17th VICTORIA-CHAPTER 52. An Act in amendment of and in addition to an Act to incorporate the South Bay Boom Company. Section. 1. Extension of capital stock, &c. 2. Powers of Company in relation to rafts. 3. Power of Directors to increase boomage. Section. 4. Lien, how disposed of. 5. Penalty for loosing fasts, &c.; recovery and application. Passed 1st May 1854. WHEREAS the formation of the South Bay Boom Company, and their operations under their Charter, have so far been most successful in carrying out the objects contemplated thereby, but the present arrangements have been found inadequate to meet the necessity that at present exists for greater security for timber after being placed within the Booms of the said Company, and the owners of timber have urged upon the said Company the necessity of enlarging its operations by erecting and placing more Piers and Booms with a view to the prevention of rafts or joints of timber and logs, or other materials placed within the main Boom, from being broken up and scattered, or otherwise interfered with by gales of wind or other causes: And whereas the present capital, or the amount the said Company are authorized to increase the same to, will be insufficient for such purpose, and the returns at present rates being inadequate to meet the increased expenditure;— Be it therefore enacted, &c.-1. The said South Bay Boom Company shall have power to extend the capital stock of the said Company to an amount not exceeding in the whole the sum of ten thousand five hundred pounds, and to assess such increase on the present number of shares, or to create from time to time such further number of shares of six pounds each, as they may deem most expedient; provided that such assessment or increase shall not in all exceed the sum of ten thousand five hundred pounds, or the number of one thousand seven hundred and fifty shares; and in the event of the said Directors determining to assess such increase on the said present shares, then the said Company shall to such extent have power to levy and collect assessments upon the said shares from time to time of such sums of money as may be deemed necessary for erecting Piers, placing Booms, or otherwise extending the works or carrying on the business of the said Company, and the same shall and may be called in, levied, and collected in all respects in the manner pointed out in and by the eleventh Section of an Act made and passed in the tenth year of the Reign of Her present Majesty, incorporating the said Company, and with all the like remedies, rights, powers, and privileges in every respect for recovering such calls as are granted by the said Act of Incorporation, and an Act in amendment of and in addition to the said Act of Incorporation, made and passed in the eleventh year of the same Reign; and in the event of the said Company determining to extend the said stock by increasing the present number of shares, then the said shares so from time to time created shall be sold by public auction in the City of Saint John, at least ten days previous notice being given of the time and place of such sale. 2. And whereas the owners of rafts or joints of timber, logs, masts, spars, or other lumber, or those in the charge of or having the control thereof, frequently leave the same within the Booms of the said Company, in positions dangerous to the property of others within such Boom, without sufficiently securing the same, and often without leaving sufficient rigging or other means for properly securing the same, whereby the said Booms and the property within the same become greatly endangered, and large expenses have accrued thereby and therefrom;-The said South Bay Boom Company, or their superintendent, agents, and servants, shall have full power and authority to direct in what position and situation all rafts or joints of timber, masts, spars, logs, or other lumber, brought or placed within such Boom, shall be placed, and how the same shall be secured; and in the event of the owner or owners, or person or persons in possession or charge, or apparently in possession or charge of such rafts, joints, timber, logs, masts, spars, or other lumber, refusing or neglecting forthwith to obey such directions, then and in every or any such case it shall be lawful for the said Company, their superintendent, agents, or servants, to employ men and furnish rigging or other means as may be necessary for placing the said rafts, joints, logs, masts, spars, or other lumber, in the position or situation deemed right and proper by the said Company, their superintendent, agents, or servants, and for safely fastening and securing the same, so that the same may be kept safe and secure, and prevented from injuring or interfering with the said Boom or any other property therein, and all expenses incurred by the said Company, their superintendent, agents, or servants, shall be borne and paid by the owner or owners of such rafts, joints, timber, masts, spars, or other lumber; and in addition to the liability of such owner or owners, the person or persons in charge thereof, or exercising control thereover, shall be likewise liable therefor, the said Company shall in addition have the like lien thereon, or on any and every part thereof, for all such expenses, as they have for the boomage thereof. 3. The Board of Directors of the said Company shall have power, and they are hereby authorized to increase the rate of boomage for all timber, logs, masts, spars, or other lumber, in lieu of the rates now chargeable therefor, that is to say, the said Company shall be entitled to receive on all timber, logs, masts, spars, or other lumber which shall be carried or received, or which shall enter into or within said Piers or Booms, or any of them, and which shall be fastened to or secured by the said Piers or Booms, or any of them, on the outside thereof, a sum not exceeding three pence for each and every ton of square timber; four pence for each and every ton of round and flatted timber, measured as square; six pence for each and every thousand superficial feet of logs; and two pence per piece for all ship knees and crooked timber; the above rates to be chargeable by the said Corporation up to the first day of June next ensuing the time the timber, logs, masts, spars, or other lumber shall be received or deposited, and one half of the said rates in addition for each succeeding year, or any part thereof, that the said timber, logs, masts, spars, or other lumber shall be continued within said Booms, the sum to be in lieu of the rates established and authorized by the Act incorporating the said Company, and the Act in addition to and in amendment thereof, which said several rates shall be chargeable against the purchasers; and for securing and recovering the payment of which boomage, the said Company shall have in every respect the same lien and the same remedies, rights, powers, and privileges as are given and provided for in and by the said Act of Incorporation, for securing, and recovering, and enforcing the payment of the boomage authorized thereby. 4. The said Company shall have full power and authority to sell and dispose of so much of such timber, logs, masts, spars, or other lumber, on which they may have, by virtue of this or any other Act, any lien, as may be necessary for realising the amount due to the said Company, whether for boomage, expenses, or otherwise howsoever; provided that such sale shall be by public auction, and that ten days previous notice of the time and place of such sale shall be first given in one or more of the public Newspapers published in the City of Saint John. 5. Any person, save the manager or agent of the said Company, removing any timber, logs, or lumber within the said Booms, without the consent of the owner thereof, or loosening the fasts thereof, or of any rafts within the said Booms, without permission of the manager or agent aforesaid first obtained thereto, or not properly fastening the same again to the satisfaction of the said manager or agent, shall be liable to a penalty of fifty pounds, to be recovered before the Stipendiary Magistrate of the City of Saint John, or of the Parish of Portland, or any two other Justices of the Peace in the City or County of Saint John, in the name of and applied to the benefit of the said Company. 17th VICTORIA-CHAPTER 59. An Act to increase the Capital Stock of the Nashwaak Boom Company. Section. 1. Increase of capital stock. Section. 2. Company may levy and collect assessments for the sume. Passed 1st May 1854. WHEREAS it has become necessary to increase the capital stock of the Nashwaak Boom Company, to enable the said Company to extend and improve the Boom erected by the said Company ; Be it therefore enacted, &c.-1. The shareholders of the Nashwaak Boom Company shall be and are hereby authorized to increase the capital stock of the said Company to an amount not exceeding seven hundred and fifty pounds, which additional stock shall be divided into shares of ten pounds each, and shall be divided in equal proportions among the present stockholders. 2. The said Company shall have power to levy and collect assessments upon such additional shares in the manner pointed out in and by the eleventh Section of an Act made and passed in the eighth year of the Reign of Her present Majesty, intituled An Act to incorporate the Nashwaak Boom Company. |