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CHARTER, REPORTS, 
 
 AND 
 
 BY-LAWS 
 
 OF 
 
 ,he iitttario j 
 
 i/ 
 
 literal ; 
 
 mk 
 
 (OtHpang, 
 
 PUBLISHED BY OEDER OF THE BOAED OP DP.EOTOES, 
 DECEMBER 30th, 1872. 
 
 PnESiDEN-r A. IT. SIBLEY. 
 
 VicE-PitESinENT, PELEQ HALL. 
 
 TuEASUREn, EDWARD LEARNED. 
 
 Secuetaky, .... C. a. TROWBRIDGE. 
 
 b 
 
 ' E. B. WARD, 
 
 EDWARD LEARNED, 
 I PELEG HALL, 
 
 C A. TROWBRIDGE, 
 A. H. SIBLEY. 
 
 Offices, Room 22, No. 52 Broadway, New- York, and 
 
 Edinburgh Assurance Buildings, 'Wellington 
 
 Street, Toronto. 
 
 gcw-fovfe : 
 
 JOHN W. AMERMAN, PRINTER, 
 No. 47 Cedaii Street. 
 
 1873. 
 
 n 
 
CHARTEE. 
 
 • >•■ 
 
 AN ACT 
 
 To LVCOKPORATE " TlIE OnTABIO INIlNERAL LaNDS 
 
 Company." 
 
 First Reading, 25th January, 1872. 
 Second " 14th February, 1872. 
 Third " 20th February, 1872. 
 Royal Assent given, 2d March, 1872. 
 
 Whereas, under and by virtue of a certain deed of con- Preamble 
 veyance, dated the thirteenth day of November, one thou- 
 sand eight hundred and seventy-one, between the Montreal 
 Mining Company, of the one part, and Alexander Hamilton 
 Sibley, Eber B. Ward, Edward Learned, Peleg Hall and C. 
 A. Trowbridge, therein described, of the second part, the 
 last named persons became seized in fee of the several min- 
 ing locations, lands and premises, therein mentioned or re- 
 ferred to, and being situate on Lakes Huron and Superior, 
 and within the districts of Algoma and Thunder Bay, upon 
 the trusts therein mentioned, and particularly doclarea in a 
 certain Deed of Trust, bearing date the second day of No- 
 vember, one thousand eight hundred and seventy, made 
 between Alexander Hamilton Sibley, of the one part, and 
 Eber B. Ward, Edward Learned, Peleg Hall, C. A. Trow- 
 bridge and A. H. Sibley, of the other part, and have paid 
 the purchase money therefor in full ; and whereas, the said 
 Alexander Hamilton Sibley, Eber B. Ward, Edward Learned, 
 
tion 
 
 Name. 
 
 Pcleg Hall and C. A. Trowbridge have petitioned for an Act 
 of Incorporation, for the purpose of carrying on mining ope- 
 rations, and otherwise carrying out the ohjects contemplated 
 by the said deed of trust ; and it is expedient so to grant: 
 Therefore Her Majesty, by and with tlte advice and consent 
 of the Legislative Assembly of the Province of Ontario, 
 enacts as follows: 
 
 Corpora- i. The said Eber R Ward, Edward Learned, Peleg Hall, 
 C. A. Trowbridge and Alexander Hamilton Sibley, and such 
 other person or persons, bodies corporate or politic, as arc 
 or may become holders of shares in the Company hereby 
 incorporated, are hereby constituted and declared to be a 
 body corporate and politic, under the name of "The Onta- 
 rio Mineral Lands Company." 
 
 Capital. 2. The capital stock of the said Company shall be one 
 
 hundred and sixty thousand dollars, paid up stock, divided 
 into sixteen hundred shares of one hundred dollars each, 
 and the said Company shall have power to increase the same 
 by the issue of new stock, as hereinafter mentioned, in shares 
 of the same amount, to an extent not exceeding eight hun- 
 dred thousand dollars. 
 
 I 
 
 Allotment 3. All the persons who, at the time of the massing of this 
 of stoub. . . " 
 
 act, are entitled to any interest under the said deed of trust, 
 
 are declared to be possessed of the capital stock of the said 
 Company, fully paid up, according to their respective inter- 
 ests in the apportionment made in the said deed of trust 
 between the beneficiaries therein mentioned ; and shall be 
 entitled to have their respective shares or interests allotted 
 to them, and to demand and receive certificates therefor, 
 upon the said Company's perfecting its organization under 
 this act. 
 
 I88CC of 4. The said Company shall be at liberty to issue further 
 
 further . 
 
 stock. stock to the extent of eight hundred thousand dollars, in 
 
 shares of one hundred dollars; and the liolders of paid up 
 
 stock, mentioned or referred to in the second section of this 
 
 act, shall have the right of subscribing for such further issue 
 
 of, 
 
an 
 
 Act 
 
 ig ope- 
 iplated 
 grant : 
 ;onsent 
 hitario, 
 
 g Hall, 
 id such 
 , as are 
 herel)y 
 to be a 
 le Onta- 
 
 1)0 one 
 divided 
 rs each, 
 he same 
 n shares 
 rht hun- 
 
 of this 
 of trust, 
 the said 
 ve inter- 
 of trust 
 shall be 
 allotted 
 therefor, 
 3n under 
 
 I 
 
 t 
 
 or issues of stoc'-', or for any part tliercof, at par, in propor- 
 tion to their respective interests in such paid up stock as 
 aforesaid; and the said Company shall be at liberty to tlx 
 a premium on such stock when the same shall be opened to 
 subscription by the public. 
 
 n. The said Alexander Hamilton Sibley, Eber B. Wanlj^j^^^ovw^n^ 
 Edward Learned, Peleg Hall and Charles A. Trowbridge 
 are hereby constituted a board of Provisional Directors of 
 the said Company, and shall hold ofiice as such until Direct- 
 ors are appointed by the shareholders of the said Company. 
 
 0. All the estate, real and i)ersonal, of whatever kind or Propciiy 
 , . . , . ,. 1 • o ^ • ^ • covcieil by 
 
 description, at the time oi tlie passing ot this act, vested jiithe Tiuet 
 
 the said Alexander Hamilton Sibley, Eber H. Ward, Edward visitii in 
 Learned, Peleg Hall and Charles A. Trowbridge, or which pany. 
 they may then be entitled to hold under or subject to the 
 trusts of the said recited deed of the second of November, 
 one thousand eight hundred and seventy, is hereby vested 
 in the said Company; and the said Company shall, in like Liabiuiy 
 manner, be liable to all contracts and obligations entered P^^'y- 
 into or ii«;urrcd by the said Alexander Hamilton Sibley, 
 Eber B. Ward, Edward Learned, Peleg Hall and Charles A. 
 Trowbridge, under the said deed of trust, or in relation to 
 the provisions thereof: Provided alwoi/s, that no part of the 
 said lands so vested in the said corporation in excess of two 
 thousand acres, shall be held for a longer period than ten 
 years from the passing of this act; and within such period, 
 such lands shall be absolutely sold and disposed of by the 
 said corporation, so that it shall not thereafter retain any in- 
 terest in any of the said lands in excess of two thousand 
 acres, and all such lands in excess of two thousand acres 
 which may not, within the said period, have been so disposed 
 of, shall revert to Her Majesty, her successors and assigns. 
 
 e further 
 ollars, in 
 paid up 
 )n of this 
 her issue 
 
 ^. It shall be lawful for the said Company to sell, lease or powers to 
 otherwise dispose of the said estate, real and personal. ""' ^^' 
 
 8. The said Company may engage in exploring for minerals. Power to 
 in mining, in smelting, and in the manufacturing and dispos- miuee, &c 
 
6 
 
 1 I 
 
 I I 
 I I 
 
 ' I 
 • I 
 
 I 
 
 ! 1 
 
 ing of minerals and materials belonging as well to the saifl 
 Company as to otli^r persons; and shall have power to do 
 all lawful acts that may be necessary or convenient for or in 
 connection with these purposes, 
 
 Toaccept 0. It shall also be lawful for the said Company, upon 
 la ' other makini; sales or leases of real or personal property, or minini? 
 
 ConipanicB ° „ . . , , ,. 
 
 ill mukiu«or nianulactunng arrangements with any bodies corporate 
 or politic, to take in consideration therefor stock and deben- 
 tures or bonds in such bodies corporate or politic. 
 
 Power to 10. The Directors of the said Comj)any, after the sanction 
 of shareholders shall have been first obtained, at a general 
 meeting to be called for from time to time for such purpose, 
 shall have power to borrow, from time to time, for the pur- 
 poses of the Comi)any hereby incor])oiated, either in this 
 Province or elsewhere, such sums of money as may be ex- 
 pedient for carrying out the objects of the said incorporation, 
 and at such rates of interest as they may deem proper ; and 
 to issue bonds, debentures or other securities for the sums so 
 borrowed, and to make the same payable cither in currency 
 or sterling, and at such place or places, within the Province 
 or elsewhere, as may be deemed advisable ; and to sell the 
 same at such prices as may be deemed expedient ; and to 
 hypothecate, mortgage or pledge the lands, revenues and 
 other i^roperty of the Company, for the due payment of 
 the said sums, and the interest thereon, but no such deben- 
 tures shall be for a less sum than one hundred dollars ; and 
 such bonds, debentures and securities shall be made and 
 signed by the President or Vice-President of the said Com- 
 pany, and countersigned by the Secretary of the said Com- 
 pany, and under the seal of the said Company ; provided, 
 that the said Company shall not be authorized to borrow a 
 sum exceeding the amount of the capital stock then paid up. 
 
 Whoehaii H. The shareholders of the said Company shall consist of 
 
 hoidew^'^' the persons in the third paragraph hereof referred to, and of 
 
 such other persons as may subscribe to any stock that may 
 
 be hereafter issued by the said Company, who shall have 
 
 fully paid up all calls upon said shares, together with the 
 
 14. 
 
 • furnii 
 
the s.iifl 
 
 k-cr to do 
 
 for or in 
 
 ny, upon 
 )r mining 
 corporate 
 1(1 dcben- 
 
 j sanction 
 a general 
 1 purpose, 
 r the p\ir- 
 ;r in this 
 ay be ex- 
 rporation, 
 )per; and 
 e sums so 
 I currency 
 
 Province 
 to sell the 
 it ; and to 
 ;nues and 
 lynient of 
 icU deben- 
 Uars; and 
 made and 
 said Corn- 
 said Com- 
 
 provided^ 
 ) borrow a 
 in paid up. 
 
 consist of 
 to, and of 
 : that may 
 shall have 
 r with the 
 
 amount of any premium on stock that may be fixed as afore- 
 said ; and every shareholder shall bo entitled to a vote for 
 every share which he shall hold. 
 
 Shares 
 thutr 
 
 12. The shares or stock of the said Company shall be^„j 
 deemed j)crsonal property, and shall be transferable in the trangfer 
 form set out in Schedule A., hereto annexed. The transfer 
 shall be registered in a l)ook to be kept by the Company for 
 that purpose, which shall be open to tlie public ; and uj»on 
 such registration, the Company shall issue certificates in the 
 form prescribed in Schedule B., hereto annexed. 
 
 13. The affairs of the said Company shall be managed by nirectoio. 
 
 their quuli- 
 
 five Directors, of whom three shall form a quorum; such flcation, 
 Directors shall be holders of not less than twenty-five shares powers, 
 in the said Company, and shall be elected annually, at an 
 annual general meeting of the shareholders, of which fourteen 
 days' notice shall be given by circular or advertisement. 
 The Directors shall elect from among themselves a President 
 and Vice-President of the said Company, and shall appoint 
 a Secretary and Treasurer ; they shall make By-Laws for the 
 government of said Company, and submit the same to a 
 meeting of the shareholders, on giving due notice ; and shall 
 make calls on stock, and prescribe the manner in which the 
 same shall be made ; and shall have power to cancel any 
 stock on which calls may remain unpaid for three months, on 
 giving reasonable notice, and to declare the same forfeited ; 
 and to employ agents or servants for any purposes connected 
 with the said Company; and shall declare dividends when- 
 ever the profits of the Company shall amount to the sum of 
 one hundred thousand dollars, or to a less amount if they see 
 fit ; and to appoint times and places for the annual general 
 meeting or other meetings of the Company; and to appoint 
 persons to fill the places of any Directors who may die, 
 resign, or become incapable of acting in the interval between 
 their appointment and the next annual general meeting. 
 
 14. It shall be incumbent on persons subscribing or who Pcreons 
 may have subscribed for stock in the said Company, to for **''^Bto?§ 
 
 I furnish to the Secretary of the said Company an address in ^uh their 
 
 addreaees. 
 
8 
 
 'I' 
 
 'I ' 
 
 writing to which all notices shall be sent ; and it shall be 
 suflicient to send to that address all noticcc relatiuir to ealls 
 and forfeiture, or cancellation of stock and all other notices ; 
 and if such address be not given, such notices shall be 
 deemed sufficiently served, if inserted three times in the 
 Ontario Gazette, and once in each week for tlirce weeks, in 
 a daily newspaijcr published in the City of Toronto. 
 
 F^Btabibh- 15. The Diroctors shall have authority to establish places 
 CM. or offices for the business of the Company in such jdaces as to 
 
 them shall seem proj)cr, and to have books at sueh places 
 for the subscription and transfer of shares, and for the trans- 
 action of any business of the Company thereat, including 
 shareholders' meetings, if the shareholders themselves shall 
 so approve, and to employ agents for that purpose ; the 
 principal office of the Company shall be within the Province 
 of Ontario. 
 
 i 
 
 I I 
 
 Books to 10. The Directors shall also keep, at some convenient place 
 
 be koDt ftt 
 
 Toronto, in the City of Toronto, in the Province of Ontario, a book 
 or books containing a true and correct copy of the subscrip- 
 tions and transfers of stock, with such addresses as afore- 
 said, collated from the various subscription and transfer 
 books of the said Company, and the same shall be open to 
 inspection by the public at all reasonable times ; such books 
 shall also show what amounts have been paid on stock, or 
 what amounts remain unpaia thereon ; and notice of the 
 place so appointed shall be given in the Ontario Gazette, 
 and a daily newspaper published in the City of Toronto, 
 once a A\eek for four weeks. 
 
 Service of 
 procoBi. 
 
 IV. Service of process in any action, suit, matter or pro- 
 ceeding, may be made by leaving a copy thereof at the 
 place referred to in the last preceding section, or personally 
 on any one of the Directors. 
 
 an( 
 
 Right of 18. Aliens may be shareholders and Directors and officers 
 holders, of the said Company. 
 
 Liabjiuy 19. Nothing in this act contained shall relieve the said 
 of Sibley ** 
 
 etti. Alexander Hamilton Sibley, Eber B. Ward, Edward Learn- 
 
it sliall 1)C 
 iiiir to calls 
 jcr notices ; 
 (9 sliull be 
 mes in the 
 ?c weeks', in 
 nto. 
 
 iblish places 
 places as to 
 such places 
 or the trans- 
 t, including 
 iiselves shall 
 lurpose ; the 
 he Province 
 
 renient place 
 tario, a book 
 the subscrip- 
 !C8 as afore- 
 ancl transfer 
 11 be open to 
 ; such books 
 on stock, or 
 loticc of the 
 ario Gazette, 
 J of Toronto, 
 
 natter or pro- 
 Hereof at the 
 or personally 
 
 0(1, IVIi",' II.iU anil C. A. Trow brldi^'c, or any of thcni. from 
 any liahiliiy oxistiii;^' ;it \\ui tiiuf ul' the passing of this act 
 under the said deed uf trust. 
 
 rs and officers 
 
 SCHKDULE A. 
 
 I, in consideration of the 
 
 sum of dollars, paid to me by 
 
 of do hereby bargain, sell and transfer 
 
 to the said and his executors, adminisD : ors 
 
 ami assigns, or such persons as by law may become enliilcd 
 to his or their personal property, 
 
 shares in "The Ontario Mineral Laikls Company," subject 
 to the saint ., .'s and orders, and on the same conditions, 
 that T held the same immediately Ih fore the cvecutiou 
 hereof. 
 
 And T, the said do hereby accept 
 
 of the said shares, subject lo the same 
 
 rules, orders and conditions. 
 
 As witness our hands, this 
 
 day of 
 
 A. D. 18 
 
 SCHEDULE B. 
 
 This is to certify, that is a holder of 
 
 shares in " The Ontario Mineral Lands Company," of the 
 par value of upon which the sum of 
 
 has been paid up. 
 
 Given under the hands of the President and Secretary, 
 and under the seal of the said Company, this day of 
 
 A. D. 18 . 
 
 i 
 
 ilieve the said 
 Idward Leara- 
 
III 
 
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 lilt 
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 *. 
 
 MI ]sr U TE s 
 
 OP THE 
 
 %mml (General l^ceting of tbe ^^^vtMHim, 
 
 The first annual general meeting of the shareholders of the 
 Ontario Mineral Lands Company was duly called for the 30th day 
 of December, 1872, at 12, M. 
 
 On that day, 1,122 shares being represented, either in person or 
 by proxy, Alexander H. Sibley, Esq., the President, took the 
 Chair, and the following proceedings were thereupon had : 
 
 I The following resolutions, moved by F. E. Kernochan, Esq., and 
 * seconded by George S. Coe, Esq., were unAnimousIy adopted: 
 
 Mcsolution 1. liesolved, That Room 22, Number 52 Broadway, 
 in the City of New-York, is hereby apprcvKl of as the office or 
 
 |j)lace for the transaction of the business of the Company, for the 
 subscription and transfer of shares, and for holding the meetings 
 
 [of shareholders thereat. 
 
 liesolution 2. T^esolved, That the shareholders, having heard the 
 report of the Directors read, as well as their statement of the 
 {transactions of the Trustees under the Trust Deed of the 2d of 
 [November, 1870, do hereby approve of and adopt the same. 
 
 ItesoluHon 3. Resolved^ That the By-LaAVS, now submitted by 
 [the Board of Directors, for the government of the Company, are 
 [hereby approved of. 
 
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 12 
 
 JResoluflon 4. Resolved, That the following persons, being 
 respoctivoly holders of not less than twenty-tive shares in the 
 capital stock of the Company, are hereby duly elected the Direc. 
 tors of the Company for the ensuing year, and until the next 
 annual general meeting of the shareholders of the Company : 
 
 Edeb B. Ward, of Detroit, Michigan. 
 Edwakd Learned, of Pittsfield, Massachusetts. 
 Peleg Hall, of New- York City. 
 Charles A. TuowimiDGE, of New- York City. 
 Alexander H. Sihley, of Silver Islet, Ontario. 
 
 On motion, the meeting adjourned. 
 
 Charles A. Trowbridge, 
 Secretary. 
 
 At a meeting of Directors, held on the same day, Alexander H. 
 Sibley was elected President, and Peleg Hall, Vice-President; 
 Charles A. Trowbridge was appointed Secretary, and Edward 
 Learned, Treasurer; all to hold office during the ensuing year, or 
 until their successors are elected or appointed. 
 
 It was also resolved, that the Charter, By-Laws and Report of 
 the Trustees be printed for distribution to the shareholders. 
 
 On motion, the meeting adjourned. 
 
 Charles A. Trowbridge, 
 Secretary. 
 
 the 
 
 of]; 
 
 who. 
 
 Wen 
 
 am ill; 
 
 Com 
 
 •xpk 
 
 ^pi 
 
 ||iFor( 
 
 ^ 18 
 
 treat 
 
 pany 
 
 sue)) 
 
 pi.' 
 
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 ^ral 
 
 ^ere 
 
 Its 
 
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 pniii^ 
 
sons, being 
 ai'cs in the 
 I the Direc. 
 X\ the next 
 ipany : 
 
 I 
 
 # 
 
 REPORT. 
 
 I'DRIDGB, 
 
 Secretary. 
 
 Alexander H. 
 
 ice-President ; 
 
 and Edward 
 
 suing year, ov 
 
 and Report of 
 holders. 
 
 )WBRIDGE, 
 
 Secretary, 
 
 The Trustees of the " Canada Lands Purchase" have the honor 
 %o submit the following report to the sharehoklers of " The On- 
 tario Mineral Lands Company :" 
 
 On the 2Sth July, 1847, by ChaptcB G7 of 10 and 11 Victoria, 
 Statutes of Canada, a Company, called " The Montreal Mining 
 Company," was incorporated, with power to acquire mineral lands 
 on the north shores of Lakes Superior and Huron, and to explore, 
 develope, issue, sell, lease or otherwise dispose of them. That 
 the Company, uniler its charter, got patents for a large quantity 
 of lands, located under the advice of Professor Forrest Shepherd, 
 who, during the year 1 8*46, with from 80 to 90 men, most of whom 
 were miners and explorers of experience, had made thorough ex- 
 aminations of the country bordering on Lake Superior. The 
 Company finding, after a considerable expenditure of money in 
 exploring and developing, that these lands could not be Uinied 
 ^o profitable account without a much larger outlay than could be 
 Afforded, a resolution was passed at the annual general meeiing 
 in 1 86."), authoj'izing ''the Directoi's, duriug the ensuing yea'*, <o 
 treat for the sale or lease of the whole or any part of the Com- 
 pany's property, and to sell and dispose of, or lease the same, on 
 8uch terms and conditions of payment, as may appear to the 
 Directors advisable and for the Company's benefit." 
 
 A similar resolution Avas passed annually at the successive gen- 
 eral meetings of that Company ; and, in the meantime, efforts 
 were maije in England, with tlie view of inducing British capital- 
 fcts to purchase the Company's lands, or to join in developing or 
 ttiining them. ^ 
 
14 
 
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 I 
 
 
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 Assays were made by Professors Chapman, Dawson, Macfar- 
 lane and others, in Canada, and Dr. Hayes, of Boston, which 
 indicated the existence of extraordinarily rich ores of silver on 
 these lands, and especially on Silver Islet. 
 
 On the recommendation of Mr. Thomas Macfarlane, then acting 
 as the Superintendent of the Company, a small force was em- 
 ployed in making explorations and doing mining work, on and 
 about Silver Islet, in the years 1868 and 1889; and during the 
 Avinter of 1869 and 1870, a shaft was sunk on the Islet to the 
 depth of about 17 feet, when work was stopped in consequence 
 of the influx of water. 
 
 The Hon. Thomas Ryan, then President of the Company, en- 
 deavored to procure the assistance of English capitalists in Lon- 
 don, but reported on the 9th March, 1870, as appears from the 
 minute-book, " that altliough lie gave some time and attention to 
 the I latter in London, he found little disposition to embark capi- 
 tal in distant mining enterprises." At the same meeting it was 
 also reported, that Messrs. McDougall and Davidson, who had 
 made a conditional offer for a portion of these lands, including 
 Silver Islet, " after a lapse of four months, found themselves una- 
 ble to accomplish the formation of the Company in England." 
 
 Subsequently, negotiations were carried on between the Montreal 
 Directors and certain parties in Montreal, who again endeavored 
 to i^lace the property in England, where they partially succeeded 
 in negotiating a sale ; but not being able to provide all the money 
 needed, the English parties telegraphed to Alexander H. Sibley, 
 in August, 1870, in New- York, offering one-half the property on 
 the terms of a bond, which would expire on the first of September. 
 The offer was accepted by Mr. Sibley, who went to Montreal ; 
 and, on the day when the first instalment was to be paid over, the 
 English parties, represented by a solicitor sent from London, de- 
 clined the purchase, withdrew, and left Mr. Sibley to find the 
 whole amount, or abandon the purchase. 
 
 Having succeeded in getting some other persons to join with 
 him, Mr. Sibley became the purchaser of the whole of the Montreal 
 Mining Company's property for himself and them, for $225,000, 
 in gold; payable, cash, 150,000; 1st January, ?87l, $50,000; 1st 
 July, 1871, $50,000, and the balance in September, 1871,' through 
 a transfer of the following instruments : 
 
 and 
 
 two 
 
 Mont 
 
 Enc 
 
 lute 
 
 is hei 
 
 Tollo) 
 
 Septc 
 
 land 
 
 drcd 
 
 July, 
 
 five t 
 
 sand 
 
 per c 
 
 thous 
 
 Hont 
 
 Ourse 
 
 Alex 
 
 fund 
 
 iiani 
 
15 
 
 1, Macfar- 
 
 on, rvliicb 
 
 silver on 
 
 hen acting 
 3 -was em- 
 i-k, on and 
 luring the 
 slet to the 
 jnsequence 
 
 mpany, cn- 
 ists in Lon- 
 •8 from the 
 ittention to 
 nbark capi- 
 eting it was 
 1, who had 
 s, inchiding 
 iselves una- 
 ngland." 
 the Montreal 
 
 endeavored 
 y succeeded 
 1 the money 
 iv H. Sibley, 
 property on 
 f September, 
 o Montreal ; 
 aid over, the 
 
 London, de- 
 r to find the 
 
 to join with 
 the Montreal 
 for $225,000, 
 $50,000; 1st 
 871,' through 
 
 A. 
 
 KXOW ALL WHOM IT MAY CONCERN', That WC, TuE MONTREAL 
 
 Mining Company, a body corporate and politic, duly incorporated 
 by statute of the heretofore Province of Canada, Tenth and Elev- 
 enth Victoria, chapter G8, are by these presents, sealed with our 
 seal, and signed by Robert Anderson, Esquire, Vice-President of 
 the said Company, and countersigned by Nathaniel J. Handyside, 
 our Secretary, held andfnnly hound to Edward Alexander Pren- 
 tice, heretofore of the City of Montreal, in the Province of Quebec, 
 in the Dominion of Canada, at present at London, in England, in 
 the manner hereinafter declared, subject to the conditions herein- 
 after stated : 
 
 W7iereaSy the said Edward Alexander Prentice hath agreed to 
 purchase from us, the said Montreal Mining Company, the whole of 
 the real estate of us, the said Montreal Mining Company, on Lakes 
 Superior and Huron, including all the real estate owned by us, the 
 said Montreal Mining Company, in the District of Algoma, in the 
 Province of Ontario, at and for the price or sum of two hundred 
 and twenty-five thousand dollars, currency of Canada, whereof 
 two thousand dollars have been paid to the credit of us, the said 
 Montreal Mining Company, into the Bank of Montreal in London, 
 England, at and before the delivery of these presents, as an abso- 
 lute forfeiture, not to be returned in any event, the receipt whereof 
 is hereby acknowledged, and the balance whereof is to be paid as 
 follows, to wit : Forty-eight thousand dollars on the first day of 
 September, one thousand eight hundred and seventy ; fifty thou- 
 sand dollars on the first day of January, one thousand eight hun- 
 dred and seventy-one ; fifty thousand dollars on the first day of 
 July, one thousand eight hundred and seventy-one, and seventy- 
 five thousand dollars on the thirtieth day of September, one thou- 
 sand eight hundred and seventy-one, the whole at the rate of six 
 per centum per annum from the said first day of September, one 
 thousand eight hundred and seventy, until paid. We, the said 
 Montreal Mining Company, therefore undertake and acknowledge 
 ourselves obliged and hound to and in favor of the said Edward 
 i^lexander Prentice, on payment by him of the said sum of two 
 iundred and twenty-five thousand dollars, and interest, in the 
 iaanner and within the times above stated, to grant, execute and 
 
if ll 
 
 I 
 
 16 
 
 deliver to him, the said Edwarcl Alexander Prentice, his heirs or 
 assigns, a good or sufficient conveyance or conveyances, in fee 
 simple, assuring to him, his heirs and assigns, valid and sufficient 
 title to the said real estate, free Irom encumbrances, subject only 
 to the reservations of the Crown, as contained in the original let- 
 ters patent, and subject to the laws generally in force concerning 
 lands in the said District of Algoma, in the said Province of On- 
 tario, which said real estate, until more fully described, is indi- 
 cated by the following enumeration, to wit : 
 
 Mamainse Location, containing about six thousand four hundred 
 acres ; Location near Cape Mamainse, containing about four thou- 
 sand eight hundred acres ; McGill's Location, containing about 
 six thousand four hundred acres ; Turner's Location, containing 
 about six thousand four hundred acres ; Harrison's Location, con- 
 taining about six thousand four hundred acres ; Ferrier's Loca- 
 tion, containing about six thousand four hundred acres ; Lyman's 
 Location, containing about six thousand four hundred acres ; 
 Merritt's Location, containing about six thousand four hundred 
 acres ; Bagg's Location, containing about six thousand four hun- 
 dred acres ; Ewart's Location, containing about six thousand four 
 hundred acres ; Derbishire's Location, containing about five thou- 
 sand two hundred and thirty acres ; Wood's Location, including 
 the property known as the Silver Islet, containing about six thou- 
 sand four hundred acres ; Wilson's Location, containing about 
 seven thousand two hundred acres ; Hopkirk's Location, contain- 
 ing about five thousand four hundred and sixty-eight acres ; Jar- 
 vis' Location, containing about six thousand four hundred acres ; 
 Stewart's Location, containing about six thousand four hundred 
 acres ; Ryan's Location, containing about six thousand four hun- 
 dred acres ; and a lot of land at the northern extremity of the 
 Bruce Location, Lake Huron, containing about twelve hundred 
 acres. 
 
 We, the said Montreal Mining Company, do hereby also further 
 bind and oblige ourselves, in the event of the said Edward Alex- 
 ander Prentice first T)ayin£; to us, the said Montreal Mining Com- 
 pany, the said sum of forty-eight thousand dollars, so to be paid 
 on the first day of September, one thousand eight hundred and 
 seventy, after such payment shall have been made, or after he 
 
 
11 
 
 lis heirs or 
 CCS, in fee 
 1 sufficient 
 hject only 
 riffinal let- 
 3oncei'ning 
 nee of On- 
 ed, is indi- 
 
 ur hundred 
 i four thou- 
 niug ahout 
 
 containing 
 cation, con- 
 fier's Loca- 
 3 ; Lyman's 
 Ired acres ; 
 ur hundred 
 d four hun- 
 onsand four 
 it five thou- 
 1, including 
 ut six thou- 
 ining about 
 on, contain - 
 
 acres; Jar- 
 
 dred acres ; 
 
 ur hundred 
 id four hun- 
 jmity of the 
 
 ve hundred 
 
 also further 
 I ward Alex- 
 lining Com- 
 o to be paid 
 undred and 
 
 or after he 
 
 ;^ shall have paid any of the additional instalments in the manner 
 <^ hereinbefore specified, and he not being at the time in default in 
 ^f respect of any of the said payments, to sign, seal, execute, give, 
 '% grant and deliver to him, or to his heirs or assigns, at his or their 
 ' request, good and sufficient deeds conveying to him, his heirs or 
 assigns, the -yhole of the said real estate, and vesting him or them 
 with the title thereto : Provided always, and ujion the express 
 condition, that he or they do, at the same time, at his or their costs 
 and charges, sign, seal, duly execute and deliver to us, the said 
 Montreal Mining Company, a re-conveyance, by way of first mort- 
 gage, of the said real estate, securing to i\p, the said Montreal 
 Mining Comjiany, the balance which may at the time be remain- 
 ing due to us, the said Montreal Mining Company, of the said sum 
 of two hundred and twenty-five thousand dollars, and the interest 
 accrued and to accrue thereon, at the time and in the manner 
 above specified, with power to us, the said Montreal Mining Com- 
 pany, in case of default made in any of the remaining payments, 
 to sell the said real estate at the cost, risk and charges of the said 
 Edward Alexander Prentice, his heirs or assigns. 
 
 Provided always, that should the said Edward Alexander Pren- 
 tice, his heirs or assigns, fail to make the said payment of forty- 
 eight thousand dollars, currency, on or before the first day of 
 September, one thousand eight hundred and seventy, then these 
 presents shall become utterly null and void, and the said sum of 
 itwo thousand dollars shall remain absolutely and for ever forfeited 
 Jto us, the said Montreal Mining Company, and the payment by 
 ^the said Edward Alexander Prentice of the said sum of two thou- 
 sand dollars shall be evidence of the acceptance by him of these 
 fjpresents, under the conditions herein contained. 
 
 Signed, sealed, duly executed and delivered, at the City of 
 , Moni,real, in the Province of Quebec, in the Dominion of Canada, 
 "this twenty-fifth day of May, one thousand eight hundred and 
 seventy. 
 
 ■^- [SKAL.] ROBT. AnDBBSON, 
 
 Yice-P)'esident Montreal Mining Co. 
 
 i N. J. Handyside, 
 
 Secretary Montreal Mining Co. 
 
 2 
 
18 
 
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 I'lHI 
 » 'III I 
 
 Extract from the Minutes of the Proceedings of the Directors of 
 the Montreal Mining Company, at a meeting held at their office, 
 in Montreal^ the 25th May, 1870 : 
 
 PreBent, — Robert Andekson, Esq., Vice-President, in the Chair. 
 Dr. Geobge W. Campbell, 
 Hekby Mulbolland, 
 James Hctton, 
 Alexander Cross, 
 
 Pirectors. 
 
 Pesolved, That the Bond now submitted to the Board, pledging 
 the Company to sell all their real estate on Lakes Superior and 
 Huron, in the District of Algoma, to Edward Alexander Prentice, 
 Esquire, for the sum of $225,000, currency, on the teiros therein 
 stated, be approved of, and that Robert Anderson, Esquire, Vice- 
 President, be authorized to sign, seal, duly execute and deliver 
 the same in due form of law, and that Nathaniel J. Handyside, 
 Esquire, Secretary, be authorized to countersign the same. 
 
 [seal.] Root. Andersow, 
 
 VieC'President Montreal Mining Co. 
 N. J. Hakdtside, 
 
 Secretary Montreal Mining Co. 
 
irectors of 
 their office, 
 
 19 
 
 the Chair. 
 
 •a, pledging 
 luperior antl 
 ler Prentice, 
 jnns therein 
 squire, Vice- 
 and deliver 
 Handyside, 
 
 same. 
 
 aw, 
 Mining Co. 
 
 Know all mkn by these presents, That I, Edward Alex- 
 ander Prentice, of the City of Montreal, in the Dominion of 
 Canada, Esquire, in consideration of one dollar, of lawful money 
 of Canada, to uie in hand paid by Alexander Hamilton Sibley, of 
 the City of Detroit, in the State of Michigan, Esquire, and for 
 divers other valuable considerations moving from him to me, do 
 by these presents grant, bargain, sell and assign to hun, the said 
 Alexander Hamilton Sibley, his heirs and assigns, all andsingvlar 
 the within written bond or contract of sale, dated the twenty-fifth 
 diay of May, one thousand eight hundred and seventy, whereby 
 the Montreal Mining Company, for the payments therein men- 
 tioned, bind and oblige themselves to sell and convey to me, the 
 said Edward Alexander Prentice, all and singular the several 
 parcels and tracts of land within mentioned ; to have and to hold 
 the same unto the said Alexander Hamilton Sibley, his heirs and 
 assigns, as fully and eflfectually as I, by virtue of the said bond or 
 obligation, or in any other manner whatsoever, hold the same. 
 And I do hereby covenant with the said Alexander Hamilton Sib- 
 ley, that. I have good right to transfer and assign the said within 
 mentioned premises, free from incumbrances, and that I will exe- 
 Opite such further assurances thereat as may be requisite. 
 VWitness my hand ,and seal, this first day of September, A. D. 
 UlO. 
 
 Edw. Alex. Prentice, [seal.] 
 
 Signed, sealed and delivered ) 
 in presence of \ 
 
 Adam Crooks. 
 
20 
 
 '•■, 
 
 III 
 
 Tins Indenture, made the first day of September, eighteen 
 hundred and seventy, between Alkxandek Hamilton SntLEY, of 
 the City of Detroit, in tlie State of Micliigan, Esquire, of the one 
 part, and Edward Alexander Prentice, of the City of Montreal, 
 in the Dominion of Canada, Esquire, of the other part : 
 
 iV/iereaSf the said Edward Alexander Prentice, under a certain 
 bond or contract of sale, dated the twenty-fifth day of May, 
 eighteen hundred and seventy, executed by the Montreal Mining 
 Company, is entitled, subject to the payment of the sums of money 
 therein mentioned, to the parcels and tracts of land therein men- 
 tioned, and being eighteen mining locations in all, situate on Lakes 
 Superior and Huron, in the Districtof Algoma, in the Province of 
 Ontario : 
 
 And whereas^ the said Alexander Hamilton Sibley, under and 
 in conjunction with William B. Frue, claims to be in possession 
 of, and under a miner's license issued to said William B. Frno. 
 entitled to work a certain silver vein or lode near to the island 
 called Silver Islet, situate in the location termed " Wood's Loca- 
 tion," in said bond or contract of sale : 
 
 And whereas, it has been agreed between the said Alexander 
 Hamilton Sibley and the said Edward Alexander Prentice, that all 
 the rights of the said Edward Alexander Prentice, under his saiil 
 contract with the Montreal Mining Company, and of the said 
 Alexander Hamilton Sibley and William B. Frue, under the said 
 Mining License, should become vested in the said Alexander 
 Hamilton Sibley, in order that he should hold the same upon and 
 for the trusts and purposes following : 
 
 And whereas, in part pursuance of the said recited agreement, 
 the said Edward Alexander Prentice hath, by deed bearing evet 
 date herewith, duly granted and assigned the said bond or cob 
 tract of sale to the said Alexander Hamilton Sibley ; and the saio 
 Alexander Hamilton Sibley, on his part, agrees with the sal 
 Edward Alexander Prentice to procure the concurrence of the saii 
 William B. Frue with these presents, and to do and execute an; 
 act or deed on his part that may be necessary for effectuating tli 
 
 In 
 to 
 
 ■til 
 pji 
 A 
 to 
 
 th; 
 
 im 
 
 ow 
 
 Ed 
 
 am 
 
 .•uc 
 
 Hai( 
 
 Isle 
 
 aftc 
 
 afoi 
 
 1 
 
 and 
 
 to] 
 
 into 
 
 deci 
 
 said 
 
 shall 
 
 res|J 
 
 rfthoj 
 
 ■4« 
 
91 
 
 jr ciglitcen 
 
 f SlUI'KY, of 
 , of the one 
 of Montreal, 
 
 fler a certain 
 lay of May, 
 tvcal Mining 
 ims of money 
 therein men- 
 late on Lakes 
 e Province of 
 
 sy, under and 
 
 in possession 
 
 liam 13. Fnio, 
 
 to the island 
 
 Wood's Loca 
 
 lid Alexander 
 entice, that all 
 
 under his sai'l 
 lid of the sni'i 
 under the siiii 
 
 lid Alexander 
 same upon and 
 
 .ed agreement, 
 I bearing evei 
 I bond or ecu 
 f ; and the sai> 
 with the sai 
 enee of the sai' 
 id execute an; 
 eflfectuating tli 
 
 [intent hereof, and also agrees to pay into the Bank of Montreal, 
 Uo tho credit of the said Mining Company, the sum of forty-eight 
 thousand dollars, being the instalment of the purchase money 
 payable on this date, and also to refund to the said Edward 
 Alexander Prentice the sum of two thousand dollars paid by him 
 to said Company on re<pie8t, after ten days' previous notice : 
 
 Xoir tJh'se 2^resenU witness, tixMWi is hereby declared and agreed, 
 that the said Alexander Hamilton Sibley shall hold the said above 
 mentioned premises in trust for himself and his associates as 
 owners of nine-tenths parts or shares thereof, and for the said 
 Ednard Alexander Prentice as owner of one-tenth part thereof; 
 ond that he shall and will procure from the said William B. Fruc 
 «uch reh'ase, assignment or other transfer of any rights of his, tljo 
 Maid William B. Fruc, in the said silver vein or lode near Silver 
 Islet, as may be necessary to vest the same immediately here- 
 after in him, the said Alexander Jlamilton Sibley, in the trusts 
 aforesaid. 
 
 That the future operations with respect to the said premises, 
 and as to disposing of the same, or any part thereof, shall be left 
 to be determined \\\^o\\ as may be best for the benefit of all parties 
 interested in the said trust, as a majority in interest of them may 
 decide upon ; it, however, being understood and agreed, that the 
 said one-tenth interest of the said Edward Alexander Prentice 
 shall not become or be made liable to any calls or payments in 
 respect thereof, except his quota or one-tenth of the sum of twenty 
 * thousand dollars, requisite to be raised for working capital ; and 
 in lieu of the hereinbefore mentioned two thousand dollars beins: 
 paid to the said Edward Alexander Prentice, it may be retained 
 by the said Alexander Hamilton Sibley in lieu of the said Edward 
 Alexander Prentice's quota of working expenses. 
 
 That a sum not exceeding the sum of one thousand dollars be 
 paid out of the first earnings from operations in any of the mines 
 on the lands above mentioned, to the said Edward Alexander 
 Prentice, to reimburse legal and other expenses incurred by him 
 in connection with this work, in London, England, and in Mon- 
 treal. 
 
 Edw. Alex. Prentice, [seal.] 
 
 , A. H. Sibley. [seal.] 
 
 Witness : 
 
 Adam Crooks. 
 
22 
 
 itiili 
 
 Hit}: 
 
 III;)! 
 
 iiiai 
 'Mliti 
 
 -4!:!; 
 
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 ••II ' 
 
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 1 1 mi 
 
 Mil* 
 
 After making the purchase, Mr. Sibley sent a telegram from 
 Montreal to thateflcct, to Capt. William 13. Frue, at Houghton. 
 Michigan, who chartered a steamer at once, anil crossed the Lake 
 with about thirty men, mining tools, supplies, t&c., the steamer 
 towing a large scow and lieavy raft of timber, to commence the 
 construction of a breakwater, for Silver Islet, which the Montreal 
 Comi)nny had failed in mining successfully. 
 
 Capt. Frue and party commenced work on the second of Sep- 
 tember, 1870, and a breakwater and cofter dam were constructed) 
 which enabled him to begin mining in about thirty days, in 
 November a heavy gale carried away a part of this structure, but 
 it was rejiaired, and mining resumed, though under great diffi- 
 culty, as boisterous weather prevailed most of the time durint> 
 the winter. On the 8th of March following, a heavy sea driving 
 a large body of ice, carried away nearly half the crib work, filling 
 the mine and coffer dam with ice and water. Mining was not 
 resumed until the 10th May, 1871, since which time it has been 
 carried on uninterruptedly. 
 
 The title to the whole property remained vested in Alexander 
 H. Sibley until the second day of November, 1870, when it Avas 
 deemed desirable that it should be put in a different shape ; and, 
 accordingly, a deed and declaration of trust were executed, of 
 which the following is a copy : 
 
 This Indentuke, made and concluded this second day of No- 
 vember, A. p. 1870, by and between Allxandee H. Sibley, of 
 Detroit, Michigan, party of the first part, and Eber B. Ward, of 
 Detroit, Michigan, Edward Learned, of Pittsfield, Massachu- 
 setts, Peleg Hall and Charles A. Trowbridge, of the City of 
 NeAv-York, and Alexander H. Sibley, of Detroit, Michigan, par- 
 ties of the second part, witnesseth : 
 
 That Whereas, the Montreal Mining Company, a corporation 
 existing under the laws of the Dominion of Canada, on the twenty- 
 fifth day of May, A. D. 1870, by instrument in writing, a copy 
 whereof is hereto annexed, and made a part hereof, marked A.,* 
 agreed to transfer and convey to Edward Alexander Prentice, of 
 Montreal, Canada, all and singular certain lauds and properties 
 
23 
 
 ercin doflcribed, in said Dominion of Canada, upon terms and 
 •onditioiiB in said iuHti-uniunt sot forth : 
 
 And Wiieukas, said Edward Alexander Prentice, on the firgt 
 day of Soptcmber, A. D. 1870, by instrument in writing, a copy 
 whereof is hereto annexed, and made a part hereof, marked B.,* 
 did assign aiul transfer the aforesaid bond or contract of sale of 
 the said Montreal Mining Company, to Alexander II. Sibley : 
 
 And WngicKAS, a further instrument in writing, a copy whereof 
 i§ hereto annexed, and made a part hereof, marked C.,f was, at 
 the same tin)e, to wit, the first day of September, A. D. 1870, exe- 
 cuted by and between said Prentice and Sibley, relating to said 
 property, and also to thr claims of rights of one William B. Fruc : 
 And WirEREAS, the s;.id Alexander II. Sibley, in the foregoing 
 transactions, acted for himself and sundry other persons interested 
 with him; and it is now deemed desirable that the interests of all 
 parties concerned shall bo defined, and the rights or properties so 
 Acquired shall be held in a manner the better to protect the same 
 from any contingencies which might prejudice the interests of the 
 several parties entitled thereto : 
 
 Thkhefoue, the said Alexander II. Sibley, in consideration of 
 
 the premises, and of onu dollar, lawful money of Ihe United States, 
 
 to him in hand paid, the receipt whereof is hereby acknowledged, 
 
 hereby sells and assigns to the parties of the second part hereto, 
 
 as Trustees, for themselves and certain other parties entitled to 
 
 interests hereinafter specified, the said bond or contract of sale, 
 
 assigned to him, the said Sibley, by the said Edward Alexander 
 
 Sibley, of Pfentice, as aforesaid ; subject, however, to the provisions of the 
 
 33. Ward, ot intfH^ instrument hereto annexed, marked C, in so far as the same re- 
 
 Massachu- liites to the one tenth interest therein reserved to the said Prentice : 
 
 ■ the City of To have and to hold the same, by themselves, their success- 
 
 ichigan, par- oxs or assigns, as fully and effectually as the said Sibley, by virtue 
 
 of the said bond, contract or assignment, or in any manner what- 
 
 corporation soever, does or can hold the same ; and the said Sibley hereby 
 
 the twenty- c<W6na»«s with the said parties of the second part, Trustees as 
 
 ting, a copy aforesaid, that he has good right to, and does, transfer and assign 
 
 marked A.,* the same, free and clear from any lien or incumbrance made or 
 
 Prentice, of satfered by him ; and that he will, at all times, execute such fur- 
 
 d properties ther assurances therefor as may be necessary. 
 
 prram from 
 Houghton, 
 jd the Lake 
 he steamer 
 iraence the 
 10 Montreal 
 
 ond of Sep- 
 jonstructetl) 
 f days. In 
 ructure, but 
 • great difti- 
 Lime durinu" 
 sea driving 
 work, filling 
 ng was not 
 it has been 
 
 Q Alexander 
 
 vhen it was 
 
 shape; ami, 
 
 executed, of 
 
 day of No- 
 
 •5 
 
 * Seo page 19. 
 
 t Sm page 80. 
 
' 
 
 ^w> 
 
 '^\ 
 
 MM* 
 
 24 
 
 And the said parties of the second part hereby accept the assign- 
 ment herein made by said Sibley to said parties of the second part, 
 as Trustees, for themselves and other parties as aforesaid ; ami 
 hereby declare the interest of themselves and such other parties 
 therein to be as follows ; and further declare the terms and condi- 
 tions upon which such trust is made and accepted to be as follows : 
 
 First. — That the Trustees shall hold and manage the property, 
 whether in its present form unde the assignment above mentionecl. 
 or when the more full title contemplated shall have been obtaineil, 
 or in any intermediate state or form thereof, in such manner, in 
 all respects, as they, or a majority of them, shall determine, witli 
 power to sell or dispose of the whole or any part thereof, at such 
 times and for such considerations as a majority of said Trustees 
 shall agree upon ; provided, however, that the management and 
 disposition of the property, in whole or in part, may, at any ami 
 all times be controlled and directed by a majority in interest of the 
 owners or their legal representatives. 
 
 Second. — That in the management or disposition of the proper- 
 ty, the parties of the second part shall not, by themselves or their 
 agents, involve any of the other parties owning interests in any 
 liability to pay money, otherwise than such suras as may become 
 due for such portions of purchase money unpaid. The Trustees 
 shall have the right to pledge, mortgage or hypothecate any por- 
 tion of the property, or any proceeds thereof, at any time or 
 times, to secure, pay or reimburse any moneys they, or other par- 
 ties by their direction, may have paid or become liable to pay, for 
 or on account of the property, or operations upon or relating to it 
 
 nUrcl. — The Trustees are hereby authorized to use their discre 
 tion in reference to making further payments on account of the 
 purchase of said property ; but, in the event of such payment? 
 being made or undertaken, they shall have the right to do all ne- 
 cessary or desirable acts in reference thereto, including that of 
 mortgaging the property. 
 
 Fourth. — The Trustees shall elect from their number a Presi 
 dent. Secretary and Treasurer of their Board, and make and cs 
 tablish such rules for the management of the business as they shall 
 deem expedient. A majority of the Trustees shall constitute a 
 
m 
 
 ot tlie assigr.- 
 secondpart, 
 jresaid ; ami 
 Dther parties 
 IS and condi 
 e as follows : 
 
 he property, 
 e mentioned, 
 een obtained, 
 h manner, in 
 ermine, witli 
 ereof, at such 
 said Trustees 
 lagement anil 
 y, at any and 
 interest of the 
 
 >f the proper- 
 elves or their 
 :erests in any 
 
 may become 
 The Trustees 
 cate any por- 
 any time or 
 
 or other par- 
 ►le to pay, for 
 relatinj; to it 
 
 e their discre 
 ccount of the 
 ich payments 
 t to do all Ho- 
 lding that of 
 
 nber a Presi 
 make and es 
 ( as they shall 
 1 constitute a 
 
 25 
 
 quorum, and may do and perform all acts which the Trustees arc 
 authorized to do ; and in case of the death or resignation of any 
 Trustee or Trustees, the right to resign being hereby specifically 
 granted, tlie vacancy thereby occasioned shall be filled by a vote 
 of the majority of the remaining Trustees, and the person so se- 
 lected sliall be vested with all the rights and powers of a Trustee, 
 as fully and effectually as if he had been created a Trustee by this 
 instrument, upon executing upon this agreement, or sop^^^ duly 
 authoii ',ed counterpart hereof, his assent to and acceptance of 
 Buch trust. 
 
 Fifth. — The Trustees shall in no case be responsible for any other 
 than tlieir own individual action, nor in any manner responsible 
 for any act or omission, except willful malfeasance. 
 
 Sixth. — The Trustees shall make and deliver, to any party in 
 interest demanding the same, a certificate in writing, to be pre- 
 pared and made in such terms as the Trustees shall determine, 
 and to be signed by the President and Secretary, and counter- 
 signed by the Treasurer, declaring the interest in this agreement 
 to which such party is entitled. And thereafter such certificate 
 shall be and be taken to be the only evidence of such party, or his 
 assigns or legal representatives, of any interest in this agreement, 
 or in the property to which it relates. Such certificates may be 
 made divisible, and to be assignable and transferable on the books 
 of the Trustees, on their surrender and cancellation ; whereupon 
 new certificates will be issued to the persons entitle'^, thereto, pro- 
 vided, however, that no party shall be entitled to any such certifi- 
 cate until he shall have executed, in such form as shall be pre- 
 scribed by the said Trustees, liis assent to this agreement. 
 
 Seventh. — The Trustees may do any acts in their discretion ex- 
 pedient, by themselves or their agents, in developing or operating 
 the property, and may use any proceeds therefrom to discharge 
 and pay any expenditures or liabilities connected therewith ; and 
 in furtherance of this purpose, the Trustees are authorized to make 
 any purchases or sales of any property useful or desirable for such 
 development or operations in the names of any persons whatso- 
 ever; and in reference thereto, exercise an unrestri ted discretion 
 in all respects. 
 
III 
 
 X 
 
 26 
 
 Eighth. — The Trustees may, at any time or times, distribute and 
 pay to the parties in interest such portions of any profits which they 
 may have realized, as in their discretion they shall deem expedi- 
 ent ; and shall make such dividends at sundry times, when the 
 sura of one hundred thousand dollars shall have accrued as profits, 
 over and above all liabilities at any such time existing. 
 
 Ninth. — Upon any sale of the property by the Trustees, under 
 the authority herein given, or under the direction of the parties in 
 interest as herein provided, the Trustees shall apply the proceeds 
 thereof, first to the payment of all demands or just claims, and 
 shall distribute the balance thereafter remaining, if any, among 
 the parties in interest, ratably, according to their respective in- 
 terests ; and thereupon this trust shall cease and determine, and 
 this agreement be and become null and void, except as an evidence 
 of title. 
 
 Tenth. — The interests of the parties entitled under this agree- 
 ment are hereby declared to be as follows: E. B. Ward, twenty- 
 seven and a half per cent. ; Edward Learned, twenty-five per 
 cent. ; Alexander H. Sibley, six and one-quarter per cent. : Charles 
 A. Trowbridge, six and one-quarter per cent. ; Peleg Hall, six 
 and one-quarter per cent. ; William B. Frne, six and one-quarter 
 per cent. ; William H. Zabriskie, one and five-eighths per cent. ; 
 Alexander H. Sibley, Trustee, nine and five-eighths per cent.; 
 George S. Coe, one and one-quarter per cent. ; Edward Alexander 
 Prentice, ten per cent. And the certificates to be issued therefor, 
 and future certificates, are to be made and issued, for the purpose 
 of convenience, on the basis of sixteen hundred parts or shares, 
 and as follows : 
 
 E. B. Ward, 440 sixteen imndredths. 
 
 Edward Learned, 400 " " 
 
 Alexander H. Sibley, 100 " " 
 
 Charles A. Trowbridge, 100 " " 
 
 Peleg Hall, 100 " « 
 
 William B. Frue, 100 « « 
 
 William H. Zabriskie, 26 « " 
 
 A. H. Sibley, Trustee, 154 " " 
 
 George S. Coe, 20 " « 
 
 Edward A. Prentice, 160 « " 
 
 Sams 
 aocoi 
 monc 
 be a 
 so h( 
 
 the 
 It 
 
 out c 
 
 and 
 
 rate 
 
,vibute and 
 ivhich they 
 Bin expedi- 
 when the 
 L as profits. 
 
 • 
 
 tees, under 
 e parties in 
 le proceeds 
 claims, and 
 my, among 
 ispective in- 
 ermine, and 
 an evidence 
 
 r this agree- 
 ird, twenty- 
 ■nty-five per 
 nt.: Charles 
 eff Hall, six 
 one-quarter 
 hs per cent. ; 
 13 per cent.; 
 •d Alexander 
 ued therefor, 
 : the purpose 
 rts or shares, 
 
 idredths. 
 {( 
 
 (C 
 
 (C 
 (C 
 (C 
 
 « 
 
 I 
 if 
 ■ft 
 
 27 
 
 In ■\vitxess ■whereof, the parties hereto have hereunto set their 
 hands and seals, this second day of November, A. D. one thousan^J 
 eight Imndred and seventy. 
 
 A. H. SlULKY, 
 
 E. B. Wakd, Tnistee, 
 Edwakd Learned, Trustee^ 
 *Peleg Hall, Trustee^ 
 C. A. Trowbridge, Trustee, [seal.] 
 A. H. Sibley, Trustee. [seal.] 
 
 [seal.] 
 [seal.] 
 [seal.] 
 [seal.] 
 
 In the presence of 
 Frank E. 
 
 Kerxociian. 
 
 At the first meeting of the Trustees, at the St. Nicholas Hotel, 
 on the 2d day of November, 1870, present, Edward Learned, E. 
 B. Ward, Charles A. Trowbridge, Pelcg Hall and Alexander H. 
 Sibley. 
 
 On motion, 
 
 It was resolved, that Alexander H. Sibley be appointed Presi- 
 dent, Edward Learned, Ti-easurer, and Charles A. Trowbridge, 
 Secretary, with the understanding that a majority of the Trustees 
 tUAy, at any time, make any changes of any of the oflBcers which 
 tkey may elect to do. 
 
 It was further resolved, that all the money receivable, and ores 
 a&d avails thereof, shall be paid or delivered to the Treasurer, or 
 deposited to his credit in the American Exchange National Bank 
 of New- York; provided, however, that inasmuch as, up to the 
 l^tesent time, Mr. Sibley has become obligated for considerable 
 ftums, in conducting the business, and has likewise received on 
 aecount thereof other lai'ge sums from the owners, that any of such 
 moneys lie may have on hand, or other which he may receive, may 
 be applied by him directly to the payment of his said obligations 
 so heretofore contracted ; his accounts, however, to be returned to 
 the Secretary, and to be settled with the least practicable delay. 
 
 It was further resolved, tliat the President shall be paid a salary 
 out of the net earnings of the business, for his services rendered, 
 ftnd to be rendered, for the benefit of the trust, at and after the 
 vate of five thousand dollars per annum, commencing September 
 1^ last past. 
 ,«. *|lr. Sibley, on behalf of W. B. Frue, having requested that a 
 
 r. 
 
*HIM 
 
 28 
 
 salary sliould also be allowed Mr. Frue, who is agreed upon as 
 Superintendent at the mine, a similar salary was agreed to be 
 paid him, with a furthc^r understanding that, should he continue to 
 act in such capacity satisfactorily, he should be allowed an addi- 
 tional sum of twenty-five thousand dollars as a gratuity, in case, 
 within one year, there shall be realized net proceeds from the 
 mine which can and shall repay the purchase money for the pro- 
 perty purchased of the Montreal Mining Company and interest; 
 and also furnish the money to pay such gratuity. 
 
 On motion. 
 
 The meeting Avas dissolved, subject to re-assembling on the call 
 of the officers, or a majority of them. 
 
 Under the new organization, work at Silver Islet and on the main 
 land was vigorously prosecuted under the able superintendence of 
 Capt. William B. Frue ; though not as rapidly as we had reason ^o 
 hope, in consequence of the difficulty of obtaining skilled miners. 
 
 Jarvis Location. 
 
 During the months of June and part of July, 1811, a small 
 force was engaged in sinking a shaft on Jarvis Island, on a large 
 and i^romising lode, which, in places, showed rich in silver ; but 
 work was discontinued on the 26tli of July, in consequence of an 
 offer being made by Messrs. R. F. McEwen, of London, England, 
 and Simon Mandlebaum, of Detroit, Michigan, of $150,000 for the 
 " Jarvis Location," (6,400 acres,) which was accepted by the 
 Trustees, the money paid into the Treasury, and deeds were 
 executed to these gentlemen. 
 
 Woods Location. 
 
 Deeming it for the best interests of the trust, the Trustees, ou 
 the 21st day of February, 1872, made a deed of Woods Location, 
 consisting of 6,400 acres, including Silver Islet and the other 
 islands in front thereof, to a Company, which they organized for 
 the purpose, under the laws of the State of New- York, called 
 " The Silver Mining Company of Silver Islet, Lake Superior." 
 To this Company the Trustees also conveyed all the works at 
 Silver Islet, and all the mining plant and stores there and at 
 " Woods Location," as well as sixty thousand dollars, or sixty 
 
29 
 
 kI upon as 
 ;reed to be 
 continue to 
 ed an adtli- 
 ity, in case, 
 Is from the 
 for the pro- 
 id interest; 
 
 on the call 
 
 I on the main 
 ntendence of 
 tad reason ^o 
 ;illed miners. 
 
 71, a small 
 id, on a large 
 I silver; but 
 
 uence of an 
 )n, England, 
 0,000 for the 
 ipted by the 
 deeds were 
 
 Trustees, on 
 )ds Location, 
 nd the other 
 organized fov 
 -York, called 
 ke Superior." 
 the works at 
 there and at 
 lars, or sixty 
 
 per cent, of the capital stock of the Wyandotte Silver Smelting 
 and Refining Works, which the Trustees had caused to be con- 
 structed, for the purpose of smelting the ores from Silver Islet, 
 there being no establishments in the Eastern States of sufficient 
 capacity to do the work. 
 
 Since the transfer of " Woods Location," the Trustees have 
 carried on no mining operations, and have, therefore, nothing of 
 pecuniary interest to report. They intend in the coming spring 
 to commence explorations upon tlio remaining locations, with a 
 view to dispose of the property, or to have it developed as speedily 
 as jiossible. 
 
 Thompson's Island. 
 
 At the time of making the final payment to the Montreal 
 Mining Company, some objection was made by that Company to 
 including in the deed a location known as Thompson's Island, not 
 specifically enumerated in the bond, but claimed by the Trustees 
 under the general terms thereof. 
 
 Tlie difficulty thus arising was finally compromised, by making 
 an agreement, by virtue of which the Trustees accepted one-half of 
 the stock of the Montreal Mining Company, which still holds the 
 title to Thompson's Island. 
 
 The stock is held by Robert Anderson, Trustee for this Com- 
 pany, and the prospect of its becoming of considerable value is 
 good, as the island contains several promising veins, which have 
 not yet been opened on ; but it is expected that a small force will 
 be set at work there during the coming summer. 
 
 The Trustees have not thought it necessary to explain in detail 
 the many difficulties with which they have been obliged to con- 
 tend, in the faithful management of the important interests com- 
 mitted to their charge ; the vexatious lawsuits they have been 
 compelled to sustain, the intricate legal questions they have had to 
 compromise, the insidious attacks upon the integrity of their pro- 
 perty which '.hey have successfully defeated. These difficulties 
 have hitherto rendered it inexpedient and impracticable to make a 
 report of their operations ; and they hope that their reticence has 
 not been misconstrued by those in whose interests it has been 
 maintained. 
 
 The Treasurer's report shows a balance on hand of cash and 
 cash assets, of 176,025 11 ; which the Trustees deem sufficient to 
 provide for the exploration of the remaining property. 
 
30 
 
 lit*" 
 
 Kill! 
 
 I'! 
 
 Report of Edwabd Learned, Treasurer of " The Canada Lands Purchase.'' 
 
 Cr. 
 
 Goia. 
 
 1870, Sept. 1, Paid^ra^ instalment on purcbaee of the property 
 
 of the Montreal Mining Co., $50,000 00 
 
 1871, Jan'y 1, Paid second do. do. do 50,000 00 
 
 July 1, " third do. do. do 50,000 00 
 
 Sept. 30, " fourth do. do. do 75,000 00 
 
 " " " interest on above instalments to the Montreal 
 
 Mining Co., 8,363 00 
 
 Currency. 
 " " " premium on $183,363, gold, and interest on 
 
 loans to pay above instalments, 13,846 00 
 
 1871 and 1873. " for smelting silver ores produced from Silver 
 
 IsletMine, 60,110 11 
 
 " Canadian Customs on supplies and machinery 
 
 purchased in the United States, 3,584 35 
 
 " freight and insurance on ores and supplies,. . 26,614 13 
 
 " for steam tugs " Ed. Gallagher," " Helen 
 Grace," " Silver Spray" and two large 
 scows, $30,448 01 
 
 " for explorations and surveying on different 
 
 locations, 4,423 78 
 
 " for ^ taxes on property for 1870, (| being paid 
 
 byM. M. Co.,) 740 22 
 
 " for taxes for 1871, 8,135 56 
 
 " drafts of Superintendent for supplies, labor, 
 
 &c., on Islet and main land, 131,662 60 
 
 " premium on gold purchased to pay above 
 
 drafts and interest on same, 11,384 79 
 
 " for mining plant, engine and engine house, « 
 
 pumps and fixtures on Islet 7,066 4 
 
 " for boarding house, office, assorting and 
 
 change house on Islet, 4,651 28 
 
 " for breakwater, coffer-dam and shaft on Islet, 60,745 JiS 
 
 " " dwellings, boarding houses, store, ware- 
 houses and stables on main land 23,835 01 
 
 " for teams, office furniture, bedding, &c., &c.,. 5,245 63 
 
 " *• harbor breakwater, building roads, clear- 
 ing lands, &c., 14,556 11 
 
 " for general expenses, including law fees and 
 
 legal expenses in Canada and New- York, . 21,872 89 
 
 " for William B. Frue on special contract for 
 
 services, 26,000 00 
 
 " first dividend, 166,686 66 
 
 " second do 96,000 00 
 
 " cash on hand, 69,665 11 
 
 $1,022,020 64 
 
 
da Purchase." 
 
 Gold. 
 
 $50,000 00 
 50,000 00 
 60,000 00 
 75,000 00 
 
 8,363 00 
 Currency. 
 
 13,846 00 
 
 60,110 11 
 
 3,584 85 
 36,614 13 
 
 $30,448 01 
 
 4,423 78 
 
 740 23 
 2,135 56 
 
 131,662 60 
 
 11,284 79 
 
 7,066 4 
 
 4,651 28 
 60,745 yS 
 
 22,325 01 
 5,245 63 
 
 14,556 11 
 
 21,872 89 
 
 25,000 00 
 
 166,666 66 
 
 96,000 00 
 
 69,665 11 
 
 $1,022,020 64 
 
 81 
 
 Dr. 
 
 1870, Aug. 27, Amount received from ebareholders to pay Ist in- 
 
 Btalment, j7oW, $50,000 00 
 " " " do. for working capi- 
 
 tal, cwrrenc^/,.. 23,100 00 
 1871 and 1873. " " " sales of silver, being pro- 
 
 duct of mine for 1870 and 
 
 1871, 797,448 68 
 
 " " " sale of Jarvis Island pro- 
 perty, (0,400 acres,) 150,000 00 
 
 " " for interest on same, 1,47196 
 
 $1,022,020 64 
 
 Assets. 
 
 Caslionhand, $00,065 11 
 
 Atlantic Mutual Insurance Co.'s scrip for 1871,.. . 1,410 00 
 do. do. do. " 1873,... 4,950 00 
 
 One-half the stock and franchises of Montreal 
 
 Mining Co. 
 Sixteen locations on Lake Superior, containing 
 
 94,298 acres. 
 
 Liabilities, 
 
 None. 
 
 I'd sum up the operations of the Trustees in a few words : they 
 aequired, for an original outlay of ^73,100, more than 107,000 
 acres of land ; out of the proceeds of the land itself, they have 
 paid, for the purchase of the property, about $200,000 ; for smelt- 
 ing and freight, about $100,000; for labor and construction ac- 
 count, about $260,000 ; for sundry miscellaneous expenses, about 
 iJiOjOOO ; have divided among the shareholders over $260,000 in 
 cash ; and have now on hand about $75,000, or an amount equal 
 to that with which they went into business. 
 
 When the Trustees took possession of the property it was a 
 lonely and desolate wilderness ; they have transformed it into a 
 thriving and industrious settlement, with a church, school-house, 
 store, custom-house, post-office and substantial dwellings for over 
 600 men ; they have made it the best harbor of refuge on tlie 
 northern shore of the lake, with a light-house on Silver Islet, and 
 range lights on the main land ; with extensive wharves, for ship- 
 ping ores and supplies, with basins protected by breakwaters, 
 with a sectional dock for repairing vessels, with three steam-tugs 
 •ad complete equipments of all descriptions. Silver Islet itself 
 %aB a bare rock, nearly a mile from the main land, exposed to 
 
 1 
 
 ■ft* 
 
 ■■^ii^: 
 
32 
 
 being daily submerged by the waters of the lake ; measuring not 
 more than eighty by one hundred feet. Its area has now been 
 enlarged to over two acres, well protected against storm and water, 
 and covered with buildings for the mining, assorting and packing 
 of the ore. The mine is, without question, the most remarkable 
 silver mine in the world. 
 
 All this property, together with the controlling interest in the 
 most complete smelting works on this continent, has been trans- 
 ferred to The Silver Mining Company of Silver Islet, Lake Su- 
 perior, of which the whole capital stock has been divided in the 
 ratio of thirty-six shares to each share in the trust; and that 
 Company is now successfully operating the mine. 
 
 A charter was obtained from the Provincial Parliament of On- 
 tario, incorporating the Ontario Mineral Lands Company, to which 
 the Koyal assent was given on the 2d day of March, 18V2 ; and 
 in this Company the property held by us as your Trustees is now 
 vested, viz. : 
 
 Mineral lands, 94,298 acres. 
 
 One-half the stock and franchises of the Montreal 
 Mining Company. 
 
 Cash on hand, 
 
 Atlantic Mutual Insurance Co. scrip, 1871, 
 
 1872, 
 
 (( 
 
 « 
 
 u 
 
 u 
 
 ,665 11 
 1,410 00 
 4,950 00 
 
 In closing our report, we confidently believe that so successful 
 a financial operation has rarely been made ; and we only hope 
 that the future of The Ontario Mineral Lands Company may prove 
 equally fortunate in its results. 
 
 No. 52 Hkoadway, 
 
 Njew-Yobk, BeG. 30, 1872. 
 
 A. II. Sibley, 
 Edward Learned, 
 E. B. Ward, 
 Chas. a. Trowbridge, 
 Peleg Hall, 
 
 Trusieea. 
 
 i 'ii 
 
 I 
 
asuring not 
 3 now been 
 I and water, 
 nd packing 
 remarkable 
 
 erest in the 
 been trans- 
 t, Lake Su- 
 /ided in the 
 , ; and that 
 
 B Y-L. A.A\^ S 
 
 OP THE 
 
 nent of On- 
 ly, to which 
 , 18V2 ; and 
 stees is now 
 
 ONTARIO MINERAL LANDS COMPANY. 
 
 34,298 acres. 
 
 ,665 11 
 1,410 00 
 4,950 00 
 
 o successful 
 e only hope 
 Y may prove 
 
 Trustees. 
 
 1. 
 
 The principal office of the Company shall be at Silver Islet, in 
 the Province of Ontario. 
 
 2. 
 
 The Company shall have an office at room 22, Number 52 
 Broadway, in the City of New- York, at which books shall be kept 
 for the subscription and transfer of shares, where shareholders' 
 meetings shall be held, and where any business of the Company 
 may be transacted. 
 
 3. 
 
 The place referred to, in the 16th section of the act incorpora- 
 ting the Company, shall be in the Edinburgh Assurance Buildings, 
 on Wellington Street, Toronto. 
 
 4. 
 
 The annual general meetings of the shareholders, after the year 
 
 ;||73, shall be held at room 22, Number 52 Broadway, in the City 
 
 €p New- York, on the second Wednesday of February in each 
 
 y«ar. 
 
 3 
 
84 
 
 6. 
 
 Special meetings of the shareholders shall be called by the Sec- 
 retary, whenever directed by the Directors, or by the holders of 
 more than a quarter of the shares then actually issued, of which 
 notice shall be given, as provided in the 14th section of the act 
 incorporating the Company : such notice shall specify the objects 
 of the meeting, and no other business shall be there transacted. 
 
 6. 
 
 At any meeting of shareholders, every shareholder shall be en- 
 titled to one vote for every share standing in his name ; but votes 
 shall only be cast by the owner or holder of such shares, or by a 
 person holding a power of attorney for such purpose, signed by 
 the holder or owner. No shares owned or held by the Company 
 shaU be tntitled to a vote. 
 
 i 
 
 Meetings of Directors may be called at any time or place, upon 
 reasonable notice, to be given by the Secretary at the request of 
 three Directors. 
 
 8. 
 
 The said Directors, or any of them, shall receive such compensa- 
 tion for their services as the shareholders, at any annual general 
 meeting, shall direct. 
 
 0. 
 
 The Directors shall, immediately after their election, appoint 
 officers, servants and agents, as provided in the 13th section of the 
 act incorporating the Company. 
 
 10. 
 
 Certificates of shares in the Company sTiall be signed by the 
 President and Secretary, under the seal of the Company ; and all 
 other instruments, requiring the seal of the Company, shall.be 
 given under the hands of the President or Vice-President, and of 
 .the Secretary, 
 
85 
 
 11. 
 
 The Treasurer shall have the care and custody of all the funds 
 of the Company that may come into his hands ; he shall sign or 
 accept all checks, drafts, notes or orders for the payment of money 
 which may be necessary for the business of the Company, and 
 shall pay out and dispose of the same under the direction of the 
 Directors. He shall keep his bank account in the name of the 
 Company in a bank or banks designated by the Directors; and 
 shall make a statement thereof to the Directors upon a reasonable 
 notice ; and shall, at all times, exhibit his books and accounts to 
 any Director upon application for that purpose. 
 
 12. 
 
 The Secretary shall keep minutes of all proceedings at meetings 
 of the shareholders, or of the Directors, in proper books provided 
 for such purposes. He shall attend to such correspondence, and 
 keep such books as the Directors shall order ; and shall attend to 
 the giving and mailing of all notices ; and shall further perform 
 all such acts as the Directors shall order. 
 
 13. 
 
 The Directors shall have power to sell or lease any portions of 
 the Company's lands ; provided, however, that no sale, lease or 
 other disposition of all of the Company's lands shall be made with- 
 out the authority of a majority in interest of the shareholders, to 
 be given at the annual general meeting, or at any other meeting 
 of the Company, specially called for that purpose. 
 
 14. 
 
 Certificates of shares shall be numbered and registered, in 
 suitable books, in the order in which they are issued ; and each 
 certificate issued shall be receipted for, in the margin of the cer- 
 tificate book. The certificates shall be in the following form : 
 
 " This is to certify, that is a holder of 
 
 " shares in * The Ontario Mineral Lands Company,' of the par 
 " value of upon which the sum of 
 
 " has been paid up. 
 
36 
 
 " Given under the hands of the President and Secretary, and 
 " under the seal of the said Company, this day of 
 
 A. D. 18 
 
 {( 
 
 J) 
 
 do 
 
 16. 
 Transfers of shares shall be in the following form : 
 
 " I, in consideration of the sum of 
 
 " dollars, paid to me by of 
 
 " hereby bargain, sell and transfer to the said 
 " and his executors, administrators and assigns, or such persons 
 " as by law may become entitled to his or their personal pro- 
 " perty, shares in ' The Ontario Mineral Lauds Com- 
 
 " pany,' subject to the same rules and orders, and on the same 
 " conditions that I held the same immediately before the execu- 
 " tion thereof; and I, the said do hereby accept 
 
 " of the said shares, subject to the same rules, orders 
 
 " or conditions. 
 
 " As witness our hands, this day 
 
 " of A. D. 18 
 
 » 
 
 Transfers shall only be made upon the books of the Company, 
 by the holder or owner in person or by power of attorney, 
 authenticated to the satisfaction of the Directors, and by the sur- 
 render of the certificates of the shares transferred ; and all sur- 
 rendered certificates shall be immediately cancelkd by the Secre- 
 tary. 
 
 16. 
 
 * 
 
 All calls upon shares shall be made by the Secretaiy, by circu- 
 lar, in the following form, or to the like effect : 
 
 " Take notice, that a call of per cent, on each share of the 
 
 " capital stock of the Company has been made by order of the Direc- 
 " tors of * The Ontario Mineral Lands Company,' to be paid at the 
 " offices of the Company, at No. 62 Broadway, in the City of New- 
 " York, on or before the day of A. D. 
 
 "18 ; that the amount to be paid by you under such call is the 
 
37 
 
 " Slim of ^ ; and tliat you aro required to pay the same 
 
 " on cr before the said * day of A. D, 18 ." 
 
 No call shall be made for more than twenty-five per cent, at 
 any one time ; and thirty days' notice shall be given of all calls. 
 In case any shareholder shall neglect or refuse to pay such calls, 
 at the times appointed, the Secretary shall send to the defaulting 
 shareholder, at the address referred to in the 1 4th section of the 
 act incorporating the Company, and publish as directed by that 
 section, a notice in the following form or to the like effect : 
 
 " Take notice, that inasmuch as you have failed to pay the call 
 " on your shares in ' The Ontario Mineral Lands Company,' of 
 " which you were notified by circular, dated the day of 
 
 ** A. D. 18 ; the said Company will, if such call remain 
 
 " unpaid for the space of three months, cancel your shares in the 
 " said Company, without further notice *o you." 
 
 17. 
 
 In case of forfeiture of shares for non-payment of calls ^hereon, 
 as aforesaid, the same shall be and be considered duly cancelled, 
 by a resolution of the Directoi's to that effect. 
 
 18. 
 
 Tliirty days' notice of all dividends shall be given by the Secre- 
 tary, as provided in the 14th section of the act incorporating the 
 Company ; and the transfer books shall be closed ten days before 
 and shall remain closed until after the first day of payment of the 
 dividend. 
 
 19. 
 
 A suitable seal shall be provided, which shall be under the 
 charge of the Secretary, and the affixing of such seal to contracts 
 and instruments, together with the signatures of the President or 
 Vice-President as aforesaid, and of the Secretary, shall bind the 
 Company. 
 
 20. 
 The transfer books of the Company shall be closed ten daya 
 
38 
 
 before, and shall remain closed until after the annual general 
 meeting cf the shareholders. 
 
 21. 
 
 If any person claims a new certificate from the Company, in 
 lieu of one lost or destroyed, he shall make an affidavit of the fact 
 and the circumstances of the loss or destruction, and shall adver- 
 tise in one daily paper published in the City of Toronto, and in 
 one daily paper published in the City of New-York, both to be 
 designated by the President or Vice-President, once in each week 
 for six weeks, an account of the loss or destruction, describing the 
 certificate, and calling upon all persons to show cause why a new 
 certificate should not be issued in lieu of that lost or destroyed ; 
 and he shall deliver to the Company his said affidavit and proof 
 of the publication of said advertisement, and shall also give to 
 the Company a satisfactory bond of indemnity, with one or more 
 sureties, in double the amount in value of the shares represented 
 by the certificate so lost or destroyed, against any damage that 
 may arise from issuing a new certificate ; whereupon the proper 
 officers' may issue a new certificate of the same number, date and 
 tenor with that said to be lost or destroyed, and specifying that 
 it is in lieu thereof. 
 
 22. 
 
 These by-laws may be altered, amended, suspended or repealed 
 by a majority of all the shareholders in interest, at any annual 
 general meeting, or at any meeting specially called for the purpose.