IMAGE EVALUATION TEST TARGET (MT-3) V' ^ // :a f/j dc ^ 1.0 I.I 1.25 IM 2.0 1.4 IIIIII.6 "/] li ^^ "^ vm >^ V. w M 7 Photographic Sciences Corporation 23 WEST MAIN STREET WEBSTER, NY. 14580 (716) 872-4503 \ (V amprainta d'impression ou d'lllustration, soit par la sacond plat, salon la eas. Toua las autras axampiairaa originaux sont fllmto an commandant par la pramiira paga qui comporta una amprainta d'imiprassion ou d'illustration at an tarminant par la darnlAra paga qui comporta una taila amprainta. Tha last racordad frama on aach microficha shall contain tha symbol — ^ (moaning "CON- TINUED"), or tha symbol ▼ (moaning "END"), whichavar appliaa. Un das symbolas suivants apparattra sur la darnlAra imaga da chaqua microficha, salon la caa: la symbols '-^ signifia "A SUIVRE". la symbols ▼ signifia "FIN". Maps, platas, charts, ate, may ba filmad at diffarant raduction ratioa. Thoaa too larga to ba antiraly includad in ona axposura ara filmad baginning in tha uppar laft hand cornar, laft to right and top to bottom, as many framaa aa raquirad. Tha following diagrama lliustrata tha mathod: Laa cartas, planchas, tableaux, ate, pauvant Atra fllmis A das taux da rMuction diffArants. Lorsqua la document est trop grand pour Atro raproduit an un saui clichi, 11 est film* * partir de Tangle supArieur gauche, de gauche h droite, et de haut an baa, en prenant la nombre d'images nAcessaire. Las diagrammes suivants iilustrent ia mithoda. 32X 1 2 3 1 2 3 4 5 6 37 VICT,— CAP. II. An Act to provide for the granting of Aid to certain Railway Companies. H [Assented to 2Slh January, 1874.] ER MAJESTY, by and with the advice and consent of the Legislature of Quebec, enacts as follows : 1. The lieutenant-governor in council may, subject to the The Ueut-gov. conditions and limitations contained in the colonization rail- ^iJlsoo'^por way aid act of 1869, in relation to the conversion of subsidy miio to certain therein mentioned, and further subject to the conditions, ^^^^l *'°"' limitations and provisions of this act, grant provincial aid in lieu of that specified in the said colonization railway aid act of 1869, to the extent of two thousand five hundred dol- lars for each and every continuous and unbroken mile of railway, w^ith no additional allowance for bridges, to each of the following companies, namely : The Quebec and Lake St. John railway ; The Levis and Kennebec railway ; The South-Eastern railway, for such portion thereof as formerly belonged to tlie Richelieu, Drummond and Artha- baska Counties' railway ; The Philipsburg, Farnham and Yamaska railway ; The Missisquoi and Black River Yalley railway ; The Quebec Frontier railway ; The Quebec and New Brunswick railway ; The St. Francis and Meffantic International railway ; The Bay of Chaleurs railway ; The Sherbrooke, Eastern Townships and Kennebec rail- way ; The Waterloo and Magog railway ; an'd The Montreal Northern Colonization railway (branch line.) The lieutenant-governor in council may also, subject to $i,ooo per the foregoing conditions, grant unto the Montreal, Cham- -"nt^d for'the bly and Sorel Railway Company, and unto the South road buiit by Eastern railway company, provincial aid to the extent of nies'before'"'' one thousand dollars per mile, for such length of road as their amaiga- belonged to each, before the amalgamation of such railway ^nation. companies respectively, with other companies, on com- pliance with the law in that behalf 2 Cap. 2. Aid to certain Railway Companies. 37 ViCT. Money aid 9. AH sums of mony heretofore paid by the government ed to^bo ul" n ®^ *^^'^ province to any of the above mentioned railway as on account Companies, under the act referred to in the foref^oing section, grant""* or Under any act amending the same, shall be deemed to have been paid to such company on account of, p.nd shall be deducted from the increased aid or subsidy to which it would otherwise have been entitled under this act. Aid may be 3. Notwithstanding any provision contained in the oiioh'25 m'iiea Colonization railway aid act of 1869, the lieutenant-governor of road 00m- in couucil, if he thinks proper, may nevertheless, when it pieted. jg established that any one of such companies is actively engaged in the construction of its works, grant to it for each twenty-five miles or more of road completed or one continuous half of the whole line, a portion of such provincial aid, proportionate in amount to such length of road. The Quebec and New Brunswick railway com- pany must renounce its grant of lands. TheSt.Francis and Megantio International railway 00. must renounce its grant of lands. 4. The Quebec and, New Brunswick railway company shall not be entitled to any aid under this act, unless it shall have, on or before the first day of January one thousand eight hundred and seventy-five, signified in writing unto the secretary of the province, the abandonment by it of any claim to the grant of land specified in the eighth, ninth, tenth and eleventh sections of the act of this pro- vince, thirty-fourth Victoria, chapter twenty-one, and the acceptance by it of the subsidy or aid accorded by this act ; in the event of the company determining to accept such aid or subsidy, and so signifying its intention, it shall be deemed to have forfeited, and shall forfeit all claim to the grant? of lands mentioned in the said act. 5. The St. Francis and Megantic International railway company shall not be entitled to any aid under this act, unless it shall have, on or before the first day of January, one thousand eight hundred and seventy-five, signified in writing unto the secretary of the province, the abandon- ment by it of any claim to the grant of land specified in sections two, three and four of the act of this province, thirty-fifth Victoria, chapter twenty-three, and the accept- ance by it of the subsidy or aid accorded by this act ; in the event of the company determining to accept such aid or subsidy, and signifying its intention to that eflfect, it shall be deemed to have forfeited, and shall forfeit all claim to the grant of lands mentioned in the said act. chaieuM°raii ^' ^^^ ^^^ °^ Chalcurs railway company shall not be way 00. must entitled to any aid under this act, unless it shall have, on or renounce its before the first day of January, one thousand eight hundred grant of lands. _j • n • -n 3 - 'i.' j. j.i- j. /• and seventy-live, signified m writing unto the secretary of the province the abandonment by it of any claim to the grant of land specified in sections one and two of the act of this 1874. Aid to certain Raihvay Companies. Cap. 2. 8 province, thirty-sixth Victoria, chapter forty-two, and the acceptance by it of the subsidy or aid accorded by this act ; in the event of the company determining to accept such aid or subsidy, and signifying its intention to that effect, it shall be deemed to have forfeited and shall forfeit all claim to the grant of lands mentioned in the said act. 7. The Quebec and Lake St. John railway company shall The Quebeo not be entitled to any aid under this act, unless it shall John^r^iwly have, on or before the first day of January, one thousand oo. muit re- eight hundred and seventy-five, signified in writing unto grant of lands. the secretary of the province the abandonment by it of any claim to the grant of land specified in sections five and six of the act of this province, thirty-fifth Victoria, chapter twentv-three, and the acceptance by it of the subsidy or aid accorded by this act ; in the event of the company deter- mining to accept such aid or subsidy, and signifying its in- tention to that effect, it shall be deemed to have forfeited and shall forfeit all claim to the grant of lands mentioned in the said act. 8. If any company mentioned in the first section of this Certain oom- act, with the exception of the Quebec and New Brunswick P^ganizTiJd railway, the St. Francis and Megantic International rail- have at least way, the Bay of Chaleurs railway, and the Quebec and Lake Joad'ready to St. John railway, to which four companies the provisions of receive rails this section shall in no manner apply, is not upon the first jg^^™ ^"* ^**^' day of November, one thousand eight hundred and seven- ty-four, fully and in good faith, organized under the charter thereof, and has not on such day, at least ten miles of road graded and in perfect readiness for rails to be laid down thereon, such company shall not be entitled to a / grant under the first section of this act, but on the contraiy. in so far as relates to any such railway company, the gram men- tioned therein shall be entirely inoperative and of no effect. 9. The lieutenant-governor in council may, subject to the a loan of provisions of the next following sections grant, by way of^J^'aj^f"*^ loan, to the Montreal Northern Colonization railway com- the railway pany for building a railway from Montreal to Aylmer, pro- [o°?yi^er."*^ vincial bonds or debentures to the extent of seven hundred and fifty-one thousand three hundred and sixty-six dollars, which he is hereby authorized to issue in such forms, for issue of bonds such amounts, and subject to such provisions in respect auVhoriled''"" thereof, as shall be deemed to be in the public interest. 10. The said last mentioned company shall be entitled Conditions. to the said loan, upon the following conditions only : 1. The whole of the said railway shall have been com- Delay, pleted and put into operation between Montreal and Ayl- 4 Cap. 2. Aid to certain Railivaij Companies. 87 ViCT. OoTernment director!. mer, and also the branch of the said road from Ste. Ther^so de Blainville to the village of St. .Terom«», on or before the first day of May, one thousand eight hundred and seventy-six, to the entire satisfaction of the lieutenant- governor in council ; Conneotioii 2. The said railway shall connect with the North Shore Shore r°aiiway. railway froHi Qucbec to Montreal, at such point as has been determined by the lieutenant-governor in council ; 8. The lieutenant-goA'-ornor m council shall have the ap- pointment of one third of the directois of the company without counting the ex-officio director or directors repre- senting municipalities, and no city, town or municipality shall be represented in the company by a greater number of directors than the lieutenant-governor in council ; Abandonment 4. The Company shall, on or before the first day of August, landsToxoept ^^^ thousaud eight hundred and seventy-four, signify in share of lands writing, unto the secretary of the province, the abandon- in bloc A. jjjgji^ ^y it of any claim to the grant of lands specified in section five of the act of this province thirty-fourth Vic- toria, chapter twenty-one, and section three, of the act also of this province, thirty-sixth Victoria, chapter forty-two, except the share of the said company in that portion of the said land grant described in the schedule of the said act, thirty-fourth Victoria, chapter twenty-one, as block A, and the acceptance by it of the grant or loan accorded by this act. In the event of the company determining to accept such grant or loan, and signifying its intention to that effect, it shall be deemed to have forfeited and shall forfeit all claim to the grant of lands mentioned in the said acts, except as hereinabove mentioned ; com'^anyV^ 6. The Company shall, on receiving the provincial bonds bonds bearing or debentures or any part thereof, as hereinafter provided, interest. gjyg jjj exchange therefor debentures of the company, bearing interest at the rate of six per cent per annum, to an, equal and corresponding amount ; ' 6. Such amount of the capital stock of the said company shall have been subscribed for, over and above the amount w^hich has already been, or which may hereafter be sub- scribed for by municipalities, as the lieutenant-governor in council shall deem just and reasonable, and at least ten per cent upon such additional stock, shall have been bond fide paid in to the company ; 7. The main line of the said company's railway shall be a first class road, and shall have been accepted as such by the lieutenant-governor in council on the report of the pro- vincial railway board. Aid may be i|_ The lieutenant-govcrnor in council may, however, irmiie's'of'^ if he thinks proper, when it is established that the said com- r oad com- pany is actively engaged in the construction of the works, Capital to be subscribed. Class of the road. 7 Vict. pm Ste. on or undred tenant- 1874. Aid to certain Railway Companies. Cap. 2. grant unto such company ad soon as twenty-five miles of p'«'«d. the railway shall have been completed, and for every twenty five milen thereafter, a portion of such provincial grant or loan proportionate to such length of road. IS. After the coming into force of this act, and the accept- Imuo of their ance by the said company of the above mentioned loan, f,'^^^""^ •" upon the conditions hereinbefore stated, the said company shall further undertake and oblige themselves not to issue their bonds or debentures, for any sum other or greater than that which may hereafter be fixed and determined by the lieutenant-governor in council. 13. The company shall, on receiving the provincial bonds or debentures, or any part thereof, give in exchange therefor, their bonds to an equal and corresponding amount, payable in thirty years, and bearing six per cent interest, and such bonds sliall be held by the government as colla- teral security for the loan made to the said company under this act. But so soon as the said company shall be in a position to issue second-class bonds or debentures, such second-class bonds shall be handed over to the government in lieu and place of the bonds originally given to the government as aforesaid, and for a similar amount. And in either case the loan made by the government to the company in virtue of this act, both in principal and interest, shall rank after the subscription of stock now made, or hereafter to be made by municipal corporations, and the dividends or profits thereon, and before all private subscriptions of stock and dividends accruing thereon. 14. If that part of the line of the Montreal Northern Colo- nization railway company, which extends from Aylmer to Deep River, has been definitely located, and the company has made satisfactory proof of their readiness to proceed with the work of construction, on or before the first day of June, one thousand eight hundred and seventy-five, it shall be lawful for the lieutenant-governor in council to grant unto the said company, by way of loan, provincial bonds or debentures which he is hereby authorized to issue, in such forms, for such amounts, and subject to such provi- sions in respect thereof, as he shall deem expedient. But in the event of the said Montreal Northern Colonization rail- way company not proceeding with the construction of the line from Aylmer to Deep River in good faith — within the limit of time provided by this section — then, and in that case, the lieutenant-governor in council may authorize any railway company incorporated or to be incorporated to proceed with the construction of the said line between Aylmer and Deep River, and be entitled to the grant by The company, on rocoiviDg lonn, «hn11 give the bonds III collateral soourity. These shall be replaced by 2ud class bonds. Rank of loan. Proportionate aid may be gl .'on for the road from Aylmer to Deep river. Issue of bonds for this pur- pose. Another com- pany may bo authorized to build the road, and Mrhen ? 6 A loan nf $1,248,034 may be made to the North Shore road, and the road to the Grnnilea Pilei, and to a line of steamori on the St. Maurice. Issue of bonds for this pur- poae. Conditions. Road to be put into oporation. Aid may bo given for each 25 miles of road com- pleted. A portion of the loan to be retained to insure the building of the Grandos Piles road. Abandonment of grant of lands, except sharo in lands in bloclc A. Cap. 2. Aid to certain Railway Companies. 87 ViCT. way of loan provincial bonds or debentures provided for in this clause. Such loan shall bu made for an equal and corresponding" amount nor mile, and under the con- ditions and terms specified in this act, in relation to that portion of the said railway lying between Montreal and Aylmer. I«T The lieutenant-governor in council may, subject to the provisions of the ner.t foUowinff sections, grant unto the North Shore railway company, for building the North Shore railway from Quebec to Montreal, and the road from the city of Three Rivers to the Grandes Piles, and the establishment of a line of steamers on the St. Maurice, as mentioned in the act of the late province of Canada, inti- tuled : " An act to incorporate the St. Maurice railway and navigation company, " and by way of loan, the sum of one million two hundred and forty eight thousand six hundred and thirty-four dollars, and payment of such grant or loan shall be made in and by means of provincial bonds or debentures, which the lieutenant-governor in council is hereby authorized to issue in such forms, for such amounts, and subject to such provisions in respect thereof as he shall deem to be for the public advantage. 10. The company shall be entitled to such loan upon the following conditions only : 1. The said railway shall have been completed and put in operation to the entire satisfaction of the lieutenant-gov- ernor in council, and steam navigation shall have been put into operation on the St. Maurice. The lieutenant-governor however may, if bethinks proper, when it is established that the said company is actively engaged in the construction of its works, grant to it for each twenty-five miles of road com- pleted, a portion of the said loan, proportionate in amount to such length of road ; and provided moreover that he shall always retain a sufficient amount of the said loan to insure the entire completion of the road from the city of Three Rivers to the Grandes Piles, and the establishment of a line of steamers on the St. Maurice ; 2. The company shall, on or before the first day of May, one thousand eight hundred and seventy-four, signify to the secretary of the province, the acceptance by it of such loan in lieu of the grant of lands to which it might other- wise have been entitled under the act of this province thirty- fourth Victoria, chapter twenty-one, intituled : " An act to provide for the granting of certain lands in aid of the rail- way companies therein mentioned ; " except the share of the said company in that portion of the said land grant describ- ed in the schedule of the said act as block A, and in and by such signification it shall resign and renounce, and shall 1874. Aid to c itain Railway Companies. Cap. 2. 1 be deemed to have resigned and renounced all claim to any such ffrant of lands, save and except the said Hhi> re or portion in olock A. ; 8. The company in exchange and return for all pr ovin- corapwy to cial bonds or debentures granted to it under the provi- j'*^°^*°«[»^j sions of this act, shall give its own bonds or debentures for int'eri'it/" " similar amounts ; and all such bonds or debentures shall be redeemable within thirty years from the date thereof, and shall bear interest at the rate of six per cent per annum, and no such debenture shall be for a less sum than one hundred dollars ; 4. At least ten per cent shall be paid on all stock sub- Capital p»id. scribed, and not cancelled by the board of directors, but this provision shall not apply to stock subscribed by muni- cipalities. 5. The main line of the said railway, shall be a first-class Road to be a road, and shall have been accepted as such by the lieute-^'*"'*" '°°** nant-govornor in council, on the report of the provincial railway board. Vt. After the coming into force of this act, and the ac- Company may ceptance by the said company of the above mentioned loan, ["J*"!^""^'*® upon the conditions hereinbefore stated, the said company fixed by iiout.- may issue their bonds or debentures, for such sum as^"^- may hereafter be fixed and determined by the lieute- nant-governor in council, and for no other Or further sum w^hatsoever, any act to the contrary notwithstanding, and such sum so fixed and determined shall be raised sub- ject to the forms and provisions of the eleventh sub-section of the ninth clause of the railway act, contained in the con- solidated statutes of Canada, chapter sixty-six, which shall apply to such loan. 18. And for securing the due payments of the bonds, de- Property of the bentures or other securities to be issued by the said com- hypotheoa\°ed° X^any, as well by reason of the loan authorized by the fore- and rank of going section, as for and in exchange for the provincial de- '"ypo'^ooB. bentures to be granted under this act, the road, lands, and real and personal estate of the said company shall be charg- ed and hypothecated in the order and manner following, that is to say : 1. In favor of all persons holding bonds or debentures issued by the company, under section seventeen of this act, w^hich bonds and debentures shall be hereafter known and styled " North Shore railway company, first preference bonds ; " 2. In favor of the corporation of the city c " Quebec and all other subscribing municipalities to the amount of the capital sum of their subscribed stock ; and a dividend there- on not exceeding seven per cent per annum ; 8 Cap. 2. Aid to certain Railway Companies. 87 ViCT. 8. In favor of the government of this province, for the amount of the provincial bonds exchanged for the bonds and debentures of the company under the provisions of this act. iTumber of di- 19. In the event of the company determining to accept the loan hereinabove specified, upon the terms and condi- tions set forth in this act, and signifying their acceptance thereof, in the manner and form herein provided, from and after the twentieth day of May, one thousand eight hundred and seventy-four inclusively, the board of directors of the ''ompany shall be composed of twelve members in addition to the representatives of the municipalities entitled to form part thereof Of these twelve members, six shall be named by the lieutenant-governor in council, and six only shall, in future, be elected by the shareholders and bond-holders, in the manner hereinafter provided ; but until the twen- tieth day of May, one thousand eight hundred and seventy- four, the said board shall consist of the i)resent directors, Present board, and until the next election of directors the board shall not have power to fill vacancies among the directors elected. Six to be named by lieut.-gov. Bond-holders shall vote. ?e"*ur*d"°"^ 20. In the election of directors of the said company on require o ^^^ twentieth day of May next, and at all elections there- after, eacli shareholder shall be entitled to one vote for each one hundred dollars of stock held by him, upon which at least iQU per cent shall have been paid up, and upon which all other and subsequent calls shall also have been paid up, and each person holding bonds or debentures of the said company issued under section seventeen of this act, shall be entitled to one vote for each one hundred dollars of bonds or debentures so held by him, and such shareholders and bond- holders shall be entitled to vote either in person or by proxy. be''m"dTto°tho. **: Notwithstanding anything to the contrary contained Montreal iu this act, it shall be lawful for the lieutenant-o-overnor in ni3o™and° ^o^^cil, ou Satisfactory proof that the Montreal Northern North Shore Colonization railway company, or the North Shore railway company, have made complete financial arrangements or entered into contracts in good faith, for the construction of their respective lines of road, and that the work thereon is in active progress, to advance, from time to time, unto eitheir or both of such railway companies, out of the grant or loan, to which they would be entitled under this act, a sum bearing such proportion to the total amount of the grant authorized herein, as the progress of the work, and the security taken by the companies, for the completion thereof, may then seem to the lieutenant-governor in coun- roads. 1874. Aid to certain Railway Companies. Cap. 2. 9 cil to justify. But nothing in this section shall in any way Proviso, aifect the proviso contained in the sixteenth section of this act. 32. In the event of any of the said railway companies This act shall neglecting to exercise tha option conferred upon it or ne- d<"^ app'y ^ glecting to signify its acceptance in the manner and within dedarUig their the delay prescribed in this act, then and in such case, the «>pt>on within provisions of this act shall in no respsct apply to such rail- doLys!^""''*'* way company, and in so far as concerns such railway com- pany this act shall be deemed not to have been passed. 2Jl. All provincial bonds or debentures issued under the Provincial authority of this act shall be made payable in thiity years ^o'^'^s- from the date thereof, and shall bear interest at the rate of five per cent per annum, and in the case of the issue there- of, it shall be the duty of the treasurer of the province, to cause to be invested yearly, one per cent on the amount of such bonds or debentures, as a sinking fund, for the redemp- siniting fund, tion of the principal thereof at maturity. 94. The treasuren of the province on being authorized by Negotiation of the lieutenant-governor in council, may negociate and sell ^^^^s- the said debentures mentioned, and pay the proceeds there- of to the respective railway companies under this act. 3«5. The expression "The Quebec railway aid act of citation af this 1874" shall be a sufficient citation of this act, and it shall ?„°^' 'f*',""™'''^ come into force on the day of its sanction. by