24. On the trial or hearing, it shall be sufficient to prove that the defendant, at the time of making such assessment, was a holder of one share or more in the said undertaking, and that such assessment was in fact made, and it shall not be necessary to prove any other matter whatsoever, and thereupon the Company shall be entitled to recover what shall be due upon such call, with interest and costs. 25. A plan and fully detailed description of the site and position of the road to be built under this Act, shall be filed in the offices of the Provincial Secretary and of the Common Clerk of the City of Saint John; and the site and position so selected shall be subject to the approval of the Lieutenant Governor in Council. 26. Unless at least ten per cent. of the capital stock of the said Company be paid in to the Treasurer of the said Company, and the work commenced according to the plan as herein specified to be filed, and as sanctioned by the Governor and Council, within three years, and fully completed within five years from the passing of this Act, then this Act shall be null and void. MINING COMPANIES. 10th VICTORIA-CHAPTER 73. An Act to incorporate the York and Carleton Mining Section. 1. Incorporation of Company. 2. First meeting, where held. 3. Capital, &c. 4. Debts, for what liable. Company. Section. 5. Shareholders liable, to whom. 7. Shares may be assessed, &c. Passed 14th April 1847. WHEREAS the efficient opening and working of Mines in the Counties of York and Carleton will be highly advantageous to the Province: And whereas the amount of capital necessary to be invested in such an undertaking renders it essential that the Company engaged therein should be incorporated ;— Be it therefore enacted, &c.-1. Lemuel Allan Wilmot, James Tibbits, Robert D. Wilmot, William Stevens, and Charles Fisher, their associates, successors, and assigns, shall be and they are hereby erected into a Company, and declared to be a body politic and corporate, by the name of "The York and Carleton Mining Company," and by that name shall have all the general powers and privileges made incident to a Corporation by Act of Assembly of this Province, for the purpose of opening and working of Mines in the Counties of York and Carleton, and establishing all necessary works therewith connected, and for the convenient carrying on and managing the same. 2. The first meeting of the said Corporation shall be held at Fredericton, in the County of York, and shall be called by any one member of the said Company, by giving at least twenty days notice in the Royal Gazette published in this Province previous to such meeting. 3. The capital stock of the said Corporation shall consist of the sum of thirty thousand pounds, to be paid in such money as shall at the time of the several payments hereinafter expressed be a legal tender in this Province, fifteen per centum of the said capital stock to be paid in before the said Corporation shall be entitled to purchase any property, real or personal, or incur any debts, and the remainder of the said stock to be paid at such time and times, and in such parts or portions as the business of the Company shall from time to time require, the whole amount of such capital stock to be divided into twelve hundred shares of twenty five pounds each. 4. The joint stock and property of the Company shall alone in the first instance be responsible for the debts and engagements of the said Company; and no creditors, or person or persons having any demand against the said Company, for or on account of any dealings with the said Company, 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 Company 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 Company, 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 the said Company. 5. Each and every shareholder in the said Corporation shall be held liable to the said Company for each and every call or assessment made, (not however to exceed in amount the stock so subscribed for) for the purpose of enabling the said Company to pay the debts and engagements of the said Corporation, or to carry on the operations for which the said Company is incorporated, and shall and may be sued for by the said Corporation, and recovered in any Court of Record within the Province. 6. So soon as the said capital stock shall have been paid in and expended for the purposes of this Corporation, it shall and may be lawful for the said stockholders, at any general meeting to be for that purpose called, to increase the said capital stock from time to time, in such sums as they may deem expedient, to a sum not exceeding one hundred thousand pounds, and they shall have power from time to time to increase the number of shares accordingly, or from time to time to assess such increase upon the original number of shares, or to increase the capital by both assessments upon and increase of shares. 7. The said Company shall have power to levy and collect assessments 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 stockholders of the Company, it shall be the duty of the Treasurer to give notice thereof in a Newspaper printed and published in this Province, and also in the Royal Gazette, 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 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 such 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. 8. Unless fifteen per centum of the said capital stock shall be actually paid in for the purposes of the said Corporation, and a certificate of such payment made and verified on oath by the Directors of the said Corporation, or a majority of them, (which oath any Justice of the Peace is hereby authorized to administer) shall be filed in the Office of the Secretary of the Province before the expiration of three years after the passing of this Act, the operation of this Act shall cease, and the existence of the said Corporation be terminated at the expiration of the said three years. 12th VICTORIA-CHAPTER 57. An Act to facilitate the operations of the York and Carleton Mining Company. Section. 1. What lease may be cancelled, &c. 2. What duty reserved. Section. 3. Sum granted for what. Passed 14th April 1849. WHEREAS the York and Carleton Mining Company have invested a large sum of money in commencing and carrying on their operations in the manufacture of Iron in the County of Carleton, and have, by Petition to the Legislature, prayed that their present Lease for twenty five years may be extended to the term of ninety nine years, and that the present reservation of five per centum on the value of the Ore raised may be commuted into a fixed duty of one penny per ton on the Iron smelted, and that such other encouragement may be extended as may be deemed just: And whereas it is considered advisable to afford every encouragement to the said Company in the prosecution of their important enterprise ; Be it therefore enacted, &c.—1. From and after the passing of this Act, it shall and may be lawful for His Excellency the Lieutenant Governor or Administrator of the Government for the time being, by and with the advice and consent of the Executive Council, to revoke, cancel, and annul the present lease, and to issue a new lease in lieu thereof, for the term of ninety nine years, to commence at and from the date of the former lease. 2. It shall and may be lawful for His Excellency the Lieutenant Governor or Administrator of the Government for the time being, by and with the advice and consent aforesaid, to reserve in the said lease a duty of one penny per ton on the iron smelted by the said Company, in lieu of the duty of five per centum now reserved in the present lease. 3. And for the further encouragement of the said Company, there be granted to His Excellency the Lieutenant Governor or Administrator of the Government for the time being, the sum of one thousand five hundred pounds, to be applied towards the purchase of ten thousand acres of wilderness lands by the said Company, situated on the northeastern side of the River Saint John, in the said County of Carleton, to be selected by and surveyed at the expense of the said Company; and the said money shall be applied as aforesaid, whenever it shall be made to appear to His Excellency the Lieutenant Governor or Administrator of the Government for the time being, that the said Company have smelted at least three hundred tons of Pig Iron at their Works in the said County of Carleton. 4. This Act shall not come into operation or be in force until the first day of September next. 59 |