IMAGE EVALUATION TEST TARGET (MT-3) 1.0 1.1 ■tt tti 12.2 £ |£ 12.0 ■1.25 ■twu ■♦ HiologFaphic .Sciences Corporation 23 WfST MAIN STRHT WltSTIR,N.Y. MSM (716)I72-4S03 M .V '^ '>^ ^ CIHM/ICMH Series. CIHM/ICMH Collection de microfiches. Canadian Instituta for Historical IMicroraproductiont / Inatitut Canadian da microraproductions hiatoriquaa 1?Q ^• Technical and BibMographic Notaa/Notas tachniquas at bibliographiquaa Tha Inatltuta hi*? attamptad to obtain tiM boat original copy avaiiabia for filming. 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Lorsque le document est trop grand pour Atre reproduit en un seul clichi, il est f ilmA A pertir de rangle supArieur gauche, de gauclie i droite, et de iMut en bcs, en prenant la nombre d'images nAcessaire. Les diegrammes suivants illustrent la mithode. 1 2 3 32X 1 2 3 4 5 6 ] Canak REP( SOUl PGIMTEI PBOSPECTUS OF THE Canak Iran fining ^ SPlanuf 'g €a. TOSKTHKB V.'ITR REPORTS ON THEIll PROPERTY, SITUATED IN HULL, CANADA EAST, AND SOUTH SHERBBOOKE, CANADA WEST. X m inixnU PRINTED BY J. C. BEOKET, 84 GREAT SAINT JAMES STRKET, 1866. I < i iV ^ .•< ^1 ■|r- 33Z z% xs oiro m « . JOHN KEDPATH, EHq., I'rr.whnt. DAVID BROWN, Khm,, Vive- resident. THOMAS WATSON. Ksq., 3/^///«i,'mi: 7;/rw/or R. JAMES REKKIh:, Ivsm. JOHN V Mclennan, i^^Ht^. « E. M. HOPKINS, Et^ci. II. W. SHEPHERD, Ymx. JAMES COURT, Ekm., finrf.turi^. Mkssrs. R0S1-: & RITCHII^:, tiuluUors, The bank of MONTRIOAL, 7iscrihi'd till dalu* 1,000 AOO 100 100 lUO 400 80 100 200 200 50 100 100 200 500 i250 100 200 60 2,000 250 500 7,080 Amoum. «25,000 12,500 2,500 2,500 2,500 10,000 2,000 2,500 6,000 5,000 1,250 2,500 2,500 5,000 12,500 6,250 ' 2,500 5,000 1,250 50,000 6,250 12,500 $177,000 I T CANADA Jr0tt piniug Bud Panufaftttring 0(0. PROSPECTUS. The existence of vast deposits of Iron Ore of the very finest description, occurring in the Laurentian rocks of Canavia, has been long recognized ; public attention having been in various ways directed to the fact by the officers of the Geolo- gical Commission since its first appointment in 1843. With one exception, no attempt has been made upon an adequate scale to render these deposits available by smelting the ores ; and in the instance referred to, although the quality of the manufactured iron is unexceptionable, the distance from the mines to the furnaces, and thence to the port of shipment, together with other circumstances unnecessary to be here detailed, have hitherto greatly obstructed the development of this branch of industry at that particular locaUty. Some of the Canadian Iron Mines have also been worked to a considerable extent for the purpose of exporting the ores to Ohio and Pennsylvania, where they are highly prized for improving the quality of the native ores. The best practical evidence of the superior quality of the Canadian iron ore is thus afforded from the fact of its bearing the expense of d, long lake voyage and land carriage, and still yielding a good profit to the miner. According to Sir "William. Logan, the total amount of ore thus shipped from Kingston up to 1860 was about 15,000 tons. i\ •;. I 4-' f I ■I At thi; present time, a combination of favourable circum- stances leads to tlie belief that the business of mining and smelt- ing tlie iron ores in the Province on an extensive scale, and by means of astrong and well-organized Joint Stock Company, will be a most properous and lucrative one. The general financial prosperity of the country — the impetus which political events have recently given to native industry — the steadily increasing i^rice of imported iron jn all its forms— the labour- saving improvements which have of late years been intro- duced into its manufacture by the progress of invention — all point to this as a liighly promising lie\d of enterprize in Canada. Nor is the want of coal in the Province an objection, as may at lirst sight appear ; for the materials for making charcoal exist in abundance near the mines ; and it is well known that iron smelted with charcoal, commands a much higher price than that manufactured with mineral fuel. It is an established fact that, in many of the States of the Union, an inferior description of ore has for many years been smelted with wood chaicoal ; and that in Norway, Sweden and Russia, the same kind of ores which Canada possesses in inexhaustible abundance are manufactured with charcoal, and produce the linost iron in the world. In prosecution of the objects above stated, the present com- pany has been established, for the purpose of mining, smelting and manufacturing iron at the townships of Hull, near Ottawa in Canada East, and South Sherbrooke near Perth, in Canada West. As the basis of operations, certain lots of land situated in these townships have been secured. These locations, which are very favourably situated as regards supplies of fuel and facilities for transportation, have been proved by extensive explorations to contain unlimited supplies of the richest iron ore, lying immediately at the surface, and consequently capable of being worked in the most economical manner. The accompanying Maps shew the position of the proper- tibs respectively ; which consijst of the following lots of land viz:-— rr ^ * Ji M ^ It u> M HULL. No. 1. Lot 11 in tho 7th Con., containing 200 acres. SOUTH SHERBROOKB. No. 2. Lots 19 and 20 in tho 2n(l Con,, containing 108 acres. 41 " 200 " 169 " 100 " " 160 " *" 200 " 100 " (( 3. Lot 16 . »( 2nd It • (( 4. " J7 tt 3rd 11 ;ht of way, and all the usual privileges accorded in the conveyance of mhiing property. Tho lot in Hull, C. E. on which the mine is situated is 2J miles from tho River Uatineau, a navigable tributary of the Ottawa, and six miles from Ottawa City. A lot of land being part of lot 3 in th(». 0th ConcesKion, and containining about ten acres, has also been secured for the use of the company, for the conve'nience of erecting smelting works, factories, wharves, storehouses, offices, &c. The lots in South Shorbrooke, are situated on, and im- mediately near the banks of Meyers' Lake, an extensive sheet of water, the distance from the Rideau Canal being about eight mil(;H, and from the Perth station of the Brockville and Ottawa Railway about ten miles. With respect to the capabilities of these several properties for the object in view, the following Reports and Extracts are submitted. EXTRACT FROM SIR W. LOGAN'S GENERAL REPORT FOR 1861, pagos 678, 674 " A largo deposit of iron ore ii met with in the soathem half of the cloventh lot of thu seventh range of llull ; it is said, to have been met with again a mile beyond, in the rear of the twelfth lot of the same range. The ore occurs in syenitic gneiss, which is interstratilled with white chrystalline lime* stone holding loica and graphite ; and forms a bed about ninety feet in thickness. This seems to be brought to the surface on the crown of an anticlinal, through which an underlying bed of chrystalline limestone appears, Th<> ore is coarsely granular and very pure, but is* in some parts mingled with scales of graphite. An analysis of what was deemed an average specimen gave for one hunTlrod parts 8,18 of quartz and gra- phite, and 96.09 of magnetic oxide of iron, 09.27, This equals 69.65 per cent of metallic iron. " In 1854 this deposit of ore was opened by Messrs. Forsyth & Co, of Pittsburgh, Pennsylvania, ibr the supply of their furnaces at that place, where it was used in connection with the iron from the ores of that region. It was shipped by the Rideau Canal to Kingston, and thence by tVie Lakes to Cleve- land. Up to 1858, about 8000 tons of the ore had been thus exported." t ^» A EXTRACT FROM THE CANADIAN NATURALIST AND OKOU)(1I8T. Vol. II. page 23, * The article from which this in extracted, is contributed by Mr. E. BILLINGS, of the Geological Commission.) " At the Hull Mine, situated five miles from the City of Otta- wa, the ore-bed is 100 feetin thickness; and contains, according to the analysis of Dr. Hunt, nearly 70 per cent of pure iron. When this bed of ore was supposed to be only 20 feet in thickness, Sir W. Logan estimated that it would yield for every fathom forward and df»wnwnrd from 60 to 60 tons of pure metal. (Report of 1845- 6, page 76). But this bed is now ascertained to be 100 feet, (more of it boinipf cxponed by the process of mining), and consequently the yield will be five times as^eat, or from SftO to 300 tons per fatliom. The distance to which it may be W')rked cannot be ascertained. A« a general thing, veins of ore have never been traced to their termination, and no doubt this bod underlies the country for mr ly miles in one continuous sheet. It is not a vein, filling up a perpen- dicular fissure in the earth's crust, but a bed lying between the strata of the formation. "Where it is expoBod it forms a dome and dips away in all directions. IIovv far it extends cannot be ascertained ; but granting that 500 fathoms is its limit each way, then it would contain 250,000,000 tons of iron. EXTRACT FROM SIR W. LOQAN'S REPORT FOR 1863, With reforcuoo to the South Shcrbrooko Locations, page 674. " On the fourteenth lot of the first range of South Sher- brooke a bed of twelve feet of magnetic iron ore occurs in gneiss. A few hundred tons of it have been raised, and it has been used with advantage in lining the hearths at Mr.Gzowski's iron works at Toronto. A largo deposit of this ore is also said to occur on the north shore of Myers's Lake, in front of the seventeenth, eighteenth and nineteenth lots of the third range of this township. These lots lie nearly to the north of the last, and the bed, which according to Dr. Wilson of Perth, has a thickness of about sixty feet, may be a continuation of that just mentioned. A specimen of the ore from this locality was fountl to contain 63.0 per cent of metallic iron, equ; I to 87.0 of magnetio oxide, and 12.1 of insoluble quartz and micu ; 99.1." According to Mr. Bilhngs' estimate, as given in the article formerly referred to, the amount of pure iron contained in the Sonth Sherbrooko deposits, so far as then open-^d up, is 100, 000,000 tons. Since the date at which these accounts were written, further developments have been made by explorations at both places, fully confirming the importance and extending the area of the deposits. The points at which the principal 8 II -I : work has been done, and most ore extracted, are indicated by the dark shading on the maps. At the Hull mine, where, on account of the geological structure adverted to by Sir WilHam Logan, the facilities for mining are unusually great, a face has been exposed on the front of the lof and test pits liave been opened on many other parts of it, fully estabhshing the extent of the bed. At the point where the principal work has been done, a face of at least 80 feet in depth may be obtained with very little cutting ; while still preserfing, for the purpose of keeping the mine clear of water, a height of 50 feet above the drainage level. During the last three months, over 5000 tons of ore have been taken out by quarrying — rather than mining — with little labpur, and ai small cost. At South Sherbrooke the quantity taken out has been less, as operations hate been chiefiy confined to ihe determination of the superficial extent of the deposit, which has been satis- factorily established, and is believed to underlie the whole of the lots secured by the Company. An experimental ship- ment to the extent of 200 tons of the ore extracted from lot 19, in the 3rd concession, has been recentlymade to Cleveland, where it has given the highest satisfaction to the smelters. At the London Liternational Exhibition of 1851 the first prize for magnetic iron ore was awarded to that from Meyers's Lake, thus proving the high rank which i^ holds in Britain. In the event of establishing smelting furnaces or factories at South Sherbrooke, there is an excellent water privilege in the immediate vicinity of the mines, which could be made available for giving the requisite power, &c. '.'. is worthy of notice that great deposits of hematite, or Si -jrJar iron ore, and of bog ore occur in the immediate neigh- l>.r -hood both of the Hull and South Sherbrooke. locations; ill admixture of such ores being, in certain circumstances, most advantageously emx)loycd in conjunction with the magnetic ore. Ample supi)lics of limestone for fluxing pur- poses, and of wood for the manufacture of charcoal are available at both places. i I 9 Should the supphes of charcoal become in future years less certain and easy to obtain than at present, an unfailing re- source will be found in the vast deposits of Peat, which are also situated close at hand ; and which description of fuel is now extensively and advantageously employed for smelting the finer descriptions of iron, in many parts of the world. The inexhaustible coal-fields of Nova Scotia will also, in all pro- bability, be fot"ind to be commercially available for the purposes referred to. THe following estimate of the annual expenses and profits of mining and smelting the iron ores at Hull, C. E. has been prepared with great care from data derived from actual expe- rience. It may be throughly relied on as safe, since the ex- penses have in all the items been put down at the highest conceivable figures. The calculation is based upon the pro- duction of only one smelting farnuoe; should more be em- ployed, as would most probably be the case, the profits would of course, be relatively very much greater. ESTIMATE OF THE^ COST AND FROFITS OF WORKING ONE SMELTING FURNACE AT HULL. One furnace will produce 2100 tons of pig iron annually, the cost of producing which would be as under : 4800 tons of ore at $1.50 - - - - - $7,200.00 336,000 bushels of charcoal (allowing 100 bushels to the ton of pig iron) at $4 per 100 bushels, 13,440.00 48^ tons of limestone at 60c. per ton - - - 240.00 Labour at furnace $2.50 per ton - - - - 5,250.00 Freight to Montreal at $2.00 per ton - - • 4,200.00 Cost of 2100 tons pig iron delivorod at Montreal $30,330..00 Value of 2100 tons charcoal pig iron in Montreal at $30 per ton - 63,800.00 Annual profit (carry forward) $32,670.00 e 10 Annual profit on cost of production (brought forward) Less interest on capital invested say $30,000 at 10 per cent - Exploring & stripping,- repairs of road and buildings, wear and tear of stock, &c., say 10 per cent on $20,000 - - - General management, agen- cies, discounts and contin- gencies, say .... $3,000.00 2,000.00 $82,670.00 4,000.00 9,000.00 Net Bunual profits - $28,670.00 Or very nearly sixty per cent on the total amount of capital invested. A. ESTIMATE OF CAPITAL REQUIRED FOR THE PURCHAHK OF THE MIN- ING PROPERTIES AT HULL AND SOUTH 3HERBR00KB, AND KOrt ERECTING AND SETTING IN OPERATION ONE SMELTING , FURNACE AT HULL. Mining property at Hull, consisting of 200 acres of land, with improvements Mining property at South Sherbrooke, consisting of 1058 acres of land, with improvements Expense of making road at Hull " " wharf " - - - Cost of erecting one smelting furnace at Hull with all the requisite machinery • Cost of erecting four charcoal furnaces 17,000.00 18,000.00 . 2,400.00 2,000.00 12,000.00 2,000.00 ■ I n ■ miammi f m\ i i $53,400.00 In addition to the real estate, which has been secured by the Company from the former proprietor, there are at the Hull mine; a considerable amount of plant, workmen's houses, &c., besiduH the proceeds of work done during the winter. These it is pro* posed that the company should take at a valuation ; the value of the ore excavated and stored at the shipping place, and the; • .. 11 sk' V rents received from the occupants of the dwelling houses, will fully represent the cost to be provided for in these items. From the estimates submitted — and which it will be readily in the power of any person interested to verify — it will he seen that the present is a safe, profitable and sure enterprize. The Canada Iron Mining and Manufacturing Compiuiy, which will be organized under the General Mining and Manu- facturing Act 27 and 28 Victoria Cap. 23, with limited liability I to shareholders, has purchased the above described property, and propose to take immediate steps for rendering it available by the erection of one smelting furnace &c., at Hull; and also at South Sherbrooke at as early a date as possible after the com- mencement of smelting operations at the first named locality. The Capital Stock is $300,000, divided into 12,000 shares of $25 each share. A first instalment of $5 per share to be paid in on allotment, which will yield a capital of - !|60,000.00 Deducting cost of property and expense of erecting furnaces as per above statement - - 53,400.00 Surplus $6,600 A considerable proportion of ihe purchase price may be allowed to remain on the lands, which sum, together with thf- above balance, will constitute an ample working capital until the works become self-sustaining and productive. The former proprietor will retain an interest in the pro- perty, to the amount of one-sixth of the total nominal capital. Having thus far developed it to the extent of hie means, he thereby shows his confidence in the business ; and has been prevailed upon to transfer his interest to this Company only by the assurance he entertains of larger jirofits being made when the full value of the property shall be developed by by sufficient cai)ital. ; "- ' * " *fi^rl ? i> "-*■■ '" ' * * • - "^>S-v?**Sj8(p.-^PA^'-JMi*-H^, .;^.; "^^ U- K" S tal. IffTM Oiitincau f/ ty i^CAun/,' T Fi M P Xl 15 \!^<-^ ^ '^dia'kop k\v 1? I 60 40 &0 Seal 60 2io6erfs * Xeii J, ^B O F V ton Illmttt0 lirratians ) I sr WI.Ii CANADA EAST The Pi'operty of the (»\NADA^IRON MINH^ CO. TJte C(t,^. a-opcr/}' r/r/fokd 6y Iht red r/itt. M p x< 15 T o :n^ .* I^x itt I - '\ 4? Scale of Miles . Jio6erts k Xtinhold. liifio. Montreal. aBBBBIBflHnKS JJ0 Ctu'ii. J^MtU$ ^ CMA? Jioas Mining Enginetr .^, 14? 13 ia ii r y^ ^ O P :' >V ) I 3ff ¥lili CANADA EAST . 3 Tlie Pioperiy of tlie CANADA IRON m11(6^^M^ CO. ^ 320 Chins. kXtUs CMAt nOMM Mining Snginttr. \: - I ^ ^ V ■\ :N0KTH C1I05BT B tr K O K S 8 , j^yari^fcjH^ jj»j2g^^^ / > L A X > O F V n X mi ; ' ) I K cJTCT'lc?'^ cii^oi CANADA WEST. ^"y - The Pioperly of Ihe CiiNADAIRON MlNiNQ''*MANUF'G CO ?'//{' (oH Proptrn- i/e/fofe// 6/ ///r m/ f/z/t. l)/sift/ne fhmi Mevcr.v Lake fo f\iflefjn Cana/.^ Mi/es . »S c €il«> «»r Chnin s . ^ <^^ K s s , J^oii r/.i ,■■■ h',tnA ^ *f',-io , no ^ W ^ ^ /j^ '/fr/ , /l^/tf> Jfo,///-fa/ r/f.^S' ROBli. .)ftnfnff f^/mttifC/- nywiwuiMta 5j« k Miles HMNm CMA¥ nOMH Mining Engi/ietr I OHARTC or TtIB Pontveat frou fining & p»nuf actudnj) Compattjj. (Signed) MONCK. li.N. VICTORIA, by the Grace of God, of the United Kingdom of Great Britain and Ireland, Q UEEN, Defender of the FaitK dr., (fee, five dollars ; that the amount of stock subscribed is one hundred and fiAr thousand doUars ; that the amount to have been paid in before the granting of suoh diarter was thirty thousand dollars. * AlH) WHERE! AS it has been proved to the satisfaction of Otir Qo- vexior in Council, that the said applicants have complied with all the requirements of the said Aot, as to matters preliminary to theiisueof Letters Patent. NOW KNOW YE, that by and with the advioe of our Executive Council, of Our Province of Canada and under the authority of the herein- before in part recited Statute and of any other power or autiiori^ whatso- ever in Us vested in this behalf, We do by these Our Letters Patent con- !»titnte the said Robert Janies Reekie, Duncan McDonald, David Brown, Warden King, James Allan, Henry Bulmer and Thomas Watson, and all and every such other person or persoos as now is or are or shall at any time bereaAer become shaieholders in the said Company, under the provisions ofthe said Act, and the by-laws made under tbe authority thereof, and thmr SttcoesBors, a body corporate and politic with perpeUml sneoession and a oommon seal by the name of <* The Canada Iron Mining and Manu- ^pw. ^. k 1 f t * fiMtariiig Conpuiy," ud e^Ue fbrtbwith of eiereifiiig til tlM feaettooi of an ineorporftted Comptny, u if inoorpontted by « ipedtl Act of Ptelift> maiiiy ud by their oorponte name of luiog ud being sned, pleeding end being impleaded in tU Ooorts whether of law or equity. With rowRK to the said Company to mino fbr iron and other metal* and holders, in general meeting of the Company juriwmbled, at such times, b Much wise, and for such term, OS the By-laws of the Company may pre- Boribe. 5. In default only of other express provisions in such behalf, by the B;*law8 of the Company, — (a) Suoh election shall take place yearly, all the members of the Board retiring, and (if otherwise qualified) being eligible finr re-election. (6) Notice of the time and place for holding general meetings of ' Company shall be given at least ten days previously thereto, in ^ newspaper published at or as near as may be to the ofiioe or ohief pic- business of the Company. [c] At all general nieetings of tlie Company, every Shareholde be entitled to as many votes as he owns sharos in the Companyi ar vote by prtxy ; Id] Blectiotts of Directors shall be by ballot. fe] Vacancies occurring in the Board of Directen may be :.lf X^ unexpired remainder of the term, by tlio Board, from among the qut- lified]|Shareholders of the Company. {/] The Directors shall from time to time elect from among them- selves a President of the Company ; and shall also name, and may remove at pleasure, all other oflSccrs thereof. 6. If at any time an election of Directors be not made or do not take •effect at the proper time, the Company shall not be held to bo thereby dissolved ; but such election may take place at any general meeting of the Company duly called for that purpose. 7. The Directors of the Company shall have full power in all things to administer the affairs of the Company, and may make or cauie to b<^ made for the Company any description of contract which . the Company may by law enter into ; and may irom time to time make By-laws not contrary to law, to regulate the allotment of Stock, the making ofoulli^ tbeiepn, the payment thereof, the issue and regigtration of certificates of Stock, the forfeiture of Stock for non-payment, the disposal of forfeited Stock and of the proceeds thereof, the transfer of Stock, the declaration and payment of dividends, the number of the Directors, their termn of service, the amount^ of their Stock (qualifications, the appoiutraoiit, func- tions, duties and removal of all agents, officers and servants of the Company, the security to be given by them to the Company, their re- muneration, and that (if any) of the Directors, the time at which and the place or places where the Annual Meetings of the Company shall be held, and where the business of the Company shall be con- ducted, and if the Company be a Mining Company, one (or more) of such places may be without this Province, — the calling of Mcsct- -^ings, regular and special, of the Board of Directors, and of the Company, the quorum, the requirements as to proxies, and of the procedure in all things at such meetings, the imposition and recovery of all penalties and forfeitures admitting of regulation by By-law, and the conduct in all other particulars of the affairs of the Company ; and may from time to time repeal, amend, or re-enact the same ; but every such By-law, and every repeal, amendment or re-enactment thereof, unless in the meantime eon ■ firmed at a General Meeting of the Company duly called for that pur- pose, shall only have force until the next Annual Mecti":g of the Company, and in default of confirmation thereat, shall, from that time only, coa«o to have force. 8. A copy of any By-law of the Company, under their seal, and pur- porting to be igned by any Officer of the Company, shall be received as V. ¥ L- it i 17 -iii^ prima /ode evidenoe of such By-law in ail Coarts of Law or Equity in this Province. 9. The stock of the Company shall be deemed persoaal estate, and shall be transferable, in such manner only, and subject to all such con ■ ditions and restrictions as by the Letters Patent, or by the By-laws of the Company, shall be prescribed. 10. The Directors of the Company may call in and demand. from the Shareholders thereof, respectively, all sums of money by them subscribed, at such time and places, and in such payments or instalments, as the By- laws of the Company may require or allow ; aiid interest shall accrue and fall due, act the rate of six per centum per annum, upon the amount of any unpaid call, from the day appointed for payment of such call. 11. {Omitied on the petition of the applicants pursuant to section six of the Act aforesaid.) 12. The Company may enforce payment of all calls and interest thereon, by action in any competent Court ; and in such action it shall not be necessary to set forth the special matter, but it shall be sufficient to declare that the Defendant is a holder of one share or more, stating the number of shares, and Js indebted in the sum of money to which the calls in arrcar amount, in respect of one call or more upon one share or more, stating the number of calls and the amount of each, whereby an action hath accrued to the Company under this Act ; and a certificate under their sejil, and purporting to be signed by any officer of the Company, to the effect that the Defendant is a Sh eholder, and that so much is due by him aud unpaid thereon, shall be ceived in all Courts of Law and Equity as prima facie evidence to that effect. *13. If, after such demand or notice as by the By-laws of the Company may be prescribed, any call made upon any share or shares be not paid within such time as by such By-laws may be limited in that behalf, the Directors, in their discretion, by vote to that effect, reciting the facts and duly recorded in their minutes, may summarily forfeit any shares whereon such payment is not made ; and the nme shall thereupon become the property of the Company, and may be disposed of as by By-law or otherwise they shall ordain. 14- No share shall be transferable until all previous calls thereon have been fully paid in, or until declared forfeited for non-payment of calls thereon or sold under execution. 15. No Shareholder being in arrear in respect of any call shall be entitled to vote at any meeting of the Company. • 18 16, 17, 18, (Omitted on the petition of the applicantt purswmt to aection six of the Act a/oretaid.) 19. The Company shall oaase a book or books to be kept by the Secre- tary, or by some other Officer specially charged with that duty, wherein shidl be kept recorded — 1. A correct copy of the Letters Patent incorporating the Company, as also of any and every By-law thereof. 2. The names, alphabetically arranged, of all persons who are or have been Shareholders. 3. The address and calling of every such person, while such Share- holder. 4. The number of shares of stook held by each Shareholder. 5. The amounts paid in, and remaining unpaid respectively, on the stook of each Shareholder. 6. All transfers of stock, in their order as presented to the Company for entry, with the date and other particulars of each transfer, and the date of the entry thereof; and — 7. The names, addresses and calling, of all persons who are or have been Directors of the Company ; with the seversJ dates at which each be- came or ceased to l(e such Director. 20. The Directors may refuse to allow the entry into any such book of any transfer of stock whereof the whole amount has not been paid in ; and no transfer made with the view of relieving the transfer from pre- existing debts of the Company, shall be valid or prevent any antecedent creditor from exercising his remedy against such transfer in the same way as if he had continued to be a Shareholder in such Company ; provided that nothing in this sub-section shall prevent the effect cf chapter seventy of the Consolidated Statutes of Canada, as regards any such stook seized and sold in execution. 21. No transfer of stook shall be valid for any purposes whatever, save only as exhibiting the rights of the parties thereto towards each other, and as rendering the transferee liable ad interim jointly and severally with the transferror, to the Company and their creditors,-— until entry ttiereof has been duly made in 5uch book or books. 22. Such books shall, during reasonable business hours of every day, except Sundays and obligatory holidays (Jites d'ohligation), be kept open for tiie inspection of Shareholders and creditors of the Company, and their personal representatives, at the office or chief place of business of the Com- * i. nt to eore- srein have hare- a the pany I date have ihbe- « book i in; pre- dent same irided renty eized ever, ther, with ereof lay, open their jom- # 1» pany ; and every such Shareholder, creditor or repreaentative, may make extracts therefrom. 23. Such books shall he primd facie evidence of all facts purporting to be thereby stated, in any suit or proceeding against the Company or i^nst any Shareholder. 24. Every Director, officer or servant of the Company, who knowingly makes or assists to make any untrue entry in any such book, or whorefiises or neglects to make any proper entry therein, or to i aibit the same, or to allow the same to be inspected, and extracts to be taken therefrom, shall be liable to a penalty not exceeding twenty dollars, for making each such untrue entry, and for each such refusal or neglect, and also for all loss or or damage which any party interested may have sustained thereby. 25. The Company shall not be bound to see to the execution of any trust, whether express, implied or constructive, in respect of any shares, and the receipt of the Shareholder in whose name the same may stand in the boqks of the Company, shall be a valid and binding discharge to the Company for any dividend or money payable in respect of such shares, and whether or not notice of such trust shall have been given to the Com- pany ; and the Company shall not be bound to see to the application of the money paid upon such receipt. 26. Every contract, agreement, engagement or bargain made, and every bill of exchange drawn, accepted or endorsed, and every promissory note and cheque made, drawn or endorsed on behalf ^of the Company, by any agent, officer or servant of the Company, in general accordance with his powers as such under the By-laws of the Company, shall be binding upon the Company ; and in no case shall it be necessary to have the seal of the Company affixed to any ajich contract, agreement, engagement, bar- gain, bill of exchange, prombsory note or cheque, or to prove that the game was made, drawn, accepted or endorsed, as the case may be, in pur- suance of any By-law, or special vote or order : nor shall the narty so act- ing as agent, officer or servant of the Company, be thereby subjected indi-. vidually to any liability whatsoever io any third party therefor ; pr?)vided always, that nothing in this section shall be construed to authorize the Company to issue any note payable to the bearer thereof, or any promissory note intended to be circulated as money, or as |he note of a Bank. 27. Each Shareholder, until the whole amount of his Stock has been paid up, shall be individually liable to the creditors of the Company, to an amount equal to that not paid up thereon ; but shall not be liable to an action therefor by any creditor, before an execution against the Company has been returned unsatisfied in whole or in part ; and the amount duo so on inoh execution shall be the amount reooverable, with costs, against sabh Shareholders. 28. The Shareholders of the Company shall not as such be held re- sponsible for any act, default or liability vrhatsMver, of the Company, or for any engagement, claim, payment, loss, injury, transaction, matter or thing 'whatsoever, relating to or connected with the Company, beyond the amount of their respective shares in the capital stock thereof. 29. No person holding Stock in the Company as an executor, admin- istrator, tutor, curator, guardian or trustee, shall be personally subject to liability as a Shareholder, but the estates and funds, in the hands of such person) shall be liable in like manner, and to the same extent, as the testator or intestate, or the minor, ward or interdicted person, or the per- son interested in such trust fund, would be, if living and competent to act, and holding such stock in his own name ; and no person, holding such stock as collateral security, shall be personally subject to such liabi- lity, but the person pledging such stock shall be considered as holding the same, and shall be liable as a Shareholder accordingly. 30. Every such executor, administrator, tutor, curator, guardian or trustee, shall represent the stock in his hands, at all meetings of the com- pany, and may vote accordingly as a Shareholder ; and every person who pledges his stock may nevertheless represent tho »ame at all such meetings, and may vote accordingly as a Shareholder. 31. If the Directors of the Company declare and pay any dividend when the Company is insolvent, or any dividend the payment of which renders the Company insolvent, or diminishes the capital stock thereof, they shall be jointly and severally liable, as well to the Company as to the individual Shareholders and creditors thereof, for all the debts of the Company then existing, and for Jail thereafter contracted during their continuance in office, respectively ; but if any Director present when such dividend is declared do forthwith, or if any Director then absent do within twenty-four hours after he shall have become aware thereof and able so to do, enter on the minutes of the Board of Directors his protest against the same, and do within eight days thereafter publish such protest in at least one newspaper published at, or as near as may bo possible to, the office or chief place of business of the Company, such Director may thereby, and not otherwise, exonerate himself from such liability. 32. No loan shall be made by the Company to any Shareholder, and if such be made, ail Directors and other officers of the Company making the same, or in any wise assenting thereunto, shall be jointly and sever- ally liable to the Company for the amount of such loan, — and also to third hf 0^ 31 or ii¥ parties, to the extent of suoh loan w. h legal interest,— for all debts of the Oompany contracted from the time of the making of suph loan to that of the re-payment thereof. 33- Any description pf action may Ic prusooutod »nd maintained between the Company and any Shareholder thereof, and no Shareholder, not being himself a party to suoh suit, shall bo incompetent as a witness therein. 34. The Charter of the Company shall be forfeited by non-user during three oonseoutiye years, at any one time, or if the Company do not go into actual operation within three years after it is granted; and no declaration cf such forfeiture by any Act of the Legislatore shall be deemed an infringement of such Charter* IN TESTIMONY WHEREOF Wo have caufed these Our Letters to be mado Patent, and the Qreat Seal of our said Proyinee of Canada to be hereunto affixed : WITNESS, Our Right Trusty aud Well-Beloved Cousin the Right Honorable Chaklks Stanley Visooont Monok Baron Monok of Ballytrammon, in the County of Wexford, Gorernor General of British North America, and Captain General and GoTornor in Chief in and over Our Provinces of Canada, Nova Scotia, New Brunswick, and the Island of Prince Edward, and Vice Admiral of the same, Ac, &o., &o. At our Government House, in Our "ITY OF OTTAWA, in Our Said Province, this Fourteen tb Day of April, in the Year of Our Lord, One Thousand Eight Hundred and Sixty Six, and in the Twenty Ninth of Our Reign. By Command, (Signed) E. PARENT, • Atsieiant Secretary. * OJOLMtaWa Bfllwlo BBSHTa]!^® AND MANUFACTURim COMPANY. ^<^w»Mw»»^^^> >^t*^nf^^^^v ii<^»»»^ ^ « 1. The Directors of the Company shall be seven in number, and shall be chosen annually from among Share- holders holding stock individually and not in trust or in any representative capacity to the amount of $2500 : three Directors shall form a quorum. The Directors shall elect from their number a President and Vice-Pres- ident, and may also name one of themselves to be a Managing Director with such powers as they may see fit to confer. 2. A Secretary, whose duty it shall be to see that the Books of the Company are kept as required by Law, shall be appointed by the Directors and may be removed by them. 3. The common Seal shall be the representation of a Blast Furnace in operation, the border surrounding the same, to contain the words and figures following, *' The Canada Iron Mining and Manufacturing Company, 1866." The Seal to remain in the custody of the President for the time being. 4. All money belonging to or in the hands of the Company shall be deposited with the Company's Bankers, and shall not be withdrawn except on Cheques signed by tbie President, or in his absence by the Vice-President, ox in the absence of both ^y such Director iis may be appointed for that purpose, and countersigned by the Secretary. ,