uary a general meeting of shareholders shall be called by the Board, at which a full statement of the Company's affairs shall be submitted; and ten days' notice of such meeting shall be given by advertisement in one newspaper in the place where the head office is, and also by two insertions in the Ontario Gazette.

14. At such general meeting, shareholders shall have one Proccedirgs vote for each share on which all calls are paid; and votes may at general be cast in person or by proxy, but no proxy can vote unless he be meeting. a qualified shareholder; the shareholders shall at such meeting appoint directors by ballot, but all other proceedings shall be determined by open vote; but the Company shall not be dissolved by failure to elect directors as above. Corporations holding stock in the Company may be represented at such stockholders. meetings by their chief executive officers (one for every ten shares held), and such officers may be appointed directors elthough they themselves hold no stock in the Company.

Corporation

15. Special meetings of shareholders may be called by the Special directors, or on the requisition of shareholders holding one- meetings. third of the Company's stock; and ten days' notice of such special meetings, stating the objects for which they are called, shall be sent to each shareholder by mail. Lists of the shareholders shall be at all times accessible to any of them.

16. The company shall annually within fourteen days after Returns to be the meeting of the Legislature of the Province of Ontario, made to the Legislature. make a return of the amount of the capital stock subscribed and paid in, the assets and liabilities of the company in detail, the amount of cash actually received for premiums and from all other sources, the amount of cash paid for claims for lapsed or surrendered policies, for commissions, and all other expenditures, and the amount required to re-insure all out standing risks, stating the table of mortality and the rate of interest on which such calculation is based.

CAP. LXXXVIII.

An Act to increase the Capital Stock of the Ontario Trust and Investment Company and for other purposes.

W

[Assented to 2nd March, 1872.]

HEREAS The Ontario Trust and Investment Company have by their petition prayed that their Act of Incorporation may be amended and it is advisable to grant the prayer of the said petition;

Therefore

Increase of

Therefore Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

:

1. The capital stock of the said company may be increased capital stock. to five hundred thousand dollars and such increase may be agreed upon by the shareholders at any annual general meetings or at any meetings specially called from time to time for that purpose by the usual notice for special meetings; and such increase may be agreed on by such proportions at a time as the shareholders shall determine, and shall be decided by a majority of the shareholders present at such meetings either in person or by proxy.

Ten per cent. to be paid in stock.

Allotment of new stock.

Application of premium.

Agencies of

2. No subscription of stock in the capital of the said company shall be legal and valid unless ten per centum shall have been actually and bona fide paid thereon, within five days after subscription into one or more of the chartered banks of this Province, to be designated by the said directors; and such ten per centum shall not be withdrawn therefrom except for the purposes of the company, and provided also further, that for every year thereafter, at least ten per centum be paid upon and in respect of all such stock so subscribed.

3. Any new stock of the said company to be issued on any such increase of capital stock shall be allotted to the other shareholders of the said company pro rata at par or at such premium as shall be fixed by the directors; Provided always, that any of such increased stock which shall not be taken up by any shareholder within three months from the time when notice of the allotment has been mailed to his address by post from Toronto, may be opened for subscription to the public in such manner and on such terms as the directors shall determine.

4. The premium, if any, received on any such increased stock shall be carried to the rest or reserved fund of the company.

5. The company may have offices in any places the directors the company. may direct, and the directors are empowered to appoint agents and clerks to manage such offices.

General meetings.

Powers of the
Company.

6. Annual general meetings and special general meetings of shareholders of the company shall be called by public notice advertised for at least one month in one or more of the newspapers published in Toronto and in the Ontario Gazette.

7. The said company shall be and they are hereby authorized to take receive and hold all estates and property, real and personal which may be granted, committed, transferred or conveyed to them with their consent, upon any trust or trusts whatsoever, (not contrary to law,) at any time or times, by any

person

Assume cer ain.

trust.

person or persons, body or bodies corporate, or by any court of the Province of Ontario, and to administer, fulfil, and discharge Company may the duties of such trusts for such remuneration as may be agreed on; and they are also authorized to act generally as agents or attorneys for the transaction of business, the management of estates, the collection of rent, interests, dividends, mortgages, bonds, bills, notes and securities for money, and also to act as agent for the purpose of issuing or countersigning the certificates of stock, bonds or other obligation of any corporation, association, or municipality, and to receive and manage any sinking fund therefor, on such terms as may be agreed upon.

tre by the

Court may ap

8. The said company are also authorized to accept and ex- May Le apecute the offices of executor, administrator, trustee, receiver, pointed Trusassignee, (other than under any Act relating to insolvency,) Curt. guardian of any minor, or of committee of the estate of any lunatic; and in all cases when application shall be made to any court in the Province of Ontario for the appointment of any trustee, receiver, guardian, administrator, or committee of the estate of any lunatic, it shall be lawful for any such court to appoint the said company with their consent to hold such office or offices; and the accounts of said company as such trustee, re- point an inceiver, assignee, guardian, or committee shall be regularly pector to resettled and adjusted by the proper officers or tribunals; and all port proper, legal, usual, and customary charges, costs and expenses, shall be allowed to the said company for the care and management of the estate so committed to them; in case of such appointment by any court, the said company shall not be required to give any security, but such court if it deems necessary may from time to time appoint a suitable person to investigate the affairs and management of said company, who shall report thereon to such court, and regarding the security afforded to those by or for whom its engagements are held; and the expense of such investigations shall be defrayed by the said company, or the court may, if deemed necessary, examine the officers or directors of the said company under oath or affirmation as to the security aforesaid; it shall also be competent for his Excellency the Lieutenant-Governor, from time to time, when he Lieut.-Govershall deem it expedient, to appoint an inspector to examine the normay appoint an affairs of the said company and report to him on the security inspector to afforded to those by and for whom its engagements are held as aforesaid, and the expense of such investigation shall be borne by the said company.

report.

9. The liability of the said company to the persons interested Liability of in the estate held by the said company as trustee, assignee, exCompany and stockholders. ecutor, administrator, receiver, guardian, or committee as aforesaid, shall be the same as if the said estates had been held by any private person in such capacities respectively; and their powers shall be the same; and the whole of the capital stock of the said company together with its property and effects, shall be taken and considered as security for the faithful performance

S

of

of their duties as aforesaid, and shall be absolutely liable in case of any default whatsoever, but no shareholder in the company shall be liable to any greater extent than the amount unpaid upon any stock held by him.

Preamble.

Powers of
Company.

CAP. LXXXIX.

An Act to amend the charter of "The Ontario Carbon
Oil Company, Hamilton, Ontario."

[Assented to 2nd March, 1872.]

HEREAS" The Ontario Carbon Oil Company, Hamilton, Ontario," have by petition represented that they were duly incorporated under the provisions of the Act of the late Province of Canada passed in the session of the Parliament of said Province, held in the twenty-seventh and twenty-eighth years of Her Majesty's reign intituled "An Act to authorize the granting of charters of incorporation to manufacturing, mining and other companies" for the purpose of carrying on the business of purchasing crude or distilled petroleum oil from the various refiners, producers or dealers in this Province, and so refining it or distilling and refining it that it should be fit for general sale for illuminating or lubricating purposes and for manufacturing all cans, barrels and packages connected with or necessary for such business with a capital stock of fifty thousand dollars; And whereas, they have further represented that they are desirous in addition to the powers so conferred upon them of extending their business operations by searching for, working, extracting, or otherwise obtaining in Ontario petroleum oil, and for that purpose to increase their capital stock; And it is expedient to grant the prayer of such petition;

Therefore Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

1. The company so incorporated shall and may, in addition to the powers conferred upon them by the said in part recited charter, carry on the business of exploring for, searching, working, extracting, manufacturing and converting in Ontario, petroleum, or other oils, and for these purposes to acquire and hold by purchase, lease, license or otherwise, lands in the said Province not exceeding two thousand acres, and may carry on and engage in the sinking of wells and the purchasing, erecting and constructting of works, machinery and plant and other things necessary for the above purposes, and may make and enter into contracts, agreements, engagements or dealings with any company or per

son

son for the sale, lease, license or working or otherwise disposing of the whole or any part of such lands, and the produce derived therefrom, and may execute and carry into effect all such contracts, engagements and dealings and generally to do all such acts, matters or things as are directly or indirectly incidental to the said business or conducive to the attainment of the above objects or any of them.

2. The capital stock shall be increased to the sum of five Capital stock hundred thousand dollars in shares of five hundred dollars each, and may from time to time, or at any future time be increased as the wants of the Company may require to a sum not exceeding one million dollars in the whole.

3. The following sub-sections of section five of the Act passed Certain parts in the Session of the late Parliament of Canada held in the of 27 and 28 V., c. 23, intwenty-seventh and twenty-eighth years of the reign of Her corporated said Majesty Queen Victoria, and chaptered twenty-three, herewith. shall be incorporated with and form part of this Act; that is to say, the first, third, fourth, fifth, sixth, seventh, eighth, tenth, twelfth, thirteenth, fourteenth, fifteenth, sixteenth, seventeenth, eighteenth, nineteenth, twentieth, twentyfirst, twenty-second, twenty-third, twenty-fourth, twenty-fifth, twenty-sixth, twenty-seventh, twenty-eighth, twenty-ninth, thirtieth, thirty-first, thirty-second and thirty-third sub-sections thereof.

clauses in

lities con

4. Any clause in the said recited charter inconsistent with Inconsistent the provisions of this Act shall be and the same is hereby re- charter repealed; and the company so incorporated shall from and after pealed. the passing hereof be deemed to be specially incorporated under this Act; but nothing herein contained shall be construed as Existing liabirelieving the said company from any liabilities existing at the tinued. time of the passing of this Act, but the same and all contracts and agreements made or entered into before that time shall remain unaffected by this Act and shall and may be enforced by or against the Company hereby incorporated.

CAP. XC.

An Act to incorporate the Shuniah Silver Mining
Company.

[Assented to 2nd March, 1872.]

HEREAS the persons hereinafter named have by petition Preamble. represented that they are desirous of associating them

selves together, for the purpose of carrying on mining operations in the districts of Thunder Bay and Algoma, in the Pro