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Business outside the Province.

Reserve fund.

Further powers.

Painting" and 'affixing.'

Head office.

When Act shall cease.

ances of lands, bonds, debentures and stockholders' certifi

cates.

23. The company is authorized to transact any business out of the province necessary or incidental to any purpose within the province for which the company is incorporated.

24. The directors before recommending any dividend may set aside out of the profits of the company any sum as they may think proper, as a reserve fund to meet contingencies or for equalizing dividends and the directors may invest the sum so set apart as a reserve fund upon such securities as they may select.

25. It shall be lawful for the company to construct roads and to make and operate railways or tramways, over, along or under, or across any brooks, rivers or streams not being navigable waters and highways, subject nevertheless, to regulations to be made by the municipal council of the district or districts for the safety of the inhabitants and their property, and subject to the provisions of chapter 9 of the Revised Statutes of Nova Scotia, 1900.

26. The company shall paint or affix, and keep painted or affixed, its name, with the word "limited" after it, 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 said word "limited" after it, mentioned in legible characters in all notices, advertisements and other official publications of the company, and the other writings used in the transaction of the business of the company, and for every neglect of a full compliance with the foregoing provisions of this section by an officer of the company, the company shall be liable to a penalty not exceeding twenty dollars.

27. The head office of the company shall be at Amherst in the county of Cumberland, or such other place in Nova Scotia as the directors may by by-law determine.

28. If the company does not bona fide commence business under the provisions hereof within two years from and after the passing of this Act, then this Act shall become and be utterly null and void and of no effect.

CHAPTER 161.

An Act to amend Chapter 155, Acts of 1900, entitled, “An
Act to incorporate the Chapman Double Ball Bearing

SECTION.

1. Capital reduced.

Company of Canada, Limited."

(Passed the 7th day of April, A. D., 1905.)

2. Meetings of company.

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

1. The capital stock of the Chapman Double Ball Bear-Capital reduced. ing Company of Canada, Limited, is reduced from one million five hundred thousand (1,500,000) dollars, divided into fifteen thousand (15,000) shares of one hundred (100) dollars each, to eight hundred thousand (800,000) dollars divided into eight thousand (8,000) shares of one hundred (100) dollars each, by the return to the company h the holders thereof, of seven thousand (7,000) shares. hundred (100) dollars each, and the cancellation of the same by the company.

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2. Meetings of the company may be held at such times Meetings of and such places either within or without the province of company. Nova Scotia as are prescribed by the by-laws of the com

pany.

3. The head office of the company may be in such place Head office. either within or without the province of Nova Scotia, as may be prescribed by the by-laws of the company.

4. All Acts and parts of Acts inconsistent with this Act Act repealed. are hereby repealed.

Section I

amended.

CHAPTER 162.

An Act to amend Chapter 168 of the Acts of 1903-4, entitled, "An Act to amend Chapter 148, Acts of 1902, entitled, An Act to incorporate the A. C. Thompson Company, Limited.'"

(Passed the 7th day of April, A. D., 1965.)

SECTION I. Section 1 amended.

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

1. Section 1 of chapter 168 of the Acts of 1903-4 entitled, An Act to amend chapter 148, Acts of 1902, An Act to incorporate the A. C. Thompson Company, Limited, is amended by striking out the words "two hundred and fifty" in line ten thereof, and substituting therefor the words "three hundred."

Incorporation.

Objects.

CHAPTER 163.

An Act to incorporate the Mechanics' Store Company,
Limited, Glace Bay.

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

1. John F. McPherson, Frank McNeil, Angus Campbell, John A. McNeil, Daniel Gillis, Archy Campbell and Joseph A. Dillon, and such other persons as shall hereafter become shareholders in the said company shall be a body corporate, under the name of "The Mechanics' Store Company, Limited," hereinafter called "the company."

2. The object of the said company is to improve the material or pecuniary means of its members, purchasing

merchandise at wholesale prices, retailing the same at ordinary rates to members and general public, dividing the profits semi-annually in proportion to the amount of each member's purchase and capital; to provide a safe and profitable investment for the savings of the working man, and also to promote the moral advancement of its members by encouraging the habits of thrift and economy.

3. The capital stock of the said company shall be Capital. twenty thousand dollars, to be divided into shares of five dollars each.

4. The liability of each shareholder of the company Limited liability. hereby incorporated for the debts of the corporation, shall

be limited to the amount of stock held by him, less the

amount paid upon

the same.

5. The company by its directors, may purchase, take, Power to hold hold and enjoy real estate not exceeding the value of five property. thousand dollars, and may sell, mortgage, lease, convey or otherwise dispose of the same as may be deemed expedient for the objects of the company.

6. The company shall have power to sue, and shall be Corporate name liable to be sued, under the said corporate name, and shall have a common seal.

7. The business, property, and general management of Officers. the company's affairs, shall be under the control of a president, secretary, treasurer and five directors, who shall be chosen by the shareholders at each semi-annual meeting of the shareholders At all meetings of the directors for the transaction of business, four shall constitute a quorum.

8. No member shall be eligible for election as an officer Qualification.. or director unless he holds four shares paid up in the capital stock of the company hereby incorporated. All officers and directors shall be elected to serve from the time of election until the next semi-annual meeting. At each semi-annual meeting one-half the directors shall retire in order of priority of election or by ballot. The officers and retiring directors shall be immediately eligible for re-election. In the event of the death or removal by other cause of any director of the company, the remaining directors may choose one from among the shareholders eligible for election to fill his place until the next semi-annual meeting.

Subscription of shares.

Provisional officers.

First meeting.

“Painting" and "affixing."

9. The directors, or a majority of them, may open a a subscription of persons desirous of becoming shareholders in the said company, and may allot to such persons the number of shares that each or any of them shall have in the company.

10. For the purpose of organizing the said company, the following persons shall be the provisional officers and directors thereof, viz:-John F. McPherson, Frank McNeil, Angus Campbell, John A. McNeil, Daniel Gillis, Archy Campbell, and Joseph A. Dillon, and the said provisional directors shall have all the powers by sections 6, 8, 9 and 10 of this Act conferred upon directors, until a choice of directors shall have taken place in the manner prescribed by this Act.

11. The first meeting of the company shall be held in Glace Bay, aforesaid, at such time and place as the said provisional directors may determine, of which meeting twenty days' notice shall be given to the shareholders. At such meeting, or any subsequent meeting called for that purpose in like manner, the company may elect its officers and directors, and establish by-laws necessary for its government and the carrying out of the objects of this Act.

12. The company shall paint or affix and 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 on all bills of exchange, promissory notes, cheques, orders for money, or goods purporting to be drawn, made, signed, given or indorsed 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.

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