CAP. XIX. An Act to amend "The Grand Trunk Arrangements W [Assented to 21st December, 1867.] HEREAS the Grand Trunk Railway Company of Ca- Preamble. nada have, by their petition, prayed that power should be granted to them to raise further money; to authorize further arrangements with other companies, and for the other purposes hereinafter mentioned; and whereas the bondholders and shareholders have given their assent that the power to raise further money be given to the Company: and whereas the purposes aforesaid cannot be effected without the authority of Parliament: Therefore, Her Majesty, by and with the advice and consent of the Senate and the House of Commons of Canada, enacts as follows: 1. This Act may be cited as "The Grand Trunk Railway Short Title. Act, 1867." 2. In this Act, except where repugnant to or inconsistent Interpretation with the context, the following words have the following clause. meanings: The word "Company" means the Grand Trunk Railway Company of Canada. The words "Arrangements Act" mean "The Grand Trunk Arrangements Act, 1862." The words "Postal Bonds" mean the Postal and Military Service Bonds issued by the Company under the authority of the Arrangements Act;" may issue 2, to the £500,000 3. The Company may, from time to time, raise by the Company creation and issue of bonds having not less than fifty years to run, equipment to be called Equipment Mortgage Bonds No. 2, any sum or sums mortgage of money not exceeding in the whole five hundred thousand bonds, No. pounds sterling, bearing interest not exceeding six per centum amount of per annum, such bonds to be and become a first charge upon Sterling and over all the Company's railways, works, rolling stock, and other plant, and the net receipts arising therefrom, after paying rank of such the working expenses as hereinbefore defined, prior to all other bonds." charges, except only the Equipment Mortgage Bonds issued under the authority of the Arrangements Act, and except that the Postal Bonds shall retain their special security upon the moneys to be received by the Company for the special services defined in the first section of such last mentioned Act. Interest and Power to Power to convert equip ment mortgage bonds No. 2, into equipment mortgage stock, No. 2. Privileges of such stock. Recital. The G. T. R. and the agreement of July, 1864. 4. The Company may, from time to time, re-borrow all such moneys as may be required for paying or redeeming such Equipment Mortgage Bonds No. 2 by issuing other like bonds having the same privileges, but so that the aggregate amount of the principal money secured by Equipment Mortgage Bonds No. 2 shall not at any time exceed the sum of five hundred thousand pounds sterling. 5. If the Company, instead of raising the money hereby authorized to be raised by the creation and issue of Equipment Mortgage Bonds No. 2, or afterwards for the conversion of such bonds, so desire, they may, with the sanction of three-fourths of the votes of persons entitled to vote in that behalf at meetings of the Company, present in person, or by proxy, at a meeting of the Company specially convened for the purpose, from time to time, raise all or any part of the money which they are hereby authorized to raise by Equipment Mortgage Bonds No. 2, by the creation and issue at such times and in such amounts and manner, and on such terms, and subject to such conditions, and with such rights and privileges as the company think fit, (subject nevertheless to the priorities herein before specially reserved) of mortgage stock to be called Equipment Mortgage Stock No. 2 instead of and to the same amount as the whole or any part of the money which may for the time being be owing by the Company in respect of any Equipment Mortgage Bonds No. 2 which they may have issued under the powers of this Act, or which they may have power to issue, and may attach to the mortgage stock so created such fixed and perpetual interest, not exceeding six per centum per annum, payable halfyearly or otherwise, and commencing at once or at any future time or times when and as the Equipment Mortgage Stock is issued, or otherwise as the Company think fit. 6. And, whereas, by an Act of the Legislature of the late Province of Canada, passed in the twenty-ninth and thirtieth years of the reign of Her present Majesty, intituled: "An Act to legalize and confirm an agreement made between the Grand Trunk Railway Company of Canada and the Buffalo and Lake Huron Railway Company," an agreement, dated the seventh day of July, one thousand eight hundred and sixty-four, made between the said Companies, and scheduled to the said Act, was confirmed, subject to the acceptance thereof by meetings of the shareholders of the respective Companies, which have been since held, and which have duly accepted the same; and it is expedient that such companies should be enabled to vary the terms of such arrangements by mutual consent: Be it therefore enacted, that it shall be lawful for such Companies, from time to time, during the continuance of the agreement now subsisting between them, dated the seventh day of July, one thousand eight hundred and sixty-four, by agreement under their respective common seals, to alter and vary the terms and conditions of such agreement in so far as relates to all or any of the several matters matters in the first, second, fourth, fifth, sixth and seventh clauses Recital. 7. And, whereas, by an Act of the Legislature of the late Province of Canada, passed in the twenty-seventh and twentyeighth years of the reign of Her present Majesty, intituled: "An Act to enlarge the powers of the Montreal and Champlain Railroad Company, to confirm a certain agreement entered into by the said Company, and to secure a permanent Railway City Station in Montreal," an agreement dated the first day of Agreement January, one thousand eight hundred and sixty-four, made be- of January, 1864, with tween the Montreal and Champlain Railroad Company (there in Montreal and and herein called the "Montreal Company,") and the Company Champlain Railway Co. was confirmed; and by the fifth section of such Act power was given to the Montreal Company to sell, and to the Company to purchase, within five years from the passing of the Act, the entire lines and other property of the Montreal Company upon the terms therein mentioned; and, whereas, it is expedient that Power to such period of five years should be enlarged: Be it therefore vary agreeenacted, That the said period of five years by the said recited. Act limited, shall be and is hereby enlarged to ten years from the passing of the said recited Act: Provided that such exten- Proviso. sion of time shall be subject to the approval of the shareholders of the Montreal and Champlain Railroad Company, to be given at a general meeting specially convened for that purpose. ment. 8. For the purpose of this Act, the meetings hereby directed Meetings under to be held shall be convened in manner as similar as circum- this Act. stances will permit to that prescribed in respect to the ordinary meetings of the Company convening the same. 9. And whereas the moneys payable by the Company in Recital. respect of interest due upon their bonds as well as upon their leases and obligations of and to the lines amalgamated with or leased to or worked by them fall due at varying periods, and it is expedient that the books and accounts of the Company should be closed at regular intervals: Be it enacted, that it shall be Power to lawful for the Company, from time to time hereafter, to appoint close books a period for the closing of their books, up to which time all ac- intervals. counts shall be taken in respect of moneys payable by the Company and closed, and from which period all future periodical payments at regular payments shall be computed, a rateable proportion of any payment for any broken period being added or deducted as the case may require. Preamble. 13, 14, V. c. 132. 14, 15 V. c. 147. 16 V. cc. 52, 53. 18 V. c. 188. CAP. XX. An Act to incorporate the St. Lawrence and Ottawa [Assented to 21st December, 1867.] WHEREAS, by an Act of the Parliament of the late Pro vince of Canada, made and passed in the thirteenth and fourteenth years of Her Majesty's reign, intituled: An Act for the Incorporation of a Company to construct a Railroad between Bytown and Prescott, certain persons therein named, together with such other persons as should under the provisions of that Act become subscribers to and proprietors of any share or shares in the Railway thereby authorized to be made, were united into a Company for carrying on, making, completing and maintaining the said intended Railway and other works, and it was thereby enacted that they should for that purpose be one body politic and corporate by the name of "The Bytown and Prescott Railway Company," and by that name should have perpetual succession and should have a common seal and other the usual powers and rights of bodies corporate, not inconsistent with the said Act now in recital; and whereas, by a certain other Act of the Parliament of the said Province made and passed in the fourteenth and fifteenth years of Her Majesty's reign, intituled: An Act to amend the Act incorporating the Bytown and Prescott Railway Company; and also by two certain other Acts of the Parliament of the said Province, made and passed in the sixteenth year of Her Majesty's reign, intituled respectively: An Act to amend the Act incorporating the Bytown and Prescott Railway Company; and An Act for the granting of certain lots in the town of Bytown to the Bytown and Prescott Railway Company, certain other powers and provisions were conferred on or made, enacted, and declared with respect to the said Railway Company; and whereas, by a certain other Act of the Parliament of the said Province, made and passed in the eighteenth year of Her Majesty's reign, intituled: An Act to change the name of the Bytown and Prescott Railway Company, and to amend the Act incorporating the same, it was enacted that the Company incorporated under the first hereinbefore in part recited Act should be called and known under the name and style of "The Ottawa and Prescott Railway Company," instead of being called and known by the name and style of "The Bytown and Prescott Railway Company ; and whereas, in pursuance and under the authority of the said several herein before in part recited Acts, or of some or one of them, the said Railway Company carried on, made, completed and 28 V. c. 35. and maintained the said railway and other works, and purchased or acquired and held certain lands, and laid the track of the said railway and sidings, and erected messuages, houses, buildings and machinery thereon respectively, or on some part thereof, and exercised and maintained the powers, rights, and privileges incident to the carrying on, making, maintaining and completion of the said railway, granted and conferred in and by the said Acts of Parliament, or some or one of them; and whereas, by a certain other Act of the Parliament of the said Province, made and passed in the twenty-eighth year of Her Majesty's reign, intituled: An Act for the relief of the Ottawa and Prescott Railway Company, and for ensuring the efficient working of its railway and for other purposes, after reciting that the interest on the bonds issued under the first mortgage, and the interest on the second and third mortgages made by the Ottawa and Prescott Railway Company was in arrear, and that the Company had also become otherwise deeply indebted, and several of the creditors had obtained judgments against it, and that the railway was in the hands of a receiver appointed by the Court of Chancery for Upper Canada, at the instance and for the protection of certain of its bondholders; and further reciting that the said railway was out of repair; and further reciting that the keeping open of the railway for traffic, which was of the utmost importance to the interests of the said Province, was by reason of the premises imperilled, and that it was necessary that the said railway and its franchises should be absolutely sold to secure thereafter the uninterrupted working of the said railway,—it was enacted, that, notwithstanding anything in any law or statute to the contrary, it should be lawful for any mortgagee or judgment creditor of the said Company to proceed upon his mortgage or execution against lands, and sell thereunder the said railway with all its lands, rights, privileges, franchises, and appurtenances, and that any mortgagee or creditor of the said Railway Company might become the purchaser of the said railway at such sale, and that such sale should extinguish all mortgages, bonds, judgments, and claims whatsoever existing at the time of the sale of such railway, and by and that under such sale, whether made under power of sale in any mortgage decree of the Court of Chancery in Upper Canada, or Sheriff's sale on such execution against lands as aforesaid, the purchaser, his heirs or assigns, should acquire a good title to the said railway and all the lands, rights, privileges, franchises and appurtenances thereto belonging or in any way appertaining, freed and discharged from any claim and incumbrance whatever, and should have full power and authority to sell and dispose of the same, to use and work the said railway under the Act of incorporation of the said Railway Company, or any amendment thereof, as fully and effectually as if such charter had been granted to such purchaser; and whereas a certain Suit in suit was instituted in the Court of Chancery for Upper Canada Chancery. in which Alexander Simpson, Abraham Darby, Henry Dickinson, William |