RAILWAYS.

13th VICTORIA-CHAPTER 21.

An Act to incorporate the Grand Falls Railway Company.

WHEREAS the construction of a Railway around the Great Falls of the River Saint John would be of great public utility, and it is deemed advisable to grant encouragement to such persons as may be desirous, at their own costs and charges, to make and maintain a Railway at the place aforesaid, by granting them an Act of Incorporation ;

Be it therefore enacted, &c.-1. James Jenkins, James Tibbits, Benjamin Beveridge, L. A. Wilmot, Charles Connell, Francis Tibbits, Henry N. West, James R. Tupper, George Connell, Charles A. Hammond, Thomas E. Perley, Michael Currin, Abijah Raymond, and William F. Dibblee, and such other persons as shall from time to time become proprietors of shares in the Company hereby established, their sussessors and assigns, shall be and they are hereby declared, ordained, and constituted to be a Corporation, body politic and corporate, by the name of "The Grand Falls Railway Company," and shall by that name have perpetual succession and a common seal; and shall and may by the said name sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended in all Courts and places whatsoever; and shall also have power and authority to purchase, hold, and enjoy lands, tenements, and hereditaments, for them and their

successors and assigns, for making the said Railway, and generally for the purpose of carrying the provisions of this Act into effect; and also that they the said Company shall from time to time and at all times have full power and authority to constitute, make, ordain, and establish such bye laws, regulations, and ordinances, as may be deemed necessary for the good rule and government of the said Company; provided that such bye laws, regulations, and ordinances as may be deemed necessary be not contradictory or repugnant to the laws of this Province; and provided also, that no bye laws, regulations, and ordinances made under and by virtue of the power and authority of this Act shall be of any force or effect until one calendar month after a true copy of such bye laws, regulations, and ordinances, certified under the hand of the President of the said Company, shall have been laid before the Lieutenant Governor or Administrator of the Government for the time being, for his approval or disapproval, unless the Lieutenant Governor or Administrator of the Government in this Province shall before such period signify his approbation thereof; provided always, that it shall be lawful for the Lieutenant Governor or Administrator of the Government for the time being, at any time either before or after any bye law, regulation, or ordinance shall have been laid before him as aforesaid shall have come into operation, to notify to the Company who shall have made the same, his disallowance thereof, and in case the same shall be in force at the time of such disallowance, the time at which the same shall cease to be in force; and no bye law, regulation, or ordinance which should be so disallowed shall have any force or effect whatsoever, or if it shall be in force at the time of such disallowance, it shall cease to have any force or effect at the time limited in the notice of such disallowance, saving in so far as any penalty may have been then already incurred under the same.

2. The capital stock of the Company hereby established shall be twenty thousand pounds, to be paid in current money of this Province, the whole amount of the said capital stock to be divided into one thousand shares of twenty pounds each, which shares shall be vested in the persons hereinbefore named, and such other persons as may take shares in the said Company, their successors or assigns; and upon taking such shares they

shall deposit in such Bank as the Directors of the said Company shall from time to time appoint for that purpose, the sum of two pounds ten shillings per share, current money aforesaid, and the remaining amount of such shares shall be called in as the work progresses, in such parts and amount per share as the Directors of the said Company may deem necessary; provided always, that two pounds ten shillings per share shall be the greatest amount per share of any one call which the said Directors may make on the shareholders, and two months at the least shall be the interval between successive calls, and thirty days previous notice of payment being required for any one call shall be given in the Royal Gazette at Fredericton ; and on demand of the holder of any share, the Company shall cause a certificate of the proprietorship of such share to be delivered to such shareholder, and the same may be according to the form in the Schedule A to this Act annexed, or to the like effect; and every of the said shares shall be deemed personal estate, and transferable as such, and shall not be deemed or taken to be of the nature of real property, and every such share shall entitle the holder thereof to a proportionate part of the profits and dividends of the said Company; provided also, that the money so to be raised as aforesaid shall be laid out in the making, completing, and maintaining the said Railway, and in payment of the legal and other expenses incurred in and about the incorporating and establishing the said Company, and to no other use or purpose whatsoever.

3. So soon as ten thousand pounds of the capital stock of the said Company shall have been subscribed, and the deposit of two pounds per share shall have been actually paid as aforesaid, and not before, it shall be lawful for the said Company, and they are hereby authorized and empowered by themselves, their deputies, agents, officers, and workmen, to make, construct, and finally complete, alter, and keep in repair a Railway, with one or more sets of rails or tracts, with all suitable bridges, archways, turn-onts, culverts, drains, and all other necessary appendages, and to erect such wharves, moles, jetties, piers, docks, harbours, landings, aboideaux, dikes, buildings, depots, and warehouses, either at the termini or on the line of the said Railway, and to purchase and acquire such stationary or locomotive steam engines and carriages, wagons, floats,

and other machinery and contrivances, and real or personal property, as may be necessary for the making and maintaining the said Railway, and for the transport of passengers, merchandize, timber, and other articles thereon, and may hold and possess the land over which the said Railway is to pass, and such adjoining lands as may be required; the said Railway to be made and constructed on such route as the Directors of the Company in the exercise of their best judgment and discretion shall deem most favourable and best calculated to promote the public convenience.

4. The certificate of the proprietorship of any share in the said Company shall be admitted in all Courts as prima facie evidence of the title of any shareholder, his executors, administrators, successors, or assigns, to the share therein specified; nevertheless the want of such certificate shall not prevent the holder of any share from disposing thereof.

5. No shareholder shall be entitled to transfer any share after any call shall have been made in respect thereof, until he or she shall have paid all calls for the time being due on every share held by him or her.

6. The said Company shall not be bound to see to the execution of any trust, whether express, implied, or constructive, to which any of the said shares may be subject; and the receipt of the party in whose name any such share shall stand in the books of the said Company, or if it stands in the name of more parties than one, the receipt of one of the parties named in the register of stockholders, shall from time to time be a sufficient discharge to the said Company for any dividend or other sum of money payable in respect of such share, notwithstanding any trust to which such share may then be subject, and whether or not the said Company have had notice of such trusts; and the said Company shall not be bound to see to the application of the money paid upon such receipt.

7. The several persons who have or shall hereafter subscribe any money towards the said undertaking, or their legal representatives respectively, shall pay the sums respectively so subscribed, or such portions thereof as shall from time to time be called for by the Directors of the said Company, at such times and places as shall be appointed by the said Directors; and with respect to the provisions in this Act contained for

enforcing the payment of calls, the word "shareholder" shall extend to and include the personal representatives of such shareholder.

8. It shall be lawful for the Directors of the said Company from time to time to make such calls of money upon the respective shareholders in respect of the amount of capital respectively subscribed or owing by them as they shall deem necessary, provided that thirty days notice at the least be given of each call as aforesaid, and no call exceed the prescribed amount as aforesaid, and successive calls be not made at less than the prescribed interval aforesaid; and every shareholder shall be liable to pay the amount of the call so made in respect of the shares held by him, to the persons and at the times and places from time to time appointed by the said Company or Directors thereof.

9. If before or on the day appointed for payment, any shareholder do not pay the amount of any call to which he is liable, then such shareholder shall be liable to pay interest for the same at the rate allowed by law, from the day appointed for the payment thereof to the time of the actual payment.

10. If at the time appointed by the said Company, or the Directors thereof, for the payment of any call, any shareholder fail to pay the amount of such call, it shall be lawful for the said Company to sue such shareholder for the amount thereof in any Court of law or equity having competent jurisdiction, and to recover the same with lawful interest from the day on which such call was payable.

11. In any action or suit to be brought by the said Company against any shareholder, to recover any money due for any call, it shall not be necessary to set forth the special matter, but it shall be sufficient for the said Company to declare that the defendant is the holder of one share or more in the said Company, (stating the number of shares) and is indebted to the said Company in the sum of money to which the calls in arrears shall amount, in respect of one call or more upon one share or more, stating the number and amount of each of such calls, where an action hath accrued to the said Company by virtue of this Act.

12. On the trial or hearing of such action or suit, it shall be sufficient to prove that the defendant, at the time of making