IMAGE EVALUATION TEST TARGET (MT-3) M/. ^ ^.% ■ il) •/•zft-^ /', PR08rp]CTU8. COBOURG & PETERBOROUGH. AND RAILWAYS. TI.e Cobourj,' and Pcte^boro.i-h liailwuy in Wester.. Canada was construe*e.4 in 18o3, by Messieurs Zimmerman and Bal.sii, and connects tiie towns of Cobouru and Peterborough. Cobourg is a Town d" about 5,0(»0 inhabitants, pleasantly situated on the north sl>.,re of TiJikc iViii: ■itlif Vi'ee Uiver. The village of Ashburnham lies opposite on the east side, heuig the terminus of the Railway. ' Peterborough is the centre of a large tract of cultivated country, and possesses great manufactunng facilities. The water power ot the Otcnabee is unHvall-d =u,d more than a dozen splendid n.ill sites still lie unoccupied within the limits'or the town. Northward ol Peterborough, for ma.y n.iles, the river presents a series wsmam*ma C 2. o \ I I |UiU/(f.^ m 1 3 1''^ ■.ii/. T nilWMii ] 2. of rapids and mill sites, with an unlimited supply of water at all seasons of the year. The Otonabee connects with an extensive chain of Lak«s, surrounding which and their tributaries exist vast and inexhaustible groves of valuable pine timber. At Peterborough half a dozen fine saw mills cut about 25,000,000 feet of lum- ber annually, and have capacity to cut twice that amount. This great lumber business has be n developed by the Cobourg & Peterborough Railway. Previous U) its construction not more than 1,000,000 feet was annually exported. Large qa.int!ties of square timber for the Quebec market are also obtained from the pine Itnidi north of Peterborough, and floatea down the Otonabee River. The Cobourg and Peterborougii Rj'ilway, 28^ miles in length, was constructed at u cost of !{< 1, 100, 112. Of this sum, the iron and chairs cost $200,000; the rigiit of way and station buildings, ^i85,0()0 ; the excavation and embankment $225,000. ' Tiie gauge, like that of all Canadian roads, is o feet C> inches. The iron on the line is of very superior quality, 56 lbs. to the yard. The chairs are also of the very best description. The soil on the line of Railway in the Township of Hamil- ton is sandy, and makes a good road bed. In the Township of Otonabee the soil is clay, an.l tlic line partially ballasted. The excavation and embankment averages '2(»,000 cubic yards to the mile. There are no bridges of consequence on the line, other than the one across Rice Lake, which is situated about mid distance between Cobourg and Peterborongh. The Lake is two and a half miles wide and 25 miles long, The Railway was carried over the Lake on a pile and truss bridge, 2^ miles in length. This bridge was well built, but totally unsuited to the locality. It was ^^-^-^^- '•''"' -'"■" <•*• l«^7 aniounted to ^MiK Uw.ng to the damages sustamed by the Bridge, tl. trade was diverted to .the h nuels dunng the two following years, and since then the road h..s been but p '^'W'O iuiH)K!i SMis eainoa over t e r'txl i , ■ •■ ,. , Tbo nrc-.i'tt ti :■{<- •■■ Pi.inl.,,- ■ I ... .t,...,i!vH... '-'- .'.1. --l,,l...ulK>ven.run.s.andis , T, ■ '■ ' •''M'''''-"" ■ •■■^'•vier.-ib!e H.'i.ire will Kmlw;.^, wh.ci. eui^ht b« gr.:U, ■ ' - !, : ,.„„Maena,i. ,,a.uaitie. of c<..dwM,d the lake The extensive Flouring Mills at Keene ,md Hastings furnish their quota c^ re;ght to the road, while the saw .nills of tiores J.anding. Bewdly Land- mg, and 'Jrook s Ruptds, and the ( honabee, flo.t large quantlties^.f hunb.' 1 Harwood Station on the lake. The principal cause of the en.barra.ssn,ent of the Railway is to be attributed to ^etTTn : *"'" "i"'^" ^'''''- ''' ""^^"•^''' -^''"-->^ blunder shou have been subs .tuted an en,bankn,en., which as has been proved could have been made at one half the expense. ): Altliougli the cri-or was onr\y -liscoverod, anil ii vig.)rou8 effort was for n time iiimie by the (,'onii, to fil! in tli.' Bridi^t, tho result of whicli was highly satis- fuetory itiitl oi.c.ii.i.i ,itij,', yot for Witiit of ficids, and tho to«al ..uspenHion of trnffic •111 thi' Koad, if wiih f,»uiid iinposMib'e to complete the work. T\w. conHtruction of 11 brunch rnilwiiv connecti.ig Peterborough witii the Port H pe it Lindsny Rail- way, in tlie uii'Mi,,iine supplied the Pcterboro" carrying irnde, a very large projKir- tioM of which would return to (Jobourg road on the reconat. i ion oi' the Kridffo. The (Joinpany becmne emburrussed. and consented ,.i. Act of I'arliitnent whereby the road was hinded over to the Bondhol Jers. These creditors, who iield ^, who.xe >*toek is reduced to one fourth the original amount (or SIHK.OOO. ) By an Act of I'arliament passed at the same sessioL, (.September, 18t)5,; the proprietors of the Marmora I-o.i Works were auihorized to amalgamate with the Cl)^ourg Railway Company, in such a mannfr and on .«neh (erm- as a majority of each company siioul''. deem fit. The Marmoi-a Coj-^pany own 23,000 icros in 'he Townships of Mam. a, Belmont, and liake These townships lie contiguoa to each o-hcr, and exteim to the navigable waters of the River Trent, (the outlet of Rice L.ke.) The company's lands in Jiike comprise 18,0o() acres, and are reported to be rich in Copper. Lead, and Plitinum. These lands are genendly well wooded. The lands in the Township of Marmora comprise 5,020 acres, on some of which exist vast bed« of Iron ore. .^ir W iUiani Logan, the eminent Provincial Geolog- i.st. s,.ys-in his work on th logy of Canada published in 1863. " that on the, ■' north siu' of Crow Lake, aoout three hundred yards from the shore, on the 12th •' lot of the ;5rd concession of Marmora, magnetic iro:. cje is met with, thickly •• imbedded in a pule green epidotio rock. An opening which has been made here " ctposes a brea " larly disscminateJ in lumps and masses, running with the stratification, which is " nearly east and west, apparently with ;i southward dip. The bed was traced for " about 300 yards to a clearino;, where it terminates in a sharp cliff. Portions of " this ore which were used at the Marmora furnace were said to have been of " excellent quality, and it is very irce from pyrites. The coui-se of this bed west- " ward would carry it to an intersection with the north westward course of the hW " ore bed of Belmont, next to be described, and the dip of the one being noitheast " and the other south,, it seems probable that they may be different parts of the " same bed in opposite sides of cynclinal.'' And again, " The nia"netic ore for- '' merly smelted at thi- Marmora Iron furnace was obtained from ,iic 8th lot of the " first range of Belmont. This deposit, known as tlio Ing ore bed, had usual'y •' been called 100 feet thick " It appears, however, not to be a single bed, but a succession of beds of ore, " interstratified with layers of greenish talcoid slato, and of crystalline limestone, " occupying a breadth across the strike, and back from Crow Lake, (into which it " runs obliquely,) of about .')00 feet. Serpentine, chloride, diallage, and a greenish " epidotic rock, are also met with in this as,-ociatioD. The general strike of the " strata appears to be about S. 35® E., and the slopes towards the north eastward «' from 25 ° to 50 ° . Crystalline limestone overlies the mass, and the frsi hun- " dred feet of the iron bear i fig strata sJiow a vast bulk of ore, often very nearly **purc, the upper part uf which chiefly was minrd fm- smelting. "The upper beds of ore contain an admixture of iron pyrites, from which the " lower portion of the mass is free. The ore from a layer of 13 feet thick at the " base .seems superior to tl . upper portion, but was not mined until a short time " before the wovks were abandoned. Many years ago a blast furnace was erected " at the village of Marmora, for the purpose of smelting the ore from this deposit, " and iron of a superior quality was manufactured. More i-ecently, different com- " panics have for short periods made renewed attempts to smelt the ore, with very " satipfactory results, so far as the quality of the metal was concerned. The dis- " tanrn of the place from a shipping [wrt was, however, found n serious ol>staclc " to success, %nd the furnace is fjr the present abandoned. In the vicinity of the Marmora Works, on the coupany's lands, is to be i'ound a rare and valuable bed of Lithographic Stone. Sir William Logan, in the book before referred to, says : — " There is a section of about twenty feet of light grey " limestone, which is compact with a conchoidal fracture and holds no organic " remains. There is, also, a bed of two feet in thickness, which is extrenielv fine " in its grain, and yields a Lithographic stone of excellent quality. It hi's been " repeatedly tried by Lithographers, both in Canada and England, with most sat* " isfactory results, but owing to the remoteness of the locality, no atten^pt !ias " hitherto been made to work the stone." It is also stated by the authority above quoted, '• That large blocks of very good n\ 6. ** white ninrble liave been obtained from the Townships of Elzevir and Marmora. Ti'at from the hiticr phiec is extremely pure, white, and compact." Besides this, a bed of very superior marble has lately been discovered in the Township -' Belmont, a few miles to the north of the big ore bed, which has been pronounced by experienced marble workers from the United States as equal to the very finest specimens of Italian marble, and much resembling the statuary marble of Carrara. The Marmora Compi.ny, who own these extensive lands and valuable mineral deposits, cft'er to amalgamate with the Cobourg and Peterborough Company on the most favroable terms, and will, if thought desirable, subscribe for preferential stock, and pay for it with their entire lands and property. The great ore bed in Belmont is but six and a half miles distant from WATERS WHICH ARE NAVIGABLE TO A POINT ON THE CoBOURG AND PeTEKBORo" RaILWAV, AND WirillN FOURTEEN MILES OP LaKE OnTARIO. The route thus presented for the transit of ore and other freight from Marmora to Lake Ontario, which merely requires the construction of a short link of six and a half miles in length, over a level country, to render it complete, and the cost of which would not exceed 8f>0,000, will equal, in all respects, both for capacity and eco7i- omy, any direct line of railway from Marmora that could be constructed to the front, and will entively remove the objeciions alluded to by S'r William Logan, and enable the proprietors to export the vast mineral and other wealth with which these lands abound. By this route 100,000 tons of iron ore, exclusive of marble and other freight, could be transported from Marmora to Cobourg during the season of navigation with the greatest facility, at a cost, including handling, of $1.50 per ton. This tariff, owing to the economic advantages of the water portion of the route, would yield a fair profit to the carrier. Add to this sum the cost of quarrying, and ship- ping freight, it will be found that this ore can can be landed at any American port on Lake Erie for $4.25 per ton. In proof of this, it may be stated that during the present season 25,000 tons of sawn lumber was profitably carried from Peterborough to CobourT; by rail and boat at a cost, luding three handlings, of one dollar per ton. This freight was towed on scows by steamboat a distance equal to the navigable portion of the Mar- mora route, and carried over the same 14 miles of rail. It may be added, that the shipment of ore as ballast by vessels going west for grain, together with the certainty of return freight in coal, would reduce the car- rying rates of ore to u minimum. The principal outlay at present required on the Cobourg Railway, is to complete the Rice Lake Embankment, to construct the Marmora Branch, and to supply the necessary Rolling Stock. Judging by the work already done, it will require 250,000 cubic yards of filling to complete the embankment, this will coat $62,500. A bridge will be necessary I f o L ^7^/ OPZ I ^fi-P/p'i*^ /^> 1. 7. in the centre of tl-e lake, to allow sny 200' yards of water way. As the piers alrea- dy exiat well filled with stone, a superstructure of short spans is all that is neces- sary to complete the work. The cost of completing the main liii- ' f ^v ^' '^^ •i' ^rv v^ " • "" ~ r - ' ^ ^ v ^ ^ ^ ^ l ^" " ~y" ^%" "T^^^ ' ~' ' i 4 « c^.: •hi*. 11. expenses contingent upon such inquiry, and the arbitnitcrs may disburse such funds lor tlie purposes of such inquiry, and may retain therefrom their own fees and disbursements. 5. The iirbitnitors shall give n jtice in the Canada Gazette, in the Cobourg Star, and J'eterln/ough Review, one month previous to holding the said inquiry. G. The effect of the award, when so made, shall be to limit the amount of all the encunibr.inces or liens on the said railway, and against the said company, to tiie proseiit value of the railway properties and frjuchises as declared in the award ; and on payment of the said award, in the manner hereinafter provided, all encum- liranees, liens, .i.dgments and claims against the s.i id company of what kind soever shall be wholly discharged and acquitted, ind all paities interested either -• uond- holders or creditors oi' the said tinup.iny shall, as such, thereafter bo fore ^r fore- closed and debiirred from claiming any right or intere.'t in or over the said railway ; Provided, always, that the claims in full for unpaid rights of way or station and depot grounds as agreed on or arbitrated on with the company shall be a first charge upon the award. 7. The amount of the award so to be made shall, within eighteen months from the tiling thereof in the otr:ce of the clerk of the peace for the united counties of Nortliuniberl.ind and Duiham us herein provided, be paid by the said company into the Court of Chancery ibr Upper Canada, to be paid out or distributed by that court : In the first place, towards unpaid rights of way and depot and station grounds in full, and thereafter by pro rata distribution to the respective bondhol- ders and creditors in accordance with the amounts and priorities estalilished by the award, and upon petition by the claimants verified by afiSdavits; Provided always that any of the holders of the said bonds shall have the option of converting th(Mr bonds into p:iid up new capital stock, in the proportion of double the sum which ho or they would be entitled to receive under the award. 8. So soon as the award shall have been paid into the court of chancery, and the euc"tnbrances or liens on the slid railway discharged or acquitted as herein pro- vided, the railway, its properties 'ir.d fraachises, shall revert absolutely to the ori- gi^Mil shareholders, and the company shall tbencelbrth be governed by the original Act of incorporation, which shall then and thereafter be in full force and "effect,, excepting so far as the same shall be virtually altered or amended by this Act. .9. Upon the railwiy properties and franchises so reverting to the original share- holders, the original siiares shall be reduced to twentv-five per cent, of the amount subscribed; and the capital shall consist of that proportion oC the paid up stock, the,an'..,unt, if any, of the converted bonded debt, and any further subscription of new stock by municipalities or other parties, to the full amount of their subscrip- tions, whiuh shall be called in from time ut time, as the Directors shall decide, -•vph.c.alls not to exceed ten per cent at one time, and to be payable after sixty days notice ; and the said new sub.scribod stock, and the converted bonded stock i^hJll be a preferential stock, and shall be fir.-^t entitled to dividends at the rate of ( I": v^ i^ f* L m 12. eight per cent, per annum, before any profits are d'vidcd among the other share- holders. 10. Upon payment of the award in manner hereinbefore provided, a certain mortgage held over the railway by William Proudfoot, Esquire, as trustee for the bondholders, shall be assigned to such person or persons as the then directors of the company shall appoint, to be held as a security for moneys raised and advanced to pay off the said award, until the new company shall have been fully organised, and such moneys shall have been r nvevted ir,to preferential stock as aforesaid. 11. The company being so re-organiseu, the shareholders shall hold a meeting at the town of Cobourg, for the election of directors, on the firtt Monday in Jan- uary or .'uly, whichever shall first happen after the satisfaction and discharge of the award as hereinbefore provided ; and after the election has taken place, the directors sliall cause a now stock book to be opened, in which the new preferential shares shall be entered, together with the shares of the bondholders, if any, who shall elect to subscribe in the proportions aforesaid, and the reduced original stock. 12. The company, when so re-organised, may enter into contracts lor filling in Rice Lake Bridge, for putting the railway and bridges into an efficient state of repair, and for the purchase of rolling stock, and they may iasue debentures and negotiate the same or pay them to the contractors or others employed ; such deben- tures sliall not be for a less sum than two hundred dollars respectively, and shall be payable at such time or times, and on such terms as the directors shall see tit, the whole amount to be issued shall not exceed four hundred thousand dollars at any one time, and security may be given by mortgage or otherwise over the rail- way and rolling stock, to secure such debentures ; and the company may, from time to time, make a lease or leases of the said railway and of the rolling stock. 13. At the first meeting for the election of directors under this Act, the original shareholders shall vote, and shall be eligible as dli-ectors ft / the succeeding year upon their original stock in the company ; and on the same day it) eaoh year thereafter a new election of directors shall take plaoe, At all elections subsequent to the firjt, the s.^areholders shall vote on the new stock list, and any person phall be qualified 'o sit and act as a director who shall hold stock to the amount of one hundred dollars. 14. In case of failure to elect directors on the duy appointed, the directors shall retain office until a new board is chosen, which shall take place with as little delay as possible, one week's notice in a Cobourg new.spaper being given before such election shall take place. 15. This Act shall be deemed a Public Act. I f? '1 *» 13. a.:n^ a^ct To Amend und Extend the Acts Relating to the Cobourg and Peterboro^ Railway Company \i7HEllEAS, in pursuance of the Act intitutled, " Ad Act to make further »V provisiona relating to the Cobourg and Peterborough Railway Company," passed in the twenty-fifth year of Her Majesty's Reign, certain arbitrators were appointed for the purposes therein named, who afterwa.ds made their award de- chiring the value of the properties and franchises of thv, said Company, which said award was set aside by the Court of Chancery ; And whereas it is desirable that litigation should cease, and that the value of the properties and franchises aforesaid should be ascertained and defined by this Act, and it is also desirable that the said Act of the twenty-fii'th Victoria should be otherwise amended : Therefore, Her Majesty, by and with tlie advice and consent of the Legislative Council and As- sembly of Canada, enacts as follows : 1. Tiie sum of one hundred thousand dollars shall be the true value of all the said franchises and properties of the Company, and shall be in lieu of the said award to all intents and purposes according to the requirements of the said Act. 2. The said sum shall be paid into t\,^ Court of Chancery, in manner following — fifty thousand dollars ;— part thereof within two years from the passing of this Act, with interest, and the remainder within four years, with interest from the said date ; and the said money shall be distributed by the said Court in the pro- "portions and according to the priorites following, that is to say, towards payment of tlio bondholders rateably, the sum of twenty-five thousand dollars out of the first payment rso to be ni de, and forty-five thousand dollars out of the second payment so to be made, and the residue of the moneys to be paid rateably to the parties claiming for unpaid right of way and depot grounds and other registered incum- brances prior to the mortgage mentioned in the tenth section of the said Act of twenty-fifth Victoria ; Provided always, that if the amount due for unpaid right of way and other registered incumbrances prior to the said iMortgage, shall exceed thirty-thousand dollars, the excess shall be recoverable against the said Company, after the expiration of the said period of four years, but all other claims and de- mands whatever against the said Compi.«iy, are declared to be fiuui'y extinguished. 3. Upon the deposit by the said Company, in the said Court, of ten thousand pounds sterling of Cobourg Town Trust Debentures, duly issued under the provi- sions of the Act twenty-sixth Victoria, chapter forty-eight, to be held as security for the due payment of the first instalment, and which are to be liable, in case of default, to forfeiture foK the benefit of the bondholders and creditors, then and immediately thereafter, the railway, its properties and franchises, shall revert abso- lutely to, and become the property of the said Company, as organizeu by the ori- giiunl Act of incorporation, subject, nevertheless, to payment of the said sum of one hundred thousand dollars and interest thereon, which sum shall stand as a fir'* t charge oc the said Railway, and the Company shall thenceforth be governed by •i I f ^ *i ( "i the original Act of Incorporation passed in the sixteenth year of" the Rci"n of Queen Victoria, chapter forty, and by the said Act of twonty-fifth Victoria, as amended and extended by this Act, which shall then and thereafter be in full force and cflFect. 4. The tenth section is rapcaled, and the following substituted therefor : " Upon deposit of tlie Debentures hereinbefore referred to, a certain mortgage held over the Railway by William Pnnidfoot, Ks(juire, as Trustee for tiu! bond- holders, shall be assigned to such person or persons as the Town Council of the Town of Cobourg shall appoint, to be held as security for the md Debentures ; but such security to be a second charge on the Railway, its francliises and proper- ties after the said one liundred thousand dollars ; Provided always that the said assignment may be made by order of the Court of Chancery, Vy any officer of that Court in tiie event of the absence from the Province, illness, death or incapacity of the said William Proudfoot." 5. The eleventh section is amended by striking out the words " which over shall tirst happen after the satisfaction and discharge of liie award a- hereinbefore pro- vided/' and substituting therefor the words " whichever shall tirst happen after the passing of this Act and the deposit of tlie said Debentures." 6. On failure of payment of the said moneys, or any part thereof, the parties interested may proceed in the Court d' Chancery to sell the Railway, togetiier with ull its works, as fully and amply as if the same wore chargjd by mortgage in ^itb first instance. 7. Tills Act shall be deemed a Public Act. ^A.1^ .^C T To Authorize the Cobourg and Peterborough Railioay Company to Construct a Tramway or Railway from the Marmora Iron Works to Ihi' River Tren!, or to Rice Lake, and Jor other purposes. i \ " ilERiiAkS the Cobcur.;' and i*etorb'""!»u-,r'i Railway '..' lopaiiy h.^v ■ pLtitioiicd VV i'ov powijr to cf'tablish a line i>f w. i-^'' ■ niui! siiir-aiion between HiirwofKl on Rice Lake, and .-^ofin' jiunl on tho Rivei ! tu construct a tramway or i.'i'iviy iVo;.' 'h': •;;■■■>>!' 'frenc t'' Miirm.^ia, r-r^ up ',■ oi "'i'.",-; v,i''i ih'' iViiO'i'iuMi lr;ii' vVurk.-: :nu v.'lii'n.'as, it ii uilvi- il'lo.tti gi-iiut ihc -.lii ]i<»'.vt'rh .-is vv!.'ll iih other powers incidental thereto, or connected with the same subject : Therefore, Her Majesty, by and with the advici and consent of the Legislative Council and Assembly of Canada, enacts as follows : 1. The said Cobourg and Peterborough Railway Company are authorized to build, purchase, possess and hold one or more vessels to be propelled by steam or other power, with all such necessary scows, boats and barges as may be required •1 »1 i 15. to be used und employed on th« waters of Ilicc Liiko niid the River Trent, by the fluid conipuny for the purpoHca, and in connection with the objects and undertnlt- inj^H referred to in thia Act. 2. The wiid Company are authorized to construct a tramway or railway, to run from any point on the River Trent tu any other point or points in the Township of Marmora, and to purchase acquire and hold all necessary locomotives, rolling stock, matters aud thiii-,'8 which may be reciuired, and to use the same, in carrying iron and other ores, merchandize and materials to and from the said Township cf Marmora. i: The foilowin" clauses of" the Railway Act," are incorporated with this Act, that is to saj, Llio i <^. second, third and fcmrth clauses thereof, and the clauses relating; to " Powers, Plans and Surveys, Lands and their valuations," except in so far as tliny may be inconsistent with this Act. 4. The Cobourg and Peterborough Railway Company are authorized to unite with the Marmora Iron Company, with the consent of a two-third majority of the shareholders, and proprietors of each of the said Companies, for the purpose of min- ing for ores, minerals, marble and any other valuable substances, and of smelting any such ores and mineral substances, and of carrying and conveying the same to market by the said route and generally for all the purposes of this Act, and an/ provisional or final agreement between the said companies with the consent of a majority of sharehoiJor.i, shall be binding. ..6. The said companies mav for the more effectual carrying into effect of such union, consolidav. their respective debts and n.iite their stocks, properties and ef- fects, and on such terms, either of complete or partial union, and either of joint, or separate, or absolute, or limited liabilities to third parties, and either absolutely or for a time, and e;thci for the whole or any one or more of the objects of the said Companies re.spee.-vely, or of this Act, as such Companies shall deem meet, and i.ny deed or agreement un ' Northumberiaiid, .■md t) • North Ridin "^' •iM.-^r . ' • i^vMmhU. till c;!f fi '• tw(. weeks i.. the Ca'ad'.-' u (1. Ail 'I- j.-v-.^is oi'thn H^iul Ooinpanies reapr-erivo!/ slirtli "on'ri ;> "}• 'hf.. Iv >n ,'iij;iv >is !\i A( f l.nd fVim n,(d be held lid Com- panies are empowered to pledge their credit and properties lor any such joint object as shall have been ratified by the shareholders, and may issue their joint or joint and several debentures, in accord mcj with any such agreement so filed as aforesaid, which shall bo binding, and they usay charge their respective properties therefor, subject to any existing liens or chirgjs there )n, siic'i L-boiitures to bj for sums not less than one hundred dollars respectively. 7. This Act shall be deemed a Public Act. '*\ '