ROYAL 
     
    
   
   
    
       
     
    
   
   
    
     GAZETTE 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     Charlottetown, Prince Edward Island, June 27, 1866. 
     
    
   
   
    
       
     
    
   
   
    
     JOIIN INGS, QUEEN’S PRINTER. 
     
    
   
   
    
       
     
    
   
   
    
     5‘ 
     
    
   
   
    
     VOL. VlII.—No. 374 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     LAWS OF PRINCE EDWARD ISLAND. 
     
     w“ . CAP. XXIV. 
     
    
   
   
    
     An Act to Incorporate the Souris Bank. 
     
     [Passed May 11, 1866.] 
     
    
   
   
    
       
     
    
   
   
    
     ——_a 
     
    
   
   
    
     V HEREAS 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 Souris in this Island; 
     
     and whereas several persons have now associated 
     
     themselves for the purpose of forming such an Insti- 
     
     tution, and have applied for an Act of Incorporation 
     
     for the same : 
     
    
   
   
    
     I. Be it therefore enacted by the Lieutenant Gov- 
     
     ernor, Council and Assembly as follows: William 
     
     Stainforth MacGowan, John Knight, Michael Mac- 
     
     VVade, Edward Kickham, Alexander Fraser, John 
     
     MacIsaac, James C. Morrow, Ephraim Bell Muttart, 
     
     John MacGowan, Michael MacCormack, Joseph 
     
     MacVane, Ronald MacDonald, John Beaten, James 
     
     Beaten, the elder, James Beaten, the younger, 
     
     Alexander Beaten, James McLean, Donald Stewart, 
     
     James A. Davidson, and their associates, successors 
     
     or assigns, be, and the same are hereby declared to 
     
     he a Body Corporate, by the name of “~Souris 
     
     Bank,” and that they shall be persons able and 
     
     capable in law to have, got, receive, take, possess 
     
     and enjoy houses, lands, tenements, hereditaments 
     
     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 assign the same, 
     
     or any part thereof, and to do and execute all other 
     
     things in and about the same as they shall think 
     
     necessary for the benefit of the said Corporation; 
     
     and also that they be persons able in law and capable 
     
     to sue and be sued, plead and be impleaded, answer 
     
     and be answered unto, defend and be defended in 
     
     any Courts 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 full and ample a manner as any 
     
     other person or persons are, in law, capable effuing 
     
     and being sued, pleading and being impleade , an- 
     
     swering and of being answered unto; and, also, that 
     
     they shall have one common seal to serve for the en- 
     
     sealing all and singular, their grants, deeds, con- 
     
     veyances, contracts, bonds, articles of agreement, 
     
     assignments, powers and warrants of attorney; 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 for the 
     
     good rule and government of the said Corporation : 
     
     Provided that such laws and ordinances be not con- 
     
     tradictory or repugnant to the laws and statutes of 
     
     that part of the United Kingdom of Great Britain 
     
     and Ireland, called England, or repugnant, or con- 
     
     trary to the laws or statutes ofthis Island. 
     
    
   
   
    
     II. The Capital Stock or the said Corporation 
     
     shall consist of current gold and silver coins of this 
     
     Island, to the amount of three thousand pounds, the 
     
     sum of one thousand pounds, one third part thereof, 
     
     to be paid in current gold and silver coins of this 
     
     Island, within one year, from the passing of this 
     
     Act; and a further sum of one thousand pounds, 
     
     within two years from the passing of this Act; and 
     
     the remaining one thousand pounds, within three 
     
     years from the passing ofthis Act, the whole amount 
     
     of the said stock to be divided into shares of five 
     
     pounds each, making in the whole six hundred 
     
     shares. 
     
    
   
   
    
     I“. It shall be lawful for the said Corporation of 
     
     the Souris 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 bona fide previously due to the said Corporation, 
     
     and to take any mortgage, judgment, or any other 
     
     like charge, as a security for» any moneys so pre— 
     
     viously 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 for selling and disposing of 
     
     and converting the same into money. 
     
    
   
   
    
     IV. Whenever one hundred and twenty shares of 
     
     the said capital stock shall have been subscribed, a 
     
     general meeting ofthe members and stockholders of 
     
     the said Corporation, or the major part of them, 
     
     shall take place, by notice, in the Royal Gazette. 
     
     newspaper, fourteen days previous to such meeting, 
     
     for the purpose of making, ordaining and establish- 
     
     ing such bye-laws, ordinances and regulations for 
     
     the good management of the affairs ot the said Cor—