All shareholders to have equal rights. Issue of bonds, Mileage limitation. Securing bonds by mortgage. Bonds to be first charge without registration. 16. All persons, whether British subjects or aliens or residents of Canada or elsewhere, shall have equal rights to hold stock in the said Company and to vote on the same and shall be eligible to hold office as directors or officers in the said Company. 17. The directors of the Company, under the authority of the shareholders, to them given by a resolution of the annual meeting, or of a special general meeting called for that purpose, are hereby authorized to issue bonds under the seal of the Company, signed by its president or other presiding officer, and by another director, and countersigned by its Secretary, and such bonds shall be made payable at such times and in such manner and at such place or places in Canada or elsewhere, and bearing such rate of interest as the directors shall think proper, and the directors shall have power to issue and sell or pledge all or any of the said bonds, at the best price and upon the best terms and conditions that at the time they may be able to obtain, for the purpose of raising money for prosecuting the undertaking; provided that the amount of such bonds so issued, sold or pledged shall not exceed sixteen thousand dollars per mile of the said railway, to be issued in proportion to the length of railway constructed or under contract to be constructed; provided, also, that no such bonds shall be issued until at least two hundred and fifty thousand dollars shall have been subscribed of the capital stock and ten per cent. of the same bona fide paid thereon, but notwithstanding anything in this Act contained the Company may secure the bonds to be issued by them by a mortgage deed, creating such mortgages, charges and incumbrances upon the whole or any part of such property, assets, rents and revenues of the Company, present or future, or both, as shall be described in the said deed, but such rents and revenues shall be subject, in the first instance, to the payment of the working expenses of the railway, and by the said deed the Company may grant to the trustee or trustees named in such deed all the rights, powers, immunities, franchises and property of the Company, including its corporate franchise and all and every the powers and remedies granted by this Act in respect of the said bonds and all other powers and remedies not inconsistent with this Act, or may restrict the bondholders in the exercise of any powers, privilege or remedy granted by this Act, as the case may be, and all such powers, rights and remedies as shall be so contained in such mortgage deed shall be valid and binding and available to the bondholders in manner and form as therein provided. 18. The bonds hereby authorized to be issued shall, without registration or formal conveyance, be taken and considered to be the first and preferential claims and charges upon the said Company, and the undertaking, tolls and income and real and personal property thereof, now or at any time hereafter acquired, and each holder of the said bonds shall be deemed to be a mortgagee or incumbrancer upon the said securities pro rata with all the other bondholders. Unpaid entitled to vote and be elected as Directors. 19. If the said Company shall make default in paying the principal or interest of any of the bonds hereby authorized at bondholders the time when the same shall by the terms of the bond become due and payable, then at the next ensuing general annual meeting of the said Company, and all subsequent meetings, all holders of bonds so being and remaining in default, shall in respect thereof have and possess the same rights, privileges and qualfications for directors and for voting at general meetings as would be attached to them as shareholders if they had fully paid up shares of the said Company to a corresponding amount, provided, nevertheless, that the right given by this section shall not be exercised by any bondholder unless the bonds in respect of which he shall claim to exercise such right shall have been first registered in his name in the same manner as is provided by by-law for the registration of the shares of the Company, and for that purpose the Company shall be bound on demand to register any of the said bonds in the name of the holder thereof, and to register any transfers therof, whether such default has been made in payments of principal or interest, or otherwise in the same manner as a transfer of shares, provided also that the exercise of the rights given by this section shall not take away, limit or restrain any other of the rights or remedies to which the holders of the said bonds shall be entitled. 20. All the bonds, debentures, mortgages, and other securities hereby authorized, and the coupons and interest warrants thereon respectively may be made payable to bearer, and shall in that case be transferable by delivery, and any holder of any such bonds, debentures, mortgages or coupons so made payable to bearer may sue at law thereon in his own name, unless and until registry thereof has been effected in manner provided in the next preceding section; and while so registered they shall be transferred by written transfer, registered in the same manner as in the case of shares, but they shall again become transferable by delivery upon the registration of a transfer to bearer, which the Company shall be bound to register on the demand of the registered holder for the time being, and all the powers of issuing bonds and making mortgages and otherwise raising money conferred by this Act upon the Company shall extend to and be applicable to any railway leased or purchased by the Company. Bonds to be transferable Calls upon 21. The directors may at any time call upon the shareholders for such instalment upon each share which they or stock. any of them may hold in the capital stock of the said Čompany in such proportion as they may see fit, except that no such instalment shall exceed ten per centum of the subscribed 5V Company may lease, etc., connecting or crossing its line. capital, and thirty days' notice of each call shall be given in accordance with the by-laws of the Company and this Act.. 22. The Company shall have power to acquire by purchase other railways or to lease or to make running arrangements with any railway company or government or person or persons whatsoever, having lines of railway situate on the line hereby authorized, or crossing or connecting with the same upon terms to be approved by two-thirds of the shareholders at the annual meeting, or at a special meeting to be held for that purpose in accordance with this Act, Company may lease or sell its railway. 23. It shall be lawful for the said Company to enter into an agreement with any other railway company for leasing or selling the Winnipeg and Western Railway, or any part thereof, or any lines purchased by the Company, or the use thereof, or for leasing or hiring any locomotives, tenders, plant, rolling stock or other property, or either, or both, or any part thereof, or touching any service to be rendered by the one company to the other, and the compensation therefor if the How effected. arrangements and agreements shall be approved by two-thirds of the shareholders voting in person or by proxy at a special general meeting to be called in accordance with this Act for that purpose, and every such agreement shall be valid and binding, and shall be enforced by courts of law according to the terms and tenor thereof and any company accepting such lease shall be and is hereby empowered to exercise all the rights and privileges conferred upon the lessors by law. Acquiring lands for station grounds, gravel pits, etc. Powers as to making or 24. Whenever it shall be necessary for the purpose of procuring sufficient lands for stations or gravel-pits, or for constructing, maintaining and using the said railway, also for any other purpose connected with the said railway, or for opening a street to any station from any existing highway, the said company may purchase, hold, use or enjoy such lands and also the right of way thereto if the same be separated from their railway, and may sell and convey the same, or parts thereof, from time to time as they may deem expedient and may also make use of for the purposes of the said railway, the water of any stream or water-course, over or near which the said railway passes not being navigable waters, doing, however, no unnecessary damage thereto, and not impairing the usefulness of such stream or water-course, and the compensation to be paid to the owners of such lands, or the use of such water, as also the powers of the said company to take possession thereof, shall in case of difference be ascertained. and exercised in the manner provided by the Railway Act of Manitoba. 25. The Company shall have power and authority to beendorsing bills come parties to promissory notes and bills of exchange for sums not less than one hundred dollars, and any such note or bill made, accepted or indorsed by the president or vice-presi of exchange and promis sory notes. dent of the Company, as president or vice-president thereof, and countersigned by the secretary and under the authority of a majority of a quorum, of the directors shall be binding on the Company, and any such promissory note or bill of exchange so made as aforesaid shall be presumed to have been made with proper authority until the contrary be shown, and in no case shall it be necessary to have the seal of the Company affixed to such promisory note or bill of exchange, nor shall the president or vice-president or secretary be individually responsible for the same unless the said promissory notes or bills of exchange have been issued other than aforesaid, provided, however, that nothing in this section shall be construed to authorize the Company to issue any note or bill payable to bearer or intended to be circulated as money or as the notes or bills of a bank. cing work. 26. The said Railway shall be commenced within one year Limitation as and operated within two years from the passing of this Act, and to commenin default thereof the powers hereby conferred respecting said Railway shall absolutely cease with respect to so much of the railway as then remains incomplete. 27. This Act shall come into force on the day that it is When Act to assented to. 28. This Act shall be deemed a public Act. SCHEDULE "A.” take effect. Public Act. KNOW all men by these presents that I (or we) in consideration of dollars, to me (or as the case may be) by the Winnipeg and Western Railway Company now paid, the receipt whereof is hereby acknowledged, do grant all that certain parcel of land situate (describe the land) the same having been selected by the Company for the purposes of their railway, to hold with the appurtenances thereof unto the said The Winnipeg and Western Railway Company, their successors and assigns. As witness my hand and seal (or our hands and seals) this day of Signed, sealed and delivered in presence of [Seal.] CAP. LXV. Form of deed. [Assented to 10th June, 1887.] An Act to amend an Act to Incorporate the Christian Women's Union of Winnipeg. HEREAS the Christian Women's Union of Winnipeg Preamble. have petitioned to have their Act of Incorporation WE amended, and it is expedient to grant their prayer. Sec. 1, Cap. 59 of 47 Vic. amended. Sec. 3 of same Sec. 4 amended. New clause added. Corporation continued. Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: 1. Section one of Chapter 59 of the Statutes, passed in the 47th year of Her Majesty's reign, is hereby amended by striking out the words "Be elected to succeed them in the manner hereinafter mentioned," and in inserting in lieu thereof the words "Become subscribers to the said Institution of a sum of not less than three dollars annually, and those who, having paid fifty dollars or given at any one time property of the value of one hundred dollars to it, shall be life members thereof," and by striking out the words "Providing a temporary home for female immigrants and servants who are out of place, and who have no homes to go to, and for children," and by inserting in lieu thereof the words "Establishing a Refuge for Women." 2. Section three of the said Chapter is hereby amended by striking out all after the word "Ladies," and inserting in lieu thereof the words "Which number may, by resolution or by-law, be increased from time to time, but so that it shall not exceed sixty, and which Board may form themselves, with separate committees to take charge of separate portions of the work of the Institution, if deemed desirable, and the said Board shall elect the officers of the Corporation herein before mentioned (any two of which offices may be held by one person) annually at the first meeting of the said Board held. after the annual meeting hereinafter mentioned. 3. Section four of the said Chapter is hereby amended by striking out the words "Respecting subscribers to the said Institution of a sum not less in amount than three dollars annually, or who, having paid fifty dollars, are life members," and inserting in lieu thereof the words "Subscribers and life members of the said Institution. 4. And the said Chapter is hereby further amended by adding the following: 5a. Notwithstanding anything in the past, the said Corporation is hereby continued, and should the election of the board of management not be held as set forth herein the same shall be held as soon after the said time as possible, and the board of management and officers shall continue to hold office until their successors are duly elected for the ensuing year. |