*: ■/ /■*r- CIHJVI Microfiche Series V (Monographs) - 4 '■• ->■» ICMH Collection de microfiches (monographies) ? .^ Canadian Instituta for Hiatorical JMicroraproductiont / Inf titut Canadian da microraproductiona hiatoriquaa Ttchnieal and Bibliographic Notes / Notas tachniquat at bnidre image de cheque microfiche, salon la ces: le symbole *-^ eignlfia "A SgiVRE'^la symbole V signlfia "FIN". ^ Lee cartas, planchaa, tableaux, atcr, pauvant dtra fiJmAs A des taux de raduotion diffdranfs. LorSque le document esttrop grand pour Atra reproduit en un seut clichd, II est film* A piertir de Tangle sup^rieur gauphei de gaucHa A droite, at de haut en bas, en prenant la nombra d'images n^cassaira. Las diagranihnaa auiv^enta IHustrant la mdthoda. W-. •' t '';.";;|^.;.. ;' ... 3 /^ . J. "•*■-• r», ■ ' 1 MKROCOrv RiKXUTION mi CHART (ANSI ond/iSO TEST CHARt ^4o. ?) M \ ' A ^PPLjED nVHGE inc 1.653 Eost Main Street Rjchester. t4ew York 14609 ' USA (71«) 482 - 0300 - Ptrone V ' (716) 288 - 5989 - Fox - - •V, • X. •; 1W\ ntlNTKI.JIV MACUAR. TIInM.\> A C, i '■'\^^ ""■;•'••■ y^-^'^ //^■",. y ■•»« EXHIBIT Of TlIB CONDITION AND PROSPECTS m TUB PORT HOPE, LINDSAY AND BEAVKUTON RAILWAY. MAY, 18 5 6. TOBONTO: MACLEAR & CO., KINa 8TBEET EAST. BOARD 01' Dl RIOTOUS : ■\ JA.ME8. HMITII, Ehq., M.P.P, F1JANCI8 II. UURIQN, «fio , M.l'.P. WIJ.LIAM HuSEIl, E,q BOUT. NEEI^IIAM WADUEL, Can TII08. 0. HIDOUT, Eiio., CA.iiutt Bark or Uitib Canada. ELIA8 I'ETEIl SMITH, Etq. NESIIIT KIRCimOFFEK, EnQ. FUANCIS DEAMISII, E«q. CORNELIUS QUINLA.V, Eiq. Ex'Officiii Mnnhvrt of (he lioant : HI8 WOKSIIir THE MAYOR OF PORT 1101% Tub reeve of HOPE. ' Tub reeve OF OPS. FKtolDHIT: JAMES SMITH, Esq., M.P.P. VIOE-FREBIDENT: ELI^ peter SMITH, E8e85,ooo section^ it sufficient [o such a per cent, ment will Jhief En- The following Estimate of the anticipated traffic of the section of Railway between Port Hope and Montecollo, 66 miles in length, has been prepared with much care, and is believed to be considerably below what will be found to be the result of the business of the road, when its legitimate traffic i becomes developed :•— ■ ITE^S OF PROBABLE TRAFFIC PER ANNUM. * 14,000,000 feet Sown Lumber (through freight), @ ISs £10,500 6,000,000 ditto , (way freight) @ average Ts 6d 2,250 1,200,000 b8hl8.Graili of all kinds, including Flour, @av. 3d 15,000 12,OOOton8Mi8ceUanoou8 Freight, (<^ ay. 158.... ..»,..•••• 0,000 53,000 Po88enger8, @ av. 58 6d........ .:.;>^44|575 Moils, Express Business, &c. .\....... 1,000,,^^^ Currency... jS52,325 This estimate makes the gross earnings equal to X1006. 5s. currency, per week ; or .£951. 7s. 3d. currency, per mile per annum J or X18.58. 9d. currencyj per mile per week. To i^ssist in forming a judgment of the grounds on which thls^stimate is based, a Table is atinexed, showing the Area, Population, and some of the staple Productions of the Town- ships tributary to this Railway, taken from the Census Returns ' of 1851-52, being the latest published by authwity. It -^would probably be no exaggeration to assume that since that period the quantity of wheat grown in the district of country specified, has fully doubled, and most of the other articles of agricultural 'products have increased at least fifty per cent. The present population set down in the Table, namely, 53,653, is considered by well-informed residents as much below the truth. It will be observed that the estimated number of passengers on the Railway is not quite equal to the present population of the territory tributary to it'; while in Great Britain and the United States, it is known that this ratio is invariably, greatly exceeded. An exainination of the Map annexed hereto (on which the territory considered as tributary to the section of this Railway under reviewis traced by a pink line), will convince the enquirer that reasonable limits are assigned to tjie area included in the computation. . .\ ^i s .The estimate of probable traffic is based on the assumption, that the railway wUl be forthwith extended to Montecpllo, on Ae^grcat thoroughfare between the Counties of Ontario and Victoria; by which a large portion of the produce of the northern townships of these two counties now finds an outlet ports of shipment on Luke Ontario. That point will doubt- less become, when reache-d by the railway, an important mart for the accumulation of the products of a most fertile section of country ; but it is material to bear in mind, (what a glance at the map will render evident,) that, even while the railway is permitted to terminate at Lindsay, the traffic which must concentrate there will be quite as great, in proportion to mileage and cost, as it would probably be if the railway ex- tended to Montecello. "^ ■ ^The recent rapid developement of the resources of the tract of country here referred to, justifies the anticipation that the ^ extent of^trafficiiidicated in the foregoing estimate, will be fully attained withm three years after the opening of the rail- AvaytoMontecello, and the same per centage on cost within a hke^enod of jts being opened to Lindsay. According to ^e estimate of the Chief Engineer, the cost of tho railway to Montecello, with foil equipment, will be ^451,000 currency If 50 per cent, of the gross earnings be allowed for running expenses and ^renewal fund, (and on a road like this, where there IS no inducement to aim at a high,rate of speed, this allowancemayfce considered ample), the balance ornet annual earmngs-namely, ^26,162 10s. Od., currency-will be nearly sufficient to pay six per cent, per annum on the cost. IhiB result would relieve the Municipalities that are Stock- holders in the railway from any charge upon the loans created to pay up their stock subscriptions, except the two per cent per annuin required t>y the Provincial statute to be paid into " t h^ Consolidated Municipal Loan Fund, as a sinking fond to redeem the ban. The Merest t>n the Company's Sends be- ing a first charge on the revenues of the road, this defipjency would necessarily be provided for by a tax upon the assessabi; Foperiy of the several Municipalities r and in the same man- v%i 9 isumption, ecpllo, on itario and ICO of the an outlet kill doubt- tant mart }o section t a glance le railway lich mu^t portion to ilway ex- the tract that the ; will be "thorail- st within )rding to aiiway to !urrency. running is, where 3ed, this Jtannual -will be the cost, c Stock- J created )6r cent. )aid into fund to onds be- jfipjency isessable Qe man- ner alsa it would bo imperative on the Municipalities to provide for any portion of the simple interest on those loans, which the revenues of the road may Iw inndcquato to meet before, the due dovclopement of the estimated traffic. , The whole amount of this first charge for intorest i*jpon tho issue of first mortgage bonds, will be i;0,120 currency, per annum ; and for tho payment of this amount all the revenues of tho road and tho real and personal property of tho Company are pledged. This ample security will most probably bo fur-^ thcr increased, by the early completion of the section between Lindsay and MonteccUo; the cost of which, there is good reason to believe, will be promptly contributed in stock sub- scriptious by the Municipalities west of Lindsay, so soon ns the road shall have been completed to the lattcy point. In tho general features of this railway, several decided ad- vantages peculiar to it are perceptible. It penetrates the rich agricultural region north of tho centre of Lake Ontario, in such a direction as to avoid all competition with any exist- ing line, and also so as to render the future construction of a competing line extremely improbable, and palpably unneces- sary. It proceeds far enough to the north to afford sufficient facilities of communication, With the aid of existing navigation, for the whole of the habitable section of country north of it, and south of the granite ridges which divide the head waters of the numerous streams in that region ; arid yet Hs westerly bearing gives accommodation to a greatly increased extent of country, andsecures a larger portion of traffic, than could possibly roach a road penetrating the country in a (luc north direction.. In all its aspects, it promises to become one of the most important feeders of the Grand Trunk Railway of Canada. ' The tract of country lying north of Sturgeon and Balsarii Lakes contains forests of pine of excellent quality, of such extent as to render them capable of furnishing to the railway a business the only limits to which will exist in the amount of capital invested in the preparation of sawn and squared tim- ber, and in the means of transporting it to market. Intelligent '•t:_tV9* '*•■''»"• %'**l*yR'>-J^*!F :•*.■ ^■'- \>--\ ■■- y '.■■.." persons employed in procuring saw-logs, and m securing tim- 'ber licenses in this pine region, give the assurance that the removal of twenty millions of feet annually for twenty years iu succession, would exhaust but a small portion of the im- mense forests, which the numerous lakes and streams render accessible. The unsurveyed lands lying north of the Townships of Somerville,^ Bexley andEldon havie, within the last year, been explored by a Provincial Land Surveyor, Mr. M. Dean, under the authority of the Commissioner of Crown Lftnds. Mr. Dean reports having found extensive tracts of excellent land, eligibly situated for settlement ; and it is understood that tl^ese lands are to bo immediately surveyed and offered for sale. The entire tract to be embraced in these surveys must become tributary to this railway. It will readily occur to persons of observation aijd experi- ence, that, in a newly settled and rapidly improving country, such as is the section of Upper Canada here referred to, the present population and productions are not so much to be taken as a criterion of the) business to be expected, as its natural and'-undeiveloped resources, and its capabilities for increased production. As an instance of the rapidity with which agrarian transformations, not uncommon in Upper Canada, have really occurred on the lino of this railway, it may here be noted, that twenty years ago the township of Mariposa produced no more wh^at than was required for the wants of its then sparse population. The yield of wheat in the same township the last year is estimated by competent judges at a quarter of a million of bushels; and yet a large proportion of its surface is covered with primeval forest. In other townships al^s striking change, but a no less constant progressive improvement, has been going on ; and in all, the productive industry of a thrifty population, with abundant scope for all their energies, must receive a great and perma- nent stimulus when the completion of the railway shall have removed the only cause which has hitherto retarded the a4* 1 .1 .1 iring tim- I that tho nty years r tho im- ns render nships of ^ear, been an, under ids. Mr. lent land) that tl^se [ for sale, ist become jd experi- ; country, jd to, the uch to be :ed, as its ilities for idity with in Upper ailway, it (vnship of d for the ' wheat in iompetent 3t a large ►rest. In I constant n all, the abundant id perma- ihall have d the a4- vanccmcnt of tho country, namely, ^ho want 4' cheap , and convenient access to markets. Lindsay, tho present temporary northern terminus, thongb labouring under disadvantages which the railway >viH obviate, has, since the commencement of that work, become a thriving inland town, rapidly growing in population and trade. It \» surrounded by a fertile and healthy neighbourhood, and pos- sesses extensive water power, created by a dam across Scugog River. This interruption to tho navigation is renicdied by a Lock of sufficient capacity to pass vessels 180 feet long. Two steamers of this clasg , no^v. find abundant 'employment, and make daily tripe from the southern extremity of Lake Scugog to tho Village of Fenelon Falls, where are situated the exten- sive Saw Mills of James Wallis, Esq. Tho interior Waters affortl an available navigation for these steamers and the freight barges which they tow, of upwards of one hundred and thirty miles of a coasting trade on lakes and rivers whose shores are now only partially settled. An appropriation for the improvement of these waters appears in the Parliamentary estimates of the present year— the expenditure of which will greatly extend the benefits of this means of intorcommunica- tJion. When the railway shall have been opened to Lindsay, tlie lumber and produce carried on those waters will find its centralisdng point at that town, and there take the railway to Port Hope, instead of, as at present, being transported over a common road from the south end of Scugog Lake to the port of Windsor, on Lake Ontario. A Bill is now before the Pro- vincial Parliament which, when passed, will effect a separation of the County of Victoria from thai of Peterborough, to which it is at present united. Lindsay will then become the Coun- ty Town of Victoria, and. will derive from this an additional impetus to its prosperity. f ^ : The nuclei of many villages now exist along the Kne of this railway; but they are hindered fr<^m increasing jn tHeir trade and population by the peculiar circumstances in which they have hitherto been placed. The mercantile men and trades- men settled in these villages ^ould offer little inducement to i .rf \ '# it- t ^ • /" . ■ 12 ■ • tho surrounding inhabitanta to soil their aRticttltural produce in the udjucont village ; because the farmer could convey it, by the cxistmg moans of transit, to ports of shipment on Lake Ontario at less eost than the merchant or miller could : and consequently the frontier ports have continued to be the marts where the pjoduce of the country in their rear found its primary market; and here the venders have purchased the great bulk of their supplies of merchandize, leaving the trades- men of the interior villages to rely for support solely upon the incidental and trifling wants of their neighbours. But the opening of a railway through this section of coun- tiy wil naturally, and without violence to existing interests, S r^ .) T '^'' ''''''^ *^'"««' '^»'« ™«^«hant ami miller can then obtain transport for largo quantities of pro- duce at reduced rates, and with a great saving of time, com- l^V'^if ?''^"''''- ^' *'^« ^«veral stations along the I>no of tho railway, ^ where now villages of only 600 to 1200 ^ inhabitants eYist, thriving towns will grow up, embracing in tlieirmore numerous populations merchants and mechanics who instead of travelling, as at present, once or twice a year to he^distant markets of Toronto or Montreal, for a meagre and often unprofitable stock, to be slowly doled out generally only to the inferior class of customers, will make frequent journeys to the southern terminus of the railway, to supply their oft-recurring wants. The cost, and risk, and delay of transport will be so much reduced upon Wth his imports and exports, that the village merchantwiUbecome tho intermediate factor betAveen the farmer and the wholesale dealer in Port Hope.; and thus the trading population. of the interior will mcrease, and contribute in a most important degree to con- centrato upon the railway not only the existing business which now takes other channels, but also much that will bo the nat- ura offspring of this new condition of commercial interests • while the southern terminus of the railway will probably be- come a populous city, whose utmost energies will be taxed to meet the constantly increasing demands of new and whole- some developements. ^ : ^-^ ural produce I<1 convoy it, lent on Lake illcr could ; od to be the 3ar found its irchafled the g the tradcs- Boiely upctn irfl, ion of coun- »g interests^ erchant and bies of pro- time, cora- ls along the 00 to 1200 < ibracing in mechanics ivice a year r a meagre t generally e frequent to supply id delay of fiports and termcdiate &r in Port terior Tvill Je to con- tiess which ►p the nat- interests ; )bably be- ) taxed to nd whole- ' is; . Tlic earnest conviction of the practical necessity for this railway, and the confideuoo in its utility, management, and ultimate profitableness, which pervade the public mind in the several Municipalities interested in it, cannot he more forcibly exemplified than by a simple statement of the fact, that the bona fide, paid-up stock subscriptions of these Municipalities amount to X6,000 per mile of the road, or nearly three-fifths of its actual cost, . .JAMES SMITH, President, v. n. L. A U. liailwauCo. THOS. BENSON, Secretary, r. JIJ" i^- D. Railway Co. " ^ ^ 1 r !■ . ■ (■'• ■.■■ • 1 i t ■ 1 . 14 Na L STATEMENT *M" tfci' vnluo of Work .loiie, id MatorM(|(IoKvorwl, nndttW the actual Expenditure for nil puriKmoH otlvir than €on- Btructlon, OB tho Port Hope, Lindsay, and^oavcjton Kiiilwiiy, up to 8lBt March, lHr>U. Amount of Monthly Estlmales for Coii- Dtruclion, »]». ; I. i! I. rf. "'■'"'"'' ••""" I2JI.174 11 1 I : •■.7f""« • ••••.•.• r,.H44 10 »i llpldBing.., I.V,*" 18 T J'"""»''y ' O.IIJI 18 8uper«truo(ur0....i, 21,8^.1 15 o K.|ulpmeut..... .7....... (ijio o Station Uuildings...... jjjqo: Am't'pnlil for Engineering do. Right of AViiy nnd Lnnd Dtt- magea , , |> i«l '•Kt,| -- Ifl i iH> hni 'iJ*m< «§i^RlSfi§i|itP581|§ srfuf?I»i.ifV»f V- ---ii: op j-mI '<'<).U aa|)««|l|n.>4.>|)uiiii*t.)V i on g H 00 >! ■ 2 5. ? ,1 'awMjiii jcij 'ua« 4iitu|pp« « •O'lSt 01 ao|i»indo,i /« ■■■; /^.|:— — — ' ■ / J)^ 'J •S-WHt io / o ;inin»3i>>d'n«|l»indo,| ■■■■' B, ' -7 ■ ,g. :■«■;. 7 2 ts^ i k: m r? PB '■■■ |i lie •.n-'J'r «5 *'if i-T t( tL • -{ '*'« •- « ■' • 71 #■* Tit 9% M •- 'r •• Tj cf? I- « 5> ■!t >' S S 12 Tt : t d 1^ ii '* I- — •■? o : o ^.'*,'* - *; • !■• W Ti Ti '^ •-. • ei w ^ *" *M fi ,i>n»pu»t . 00 '3 ^ C^ ^^ -r ^ ** X ; ^* 2 • -• w X -; '"• po..« JO .».jv. I ; 1^ ?i »>, J-, '.^ f, ';S '■» - • 5: *i S 5 3 S 5 o o '•; s I- ii « « *r 2 * 5 'i I: s u ex. ' \ \ • j i : ! S? i i ! si: ! M : : : i-U : : i • i i "i _ ; : ; ; ; ; i^ ; = i v = < •S • • •. '^ • • • • es • v_ g : : t : : : : :^ :^ : g : c «>->l|!l|!»-^ A I ^n « I -• t r| Jr \'i^ 'Mi »!;(.!■ *■ ^ ^A , '. J , jAl • ' ■ ■^ • ' A «■. ■ ■■•"' ■' ■ ■ ■■ ■ , . ■ ■ St' .■■.-■:■.■ ■ . ■ • \ ' ^ ^ t ' # ■-' .*"^^r; It REPORT OF THi cirnr iNaiNrKR of tub i^ort nopi. wntmiv ukaverton railway comi'anv to xwt i»oaw> or uhusotorh. Port Uopi, ir>«l. 1 fo TAomrtf Benton, Etguire, Secretary of the Port Jlo^»4, * Lindmy, and Ihaverton Itailway Company. SiK, In compUanco with your rotiuoai tlml I nhoiihl furninli you'with somo .Icucriptioii of tlio #iigifi«eru»g foaturoi of thin U«ttt condition, I beg, kaVo roiipcct- (iilly to Bubmittho following Report: \l g The Port Hope, Lindsay and Boaverton Riulray, a« you ~ will Bee from the accompanying Map, is forty-two milc« in length from Port Hope to Lindsay ; from Lindsay to Monto- cello, on the western boundary of the township of Mariposa, is thirteen miles ; and from MonteccHo to Beavertoti, on Lake Simcoo, is fourteen miles. The probable length of the cxten- sion to Lake Huron is forty miles. Thus the whole distance to Lake Simcoo w sixty-nino mile«, and to Lake ^ron one hundred and seven miles. ,W The road runs in a north-westerly direction from Plrt Hope, maintaining a continuous rieo to the "Summit," where it crosses the main dividing ridgo between the waters wlich run into Lake Ontario,* and those which flow, via Rice Lake and the River Trent, into the Bay of Quintc\ This ridg« varies I in height from 600 to 1000 feet, and commencing at i\m River •^ Ih-ent, runs in an unbroken lino along the whole nortlsliorc * (yf Lake Ontario. ' . The Port Hope Railway crosses it at an elevation otf 663 ^ feet above Lake Ontario, at the southern line of the township ofCavan. It descends thence into the broad and fertile valley V : of Cavan Creek, one of the tributaries of Rice Lake, and again rises to a gently undulating plain or table-land, extending over most of the County of Victoria, and elevated from 650 to 600 feet above liake Ontario. It then descends in the Town- I ships of Brock and Thorah, to the level of the country iuime- ^^r*-^ ^^W I I ^H \ ^ 'f--. :^-: /•" •■* ^. ■ •"!g# diately bordering on Lake Simcoe, which is about 500 feet; ftbovo Lake Ontario. ; From this slight topographical sketch it. will be seen, that this road, like all those running from Lake Ontario towards Lake Huron— the Toronto Northern, the Sarnia section of the Grand Trunk, and the Great Western— has the general inclination of its grades from north to sputh, or in the direc- tion of th« greatest traflSc. The average grade going north is twenty-seven feet per mile, or 1 in 195 ; the average grade going south is ten feet per mile, or 1 in 528. The maximum gradient going north is eighty fej3t per mile, or 1 in 60, which occurs for two miles ; the maximum going south is fifty-three feet per mile, or 1 in 100, for two miles. This grade, which is the same as the maximum on the Grand Trunk Railway, may be said to determine the capacity of the road for carrying freight ; or, in other words, be what Is technically catfed the jaling grade of the road ; for, judging from the analogy ^f similarly situaited roads, the movement of at least three-fourths of the freight will be iiji that direction, or from north to south. Our engines can draw a train of seventeen freight cars from Lake Simcoe— or, in fact, f)pom Lake .Huron— to Port Hope,tully loaded with say seventeen hundred barrels of flo.ur, and can draw the same train back with half that load, or with say eighty-five tons miseellaneoua freight, -ivhich, from its consisting chiefly of light and bulky articles, would fill the train. I am satisfied that engines will average lighter loads going north than when returning ; so that as a freight road this compares favorably with any in thci-Pirovince. The alignment of the road is good, there being no curves under 1^432 feet radius on the main line, and but two (Jf these. The road, a/you are aware^ although located to Beaverton, and under contract to Montecello, is under construction only as far as Lindsay. It is entirely graded for twenty-five miles, and there is only about fifty thousand yards of earth- work remaining yet to be done. The bri'Jgesy culverts and fences are completed. The sleepers are all distributed,- for i' ■ ^.Ms. Id out 500 feet, >c seen, that ario towards 1 section of the general in the direc- going north reragc grade tie maximum . in 60, trhich is fifty-three mum on the the capacity rds, be what forjudging □aovement of lat direction, r a train of tt fact, f)pom ly seventeen le train back aisccllaneous it and bulky engines will jturning; so with any in ig no curves two (rf these. Beaverton, truction only • twenty-five ds of earth- culverts and tributed,- for laying track. Morc,than half of the equipment ia delivered at Port Hope, and the rest is ready. Tlic station buildings arc well advanced towards completion. The iron has been shipped and is expected to arrive next month, and if the work is pushed on, the road can bo opened to Lindsay in Septcm- her or October ensuing. The grading of the road has been done in the most solid and substantial manner, and will compare favorably with any road on the Continent in that respect. The width of the cuttings at formation level is twcnty-lbur feet; that of the embankments is eighteen fM, a^d proper care has been taken to secure good drainage. ^ • ■ ..-. ■ ■ . ' :'. ','-;• - - U: ,.^_ _ As there is na stone along the line of the road, and what- " ever was used had to be drawn from Port Hope, it Was not ^^emcd expedient to haul it over twelve miles. Wherever Mall streaips hjavo to be cPoSscd beyond this distance, provi- sion has been made for a temporary crossing of" wood, which will answer the purpose perfectly well until the stone can be drawn on the trains, and culverts of masonry be built. The road crosses no large streams, anfl there is but one valley where it has been found necessary to construct a trestle bridge for permanent use. This has been so built that it can be re- paired at any time without stopping the passage of the trains, and the interest at six per cent: on the amount saved between its cost and that of an embgnkment Mid culv^ t, or of a stone bridge with iron girders, womi>■ ■.'■■ '■'"'■^N ■r'rrJ il-ii M ri I be ami they arc hereby authorhe.1 and empoweml to borrow within this Provide or elsewhere, and to issue Bonds of the c"c^n*tible into Stoek of the Company or other,«se S^Zy be agreed «„on, to an an,onnt "»« --f '"« ™ , ™; M md twenty-five tho^and po,,nd, sterlmg ^ ""S J not exceeding six per cent, per annum, payable sem.-minuaUj , 'such Lef and places, in this Provinee o-lsowW ;.s . e Board of Directors shall direct; wh.eh sa>d Bonds shall bo Sferable, sealed with the seal of the Company, a„ds,gned byXrresident and Secretary thereof, and P-J"''''-' '^> ^"'y years f.-ora the date thereof; and for seeur.ng tile payment of riid Bonds/or such portions thereof as the »-etorsm^ :. deem expcdieni with the interest thereon accru,ng,rta„l Directors ar/ heveb| authorised to make »nd execute. Mort^-e t^TrustcJs for the benefit of the holder, of H.ch S,;;f ll the property, lands.and tenements o^ rt>e.a,d . Comply/or Y-hich may be purchased or many «« ocp^ cd or pJrtiing.to the construction of the sa.^ Ra.Uaj, llTTlV t4 Right of Way -quired, or ;vh,c may he aciuU by the said Company, or any. portion l"^e« ' ^'* also t/e iron rails and other fixtures eonnected w .th Jh« supir/tructure of the said Railway; and; all or any por- tioil/of any other property, real or personal of tho_saul Corii^y, amUlso the rents.profits, tolls and revenue, of Ae sanlagr«ablywith the provisions of the several Acts mco,- pollng the sahl Company, and amending the charter thej-eof. % utneeting of the Board of Pireeton of The Port Hope Litdsay and Beaverton Railway Company, lie d at the Lpany-s office, the 8th day of Pecember, I800, .t was, ninong other proceedings, .. i Jlemlvcd :--" That the Bonds of this Company, to be.ssued Lxcr the authority of a Resolution passed at the speoa Pneral meeting of (he Stockholders of the Company hehl pursuant to public notice, on the 28rd day of August, 18o„, E bear dlto the 1st day of July, '1855, and he made payable twenty years from the date thereof, with .ntcrest a the rate of six per cent, p e r annum, pay a ble half yea.lv. on -* I'f ''V^ ■|i; 23 borrow, , of the licrwisc nd hitn- ititorcst muially, 0, Jis the shall be «l signed ) twenty ymcnt of itorpmay the f"ai(l jcecutc a 31 of f-uch the said acquired Railway, . I inav be lereof; as with the any por- ' the said uiesof the \.cts incor- r thereof." Port Hope, Id at the 55, it was, to be issued the special ipany; held gust, 1855, id ha made I interest at 'yearly, on the fiPHt day of January and July in each year, at the Bankin< House of Messieurs Gly-rin, Mills and Company, Banker^, London, England ; and that the IVcsident bo authorized to make the necessary arrangements for the payment of the usual commission to these ]Jankers, as compensation to them for tlieir paying the Interest Coupons when presented, and alsd the principal when due. The President shall have power t<»& ■ approve of the form of Bond to be used, and to cause the same to be engraved, and the Bonds shall be signcil by tho President and Treasurer, but the signature of the Treasurer to the Coupons shall bo alone sufficient, and shall be binding on the Company. The said Bonds shall be of the denomination of one hundred jiounds, sterling, each, and shall be numbw'ed progressively from one to one thousand two hundred and fifty, inclusive, and shall be countersigned by the Trustees to be named in the Mortgage, or either of them. Each Bond issued shall 1>e cnregistered in the usual form, in a book to be provided for that purpose, — a duplicate of which book shall be kept by the Auditor ; a record shall also be kept of the Coupons, and when paid they shall bo cancelled and fyled in a form to be prescribed by the Finance Committee." ItesolvH : — "That the President be, and he is herebA' authorized and empowered to execute a Mortgage upon the property, real and personal, of the Company, in the terms of tlic Contract, for the better securing the payment of the Bonds tQ^ be issued to the Contractors or others ; that the said jniortgage be made to secure such Bonds to'^the extent of one hundred Und twenty five thousand pounds ^ sterling, and shall be to Trustees to be agreed upon by the President and the Contractors." I At a nteeting of the Directors of the/said Company, held'at i their office on the 24th day of December, 1855, it Avas f llesolved : — " That the draft'of Mortgage agreed upon by the respective Solicitors of the Cpmpany and the Contractors, submitted to this Board, and now being engrossed, he executed, I and the Company's Bonds perfected forfhwith." . x: * 24 I, Thomas Benson, of the town of Port Hope, Scrotary and Treasurer- of Tho Port Hope, Lindsay and Beavorton Kaihvay Company, do hereby certify that the foregoing is a correct copy of tho proceedings which appear regularly entered upon the Record of the said Company. GHvjjn under my hand and seal of tho Company, this seventh day of January, in the year one thousand eight hundred and fifty six. ,.,*' V ' THOS. BENSON, / Secretary and Treamrer^ P. IL, L. & B. RAILWAY CO. Signed and scaled in the presence of Joseph B. Hall :} (L.S.) 26 rotary and n Kaihvay i a correct bred upon lis seventh idred and WAY GO. (L.S.) COPY of the MoHxaAGE made by The Port HopCy Lind»ay, and Beavcrton'Railway Company, to Joseph A. Woodruff and aabert McMieken, iJ»(/MtV(J», Trustees, to secure the payment of the Company's Bonds : THIS INDENTURE, made this twenty-ninth day of December, in the year of our Lord, one thousand eight hun- dred and fifty ^fivc, between The PoHHope, Lindsay, and Beaverton Railway Company, incorporated under certain Acts of Parliament in this Province, oF THE FlliST PART, ajid Joseph A. Woodruff, of the town of Niagara, in the County of Lm- coln, andP^ince of Canada, Esfiuire, and aHhert McMic- ken, of the village of Elgin, in the County of Welland, and Province of Canada, Esquire, OF THE SECOND part: WHEREAS the said parties of the first part, pursuant to the terms ot the Statute of the said Province incorporating them, and other Statutes of the said Province affecting them,/ are engaged in constructing a Railway from the town of Port Hope, in the County of Durham, and Province aforesaid, to the village of Lindsay, in the Countyjof Victoria, and Province aforesaid, and for that purpose have procured and received subscriptions to the Stock of the said Company, to an amount exceeding Two hundred and five thousand pounds, of lawful money of Canada, nearly the whole of which amount has been expended on said Railway : And whereas, by the Contract entered into by the said parties of the first part with Messieurs . Zimmermari and Balch, the Contractors of the said Railway, it was provided arid agreed that a certain portion of the cost of the said Railway, with its Equipment apd Works, should be paid to the said Contractors in Debentures, to be issued by the said parties of the first part, and to be secured by a first Hlfortgage on the Lands, Line of Way, and Rolling Stock of the said Company, and for this purpose, and to secure the completion of the said Railway, the said parties of the first part are and have resolved to execute, in the mariner and ■ vv ith in tho timea hereinafter spccifiedy certain Debentures to an ■ .■./,■ ■■-■' ..«■ amount not cxcecling One hundred and twcnty.fiv. thomand pcuud., of .toMin« n,o„cy of GrcU Britain, JL .,Z iZ one honaand two humlrcl and Rtty in nu.nbor, for .l,oI„ ^f one l,un,Irod ponmls sterling *a„l,, p„y„b|, ,„>s„„„.., ^^ , .no™,.n, or the holder thereof, dat.dte'peotivefy the fi„t ,1 I ot July m tho year one thousand eight hundred anil fiftv Ino, and numbered from one to one thousand t„, hund d Zd fifty, and payahlo T,centy years fVom tho date thereof and beanng .nterest at th, rate of six per eentum per an^l ' aT able sem..a„„„„„y, „».te first day of January and th fosi Jay of July ensuing th« date thereof, until tho prinoipaUhl be pa,d, .„ accordance With the proper interest Coupor.o l! sa.d Debentures attached, such payn,ents to bb made m the B,nk,ng.housOofMessieu™Gly„„: Mills, and Compart in n cSit"vso°f "" " ?»«''"■'''*''« -•' Dol-onturos fo Ifo' .^ an equality so far as regards security for the repayment thereof Of Wav an^TT' ? "^ ^'"^ *^'^'*"^^' including the Right " f ^W and the Land occupied thereby, and laid out nn^V!!! :>--^ apart tlicfofor, TOOEtiiKii witli tl»p Supcr«tiMictnro nnd TrackB thereon, an» ii? ^41 .f f x^^^^^ tur then nnpa>d, without any-ftrther eonsent or eoneun- „ee « Wy and qn,etly to enter into an.l upon, and to tak«i^ „e ,Tol of, all and every tho said premises, and to receive aortal", rents, .ssues an.I profits thereof, and after such enTry tot s ■ ofll such of aiSnr .'''"'■«'' ""=P'i"«iP«I «nJ interest 01 ail such of said Debentures as may then be due and unnaid Port aiZ ' :r" ■" '"""'° "•"="•<'"' - *« -i'l ton Po t Hope, or m tho eity of Toronto, in said Province civin! "mo "n f ' '"""""■' P--T"y '<••«> »oH ky publishing the To^l """ "JJ^P-P™ of good eireulatiort in said city of Toronto „ whrf^ver else, if at all required by law, with Crtv able for any loss or diminution in price by resale in tl?„! successors a n d a l ign s , and all j^rsonselatn^r'tS *Wi^ k . [^ of nil right, intercut or claim, in or to Haul prcmiHCH, or Miy part thereof, and the purchaHcr or purchuHcrs Hhiill not ho hounil to Hco to nor ho ariKwonihlo for tho application or iion-ftpplicution of tho purChnHo money, or any part thereof, hut payment thereof to fxc Trustcoi for tho tinjo hi'ing, or to one of them, nha I ho a complete (ViHchiiVgo, and said TruHtceH shall, after deducting from the proceeds of Hai.l Halo tho eoHtH and cxpcnHtH thereof, and of mannging Mueh property and of »ueh di»)mrsement« ttH they fihall properly have made, apply ho muqh of the proceeds as may he neccH- aary to the payment of said principal and interest duo and unpaid on sai.l DehcnturcH, and nhall rcHtore tho residue thcrr. , of to the parties of Jho first part,— it heing hcrehy expressly understood, that in no case shall any claim or advantage he taken of any valuation, appraisement, or extension laws by said parties of the first part, nor any injunction or ^ay of proceedings, or any process or 'proceeding ho applied for or obtained hy them to prevent such entry or sale as aforesaid. And the said parties of the first part hereby covenant, for the consideration aforesaid, to exectfte ahd deliver at the roasonablo request of tho parties of the second part, or their successors in the said trust, any further reasonable or neccs- Hary conveyance of the premises or property hereby conveyed or intended so to be", or any part thereof, to the said parties of the -second part, or their successors in the said trust, their heirs and assigns, for morefully carrying into effect the objects hereof, particularly for 'the conveyance of any property the_ title to Avhich shall, subsequently to the date hereof, be acquirv, c.l by the said parties of the first part,#nd comprehended in the description contained in the premises, and for tho more particularly describing by metes and bounds, or otherwiscv the property intended to bo conveyed or conveyed hereby. And the SAID parties OF the first part hereby further covenant as aforesaid, that theDebentures to be issued for the purposes aforesaid, and all and any sums of money borrowed ' upon the security of the said Debentures, shall be faithfully applied to the payment of the said Contkctors, and to the 30 conMniction of ,|,o,.i,| I|.tlw„j. nn.l i.« npp„rtnm>,r„ ,),' of «.,i r«.i„.^, .„,, ,„ „., „.,,„ «,,„„„.,,„/ ';''";; "• uiht ot Nuitl Dc'b«uturo«, the vnutv hvrohv irrii.ih.,1 ♦^ »i -.1 m-iu. .,f .,,. .„„.„.. ,..„ »,,„„ ,,„ V. z" ' , : "« .1 |....lu» „f ,1,0 f,„, ,,„„ i„ ,„„ .„,, i„ ' " ' "" uijiiiiHaiion for cvor^ lalwr or wrvico ncirornicl l,v >l, • P«r^ ^l.nii M. A ^""n»rf .», u appoint such Trustee as the ma ioritvnf ^| ''.^/'f ^ ""^^ shall l^ebentures may within s^fvT ^ tlw^ioldcrs of said notiee roquirnrln L ^ f W "^" P"^^^*'-'^ of such . ^rthirt^dar,: ^^^ flr majority of said Debenture^ ■■■■ .. ■■ . nt \- ■- may npply t6 the proper Court in t»io i»ftitl rrovlnrr to np- point II new Trunteo to nupply tho place of either of the m\u\ TruHtet'H wo «lyin«, roHiKning, or becoming inciiprtcitutea a« ikforcnui.l, iin.l thereupon Huch new Tnmtee Hhnll Iweomo vcMt- e«l, for l\w purpoHCH iifoicmiia, with nil tiio rij;?ht« nn for the same, m funayment or ,lischar.re of the Dcbcnt^irc or Debentures so given up; and " - • • ' '^ ' nturcH bei ng so converted § n'} in tbeevQnt of any of the sai( 4-Del m ■..■32:- :::":■■.;: ■ ',: ..:■ ■■.■'^■;. into Stock, the said Companv shall' and will cancel and des- troy each and every such Debenture so converted, and shall not and will not re-issue the same to any person whomsoever And it ls further mutually AaiiEED, That each of the said* Debentures after having been signed by the President and Treasurer of the said Company, shall bo authenticated by the signature of one t)f the said plarties of the Second Part ; but .ifter, and notwithstanding such last-named signature, all the said Debentures shall be and remain the property of the said Company until paid over to the said Contractors in conform- ity with the contract, or otherwise disposed of by the said Company, and such Debentures signed and authenticated as Jiforesaid, to the amount of One hundred and twenty-five tfiomand pounds, iStertmg, and none other, shall bo deemed to be secured by virtue of these pi-csents. And it rs fur- ther HBREBY AGRKEDj That notwithstanding the powers and provisoes herein contained, the said parties of the second part Jind their successors in the said trust and assigns, shall, in the event of default in the payment of the principal or interest of the said Debentures or any of thorn, be entitled to their right of foreclosure of the equity of redemption of the said premises in the Court of Chancery of this Province. And the said parties of the First Part hereby covenant, promise and agree to and with the said parties of the Second Part, their succes- sors in the said trust and assigns. That for and notwithstand- ing anything by the parties of the First Part done, siffered ()r committed, they, the said parties of the :^irst Part, at the time 6f the ensealing and delivery hereof, are, and stand solely, rightfuUy and lawfully seized of a good and perfect, absolute^ and indefeasible estate of inheritance in fee simple of and in the lands, tenements and hereditaments herein be- fore described, with their-^and every of their appurtenances, and of and in every part and parcel thereof, without *ny or ' any manner of reservation, limitation, provisoes or conditions (other than as aforesaid), or any other matter or thing to ahel-, charge, change, encumber, or defeat the same: And also,' that for and notwithstanding anything by the parties of the --* — -- — .- bo now defective) their tirt. to any aud an<)f the 1 v.« ™'>J«<" *" *''''* ""'" "Tf^fpt^^es « -dtot^ P"^"T^treSSuresand interest as aforesaid, and other purpose : A^D thai ^"i^ / quired by the said parties of the second part, or their heirs * assigns, and successors in the said trust, or the survivor of them, make, execute and do, from time to time, -all proper and necessary deeds, acts and things, for mortgaging the sai.l per- sonal property to the said parties of the second part, their heirs, assigns and successors in the said trust, as and for the hke security as is afforded by these presents, and subject to the same trusts and uses : Provide!) always, and it is here by furtlier declared and agreed between the paHies to these presents, that the said parties of the second part, their iieirs assigns and successors in the said truBt, or the survivor of them, and such new Trustee or Trustees as aforesaid, and the Iieirs, executors, administrators and assigns of them and each ^.0f4hem, shall be charged and ehargeablo respectively only for . «uchim>neysastheyshall actually receive l.y virt,^ of the trusts hereby m them reposed, notwithstanding his or their giving or signing any receipt for the sake of conformity, and . ai^ one or nrore of them shall not be answerable or a,^^^^^^^ able for the other or others of them, but each and evei-y of diem only for Ins, and their own acts, receipts, neglects and defaults respectively, and that any one or more of diem ^hall ux>t bc^ answerable or accountable fbr any Banks, banker Broker, or other persons with whom, or in whose hands any part o^ the trust-moneys shall or , nay bd" deposited or lod4 for^ife ciistody or otherwise. Jn the execution of the truS \^ before mentioned, and that they, or any of them, shaH ^iH)t be answerable or account^rble for^the insufficiency or deli, f cienc^ o any securities, stocks or funds in or upon ^lich the said trust-moneys, or any part thereof, shall be placed out or invest, nor for any other loss^mi.fbnu«e or dSma^^^^ may happen ,nthAexecution of any of the afb^^^^^^ m relation tWeto, unless the ^me shall happen by or through • their own w'illful defaults respectively ° Ix WITNESS WHEREOF, the ii|l Company have hereunto set their cpi^priite seal and the signaturV of their Pi42! «. :t.-. aua the *aid parties of the second part respectively have hore^ unto set their hands and seals, on the day and year first above written. ..■;-- Siijn&l, sealed,, and dcUccred in presence of- — (Sicned) , . ' ' TIIOS. BENSON, , .it" the Town of Port Hope, Sec- rotary of The Port Hope, Lind- say, and Bcavofton Railway Company. (Signed) ,■ \ JOSEPH B. HALL, Accountant in the Company's Office." ; , ( Signed) JAMES SMITH, President of The Port Hope, Lindsay and Beaverton Railway ^^'^°toS. A. WOODRUFF, ^'^'^GILBERT McMICKEN, 1, Thomas Beusoii, of the Town of Port Hope, Secretary of the Port Hope, Lindsay and Beaverton Railway Company, do hereby certify that the foregoing is. a true and exact copy of the original Mortgage, made by the said Company to the within-named Joseph A. Woodruff and Gilbert McMicken, which orginal Mortgage was executed by the said parties res- . poctively in my presence. THOMAS BENSON,' \ Secretary. Port Hope, ^ilst December, 1855. ^v Rkgistry Office, Peterborouoii, V ^ . 4th January, 1856. I certify tfiat a Memorial of the within is recorded in the Registry Office for the United Counties of Peterborough ami VicVa, at 11, A.M., on 4th January, 1856, in Lib. K I,, Fol. 137, Lib. RI, Fol. 288, Memorial No. 9733. : ;; "^"^^ . CHARLES RUBIDGE, \ ' \ Registrar, •'^:' , t ^IceriifV that aMenioriai of the within was registered in the Uesristry Office of the County of T>uH«imthis seventh day of V i--M' . . i ■ ■ ■ , .■ ■- • - ■■■..■■ January^ 185G,.at 10 o'clock, A.M., in; Lib. 2, Pdn lioi-e. 'Folio 456, Memorial Ko. 939.,- in Lib. 2, Hope, Folio 484, " Memorial No. 1084; in Lib. 2, Cavan, Folio iJUt); Memorinl No.- 979, and in Lib. 2,Manvcr9, Folio 24, Memorial N». ',8(5. ■ (^jjjiH ) ' . ■ * ' - • , GEOHUK (V WARlX . ■V ■■ ^h ' < r ■3i . • ■^---m-^r:: inl II . \^ 1 ;•: t '^i^^. i.: ■■ .*?• *' r L*' > V'^' I /^•- •N [■4 i r 'W ■M'. z^". ^; ■>.•; J