17th VICTORIA-CHAPTER 65.

An Act to incorporate the Sunbury Steam Factory Company for the manufacture of Agricultural and other Implements.

WHEREAS a joint stock Company has lately been formed for the purpose of erecting a Steam Factory for the manufacture of Agricultural and other implements in the County of Sunbury, within this Province, for which object capital is about to be subscribed: And whereas it is deemed expedient to incorporate a Company for that purpose ;

Be it enacted, &c.-1. The Honorable George Hayward, the Honorable Charles Harrison, William Scoullar, Whitehead S. Barker, Thomas O. Miles, Nathaniel Hubbard, William Burpe, Thomas Harrison, Enoch Lunt, Isaac Burpe, Enoch Barker, Moses Coburn, Thomas Bridges, Stephen Burpe, John S. Taylor, James Hamilton, James Harrison, Jacob Tilley, Charles B. Barker, W. C. Burpe, George Burpe, Thomas B. C. Burpe, their associates, successors, and assigns, shall be and they are hereby erected into a body politic and corporate, by the name of "The Sunbury Steam Factory Company," and shall have all the powers incident to a Corporation by Act of Assembly in this Province, for the purpose of erecting Steam Mills and necessary works for the manufacture of Agricultural and other implements, and for other purposes connected therewith, and for carrying on and managing the same.

2. The capital stock of the said Corporation shall be two thousand pounds of current money of this Province, and shall be divided into two hundred shares of ten pounds each, to be paid in at such times and in such instalments as the business of the said Company shall require; provided that twenty five per centum of the capital stock of the said Company, amounting to five hundred pounds, shall be actually paid in and invested in the business of the said Corporation within two years after the passing of this Act; and provided also, that the

said Corporation shall not be entitled to purchase any property, real or personal, or to incur any debts, until the said amount of twenty five per centum of the capital stock shall have been paid in.

3. The first meeting of the said Corporation shall be held at the Hall in the Parish of Sheffield, in the County of Sunbury, and shall be called by William Burpe, or in case of his death, neglect, or refusal, by any two of the said Company, by giving notice in the Royal Gazette, or other Paper printed in Fredericton, at least thirty days previous to such meeting, for the purpose of establishing byc laws, choosing five Directors, and such other officers as may be deemed necessary for the management of the affairs of the said Company, which Directors and officers so to be chosen shall serve till the first annual meeting, or until others are chosen in their stead, and shall have full power and authority to manage the concerns of the said Company, subject to the rules and regulations hereinafter provided; provided always, that so soon as the said capital stock of two thousand pounds shall have been paid in and expended for the purposes by this Act provided, it shall and may be lawful for the said stockholders, at any general meeting to be for that purpose called, to increase the said capital stock from time to time in such sum or sums as they may deem expedient, to a sum not exceeding ten thousand pounds, which additional capital stock shall be divided into shares of ten pounds each.

4. A general meeting of the stockholders of the said Corporation shall be held on the first Tuesday in June in each and every year, for the purpose of choosing five Directors and such other officers as may be necessary for the management of the affairs of the said Corporation, which Directors so chosen shall remain in office for one year, or until others are chosen in their stead, and shall at their first meeting after their election choose one of their number President of the said Company; provided that not less than three Directors do form a quorum for the transaction of business, and in case of the absence of the President, the Directors shall have power to appoint one of their number Chairman for the occasion.

5. No person shall be eligible as a Director unless such person is a stockholder, and holds not less than three shares of

the capital stock of the said Corporation, and is of the full age of twenty one years.

6. The number of votes to which each shareholder shall be entitled on every occasion when in conformity to the provisions of this Act the votes of the stockholders are to be given, shall be in proportion of one vote to each share of stock, and absent stockholders may vote by proxy, provided such proxy be a stockholder and produce sufficient authority in writing.

7. The shares in the said Corporation shall be assignable and transferable according to such rules and regulations as may be established in that behalf, but no assignment or transfer shall be valid or effectual unless entered or registered in a book to be kept by the Directors for that purpose, and in no case shall any fractional part of a share, or other than a complete share or shares, be assignable or transferable; provided that when any stockholder shall transfer in manner aforesaid all his stock or shares in the said Company, he shall cease to be a member of the said Corporation.

8. The joint stock and property of the said Company shall alone be responsible for the debts and engagements of the

same.

9. All shares in the said Company shall be numbered in progressive order, beginning at number one, and every member of the said Company shall have a certificate under the seal of the said Corporation, and signed by the President and Secretary thereof, certifying his property in such shares as shall be expressed in the certificate.

10. The said Company shall have power to levy and collect upon the shares from time to time such sum or sums of money as shall be adjudged by such Corporation necessary for the payment of any debts of the said Corporation, and for the purchase of such real and personal estate, and the erecting such buildings, procuring necessary machinery, and other things as may be deemed necessary and requisite for carrying on the business of the said Corporation, and for defraying the necessary expenses of managing and conducting of the same; and whenever any assessment shall be made by the stockholders of the said Company, it shall be the duty of the Secretary or Agent thereof to give notice of such assessment in the Royal Gazette or some other Newspaper printed in Fredericton,

requiring payment of the same within sixty days; and if any stockholder shall neglect or refuse to pay to the Secretary or Agent the amount of such assessment upon his shares at the time prescribed, it shall be the duty of the Secretary or Agent to advertise all such delinquent shares for sale at public auction, giving at least thirty days previous notice of the time and place of such sale; and all shares upon which the assessment is not then paid, with interest from the time when such assessment became due, shall be sold to the highest bidder, and after retaining the amount of assessment, and interest due on the same, and the expense of advertising and selling, the residue (if any) shall be paid over to the former owner, and a new certificate or certificates of the shares so sold shall be made out and delivered to the purchaser or purchasers of the same; provided always, that such assessment or assessments shall not in the whole exceed the amount of the capital stock appointed by this Act, or the capital stock to be increased as hereinbefore directed; and also provided, that no assessment shall be made except by a vote of the stockholders, and a majority of all the shares.

11. Special meetings of the said Company may be called by the Secretary or Agent, under the authority of the Directors, or of the stockholders representing not less than twenty five shares of stock, thirty days notice at least of the time and place of such meeting being given in some Newspaper published in Fredericton, or by personal notice.

12. Provided always, that unless fifty per centum of the said capital stock shall be paid in for the purposes of this Act, and a certificate of such payment signed and verified on oath by the Directors, or a majority of them, before any Justice of the Peace, shall be filed in the Office of the Secretary of the Province before the expiration of five years next after the passing of this Act, the operation of this Act shall cease, and the existence of the said Corporation shall be terminated at the end of the said five years.

WHEREAS the Township of Hillsborough, in the County of Albert, possesses advantageous situations for the building of Mills for manufacturing lumber, plaster, and other articles, and for quarrying plaster, lime stone, marble, and free stone, and for mining purposes: And whereas in order to procure the requisite capital, it is desirable to incorporate into a body politic and corporate such persons as may be willing to advance funds for such undertaking ;

Be it therefore enacted, &c.-1. Calvin Tomkins, William H. Steeves, and Walter Tomkins, and their associates, successors, and assigns, be and they are hereby erected into a body politic and corporate, by the name of "The Albert Manufacturing Company," and by that name shall have a common seal, sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended in all Courts and places whatever, and shall have power and authority to purchase, hold, and enjoy lands, tenements, and hereditaments, for them, and their successors and assigns, and all other powers and privileges now incident to a Corporation by Act of Assembly of this Province, for the purpose of building a Mill for manufacturing lumber, plaster, and other articles, and trading in the said articles; quarrying plaster, lime stone, free stone, marble, and other building materials, and trading in the same, and conveying the same to market; opening and working mines, and transacting other business connected therewith; and constructing and making such railroads or other description of roads as may be deemed necessary for the transportation of such articles from the quarries to the place of shipment; and also that they the said Company, or a majority of them, shall from time to time and at all times have full power and