on the same, and the expense of advertising and selling the same, the residue (if any) shall be paid over to the former owner, and a new certificate or certificates of the shares so sold be made out and delivered to the purchaser or purchasers; provided always, that such assessment or assessments shall not in the whole exceed the amount of the capital stock appointed by this Act, or the capital stock to be increased as is hereinbefore directed; and also provided, that no assessment shall be made except by a vote of the stockholders, and a majority of all the shares.

15. A special meeting of the said Company may be called by the Secretary or Agent, under the authority of the Directors, or of the stockholders representing not less than fifteen shares, thirty days notice at least of the time and place of such meeting being given in some Newspaper published in the said County of Charlotte, or by personal notice, or by notice by mail as aforesaid.

16. Provided always, that unless twenty five per centum of the said capital stock shall be paid in for the purpose of this Corporation, and a certificate of such payment, signed and verified on oath by the said Directors, or a majority of them, before any Justice of the Peace, shall be filed in the Office of the Secretary of the Province before the expiration of three years next after the passing of this Act, the operation of this Act shall cease, and the existence of this Corporation terminated at the end of the said three years.

17. This Act shall continue and be in force until the first day of December which will be in the year of our Lord one thousand eight hundred and sixty six.

GAS COMPANIES.

8th VICTORIA-CHAPTER 89.

An Act to incorporate the Saint John Gas Light Com

12. Meetings, how called.

13. Pipes, where may be laid down.

3. First meeting for choosing Directors, &c. 14. City Corporation, how may interfere with

4. Annual meeting for same.

5. Qualification of Directors.

6. Stockholders' votes.

7. Shares assignable.

8. Vacancies, how supplied.

9. Debts, who liable for.

10. Shares to be taken at first, how limited. 11. Shares, how assessed, &c.

Street works.

15. Leaders for public lamps, who to provide.

16. Refuse of coal tar, where not allowed to

be drained.

17. What certificate filed, and where.

18. Company controlled, when, by City Cors poration.

Passed 14th April 1845.

WHEREAS the establishment of a Company for the purpose of erecting Gas Works in the City of Saint John, in order to furnish the means of lighting the said City and its vicinity in a superior manner, would be an object of public utility ;

Be it therefore enacted, &c.-1. James Kirk, Frederick A. Wiggins, John Duncan, Alfred Smithers, William Parks, Duncan Robertson, William Henry Scovil, Robert L. Hazen, Thomas Daniel, Lemuel A. Wilmot, James Taylor, Charles Fisher, John A. Street, George S. Hill, and James Boyd, their associates, successors, and assigns, shall be and they hereby are erected into a body politic and corporate, by the name of "The Saint John Gas Light Company," and shall have all the general powers and privileges made incident to a Corporation by Act of Assembly in this Province, for the purpose of lighting the City of Saint John and its vicinity with Gas, and for all necessary works therewith connected.

2. The capital stock of the said Corporation shall be twenty thousand pounds of current money of New Brunswick, and shall be divided into two thousand shares of ten pounds each, to be paid in at such times and in such instalments as the business of the said Company shall require, provided that fifteen per centum of the said capital stock, amounting to three thousand pounds, shall be actually paid in and invested in the business of the said Corporation in one year from the passing of this Act; and provided also, that the said Corporation shall, when necessary, have leave to extend the said capital stock to

the sum of thirty thousand pounds of like current money, and shall have power to increase the number of shares accordingly, or to assess such increase upon the original number of shares; and provided also, that the said Corporation shall not be entitled to purchase any property, real or personal, or to incur any debts until the said fifteen per centum of the capital stock as aforesaid shall be paid in.

3. The first meeting of the said Corporation shall be held at the City of Saint John, and shall be called by James Kirk, Esquire, or in case of his death, neglect, or refusal, by any two of the said Company, by giving notice in one or more of the public Newspapers printed in the said City, at least twenty days previous to such meeting, for the purpose of establishing bye laws, choosing nine Directors, and such other officers as may be necessary for the management of the affairs of the said Company; which Directors and officers so chosen, shall serve until the first annual meeting, or until others are chosen. in their stead, and shall have full power and authority to manage the concerns of the said Corporation, subject to the rules and regulations hereinafter made and provided.

4. A general meeting of the stockholders of the said Corporation shall be held at the City of Saint John on the [the words here omitted are repealed by 16 V. c. 55, s. 2] in each and every year, for the purpose of choosing nine Directors, and such other officers as may be necessary for the management of the affairs of the said Corporation; which Directors so chosen, shall remain in office for one year, or until others are chosen in their stead, and shall at the first meeting after their election choose one of their number President of the said Company; provided always, that not less than five Directors do form a quorum for the transaction of business, and in case of the absence of the President, the Directors shall have power to appoint one of their number Chairman for the occasion.

5. No person shall be eligible as a Director unless such person is a stockholder and holds not less than twenty shares of the capital stock of the said Corporation, and is of the full age of twenty one years.

6. The number of votes to which each stockholder shall be entitled on every occasion when in conformity to the provisions of this Act. the votes of the stockholders are to be given,

shall be for one share and not more than two, one vote; for every two shares above two and not exceeding ten, one vote, making five votes for ten shares; for every four shares above ten and not exceeding thirty, one vote, making ten votes for thirty shares; for every eight shares above thirty and not exceeding seventy, one vote, making fifteen votes for seventy shares; for every twelve shares above seventy and not exceeding one hundred and thirty, one vote, making twenty votes for one hundred and thirty shares; which said number of twenty votes shall be the greatest any stockholder shall be entitled to have; and all stockholders may vote by proxy, such proxy being a stockholder, and producing sufficient authority in writing from his constituent.

7. The shares in the said Corporation shall be assignable and transferable according to such rules and regulations as may be established in that behalf, but no assignment or transfer shall be valid and effectual unless the same shall be entered and registered in a book to be kept by the Directors for that purpose; in no case shall any fractional part of a share, or other than a complete share or shares, be assignable or transferable; whenever any stockholder shall transfer in manner aforesaid all his stock and shares in the said Company, he shall cease to be a member of the said Corporation.

8. In case of any vacancy among the Directors by death, resignation, or disqualification by sale or transfer of stock, then and in either of such cases, the said Directors shall and may fill up such vacancy by choosing one of the stockholders, and the person so chosen by the Directors shall serve until another is chosen in his room.

9. The joint stock or property of the said Corporation shall alone in the first instance be responsible for the debts and engagements of the said Corporation, and no creditor, or person or persons having any demands against the said Corporation, for or on account of any dealings with the said Corporation, shall have recourse against the separate property of any shareholder on account thereof, except in case of deficiency, or where the joint stock of the said Corporation shall fall short of or not be equal to the payment of any debt, due, or demand against the same, then and in such case the goods and chattels, lands and tenements of each shareholder shall and may be

levied upon and seized respectively, to satisfy such debt or demand, to the extent of double the amount of the share, or shares, or interest of such shareholder in the joint stock of the said Corporation, but no more, and such double amount, or so much as may be necessary to satisfy such debt, due, or demand, shall and may be levied and seized by process of execution in the same suit in which such debt, due, or demand may be recovered against said Corporation.

10. The stock subscription list shall be left at some public place in the City of Saint John, notice of which shall be given in two or more of the public Newspapers published in the said City; and no individual, either by himself or his agent, shall be allowed to subscribe for more than fifty shares until after the expiration of two months from the date of such notice, at the expiration of which time, should the stock in said Corporation be not all taken up, then any person may be allowed to take any number of shares he may see fit until the said stock is all taken up.

11. The said Company shall have power to levy and collect assessment upon the shares from time to time, of such sums of money as may be deemed necessary for carrying on the business of the said Company; and whenever any assessment shall be made by the said Company, it shall be the duty of the Treasurer to give notice thereof in two or more Newspapers printed in the City of Saint John, requiring payment of the same within thirty days; and if any stockholder shall neglect or refuse to pay to the Treasurer the amount of such assessment upon his shares at the time prescribed, it shall be the duty of the Treasurer to advertise all such delinquent's shares for sale at public auction, giving at least thirty days notice of the time and place of such sale; and all shares upon which the assessment is not then paid, with interest from the time such assessment became due, shall be sold to the highest bidder, and after retaining the amount of assessment and interest due on each share, and the expense of advertising and selling, the residue (if any) shall be paid over to the former owner, and a new certificate or certificates of the shares so sold shall be made out and delivered to the purchaser; provided always, that no assessment shall be made except by a vote of the stockholders and a majority of all the shares.