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When Act shall cease.

pany in the performance of the conditions of said mortgage or deed of trust; and the holders of such bonds or debentures, or any person claiming by, through or under them, or any purchaser from said trustee or trustees, in case they shall take possession of said property under the provisions of said mortgage or deed of trust, may organize themselves into a corporation in the manner provided in this Act for the organization of the company, and the provisions of this Act or any Act in addition hereto or in amendment hereof, shall apply to such corporation and its members and such corporation shall be entitled to have and enjoy the powers, privileges and franchises conferred upon the company by this Act or any Act in addition hereto or in amendment hereof.

(6) The holders of said bonds or debentures whether they shall organize themselves into a corporation, as herein provided or not, or said trustee or trustees or any person or corporations claiming by, through or under them, shall in case they take possession of said property under the provisions of said mortgage or deed of trust, be entitled to hold, own and enjoy the same as fully and effectually as did the company theretofore and they shall be entitled to hold and enjoy all the powers, rights, privileges, franchises and exemptions in reference thereto which were held and enjoyed by the company, whether under letters patent, or lease from, or contract with the crown or under this Act or any Act in amendment hereof, or any special or general law in force in the province of Nova Scotia or otherwise.

(7) The company may, in and by said mortgage or deed of trust, provide for a periodical payment to said trustee or trustees of such sum as they may determine, which sum with all accumulations thereon shall constitute a sinking fund, to be applied in such manner as shall be stipulated in said mortgage or deed of trust.

23. This Act shall cease and determine if operations under it are not commenced within two years from the date of its passing.

CHAPTER 155.

An Act to incorporate the Stillman Mineral Springs
Company, Limited.

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

Robert H. MacKay, jeweller; John D. McKean and Incorporation. Charles R. McKean, tailors; all of Westville, in the county of Pictou and Province of Nova Scotia, and such other persons as now are or shall hereafter become shareholders in the corpcration hereby created, are hereby constituted a body corporate by the name of The Stillman Mineral Springs Company, Limited," hereinafter called "the company.

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2. The objects of the company shall be:-

(a) To manufacture, buy, sell, deal in, distribute, store,
warehouse, import and export aerated, carbonat-
ed and natural mineral waters of all kinds and
descriptions, and any of its branches, also ginger
ale and all kinds of other unintoxicating drinks,
the sale of which is not prohibited by "The
Liquor License Act."

(b) To carry on and deal in, manufacture in all its
branches, aerated, carbonated and natural min-
eral waters and other drinks, and to generally
carry on the business of coopers, bottlers, bottle-
makers, bottle-stop makers, potters, and to buy
and sell and otherwise dispose of the same.

(c) To purchase, lease, or otherwise acquire mineral
springs, land, and plant, buildings, works,

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factories, mills and other undertakings for the

Objects.

General powers.

Capital.

Limited liability.

purposes of the company or connected therewith, or necessary or expedient for any of the purposes of the company, or incidental thereto.

(d) To purchase, acquire, hold, use, sell, transfer and dispose of personal property of all kinds, machinery, patents and trade-marks in connection with the business of the company, and to lease, mortgage, purchase, acquire, transfer and dispose of or otherwise deal with all or any of the property, real or personal, powers, privileges and franchises of the company.

.

(e) For any of the above purposes, to purchase, acquire, hold, sell, lease or otherwise dispose of lands; and generally to do all matters and things necessary to the said several purposes and objects.

(f) To lease, purchase, construct, maintain, or otherwise acquire and operate hotels, sanataria, land, buildings, machinery, and other property, real and personal, as may be necessary for the several purposes of the company.

3. The company shall have power and authority to do any and all matters and things necessary to carry out any of the above objects or incidental or conducive to the same, subject, however, to the laws of the province.

4. The capital stock of the company shall be twenty-five thousand dollars, divided into twenty-five hundred shares of ten dollars each, with power to increase the same from time to time, to any amount not exceeding thirty-five thousand dollars, upon a vote of a majority of the shareholders represented in person or by proxy at a special meeting called for that purpose, or at any general meeting of the company.

5. No member or director of the company shall be liable 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.

meeting.

6. The annual general meeting of the shareholders, and Annual general all other meetings of the shareholders or directors, shall be held at such times and at such places, within or without the province, as are appointed by the by-laws of the company.

Seal of company

not necessary

7. It shall not be necessary to affix the seal of the company to any of its acts or contracts except its conveyances on contents. and mortgages of lands, bonds and stockholders' certificates.

Board of

8. The general administration of the affairs of the com- directors. pany shall be vested in a board of directors, who shall have the power to fill all vacancies. A majority of the directors shall constitute a quorum for the transaction of business, and the directors shall have power to appoint a manager and such officers and servants as they deem necessary in carrying on the business of the company.

directors.

9. The persons named in the first section of this Act. and Provisional such persons as they in writing may associate with them, are constituted provisional directors of company, a majority of whom shall form a quorum. The provisional directors shall hold office as such until the first annual meeting, which may be called at such time and place in the county of Pictou, and upon such reasonable notice as they determine, and until such meeting said provisional directors shall have power to open a stock subscription list and to assign and allot stock of said company, and have and exercise all the powers of ordinary directors of the company under the provisions of this Act. Until otherwise ordered by by-law or resolution of the provisional directors, any two of them may call meetings of the provisional directors at such times as they may determine; provided that notice in writing, of the date and place of holding any such meeting shall be mailed by registered letter to the address of the other provisional director not less than ten days previous to the date of such meeting. Vacancies caused by death or resignation shall be filled by the other directors until the next annual meeting.

10. The company shall have power to make by-laws not By-laws. inconsistent with this Act or the laws of the province, and also shall have the power to repeal and modify the same,

Votes of shareholders.

Qualifications of directors.

Paid up stock.

and the directors may from time to time as circumstances require, make, repeal, amend, or re-enact such by-laws; but such by-laws, and every repeal and amendment or re-enactment thereof, unless in the meantime confirmed by a general meeting of the company called for the 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, but all such by-laws and every repeal, amendment or re-enactment thereof, shall be subject to the approval of the Governor-in-Council.

11. At all general meetings of the company every shareholder shall be entitled to as many votes as he owns shares in the company, and may vote by proxy; provided always, that the said proxy shall be a shareholder in the company.

12. No member shall be eligible as a director unless he holds ten shares in the capital stock of the company hereby incorporated. All directors shall be elected to serve from the time of election until the next annual meeting, but in the event of death or removal of any director, the remaining directors may choose one from among the stockholders eligible for election to fill the place until the next annual meeting.

13. The company may issue as fully paid up capital stock of the company, and may, upon such terms as the directors deem for the interests of the company, pay and allot such shares in payment of lands, rights of way, plant, water powers aud privileges, and all kinds of real and personal property or materials of any kind; and also may, on such terms as the directors deem for the interests of the company, pay and allot such fully paid up shares in payment for services of or work done by contractors, engineers, solicitors and other persons who may have been or may be engaged in promoting the undertaking or work of the company; and may upon such terms as the directors deem for the interests of the company, allot and pay over such fully paid up shares in whole or in partial payments for the purchase, lease or other acquisition of any or all kinds of property, both real and personal, and water powers and privileges, lands. and any other real or personal property which the company is hereby authorized to acquire, construct, operate or own, or in payment of the shares or other obligations of other companies which the company is hereby authorized to acquire. The issue, allotment or payment of such fully paid up stock by directors of the company shall be binding upon the company and shall make

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