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Township, passed in January last, will more fully appear: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, That the whole of the Act 4 & 5 Vict. c. 80, said Act passed in the Session held in the fourth and fifth years of Her Majesty's Reign, repealed. and intituled, An Act to establish a Company by the name of the Sydenham Mountain

Road Company, is hereby repealed, excepting that portion which relates to the amount Exception. of Tolls to be demanded and taken, which Tolls are hereby vested in George Rolph, his

heirs and assigns, for ever.

II. And be it enacted, That the said George Rolph, his heirs and assigns, shall have G. Rolph may recover full power and authority to demand, sue for, collect and recover the Tolls allowed by tolls. this Act, in the same manner as is pointed out by the Act passed in the twelfth year of Her Majesty's Reign, and intituled, An Act to authorize the formation of Joint Stock 12 Vict. c. 84. Companies for the construction of Roads and other Works in Upper Canada, and that all the provisions of the said last mentioned Act against parties evading or assisting others to evade Tolls, shall extend and apply to the Tolls authorized to be levied under this Act.

III. And be it enacted, That whenever the Tolls shall in annual receipts exceed in amount a sum sufficient to defray the expenses of maintaining and repairing the said Road, and to afford an annual income to the said George Rolph, his heirs and assigns, of ten per cent. profit, on the Capital expended in the construction of the said Road from the commencement of its being travelled upon, then and in such case the said Tolls shall be reduced, so as not to exceed the ten per cent. profit to the said George Rolph, his heirs and assigns.

IV. And be it enacted, That the Government of this Province or the County Municipal Council, shall be at liberty, at any time whatever, to purchase the said Road from the said George Rolph, his heirs and assigns, paying to the said George Rolph, his heirs and assigns, the Capital hereinbefore mentioned, together with fifteen per cent. advance thereupon; and it is also hereby provided and declared that if any deficiency of the said ten per cent. annual profit should occur in the case of the said Road, such deficiency shall be chargeable against the increasing revenue of the subsequent years, so that the said George Rolph, his heirs and assigns, may fairly and actually receive ten per cent. profit on their said expenditure of Two Thousand Six Hundred and Fifty Pounds.

V. And be it enacted, That after purchase by the Government of this Province, or by the Municipal Council of the United Counties of Wentworth and Halton, it shall and may be lawful for the Township Municipality of the Township of West Flamborough, or the Town Council of the Town of Dundas, to purchase from the Government, or the said County Municipality, the said Road, together with all Tolls, Rights and Advantages thereto belonging.

VI. And be it enacted, That the said George Rolph, his heirs and assigns, shall annually, if required, exhibit an account to either branch of the Legislature of the Province, or to the Municipal County Council, of the Tolls collected and the amount thereof received, and of the sums expended in keeping the Road in repair; and also such accounts authenticated in such manner and form as the authority so requiring the same may deem satisfactory.

Tolls to be reduced

when the profits ex

ceed a certain rate.

Government, &c., may purchase the

Road, and at what

rate.

Town Council of West Flamborough chase the Road from Government, or the

or Dundas may pur

County Council.

G. Rolph to exhibit accounts, if required,

VII. And be it enacted, as it was found necessary to alter the original Survey of Course and width of the Road, That the same shall commence and terminate agreeably to the last Survey Road, made by Hugh McMahon, Esquire, Deputy Provincial Surveyor, that is to say: commencing on the centre of said Road at its junction with Melville Street, in the Town of Dundas; thence, north, eight degrees thirty minutes, east, twelve chains thirtyfour links, to the lower bridge; thence, north, twenty degrees ten minutes, west, eight

Recital.

Town Council of West Flamborough may make culverts, &c.

The Kill Horse Road to be shut up in a certain place, &c.

Public Act.

Preamble.

chains seventy links, to the northern limits of the aforesaid Town of Dundas; thence, on the same course, north, twenty degrees ten minutes, west, three chains two links, to the Toll-Gate; thence, north, twenty-six degrees thirty minutes, west, seven chains seventy-five links; thence, north, eighty-seven degrees forty-five minutes, east, four chains; thence, north, fifty-eight degrees, east, five chains twenty-eight links; thence, north, thirty-eight degrees, thirty minutes, east, one chain fifty links; thence, north, sixtythree degrees, east, two chains forty-six links; thence, north, sixty-four degrees thirty minutes, east, eight chains sixty-four links; thence, north, fifty-two degrees, east, fifteen chains ninety-three links, to the top of the Mountain; thence, north, forty-seven degrees thirty minutes, east, two chains twelve links; thence, north, twenty-four degrees, east, five chains eighty links, to the old Road,—the breadth of the Road for the first thirty-one chains eighty-one links being forty feet; thence, for twenty-one chains eighty-one links, being sixty-six feet in width; thence, tapering to the top of the Mountain, where, on account of the great depth of rock cut through, it is only thirty feet in width, but from the top of the rock increases to forty feet in breadth, to the old Road, commencing secondly on Melville Street; thence, south, ten degrees west, eleven chains, more or less, to King Street, the breadth of this section as now established. VIII. And whereas it may be found necessary hereafter to enter upon the lands of persons adjoining the said Road, for the purpose of draining off the water which overflows, at certain seasons, the Sydenham Road, that the Road may be more effectually saved from injury, by the formation of a culvert or drain across the said lands into the old Kill Horse Road: Be it therefore enacted, That the Municipal Council of West Flamborough shall have power and authority to enter upon the said lands, and make and construct such culverts or drains as may be necessary to protect the said Sydenham Road, the said George Rolph, his heirs and assigns, paying to the said Council the expenses of making the same.

IX. And be it enacted, That the said Kill Horse Road referred to in the preamble of this Act, shall be shut up as far as the same passes through the property of the said George Rolph, from the top of the Mountain to the north-east corner of the land belonging to James Hare, of Dundas, and no further, and be enclosed by him so long as the said Sydenham Road is kept open to the public, upon due payment of Tolls allowed by this Act.

X. And be it enacted, That this Act shall be deemed and taken to be a Public Act.

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An Act to authorize the Grand River Navigation Company to raise, by way of Loan, a certain sum of money, and for other purposes therein mentioned.

W

[ 30th August, 1851. ]

HEREAS the Grand River Navigation Company have heretofore necessarily incurred a Debt of upwards of Twelve Thousand Five Hundred Pounds in completing the navigation to the Town of Brantford, and have issued Bonds or Debentures for the same, payable at different periods, with interest; And whereas the said Company are also otherwise indebted to upwards of Three Thousand Pounds; And whereas in view of the increased business which would be done on the said navigation in case the Lower Locks were enlarged to the same size as those nearest the Town of Brantford, and the Channel deepened to three feet and a half, the said Company are desirous, not only to provide for the payment of the present Debts, but also to enlarge the said Lower Locks and deepen the Channel; And whereas the expense of enlarging the said Locks and deepening the Channel as aforesaid is estimated to cost the sum of Nine Thousand Pounds: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom

of

tures.

of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, That it shall and may be lawful for the said Grand River Loan of £40,000 may Navigation Company, to raise, by way of Loan, the sum of Forty Thousand Pounds, be raised on Debenin order to pay off all its Debts and deepen the Channel of the said River to not less than three and a half feet, and to enlarge the Lower Locks on the said navigation to an equal size as those nearest to the Town of Brantford; and that it shall and may be lawful for the said Company to issue its Debentures for the raising of the said Loan, in such sums as the said Company may find expedient, but not to run longer than twenty years, nor to have a higher rate of interest than six per centum per annum; the interest to be paid semi-annually during the term such Debentures may have to run.

II. And be it enacted, That it shall and may be lawful for the present or future Holders of the present Debentures, and other Creditors of the said Company, to subscribe for the Capital Stock in the said Company, to the amount of their several and respective claims against the said Company; and that in such case the Directors of the said Company shall and may by a By-law or By-laws increase the Capital Stock of the said Company to the amount so to be subscribed for, and that such Increased Stock shall be Preferred Stock, upon which the said Company shall pay a sum, first, semi-annually, as shall be equal to six per centum per annum, before making any dividends or payments on other Capital Stock of the said Company: but said six per centum per annum, so to be paid on such Preferred Stock, shall be in the nature of Dividends, and said Stock shall not share in further Dividends out of the profits made by the said Company, until the Dividends on the remaining Stock shall annually amount to an equal sum of six per cent. per annum; after which all of which said Capital Stock shall share equally any profits over and above the amount of six per cent. per annum. III. And be it enacted, That it shall and may be lawful for the Town of Brantford, in its corporate capacity, to lend its credit to the said Grand River Navigation Company, by issuing the Debentures of the said Town, in such sum or sums as may be agreed upon, by and between the Directors of the said Company, or a majority of them, and the Town Council of the said Town of Brantford, to the extent of Forty Thousand Pounds, bearing interest not exceeding six per cent. per annum; such interest to be payable semi-annually, and the principal sum within twenty years; such Debentures to be applied, firstly, in payment of the said Debt of the said Company, and secondly, in deepening the Channel of the said navigation and enlarging the Lower Locks on the same to the required size; that it shall not be necessary for the said Town Council of Brantford to advertise the intention of passing a By-law granting such credit before granting the same; and it shall be the duty of the said Council, in granting such credit, to pass a By-law imposing a Rate on all taxable property of the said Town of Brantford, as will provide for the payment of the said interest on such Debentures and the ultimate payment of the principal sum thereof, in case the said Grand River Navigation Company shall, for any cause, be unable to pay the same; and that such Rate may be assessed on all the assessable property in the said Town of Brantford, which may be in the said Town at the time of actually levying the same, but that the said Assessments shall not be levied at any time, excepting to supply any deficiency on the part of the said Grand River Navigation Company in paying the interest or principal sum of Forty Thousand Pounds.

IV. And be it enacted, That in case the said Town of Brantford so loaning its credit as aforesaid, the said Town of Brantford shall be entitled to elect two Directors to the Board of Directors, of the said Grand River Navigation Company on or after the annual election now defined by the Act or Acts relating to the said Company, which said two Directors shall be in addition to the present number and shall be appointed or elected by the Town Council of the said Town of Brantford from amongst the Members of the said Town Council or from amongst the Rate-Payers of the said Town of Brantford qualified to be elected Councillors of the said Town, and the said Town shall be so represented at the said Board of Directors until the said Debentures and interest thereon 264 shall

Creditors may sub

cribe for Stock,
ed by Preferred Stock
accordingly.

which may be increas

Town of Brantford may lend its credit to ing Debentures to the the Company, by issuextent of £40,000.

In that case the Town to elect two Directors of the Company.

Debentures to be as a Mortgage on the property of the Company.

Sinking Fund to be

its credit.

shall be finally and fully paid, and on and after which the power of electing such two Directors shall cease.

V. And be it enacted, That for the security of the said Town of Brantford against loss by its so loaning its credit, the said Debentures shall have the same effect as a Mortgage upon all the property and income of the said Grand River Navigation Company, with the exception of Town or Village Lots now or hereafter to be laid out (not meaning to except those Lots on which there is or may be Water Power); and that the proceeds of the sale of such Lots, which may hereafter be sold, shall be applied to the payment of the interest on such Debentures.

VI. And be it enacted, That in case the said Town of Brantford shall so loan its formed if Town loans credit to the said Grand River Navigation Company, the Directors of the said Company shall, after the expiration of Ten Years from the passing of this Act, annually set apart a sum of not less than two per cent, upon the Capital Stock out of the annual revenues of the said Company after paying the interest on the said Debentures, to form a Sinking Fund to redeem the said Debentures, which said per centage shall be invested by the Board of Directors of the said Company in such funds as they may see fit for that purpose.

Directors for current year.

Preamble.

VII. And be it enacted, That the said Town Council shall and may elect the two Directors aforesaid for the current year, to represent the said Town immediately on and after so loaning its credit to the said Grand River Navigation Company for any portion of such Loan.

CAP. CLII.

An Act for incorporating and granting certain powers to a Company for the encouragement of Manufactures on the Welland Canal.

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[ 30th August, 1851. ]

HEREAS the establishment of an Incorporated Company, with power to loan Money to persons desirous of erecting Mills and Manufactories on the Welland Canal, would induce the investment of a large amount of private capital in Manufactories, and lead to the most beneficial results, both to the Government, by the increase of trade and tolls on the Welland Canal, and to the inhabitants of Canada, by the increase of a home market for their produce: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and Certain persons incor- it is hereby enacted by the authority of the same, That James Rea Benson, Nehemiah

porated.

Corporate name and powers.

The right to certain estate transferred from the persons

Merritt, Andrew Heron, John Ker, John Latham Ranney, William Hamilton Merritt, the younger, John Hamilton Conolly, and William Austin Chisholm, and their successors, and such other and so many other persons or parties as may or shall become Shareholders in the Capital Stock hereinafter mentioned, shall be and they are hereby constituted a Body Politic and Corporate, by the name of the "Welland Canal Loan Company," and by that name shall and may sue and be sued, implead and be impleaded, answer and be answered unto, in all Courts of Law or Equity whatsoever, and shall have perpetual succession, with a Common Seal, which may be changed or varied at their pleasure.

II. And be it enacted, That the right to all estate, property, privileges or advantages sold or granted, or agreed to be sold or granted by the Crown, through the Commisaforesaid to the corpo- sioners of Public Works, to James Rea Benson, Nehemiah Merritt, Andrew Heron, John Ker, John Latham Ranney, William Hamilton Merritt, the younger, John Hamilton Conolly, and William Austin Chisholm, on the twenty-second day of April, one thousand eight hundred and fifty-one, at St. Catharines, in the County of Lincoln,

ration hereby created.

at

at the Government Sale of Welland Canal Lands, and purchased by the said parties
on the understanding and agreement that they should form themselves with others
into a Company, with a Capital of Fifty Thousand Pounds, shall be transferred to and
vested in the Corporation established hereby, in the same manner as though the said
Purchasers had fully assigned and set over their rights and property in the same to the
said Company by Deed; and that the said Corporation shall be and stand in the place
and stead of the said James Rea Benson, Nehemiah Merritt, Andrew Heron, John
Ker, John Latham Ranney, William Hamilton Merritt, the younger, John Hamilton
Conolly, and William Austin Chisholm, and become and be liable to Her Majesty for
the Purchase Money due and owing on account of the same: Provided always, Proviso.
nevertheless, that nothing herein contained shall relieve the said parties above named
from their present liability to the Crown for the Purchase Money due on the said Sale;
but the said parties, their heirs, executors and administrators shall be jointly and
severally liable to the Crown for the payment of such Purchase Money, according to
the terms of the said sale.

Capital.

III. And be it enacted, That the Capital Stock of the Corporation hereby constituted shall be Fifty Thousand Pounds, and be divided into Two Thousand Shares, which Shares. shall be numbered from one to two thousand, and be respectively distinguished by the numbers affixed to them.

IV. And be it enacted, That no Shareholder in the said Corporation shall be in any Liability of Sharehol manner whatsoever liable for, or charged with the payment of any debt or demand ders, due by the said Corporation, beyond the amount of his or their Shares in the Stock of

the said Corporation.

V. And be it enacted, That all Shares in the said Company shall be personal Shares to be personalproperty, and transmissible and assignable as such.

VI. And be it enacted, That it shall be lawful for the said Company to acquire by purchase, mortgage, or otherwise, and to hold, either absolutely or conditionally, any lands, real property, or hydraulic privileges, and to lay out and apply the Capital and other property for the time being of the Company, or any moneys raised by the Company, in acquiring by purchase, mortgage, or otherwise, such property, lands and privileges in the Counties of Lincoln and Welland: Provided that the said Company shall not have a larger amount than Twenty-five Thousand Pounds invested in lands at any one time.

VII. And be it enacted, That the Company shall be, and they are hereby authorized and empowered to lay out and invest their Capital, in the first place in paying the cost of this Act, in paying the Purchase Money due to Her Majesty as aforesaid, and all expenses in laying out their property to the best advantage, in streets and lots, or, in the purchase of such lands within the said Counties as it may appear suitable or advantageous for the Company to buy. The remainder of their Capital, as it is called in, as well as the Capital hereinafter authorized to be raised by the Company, they may loan, and advance by way of Loan, on the Security of Real Estate within either of the Counties aforesaid, at such rates of interest, not exceeding six per centum per annum, as to the Company shall be deemed satisfactory, for the following purposes, namely: for the Building, Erecting, Enlarging, or Improving of any Mills, Factories, or Machinery whatsoever, on the line of the Welland Canal.

VIII. And be it enacted, That it shall be lawful for the said Company, from time to time, to deal with, and dispose of any or all lands acquired or held in trust for the said Company, or contracted for, or to which the said Company shall be entitled, or of any trust thereof, by such mortgage or lease or other disposition thereof which they may deem most conducive to promoting the objects and advantages of the said Corporation; and the said Company shall, and are hereby authorized to lay out and invest their Capital and property for the time being, or any moneys to be raised by them, in so dealing and disposing of their lands.

ty.

Company may ac quire certain property,

To what purposes the Capital of the Company shall be applied.

Company may dispose of lands, &c.

IX. Provided always, and be it enacted, That nothing in this Act shall authorize the Not to act as bankers, said Company to issue Bank Notes, or in any way to act as Bankers.

264 *

X.

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