for such stock in the name of the municipality, and to act for the municipality in all matters relative to such stock and the exercise of the rights of the municipality as a shareholder, and such chief officer shall, whether otherwise qualified or not, be deemed a shareholder in the company, and may vote and act as such, subject to the rules and orders in relation to his authority, which may be made in that behalf, by the municipal council, but voting according to his discretion in cases not provided for by the council. R. S. O. 1877, c. 154, s. 26.

27. A municipality taking stock may pay for the same out of any moneys belonging to the municipality, and not unappropriat specially appropriated to any other purpose, and may apply the ed moneys of moneys arising from the dividends or profits on the stock or from the sale thereof, to any purpose to which unappropriated moneys belonging to the municipality may lawfully be applied. R. S. O. 1877, c. 154, s. 27.

municipality.

stock.

Municipalities 28. A company may sell to any municipality representing may purchase the interest of the locality in which the work is situate, and any such municipality may purchase the stock of the company at the value agreed on between them, and the municipality shall hold the same for the use and benefit of the locality; and shall, in all respects thereafter, stand in the place of the company, and shall possess all such powers and authority as the company had theretofore possessed and exercised. R. S. O. 1877, c. 154, s. 28.

Sale of works

to pass the rights of the company to the purchaser.

the stock of company.

29. In case a pier or wharf constructed by a joint stock company incorporated under the laws of Ontario, has heretofore been or is hereafter sold either by the joint stock company or under some power granted by them, or under legal process against the company, the sale or sales shall, in all cases, be deemed to have passed and to pass the piers or wharves to the purchaser or purchasers thereof, with all the rights, privileges and appurtenances, and subject to all the duties and obligations which the law gave or imposed with reference to the pier or wharf, whilst the same continued the property of the joint stock company which had constructed the same. R. S. O. 1877, c. 154, s. 29.

Municipality, 30. A municipal council representing the interests of the after 21 years, may purchase locality in which the work is situate, may, after twenty-one years from the time of the work being so far completed as that tolls were and have been collected thereon, purchase the stock of the company at the current value thereof at the time of purchase, and shall hold the same for the use and benefit of

Chap. 162. the locality; and the municipality shall thenceforth stand in the place of the company, and the council thereof shall possess all such powers and authority as the company had theretofore possessed and exercised. R. S. O. 1877, c. 154, s. 30.

CHAPTER 162.

An Act respecting Joint Stock Companies for the
Erection of Exhibition Buildings.

INCORPORATION, ss. 1, 2.
DIRECTORS, SS. 3-5.

By-laws, s. 6.

OFFICERS, S. 7,

SHARES AND THEIR TRANSFER, s. 8.

Calls, ss.

7-12.

MUNICIPALITIES MAY TAKE STOCK,
s. 13.

INCREASE OF CAPITAL, Ss. 14-17.
BORROWING POWERS, s. 18.

MUNICIPALITIES MAY LEND MONEY TO

THE COMPANY, s. 19.
LIMITATION OF ACTIONS, s. 20.

ER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

be formed

"for the erec

1. Any number of persons, not less than five, may form Companies themselves into a company under the provisions of this Act, may for the purpose of purchasing and holding land and erecting tion of Exhisuitable buildings thereon for the holding of periodical fairs or bition Buildexhibitions for agricultural purposes. R. S. O. 1877, c. 155, s. 1.

ings.

2.-(1) When any number of persons not less than five have Conditions on which any subscribed a sufficient quantity of stock to amount to a sum such company equal in their judgment to the amount required for the pur- may become chase of the ground necessary for a building to be used for the incorporated. purposes aforesaid, and the erection of such building thereon and of the additional ground required for the holding of agricultural fairs or exhibitions, and have executed an instrument according to the form in the schedule to this Act; and have paid to the treasurer of the intended company twenty-five per cent. upon the capital stock intended by the company to be raised for the purposes aforesaid, and have registered the instrument or an original duplicate thereof at full length, together with the receipt from the treasurer of the company for the first instalment of twenty-five per cent., with the registrar of the registry division, the company shall thence- Name and corforth be a body corporate by the name designated in the Porate powers.

VOL. II.-7