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B. Macgowan, Henry Drake, Malcolm Murchi-on, and all other persons who may hereafter become holders of stock in the Company to be by this Act created, are hereby constituted and declared to be a body corporate by the name of the “Cornwall Creamery Company,” and may in such name sue and be sued, plead and be impleaded in any Court of Law or Equity in this Province, and shall have power to take, Corporation. acquire, hold possess, and enjoy in fee simple or otherwise, any lands, tenements, hereditaments, real and personal estate, as it may require for the purposes of its business in connection with the manufacture, purchase and sale of butter and cheese, and may sell, lease, mortgage, or otherwise dispose of the said property as it may deem proper, and generally to transact such other business as may be deemed expedient in the interest of the Company.
2. The said Company may have a common Seal. seal, wbich they may alter at pleasure, and may elect in such manner as they may deem proper all necessary directors and officers, fix their compensation and define their duties, and make by-laws and regulations for the government and management of its affairs.
3. The first meeting of the Company shal) First?meeting be called by notice to be published for at least one week in a newspaper published in Charlottetown, and such notice shall be signed by one or more of the persons named in this Act, and shall set forth the purposes of the meeting and the time and place the same is to be held.
4. The capital stock of the said Company Capital stock. shall be five thousand dollars, divided into
shares of forty dollars each, but it shall be lawful for the Company from time to time to increase the capital stock to an amount not exceeding fifty thousand dollars by a resolution adopted by a majority of the votes of the Shareholders at a meeting convened for that purpose, provided always that the said Company may commence operations so soon as fifteen hundred dollars are subscribed.
5. Each Shareholder shall be individually liable to the creditors of the said Company for the debts and liabilities thereof to the amount unpaid on the stock held by him and no further.
Number of votes.
6. Each Shareholder shall be entitled to one vote for each share held by him in his own name upon which all calls then due shall have
been paid up
An Act to Incorporate the Abegweit Athletic Association.
(Assented to 7th May, 1887.)
HEREAS several persons have formed
themselves into an Association for the encouragement of athletic sports and physical culture and desire to be incorporated into a Company.
Be it therefore enacted by the Lieutenant Governor, Council and Assembly, as follows:
1. That William A. Weeks, junior, Arthur A. Bartlett, George E. Robinson, Daniel J. Macdonald, Æneas A. Macdonald, Otto R.
Crabbe, Charles R. Smallwood, and every such
2. The capital stock of the said Corpora- Capital stock. tion shall consist of one thousand dollars, divided into shares of five dollars each, and may be increased from time to time to any amount not exceeding in the whole six thousand dollars, as a majority of the Shareholders at a meeting to be specially called for that purpose shall agree upon, the time and place of such meeting and the manner of notice to be given, to be determined upon by a by-law of the Corporation.
3. It shall be lawful for the said Corporation to take, receive, hold, possess, and enjoy in fee simple or otherwise, any lands, tenements and hereditaments, real and personal estate, not exceeding in value six thousand dollars, and may sell, lease, mortgage, or otherwise dispose of the said property as it may deem proper.
4. The said William A. Weeks, junior, Arthur A. Bartlett, George E. Robinson,
Provisional , directors, &c. Shares.
Daniel J. Macdonald, Æneas A. Macdonald, Otto R. Crabbe and Charles R. Smallwood, shall be provisional directors of the said Association until replaced by others duly eler.ted in their stead, and it shall be their duty to open stock books and to procure subscriptions for the undertaking, to allot stock to the subscribers thereof, to call a general meeting of the shareholders for the election of directors as is hereinafter provided, and generally to-do all such other acts as shall be necessary for the organization and management of the Association.
5. No shareholder shall be capable of holding more than ten shares in the said Association.
6. So soon as the capital stock shall have First meeting been subscribed the provisional directors, or a
majority of them, shall call a meeting of the shareholders at such time and place in Charlottetown as they may think suitable, at which general meeting the shareholders present in person or by proxy, (the holder of such proxy being a shareholder) shall elect by ballot seven of their number to be directors, and from and after the completion of such eletion the powers and functions of the provisional directors shall cease and determine, but nothing herein contained shall debar or exclude the provisional directors from being elected the annual directors for the ensuing year or any subsequent year.
7. The board of seven directors shall adAnnual elec- minister the affairs of the Association and shall
be elected annually at the genral me ting, and the qualification of such directors shall be set forth by the by-laws of the said Association.
8. The general annual meeting of the Annual meetshareholders of the said Association for the transaction of the general business of the said Association, and the election of directors shall be held on the first Tuesday in April of every year, or on such other day as the said Association may select by a majority vote taken at any annual meeting, previous notice of such change having been given the shareholders as by by-laws they may deem necessary. If at any time an election of directors be not made, or do not take effect at the proper time, the Association shall not be held to be thereby dissolved, but such election may take place at any general meeting of the Company duly called for that purpose, and the retiring directors shall continue in office until their successors are elected.
9. The directors shall make all by-laws By laws. with respect to the transfer of shares.
10. The directors may make such calls alls. upon the capital stock of the Company as they shall from time to time dei'm expedient.
11. No shareholder in this Association shall liability of in any manner be liable to or be charged with payment of any debt or demand due by the Association beyond the amount of his unpaid subscribed share or shares in the capital stock of the Association, the joint stock and property alone of the said Association shall be liabie for the debts and engagements of the same.
12. The City Council of the City of Charlottetown shall have power and authority to may exempt order that the real property of the said Asso- ment. ciation, whether it be freehold, leasehold, or