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Loraqua la document eat trop grand pour Atre reproduit en un seul clichA, il eat fiimA A partir da I'angia aupiriaur gauche, de gauche i droite, et de haut en bee. en prenant la nombra d'imagea nteeasaira. Lea diagrammea suivanta iliuatrant la m^thoda. 1 2 3 1 2 3 4 5 6 f ^'' \:-:^ h#» ♦ ■• D regulatiOnis « .FOB THE GOVERNMENT OP Vj' THE CORPORATION OP THE ^->i *-.: cy. »« ►« INCORPORATED BY^E STATUTE 4 & Sttf VICTOR! JjpHAP. 57. 'XiiS • • QUeKeC: PRINTED BY FRECHET ^Y^^^ ^^* 1843. 75: 5 REGULATIONS FOR THD GOVERNMENT or THE CORPORATION OF THE X^ ^ it FIRE ASSURANCE INCORPORATED BY THE STATUTE 4 & 5th VICTORIA, CHAP. 57. QUEBEC : PRINTED BY FRECHETTE & CO. 1841. LOUIS MASSUE, ESQ., p^3,„,„^, EDWARD BURROUGHS, ESQ,...V.c, .p,,3,,,,,. LOUIS MASSUE, \ EDWARD BURROUGHS, CHARLES MAXIME'DEFOY, CHARLES TURGEON, ' ) d,,,„,,.. VITAL TETU, GEORGE OKILL STUART & FRANCOIS XAVIER PARADIS, ESQUIRES. LOUIS MASSUE, ESQ., -..,«,,. DANIEL McCALLUM, ESQ, Skck.tar.. MR. HONORE TANGUA Y, Qlkrk V / ORDINANCE AND BY-LAW OF THE CORPORATION OF THE CAXTADA Fins iLSSTIlAXTOS: COMPANY. PASSED AT A GENEKAL MEETING OF STOCKHOLDERS DULY CONVENED AND HELD AT THE CITY OF QUEBEC, ON THE 2nd DECEMBER 1841. BE IT ORDAINED AND ES- TABLISHED and it is hereby ordained and established, that the Regulations for the government of this Corporation, shall be, and they are hereby declared to be, the following, that is to say : I. No person or persons, Body Politic or Cor- porate, shall at any time hereafter be permitted Not more than 100 Shares to to hold, possess or enjoy more than one hun- be held by the same person. dred Shares in the Capital Joint Stock of the said Company, whether the same may or shall be acquired, by subscription, purchase, dona- tion, or otherwise, excepting* only in case of Leg-acy or of inheritance by Heirs at Law of deceased Stockholders. II. The sum of ten per cent, having- now been How instal- ments are to be paid in (in cash) on the Capital Stock of this called in. » \ / r Company, the residue shall be paid, in such manner as the Directors may deem expedient. All instalments shall, however, be demanded, equally, from every Stockholder, for the time being, in due proportion to the number of shares held, and no instalment to exceed one pound five shillings per share, nor shall the same be demanded until at least thirty days previous and public notice shall have been given in both languages, in at least two of the newspapers printed and published at Quebec. miMory'"note3 "^"^ "whcreas by the articles of association es- 12 sXS tablishing the Canada Fire Assurance Com- flssociauon. ** pany, previous to the obtaining the Charter thereof, it was provided that a sum of five pounds for each and every share should be due and payable within ten days after the subscrib- ing to the said articles, to be paid by the sub- scribers to the said articles unto the Directors of the said Company, for the lime being, or their assigns, in good and approved promissory note or notes of hand, payable on demand, to the approbation and satisfaction of the Direc- tors, or quorum thereof, for the time being. And whereas divers promissory notes have been deposited in the manner aforesaid with the said Directors which, since the incorporation of the said Company, it is unnecessary to re- tain ; it is hereby provided that the said pro- missory notes shall be delivered up by the Directors for the time being to the maker or makers thereof, on demand, for the purpose of being cancelled. And it is hereby further provided that the amount of thirty per cent mentioned in the certificates of proprietorship as having been paid in and at the disposal of the Directors, shall be, in consequence, and the same is hereby re- }„ reSed "by - , ., the amount of duced to the amount of two pounds ten shil- .otcs. lings on each share, making the ten per cent paid up in cash as aforesaid. 6 III. Transfers of Stock shall be made in person -."rS'.'; "'•'>>' P'-o^'y. in w.iiinj, agreeably lo such ""'^- form as ,ho DireCors shall direC. in a book kept for that purpose, to be termed "Tians- fers of Stock ;•• but no transfer shall be valid, miles, the same be allowed and approved of by the Directors, or by such person lo whom lliey may delegate snob authority, by a Re- solve of the Board, nor tmtil the claims of the Company ag-ainst such Stockholders be firet satisfied. No fractional part of a .hare to be allowed. IV. Stockholders shall be entitled to vole at all General Meeting^s, and fur the election of ^^^Number of ^^'''^^tor^' according" to (he number of Shares IXkhS ^^^'^' ^^^'^ : For one share and not more than *t General «,fr« "'"»i M..,i„j.. l^^ 0, one vole, for every two shai-es above t wo and not exceeding ten, one vote, makinc five votes for ten shares ; for every four shares above ten and not exceeding thirty, one vote, •viaking ten votes for thirty shares ; for every SIX shares above thirty and not exceeding sixty. one vote, making sixteen votes for sixty shares, und for every eight shares above sixty, and not exceeding one hundred, one vote, making tv/enty votes for one hundred shores. Stock- holders may vote by proxy, appointed by writing, save and except those residing within the City of Quebec, unless prevented by illness or absence, sucli proxy being a Stockholder ; but no Stockholder shall, in his own right and that of proxy, be entitled to more than fifty votes ; neither shall any officer or servant of the Company vote as proxy, either directly or indirectly, on pain of dismissal from office. V. The business and affairs of the Company shall be under the direction, superintendence. Board of Di- rection 8l their and manafrement of seven Directors chosen qualification " cstabushed. from Stockholders possessing at least twenty shares in the Capital Joint Stock of the Com- pany, being subjects of Her Majesty, residing within the County of Quebec, (and possessed of real property within the Province of Canada), And it is hereby further provided and agreed upon that Louis Massuk, Edward Bur- 8 ROUGHS, Charles Maxime De Foy, Char- les TuRGEON, Vital Tetu, George Okill Stuart and FRAN901S Xavier Paradis, Esquires, are, and they are hereby declared to be the first Board of Directors of the Company, and who shall act in that capacity until the first Monday in the month of May 1842, when and on which day, — two weeks previous notice •ving" been given in both languages, in one . more of the newspapers published in Quebec,— a new election will take place to be renewed, annually, on the said first Monday in To be elected ^^^3^' ^^^^ election to be conducted by the iXt"^on^he Stockholders, voting by Ballot which shall be May. " * '" deposited in the Ballot Box in the Company's Office, till two o'clock in the afternoon of the day of the election, when it shall be opened in the presence of at least three Directors and other Stockholders, and the Ballots therein contained shall be ascertained and verified, and the seven persons duly qualified that shall be the^"BoSd in found to havc the greatest number of votes umf of eiec- shall bt declared duly elected. Provided, how- tion must be ,/./.. rw- re-elected. ever, that four of the seven Directors retiring annually shall be re-elected, and that nothing 9 shall prevent the other three, from being re- elected if duly qualified. And it is hereby further provided that in the event of any va- vacancies cancy in the legal number of Directors for the J™J"fg ^^ * , ^ supplied. time being, by death, absence from the Coun- try (without the consent of the Directors for more than three months at a time), inability, disqualification or otherwise, the same shall within three weeks from the period when the said vacancy shall be reported to the Board of Directors, or as soon thereafter as possible, be filled up by the person, duly qualified as such, having the greatest number of votes on the Ballot of the last general election, and the new Director orDirectors so elected shall only serve for the unexpired period of his predecessor. Any vacancy previous to the month of May 1842, to be filled up by the Directors. And it is hereby further provided, that no Director or Directors shall be entitled to demand or receive for his services in the said Company as such, Nope«onto 1 be paid ibr his anv salarv or emolument whatever, save ana services as a V •' Director ex- except the President or Treasurer, who may -Pjthe^Presi;; be allowed such reasonable compensation as rer. the Directors may see fit. 'I I 10 VI. Directors to elect a Presi- dent a Vice- President and a Treasurer an- nually. Three Direc tors a quorum Who to pre- »ide at their meetings. Questions before them how decided. Meeting of Directors how called. The Directors shall name from their body President, a Vice-President, and a Treasurer! ■ annually, at their first meeting- after the annual election, and shall not proceed to do any bu- siness with a less number than three, which shall form a legal quorum for the dispatch of business. The President, or in his absence, the Vice-President, and in the absence of both, a chairman chosen pro-tempore, shall preside at the meetings of the Board of Directors. Every question, motion, measure or any thing proposed or submitted in any meeting of Direct tors shall be decided by the majority of votes, (excepting as hereinafter it is provided) no Director to have more than one vote, the chair- man voting only in case of equal division. No meeting of Directors shall be called unless by order of the Board, or the President or Vice- President ; and all notices of such meetings shall be given in writing, signed by the Secre- tary, or his Deputy, and sent to each Director, stating the object or matter to be submitted. u sir body ^ Veasurer, le annual ) any bu- e, which spatch of absence, 5 of both, 1 preside irectors. ny thing" >fDirec- )f votes, led) no le chair- n. No iless by r Vice- eetings Secre- irector, tted. VII. The President, or in his absence, the Vice- 1 /-I < President or President, shall attend daily at the Company's vke-President to attend at Office, to see that the business and affairs office daily, thereof are properly conducted. VIII. The Directors shall cause to be kept by the Acconnts of Officers therewith charged and intrusted, true the business to to be kapt. and fair accounts of the affairs, business and transactions of this Company, and shall submit annually at a general meeting of Stockholders, To be sub- to be held on the last Monday in the month of mittedtostock- holders, April, an account or clear and correct state- ment made up, and closed to the last day of March preceding ; which shall be by such general meeting, referred to a Special Com- And to be bj I referred committee. mitee of Audit (composed of not less than {J^ ''^'""^ three Stockholders, not being Directors or Officers of the Company), to report thereon to the next annual general meeting, or previously if they see fit, with power to the said Com- mittee, or any three of them (being assembled at the Company's OflSce), to call for and examine all Books of Accounts, Papers, Vou- M 'U I n chers and Officers or Servants of the Com- pany. IX. men &how ^^"^ ^''''''''' ^^^" ^^cJ^^e and pay semi- SlJptd. "^ "^"""^^ Dividends to the Stockholders (at a per centum to be fixed and determined upon from time to time by them) on amount of Capital paid in, provided that no Dividend be declared or paid, when, by losses or other misfortunes the Capital Stock of the Company, paid in cash, shall be under ten thousand pounds ; no .25 Tr: d'V'dend to exceed ten per cent per annum safety fund ea« ^'i /> /. tabiished. until after a safety fund shall have accumulated to an amount of at least £10,000, the said Fund not to be made use of, but for the payment of losses, and then again to be made up to the original amount by surplus profits after paying dividends not exceeding ten per cent until after such amount be made up. X. ^rj^^m^ '^^^ Directors for the time being, or any Ss '"S""°" five of them, unanimous and consenting at any meeting, called for that purpose, may invest 13 such part or portion of the funds of the Com- pany, (as may be at their disposal, and not otherwise required for the exigences of the said Company) in such incorporated Bank or other Public Stock, Funds or Securities, legally established within this Province, and the same to sell out, assign or transfer, so often as they shall see fit, for the benefit and advantage of the Company. XL The Directors shall grant or issue Policies of Insurance against Fire at Quebec, or else- where, in the name and for the account and risk of the said Canada Fire Assurance Company, in such form and subject to such conditions, other than those hereinafter mentioned as they may see fit, (not in any one risk exceeding the sum of £3000 currency, that is to say on any building with the goods and furniture therein) and to ask and receive in consideration more than ' £3000 on any thereof, such premiums as they may f'-om time one risk. to time see fit to establish as the 'ia. iff rates of this Company. 14 XII. The Directors shall settle and pay all just Director, to ^^^""^ o»* demands for losses bv firp «n^ , . as.heysha.U.„aydee«re,ui..e.o,e;j 'he expenses of ,he salaries of all officers and -vanu of ,he Company, fuel, s.a.iona • """""^^"'''"•'—saryeon.in.enciesld expences, not exceeding the sum of i^ pe, annum ; and shall moreover be authorized and empowered to expend such further sums for. purchase and repairs of fire engines, buckets and other apparatus, labour and contributions 'or preventing flres. as the interests of til Company may demand. xiir. Po..«„P*es Of Insurance and renewal receipts. Cert,fica.esofStock. shall be signed by h P-dent. or Vice-President and attested by the Secretary or such officer or officers as the -'■. o^ZT ""'""'"• ^^'>-'^-» 'he Bank :,^"''''°^P^y'»-'°f claims for losses by fi^, or for other objects as may be oMered by "-e Directors, shall be signed by the Treasurer 15 or in his absence a Director, and countersig-netl , , , , And contracts, by the President, or Vice-President if the Pre- how signed. sident be the Treasurer ; all other contracts or agreements sanctioned by the Board, shall be signed by such person or persons as may be appointed by the Board. XIV. The Treasurer shall have under his charge, all cash belonging to the Company, and shall, ^^^^^ ^^ from time to time, and as often otherwise as Treasurer, may be required of him (not less however than once in each month), examine the Books and Accounts and sign the Monthly Statement, and shall also see that the monies received be accounted for and deposited, (at least once in every week) in such Bank or Banks or other places of safe keeping as the Directors may ap- point, and shall leave in the Company's Office the Book or Books kept with such Bank or Banks, and in all other respects shall comply with the orders and resolves of the Board of Directors. In the absence of the Treasurer, How performed in hie absence his duties to devolve on such other person as the Directors may appoint. 16 XV. All general meetings of Stockholders shall be called and assembled at the Company's Office at Quebec, at the hour of two of the 4™TK: t"^'^^ '" ">« ^««™''°n. by special notice in the S&'.n/S.v ^"^"^"^ ^"d F'^nch languages, given in two or SS"" "■ ■"O'-e newspapers published at Quebec, at least during two weeks previous thereto, and notice sent to the Stockholders residing within the City of Quebec. No meeting shall be legal unless at least twenty five Stockholders be present, who shall, before proceeding to bu- siness, appoint a Chairman and a Secretary to record the proceedings of the meeting. Ge- neral meetings of Stockholders shall be called by order of the Directors, as often as they see fit ; and when required by any fifteen or more Stockholders legally possessing at least five hundred shares in the Capital Stock of the Company, all business or matters may be de- bated but not decided upon at any general meeting of Stockholders, save and except such business or matter contained in any report of Directors to such general meeting or as such general meeting shall have been specially calbd 17 for, to deliberate, resolve or decide upon, and as shall have been specified in the notices call- ing- the same, or of which an entry shall have been made or notice given in writing at any general meeting held immediately proceeding, and no matter shall be decided except by a ma- jority of the votes and proxies present, voting as aforesaid. XVI. The Stockholders of this Company shall be ^,^^^^^^ ^^^^ entitled to an abatement or discount on the jUowed stock- amount of premiums paid by them for Insu- rances, (the rate of which discount shall be fixed from time to time by the Directors as they may or shall deem expedient; on property i^al or personal, bona fide their own, or on their undivided share of any joint property ; but no Stockholder shall be entitled to such dis- count upon the amount of property insured ex- ceeding one hundred pounds annually for each and every share (not exceeding 100 shares) which such Stockholder may hold in the Capi- tal Joint Stock of the Company, but no dis- count to be allowed in virtue of Stock trans- 1 J8 ferred^ within the year, if previously allowed I to assignor. XVII. stockholders That if at any time Stockholders should be subjected to . "««.« kh^ ToLoZt '" "^^^^"^^ '" "°^ complying with the conditions ffiLTS "■ «"^ ^^™s '"^Posed by the By-Laws, Rules Company. ^^^ Regulations of the Company now made or hereafter to be made, such Stockholders shall from the date of such default and until such ^ terms and conditions shall have been complied with, be debarred from the right of voting from the allowance of discount on premiums! and generally from all benefits or advantages appertaining to a Stockholder; and shall more- over forfeit in favor of the Company, the profits or dividends that may be declared during such default, and shall also be chargeable with in- terest on arrears of instalments that may be called in. XVIII. gire securitj." The oflScers, clerks, or servants of the Com- pany for the time being, shall furnish good and sufiicient security for the due performance of 19 1 allowed should be conditions vs, Rules V made or Iders shall until such I complied of voting premiums, dvantages hall more- the profits iring such e with in- t may be the Corn- good and mance of their respective duties as the Directors for the time being shall deem fit. XIX. The Directors not less than five present ^o'" eSf'" shall elect and appoint a Secretary and all such Officers and Servants as they shall see fit, on such terms and with such salaries or renumera- tion as they may conceive fair and reasonable for their respective services, subject to be dis- p,^^^"J/'°"^ ^'" placed by the unanimous votes of at least five Directors at a meeting called by the President or in his absence, the Vice-President, present for the express purpose. Provided always that the said salaries or renumerations, and contingents, " shall not exceed the sum of £800 per annum as provided in the 12th clause. The Secretary ,or such other person as the secretary's . . J duties. Directors may appoint shall enquue into and examine all claims for losses by fire, and submit his report thereon for the consideration of the Directors. He shall also visit, ex- amine and ascertain the natuie of all risks and f I J! y ii 90 •he amount thereof, and fix the .ate Of premium accorduig ,o the Tariff estaUished by the Di- rectora as the Tariff rates of the Company and shall have such a superin.endance over 'he affairs and business of the Company, as may be prescribed by ,he President and Di- rector. ; and shall conform to and comply with the resolves of the Directo,. in the discharge ofthe duties of his office. XXI. Secretary's du- Tho 0« . «e c.„un»,d. ^''^ Secretary or such other Officer as may be appointed by the Director,, shall be charged and entrusted with the safe keepin. of all books, papers, deeds, securities, accounts or other documents or writings appertaining or •n any wise belonging to the Company, (cash alone excepted), and shall moreover be in- trusted and charged with the management of the Company's affairs, busines:, correspon- dence and concerns under the immediate controul of the Directors in their collective capacity, and shall comply with all such direc- tions as he nuv from time to time receive in 21 the discharg-e of liis said duties or such other duties as may be required of him. XXII. All By-Laws of the Company shall or may maKd'aitcr. ed. be made, amemlLd, altered, or revoked by the Directors, xvheii and so often as they may see fit ; but the same shall have no force or effect till they shall first have been submitted to and approved of, by at least, two thirds of the votes and proxies present, at any general meeting called and held, for that express purpose, by three weeks previous notice to be given in both languages, in at least two neswpapers published at Quebec, stating the object of the meeting ; and such amended, altered or revo- ked By-Laws shall not in any way aflfect the engagements of the Company, then and pre- viously existing. XXIII. The Stockholders at a Special General h^w the Com- Meeting, duly assembled by six months pre- dSred." vious notice, to be given in both languages in two or more of the newspapers published in ' I Office hours. Holjdays. All other re- gulations cancelled. 22 this Province, and stating the object thereof may dissolve this Company, at any period prior to that provided for by the Act of Incorpora- tion (which is therein hmited to the first day of May in the year of Our Lord, one thousand eight hundred and eighty) provided that at such meeting. Stockholders holding at least two thirds of the Joint Stock of said Company, shall consent to a dissolution thereof. XXIV. The Company's Office at Quebec shall be opened every day at Ten o'Clock A. M. and closed at Three P. M., from the first Novem- ber to the first May, and at Nine A. M. to Four P. M., from first May to first Novem- ber, excepting Sundays, and the following Holydays and Festivals, viz : New-Year's day, Good Friday, King or Queen's Birth day, Christmas-day, Epiphany, Annunciation Ascension-day, Corpus Christi, St. Peter & St. Paul, All-Saints'-day and Conception-day. XXV. The foregoing By-Laws, Rules, and Re- t thereof riod prior icorpora- first day- thousand that at at least ompany, gulations enacted by this General Meeting, in virtue of the Provincial Act Incorporating the Canada Fire Assurance Company, passed on the 18th September 1841, shall from and after this day, be the only By-Laws, Rules and Regulations in force, all others being hereby cancelled and repealed. shall be M. and N^ovem- . M. to STovem- llowing -Year's 1 Birth nation iter & •n-day. i Re / CAP. LVII. An Act for Incorporating the " Canada Fire Assurance Company. " [18th September 1841.] WHEREAS Louis Massue, Ed- ward Burroughs, Charles Ma- xiME Defoy, Charles Turgeon, Vital Tetu, George Okill Stuart, and Fran- cois Xavier Paradis, Esquires, of the City of Quebec, President and Directors of the Canada Fire Assurance Conf)pany, by their humble Petition in this behalf, have represented that a larg-e number of the Citi- zens of the City of Quebec, have associated themselves tog-ether for the purpose of in- suring* against losses by fire within this Pro- vince, under the name of the "Canada Fire Assurance Company," under certain articles of agreement, by which the Capital Stock of the said Association is limited to the sum of one hundred thousand pounds, current money of this Province, divided into four-thousand shares of twenty-five pounds each, of which Preamble. II upwards of fifty-eight thousand pounds liave been snbscribed and taken up, and have since the formation of the said Associatiou, in the year one thousand eight hundred and forty, transacted business to a very large extend, and still continue to do so ; and have prayed that for the better enabling them to carry on their said business of Assurance, they, together with others the Stockholders of the said Company, their Successors and assigns, may be incorporated under the name of " The Canada Fire Assurance Com- pany : » And whereas the establishment of the said Fire Assurance Company is condu- cive to the advancement of commerce and tends greatly to promote the prosperity of the Province ; Be it therefore enacted, by the Queen's most Excellent Majesty, by and Certain per- with the advicc and consent of the Legislative sons Incorpo- 5«.jii*iivo nSof^«Tt^°""^^^^"^°^^ Legislative Assembly of I WanS" ^he Province of Canada, constituted and ompany. " assembled by virtue of and under the autho- rity of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, *' Jn Act to Re- \ Ill nds liave and have iatiou, in dred and 3ry large and have them to ssurance, ikholders sors and the nanne 3 Com- iment of 3 condu- jrce and ityofthe by the by and igislative smbly of ited and '■ autho- mem of ain and (0 Re- mile the Provinces of Upper and Lowcf Canada, and for the Government of Ca- nada,'' and it is hereby enacted by the au- thority of the same, that Louis Massue, Edward Burroughs, Charles Maxime Defoy, Charles Turgeon, Vital Te- Tu, George Okill Stuart, and Fran- 90IS Xavier Paradis, and such others as mw are or shall under the authority of this Act be associated with them, and their se- veral and respective Heirs, Executors, Cu- rators, Administrators, Successors and As- signs, shall be and are hereby constituted and declared to be a Corporation, body cor- corporate power of the porate and politic, by the name of the " Ca- company. nadaFire Assurance Company, and shall so continue and have succession till the first day of May, which will be in the year of Our Lord one thousand eight hundred and eighty, unless this Act shall be in the mean- time repealed by this Legislature ; and shall and may by the said name be capable in law to sue and be sued, iiiiplead and be im- pleaded, answci and be answered, defend and be defended, in all Cour(s and p]nco:> . IV whatsoever, and shall also be able and ca- pable in Law to purchase, acquire, hold, Mayhoidrcai^^j^^'^"^'^*^'"* ^^ them and their Succes- tTaLVunu" sors» lands and tenements, real or immo- veable estate, for the convenient conduct and managing ofihe business of the said Corpo- ration, and for no other purpose, not ex- ceeding the yearly value of three hundred pounds current money of this Province ; and may sell, alienate aud dispose of such lands, tenements, real or immoveable estate, and purchase others in their stead for the same purpose, not exceeding the yearly value aforesaid ; and may also take and hold hy- potheque upon real estate, either to secure ploy" aly '"Jf ^^6 payment of any share of the capital stork their Capital .u /. ^ bSr/ntJ ' or to secure the payment of any debt sto"cif of pu- '^^'''^ ""^y ^^ contracted with the said Cor- biic securities, poration ; and may also proceed on the said mortgages and other securities for the reco- very of the monies thereby secured, either at Law or in equity or otherwise, in the same manner as any other mortgagee is or shall bo authorized to do ; Provided always, that it shall not be lawful for the said Corporation 3 and ca- ire, hold, Succes- )r immo- duct and I Corpo- not ex- hundred ice ; and !h lands, ate, and le same y value lold hy- ) secure al stock ny debt d Cor- le said 3 reco- either 3 same r shall h that jration to deal, or use or employ any part of the Stock, funds or monies thereof, in buying and selling any goods, wares and merchan- dizes, or in trafic, trade or commerce of any kind, otherwise than hereinbefore specified and permitted ; but nothing herein contained shall extend to prevent the] said Corporation from investing in the Stock of any incorpo- rated Bank, or in public securities in this Province, the amount of Capital Stock paid in, or such portion thereof as it shall be deemed advisable by the Directors, so to invest ; and the said Corporation may have a common Seal, and may change and alter the Common Scai. same at their pleasure, and may also from time to time, at any general meeting of the Stockholders, and by a majority of the votes given at such meeting as hereinafter provided, ordain, establish and put in execution Bye- Laws, Ordinances and Regulations, (the same not being contrary to this Act, or to the Laws in force in this Province,) as may appear to them necessary or expedient for the management of the said Corporation, its business and affairs, and may from time to rf :;: ii It 1 [f! Jl cers VI <.mo alter .„d repeal the sa.ne or any of em;a„d.aybysuchmajorayasaroresaid. %&. ".t o» ' r'' '"'" ^''"''°'' «"" other S'o,£ir