1893 Nova Scotia Chapter 142 - An Act to amend the Act, 30 Victoria, Chapter 36, entitled An Act to incorporate the Windsor and Annapolis Railway Company

An Act to amend the Act, 30 Victoria, Chapter 36, entitled "An Act to incorporate the Windsor and Annapolis Railway Company," and the Acts in amendment thereof, and to authorize the purchase of the Western Counties Railway, now called the Yarmouth and Annapolis Railway, by the Windsor and Annapolis Railway Company, "Limited," and for other purposes.

An Act was approved by the Nova Scotia legislature on April 28th 1893 to allow the Windsor and Annapolis Railway to purchase the Yarmouth and Annapolis Railway (formerly known as the Western Counties Railway).

A summary of the act is shown just below, while digital images of the four pages of the act are shown at the bottom of this page.

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Chapter 142.

An Act to amend the Act, 30 Victoria, Chapter 36, entitled "An Act to incorporate the Windsor and Annapolis Railway Company," and the Acts in amendment thereof, and to authorize the purchase of the Western Counties Railway, now called the Yarmouth and Annapolis Railway, by the Windsor and Annapolis Railway Company, "Limited," and for other purposes.

(Passed the 28th day of April, A. D. 1893.)

Summary of the sections of the Act:

Section 1 - permits the Windsor and Annapolis Railway Company, once authorized by a majority vote of its shareholders, to purchase the Yarmouth and Annapolis Railway, including all lands, franchises, rights, equipment, plant, rolling stock, etc.; free from all encumbrances and charges thereon.

Section 2 - lists the price to be paid for the purchase, totalling £265,000. The payment was to be made as follows: £130,000 by the issue of 4 percent debenture stock in the Windsor and Annapolis Railway Company, £50,000 by the issue of 2500 5 percent preference shares of £20 each, fully paid up in the Windsor company, and £85,000 by the issue of 4250 ordinary shares of £20 each, fully paid up in the Windsor company.

The above amounts were to be paid in trust to agents in London, England, who would, after paying necessary expenses, pay out to the claims of creditors of the Yarmouth and Annapolis company. Any balance after paying off the creditors was to be paid to the shareholders of the Yarmouth and Annapolis company.

Section 3 - the Windsor company was authorized to issue £500,000 4 percent debenture stock to pay the sum mentioned in section 2, to pay off certain 6 percent and 4 percent debentures, and any remaining for general purposes.

Section 4 - The Windsor company was also authorized to increase its share capital to £500,000 (from the existing limit of £179,000).

Section 5 - The resolution passed by shareholders in the Windsor company referred to in section one was to be explicitly mentioned in the deed of conveyance of the purchase.

Section 6 - The Windsor and Annapolis Railway as it then existed, and the Yarmouth and Annapolis Railway to be purchased, would be known as the Dominion Atlantic railway company, limited, and once approved by the shareholders the company would be incorporated under the name.

Section 7 - Any part of chapter 36, 30 Victoria, and acts in amendment, inconsistent with the current act were repealed.

Section 8 - References in the current act to sums of money were declared to be in sterling money of Great Britain.

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Reference Tag

Please use this citation when referring to this page: 1893_Nova_Scotia_Chapter_142_-_An_Act_to_amend_the_Act,_30_Victoria,_Chapter_36,_entitled_An_Act_to_incorporate_the_Windsor_and_Annapolis_Railway_Company

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Digital copy of the Act:

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