1690 Hone tobe dere. Act 16 Vie 162, tonpply. ection 9 of 30V. 0 16h, Send, Toeorportion Corporate mane and powers Cop. 180, 181. Inlerw'l. Bank of Canada—Amend!. 22 ¥ of whatever value the Directors may think fit to issue the ‘bat-no bank note or bill of the Bank under the nominal af five shillings shall be issued or put in circulation ; Provid that the several provisions of an Act passed in the sixt year of Her Majesty's Reign, intituled, n Act to encoura Ysoue by the Chartered Banks of this Province of notes in the manner provided by the general banking law, shall be are hereby declared to be applicable to this Act. ‘The thinty-ninth section of the said firstly above tloned Act shall.be and is hereby amended by expuny therefrom the two provisoes to the said section. CAP. CXXXI. ‘An Act to incorporate the Bank of Cansdye, [Assented to 16th'duguot, 1888.} HEREAS the Honorable Wi Joseph Curran Morrison, Angus Morrison, Esquire; Honorable John Ross, and William Henry Boulton, Frederick Cumberland, Esquires, all of the City of ‘Torom have by their petition prayed that they and their legal rep tives might be incorporated for the purpose of establiah Bank in the City of Toronto; And whereas: conducive... ab teerioonctsy ‘the agriealtaral 3 ofthe raid locality ; And whereas it but just that the said persons and others who see fit to ciate themselves, should be incorporated for the said purp Therefore, Her Majesty, by and with the advice and conset ofthe Legislative Couneil and Assembly of Canada, enact follows : 1, The several persons hereinbefore named, and such othe; persons as may become shareholders in the Company to be this Actereated, and their assigns, shall be, and they are here treated, constituted and declared to. be a corporation, body corporate and politie, by the name of the “ Bank of Can fand shall continae stich Corporation, and shall. awe, succession under @ corporate seal, -"eith- pewer-to alter and “End be sued, ime ‘Courts of Law as other corporm: tions may do ; and shall have the power to acquire and ‘hold real and immoveable estate for the management of their busi Bessy ot exccediog the yearly vale of files thousand dolla curreney, and may sell, alienate or exchange the same, and acquire other insiead, and may, when duly organized. as hereinafter provided, make, ordain and establish such ruk regulations and by-laws as’ to them shall seem meet a necessary. for the p Directors election # ‘voted upo ‘the anno _ of servi ear of rovided shall take meeting | aid in a Bs the « trators ai deceased tively i1858, Bank of ‘Canada—Incorporotion. Cap 181. 694 iecessary for the due and proper adyninistration of their affairs py.taws find the management of the said Bank, (such by-laws, rales and regulations not being inconsistent with this “Act or ‘tary to the laws of this Province) : Provided, however, that Proviso jguck by-laws, rules and regulations shal be” submited. for $pproval to the stockholders or shareholders in the said Bank, ‘af their regular annual meetin, 2. The Capital Stock of the said Bank (the words “ the capi said Bank” meaning throughout this Act the corporation #3100 foresaid,) shall be three millions of dollars divided into shares ‘Si of fifty dollars, which shall be and are hereby. vested in the several persons who shall subscribe for the same, their legal representatives and assigns. B. The said Honorable William Cayley, the Honorable rin Deg Joseph Curran Morrison, Angus Morrison, Esquire, the Hono- rable John Ross, William Henry Boulton, Esquire, and Fre- derick Cumberland, Esquire, shall be the Provisional Directors of the sid Bank fo the purpose of opening books of subsrip- tion for the Stock of the said Bank, at the City of Toronto, ‘at such other places as to them shall seem mect, and to ‘eiehe ive ‘tubscriptions for the said Stock, and to do such other things Flare 0 the sa becrpln ad and the management ofthe affair of the sai ag ito ig dopo the fit general meeting of the Stoakbciom 6 foe de Seaton sot Directors as hereinafter mentioned. ar ates. ‘As soon as the sum on of dollars of the said steting tr tal Stock shall have b ribed, and two hundred section and fifly thousand dollars actually paid in’thereupon, it shall P= and may be lawful for the subscribers, or majority of them, to call a meeting at some place to’ be named in Toronto, for the purpose of proceeding to the election of the number of Directors for the said Bank, hereinafter mentioned, and such election shall then and there be made by a majority of shares voted upon, in the manner hereinafter described in respect of ‘the annual election of Directors, and the persons then and There choten. shall be the first Directors, and shall be capable pireclors to of serving until the first Monday of June, which will be in the serve ual year of ot ne, thongapd eight besiied and fifty-nine : June 180. Provided always that no sah meptig of the guid gubscyiber rev wo- naliake placy untla motes speeing int Sees of eceh saree meeting is published in one or more newspapers published in #** Toronto, ut least twenty days. previous to such time of mect- ing. ‘The shares of the Capital Stock sibsoribed for shall be tamatmente paid in and by such instalments, and at such times and places Es the said Directors ehall appoint ; and executors, adminis trators and curators paying instalments upon the ‘shares of deceased Shareholders, shall be and they are hereby respec ively indemnlded for paying ‘he same’; Provided always Pi: tn “ae pG92 Cap. 191. Rank of Canada—Incorporation. 28 Vio, percent. pay- that no share or shares shall be held to be lawfully subscribed Giested”” for unless a sum equal tot least ten per centum on the a secitiog subscribed for be actually paid at the time of subscribing$ Proviso: con- Provided further that it shall not be lawful for the saber bet iten Preee- to the Capital Stock hereby authorized to be raised, to comme: ere the business of Banking Until a sum not less than two hundred! Bisinet of” and fity thousand dollars shall have been duly paid in by such Booking. subscribers ; Provided further that the remainder of the said’ Erg, ge’ Capital Stock shall be subscribed ond paid up as follows, thet ‘the fall api to say : the sum of two hundred and fifty thousand dollew Seite. within eighteen months ; the further sum of two hundred and fifty thousand dollars within three years ; the further sum of} five hundred thousand dollars within four years ; the further ‘sum of five hundred thousand dollars within five years, and tise farther sum of five hundred thousand dollars’ within seven years after the said Bank shall have so commenced the business of Banking, under penalty of forfeitare of their Charter, ‘sutweriters _ 6. If _any person or persons subscribing for shares of the RY'EY'® Capital Stock of tho said Bank shall also be willing t Bey al, at the time of subscribing the full amount of the ‘shares, sit ‘cribed for, it shall and may be lawfal for the Directors of Bank, and at any time within the period hereinbefore Tina for sxbeeibing ‘such stock, to admit and receive such s scriptions an full payment’ or payment of any number instalments, bloat Fortaitare ot 7. IE sido Sepa 92 annals RDS Sts ‘Gapteal stock at the time or times required by the Directors aforesaid, such shareholder or shareholders shall incur a fot {bite tothe use of the said Bank of a sum of money equal 6} fen per centam on the amouat of such shares ; and mo aoe ee eat rth Dinca ‘tthe seid B (without any previous formality other than thirty days’ publi Satesofsnaree notice of thelr intention,) 10 sell at public auction the onmbish alls shares, or so many of the said shares as shall, after deduct ‘aronot paid, the reasonable expenses of the sale, yield a sum of ermal expres fe ie Le fu on ie Sal aE ee eet etires ley coe a ane ah ihe vos pra oy the, casero the sald bank, tial exccm, se er ee he Se a oak , isp ing et LR I Oe efectal “Taw as if the same ‘executed by the original holder or: Proviso: 1 holders of the shares of stock thereby transferred ; Provided! ee Goba? the directors or sharcholders af a. general meeting Hora remitting either in whole or in part, and’ oonditionally or wt conditionally, any forfeiture incurred by the non-payment 4 any instalment a8 aforesaid. fs to the said) being repuga the By-laws of ®. For the @l shall be seven of the capital held annually’ ing the fir, meetings the rule of votes dy a major shall be months 5 reotors sball of Vice-Pre: umber shall ‘vacant office the Director s dent shall Ail stunt the nex Provided al and proprieto ‘capital stock natural-born vided also t annual meet rectors in of re-elected fo 10. sats shal ot be the sai dissolved, such electo called forth failure of el such elect