The Company may hold stock in certain other Companies. Consent of two thirds of the shareholders at a general meeting required. Exercise of confirmed. which may be created by reason of the amalgamation of either of said Companies with other Bridge or Tunnel Companies, or may agree as and for the purposes aforesaid to and with any other Railroad or Railway Company upon behalf of which by the Acts of Incorporation of The Company power and authority has been conferred to use its funds by way of loans or otherwise. 2. The Company may hold stock or shares, or avail itself of any of the rights or powers given or reserved or purported to be given or reserved to The Company, or to any other Railway or Railroad Company, in the Detroit River Tunnel Company, the Grand Trunk Railway Company, or the International Bridge Company, or any of them, by any Acts of the late Province of Canada, or of the present or any previous session of the Parliament of Canada, whereby power is given to the said Tunnel, Railway, or Bridge Companies, or any of them, to agree with The Company, or whereby rights are reserved to The Company or other Railway cr Railroad Companies in respect of the matters in such Acts severally specified, and the right to accept and exercise such powers or to enter into the agreements in the said Acts specified is hereby recognized. 3. No liability or expenditure shall be incurred or powers exercised under the two next preceding sections, unless the consent of two-thirds of the shareholders shall have been obtained at any half yearly general meeting in terms of the seventh section of the "Great Western Railway Act, 1870," or at a special general meeting if deemed expedient to be called for the purpose. 4. The exercise by The Company of the rights and powers concertain rights Lained in the several Acts, the capital mentioned in each of which was consolidated by "The Great Western Railway Company's Financial Act, 1871," and therein recited, is hereby confirmed. ized as afore way; which is tage of Canada. Works author- 5. The works authorized by the Acts mentioned in the next said to be part preceding section, shall be known as the Great Western Railway, of G. W. Rail- and the Great Western Railway, besides being in virtue of a work for the statutory provisions of the legislature of the late Province of general advan- Canada, part of the main trunk line of railway throughout the whole length of that Province, and besides being a railway extending beyond the limits of the Province of Ontario, is, and the said works are, hereby declared to be for the general advantage of Canada; and the same shall continue to be subject to the provisions of "The Railway Act," forming chapter sixty-six of the Consolidated Statutes of Canada, except those contained in the sections between the second and the one hundred and twenty-fifth, both inclusive. Time for cer tain work extended. 6. The time limited for the completion of the railway between Glencoe and Fort Erie is hereby extended for the further period of twelve months from such limitation. 7. The Act passed in the thirty-third year of the reign of Her Short title o Majesty, chaptered fifty, and intituled "An Act to amend the 33 V., c. 50. Acts of incorporation of the Great Western Railway Company," may be cited as "The Great Western Railway Act, 1870." S. This Act may be cited as "The Great Western Railway Act, And of this 1872." Act. " CAP, LXVI. An Act to legalize and confirm the Lease to the Northern Railway Company of Canada of the Lines of Railway of the Northern Extension Railways Company. [Assented to 14th June, 1872.] HEREAS by an Act of the Legislature of the Province of Preamble. An Act to amalgamate the Toronto, Simcoe and Muskoka Junction Railway Company and the North Grey Railway Com- Act of Ontario, Company." And whereas, by an Act of the legislature of the Act of Ontario, purpose con Lease mentioned in the 1. The indenture of lease for the above named tained in the schedule to this Act, and approved by the respective Preamble proprietors confirmed proprietors of the Northern Railway Company of Canada and the Northern Extension Railways Company is hereby legalized and confirmed. SCHEDULE. THIS INDENTURE made the tenth day of April, in the year of our Lord one thousand eight hundred and seventy- two, between the Northern Extension Railways Company, hereinafter called the lessors, of the first part, and the Northern Railway Company of Canada, hereinafter called the lessees, of the second part: 1. Whereas by an Act of the Parliament of the Province of Ontario, thirty-three Victoria, chapter thirty, entitled “An Act to incorporate the Toronto, Simcoe and Muskoka Junction Railway Company," the said Toronto, Simcoe and Muskoka Junction Railway Company were incorporated as a Railway Company for the purpose of constructing a railway from some point on the railway of the said lessees, within the County of Simcoe, to unite the waters of lake Simcoe with those of lakes Muskoka and Rosseau, through and within the Counties of Simcoe, Ontario and Victoria, with branches and extensions to the Georgian Bay: 2. And whereas by Act of the said Parliament of Ontario, thirty-four Victoria, chapter thirty-six, the North Grey Railway Company were incorporated as a Railway Company for the purpose of constructing a railway from some point on the Northern Railway of Canada at or near the Town of Collingwood, in the County of Simcoe, to the Village of Meaford, in the County of Grey, with power to extend the same to the Town of Owen Sound, in the said County of Grey: 3. And whereas by the said Acts it is amongst other things enacted that the said Railway Companies thereby respectively incorporated may enter into an agreement with the said lessees for leasing to them the railways of the said Companies, and that upon the execution of any lease the said lessees should be empowered to exercise all the rights and privileges conferred upon the said Companies by the said Acts in the working of the said railway: 4. And whereas by an Act passed by the said Parliament of Ontario, in the thirty-fifth year of the reign of Her Majesty Queen Victoria, entitled "An Act to amalgamate the Toronto, Simcoe and Muskoka Junction Railway Company and the North Grey Railway Company under the name of the Northern Extension Railways Company," the said Toronto, Simcoe, and Muskoka Junction Railway Company and the said North Grey Railway Company were amalgamated and became one corporation under the name and style of the Northern Extension Railways Company: 5. And whereas under the provisions of the said Acts incorporating the Toronto, Simcoe and Muskoka Junction Railway Company Company and the North Grey Railway Company, the said respective Companies entered into leases of their respective lines of railway upon certain terms and conditions: 6. And whereas the said recited Act, amalgamating the said Companies, authorized the said lessors to enter into any agreement for any period of time with any other railway company whose road is situate on the line of the said Company or whose line can connect therewith, for leasing the railway and works of the said lessors or any part thereof, and also to consolidate into one the said herein before recited leases as may be necessary or expedient to effect and carry out the said amalgamation of the said leases: And whereas the line of the said lessees does connect with the line of the said lessors: 7. And whereas it is the mutual interest of the said lessors and the said lessees to secure permanent connections between the existing line of the Northern Railway and the existing and projected lines of the said lessors, and to accelerate the construction and completion of the said projected lines, and to secure thereafter the efficient and profitable working thereof, the said lessees have agreed to enter into an arrangement with the said lessors to work their said lines for twenty-five years upon the terms and conditions hereinafter mentioned: 8. Now this Indenture witnesseth: Firstly, that the said lessors will forthwith, by all reasonable means and resources within their power and control, complete the said lines of railway from the points of junction with the Northern Railway upon a location and in accordance with maps, drawings and specifications, to be mutually agreed upon by the Directors of the Company of the lessors and the Canadian Board of Directors of the lessees, and in case of disagreement between the Board of Directors of the lessors and the Canadian Board, for the time being, of the lessees as to the completion of the said work, it shall be lawful for the Board of Directors of the lessors to nominate one indifferent arbitrator and the Canadian Board, for the time being, of the lessees to appoint another indifferent arbitrator, who, together with a third, to be chosen by them, shall decide as to the completion of the said works according to said maps, drawings and specifications, and shall have the necessary power to direct what is requisite to be done to render the same complete, according to the said maps, drawings and specifications; and it shall and may be lawful for the said lessees, in the event of the said works being inefficiently or incompletely constructed, to supply any defects or omissions therein existing, according to the opinion of the said arbitrators, and to charge the costs thereof against the said lessors, and to deduct the same out of any moneys payable to the said lessors hereunder; 9. Secondly-In pursuance of the powers mentioned in the above recited Act, the said lessors do hereby agree to lease unto the said lessees the whole of the said railway from Barrie to Gravenhurst in the one direction, and from Collingwood to Meaford in another direction, and such branches and extensions thereof as may thereafter be constructed under the powers of the said recited Act, and as may be accepted by the said lessees under the provisions as to the leasing of such branches or extensions hereinafter contained, and to place the said lessees in possession thereof from time to time, as and when completed as aforesaid, so that the said lessees may work the same in such manner as they may deem most profitable and advantageous, and shall collect, receive and take the tolls, fares, receipts and earnings in respect thereof: 10. To have and to hold possession of the said lines of railway from Barrie to Gravenhurst, and from Collingwood to Meaford, when completed as aforesaid, and the extensions and branches thereof, when completed by the lessees as aforesaid, (subject to certain running powers of the Midland Railway Company, between the Narrows and Lake St. John hereinafter mentioned) for the period of twenty-five years, to commence and take effect from the date hereof: 11. Yielding and paying half yearly to the said lessors such sum, during the first five years of the said term, as shall amount to thirty-five per cent of the gross receipts arising from the traffic carried by the said lessees over the said railways of the lessors, and during the next five years of the said term, forty per cent. of the said gross receipts, and during the remaining portion of the said term, forty-five per cent. of the said gross receipts: 12. Provided always, and it is hereby understood and agreed that the said lessors shall not be entitled to receive, nor shall the said lessees be bound to pay any portion whatever of the said gross receipts, unless and until the said lines of the said lessors shall have been completed and placed in running order from the Barrie Junction to the station in or nearest to the Village of Orillia ; nor shall the lessors be entitled hereunder to receive any portion of the said gross receipts beyond the said last mentioned station, unless and until the said line of the said lessors shall have been completed and placed in running order from the said last mentioned station to the station at or nearest to Lake St. John; nor shall the said lessors be entitled hereunder to receive any portion of the said gross receipts of the said line beyond the said station at or nearest to Lake St. John, unless and until the said line of the said lessors shall have been completed and placed in running order from the said last mentioned station to the station in or nearest to the Village of Washago; nor shall the said lessors be entitled to receive hereunder any portion of the gross receipts of the line beyond the said station in or nearest to the Village of Washago, unless and until the line of the said lessors shall have boon |