ROYAL GAZETTE 
     
    
   
   
    
     4705 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     m 
     
    
   
   
    
     of Ten pounds each; and whereas, it is expedient 
     
     that such Company should be incorporated : 
     
    
   
   
    
     1. Be it therefore enacted by the Lieutenant 
     
     Governor, Council and Assembly, that the said 
     
     John Andrew McDonald, James Muirhead, John 
     
     Lefurgy, Finlay McNeill, Charles Green, Thomas 
     
     Crabb, Harry Compton Green, Richard Hunt, and 
     
     all and may other person or persons, who now are 
     
     or hereafter may, from time to time, be and become 
     
     Proprietors of shares in the said Company, their 
     
     successors and assigns, shall be and they are hereby 
     
     declared to be a body politic and corporate, by the 
     
     name and style of the “ Summerside Fishing Com- 
     
     pany,” and by that name shall have succession and 
     
     a common seal, and sue and be sued, implead and 
     
     be impleaded, answer and be answered unto, defend 
     
     and be defended in any Court or Courts of Law or 
     
     Equity, or place whatsoever, and be able and 
     
     capable in Law to have, held, purchase, lease, pos- 
     
     sess and enjoy any houses, lands and tenements 
     
     whatsoever, in fee simple, leasehold or otherwise, 
     
     and also ships, vessels, (in accordance with the Acts 
     
     in force respecting the mode of holding, acquiring 
     
     and transmitting a title to the same), and any goods 
     
     or chattels, and to sell, assign, convey and transfer 
     
     the same, or any part thereof, as may be thought 
     
     necessary for the benefit ofthe Company; Provided 
     
     always, that the said Company shall not at any one 
     
     time possess lands or real estate of greater value 
     
     than one thousand pounds. - 
     
    
   
   
    
     II. It shall be lawful for the said Company to con- 
     
     struct, acquire, charter, navigate and maintain ves- 
     
     sels and boats for the purpose of carrying on the 
     
     Fisheries, or any other trade or business, with 
     
     power to sell or dispose ofthe same, or any ofthem, 
     
    
   
   
    
     or grant or consent to Bottomry or other Bonds on, 
     
    
   
   
    
     the same, or mortgage the stock of the Company, 
     
     or any part thereof, when and as they may deem 
     
     necessary, and to make contracts and agreements 
     
     with any person or Corporation whatsoever for the 
     
     purposes aforesaid, or otherwise for the benefit of the 
     
     said Company. 
     
    

    
     111. It shall be lawful for the said John Andrew 
     
     McDonald, James Muirhead, John Lefurgy, Finlay 
     
     McNeil], Charles Green, Thomas Crabb, Harry 
     
     Compton Green and Richard Hunt, immediately 
     
     after the passing of this Act, to take subscriptions 
     
     for shares in the said Company; but no person shall 
     
     be entitled to subscribe for or take in his own name 
     
     more than ten shares altogether. 
     
    
   
   
    
     IV. When one-fourth of the whole of all the said 
     
     shares or Joint Stock of the said Company, as here- 
     
     in prescribed, shall be taken up and subscribed for, 
     
     it shall and may be lawful for the said Company, by 
     
     a majority of votes at any meeting or meetings to be 
     
     thereafter held, the first ofsueh meetings to be called 
     
     by the said John Andrew McDonald, James Muir- 
     
     head, John Lefurgy, Finlay McNeill, Charles Green, 
     
     Thomas Crabb, Harry Compton Green and Richard 
     
     Hunt, or a majority of them, to appoint, by ballot, 
     
     seven Directors of the said Company, not holding 
     
     less than two shares ofthe Capital Stock, who shall 
     
     have power to elect from among themselves a Presi- 
     
     dent, and to make By-laws, Rules and Ordinances, 
     
     when deemed necessary, for prescribing the duties, 
     
     powers and authorities of the President, Directors 
     
     and ofiicers of the said Company for regulating the 
     
    
   
   
    
       
     
    
   
   
    
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     payment, transfer, registration and forfeiture of 
     
     shares; the time of meetings of the said Company, 
     
     or ot the Directors, the making ofdividends of profits, 
     
     and the keeping of the accounts, and generally for 
     
     the good order, conduct and government of the said 
     
     Company, its affairs and business, as may be requi- 
     
     site and necessary; the same By-laws, Rules and 
     
     Ordinances, before becoming of any force or effect, 
     
     to be submitted to and approved of by any meeting 
     
     ofthe shareholders of the said Company held under 
     
     this Act. 
     
    
   
   
    
     V. At any general meeting of the said Company 
     
     every Proprietor or Shareholder, having paid up and 
     
     all calls made upon him, and then due and payable 
     
     under the By-laws, Rules or Ordinances of the 
     
     Company, shall be entitled to vote according to the 
     
     number of shares held by him, that is to say, the 
     
     owner of one share shall have one vote, the owner 
     
     of five shares two votes, and the owner of ten or a 
     
     greater number of shares to have three votes and 
     
     no more, and may give such vote or votes by his or 
     
     her Proxy, duly constituted in writing, according to 
     
     this Act, or the By-laws, Rules and ordinances of 
     
     the said Company, such Proxy being himselfa share~ 
     
     holder and entitled to vote. 
     
    
   
   
    
     VI. All shares in the said Company, and in the 
     
     undertaking for which it is established, and in the 
     
     profits and advantages thereof, shall be deemed and 
     
     taken to be personal estate for all intents and 
     
     purposes whatsover, and shall be assigned and trans~ 
     
     ferable accordingly; but no share shall be divisible 
     
     or divided or assigned in parts; and the several 
     
     shareholders or subscribers to the said undertaking 
     
     respectively, and their several and respective Exe- 
     
     cutors, Administrators and Assigns, shall not, except 
     
     as hereinafter provided, be liable to any debts of or 
     
     demands against the said Company beyond the 
     
     amount oftheir several and respective subscriptions, 
     
     or the shares they may severally and respectively 
     
     hold or possess in the said Company; nor under any 
     
     calls or assessment,to be made by the said Company, 
     
     or Board of Directors, nor in anyway, nor by any 
     
     means, nor on any pretence whatsover, be liable to 
     
     the payment of any greater sum of money in the 
     
     whole than the sum often pounds, or for each several 
     
     share subscribed for or held by or standing in the 
     
    
   
   
    
     , name of such subscriber or shareholder at the time 
     
    
   
   
    
     of ordering any call or assessment; and that the 
     
     said sum of ten pounds shall include all the calls 
     
     and payments to be made on one share, and that no 
     
     greater sum than ten pounds in the whole shall be 
     
     paid on any one share in the said Company. 
     
    
   
   
    
     VII. The said Joint Stock and real and personal 
     
     estate of the said Company, shall be liable for and 
     
     subject to the payment of all debts contracted by the 
     
     said Company, and that none of the present or 
     
     future members of the said Company shall be liable 
     
     tor the payment of any debt contracted beyond the 
     
     amount of the calls and assessments due and unpaid 
     
     on the shares of the stock held by such individual 
     
     member. 
     
    
   
   
    
     VIII. Provided always, that ifthe Directors of the 
     
     said Company shall, by any contract or engagement, 
     
     incur any responsibility for any sum or sums of 
     
     money beyond the amount of the shares subscribed 
     
     for, without the sanction of the said Company first