^. ^ ^ IMAGE EVALUATION TEST TARGET (MT-3) &? s?/ 1.0 I.I ■ 5 Q " lllB 1.8 1.25 1.4 1.6 ^ 6" ^ Photographic Sciences Corporation 23 WEST MAIN STREET WEBSTER, NY. 14580 (716) 172-4503 1 CmM/ICMH Microfiche Series. CIHM/ICMH Collection de microfiches. Canadian Institute for Historical Microreproductions / Institut canadien de microreproductions historiques Technical and Bibliographic Notes/Notes techniques et bibllographiques The Institute has attempted to obtain the best original copy available for filming. Features of this copy which may be bibiiographically unique, which may alter any of the images in the reproduction, or which may significantly change the usual method of filming, are checked below. L'Institut a microfilm^ le meilleur exemplaire qu'iS lui a 6^^ possible de se procurer Les details de cet exemplaire qui ^ont peut-etre uniques du point de vue bibliographique, qui peuvent modifier une image reproduite, ou qui peuvent exiger une modification dans la m^thode norma;e de filmage sont indiques ci-dessous. n Coloured covers/ Couverture de couleur \/ Coloured pages/ Pages de couleur n Covers damaged/ Couverture endommagee D Pages damaged/ Pages endommagees n Covers restored and/or laminated/ Couverture restaur6e et/ou pellicul^e D Pages restored and/or laminated/ Pages restaurees et/ou pelliculees Cover title missing/ Le titre de couverture manque m Pages discoloured, stained or foxed/ Pages decolorees, tachetees ou piquees D Coloured maps/ Cartes g^ographiques en couleur D Pages detached/ Pages detachees D Coloured ink (i.e. other than blue or black)/ Encre de couleur (i.e. autre que bleue ou noire) ^' Showthrough/ Transparence Coloured plates and/or illustrations/ Planches et/ou illustrations en couleur D Quality of print varies/ Qualite inegale de I'impression D Bound with other material/ Relie avec d'autres documents D Includes supplementary material/ Comprend du materiel supplementaire n D Tight binding may cause shadows or distortion along interior margin/ La reliure serree peut causer de I'ombre ou de la distortion le long de la marge int^rieure Blank leaves added during restoration may appear within the text. Whenever possible, these have been omitted from filming/ II se peut que certaines pages blanches ajout^es lors dune restauration apparaissent dans le texte, mais, lorsque cela 6tait possible, ces pages n'ont pas 6t6 film^es. Only edition available/ Seule Edition disponible Pages wholly or partially obscured by errata slips, tissues, etc., have been refiimed to ensure r^ best possible image/ Les pfc.T^. totalement ou partiellement obscurcied par un feuillet d'errata, une pelure, etc , ont et^ filmees a nouveau de facon ^ obtenir la meilleure image possible. n Additional comments:/ Commentaires suppl^mentaires: This item is filmed at the reduction ratio checked below/ Ce document est filmd au taux de reduction indiqu6 ci-dessous. 1CX 14X 18X 22X 26X :wx / 12X 16X 20X 24X 28X 32X The copy filmed here has been reproduced thanks to the generosity of: Thomns Fisher Rare Book Library, University of Toronto Library L'exemplaire film6 fut reproduit grdce d la g6n6rosit6 de: Thomas Fisher Rare Book Library, University of Toronto Library 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. Les images suivantes ont 6t6 reproduites avec le plus grand soin, ccmpte tenu de la condition et de la nettet^ de l'exemplaire film§, et en conformit6 avec les conditions du contrat de filmage. 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 bauk cover when appropriate. Ail other original copies a^e 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. Les exemplaires originaux dont la couverture en papier est imprim^e sont fiim^s en commenpant par le premier plat et en terminant soit par la dernidre page qui comporte une empreinte d'impression ou d'illustration, soit par le second plat, selon le cas. Tous les autres exemplaires originaux sont film^s en commenpani par la premiere page qui comporte une empre:nte d'impression ou d'illustration et en terminant par la derniere page qui comporte une telle empreinte. The last recorded frame on each microfiche shall contain the symbol — ^ (meaning "CON- TINUED "), or the symbol V (meaning "END"), whic^ever applies. Un des symboles suivants apparaitra sur la dernidre image de chaque microfiche, selon le cas: le symbole — ► signifie "A SUIVRE", le symbole V signifie "FIN". Maps, plates, charts, etc., may be filmed at different reduction ratios. Those too large to be entirely included in one exposure are filmed beginning in the upper left hand corner, left to right and top to bottom, as many frames as required. The following diagrams illustrate the method: Los cartes, planches, tableaux, etc., peuvent dtre film^s d des taux de reduction diff^rents. Lorsque le document est trop grand pour etre reproduit en un seul cliche, il est filmd S partir de Tangle sup6rieur gauche, de gauche d droite, et de haut en bas, en prenant le nombre d'images n^cessaire. Les diagrammes suivants illustrent la mdthode. 1 2 3 1 2 3 4 5 6 Dated 1870. THE NORTHERN RAILWAY COMPANY OF CANADA AND THE HAMILTON & NORTH WESTERN RAILWAY COMPANY. SVgtecment* /v ,.^W K F y X \ V 3^^ '?'>'i|»'iV' llDiitcr, Rose & Co. , Printers, Tiifuiito. Vi-- / » Vi'csTcoi Tu;^i|v^tfWf u>-.\p/\^'-(.' ^QtCCntCnt made tlie Sixth day of June, one thous- and cif?ht hundred and seventv-nine between THE NORTHERN RAILWAY COMPxVNY OF CA- NADA (hereinafter called the Northern Company) of the one part and THE HAMILTON AND NORTH WESTERN RAILWAY COMPANY (hereinafter called the North Western Company) of the other part. WHEREBY in pursuance and exercise of the several powers enabling them respectively in this behalf the Northern Company and the Nortli Western Company hereby agree (subject to such confirmation as is by the several statutes in that behalf required to be given) in manner following that is to say : — 1. The working of the Railways of the Northern Company and of the North Western Company and every part of the same respectively including any and every Railway in connection therewith and particularly the Railway of the Nortli Sinicoe Railway Company now in lease to the Northern Company by virtue of an indenture of lease dated the fourteenth of January one thousand eight hundred and severftv-eight shall for and during a term consisting of so much of twenty-one years to be computed from the date of this Agreement as shall be unexpired at the date hereinafter fixed for the coming into operation of this Agreement be carried on upon the terms and conditions and according to the tenor of this Agreement under the direction and super- intendence of the Joint Executive Committee for the appointment of which provision is hereinafter made and according to such rules regulations and resolutions as shall from time to time be made by the Executive Com- mittee and shall be confirmed by the Boards of Direct- ors of both Companies or not disallowed by the Board of Directors of eitlier Company or in case of disallowance by the Board of Directors of one only of the Companies shall be confirmed on reference to a Referee as herein- after provided. 2. For the purposes of such working as aforesaid all the locomotives and other rolling stock vessels equipment an*! plant and all the stores tools and other moveable propci'ty of the Northern Company and of the North Western Company shail throughout the said term be used ))y botli Companies and shall accorJ- injjfly on the date heioinafter fixed for the coming into oi>eration of this Agreement be placed and through- out the said term shall remain at the dis])Osition of the twoCfjmpanies and subject to the control of the Executive Committee as herein provided. 3. A full inventory arranged according to convenient classes and divisions and a just appraisement and valua- tion shall be made of all tlie locomotives and other rolling stock vessels ecjuipment plant stores tools and other moveable {)r(»perty of each of tlie Companies which shall on the date hereinafter fixed for the coming into o])eration of this Agreement be placed as herein provided at the disj)ositi(»n of the two Companies and the several things included in such inventory shall remain the pro- perty of the Company to which the same respectively belong on such date as aforesaid but shall be used without restriction for the purposes of the working arranged for by this agreement and such of the same things as are not consumed by use shall so fiir as occasion arises anil the circumstances of the case admit be maintained and kept in repair wear and tear only exce})ted and such of them as shall be consumed or worn out shall be replaced as soon as occasion arises and the circumstances of the case require by means and out of the gross earnings produced by the said working so that the whole equipment be kept up in an efficient manner and at the end of the said term such if any of the same tilings as shall exist in specie shall be restored to the Company to which the same belong and a new ai)praiser.nent and valuation shall be made of the things so restored and a new inventory divided as far as may be into similar classes and divisions and a new appraisement and valuation shidl be made of all other moveable property then at the disposition of the two Companies and the things comprised in such new inventory shall be divided in convenient shares as between the different classes and divisions and accord- 3 ing to the values set upon them in such new appraise- mentaud valuatioiibetween the two Companiesandso that each of the Companies shall be entitled to such amount in value of the things to be divided as with the value of the things so restored to such Company in specie shall be equal to the value of the things originally placed by such Company at the disposition of the two Companies any deficiency being bt^rne rateably and so that of the surplus if any each of the Companies shall be entitled to the same proportion in aggregate value as it has become entitled to of the net annual earnings produced by the said working on an average extending over the whole term. And for the making of such appraisements and valuations as aforesaid the Board of Directors of each Company shall as soon as conveniently may be after the confirmation of this Agreement as hereinafter provided and again at least three months before the exjiiration of the said term appoint in writing a valuer and the two valuers so appointed shall on each occasion before they enter upon the appraisement and valuation ai)point in writing a third valuer to whom shall be referred for final appraisement and valuation any item or items as to the value of which the two valuers so appointed by the Com- panies as aforesaid cannot agree. If the Board of Direc. tors of either of the Companies shall not within ten days after notice in writing of the appointment of a valuer by the other Company apppint a valuer on their behalf then the valuer so appointed shall enter upon and make such apj^raisement and valuation and his valuation shall have the same force and etfect as if the two valuers had been appointed. 4. In order to render more effectual and profitable the working of the Railways under this agreement as well the Railways of or connected with the Com- panies respectively as also all stations sidings buildings works warehouses elevators stationary engines fixed machinery and equipment with the appliances and con- veniences belonging thereto respectively and atiy other real or immoveable property of either of the Companies including lands leased to or held by either of the Com- panies shall so fiir as may be necessary or desirable for the workinj:^ of tlie Railways during the said term or the tlicn remainder tliei'L'of Replaced at the disposition of the two ( 'ompanies and subject as herein provided to the control of the P^xocutive Committee who shall provide out of the gross earnings produced by the working ar- ranged for by this Agreement for all out-g )ings in respect thereof and shall receive and treat as gross earnings all income arising therefrom. Provided alwavs that if and whenever any (juesticm shall arise whether any of the aforesaid particulars ought to be subject to the operation of this clause the question shall be referred to the Board of Directors of the Company to which tlic same belong whose decision sliall be accepted subject only to a refer- ence to the Keforee hereinafter provided for if required by the Board of Directors of the other Company : and provided also that none of the aforesaid particulars shall be sold or disposed of as not being necessary or desirable for the working of the Hallways except in accordance with the decision of the Executive Committee or in the event of their disagreeing then of the Keferce. Provided also that unless and until the elevator at Hamilton be- comes the property of the North Western Company or arrangements are made by the North Western Company at their own separate expense for its use by the Execu- tive Committee the Executive Committee shall not be l)ound to \vork or use the same or pay any outgoing or incur jiny liability in respect thereof but so soon as such elevator becomes the property of the North Western Comi)anv or as sucli arran'jfements as aforesaid are made with respect thereto the said elevator shall be sulyect to the })rovisions relating to other like property of the same Company. Provided also that if any lands of either of the Companies be sold the net proceeds of such sale shall not be treated as part of the said gross earnings but shall bo paid to and received or retained by tlie Company to which such land belongs. f). Out of the gross earnings to be produced by the working of the Railways and from all other the property moveable or immoveable placed at the disposi- tion of the two Com})anies shall be paid all working ex- penses as hereinafter detined and the net surplus after providing for such payment hereinafter called net earnings from time to time shiill be divided between the Companies in manner hereinafter provided. 6. Under the expression working expenses shall be included the following expenses and charges that is to say— (a) All expenses of the maintenance of the Railways stations sidings buildings works warehouses elevators appliances conveniences real and im- moveable property the subject of the manage- ment anil working arranged for by this Agreement and of the rolling and other stock machinery equipment plant and moveable property used in the working of the Hallways or any of them. (b) All rents or annual sums payable in respect of any Railways warehouses wharves or other pro- perty including land leased to or held by either of the Companies which under the provisions of this Agreement shall be subjected to the control of the Executive Committee and including such rent or annual sum as may from time to time be payable under any lease or Agreement to or with the Northern Company of or in respect to the said Railway of the North Simcoe Railway Company not exceeding eighteen thousand dol- lars per annum but exclusive of any rent royalty or other payments in respect of the user of the Hamilton Elevator unless and until the same shall be subject to the provisions re- lating to other like property of the North Western Company. (c) All expenses of and incident to the working of the raibvays and the traffic thereon including stores or consumable articles. {d) All rates taxes insurance and compensation for accidents losses and damages. 6 {e) All saliiries wages commissions and compensa- tions of persons emjjloyed in or about or for the working of the Kailways and tralHc including the expenses of tlie Executive Committee and of their Cliairman and Secretary and of the Auditors and of the Joint London Committee (if any) and of the London Agent to be ap- pointed as hereinafter provided and all legal parliamentary and all other incidental working expenses whatsoever and including also an al- lowance of two thousand five hundred dollars per annum towards the payment of the separate secretarial and establishment expenses and Di- rectors' fees of the North Western and North- ern Companies respectively (but without pre- judice to the amount which either of the said Companies may expend on this account) and all other sums whatsoever which are by any clause of this Agreement expressly authorized to be paid out of gross earnings. 7. The net earnings in each year of the said term shall from time to time be divided between the Companies in manner following that is to say — Up to the sum of eighty thousand pounds sterling in each year the same shall be appropriattid and paid as to sixty-six and a (quarter per cent, thereof to the Northern Company and as to thirty-three and three-fourths per cent, thereof to the North Western Company. After eighty thousand pounds shall have been so ap- propriated in any one year any additional net earnings of the year shall as to the next ten thousand pounds (be- tween the sums of eighty thousand pounds and ninety thousand pounds) be appropriated and paid to the Northern Company and as to the next ten thousand pounds (between the sums of ninety thousand pounds and one hundred thousand pounds) be appropriated and paid as to seventy per cent, thereof to the Northern Company and as to thirty per (^ent. to the North West- ern Company and any excess of net earnings over one hundred thousand pounds in any year shall be appro- priated and paid to tlie Northern Company and to the North Western Company in equal shares. Each Company shall apply its proportion of net earn- ings as and when from time to time received in the first place in payment of the interest due upon its bonds according to the priorities of such bonds. 8. For the better carrying into effect of this Agree- ment and arrangement there shall be appointed a Joint Committee herein called and referred to as the Executive Committee with such powers and functions as are hereby conferred upon them. 9. The Executive Committee shall consist of eight appointed members with the addition as chairman of the Managing Director or General Manager of the Northern (Jompany if not one of the appointed members. Four of :he appointed members shall be directors of the Northern Company to be appointed annually by the Directors of the Northern Company within fourteen days after the Annual General Meeting of that Company and tiie remaining four shall be directors of the North Western Company to be appointed annually by the directors of the North Western Company within fourteen days after the Annual General Meeting of that Company and the eight members so appointed shall enter into office immediately upon their appointment. The first members of such Committee shall be appointed by the Directors of the said respective Companies within four- teen days after the confirmation of this agreement and the members appointed by the Directors of either Com- pany shall from time to time continue in office until the appointment of their successors. 10. In the event of the death or resignation of any of the eight appointed Members of the Executive Committee or of his ceasing to be a Director of the Company by whose Directors he was appointed the remaining ]Mem- bers of the Executive Committee Directors of the same Company shall appoint another Director of the same 8 Company to fill during the remainder of the current year the vacancy so occasioned but the proceedings of the Executive Committee shall not be stayed or invalidated by reason of the happeningor continuing of any vacancy so long as a quorum of members remains. 11. The Managing Director or Gencal Manager for the time being of the Northern Company whether he be an appointed member or not shall be ex-officio chairman and shall if present preside at all meetings of the Exe- cutive Committee but shall not unless he be an appoint- ed member have any casting or other vote on any ques- tion subniitteil to the Executive Committee and if he be an appointed member shall vote only as the other mem- bers vote and shall not have a casting vote. In the event of the absence of the ex-officio Chairman from any meeting of the C-ommittee the members present thereat shall appoint one of their number to act as Chairman pro tcm. who shall vote only as the other members vote and shall not have a casting vote. 12. Each of the eight appointed members of the Executive Committee may by writing under his hand appoint any other a})pointed member of the committee being a Director of the same Company to be his proxy to vote for him in his absence at the meetings of the committee. 13. The Executive Committee for the time being shall have power to make bye-laws not inconsistent with the provisions of this Agreement for the regulation of their meetings and business including the appointment of sub- committees the fixing the quorum necessary for the tran- saction of business the mode of giving notices and all other matters which may be necessary or expedient for the due and convenient conduct of Lheir business but all such bye-laws shall before becoming operative requin^ to be confirmed by the Boards of Directors of tlie Com- panies respectively or in case of difference between the Boards by the lieferee as herein provided with reference to rules regulations or resolutions of the Executive Com- mittee. 14. Until by the bye-laws of the Committee otherwise prescribed the quorum for a meeting of the committee shall be five members of the committee exclusive of the Chaiiman present personally or by proxy. 15. Meetinfjs of the Executive Committee shall be held unless and until otherwise prescribed by the bye-hiws of the committee at Toronto twice in each month and may also be held at tiie call of the Ciiairman at the offices of the Northwestern Company at Hamilton or at such other place as the Chairman shall find expedient and may appoint. 16. Notice of each meeting may be given to each mem- ber of the Executive Committee by letter sent by post to an address to be given by him for the purpose and until the Executive Committee shall otherwise prescribe two days shall elapse between the posting of the notices and the day appointed for the meeting. 17. The Secretary for the time being of the Northern Company shall be and act as Secretary of the Executive Committee and the Managing Director or General Man- ager for the time being of the Northern Company shall be and act as General Manager of the Itailways and properties submitted to the control or placed at the dis- position of the two Companies as aforesaid. 18. Minutes of all proceedings of the Executive Com- mittee shall be kept and copies of aU such minutes shall forthwith be given and forwarded to the Northern Com- pany and to the North Western (-ompany for the use of the Companies respectively. 19. The Executive Committee shall have and exercise all powers and functions which shall be required for enabling them ettectually to work in accordance with rules regulations and resolutions to be from time to time made by them the Kailways and properties submitted under the provisions of this Agreement to their control and for the purposes aforesaid shall be entitled and are herebv authorised to act as Agents for and in the name 10 of the Companies respectively and may as occasion re- quires or as may be expedient treat the said Railways and properties as being worked or used by either or both of the said Companies. Provided always that no rule regulation or resolu- tion of the Executive Committee shall be deemed to be of any validity or shall be acted upon unless and until the same slnll be confirmed by the Board of Di- rectors of each of the Companies or unless and until with reference to each of the Companies a copy of the Minute of such rule regulation or resolution shall liave been given or forwarded as hereinbefore di- rected and seven days shall have elapsed from the day on which the same was so given or forv/arded without such rule regulation or resolution being dis- allowed by the Board of Directors of such Com|)any in which case the rule regulation or resolution shall be deemed to have been confirmed by such Board of Direc- tors or unless aner books of account to be kept of all such receipts and dislmrsements and of all other matters of account con- nected with the said working and shall as soon as practicable \fter the expiration of each successive period of six months from the date fixed for the coming into ojieration of this Agreement state in writing a just and true account or statement of their receipts and disburse- ments credits and liabilities in respect of the i)revious six months' working and copies thereof shall be forth- ■witli given or forwarded to the Xorthern Company and to the North Western Company for the use of the Com- panies respectively. 12 21. The Directors of the Northern Company shall within fourteen davs after the confirmation of this Agreement and thereafter in the event of the office being vacant from time to time appoint one auditor and the Directors of the North Western Company shall within the like time and in the like event appoint another auditor of the accounts of the Executive Committee and within fourteen days after the appointment of the auditor wlio shall be secondly appointed after the date fixed for the coming into operation of this agreement and within fourteen days after every succeeding appointment the two auditors for the time being shall appoint a third auditor who is to act as umpire between such auditors in the event of disagreement between them and if within such respective periods of fourteen days a third auditor be not ap[)ointed as aforesaid the Executive Committee shall appoint such third auditor and the said auditors sliall at all reasonable times and under such reasonable regulations as the Executive Committee shall from time to time prescribe have free access to all books and accounts of the Executive Committee with power to take extracts thcrefi'om and copies thereof for the use of the Companies respectively. lu the event of one auditor only being appointed in accordance with the foregoing provisions the Directors of the Company who appointed such auditor may require the other Company by notice in writing to appoint 'another auditor on their behalf and if they shall fail to make such appointment then at or after the expiration of ten days from the service of such notice the one auditor so appointed shall act for both Companies provided always that the Di- rectors of the Company in default may afterwards ap- point an auditor on their behalf but to act only in regard to the audit of accounts subsequent to such appoint- ment, 22, The Executive Committee may appoint and may from time to time remove and replace a joint agent to act fc>r both Companies in London England for all matters relating to the business entrusted to the Execu- tive Commmittee. 13 23. At the request of the Executive Committee the Directors of the Northern Company and the Directors of the North Western Company respectively may from time to time appoint an equal number of representatives in London England being respectively members of the London Committee of Directors of the Company making the appointment and shall delegate to such representa- tives such powers and functions as the Executive Com- mittee shall recommend and the representatives so ap- pointed shall act as a joint London Committee corres- ponding to the Executive Committee. 24. With a view to the settlement of any differences or disputes that may arise between the Companies and to provide a tribunal by which shall be decided any matters referred by the Board of Directors of either of the Companies as herein provided there shall be a Re- feree as hereinafter provided. 25. Charles John Brydges of the city of Montreal shall be and he is hereby appointed to be the first lleferee and shall hold the office of lleferee until the thirty-first day of Mav one thousand eight hundred and eighty and af- terwards from year to year until he shall die or resign or become incapable to act or be replaced after notice as hereinafter provided. 26. Any four members of the Executive Committee of whom the Chairman may be one may at any time being not less than three calendar months befon? the thirty- first day of ISIay m any year give notice in writing of their desire that a new Iteferee shall be appointed for the next ensuing year and thereupon the Referee in office shall cease to be Keferee on the thirty-first day of May next ensuing. 27. The Executive Committee shall in the event of any vacancy occurring in the office of Keferee or of any such notice as aforesaid being given of a desire that a new Keferee be appointed proceed to appoint by the unanimous vote of all the members voting personally or by proxy (except the Chairman in case he be not an appointed 14 member) and at a meeting summoned for tbe purpose after not less than one week's notice to all the members of the Committee a Referee to fill the vacancy or to succeed as Referee for the following,' year and such Referee shall hold office from year to year until ho shall die or resif^n or become incapable to act or be replaced at the end of any year after notice as hereinbefore provided. 28. In the event of the Members of the Executive Com- mittee votincr for the choice of a Referee beinr>' unaflile to agree in their selection the members appointed by the Nor- thern Company .shall nominate one Arbitrator and those appointed bythe North Western Companyshall nominate another and the two Arbitrators so n(miinate(l shall nomi- nate a third Arbitrator and if within fourteen days from the nomination of such one of the Arbitrators as shall be secondly orlast nominated a third Arbitrator be not nomi- nated as aforesaid either Company may apply to the Chief Justice of the Court of Appeal of Ontario for the ap- pointment by him of a third Arbitrator. And the ma- jority of the said three Arbitrators after consulting with and hearing the third shall ap})oint a Referee and the Referee so appointed shall hold office subject to the same provisions as are herein contained with reference to a Referee appointed by the Kxecutive Committee. 29. Every difference or dispute arising between the Companies touching the construction of this Agreement or any matter or thing arising out of or connected with the same shall at the refpiest of the Board of Directors of either Company be referred to the Referee for tlie time being and among other things if any Bye law of the Executive Committee shall fail to be confirmed or if any rule regulation or resolution of the Executive Committee with reference to the working of the said Railways and proi)erties shall be disallowed l)y the Board of Directors of one only of the Companies the question whether such bye-law should be confirmed or such rule regulation or resolution shall or shall not be confirmed shall at the request of the Ijcard of Directors of the other Company be referred to such Referee for the time beiuir. 15 80. The decision of the Referee for the time being on the matter or matters from time to time referred to him shall in all ca?2s be final and conclusive upon the Companies and the Executive Committee. 31. Nothing in this Agreement contained shall limit restrict or prejudicially affect the rights of any holders of Bonds charged upon any separate part of theundertakiDgs intended to be affected by this Agreement. 32. Special Meetings of the Northern Company and of the North Western Company shall be duly convened for the purpose of confirming and ratifying this Agreement and in the event of the same not being confirmed as re- quired by the Statutes in that behalf made and provided the same shall be of no effect and in the event of the same being so duly confirmed this Agreement shall come into operation as from the first day of June one thousand eight hundred and seventy-nine or the first day of the month next ensuing after the month in which the last of such Special Meetings as aforesaid may be held which- ever shall last happen. In Witness whereof the said parties hereto have caused their Corporate Seals to be hereto affixed.