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Lea diagrammes suivants illustrant la mAthoda. 1 2 3 1 2 3 4 5 6 poration of Ottawa and the Corporation of the Town of Prescott ' «V ^ The principal of the said third mortgage upon the Railway held by the Grand Trunk Railway Company of Canada, shall constitute the third charge. ^ P 4. The interest upon all the three mortgages*^all be ca- *»£i<«»»«*-pitalized up to the thirtieth day ol June in the year of our /^- Lord one thousand eight hundred and sixty-six, or to such date as the net receipts shall have paid for the repairs and re- newals aiul change ofgiiage. 20 /I (4»- / J iB7- f Pi §. Any debts contracted since the appointment of the present .^ . . Receiver for working expenses as hereinafter defined, shall 40 be paid in cash and in full. 9. The necessary expenses of patting the road and bridged in a secure state incloding new ties, and the like, and the alter- ing of the guage shall be paid out of the first net earnings of the e^>^ U Jh^ ^^^^^^^^«iS^^ works .« completed 10. Th.. ,f--;o- .hall a, ««,„ as practicable «f,er ,he "«Act, take all nece«««rv „..,. proper measures ^;. as to canitalizini/ « passing of this Ac,r,akr'il ^eceZ" " .CI;;™- -^ •"" for giving effect to tho provis ona o? .?, Z * ' ™P*-'' "'««sures the interest on th.- said^rsl^!^?. u '^*'' "^ '° capitalizing first niortgage bond "therefor »„^?^'' ^""t """^ ^'^'^^ ^""he? certilicales of ZtrSlu "J"'.'*'"" *>; issuing and giving 'Orestdueon.hiSiS h',3"^ '" "«"^f'»^tion of the inte! liabilities herein m" nS^S anTfof.r' •"■' "^'^^'^'^'^ «"J hy advertisement of tl e Hme and . it^'T'"^"'^'^"'' °"'^'='' mises. ""^ ""° P'^^e of eHectmg the pre- >^ct relating to the sa.V Pom « ' ''7'" "''I"''''"' ''y any totheurnountiordinarv.t n£t"^' «nd without reference «nd the said p^fZ SVZJ^ V'T^^ ''"»'■•'« "'^''"dy is«»ed the preferentiJZ ','°'^'*.''° « »^ J^8««d shall rank with 20 sharis aSr^.. T;,;' S^ «"d "H preferentffi interest, or subscribed SllT, l '^'^«^""'« '" 'satisfaction of entitled to pr^^ntlt f foS; It t^l^T^^y of profits as hereinafter nrn«i,in^ ^ . '"^ divisjon 25 shaVl be in ^ha^rrttpSfctre^cyS.'^"'"^"''^ ^'"^'^ 3i^;^ts~afe tioned .nd ^^^^i:^X:^^t::ztc^:^ ^^p- ''the' .!:rs"d;:"r^h:fii^'""' ^r"!""^ --- '^^ mort^at^e bond. S^ing « wo T.h ' ^?^'" >"'^^' «""'• ^^^ a.nount%.f one HuSf ?lous«nd f'^^'^l'^'^^^ed to the >o b. issued f<)r I e eapitL r.a ?o.f o^in,? T^"S^^ the bonds 40 provisions of this ^^*j^l"'""^«"°» "< '""''•es! thereon under the «heprincipai\morto/sJhri^r P^'^^"' per annum on /%-^ ;, XCit «.^^r^3S;t:-r3X:Srr:^^K^:^ /-l:/ i^t>z,tt^^ / ^A./" ^.^. f^9h^^ CCt^/ ^ $ i of the Town of Bytown and the Town Council of the Town of Prescott. 4 In payment of thu interest for the lime being due on the mortgage given by the snid Company to the Grand Trunk Railway Company of Canada or for their benefit. £ U J'*' ''.' '" ' rr J ' / J - ^ > I . '■■ '■' ■ ' » fi.Tr/payment ot a dividend for the time being on preferential stoelv at tiie vate of six per cent per annum. the ^ . ■ 6. In payment of a dividend for the time being on the Z J\^<^ ^AvC'fL / ordinary Mock of the Company. r / h^uV /iAi< (£... 13. The expression » Workinji Expens^eN," when used in 10 thi? Act sliall mean and inelnde all expenses of maintainance and renewal ol' the Kailway and ol th-- Hlations, buildings, wharves, works and ronvi;nienees belonging thereto, and of the pnrcha«e of roiling and other slot-k and moveable plant used in the working thereof; And also all such rents or annual sums as 15 may be paid in respect ol'any lands, warehouses wharves orolher properly leased to or held by the company, or in respect ol the hire ofeni^incs, carriages, or waggons, let lo the company, rent, charges or interest on i inds belonging to the Company purchased hut not paid for, or fully paid for ; and also al" expenses of and 20 incident to, work in:,' the Railway, and the tralhc thereon, including stores and consumable articles ; also rates, taxes, insurances, and compensation for accidents or losses ; Also all salaries and wages of persons (>mployed in and about the working of the rnilway and IraHic ; and all secretarial and 25 cstiiblistimcnt expen^>•s■ including IJireetors fees, agency, legal and other like expenses, including the expenses of this Act, and attending the same and generally all suchcliarges, if any, not above otherwise specified (and no other,) as in the case of English Railway Companies are usually carried to the debit of 30 revenue, as distinguished from capital account. 14. All parties, shareholders in the said Company, shall, at all nieeiings, whether for the election of Directors or for any other purpose, be cntiilrd to or.' \o!ef'>r every share of ordi- nary or prefercnliiil slock held by them ; and all pro|,;ielors or 35 holdi-rs of the ■lid first moitgagc bonds, as well those origi- nally created, ;.- tho^c to be issued in capitalizing the interest thcM-eon shall have iln' shiih; right of voting at all such meetings, and in the election of Directors, as if they were stockholders lo an amoiinl e(|nal to ill" amount of the lioiid or bonds, heici by them ; each ten poiuKls I'urrency in such last named amount, whether such amnuni si,:. 11 be in sterling, currency or dollars, entitling the proprietor or holder to one vote ; and such proprie- tors or iiolders of bonds may vote either in person or by proxy at all such meetings. 40 45 10 15 JQ^I^T ^7^v ^^^ Iff Novotesshallbereceivedinrnsippctofanybonds, unless Ihe same shall have been noted, or re«isloi.'d by ilio Secretary, Treasurfr, or miiir- oih.T dulv authorized Oliiw^r ol ihe Company ^ at its head otilcc in Ottawa, at least on.- weeii prior to thi- moetmg j. y . 6 at which such votes are ottered in the name ol the person or ^.^,^.x/_ nf' K^dlt *-> persons by wliom, or by proxy for wliom, such votes shall be 1/ / tendered ; and all such bonds payable to the bearer may be so noted or registered, in the name ol the bearer thereol on pro- duction ; or at his request, in the name of any other pert m, 10 alleged by him to be the pr()i)rietor ; and a l.>t ol the names ot the persons entitled to volt- on the said bonds so noted or regis- tered with the number of votes each is entitled to, shall be , prepared bv the said Company, ami laid before the share holders t. at wich annual {general meeting, before the .■leetum oi bueetors. 15 10 The proxy for a holder of bonds may be miiUtlk mutandia in the' same fonu or us near thereto as may be, as that lor a shareholder,— Init no shareholder or bondholder shall bee.it ulcd to vole at any meeting by proxy, unles-* the instrument appo.nt- in" such proxy shall have been transmitted to, or lodged witn, 20 the Treasurer; Secretary, or acting Secretary of the Company at least forty-eight hours before the time forholdmgthe nuuMing at which such proxy is to be used 17 The next general meeting of Ihe said Company, for the election of Directors and other business, shall be held 25 within three months after the passing of this Act ; and there- after the annual general meetings shall be held in the month of March in each year ; and the IJiieclors shall from time to time fix the day, place and hour for all such m^etmas, and give notice thereof in the aimula Gazette, and in one news- 30 paper in each of thi' Counties of Carletou and Crenville, at least fourteen days, and in one new>papor published in Lon- don, England, at'least thirty daysbelorc the time appointed ; and no other notice oi any such n.ectmgs shall he rcquiied: and any such meeting may br adjourm-d from Xnw iotim.'. ^ WHO 35 IH Ollice Til.' present Directors of the Company shall remain in until the first general meeting ^ *'" '^ after the pa>sing of This Act, and shall then go out of Olfice; and thereafter the business and affairs of the Company of the Cornpany of shall be .iumai,'.(i by eight Directors, five of whom ^hall be U) eho-eii bv tie- MrnehoWei^s'and Hondholders, one by the City of Ottawa, one liv ihe Corporation of the Township ol Oxford,— tlie -aid eoiooiuion being Shareholders,-and oik; by the Town „f PrcseoU bill Ihe said three Cnri)orn.tions havin^ each one Dire, tor us aforesaid, shall have no right U. vote in the hlection 15 of the said five Din^ctors, so to be chosen by the Shareholders and BoudlioUlers as aforesaid. / L 45 J'-^^„ '<^ 1/ .X. fr ' A '■-^"■^-' by .h!?l /?.,'' n'^'"^ ""' ^"'^ *?''''"^' '^^"'■^•' '" ""• provisions of ,10 this Act the Directors may by Resolution of the Hoard exc cise tTr'^ ^y 'a' ^^' ^^''"'' '" »'''"" «'"1 s"'^'' resolution shall have the same eflect as a by-law. m r 6 r f r 1 10 15 95. So intu'h of all and pvcry ihr Act* relating i said Company, antl of -II other A