Capital stock, how applied.

Traffic arrangements.

Construction over roads,

railroads, &c.

Painting or affixing clause.

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.

35. The capital stock of the company shall be applied. in the first place to the payment of all expenses and disbursements necessarily or reasonably incurred, whether before or after the passing of this Act, in connection with the organization of the company, and the making of the survey, plans and estimates connected with the works and operations hereby authorized; and all the remainder of said money shall be applied to the making, completing, equipping and maintaining of said railway and branches, and other purposes of this Act, and to no other purposes whatsoever.

36. The company shall be bound to grant such traffic arrangements to all governments and companies whose railways connect with the railway lines of the company as will offer reasonable facilities for traffic, subject to such conditions as the Governor-in-Council may determine.

37.

The company may make or construct roads railroads or tramways over, under and across any road, railroad or tramroad, harbor, cove. river, brook or stream, subject nevertheless in such cases to regulations to be made by the Governor-in-Council to insure the safety of the inhabitants in their property, providing, however, that nothing herein contained shall be construed to authorize or empower the company to interrupt, hinder or prevent the navigation of any navigable river or other navigable water.

38. The company shall paint or affix, and shall 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 purport

ing 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 transation 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.

Statutes, 1900,

39. When not inconsistent with the provisions of this Chapter 99, Rev. Act, chapter 99 of the Revised Statutes of Nova Scotia, when to apply. 1900, shall apply to the company's undertakings and be considered to be incorporated herewith.

to go into

40. The company shall not go into operation until one Company, when hundred thousand dollars of the capital stock has been paid operation. up and deposited to the credit of the company in some chartered bank in Nova Scotia, and the construction of the railway shall not be commenced or proceeded with until all the requirements of this section have been complied with.

cease and

41. This Act shall cease and determine if effective work Act, when to to the satisfaction of the Governor-in-Council shall not be determine. commenced within nine months from the passing thereof, and if the line from New Glasgow to the deep waters of Country Harbor and to a point at or near the town of Guysborough be not completed within three years from the date of the passing thereof, or such progress made as may be satisfactory to the Governor-in-Council; and if the line from a point at or near the town of Guysborough to the Strait of Canso be not commenced within three years and completed within four years from said date, or such progress made therewith as may be satisfactory to the Governor-inCouncil.

of construction

Musquodoboit

42. In the event of a railroad being hereafter con- Provision in case structed from some point on the Intercolonial Railway and from Intercolo running easterwardly through the Musquodoboit Valley to a nial through point in the St. Mary's Valley, where such last mentioned Valley. railway will intersect the railway to be built under this Act, the Governor-in-Council may upon such terms as to rentals and charges as they deem just and proper, award and grant to such company so building from the said Intercolonial Railway eastwardly, running powers on the whole or any portion of the railway to be built under this Act situate between the said point of intersection and the Strait of Canso.

Preamble.

of 1898, revived.

CHAPTER 131.

An Act to revive Chapter 126 of the Acts of 1898, entitled, An Act to Incorporate the Musquodoboit

SECTION.

Preamble.

Railway Company, Limited.

(Passed the 4th day of April, A. D., 1901).

1. Chapter 126, Acts of 1898, revived.

Whereas, chapter 126 of the Acts of 1898 has become null and void by reason of non-compliance and fulfilment of the provisions of section forty-one thereof;

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

1. The said chapter 126 of the said Acts of 1898, entitled," An Act to incorporate the Musquodoboit Railway Chapter 126,Acts Company, limited," is hereby revived, with all the rights, franchises and liabilities therein contained, as fully as if the same had been passed during the present session of this legislature.

2. The said Act shall become null and void if the construction of the railway therein contemplated be not comAct, when to be menced and active continuous operation in the construction of the same be not carried out within two years after the passing of this Act.

come null and

void.

ed.

3. Section 2 of the said Act is amended by adding after the word "aforesaid" in the tenth line thereof the words Section 2 of said" thence in either case into and through the county of chapter amend Guysborough by way of the St. Mary's Valley to a point in the said St. Mary's Valley, where the railway to be constructed by the Nova Scotia Eastern Railway Company, limited, will intersect the railway to be constructed under this Act, together with the power and authority to lay out, construct, own, equip and operate a branch line from the said main line of railway to Sheet Harbor, in the county of Halifax."

CHAPTER 132.

An Act to incorporate the Dominion Lumber Company,
Limited.

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

1. Henry Patton, of Albany, in the State of New York, Incorporation. lumber merchant; Walter D. Beardmore, of the city of Toronto, manufacturer; Herbert R. Wells, of Canton, in the State of New York, lumber merchant; and Hector McInnes, of Halifax, in the county of Halifax, barrister-atlaw, and such other persons as may become shareholders in the company hereby created, are constituted a body corporate by the name of the Dominion Lumber Company, limited, and are hereinafter referred to as the "company

2. The objects of the company shall be, and the com- Objects of company is empowered and authorized as follows:

(a) To purchase, own, hold, mortgage, lease, and sell timber and other lands and real estate in the province of Nova Scotia for the purpose of their business.

(b) To purchase, erect, own and operate mills for the manufacture of lumber, paper, pulp wood, and wooden materials in all its branches, and trade and deal in the

same.

(c) To erect, own and operate tanneries, and by every or any process to manufacture leather, and for such purpose to erect, acquire and maintain all suitable buildings and machinery.

pany.

(d) To carry on a general manufacturing and lumber business.

(e) To carry on business as general merchants and traders.

(f) To construct, purchase, alter or maintain, or to contribute to the purchase, construction, alteration and maintenance of any building, railway, tramway, wire rope tramway, canal, wharf, bridge, pier, road or other work calcuculated to afford any facility in carrying on the business of the company, and to operate such railway, tramway, wire rope tramway and other works by water, steam, electricity, or other motive power.

(g) To purchase, hire, construct or manufacture for use in connection with any business of the company any ships, barges, rolling stock, machinery or plant, and to transport on land and on water freight and passengers.

(h) To acquire any exclusive right in letters patent, franchises or patent rights or privileges or lands, in connection with the business of the company.

(i) To farm any land held by the company, and for that purpose to buy, sell, and deal in any farming stock or produce.

(j) To construct and maintain telegraphs and telephones, and to carry on the business of a telegraph and telephone company on the line of their works and railway in the province of Nova Scotia.

(k) To acquire the good will of any business within the objects of the company, and any lands privileges, rights and contracts appertaining to the same, and in connection with any such purchase to undertake the liabilities of the company, association or person.

(1) To sell or otherwise dispose of the whole or any branch or part of the business or property of the company.

(m) To acquire by original subscription or otherwise, and to hold, sell, mortgage or otherwise dispose of, shares, whether common or preferred, debentures, debenture bonds, stocks and other obligations of any company carrying on or formed for carrying on any trade or business within the objects of the company.