Charlottetown, Prince Edward Island, June 28, 1865. 
     
    
   
   
    
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     JOHN INGS, QUEEN’S PRINTER. 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     1‘ 
     
    
   
   
    
       
     
    
   
   
    
     VOL. IV.-—No. 321 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     PRINCE EDWARD ISLAND. 
     
    
   
   
    
     C A P . X X I V. 
     
     An Act to incorporate the Summerside Bank. 
     
     [Passed April 3, 1865.] 
     
     ‘/ HE‘REAS it is expedient for increasing and 
     
    
   
   
    
     circulating the medium of business, and for 
     
     promoting a more extensive and beneficial employ- 
     
     ment of resources and industry of the country, that 
     
     a Bank should be established at Summerside_,lin this 
     
     Island, and whereas several persons have now asso- 
     
     ciated themselves for the purpose of forming such an 
     
     Institution, and have applied for an Act ofincorpora- 
     
     tion for the same. 
     
    
   
   
    
     LAWS OF 
     
    
   
   
    
       
     
    
   
   
    
     I. Be it therefore enacted bytlie Lieutenant Gov- 
     
     ernor,Council and Assembly, as follows_:—JamesCol- 
     
     ledge Pope, Jolin‘Andrew McDonald, Robert: T. Hol- 
     
     man, Coliii MacLennan, James Muirhead, Richard 
     
     Hunt, Dugald S. MacNutt, Finley MacNeill, William 
     
     Reairsto, Robert Mac C. Stavart, James Campbell, 
     
     \Villiam Richards, John P. MacLellan, Stephen 
     
     MacNeill, David Rogers, John I‘Iaszard, James L. 
     
     lloliiian, Charles Green, Donald H. MacDonald, 
     
     Charles Compton, John Yeo, their associates, sue- 
     
     cessors, or assigns, be, and the same are hereby 
     
     declared to be a Body Corporate by the name of 
     
     " Summerside Bank,” and that they shall be persons 
     
     able and capable in law to have, get, receive, take, 
     
     possess and enjoy, houses, lands, tenements, heredi- 
     
     taments and rents, in fee simple, or otherwise, and 
     
     also, goods and chattels, and all other things real, 
     
     personal or mixed; and, also, to give, grant, let or as- 
     
     sign the same, or any part thereof, and to do and 
     
     exoeute all other things,iii and about the same,as they 
     
     shall think necessary, for the benefit of the said Cor- 
     
     poration; and, also, that they be persons able in law 
     
     and capable to sue and be sued. plead and be im- 
     
     ileaded, answer and be answered unto, det'end and 
     
     be defended in any Couits of Law and Equity, or 
     
     any other places, whatsoever, in all and all manner 
     
     of actions, suits, complaints, demands, pleas, causes 
     
     and matters, whatsoever, in as tall and ample a 
     
     maiine ' as any other person, or persons are in law, 
     
     capable of sueing and being sued, pleading and being 
     
     iinpleaded, answering and of being answered unto; 
     
     and also, that they shall have one common seal to 
     
     serve for the cnsealing all and singular, their grants. 
     
    
   
   
    
     deeds, conveyances, contracts, bonds, articles of 
     
    
   
   
    
     agreement, assignments, powers and warrants of at- 
     
    
   
   
    
     torney; and all and singular their affairs and things 
     
     touching and concerning the said Corporation; and, 
     
     also, that they, the said President, Directors and 
     
     Company, or the major part of them, shall, from 
     
     time to time, and at all times, have full power, 
     
     authority and license to constitute, ordain, make and 
     
     establish such laws and ordinances, as may be 
     
     thought necessary, forthe good rule and government 
     
     of the said Corporation. Provided that such laws 
     
     .and ordinances be not contradictory or repugnant to 
     
     the laws and statutes of that part of the United 
     
     Kingdom of Great Britain and ireland, called Eng- 
     
     land, or repugnant, or contrary to the laws or 
     
     statutes ofthis Island. 
     
    
   
   
    
     II. The Capital stock of'the said Corporation shall 
     
     consist ofcurrent gold and silver coins ofthis Island, 
     
     to the amount offitteen thousand pounds, the sum of 
     
     five thousand pounds, one third part thereof, to be 
     
     paid in current gold and silver coins ot‘tliis Island, 
     
     within one year, from the passing ofthis Act; and a 
     
     further sum offive thousand pounds, within two years 
     
     from the passing of this Act; and the remaining five 
     
     thousand pounds, within three years, from the pass~ 
     
     ing of this Act, the whole amount of‘ the said stock 
     
     to be divided into shares offlve pounds each, making 
     
     in the whole, three thousand shares. 
     
    
   
   
    
     ill. It shall be lawful f'ortlie said Corporation ot'tlie 
     
     Summerside Bank to accept and take any lands, 
     
     houses, or other real, or personal estate, in satisfac- 
     
     tion, liquidation, or payment of any debt absolutely 
     
     and bonajide previously due to the said Corporation, 
     
     and to take any mortgage,judginent, or any other 
     
     like charge, as a security for any moneys so previ- 
     
     ously due, as aforesaid, to the said Corporation, or 
     
     for which parties may have rendered themselves 
     
     liable to the said Corporation, and to hold such 
     
     lands, or other property, or security thereon, for 
     
     such reasonable time, only, after the said Corpora- 
     
     tion shall have acquired an absolute estate therein 
     
     as shall be necessary t'orselling and disposing of and 
     
     converting the same into money. 
     
    
   
   
    
     IV. Whenever six hundred shares of the said 
     
     capital stock shall have been subscribed, a‘geiieral 
     
     meeting ot'tlie members and stockholders ot the said 
     
     Corporation, or the anOl‘ part at them, shall take 
     
     place, by notice, in the Royal (Risotto newspaper, 
     
     fourteen days previous to such meeting, for the pur- 
     
    
   
   
    
       
     
    
   
   
    
     pose of making, ordaiiiiiig and establishng such; 
     
     by-laws, ordinances and regulations for the gooe