WHEREAS, the Municipal Council of the Munici- Preamble. pality of Lunenburg has resolved that Boehner Bros., of West LaHave Ferry, in the Municipality of Lunenburg, be exempt from taxation;

Be it therefore enacted by the Governor, Council, and Assembly, as follows:

1. All the real and personal property, plant and Tax exemption. earnings of said Boehner Bros., of West LaHave Ferry, in the Municipality of Lunenburg, are exempted from all municipal rates and taxation, except school rates, for a period of five years beginning January 1st, 1913, provided that such exemption shall not apply to any dwellings or property not connected with the manufacturing property or woodworking industry of said Boehner Bros.

liable to tax

2. In case any property mentioned in this Act to be Property, when exempted is not used or ceases to be used by said ation. Boehner Bros., for one year as a wood-working establishment or manufactory, then said property shall be assessed at its usual value in the same way as other real and personal property is assessed in said municipality.

what applicable

3. The exemption granted by this Act is only ap- Exemption to plicable to such real and personal property and plant as is held by said Boehner Bros. at the passing of this Act, and shall not apply to any real estate that may be subsequently acquired by said Boehner Bros.

exemption.

4. The period of exemption granted by this Act Period of may be extended for an additional period of five (5) years, but not so as to comprise more than ten (10) years in the whole, if the Municipal Council so determines by resolution.

CHAPTER 170.

An Act Entitled "An Act to Incorporate the Cape
Breton Golf Club, Limited."

Be it enacted by the Governor, Council, and Assembly, as follows:

Incorporation. 1. H. J. McCann, Colin MacKenzie and E. E. Shaw, all of the City of Sydney, in the County of Cape Breton; Stuart McCawley, A. J. Tonge, A. Y. McDonald and Frank G. Moffatt, all of Glace Bay, in the said County of Cape Breton; William Vanderover and Malcolm Martin, both of Dominion, in the said County of Cape Breton, and such other persons who may hereafter become shareholders in the said company, and their successors, are hereby constituted a body corporate under the name of "The Cape Breton Golf Club, Limited."

Objects.

Capital stock.

Directors named.

2. The objects of the said company shall be to take, acquire, purchase, sell, hold, convey, mortgage, lease, use, utilize and deal in real estate and personal property to the value of fifty thousand dollars, and all interests and easements therein; and to let, sell, mortgage, or dispose of any of the property, franchises, rights or privileges which it may at any time own at its discretion.

3. The capital stock of said company shall be fifty thousand dollars, divided into one thousand shares of fifty dollars each.

4. The persons named in the first section of this Act are hereby constituted the directors of this company until replaced by others duly appointed in their stead.

powers.

5. The directors of the company shall have full Directors' power in all things to administer the affairs of the Company, and to make or cause to be made for the Company any description of contract which the Company may by by-law enter into, and may from time to time make by-laws not contrary to law, to regulate the allotment of stock, making of calls thereon, the payment thereof, the issue and registration of certificates of stock, the forfeiture of stock for non-payment, the disposal of forfeited stock and of the proceeds thereof, the transfer of stock, the declaration and payment of dividends, the number of the directors, their term of service, the amount of their stock qualification, the appointment, functions, duties, and removal of all agents, officers and servants of the Company, the security to be given by them to the Company, their remuneration, and that (if any) of the Directors, the time at which and place where the annual meetings of the Company shall be held, the calling of meetings, regular and special, of the Board of Directors and of the Company, the quorum, the requirements as to proxies, and the procedure in all things of such meetings, the imposition and recovery of all penalties and forfeitures admitting of regulation by by-law, and the conduct in all other particulars of the affairs of the Company; and may from time to time repeal, amend or re-enact the same, but every such by-law, and every repeal, amendment or reenactment thereof, unless in the meantime confirmed at a general meeting of the Company duly called for that purpose, shall only have force until the next annual meeting of the Company, and in default of confirmation thereat shall at and from that time only cease to have force; provided always, that one-fourth part in value of the shareholders of the Company shall at all times have the right to call a special meeting thereof for the transaction of any business specified in such requisition and notice as they may issue to that effect, but all such by-laws, and every repeal, amendment or re-enactment thereof, shall be subject to the approval of the Governor-in-Council.

fully paid up.

6. The Company may upon such terms as the Issue of shares directors deem for the interest of the Company issue as fully paid up the shares of the Company, and it may also (but not so as to limit any rights or powers

Limited liability.

Paint and affix.

herein otherwise conferred) upon such terms as the directors may deem for the interests of the Company, pay and allot such shares in payment of real and personal property; and also may on such terms as the directors may deem for the interests of the Company, pay and allot such fully paid up shares in payment for services or work done by contractors or other persons; and may, upon such terms as the directors may deem for the interests of the Company, allot and pay over such fully paid shares in whole or partial payment of the purchase, lease or other acquisition of the lands and other property which the Company is authorized to acquire or construct or own. The issue, allotment and payment of such fully paid shares by the directors of said company shall be binding upon the Company, and shall make the same fully paid shares; and the same shall not be assessable for or subject to any calls for any purpose whatsoever, and the holders of said shares, alotted and paid as aforesaid, shall not be subject to any personal liability whatsoever in respect thereof.

7. No member or director of the Company shall be liable in his person to separate estate for the debts or liabilities of the Company to a greater amount in the whole than the amount of stock held by him, deducting therefrom the amount actually paid on account of such stock, unless he shall have rendered himself liable for a greater sum by becoming surety for the debts of the Company; but no shareholder who may have transferred his interest in the stock of the Company shall cease to be liable to the amount unpaid on shares so held by him for any debt or on any contract of the Company entered into before the date of such transfer, so as any action in respect thereof shall be brought within six months after such transfer.

8. The Company shall paint or affix, and shall keep painted or affixed, its name with the word "limited" after it, or forming part of said name, on the outside of every office or place in which the business of the Company is carried on, in a conspicuous position in letters easily legible, and shall have its name with the said word "limited" after it, or forming part of its name, mentioned in legible characters in all

notices, advertisements and other official publications of the Company, and in all bills of exchange, promissory notes, cheques, orders for money or goods purporting to be drawn, made, signed, given or endorsed by or on behalf of the Company, and in all bills, invoices, receipts, letters and other writings used in the transaction of the business of the Company, and the Company shall be liable to a penalty of twenty dollars for every neglect or omission of the name of the Company, with the word "limited" after it, or forming part of said name, in any of the above cases.

cure loans.

9. The said company shall have power and au- Bonds to thority by its proper officers, to make and execute any bonds, covenant, or agreement necessary to secure any loan or advance made to the Company in respect of its business; and also shall have the power and authority, through its proper officers, to make and execute any deed or mortgage or real or personal estate containing the usual covenants contained in such documents.

se

and hold land.

10. The Company may receive, take, hold and May receive enjoy all grants, donations or conveyances of land, or other property, made to the Company, and may sell, lease, mortgage, exchange or otherwise dispose of the same as may be deemed advisable for the purpose of aiding in the objects of the Company; provided that any property so acquired, or the proceeds thereof, shall be held and used for the purposes of such grants, donations or conveyances only, and for no other purpose whatsoever.

bonds.

11. The directors of said company are hereby au- Amount of thorized and empowered to issue the registered or authorized. coupon bonds of the Company equal to the amount of stock issued, in such denominations, upon such rate of interest, and upon such other terms, stipulations and conditions, as they may by vote determine, and said bonds shall be under the seal of the corporation and signed by its president and secretary.

12. To secure the payment of the aforesaid bonds, Trust deed the directors of said company are hereby authorized and empowered to cause to be executed and delivered, in the name and behalf of said company, a deed of