shall be authorized to hold, including the Capital Stock or Shares before mentioned, shall never exceed in valve twenty-five thousand Pounds.

Capital £25,000.

III. And be it further enacted by the authority aforesaid, That each Ratio of voting for Stockholder shall be entitled to a number of votes proportioned to the Directors. number of Shares which he or she shall have held in his or her name, at least three months prior to the time of voting, according to the following ratios, that is to say :-at the rate of one vote for cach share not exceeding four; five votes for six shares; six votes for eight shares; seven votes for ten shares; and one vote for every five shares above ten.

Manner of election.

IV. And be it further enacted by the authority aforesaid, That the stock, property, affairs and concerns, of the said Company shall be managed Three Directors to be and conducted by three Directors, one of whom to be the President, who chosen annually. shall hold their offices for one year, which Directors shall be Stockholders to the amount of at least ten Shares, and be Elected on the first Monday in May in each and every year, public notice of which shall be given in one Newspaper published in the District of Niagara not less than thirty days previous to the Election, and all Elections of Directors shall be by ballot, and the three persons who shall have the greatest number of votes at any Election of Directors, except as hereinafter directed, shall be Directors; and if it should happen at any Election that two or more persons have an equal number of votes in such manner that a greater number of persons than three shall by plurality of votes appear to be chosen as Directors, then the said Stockholders hereinbefore authorized to hold such Election shall proceed to ballot a second time, and by plurality of votes determine which of the said persons so having an equal number of votes shall be the Director or Directors so as to complete the whole number of three, and in case any vacancy or vacancies shall at any time happen among the Directors by death, resignation or removal from the Province, the same shall be filled for the remainder of the year by such person or persons as the remaining Directors or Director may appoint.

V. And be it further enacted by the authority aforesaid, That the Directors for the time being, or a major part of them, shall have power to make and subscribe such Rules and regulations as to them shall appear needful and proper touching the management and disposition of the stock, property, estate and effects of the said Corporation, and touching the duties and conduct of the officers, Clerks and servants employed therein, and shall also have power to appoint as many officers, clerks and servants, for carrying on the said business, and with such salaries and allowances as to them shall seem meet; Provided, that such rules and regulations be not repugnant to the Laws of this Province.

Directors may make
By-Laws.

Directors to make yearly dividends.

VI. And be it further enacted by the authority aforesaid, That it shall be the duty of the Directors to make yearly dividends of so much of the profits of the said Corporation, as to them or a majority of them, shall appear adviseable.

VII. And be it further enacted by the authority aforesaid, That the Shares transferable. Shares of the said Capital Stock shall be transferable, and may be from time to time transferred by the respective persons so subscribing the same Provided always, that such transfer be entered or registered in a Book or Books to be kept for that purpose by the Directors.

Instalments when

in.

VIII. And be it further enacted by the authority aforesaid, That the and how to be called Directors to be hereafter appointed by virtue of this Act, as soon as they may deem expedient, may from time to time call in Instalments upon the Capital Stock as they shall deem expedient; Provided no Instalment shall be called for or become payable in less than thirty days after public notice shall have been given in some Paper published in the District of Niagara : Provided always, that if any Stockholder or Stockholders as aforesaid shall refuse or neglect to pay to the said Directors the Instalment due upon any Share or Shares held by him, her or them, at any time when he shall be required by Law so to do, such Stockholder or Stockholders as aforesaid shall forfeit such Shares as aforesaid, with the amount previously paid thereon, and such Share or Shares may be sold by the said Directors, and the sum arising therefrom, together with the amount previously paid thereon, shall be accounted for and divided in like manner as other monies of the Corporation.

Shares forfeited for non-payment of instalments.

Corporation not dis

of Directors.

IX. And be it further enacted by the authority aforesaid, That in case it should at any time happen that an Election of Directors should solved by non-election not be made on any day, when pursuant to this Act it ought to have been made, the said Corporation shall not for that cause be deemed to be dissolved, but that it shall and may be lawful on any other day to hold and make an Election of Directors in such manner as shall have been regulated by the laws and ordinances of the said Corporation.

First election.

Public Act.

X. And be it further enacted by the authority aforesaid, That the first Election of Directors shall take place within one month after the passing of this Act.

XI. And be it further enacted by the authority aforesaid, That this Act be, and is hereby declared to be a Public Act, and that the same may be construed as such in all His Majesty's Courts in this Province.

CHAP. XXII.

AN ACT to repeal part of, and amend an Act passed in the second year of His present Majesty's Reign, entitled, “An Act to Incorporate a Joint Stock Company to improve the Navigation of the Grand River."

[Passed 13th Feb. 1833.]

WHEREAS it is necessary to repeal part of, and to amend an Act passed in the second year of His present Majesty's Reign, entitled "An Preamble. Act to Incorporate a Joint Stock Company to improve the Navigation of the Grand River": Be it therefore enacted, by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Assembly of the Province of Upper Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of Great Britain, entitled "An Act to repeal certain parts of an Act passed in the fourteenth year of His Majesty's Reign, entitled An Act for making more effectual provision for the Government of the Province of Quebec in North America, and to make further provision for the Government of the said Province,'" and by the authority of the same, That the thirty-fifth clause of the said Act entitled "An Act to see. 35, repealed. Incorporate a Joint Stock Company to improve the Navigation of the Grand River," be, and the same is hereby repealed.

2nd Wm. 4, ch. 13,

Canal extended.

II. And be it further enacted by the authority aforesaid, That the said Company shall forfeit and lose all the benefits of their Charter, and Period for completing the privileges and powers thereby conferred, unless the said improvement contemplated up to the Indian Village, or Mohawk Castle, shall be completed within five years from the passing of this Act, so as to afford a navigable channel for Boats and Vessels drawing not less than Three Feet water.

CHAP..

Preamble.

CHAP. XXIII.

AN ACT to Incorporate a Joint Stock Company, for the construction of a Harbour at the mouth of the Twenty Mile Creek, on Lake Ontario.

[Passed 13th February, 1833.]

WHEREAS the construction of a safe and commodious Harbour at the mouth of the Twenty Mile Creek, in the Niagara District, would manifestly tend to the improvement of that part of this Province, as well as be of great advantage to all persons in any way concerned in the Navigation of Lake Ontario: And whereas James William Osgoode Clark, George Henry Kerr, James Secord, Peter Ware, John Weismer, Cyrus 'Culp, Isaac Overholt, and others, have petitioned to be by Law Incorporated, for the construction of such Harbour, by means of a Joint Stock Company:-Be it therefore enacted, by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Assembly of the Province of Upper Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of Great Britain, entitled "An Act to repeal certain parts of an Act passed in the fourteenth year of His Majesty's Reign, entitled ، An Act for making more effectual provision for the Government of the Province of Quebec in North America, and to make further provision for the Government of the said Province," and by the authority of the same, That the said James William Csgoode Clark, George Henry Kerr, James Secord, Peter Ware, John Weismer, Cyrus Culp, Isaac Overholt, together with all such other persons as shall become Stockholders in such Joint Stock or Capital as is hereinafter mentioned, shall be, and they are hereby ordained, constituted, and declared to be a Body Corporate and Politic, in fact and in Law, by and under the name and style of The Louth Harbour "The President, Directors and Company of the Louth Harbour," and Company Incorpo- that by this name they and their successors shall and may have continued succession, and by such name shall be capable of contracting, and being contracted with; of suing, and being sued; pleading, and being impleaded; answering, and being answered unto in all Courts or places whatsoever, in all manner of suits, actions and complaints, matters and causes whatsoever; and that they and their successors may and shall May have a common have a Common Seal, and change and alter the same at their will and pleasure; and also, that they and their successors, by the name of the President, Directors and Company of the Louth Harbour, shall be in Law capable of purchasing, having and holding, to them and their suc

rated.

Seal.

cessors, any Estate, real, personal or mixed, to and for the use of the said Company, and of letting, conveying, or otherwise departing therewith, for the benefit, and on the account of the said Company, from time to time, as they shall deem necessary and expedient: Provided always, that nothing herein contained shall extend, or be construed to extend to allow the said Company to carry on the bussiness of Banking.

II. And be it further enacted by the authority aforesaid, That the said Company be, and they are hereby authorized and empowered, at struct a Harbour at Company may contheir own costs and charge, to construct a Harbour at the mouth of the the mouth of the Twenty Mile Creek, in the Township of Louth, in the Niagara District Twenty Mile Creek. aforesaid, which shall be accessible to, and fit, safe and commodious, for the reception of such description and number of Vessels as commonly navigate the said Lake; and also to erect and build all such needful Moles, Piers, Wharves, Buildings and Erections whatsoever, as shall be useful and proper for the protection of the said Harbour, and for the accommodation and convenience of Vessels entering, lying, loading and unloading within the same, and to alter and amend, repair and enlarge the same, as may be found expedient and necessary.

with the occupiers

done in the construc-

III. And be it further enacted by the authority aforesaid, That the Directors of the Company shall be, and they are hereby empowered to Company may agree contract, compound, compromise and agree with the owners and occu- of ground for Land piers of any Land through or upon which they may determine to cut and taken, or damages construct the said intended Harbour, with all necessary and convenient tion of the Harbor. roads, streets and approaches thereto, to be constructed and made, either for the absolute purchase of so much of the said land as they shall require for the purposes of the said Company, or for the damages which he, she or they shall or may be entitled to recover from the said Company in consequence of the said Harbour, Roads and Streets, and Approaches thereto being cut and made, and constructed in and upon his, her or their respective Lands, other than the pond of the said Twenty Mile Creek, which is hereby vested in the said Company; and in case of any disagreement between the said Directors and the owners or occupiers aforesaid, it shall and may be lawful for the Directors from time to time, as often as the said Directors shall think fit, for each owner or occupier so disagreeing with the said Directors, either upon the value determine disputes. of the Lands and Tenements proposed to be purchased, or upon the amount of damages to be paid to them as aforesaid, to nominate and appoint one or more indifferent person or persons, and for the said Directors to nominate an equal number of indifferent persons, who, together with one other person, to be elected by ballot by the persons so named, shall be the Arbitrators to award, determine, adjudge and

Arbitrators may be appointed to