ROYAL GAZETTE.

4015

made up to three o'clock, on the day preceding the discount day, which list shall be called a Delinquent Sheet; and it shall he the duty of the President or Chairman, on each and every discount day, as aforesaid, to read the name or names contained in such delinquet sheet to the Board of Directors ; and in case the name of any Director shall ap- pear in such delinquent sheet either as promisor, acceptor, endorser, or surety, it is hereby declared illegal for such Director to sit at the Board to take part in the management of the affairs of the said Bank, during the continuance of such delinquency.

XXXV. In the event of any Director continuing a delin- quent, as aforesaid, for ninety consecutive days. at.any one time, such continued delinquency shall disqualify such Director from holding his seat: and it shall be the duty of the President and other Directors, forthwith, to proceed in ﬁlling up the vacancy in the manner prescribed in the fourteenth section of this Act as in the case of death or absence from the Island.

XXXVI. No action shall be brought or maintained upon any Bank Bill or Bank Note which shall be issued by the said Corporation, before such Bill or Note shall have been presented at the Bank for payment,and default in payment shall thereupon take place.

XXXVI]. All and every the shares in the Capital Stock of the said Bank, and all the proﬁts and advantages ofsuch shares respectively shall be deemed and considered to be of the nature of and shall be personal estate and transmissible as such accordingly.

XXXVIII. The shares in the Capital Stock of the said Bank, shall be liable to be seized and taken in Execution, and sold in like manner with other personal property. Provided always,that the Sheriff or other Ofﬁcer, executing such execution, shall leave a copy ofsuch execution, certiﬁed by the Sheriff, or his Deputy, with the Cashier of the said Bank, and the shares in the Capital Stock of the said Bank, so liable to such execution, shall be deemed to be seized in exe0ution when such copy is so left, and the sale shall be made within thirty days after such seizure; and on produc- tion of a Bill of sale from the Sheriff, the Cashier of the said , Bank shall transfer the number of shares sold under such execution to the purchaser or purchasers thereof, and such transfer shall be valid and effectual. notwithstanding there f may be any debt due to the said Bank from the person or persons whose shares shall be seized and sold. Provided, also, that the said Cashier shall, upon the exhibiting to

him of such certified copv of the execution, be bound to give such b‘herifl" or other Ullicer a certificate of the number (if shame, in the said Capital Stock, held by the judgmcnt| dfbitll' named in such execution; and the shares of sue ii iudgment debtor, in such Capital Stock. shall be bound byI such execution Only front the time when such copy of the; execution Shall be so left with the Cashier. :

XXXIX. And in case it should hereafter be found neces- sary at any time alter the payment in and certificate of such ﬁrst mentioned Capital, and within seven years from the time of passing this Act, to increase the Capital Stock of the Said Bank, the same may be effected by resolution of the Directors, or the major part of them,for the time being, sanctioned and approved of by a majority of votes of the shareholders present, in person or by proxy, at a general meeting convened, after spccnl notice of the same and its intended object, such additional Capital stock‘may he raised by the issue of additional shares, severally, of the value be- fore tnentioned. Provided that the whole ofsuch additional stock shall riot'exceed fifteen thousand pounds, thereby making the amount of Capital Stock, of thesaid Dink, thirty thousand pounds, and in the whole six thousand shares.

XL. Such additional shares shall be sold at public Aue. tion, in separate lots of five shares each, as follows, that is to sav; two thousand ﬁve hundred pounds, making five hundred shares at such time as the Directors shall appoint, and the residue of such increased additional Capital at such times as the Directors may, from time to time, determine,

,but not less than two thousand ﬁve hundred pounds to be

sold at any one time.

XLI. The said Directors shall give, at least, thirty days notice of the time of sale of any such increased stock,in the Royal Gazette newspaper, published in Charlottetown, in which notice shall be speciﬁed the time when such addition- al stock, with the advance or premium thereof, will be re quired to be paid into the said Bank.

XL“. The whole of such advance or premium, if any. ﬁrst deducting the charges of sale, shall be divided in equal proportions among the shares in the stock of such Bank, as well the old as the new stock, and such dividend, of the said premium, shall be declared and paid by the Directors immediately after the payment into the Bank of the pur- chase money of' the said additional shares; and banking operations may take place upon each respective amount of such additional Stock sold, as aforesaid,when the Directors. or a majority of them,together with the Cashier of the said Bank. shall have signed and veriﬁed by oath, and ﬁled in the oﬁiee of the Colonial Secretary, of this Island, a certiﬁ- cate that such amount of Capital Stock. at any time called in, has actually been paid into the said Bankin current gold and silver coins of this Island, and not before.

XLlll. The said additional shares shall be subject to all the rules, regulations and provisions to which the original stock is subject, or may hereafter be subject by any law of this Island. ‘

XLIV. Suspension of specie payments in demand, at the Bank of the said Corporation, for ninety days within any one year. either consecutively, or at intervals, or other breach of the provisions herein contained, upon which the said Corporation is empowered to issue and circulate Pro- missory Notes, shall cause a forfeiture of the privileges herein contained, and the said privileges shall cease and determine upon such forfeiture-s as if the period for which this Act has been passed had expired.

XLY. This Act shall continue and be in force until the first day of May, which will he in the year of Our Lord one thousttnd eight hundred and ninety.

A PROCLAI‘IATION BY ms EXCELLENCY GEORGE DUNDAS, ESQUIRE, Lit‘lttmmzl Governor and Comnmm/w—in-(,‘ltirf in one" our .lItr dirtiest/[5 Islaml Prim'c JL‘I/u'll)‘l/, (1/le l/II.‘ 'l't'rrilori/ks l/zt‘rt'un/o belonging, ('l/mu‘t‘llo/‘, lz't'r' [1.5.] Admiral mu] Ordinary ofl/tc same, tl‘t‘. tj‘t'. (it).

Gnome Duxms, Lieut. Governor. . lIIJlIEAS the General Assembly of this Island stands Pro- rogtied until Thursday, the Eighth day of June instant: l have thought lit, by and with the advice of ller Majesty’s Executive Council, further to proroguc the said General Assembly, and the same IS hereby proroguetl until ll'ednedtty the Eleventh day of July next, of which all persons concerned are required tt:

take llt lice and govern themselves accordingly.

Given under my hand and the (lrcat Seal of this Island, at Charlottetown, in the said Island, this seventh day June, iii the year of our Lord One thousand eight hundred and sixty~ live, and in the Twenty-eighth year of llcr Aloje>tys reign.

By Command,

WM. ll.

QUEEN.

l’Ol-‘E, Col. Sec’y. (:on SAW: 'riti-z

ROAD COMPENSATION ACT I’ITBLIU NOTICE. ‘VT E the undersigned Commissioners appointed by His Excellency

' the Lieutenant Governor, in Council, to examine and report. on the necessity of opening it road to the shore of lloivc Day, Lot 43, across the farms of Charles Dingtvcli and James llingwell.

Now we do hereby give public notice to. all parties, that we will Continence the execution of the said commission, by attending at the aforesaid place, on Thursday the 27th day of July next, at ll o’clock of the fore noon of the same day, and will proceed along the proposed line of road and complete the commission accurding to law, JOHN GUl‘d“,

l’h‘l‘h‘lt McCALLUM, MlCllAEL MCWADE. King’s County, 15th June, 1505.

3 Commissioners.