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Lorsque le document est trop grand pour Atre reprodult en un seul cllchA, II est fllmA A partir de Tangle supArieur gauche, de gauche A droite, et de haut en bas, en prenant le nombre d'Images nAcessalre. Les diagrammes suivants lliustrant la mAthode. errata I to ; I i pelure. on A n 32X 1 2 3 1 2 3 4 5 1 6 AN ACT I'AssEU nv THi; IVVRLIAMKXT OF TIIK PlIOMNCK OK CANADA, I: l.V 18 5 0, f N U K 1, A T I (» ,N T (1 T II K m (^ ^ * ■ M AM) AN ORl^ER I\ ( OUNnn FOTJNDED TilEREON. TORONTO: i PIirXTRI) AT THK (;L()HI': STKAM lUJESS, 2-> KING ST. WIST. 1859. V^ 1^ Public Archives Archives publiques Canada Canada ^01038 Pi '#.. «. ■': ■^ '^f^ (J^ ; \> r,( AN ACT PASSED BY THE PMIUMENT OF THE PROVINCE OF CANADA, IN 1859, IN RELATION TO THE 0itkm §wta| d iuwii AND AN ORDER IN COUNCIL FOUNDED THEEEON. t- » i»i « ^ TORONTO: PRINTED AT THE GLOBE STEAM PRESS, 25 KING ST. WEST. 1859. /^5-f c ri) ?,o ic$i AN ACT RELATINQ TO THE ^$KVktxn §^xlm^ (Eimvm^ of (Simv^h. Whereas it is expedient to make the provisions hereinafter con- tained with respect to the Northern Railway of Canada : Therefore, Her Majesty, by and with the advice and consent of the Lcf^islative Council and Assembly of Canada, enacts as follows : — 1. Upon, and after the passing of this Act, and by the operation thereof, the Northern Railway of Canada, with all the appurtenances and appliances thereof, whether consisting of real or personal pro- perty, its Rolling Stock and Plant, and all the corporate rights and privileges of the Northern Railway Company of Canada, shall be and are hereby transferred to and vested in the Crown for the following- purposes : 1. The Governor in Council may cause the said Railway, Rolling Stock, and Plant to be put in working order and repair, and may raise a sum for that purpose not exceeding sixty thousand dollars, by the issue of Provincial Debentures or otherwise ; and the sum ex- pended for that purpose up to the time of the sale hereinafter men- tioned, shall be added to the claim of the Province on the said Com- pany and Railway, and be a first charge upon the proceeds of such sale ; 2. The Governor in Council may cause the Railway to be wf I cd, either by the intervention of the said Company or by any other p.;i - sons or parties ; but the surplus of the receipts, after the payment of all expenses of working and keeping the Railway, Stock, and Plant in order, and the deduction of six per cent, per annum, on the total amount of the claim of the Province, shall from time to time be paid over to the Company ; 3. The said Railway, Appurtenances, Appliances, Stock, Plant, rights and privileges, may on the first day of August next after the passing of this Act, or on any day afterwards, be sold by Public Auction, in the City of Toronto, after such notice as the Governor in Council may direct ; and the proceeds of such sale shall be distri- buted among the creditors of the Company, including the Province, in the order of the priority of their respective claims, those of equal rank as to priority being paid pro rata, if there be not enough to pay them in full ; 4. The Governor in Council may cause the said Railwapr, and its appurtenances and appliances, Stock, Plant, rights, and privileges to be purchased for the Province at such sale for any sum not exceeding the amount of the Provincial claim. 2, The Governor in Council may treat and agree with the Com- pany or its Bondholders, or both, for the transfer of the said Railway and Appurtenances, Stock, Plant, rights and privileges to the Com- pany or to the Bondholders, or to both, and for permitting the parties to whom such transfer shall be made to raise, by preferential Bonds or otherwise, additional capital, not exceeding two hundred and fifty thousand pounds sterling, to be applied, first, in the repair and improvement of the said Railway and Stock, and for the pay- ment of the debts and obligations of the Company ; Provided always, that the sum to be advanced for the repair of the Railway and Stock shall be first repaid to the Province out of the said moneys ; 2. If such agreement be made, the Railway and Stock and the rights and privileges of the Company shall be transferred in pursu- ance of such agreement, by Order in Council, to such parties and subject to such conditions and directions as may be agreed upon ; and the terms and conditions and directions in such order in Council expressed, shall be binding upon all persons having any interest in the present capital of the Company, whether as Stockholders, Bond- holders, or otherwise, or in what manner soever such interest may be secured ; 3. Any such Order in Council shall vest the property atid rights therein mentioned in the parties therein mentioned, subject to such conditions and directions as aforesaid, as fully to all intents and pur- poses, as if such transfer were made by, and such conditions and directions were contained in an Act of the Provincial Parliament ; and the parties to whom the transfer shall be made, shall thereby become and be held to be the Northern Railway Company of Canada ; 4. The Governor in Council may, by any such order grant a priority of lien or of dividends on the Railway and Stock, iTor the said additional capital, and such portion of the present capital and the interest thereon secured by Bonds or Debentures of the Com- pany as may be found expedient ; and the Bondholders of the Com- pany, in case the additional capital be raised by Bonds, may vote, either in person or by proxy, at meetings of the Company, and shall have respectively the same number of votes as they would have if instead of Bonds they held an equal amount of Stock, 5. The Order in Council hereinbefore mentioned may prescribe the times and place for the General and Special Meetings of the Company, and the number, qualification, and rotation of Directors to be thereafter elected, — and may authorize a certain number of such Directors to be resident in England, — and may provide for the establishment of registers of Bonds, — and may authorize the Com- pany to lease the said Railway to or to enter into arrangements for the working of the same with any other Company or persons,— and generally may make such rules and regulations for the nionagement of the said Company and for carrying out and giving effect to the agreement upon which such Order is founded as may be deemed expedient ; and all such rules and regulations shall have the Hanie effect as if they were contained in an Act of the Provincial Parlia- ment, notwithstanding any thing in the former Acts incorporating or relating to the said Company, any provision in which inconsistent with such rules and regulations is hereby repealed. 3. This Act shall be deemed a Public Act. Copji itf ltAl .^OO^XU3.t. First — Shewing order of priority {in sterling money) previous to passage of Act of Parliament, and Order in Council based thereon : — 1. Government Lien £475,000 Interest unpaidtoAug. 1,1859 116,375 £591,375 2. Company's Bonds : Mortgage Bonds 39,500 Sterling " (20 years) 180,000 " « (10 years) 8,500 Currency " 11,095 17 10 Special " 4,643 16 8 £243,739 14 6 InterestunpaidtoAug. 1,1859 43,434 8 4 . 287,174 2 10 3. Amount required to cover Floating Debt, and to place the Road in efficient service... 250,000 4. Stock Subscriptions, amount paid thereon 169,276 8 3 £1,297,825 11 1 Second — Shewing order of priority at the present : — 1. First Preference Bonds £250,000 2. Second " Bonds: In lieu of Company's Bonds.... £235,189 14 6 Issued to Province on account of Interest Arrears 50,000 285,189 14 6 3. GovemmentLien 475,000 4. Balance of Interest Arrears due to Province 66,375 5. Interest arrears on Company's Bonds £43,434 8 4 Balance of Mortgage Bonds, not entitled to priority 8,550 51,984 8 4 6. Stock Subscriptions, amount paid thereon 169,276 8 3 £1,297,825 11 1 GEO. BEATTY, Secretary. Office of Northern Railway of Canada, ) Toronto, November 22, 1859. j 16 Notice puhlished in compliance with the 10th Condition of the Act of Parliament and Order in Council : — NORTHERN RAILWAY OF CANADA, (UTK ONTARIO, IirilON'. AND SIMCoK KAU.KOAI).) £33CO]3.cixLse In accordance with the provisions oF an Act of the Parliament of Canada, passed at its lust session, and of an Order of His Excellency the Governor-General in Council, founded thereon, and dated the 12th day of May, 1859; NOTICE IS IIEKEIiY (ilVEN, To all holders of the Bonds of the Northern Railway op Canada, (late the Ontario, Sinicoc. and Huron Railroad Union Company,) that the said Bonds are required to be brou<>ht in and exchanged for a new issue of Second Preference Bonds, Of the said Company, having right of priority to the Province of Canada. And the said holders are hereby further notified, that unless the said original Bonds are so brought In and exchanged within six months from the date hereof, all right and title to the priority granted by the said Act and Order, and proposed to be conferred by the exchange, will be absolutely forfeited. The exchange may be eiFected on application to Mr. T. S. Cutbill, at the Company's Agency, No. 13 Greshani Street, London, or at the Company's Office, Toronto, Canada. By Order, GEO. BEATTY, Secretary. Toronto, October, 1859. ctof t of ncy the DA, y,) for of ;he he he