W 1912-13 CHAPTER 48 An Act to incorporate the Regina-Moose Jaw [Assented to January 11, 1913.] HEREAS a petition has been presented praying for the incorporation of a company to construct and operate the railway or tramway as hereinafter set forth and it is expedient to grant the prayer of the said petition: Therefore his Majesty by and with the advice and consent of the Legislative Assembly of Saskatchewan enacts as follows: 1. Julius Friedman of the city of Saskatoon in the Province Incorporation of Saskatchewan, financial agent; Joseph Gordon Boyd, of the city of Regina, in the Province of Saskatchewan, financial agent; Ernest A. McCallum, financial agent and William Perry Wells, manager, both of the said city of Regina; Wesley Byron Lawson, of Chesterville, in the Province of Ontario, barrister; Arthur E. Hitchcock, banker, and John H. Grayson, agent, both of the city of Moose Jaw, in the Province of Saskatchewan, together with all such other persons as become shareholders in the company hereby incorporated are hereby constituted a body corporate under the name of Regina-Moose Jaw Interurban Railway Company, herein called "the company." 2. The head office of the company shall be at the city of Head office Regina or at such other place in Saskatchewan as the company may by bylaw provide. directors 3. The five persons last mentioned in section 1 of this Act Provisional are hereby constituted provisional directors of the said company. 4. The capital stock of the said company shall be $1,000,000 Capital stock divided into ten thousand shares of $100 each and may be called up by the directors from time to time as they deem necessary; but no call shall exceed ten per cent. of the shares subscribed. 5. The annual meeting of the shareholders shall be held on Annual meeting the second Tuesday of February in each year at the city of Directors Location of proposed tramway Right to produce and power Regina or elsewhere in Saskatchewan as the directors shall determine. 6. At such meetings the subscribers for the capital stock of the company assembled who have paid all calls on their shares shall choose not less than five nor more than nine persons to be directors of the company, one or more of whom may be paid directors of the company. 7. The company may let out, construct, lease or acquire, own and operate a railway or tramway to be operated by electricity or by any other power except steam, such railway or tramway to be of the gauge of four feet eight and one-half inches and such railway or tramway to be constructed and to be operated in Saskatchewan as follows: Commencing at a point on the western limits of the said city of Regina, thence westerly and southwesterly to the limits of the city of Moose Jaw. 8. The company may also as part of its business produce supply electric and accumulate electricity and electro motive force or other similar agency and supply the same for the production, transmission or use of any lighting, heating, motive or other power as may be thought advisable and to light streets, public places, public or private buildings, factories, railways, tramways and other places or things by means of electricity or to enable the same to be lighted: Eond issue Company may agree with municipality respecting traffic, etc. Provided however that the powers conferred by this section shall not be exercised or be applicable within the present or any future limits of the city of Regina or the city of Moose Jaw. (2) The powers conferred by this section shall be exercised subject to the provisions of chapter 77 of The Revised Statutes of Saskatchewan 1909. 9. The company may issue bonds, debentures or other securities to the extent of $12,500 per mile of the railway or tramway and branches and such bonds, debentures or other securities may be issued in proportion to the length of the railway constructed or under contract to be constructed. 10. The directors of the company may at any time and from time to time make and enter into any agreement or arrangement with any municipal corporation in this province owning or operating a municipal street railway for the regulation and interchange of traffic passing to and from the railways of the said company and the said municipal corporations and for the working of the traffic over the said railways respectively or for either of those objects separately and for the division and appointment of tolls, rates and charges in respect of such traffic and generally in respect to the management and work ing of the railways or any of them or any part thereof and of (a) The proposed agreements or arrangements shall not (b) Before the same can come into effect the sanction of (2) The procedure for such sanction shall be as provided in subsection 2 of section 203 of The Railway Act. may purchase within city 11. In the event of the boundaries of the city of Regina City of Regina being at any time extended so as to bring any portion of the undertakings company's railway or tramway or electric wires, plant or equipment within the limits of the said city of Regina and in the judgment of the city council of said city it would be in the interests of the city to acquire such portion of the said railway or tramway or electric wires, plant or equipment or any part thereof so brought into the limits of said city the company shall at any time after the date of the extension of the boundaries of said city upon the city giving to the company ninety days' notice in writing sell to the city such portion of the said railway or tramway and electric wires, plant and equipment as has been brought into the city limits or any part thereof at the then market value of the corporeal property of the company; and in the event of the company and the said city being unable to agree upon a valuation then and in such case the proper valuation shall be ascertained by arbitration and for such purposes the company and the city shall each appoint one arbitrator and the two arbitrators so appointed shall select a third arbitrator and the decision of such arbitrators or a majority of them shall be final and binding upon the parties. (2) This section shall be deemed to be a submission within the meaning of The Arbitration Act and the provisions of said Act shall apply thereto. City of Moose Jaw may purchase undertakings within city limits Application of Railway Act 12. In the event of the city of Moose Jaw acquiring and operating the street railway now in existence in the said city of Moose Jaw and in the event of the boundaries of the city of Moose Jaw being at any time extended so as to bring any portion of the company's railway or tramway or electric wires, plant or equipment within the limits of the said city of Moose Jaw and in the judgment of the city council of said city it would be in the interests of the city to acquire such portion of the said railway or tramway or electric wires, plant or equipment or any part thereof so brought into the limits of said city the company shall at any time after the date of the extension of the boundaries of said city upon the city giving to the company ninety days' notice in writing sell to the city such portion of the said railway or tramway and electric wires plant and equipment as has been brought into the city limits or any part thereof at the then market value of the corporeal property of the company; and in the event of the company and the said city being unable to agree upon a valuation then and in such case the proper valuation shall be ascertained by arbitration and for such purposes the company and the city shall each appoint one arbitrator and the two arbitrators so appointed shall select a third arbitrator and the decision of such arbitrators or a majority of them shall be final and binding upon the parties. (2) This section shall be deemed to be a submission within the meaning of The Arbitration Act and the provisions of said Act shall apply thereto. 13. The several clauses of The Railway Act shall be and the same are hereby incorporated with this Act and the same shall form a part and be construed with this Act as forming one Act and the same shall apply to the company and to the railway or tramway to be constructed by it excepting in so far as the said clauses are expressly varied by this Act or are inconsistent with the express enactments thereof; and the expression "this Act" when used herein shall be understood to include the clauses of The Railway Act aforesaid. |