principle to that of the British government, in which case the messages of the two governments shall have priority in the order in which they arrive at the stations. 5. That the tariff of charges shall be fixed with the consent of the treasury, and shall not be increased without such consent being obtained, so long as this contract lasts. Interpretation clause... Acts of 8 and 9 Vict. c. 16, and part of 8 and 9 Vict. c. 18, in 2 company.................. Present officers continued. Shareholders in existing company to be shareholders in new Power to increase the capital... New or additional capital to be part of general capital.. Power to borrow on mortgage or bond... 12 13 23 14 15 16 17 Special power, of ex-officio director to veto proceedings in certain cases, and references thereon.... 36 Ex-officio director to have same rights as other directors, except where otherwise provided... 37 Every new director to be subject to approval of treasury..... 38 39 Power to lay down wires. 40 Certain lines of telegraph to be laid down, if required by her 41 Certain works not to be executed without consent of commissioners of woods, &c...... Plans to be approved by the admiralty. Admiralty may order local survey....... Power to agree with other electric telegraph companies for facilitating telegraphic communications..... Company may become interested in certain patents... Disclaimer may be made under the company's seal.. Company may take charges for use of telegraph....... And also charges for through transmission of telegraphs of other companies... Lines of telegraph to be open to all persons.... Electric telegraphs to be open to the use of her Majesty's government at all reasonable times...... Preference of such messages....................... Power to treasury to make agreements with company for use of telegraph on her Majesty's service...... ..... Remuneration when no agreement made..... Arbitration Further provisions thereon.... Power to make arrangements with government of United States for transmission of messages for them, and rates....... Provision for cases of public emergency.. Penalty on officers of company for neglect..... Limiting expenditure for works in United Kingdom.. Land taken not to exceed thirty acres........ Company may construct works and buildings upon lands taken... 45 Admiralty may remove abandoned works...... Wilfully injuring an electric telegraph a misdemeanor.... 64 Power to apprehend unknown offenders. 65 Recovery of satisfaction for accidental damage.. 66 Certain provisions of 8 and 9 Vict. c. 20, incorporated... 67 Expenses of act........ 889 68 69 AN ACT to incorporate and regulate The Atlantic Telegraph Company, and to enable the company to establish and work telegraphs between Great Britain, Ireland and Newfoundland, and for other purposes. [ROYAL ASSENT, JULY 27, 1857.] Whereas, in the month of October, one thousand eight hundred and fifty-six, a joint stock company was duly constituted under "The Joint Stock Companies Act, 1856," by a memorandum of association filed in accordance with the said act, whereby it was declared that the name of the company was "The Atlantic Telegraph Company (Limited); that the registered office of the company was to be established in England; that the objects for which the company was to be established were to connect Great Britain or Ireland with Newfoundland by a submarine electric telegraph, thus establishing electric telegraphic communication between Europe and America; that the liability of the shareholders was limited, and that the nominal capital of the company was three hundred thousand pounds, divided into three hundred shares of one thousand pounds each: And whereas it was afterwards agreed and determined by the then subscribers to or shareholders in the said company that the nominal capital thereof should consist of three hundred and fifty thousand pounds, divided into three hundred and fifty shares, of one thousand pounds each, and all the said three hundred and fifty shares have been subscribed for and issued, and the sum of six hundred pounds has been paid up upon each of the said shares: And whereas the telegraphic cable or wire intended to be laid down by the company is in course of being constructed, and several contracts and agreements have been entered into by the company and by the original promoters thereof on their behalf, with other companies and persons, in order to the completion and working of their said submarine telegraph, and the company are otherwise engaged in carrying out the objects for which they were so constituted: And whereas the said undertaking is one of great public and national importance, and it is desirable, in order to the better and more speedy execution of the same, that the company as originally constituted should cease to exist, and that the present shareholders therein should be incorporated by special act of Parliament, and that the company so incorporated should be substituted for the original company, and that powers should be conferred upon the company so incorporated to execute all works necessary and convenient for the purposes of their undertaking; but these objects cannot be effected without the authority of Parliament: May it therefore please your Majesty, that it may be enacted, and be it anacted by the Queen's most excellent Majesty, by and with the advice and consent of the Lords spiritual and temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows, that is to say: I. This act may be cited for all purposes as "The Atlantic Telegraph Act, 1857." II. The following words or expressions shall have the several meanings hereby assigned to them, except where the subject or context shall be inconsistent therewith, that is to say: The expression "the original company" shall mean "The Atlantic Telegraph Company (Limited,") as constituted immediately before the passing of this act. The expression "the company" shall mean the company incorporated by this act. The word "person" shall include corporations. III. "The Companies Clauses Consolidation Act, 1845," and so much of "The Lands Clauses Consolidation Act, 1845," as relates to the purchase of lands by agreement, shall be incorporated with and form part of this act. IV. The Atlantic Telegraph Company (Limited,) as constituted under "The Joint Stock Companies Act, 1856," shall, as from the time of the passing of this act, cease to exist. V. The several persons who, immediately before the passing of this act, were respectively the holders of the said three hundred and fifty shares in the original company, shall become and be shareholders in the company hereby incorporated; and they and all other persons who shall from time to time become shareholders in the last mentioned company, and their executors, administrators, successors, and assigns, respectively, shall, while respectively continuing to be such shareholders, be united into and be a company for the purposes herein mentioned, by the name of "The Atlantic Telegraph Company," and by that name shall be a body corporate, with perpetual succession, and shall have power to purchase and hold lands for the purposes of the undertaking, subject to the restrictions herein and in the acts incorporated herewith contained. VI. Upon the passing of this act, all lands, property, rights, and privileges of or to which the original oompany, or any person in trust for them, were possessed or entitled immediately before the passing of this act, and all moneys due or accruing due, and all securities, books, accounts, documents, and choses in action belonging to the original company immediately before the passing of this act, shall be, and are hereby, vested in the company hereby incorporated for such estate or interest as the original company or their trustees had in the same, to hold to the company, their successors, and assigns, for the purposes of this act, subject, nevertheless, to such charges and liabilities as the same premises were respectively subject to immediately before the passing of this act. VII. All deeds, contracts, and agreements entered into or made by the original company, or by the subscribers of the said memorandum of association acting on behalf of the original company, and now in force, shall bind and be enforceable against the company hereby incorporated, and shall also be enforceable by the company against the respective persons, parties thereto or liable thereon, in the same manner and to the same extent as if the same respectively had been entered into or made by the company hereby incorporated, instead of the original company. VIII. This act shall not release, discharge, or suspend any action, suit, or other proceeding at law or in equity which shall be pending against the original company, or to which the original company shall have been a party at the time of the passing of this act; but such action, suit, or other proceeding may be maintained, prosecuted, or continued, and execution had thereon by or in favor of or against the company hereby incorporated, in the same manner as if the company were the original company. IX. This act shall not prejudice or affect any right of action or suit, or any remedy which the original company may now have, or, but for the passing of this act, might afterwards have had against any person, or which any person may now have, or, but for the passing of this act, might afterwards have had against the said last mentioned company; but such rights and remedies may be enforced or prosecuted by or against the company hereby incorporated in like manner and with the same effect as if the company were the original company; and all debts owing to or by the original company immediately before the passing of this act may be sued for and recovered by or against the company hereby incorporated in the same manner as, but for this act, they might have been by or against the original company. X. All certificates, sales, transfers or dispositions and agreements made or executed of or in respect of any share in the original company shall be of force and effect as certificates, sales, transfers or dispositions and agreements, respectively, of or in respect of the corresponding shares in the company hereby incorporated. XI. All officers and persons who immediately before the passing of this act shall have had in their possession or under their control any money, books, documents, papers, securities, goods, and other effects, belonging to the original company, shall account for and deliver up the same, respectively, to the company hereby incorporated, or to such person as they shall appoint to receive the same in the same manner, and subject to the same process and penalties for refusal or neglect, as if such officers or persons had been appointed and had become possessed of such money, books, documents, papers, securities, goods, or other effects, under the provisions of this act, or of "The Companies Clauses Consolidation Act, 1845." XII. All officers and persons who shall be in the service of the original company at the time of the passing of this act, shall continue in the service of the company hereby incorporated in the same respective offices and employments, according to their respective appointments, until removed therefrom according to the provisions of this act, and all such officers and persons shall have the same powers and privileges, and they and their respective sureties shall be liable to the same conditions, penalties, obligations, and regulations, as if such officers and persons had been appointed, and such sureties had become bound under this act. XIII. The capital of the company shall consist of the said sum of three hundred and fifty thousand pounds, divided, as aforesaid, into three hundred and fifty shares of one thousand pounds each. XIV. Every person who, immediately before the passing of this act, was the holder of one or more shares in the original company shall, immediately after the passing of this act, become entitled to the same number of shares in the company hereby incorporated as he previously held in the capital of the original company, which shares shall be indicated in the register by the same number as, and be made in all |