Company to keep books of

account, &c.

Directors may

increase capital stock.

President and

tolls, &c.

4. The amount of dividends paid and the amount expended for repairs; and

5. The amount of debts due by the Company. 16 V. c. 124, s. 13.

20. Every Company shall keep regular books of account, in which shall be entered a correct statement of the assets, receipts and disbursements of the Company, and such books shall be at all times open for the inspection of any person for that purpose appointed by the Municipality. 16 V. c. 124, s. 13.

21. If the Directors of any Company find the Stock already subscribed insufficient to finish the contemplated Work, they may increase the Capital Stock of the Company. 16 V. c. 124, s. 14.

22. The President and Directors of the Company shall, subDirectors to fix ject to the approval of the Governor, fix and regulate, from time to time, the tolls, rates, dues or wharfage to be received from all vessels entering their Harbour or lying at their Pier or Wharf, and for loading and unloading all goods, wares or inerchandize in such Harbour, as to them seems meet; but such tolls, rates, dues or wharfage shall not in any case exceed the amount herein specified. 16 V. c. 124, s. 9.

Municipal Cor

hold stock in

Company.

23. Any such Company or their Agent, Officers or Servants, may detain any goods, wares or merchandize, or any vessel, boat or craft, until the legal tolls or charges thereon have been paid, and may sell any vessel or boat for the charges for repairs thereof when such charges have remained unpaid for the space of thirty days, and in cases where the charges for wharfage or storage dues on goods, wares or merchandize have remained unpaid for the space of one year, the Company, their Agents, Officers or Servants, after giving ten days' notice of sale, may, by public auction, sell such goods, wares or merchandize, or such part thereof as may be necessary to pay such dues, and shall return the overplus, if any, to the owner or owners thereof. 16 V. c. 124, s. 10.

24. Any Municipal Corporation having jurisdiction in porations may the locality in which any such work is to be constructed, may subscribe for, obtain, hold, or depart with, and transfer Stock in the Company, and may from time to time direct the Mayor, Reeve, Warden or other Chief Officer of the Municipality, to subscribe for such Stock in the name of the Municipality, and to act for the Municipality in all matters relative to such Stock and the exercise of the rights of the Municipality as a Stockholder, and such Chief Officer shall, whether otherwise qualified or not, be deemed a Stockholder in the company, and may vote and act as such, subject to the rules and orders in relation to his authority, which may be

made

made in that behalf by the Municipal Council, but voting according to his discretion in cases not provided for by such Council, 16 V. c. 124, s. 11.

stock out of

25. Any Municipality so taking Stock may pay for the Municipality same out of any moneys belonging to the Municipality, muy pay for and not specially appropriated to any other purpose, and may unappropriated apply the moneys arising from the dividends or profits on moneys of Muthe stock or from the sale thereof, to any purpose to which unappropriated moneys belonging to the Municipality may lawfully be applied. 16 V. c. 124, s. 11.

nicipality.

stock.

26. Any Company may sell to any Municipality represent- Municipalities ing the interest of the locality in which the work is situate, may purchase and any such Municipality, may purchase the Stock of such Company at the value agreed on between them, and such Municipality shall hold the same for the use and benefit of the locality; and shall, in all respects thereafter, stand in the place of the Company, and shall possess all such powers and authority as the Company had theretofore possessed and exercised. 16 V. c. 124, s. 12.

27. Any Municipality desirous of purchasing any such Municipality work, may borrow money or raise the means of paying therefor, may borrow by By-law to be passed under the provisions of the Act respect- chase work uning the Consolidated Municipal Loan Fund. 16 V. c. 124. der Municipal

s. 12.

money to pur

Loan Fund

Act.

28. Any such Company may borrow money on the security company may of such work, not exceeding one half the value thereof. 16 V. borrow money c. 124, s. 15.

on security of work.

Company to

29. In case any Pier or Wharf constructed by any Joint Sale of works Stock Company incorporated under the Laws of Upper Canada to pass the has been sold or be sold after this Act takes effect, either by rights of the such Joint Stock Company or under some power granted by the purchaser. them, or under legal process against such Company, the sale or sales shall, in all cases, be deemed to have passed and to pass such Piers or Wharves to the purchaser or purchasers thereof, with all the rights, privileges and appurtenances, and subject to all the duties and obligations which the Law gave or imposed with reference to such Pier or Wharf, whilst the same continued the property of the Joint Stock Company which had constructed the same. 22 V. c. 43, s. 1. (1859.)

Company may

when, and

30. So soon as any such Pier, Wharf or Harbour is so far completed as to be capable of receiving and shelter- demand tolls, ing vessels, and of safely loading and unloading the same, amount, &c. the Company may demand and take as toll or a wharfage to and for their own use and benefit, on all goods, wares and merchandise shipped on board or landed out of any vessel, boat or other craft from or upon any such Pier or Wharf

FF

within

within the bounds of every such Harbour, not exceeding the following, that is to say:

Municipality, after 21 years, may purchase the stock of Company.

Legislature

may alter and amend this Act.

Preamble.

31. Any Municipal Council representing the interests of the locality in which the work is situate, may, after twenty-one years from the time of such work being so far completed as that tolls were and have been collected thereon, purchase the Stock of such Company at the current value thereof at the time of purchase, and shall hold the same for the use and benefit of such locality; and such Municipality shall thenceforth stand in the place of the Company, and the Council thereof shall possess all such powers and authority as the Company had theretofore possessed and exercised. 16 V. c. 124, s. 17.

32. Notwithstanding the privileges conferred by this Act, the Legislature may, at any time hereafter, in their discretion, make any such additions to this Act, or such alterations of any of its provisions, as they think proper, for affording just protection to the public, or to any person or persons, body corporate or politic, in respect to their estate or property, or right or interest therein, or any advantage, privilege or convenience connected therewith, or in respect to any right, public or private, that may be affected by any of the powers given to any such corporation. 16 V. 124, s. 18.

CAP. LI.

An Act for the promotion of Agriculture in Upper
Canada.

IT

T being expedient to encourage the formation of Joint Stock Companies authorized to hold land and erect edifices to be used for the holding of periodical fairs or exhibitions for agricultural purposes, and that a general law should exist to enable

Joint Stock Companies to purchase and hold land for the purposes aforesaid, and to construct suitable buildings thereon, and to empower Municipal Corporations to subscribe a portion or the whole of the necessary capital for the purposes aforesaid: Therefore, Her Majesty, by and with the advice and consent of the Legislative Council and Assembly of Canada,. enacts as follows:

1. Any number of persons, not less than five, may, in Upper Companies Canada, form themselves into a Company under the provi- may be formed sions of this Act, for the purposes aforesaid. 22 V. c. 44, s. 1. (1859.) mentioned in

for purposes

the Preamble.

2. When any number of persons not less than five Conditions on have subscribed a sufficient quantity of stock to amount to a which any sum equal in their judgment to the amount required for the such Company may become purchase of the ground necessary for an edifice to be used for incorporated. the purposes mentioned in the preamble to this Act, and the erection of such edifice thereon and of the additional ground required for the holding of Agricultural fairs or exhibitions, and have executed an instrument according to the form in the schedule A to this Act contained; and have paid to the Treasurer of such intended Company twenty-five per cent. upon the capital stock intended by such Company to be raised for the purposes aforesaid, and have registered such instrument at full length together with a receipt from the Treasurer of such Company for such first instalment of twenty-five per cent. with the Registrar of the County or city in which such edifice is to be or is intended to be built, such Company shall thenceforth become and be a body corporate by such name as may be designated in the instrument so to be registered as aforesaid; and they and their successors by their corporate Name and corname shall be capable of taking, purchasing, having and hold- porate powers. ing any piece or parcel of land in Upper Canada for the purpose of erecting such edifice as aforesaid, and also for holding such fairs or exhibitions as aforesaid; such parcel of land not to contain more than one hundred acres. Ibid, s. 2.

3. The affairs, property and concerns of every such Compa- Directors. ny, formed under the provisions of this Act, shall be managed by not less than three nor more than nine Directors, who shall be shareholders, and subjects of Her Majesty, and a majority of Quorum.. whom shall form a quorum capable of doing business. Ibid, s. 3.

4. The said Directors shall in the first instance be chosen by Election. ballot from among the subscribers to the said instrument so to be registered as aforesaid, and thereafter shall be annually elected by the said stockholders, on the second Monday in January in each and every year; and upon Voters.. the first and every such election of Directors each shareholder shall be entitled to one vote for every share he may hold or be possessed of up to ten, and one vote for every five shares above

ten; but no stockholder shall be allowed to vote at any election Shares must be unless he has paid all calls upon each share he may hold. Ibid, s. 3. paid up.

President.

Casting vote.

By-laws, &c.

Secretary and
Officers.

Shares.

To be person

alty.

Calls.

Forfeiture of

5. The Directors or a majority of them shall, at their first annual meeting, elect one of their number to be president of such Company, and the president, if present, (or if not present then some Director chosen for the occasion), shall preside at all meetings, and in case of equality shall have the casting vote, 22 V. c. 44, s. 4. (1859.)

6. The said directors may pass By-laws for the regulation of the affairs of such Company, and shall keep a book in which shall be recorded all By-laws and proceedings and to which any person shall have access for the purpose of searching the same and making extracts therefrom, without payment of any fee whatsoever. Ibid, s. 4.

7. Every such Company shall have a Secretary and Treasurer and such subordinate officers as the Company by its Bylaws may require, who shall be elected by the Directors and required to give such security for the faithful performance of the duties of their respective offices as the Company by its By-laws may provide. Ibid, s. 5.

8. Each share in every such Company shall be twenty dollars, and shall be regarded as personal property, and shall be transferable upon the books of such Company, in such manner as may be provided for by the Directors in that behalf. Ibid, s. 6.

9. The Directors of any such Company may call in and demand from the stockholders thereof respectively all sums of money by them subscribed, at such times and in such payments or instalments as such Directors deem proper, under the shares for non penalty of forfeiting the shares of stock subscribed for and all previous payments made thereon, if payment be not made by the stockholders respectively, within sixty days after a personal demand, or after notice requiring such payment has been published for six successive weeks in the newspaper nearest the place where the business of the Company is being carried on as aforesaid. Ibid, s. 7.

payment.

Municipalities

&c.

10. Any Municipal Corporation in Canada may subscribe may take stock, for, acquire, accept, and hold, and may depart with and transfer stock in any Company to be formed under the authority of this Act, and from time to time may direct the Mayor, Warden, or other chief officer thereof, on behalf of such Municipality, to subscribe for such stock in the name of such Municipality, and to act for and on behalf of such Municipality, in all matters relative to such stock, and the exercise Mayer, &c., to of the rights of such Municipality as a stockholder; and the represent such Mayor, Warden, or other chief officer shall, whether otherwise qualified or not, be deemed a stockholder in the Company, and may vote and act as such, subject always to such rules and orders in relation to his authority, as may be made in that behalf by such Municipality, by their Bylaws, or otherwise, but acting according to his discretion

stock.