CHAP. 168.

An Act to incorporate the Northern Bank.

[Assented to 25th June, 1903.]

HEREAS the persons hereinafter named have, by their Preamble. petition, prayed that an Act be passed for the purpose of establishing a bank in Canada, and it is expedient to grant the prayer of the said petition: Therefore His Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

1. The persons hereinafter named, together with such others Incorporaas may become shareholders in the corporation by this Act tion. created, are hereby constituted a corporation by the name of "The Northern Bank," hereinafter called "the Bank."

Corporate

name.

2. The capital stock of the Bank shall be two million Capital. dollars.

3. The chief office of the Bank shall be at the city of Chief office. Winnipeg, in the province of Manitoba.

directors.

4. Sir Daniel Hunter McMillan, K.C.M.G., Frederick Provisional William Stobart, James H. Ashdown, George Reading Crowe, William Robinson and Douglas C. Cameron, all of the said city of Winnipeg, shall be the provisional directors of the Bank.

Act.

5. This Act shall, subject to the provisions of section 16 Duration of of The Bank Act, remain in force until the first day of July, in the year one thousand nine hundred and eleven.

1890, c. 31.

OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the King's most Excellent Majesty.

CHAP. 169.

An Act respecting the Ontario and Qu'Appelle Land
Company, Limited.

[Assented to 25th June, 1903.]

WHEREAS the Ontario and Qu'Appelle Land Company, Preamble. Limited, has, by its petition, prayed that it be enacted as

hereinafter set forth, and it is expedient to grant the prayer of 1887, c. 118 the said petition: Therefore His Majesty, by and with the 1891, c. 120. advice and consent of the Senate and House of Commons of Canada, enacts as follows:

from sales

of lands.

1. No dividend shall be deemed to impair the capital of the Dividends Ontario and Qu'Appelle Land Company, Limited, hereinafter called "the Company," by reason only of payment thereof out of the proceeds of sales of lands or other property in which the capital of" the Company" has been invested, and the directors of the Company may, from time to time, declare and pay dividends out of the funds of the Company, including moneys received from sales of lands; provided that the unsold lands Proviso. and other remaining assets of the Company are sufficient to meet all the liabilities of the Company, including the nominal paid-up capital.

2. The board of directors may, from time to time, repay Repayment of capital to the shareholders of the Company by instalments pari Shareholders. capital to passu in such amounts as they determine, and the capital of the Company and the par of the shares thereof shall, from time to time, be and be deemed to be reduced by the amounts so repaid, provided that all the liabilities of the Company at the time of any such payment are fully paid.

3. At any time after all the lands of the Company have been Power to sold, all liabilities of the Company being first fully paid and wind up Company. discharged, the shareholders of the Company may at a special general meeting pass a resolution declaring that the Company is wound up; whereupon all the remaining assets of the Company shall forthwith be equally distributed among the

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shareholders

shareholders in proportion to the amounts of their respective shares of the capital of the Company; and thereupon the Company shall be deemed to have been wound up, and shall cease to exist.

OTTAWA Printed by SAMUEL EDWARD DAWSON, Law Printer to the King's most Excellent Majesty.

CHAP. 170.

An Act to incorporate the Ontario and Quebec Power

WE

Company.

[Assented to 24th October, 1903.]

WHEREAS a petition has been presented praying that it Preamble. be enacted as hereinafter set forth, and it is expedient

to grant the prayer of the said petition : Therefore His Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

1. Thomas Ahearn, Warren Young Soper, Alexander IncorporaLumsden, Erskine Henry Bronson and Levi Crannell, all of tion. the city of Ottawa, in the province of Ontario, together with such persons as become shareholders in the company, are incorporated under the name of "The Ontario and Quebec Power Corporate Company," hereinafter called "the Company."

name.

2. The persons named in section 1 of this Act are constituted Provisional the first or provisional directors of the Company, a majority of directors. whom shall form a quorum; and they may forthwith open stock books and procure subscriptions of stock for the undertaking, and receive payments on account of stock subscriptions, and carry on the business of the Company.

3. The capital stock of the Company shall be five hundred Capital stock. thousand dollars, divided into shares of one hundred dollars

each.

2. After the whole of the capital stock of the Company has Increase of been issued and fifty per cent thereof has been paid up, the capital. capital stock may be increased from time to time to an amount not exceeding two million dollars, by resolution of the shareholders, approved of by the votes of the holders of at least two-thirds of the issued stock of the Company present or represented by proxy at a special general meeting of the shareholders duly called for the purpose of considering such resolution, and such increased capital stock shall be issued, and may be held subject to the same conditions, and dealt with in the same manner, as the original capital stock of the Company.