Provisional directors: received, the signatures and subscriptions of such parties or persons as desire to become shareholders in the said Bank; and such books shall be opened at Toronto and elsewhere at the disretion of the Provisional Directors, and shall be kept open so long as their powers. they shall deem necessary: and so soon as Five Hundred Thousand Dollars of the capital stock shall have been subscribed upon the said stock books, and One Hundred Thousand Dollars thereof actually paid into some one of the present chartered banks in Canada, a general meeting shall be called of the subscribers thereof by notice published for at least four weeks in two newspapers of the said City of Toronto, such meeting to be held in Toronto aforesaid, at such time as such notice shall indicate; and at such meeting the subscribers shall proceed to elect seven Directors (two of whom only may be aliens) having the requisite stock qualification, who shall from thenceforward manage the affairs of the said corporation, shall take charge of the stock books herein before referred to, and shall continue in office until the first Wednesday in the month of July, which shall be in the year next after the year in which they are so elected, and until their successors in office shall be duly elected; and immediately upon such election being had the functions of the said Provisional Directors shall Election of directors. Chief place of business. 34 V., c. 5, to apply. Exception. Duration of Treasury certificate must be ob twelve months cease. 4. The chief place or seat of business of the said corporation shall be in the city of Toronto. 5. The Act passed during the last session of Parliament, intituled "An Act relating to Banks and Banking," and all the provisions thereof and of any Act that may be passed in th session amending the same, shall apply to the Bank hereby incorporated in the same manner as if it were expressly incorporated with this Act, excepting in so far as such provisions may relate only to banks already in existence, or to banks en commandite. 6. This Act shall remain in force until the first day of July, in the year of our Lord One Thousand Eight Hundred and Eighty-one. 7. The said Bank shall obtain from the Treasury Board, within twelve months from and after the passing of this Act, the certifitained within cate required by section seven of the said Act relating to Banks and Banking, passed in the thirty-fourth year of Her Majesty's reign, chapter five, in default of which this Act, shall become null and void and of no effect; and the charter hereby granted, and all and every the rights and privileges hereby conferred, shall be forfeited. CAP. CAP. LX. An Act to incorporate the Bank of Manitoba, [Assented to 14th June, 1872.] HEREAS Donald A. Smith, James McKay, George Stephen, Preamble. Sir Alexander Tilloch Galt and others, have by their petition represented that it will be conducive to the general prosperity of the Province of Manitoba, and greatly facilitate and promote its agriculture and commercial growth and its intercourse with the other Provinces of the Dominion, if a bank is established therein, and have prayed for incorporation under the name of " The Bank of Manitoba;" and whereas it is expedient to grant the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: porated. 1. Donald A. Smith, James McKay, George Stephen, Sir Alex- Certain ander T. Galt, K.M.G., the Honorable Marc Amable Girard, the persons incorHonorable John Sutherland, Henry Nathan (the younger), Robert Tait, John McTavish, Andrew McDermott and such others as shall become shareholders in the corporation hereby created, shall be and they are hereby constituted and declared to be a corporation, body corporate and politic, in fact, by and under the corporate name of the "Bank of Manitoba," and as such shall have perpetual Corporate succession and a common seal, and also all other powers incident to and necessary for the purposes hereinafter declared. name. and shares. 2. The capital stock of the said Bank shall be Five Hundred Capital stock Thousand Dollars, divided into five thousand shares of one hundred dollars each; and its chief office shall be at Fort Garry, or within one mile thereof, in the Province of Manitoba. directors. 3. Donald A.Smith, James McKay, Robert Tait, George Stephen, Provisional Sir Alexander T. Galt, John McTavish and Andrew McDermott, above named, shall be Provisional Directors for the purpose of organizing the said Bank; and they or a majority of them may cause stock books to be opened at such times and places as they or Stock Books. a majority of them shall think expedient, after first giving two weeks' notice thereof in one or more newspapers published in the City of Montreal, and in the Province of Manitoba; upon which stock books shall be recorded the subscriptions of such persons as shall desire to become shareholders in the said Bank, and such. books shall be kept open at the discretion of the said Provisional Directors, or a majority of them, so long as they shall deem necessary. 4. Whenever the capital stock of the said Bank shall have been First general meeting of subscribed, and One Hundred Thousand Dollars thereof shall have shareholders been bond fide paid into some one of the present chartered banks and election of of directors. Number of directors. 34 Vic., c. 5 o apply. Duration of treasury obtained of Canada, it shall be lawful for the said Provisional Directors, or a majority of them, after giving three weeks' notice in one or more newspapers published in the City of Montreal, and in the Province of Manitoba, to call a public meeting of the shareholders, to be held at such place in Canada, as shall be mentioned in such notice, for the purpose of electing Directors and for other purposes connected with the said Bank. And it shall be lawful at such meeting to elect the requisite number of Directors of the said Bank; and thereupon the duties of the Provisional Directors shall cease; and the Bank may thereupon issue its notes and carry on business. 5. The number of Directors of the said Bank shall be seven, subject to be increased or diminished from time to time by by-law to be passed as provided in the twenty-eighth section of the Act of Parliament of Canada, passed in the thirty-fourth year of Her Majesty's reign, entitled "An Act relating to Banks and Banking.” 6. The said Act and all the provisions thereof shall apply to the Bank hereby incorporated in the same manner as if the same were expressly incorporated with this Act, except in so far as such provisions may relate only to banking institutions already in existence, or to banks en commandite. 7. This Act shall remain in force until the first day of July in the year of our Lord One Thousand Eight Hundred and Eighty-one. 8. The said Bank shall obtain from the Treasury Board within Certificate of twelve months from and after the passing of this Act, the certifiboard must be cate required by section seven of the said Act, relating to Banks and Banking, in default of which this Act shall become and be null and void, and of no effect; and the charter hereby granted, and all and every the rights and privileges thereby conferred, shall be forfeited. within twelve months. Freamble. W CAP. LXI. An Act respecting the Toronto Savings Bank. [Assented to 14th June, 1872] HEREAS it is represented by the Trustees of the Toronto Savings Bank, that the said Bank has been in operation in the City of Toronto since One Thousand Eight Hundred and Fifty-four under the Act of the Legislature of the late Province of Canada, passed in the session held in the fourth and fifth years of Her Majesty's reign, and intituled "An Act to encourage the establishment of, and to regulate Savings Banks in this Province," and the amendments thereto;-that the said in part recited Acts, were repealed by the Act of the Parliament Parliament of Canada passed in the thirty-fourth year of Her Majesty's reign intituled " An Act respecting certain Savings Banks in the Provinces of Ontario and Quebec," except that a saving clause contained in the second section thereof continued the said Acts in force as regards the said Savings Bank and certain others, until the end of the session of Parliament commencing next after the first day of January, One Thousand Eight Hundred and Seventy-two;-that the said Bank is under the patronage of His Grace the Archbishop of Toronto, and has proved an incentive to savings by the industrial poor, and a source of assistance to charities in the City of Toronto,-that it would be impossible either to make a change in the present constitution of the Bank, or wind up its affairs within the time. limited as aforesaid, without serious injury to its affairs; and the said Trustees have prayed that an Act may be passed for an extension to the said Bank, of a further period of ten years; and whereas it is expedient to grant the prayer of the said petition : Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:-- 34 V., c. 7. vince of Cana V.. c. 6 con until the end next after 1st 1. The Act of the Legislature of the late Province of Canada, The Acts of passed in the session held in the fourth and fifth years of Her the late ProMajesty's reign, intituled "An Act to encourage the establishment da 4, 5, V of, and to regulate Savings Banks in this Province," and the Act of 2, and 27 the said Legislature passed in the session held in the twenty- tinued, as to seventh year of Her Majesty's reign, intituled " An Act to amend the said Bank the Act of 1841, relating to Savings Banks," shall, as regards the of the session Toronto Savings Bank aforesaid, remain in force and apply to the commencing said Bank until the end of the session of Parliament commencing Jan., 1882. next after the first day of January in the year of our Lord One Thousand Eight Hundred and Eighty-two and no longer, notwithstanding anything to the contrary contained in the Act of the Parliament of the Dominion passed in the session held in the thirty-fourth year of Her Majesty's reign, intituled "An Act 34 V., c. 7. respecting certain Savings Banks in the Provinces of Ontario and Quebec :" may invest 2. Provided always, that the said Savings Bank shall not hereafter In what secuinvest any money deposited or to be deposited with it, otherwise rities the Bank than in the stock or public securities of the Dominion, or of any deposits. of the Provinces of the Dominion, or in municipal debentures,— except only that the said Savings Bank may loan such moneys on the personal security of individuals or to corporate bodies, provided collateral securities to the amount of such loan, and of the nature of those on which it may invest money as aforesaid, or British or foreign public securities, or stock of some chartered bank in Canada, or stock in any incorporated building society, or bonds, or debentures, or stock of any other incorporated institution or company be taken by the said Savings Bank at the time when the loan is made, in addition to such personal or corporate security, and with power to sell such securities if the loan be not paid when due: and the said Savings Bank shall not make any loan directly or As to loans on indirectly real estate. Other investments to be called in. officers. indirectly on the security of real estate, or with reference to real estate, except only that nothing herein contained shall prevent the said Savings Bank from taking security upon real estate, in addition to such collateral securities as aforesaid, and subsequently to the making of the loan, and subsidiary to the security origi nally taken therefor. 3. The said Savings Bank shall, as soon as possible after the passing of this Act, call in and realize all such moneys as aforesaid, which at the time of the passing of this Act shall be invested or loaned in any other manner or on any other security than as required by the next preceding section. Inspection of 4. Any officer of the financial Department, or other person the Bank by Government appointed to visit and inspect Government Savings Banks, may visit and inspect the said Toronto Savings Bank, and shall have the same powers in so doing to investigate and report upon the business and affairs thereof, as any Inspector appointed by the Government to inspect Government Savings Banks or agencies for receiving deposits, has with respect to them, under the regulations in that behalf, made by the Governor in Council under the Act passed in the thirty-fourth year of Her Majesty's reign, chapter six. Preamble. CAP. LXII. An Act to legalize a certain Agreement entered into between The Grand Trunk Railway Company of Canada and the Corporation of the Town of Galt, and for other purposes therein mentioned. WHE [Assented to 14th June, 1872] HEREAS the Corporation of the Town of Galt and "The Grand Trunk Railway Company of Canada," by their respective petitions, have represented that they have respectively entered into the agreement set forth in the schedule to this Act, for the purposes in the said agreement mentioned; and that, on the part of the said Corporation of the Town of Galt, the Local Legislature of the Province of Ontario has legalized the said agreement; and whereas the said petitioners have prayed that an Act may be passed legalizing the said agreement so far as it relates to the said railway Company, and authorizing said Company to carry out all the provisions of the said agreement on their part; and The Grand Trunk Railway Company of Canada have also prayed for power to extend their line to the Village of Waterloo, in the County of Waterloo, in the said Province of Ontario; or for power to enter into an agreement with the Corporation of the |