IMAGE EVALUATION TEST TARGET (MT-3) 1.0 I.I 11.25 Bi tSi 12.2 S Hi ■It m.„ 2.0 U 11.6 Hiotographic Sciences Corporation 33 WEST MAIN STREET WEBSTER, N.Y. 14580 (716) 872-4503 CIHM/ICMH Microfiche Series. CIHM/ICMH Collection de microfiches. Canadian Institute for Historical Microreproductions / Institut Canadian de microreproductions historiques ?iiiSl Technical and Bibliographic Notes/Notes techniques et bibliographiques The Institute has attempted to obtain the best original copy available for filming. 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The posi of tl filmi Orig begl the sion othc first sion or il The shal TINI whii Mar diffi enti begi righ reqi met 10X 14X 18X 22X 26X 30X >/ 12X 16X 20X 24X 28X 32X The copy filmed here hes been reproduced thanks to the generosity of: Library of the Public Archives of Canada The images appearing here are the best quality possible considering the condition and legibility of the original copy and In keeping with the filming contract specifications. Original copies in printed paper covers are filmed beginning with the front cover and ending on the last page with a printed or illustrated impres- sion, or the back cover when appropriate. All other original copies are filmed beginning on the first page with a printed or illustrated Impres- sion, and ending on the last page with a printed or illustrated impression. The last recorded frame on each microfiche shall contain the symbol —^-(meaning "CON- TINUED"), or the symbol V (meaning "END"), whichever applies. 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Tous les autres exemplaires orlginaux sont fiimis en commengant par la premiere page qui comporte une empreinte d'impression ou d'iilustration et en terminant par la dernidre page qui comporte une telle empreinte. Un des symboles sulvants apparattra sur la dernidre image de cheque microfiche, selon le cas: le symbols -^ signifie "A SUIVRE", le symbols y signifie "FIN". Les cartes, planches, tableaux, etc., peuvent dtre filmte d des taux de reduction diff6rents. Lorsque le document est trop grand pour dtre reproduit en un seul cllch6, 11 est film6 d partir de I'angle sup6rleur gauche, de gauche i droite, et de haut en bas, en prenant le nombre d'images n6cessaire. Les diagrammes sulvants illustrent la mithode. 1 2 3 4 5 6 r. -_^^ BY-LAWS • ruB THE MAISTAGMDMIillSrT or THK CANADA LANDED (CREDIT C^ MADK IN rUHSUANOK OF Till'; ACT 22 VICTORIA, CHAPTER 188. TOKON TO: JMiJNTKI) BY THOMPSON & CO., 77, KIi\(J STllKKT EAST. 1859. w -r^ iroctors may rc(|uiro, in pursuance of the ]4tli Clause of the Company's Charter. DISQUALIFICATION OF DlltlK'TORS. 11. The office of Director shall be vacated if he holds any other office or place of profit under the Company. 12. Tf he becomes insolvent. 13. If he is concerned in or participates in the profits of any contract with the Company. 14. If he participates in the prollts of any work done for the Company. 1"). ]Jut the above rules shall be subject to tlu; following exceptions : — That no Oirector shall vacate bis olllce by reason of his being a shareholder in any incor- porated company wliieh has entered into contracts with or done any work for the Company of which he is a Director; nevertheless ho shall not vote in respect of such contract or work, and if he does so vote his vote shall not be counted, and he shall iiu-ur a jionalty of fifty dollars. And also that no Director shall vacate bis otliee by reason of being concerned in or participating in the profits of any contract witli the Company, if at the next general meeting of the (Company held after such contract is made, the same shall bo approved by a vote of the Company. ROTATION OF DIRECTORS. IC). If at any meeting at which an election of Directors ought to take place no such election is made, the meeting .shall .stand adjourned till the next day at the fiame time and jilace ; and it at such adjourned meeting no election takes place, the former Directors shall continue to act until new Directors are appointed at the first ordinary meeting of the following year. 17. Any casual vacancy occurrinL'' in the Board of Directors may be filled up by the Directors, but any person so chosen shall retain his office so long only as the vacating Director would have retuincil the same if no vacancy had occurred. PllOCEKDIN'dS OF DIRKCTORS. 18. The Directors may meet togotlier for the despatch of business, adjourn and otherwise regulate (heir meetings as they think fit. Questions arising at any meeting .shall be decided by a majority of votes : in ca.se of an equality of votes the chairman in addition to his original vote shall have a ea.stiug vote ; a Director may at aiiv time summon a ineetinij; of the Directors. ) )' in. If nl, liny nicetin^ tlio fVcsidiMit or Vico-I'rositlt'iit mo rint. piTucMit nt llic tiiiio iippoiritod for holditiir tlin huuk', tlio diructdM prcsont shall cIidomc iouw mit' of their tiuiiibiT to l.»o Chairmiin ot'.xticli iiicctiiiL'. 20. An iittondanco book hIiuII be kept in whieii the Directors) present ut any moctini;; shall nh^n their names. 21. The Directors may delejiato any of theiv jjowors tu (.'omniittecs consisting; of such number or numbers of their body u.s they think lit. Any connnitteo so formed shall in the c^ereiso of tho powers so deloj^atod conform to any ro<;ulii- tiona that may be imposed on them by the J directors. 22. A committee may elect a ('hairman of their meetim;s, if no such chairman is elected or if he is not present at the time appointed for hdldini,' tho same, the members present shall choose one of their number to he (Ihuirman of such meeting. 23. A committee may moot and adjourn as they think proper. (Questions at any iMOctini;;^ shall ho determined by a majority of the votes of the members pre- sent, and in case of an c(iua' division of votes, the (Jluiirnian shall inive a easting' vote. 24. All acta done by any meetinirs of the Direotcs or of a Committee of ])i- roctors. or by any person acting as a Director, shall, notwithstanding that it be afterwards discovered that there was some defect in tho appointment of any suuh Directors or persons acting as aforesaid, or that they or any of them were dis- qualiticd, be as val'd as if every sucli person had been duly appointed, and was (lualified to be a Director. 25. Tho Company in general meeting may for the causes hereinbefore set forth by a special resolution, remove any Director before the expiration of his period of olHco, and appoint another ((ualified person in his stead, the pcrsun so appoint- ed shall hold oifico during such time only as tlie Director in whose place he is appointed would have held the same if he had not })een removed. 20. The Directors shall require a guaniiity of iidelity from every servant of tho Company, in proportion to the responsibility vested in each. The guaranty shall be in the keeping of the President. ACCOUNTS. 27. The Directors shall cause true accounts to he kept of the stock in trade of tho Company: of tho sums of money received and expended by the Company, and the matter in respect of whidi such receipt and expenditure takes place j and of the credits and liabilities of tiie Company. Sueh accounts .shall be kept upon the principle of double entry, in a cash hook, journal and ledger. And the books of account shall be kept at the principal otiiee of the Company. 28. Onco at least in every year the Directors shall lay before the Company in general meeting a statement of the income and expenditure for the past year, made up to a date not more than three months before such meeting. -!), Tlio htalciiK'iit so iiiiiili .sliull »<)iow, arraiijjod uiidor llu; luoht ( oiivciiicnl IioikIn, the ftiiumnt of f:roHH iiicDinn diHtiiigui.sliin^ the sovornl .MoureoM from which it liiiH been ihuivoi], :iiul tho ntnuunt uf ^ruHH o.xponJituro dintiufiui.'ihin^ th(> cxpciiHo of tho cstiiblLsIiinciit, kuIiuich and other like niiittci's ; every item of exju'ndituro fairly ehar:;oablo aLrniii.Ht tho yt'ar's iiicoiiic, Mhiill bo brought into accmiiit, so that a just bahmce of profit and K)MS may bo laid before tho meet- \n<^ ; and in euscs whero any itii.i of oxpeudituro which luny in fuime.sH bo di.stributed over several ycarH, has been incurred in anyone year, the whole amount of hucIi item shall be stated, with the addition of the reasonH why only a portion of wuch expenditure is eharyed against tho income of tho year. 1)0. A balance sheet shall bo niiule out in every year to Illst December, and laid before the general meeting of the Ciiinpany, on the first Wednesday in February after this present year; and such balance sheet shall contain a summary of tho property and liabilities of the Company, arranged under their proper heads. AUDIT. 81. The accounts of the Company shall bo examinod and tho correctness of tho balance sheet ascertained by ono or more auditor or auditors, to be elected by tho Company in general meeting, pursuant to the 4-lth section of tho Act. 32. If not more than ono auilitor be appointed, all tho provisions herein con- tained, relating to auditors, .shall ajjply to him. 33 The auditors need not bo shareholders in the Company. No person is eligible as an auditor, who is interested otherwise than as a shareholder in any transaction of the Company ; and no director or other olHocr of tho Company ia eligible during his continuance in oifice. 34. Any auditor shall bo rc-eligiblo on his (juitting office. 35. If any casual vacancy occurs in tho oHice of auditor, the directors shall forthwith call an extraordinary general meeting, for tho purpose of supplying the .same. 3(3. If no election of auditors be luade in manner aforesaid, tho In.spector- General may, on tin; application of une-lifth in number of tho shareholders of tho Company, appoint an auditor for the current year, and fix the remuneration to be paid to him by the Company for his services. 37. Kvery auditor shall bo supplied with a copy of the balance sheet, and it shall be his duty to examine the same, with the accounts and vouchers relating thereto. 3S. I'jvery auditor shall have a list delivered to him of all books kept by the Company, and ho shall at all rea,sonable tiim's have access to the books and accounts of the Company; ho may, at the expense of tho Company, employ accountants or other portions to assist him in investigating such accounts, and ho may in relation to such accounts examine the directors or any other oflicer of the Company. I it 3i). Tlu) auJitorH wliall make a report tu iliu Mliar'.;holtl»ir,H upon the balance shoot and accounts, ami in ovory .such report they ^