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Lee diegrammas auivants lilustrent le mAthode. :^ ata lure. : IX 1 2 3 1 2 3 4 • e -^. i^) DEED »0R BP^BCTINO THE fNIOS OF TltB GRAND TRUNK RAILWAY COMPANY OF CANADA AND THR GREAT WESTERN RAILWAY COMPANY OF CANADA \\ :v Dated 25th May, 1882. LONDON: WATEELOW k SONS Limitbd, PRINTERS, LONDON WALL, 1882. I \ f M DEED FOR EFFECTIKO THE UNION OF TEB GRAND TRUNK RAILWAY COMPANY OF CANADA AND THE GREAT WESTERN RAILWAY COMPANY OF CANADA. CWfif Mttti made tho 25th day of May 1882 Between THE GRAND TRUNK RAILWAY COMPANY OF CANADA in this Agreement called " The Trunk Company '* of the one part and THE GREAT WESTERN RAILWAY COM- PANY (of Canada) in this Agreement called ** The Western Company *' of the other part. WHEREAS the Capital of the Trunk Company at the date of these presents hereinafter called Grand Trunk Capital consists of the sums mentioned in the First Schedule hereto in which Part I. shows the amount of Borrowed Capital hereinafter called Grand Trunk Borrowed Capital and Part II shows the amount of Stock or Share Capital including both Prefererce and Ordinary Stock and Share Capital which Preference and Ordinary Stock and Share Capital is hereinafter called Grand Trunk Share Capital. And whereas the Capital ol the Western Company at the date of these presents hereinafter callcl Great Western Capital consists of the sums mentioned in the Second ScheJuls hereto in which Part I. shows the amount of Borrowed Capital hereinafter called Great Western Borrowed Capital and Part II. shows the amount of Stock and Share Capital including both Preference and Ordinary Stock and Share Capital which last men- tioned Preference and Ordinary Stock and Sharo Capital is herein- after called Great Western Share Capital. And -whereas under the powers conferred by an Act of the Provincial Legislature of Canada passed in the 16th year of Her Majesty Chapter 39 inti- tuled " An Act to empower any Railway Company whose Railway forms part of the Main Trunk Line of Railway throughout this ProTince to unite with any other such Company or to purchase the property and rights of any such Company and to repeal certain Acts therein mentioned incorporating Railway Companies " and by another Act of the same year Chapter 76 intituled " An Act to extend the provisions of the Railway Companies Union Act to Companies whose Railways intersect the Main Trunk Line or touch places which the said Line also touches'' and the Acts amending or extending those two Acts and under all other Acts and powers enabling them the Directors of the Trunk Compttny have agreed with the Directors of the TVestem Company that the Companies they respectively represent shall be united as one Company upon the terms and subject to the provisions hereinafter contained. Now these Presents Witness that each of them the Trunk Company and the Western Company pursuant to the powers conferred on them by the two last-mentioned Acts of the 16th year of Her Majesty or otherwise howsoever do hereby agree with the other of them and do declare in manner following that is to say — 1. On and after the 12th day of August 1882 (which day is> in these presents called the date of Union) the Trunk Company and the Western Company shall be and become united as one Company and one Corporation. 2. In accordance with the direction for this purpose contained in the before-mentioned Act of the 16th year of Her Majesty Chapter 76 the corporate name of the Company (in these presents called the United Company) formed by the union of the Trunk Company and the Western Company shall be " The Grand Trunk Railway Company of Canada." T t 5 3. The United Company ehall be invested with and have all the rights and property and be responsible for all the liabilities of the Trunk Company and the Western Company and any right or claim which could be enforced by or against either of them may on and after the date of Union be enforced by or against the United Company. 4. The Borrowed Capital existing at the date of Union of the Undertaking of the United Company in these presents called the United Undertaking shall consist of the Qrand Trunk Borrowed Capital and the Great "Western Borrowed Capital respectively mentioned in the first parts of the two Schedules hereto. 5. This Agreement is subject to the proviso contained in the Fourth Section of the said Act of the 16th year of Her Majesty Chapter 39 which is in the words following that is to say ** Provided always that the rights of the Province or of Her * Majesty on behalf of this Province under any guarantee *' given to any such Company or otherwise or of any ^'person or party having any special hypothec or privileged '''claim upon the lands and buildings tolls revenues or other ^' property real or personal of either of such Companies or upon " any part thereof shall not be impaired by such Union and the ^* Company shall keep separate accounts with respect to each *' Railway so as to ascertain the property or moneys upon which ** any such hypothec or privilege may attach.' n ti. Subject and without prejudice to the rights reserved by the provision quoted in the last preceding Claune of these presents the earnings of the United Undertaking shall be liable and ap[llcable to discharge rateably and without priority all debts and liabilities of the Trunk Company and the "Western Company. 7. The Share Capital of the United Company shall consist of two classes namely the Grand Trunk Sharo Capital mentioned in the second part of the First Schedule hereto being the whole Share Capital of the Trunk Company and the Great "Western Share Capital mentioned in the second part of the Second Schedule hereto being the whole Share Capital of the Western Company -which two classes of Capital shall together constitute the total Share Capitol of the United Company as existing at the date of Union. 8. Any issue of Share Capital which could immediately before the date of Union be made by the Trunk Company or the Western Company may from time to time be made by the United Company under the powers conferred by the Acts relating to the Trunk Company or the Western Company as the case may be or otherwise and having regard to the terms of these presents and all increase of Share Capital so made shall be apportioned as follows namely 70 per cent, of such increase shall be apportioned and added to Grand Trunk Share Capital and 30 per cent, of such increase shall be apportioned and added to Great Western Share Capital but such increase shall not be made so as to raise either the Trunk Share Capital or the Western Share Capital to an amount in excess of that to which each could have been raised if these presents had not been made. Provided that no powers shall be exercised by the United Company to create and issue Share Capital in lieu of borrowing powers under the 11th Section of " The Great Western Railway Act 1876 " or as amended by the 5th Section of " The Great Western Railway Act 1882 " unless con- sent shall be given thereto by the vote of three-fourths of the holdera of Great Western Share Capital carrying a Dividend at the rate of 3 per cent, as hereinafter mentioned present in person or by proxy at any Special General Meeting of the holders of such Share Capital called for the purpose but if such consent be given 70 per cent, shall be apportioned and added to Grand Trunk Share Capital and 30 per cent, shall be apportioned and added to. Great Western Share Capital. 9. The number of Directors of the United Company shall be fourteen. t ■' 10. The number of Directors may at any time be increased or Induced by the shareholders in Special General Meeting. i. #» 11. One-third in number as near as may be of the Directors of the United Company shall each be the holder of at least £2,000 of the Great "Western Share Capital carrying a dividend at the rate of 3 per cent, as hereinafter provided and each of the other Directors shall be the holder of at least £2,000 of the Grand Trunk Share Capital and any Director who ceases to be a holder of such capital of the Company to that amount shall thereupon also cease to be a Director of the United Company. 12. The first Directors of the United Company shall be Sir Henry Whatley Tyler M.P. Sir Charles Lawrence Young Baront & Lord Claud John Hamilton M.P. Robert Young Robert Gillespie William Unwin Heygate James Charles The Right Hon. David Robert Plunket M.P. The Hon. James Ferrier Viscount Bury Henry Doughty Browne Colonel Edward Chaplin John Marnham and Major Alexander George Dickson M.P. and they shall be the Directors until an election of Directors shall be held and made by the persons entitled to vote as hereinafter provided. In case of any vacancy prior to the first election from death or resignation it shall not be filled up so long as there shall be twelve. The first election of Directors shall take place in the month of March 1883 and the election of Directors thereafter shall take place at Meetings of the United Company to be held in the month of March or April in each year as the Directors shall from time to time by bye-laws passed for that purpose direct. 13. Subject to the provision contained in the next clause of thepe presents holders of Grand Trunk Capital shall continue to have the like power (if any) to vote at all General Meetings of the United Company on and after the date of Union as holders of similar Capital in the Trunk Company have at the date of these presents to vote at Meetings of that Company and holders of a Great "Western Capital shall continue to have the like power (if any) to vote at all General Meetings of the United Company on And after the date of Union as holders of similar capital in the Western Company have at the date of these presents to vote at Meetings of that Company. 14. Holders of Grand Trunk Capital entitled to vote at Meetings of the United Company as in the last preceding Clause mentioned shall have the same number of votes respectively as they have in the Trunk Company at the date of these presents. Holders of that portion of the Great "Western kihare Capital carrying a dividend at the rate of 3 per cent, as hereinafter provided shall respectively have one vote for every j£13 nominal of such Capital held by them until £6,000,000 (including the amount already issued) of Grand Trunk Debenture Stock has been issued and thereafter one vote for every £10 nominal of such Great Western Share Capital. 15. The Directors of the Trunk Company and the Directors of the Western Company shall go out of office on the day before the date of Union and the Directors of the United Company shall come into office and imdertake the direction and control of the aflfairs of that Company on the day of the date of Union. 16. The quorum of the Directors of the United Company shall be from time to time fixed by the Directors. 17. Any Director not in Great Britain may vote by proxy at any Board Meeting but the proxy shall be appointed in writing and shall himself be a Director and a Director shall not act as proxy for more than two other Directors. 18. Of the Directors of the United Company first elected by the shareholders one-third as nearly as may be to be determined by ballot among the whole body of Directors unless they shall other- wise agree shall go out of office at the Ordinary General Meeting held in the month of March or April in the year 1884 and the like number to be determined by ballot among the other Directors un- less they shall otherwise agree shall go out of office at the Ordinary v« <* ,• 9 Oeneral Meeting held in the month of March or April in the year 1885 and the remainder of the Directors first elected shall go out •of office at the Ordinary General Meeting in the month of March, or April in the year 1886 and in each instance the places of the retiring Directors shall he supplied by an equal number of quali- fied holders of Capital of the United Company and at the first Ordinary General Meeting held in the year next after the whole of the Directors first elected shall have gone out of office and in oach succeeding year one-third of the Directors being those who have been longest in office shall go out of office and their places shall be supplied in like manner but every Director going out of office may be re-elected and after re-election shall with reference to going out by rotation be considered as a new Director and in <;ase at any time the number of Directors should not be divisible by three the Directors shall determine what number as nearly ■equal as may be are to go cut of office so that the whole number of Directors shall go out of office every three years but in case at any Meeting the vacancies then occurring in the office of Director shall not be filled up the outgoing Directors if willing to act shall be deemed re-elected and shall continue in office. 19. The first Ordinary General Meeting of the holders of Capital in the United Company entitled to vote at such Meeting shall bo held at such time in the month of March in the year 1883 and at such place in London England as the Directors may appoint. General Meetings of the United Company whether Ordinary or Special shall be held in London England and two Ordinary General Meetings of the Company shall be held one in March or April and the other in September or October in each year unless the Directors shall by bye-law appoint any other months and at the first of such two Meetings in every year the election of Directors and Auditors shall take place. Advertisements of each General Meeting shall be published once at least in each of two London daily morning new!?papers and once at least in the *' Canada Gazette" not less than twenty-one days before the holding of the Meeting cud such -advtftisements shall be sufficient without further or other notice. 10 20. At the first Ordinary General fleeting of the United Company two Auditors resident in (Canada and two Auditors resident in England shall be appointed one of which Auditors in Canada and one of which Auditors in England to be determined in the- first instance by ballot between the Canadian and English Audi- tors respectivrely unless they agree among themselves and after- wards by seniority of election shall go out of office at each subsequent General Meeting at which Directors go out of office **nd at such Meeting Auditors cball be elected to supply the placo of the Auditors retiring and any Auditor going out of office may be^ re-elected and after re-election shall in reference to outgoing bo deemed newly elected and if no Auditors be elected the outgoing Auditors shall continue in office and be deemed re-elected. On or immediately after the date of Union the Board of Directors of the- United Company shall appoint two Auditors resident in Canada and two Auditors resident in England who shall hold their offico until the first Ordinary General Meeting of the United Company.. 21. The Audi^^oi's shall examine and report upon the Accounts of the Company and shall have all nejessary powers and facilities- for that purpose. \^ '\ 22. The net earnings of the United Undertaking shall mean the surplus of the earnings of that undertaking and of the revenues of the United Company from all sources alter discharging the working expenses thereof and working expenses shall mean and include all expenses of maintenance and renewal of the Railways and of the stations buildings ferries works and conveniences be- longing thereto and of the rolling and other stock and moveable plant used in the working thereof and also interest on Borrowed Capital and all such rents percentages of receipts interest guaran- teed or annual sums as may be paid in respect of Railways ware- houses wharves or other property leased to or held by the Trunk Company or the Western Company at the date of Union or to or by the United Company thereafter and also all moneys puyablo^ ': 11 I V by way of rebate or otherwise under traffic or working arrange- ments between the Trunk Company or the Western Company or the United Company and any other Corporation or person or in respect of the hire of engines carriages or wagons let to the separate Companies before the Union or to the United Company sums payable in the adjustment of the pooling or division of traffics rent-charges or interest on lands rented by or otherwise belonging to the United Company or purchased but not paid for and also all expenses of and incident to working the Railways and the traffic thereon including stores and consumable articles also rates taxes insurance and compensation for accidents or losses also all aalaiies and wages of persons employed in and about the working of the Railways and traffic contributions to superannuation or other like funds and all secretarial and establishment expenses including Directors' fees salaries of Commissioners agency legal and other like expenses and generally all such charges (if any) not above otherwise specified (and no other) as in the case of English Railway Companies are usually carried to the debit of Revenue as distinguished from Capital Account Provided however that nothing herein contained shall give to the Proprietors or Mortgagees or Bondholders of any Railway warehouse wharf or other property leased to or held by the separate Companies at the date of Union or loused to or held by the United Company there- after any further or other rights nguinst the United Company its property or earnings than they h:ive under the Lease IMortgage Bond Agreement or Guarantee upon which their rights are based Provided that money paid under a guarantee shall if and when re- paid be applied as nearly as may bo in the same manner as it would havi- been applied if no payment thereof under the guarantee had been made Provided always that the sums equal to twenty per cent, of the traffic interchanged between the Wellington Grey and Bruce Railway and the Western Company as defined in the Agreements between the Willing! on Grey and Bruce Railway Company und the Western Company which by the sold Agree- ments tho Western Company became bound to apply in acquiring 13 the Mortgage Bonds of the Wellington Grey and Bruce Railway "Company shall on and from the date of Union be applied by the United Company as an investment by the United Company in the "Wellington Grey and Bruce Railway Company's said Bonds to be reimbursed by re-sale of the Bonds thus acquired and that such sums are not to be charged upon the revenue or earnings of the United Company or any part thereof but profit or loss on re-salo shall be credited to or charged against revenue and a similar course shall be pursued in any other similar case whether as re^^ards the Undertaking of the Trunk Company or the Western Company. 23. The net earnings of the United Undertaking shall he divided between the two classes of Share Capital as follows that is to say : — (a) Seventy per cent, of such net earnings shall be appro- priated and belong to Grand Trunk Share Capital. (b) The remaining thirty per cent, of such net earnings shall be appropriated and belong to Greixt Western Share Capital. (c) But if in any year ending on the 3l8t day of December the thirty per cent, of net earnings appropriated to Great W^estern Share Capital should be insufficient to pay a Dividend for that year at the rate of five per cent, per annum on the portion of that Capital carrying a Preference Dividend at that rate and also a Dividend for thut year nt tlie rate of three per cent, per annum on the remaining portion of that Capital then the amount required to make up the full amount for that year of such Dividends at five ])er cent, and three per cent, respectively shall bo paid and made good out of the seventy per cent, of net earnings appropriated for that year to Grand Trunk Share Capital but not out of the seventy per cent, of net caiumgs so appropriated for any subsequent your except 13 i ■ that if the entire net earnings of any year shall be insuffi- cient to pay the said Dividend at five per cent, (which is and is to remain a cumulative Dividend) the deficiency is to be a first charge payable out of net earnings in subsequent years, ^d) Nevertheless no higher Dividend than such Dividend at the rate of three per cent, shall in any year subsequent to a deficiency be paid on the portion of Great Western Share Capital carrying that rate of Dividend unless and until all sums which shall for the time being have been paid out of the seventy per cent, appropriated to Grand Trunk Share Capital for the purpose of making good deficiency of Dividend on Great Western Share Capital shall have been repaid to Grand Trunk Share Capital out of the surplus (if any) of the thirty per cent, appro- priated to Great Western Share Capital and remaining after discharging the Dividends at five per cent, and three per cent, respectively on the several portions of that Capital. (e) The same principle as to division of net earnings shall be applied as nearly as can be to the portion of a year com- mencing on the date of Union and ending on the Slst day of December 1882. {v) Out of items standing at credit in the books of the Western Company derived from revenues including funds in re- serve the Western Company shall set apart and the United Company shall pay so much money as may be necessary to pay the Preference Dividend at the rate of five per cent, per annum to the date of Union upon so much of the Western Company's Share Co;)ital as carries that rate of dividend. (o) Provided however that when and so often r»i there shall be any deficiency in the said three per cent. Dividend 14 owing to the insufficiency of the said thirty per cent, appropriated to Great Western Share Capital as aforesaid in any year to provide the same for such year the United Company shall be entitled to apply and shall apply so much as may be necessary to make good such deficiency out of the amount which may stand from time to time to the credit of the present Reserve Funds of the "Western Company which are to be kept in reserve by the United Company as an additional security for the regular payment of such three per cent. Dividends and as a protection to the said seventy per cent, appro- priated to Grand Tnmk Share Capital as aforesaid against its obligation aforesaid to make good any such deficiency but the United Company shall not be bound to set aside any particular investment or funds to represent the said Reserve Funds. (h) If for any half-year ending on the 30th day of June a dividend has been paid to any class of Stock or Share Capital which on making up the accounts for the year ending on the 31st day of December following it is found that that class of Stock or Share Capital is not entitled to receive then the excess shall be adjusted and repaid in the accounts of that 31st day of December if the same can be done and if not then in the accounts of the follow- ing or any subsequent year. 24. Subject as in this Agreement provided the seventy per cent, of net earnings of the Unite! Undertaking appropriated to Grand Trunk Share Capital shall be paid and applied to the persons and in the manner to whom and in which the net earnings of the Undertaking of the Trunk Company would have been payable or applicable if these presents had not been made. 25. The thirty per cent, of net earnings of the United Under- taking appropriated to Great Western Share Capital together with any sums paid out of the Great Western Reserve Fund and out of 15 the seventy per cent, appropriated to Grand Trunk Share Capital to make up deficiency in dividend as in Clause 23 provided shall be paid and applied to the persona and in the manner to whom and in which the net earnings of the Undertaking of the "Western Company would have been payable or applicable if these presents had not been made. 26. All the books vouchers and documents of the Grand Trunk Company and the "Western Company shall on the day of the date of Union be transferred to and belong to the United Company and the registers of holders of Borrowed Capital and Share Capital of the Trunk Company and the "Western Company shall continue to be kept as registers of the United Company with such variations in the Certificates and otherwise as may be ordered by the Directors of the United Company. 27. The Directors of the United Company shall wind up the afiairs of the Trunk Company and the "Western Company to the date of Union and finally balance the books of those two Com- panies to that date and all moneys due o standing to the credit of each of those two Companies on the date of Union shall be paid and applied by the Directors of the United Company for the purposes and in the manner to which they would have been payable or applicable if these presents had not been made. 28. All the officers and servants of the Trunk Company and the "Western Company shall on and pfter the date of Union become the officers and servants of the United Company at the salaries or wages and upon the terms at and upon which they were previously employed by the Trunk Company or the "Western Company as the case may bo. 1 29. The Directors of the United Company may from time to time make Bye-laws for the management and disposition of tlie fitock property and business affairs of the United Company not 16 inconsistent with the laws of Canada and the provisions contained either expressly or by reference in these presents and for the Appointment of all officers servants and artificers and prescribing their respective duties. .,; 30. All Acts of the Legislature of Upper or Lower Canada or of the Province of Canada or of the Parliament of the Dominion of Canada relating to the Trunk Company or the Western Company except so far as hereby expressly varied and except so far as other- wise provided by the Act of the 16th year of Her Majesty Chapter 39 or by any other Act shall apply and have effect with respect to the United Company in the same manner as if those Acts had originally applied to the United Company but generally except as aforesaid the United Company shall continue to be carried on and managed and all bye-laws rules and regulations shall have effect ^8 if the United Company were the some Company as the Trunk •Company and as if the whole Undertaking of the United Com- pany had been originally the Undertaking of the Trunk Company and in case of any conflict between the provisions of the Acts of -any Legislature or Parliament relating to the Trunk Company and the Acts of any Legislature or Parliament relating to the Western Company the provisions of the Acts relaing to the Trunk Company shall prevail 31. These presents and the agreement herein contained are made subject to the provisions of the several Acta of Legislature and Parliament hereinbefore mentioned or referred to and all other Acts of Legislature and Parliament relating to the obje^cts intended to be effected by these presents and also subject to resolutions being passed puisuant to the said Acts by a Special General Meeting of the Trunk Company and also by a Special General Meeting of the Western Company ratifying these presents and in case such reso- lutions should not be passed before the twelfth day August next these presents shall become void. 32. This Agreement shall be executed in duplicate and when 17 the same shall have been ratified and become binding on the Trunk Company and the Western Company one of such duplicates bhalt be delivered to and be retained by the United Company and the other of such duplicates together with copies of the Besolutions ratifying the same passed at the Special General Meetings of the Trunk Company and the Western Company called for the purpose- such copies to be certified by the Secretaries of the respectiva Companies shall be filed in the Office of the Secretary of State for the Dominion of Canada and these presents shall thenceforward be deemed to be the Agreement and Act of Union of the Trunk Company and the Western Company and copies properly certified of these presents and of the certified resolutions so filed shall be evidence of the Union of the Trunk Company and the Western Company into the United Company. In Witness whereof the Companies parties hereto have affixed their Common Seals the day and year first above written le >S (Signed) H. W. TYLER, President. (Signed) BURY, Freaideuf, Seal of the Grand Trunk Railway Company of Canada. Seal of the Oreat Western Railway Company. le 18 The First Schedule above referred to. GRAND TRUNK CAPITAL. Part I. (GRAND TRUNK BORROWED CAPITAL.) Date of Maturity nf Terminable Bonds. Secnrity. 16th Oct., 1882 . . 15th April, 1883. 15th Oct., 1883 .. 1st Jan., 1919 . . 1st Dec, 1882.. Five per cent. Perpetual Debenture Stock Terminable Bonds Fir&t Equipment Mortgage Bonds . . First Equipment Mortgage Bonds. . First Equipment Mortgage Bonds. . Second Equipment Mortgage Bonds Island Pond Debentures Amount. Annual Charge. £ £ 4,270,575 213,629 66,300 1 24,200 I 7,734 48,400 ) 496,700 29,802 85,300 6,118 £4,981,475 £256,183 Part II. (GRAND TRUNK SHARE CAPITAL.) Tirst Preference Stock. . , Second Preference Stock . Third Preference Stock . Ordinary Stock Authorised. £ 8. d. 3,218,149 2 2 2,327,794 13 6 7,108,065 4 6 13,486,787 16 8 Issued. £ 8. d. 3,21S,H9 2 2 2,327,794 13 5 7,168,055 4 6 13,394,654 16 8 19 The Second Schedule alove reftrred to. I GREAT WESTERN CAPITAL Part I. (GREAT WESTERN BORROWED CAPITAL.) DHte of Maturity of Terminal Bonds. Security. Amount. Annan 1 Charge. let Oct., 1882 . . 1st Dec. 1890 .. Ist Oct., 1877 . . Ist Oct., 1878 . . Five per cent. Perpetual Debenture Stock . . . . . . Seven per cent. Bonds of £100 each Six per cent. Bonds of £100 each . . Five-and-half per cent. Bonds not j-et presented, 3 of £200, 2 of £100, £800 Five-and-half per cent. Bond not yet presented, 1 of £100 . . £100 £ 2,773,900 78,300 991,600 y 900 £ 138.695 6.481 69,490 Ovcrduu and not carr)ingf interest Total Loans and Debenture Stock . . £3,844,600 £203,666 Part II. (GREAT WESTERN SHARE CAPITAL.) Amount Authorised. Amount issued. Five per cent. Preference Stock (the dividend on which is cumulative) J Ordinary Shares — 298,133 Shares of £20. 10«. each and 247 „ $100 £ «. d. 505,753 17 4 6,159,273 17 3 £ 8. d. 505,753 17 4 6,116,801 16 10 Total • £8,665,027 14 7 £6,622,555 14 2 jMemo. Amount of Ordinar;.' Shares authorised, as above Do. do. issued £ «. d. .. 6,169,273 17 3 .. 6,116,801 16 10 DlFFEREXCB £42,472 5 Consists of 1,371 Shares unissued at £20. 10s. per share .. 28,105 10 Difference of exchange on Shares taken as of £20. 10«. sterling, und their equivalent at $100 per Share.. . . 14,366 10 6 £42,472 6