1. That Arthur Hill Gillmor, Senior, Francis Hibbard,
M. P. P., Tobias S. Gillmor, Kinsman P. Gillmor, Eldorado
Gillmor, Robert A. Stuart, James O'Brien, Thomas More-
land, Samuel Johnson, Charles M’Gee, Henry A. Smith,
James E. Lynott, Edwin R. O'Brien, Daniel Gillmor, their
associates, successors, and assigns, are hereby constituted a
body politic and corporate by the name of "The Victoria
Red Granite Company of Saint George," for the purpose
and with the power of purchasing, holding, leasing and sell-
ing granted lands and mineral rights, and for quarrying and
manufacturing red granite and all kinds of stone and mine-
rals in the County of Charlotte, and purchasing, holding,
using, selling and conveying real estate, machinery, vessels,
vehicles, and any other property required for constructing,
holding and operating roads, railroads, and tramways, for
the transportation of red granite, and other substances and
supplies, to and from the quarries and works, and using the
same for the purposes aforesaid, and all other purposes for
which roads, railroads and tramways may be used, and of
acquiring, purchasing, constructing, hiring or holding such
wharves, water lots, docks, and piers, as may be deemed ne-
cessary or proper for the working of their quarries, the stor-,
ing and shipment of stone and other substances, or for the
protection and safety of shipping, and constructing and hold-
ing dwellings, and other works and buildings, for the em-
ployees of the Company, and of doing all other things which
the Company may deem essential or conducive to the fore-
going purposes, or any of them ; and the said Company shall
have all other the powers, rights and privileges made incident
to a Corporation by any Act of Assembly of this Province.

    2. The capital stock of the Company shall be fifty thou-
sand dollars, in shares of not less than one hundred dollars
each, which shall be personal property, transferable and
assignable as such by assignment recorded in the books of
the Company ; and the Company shall have power to increase
their capital stock to any sum not exceeding five hundred
thousand dollars, by the issue of new shares, on a vote of a
majority in interest of the stockholders ; the Company may
issue stock in payment for lands, mineral rights, or other
property or purposes, on such terms as the Directors may
deem best, and such stock shall be considered full paid up
as if paid for in money ; the Company may also issue bonds,
bearing interest, in such form and for such amounts, and pay-
able at such times and places as the Directors from time to
time may appoint and direct, and the same shall be signed
by the President, and shall have the corporate seal attached
or affixed thereto, provided that such bonds shall not exceed
two thirds of the amount of the paid up capital of the Com-
pany, and the said bonds shall form a first charge on the
lands, property, stock and franchises of the said Company.

    3. The office for conducting the general affairs of the
Company shall be at Saint George, or such other place as
may be deemed expedient by the Company ; the Board of
Directors shall consist of not less than five nor more than
seven, as may be determined by the bye laws of the Com-
pany, and they shall be chosen annually ; but should the
Company fail to elect Directors on the day appointed, those
previously elected shall continue in office until successors
are chosen, and accept office in their stead ; any vacancy in
the Board of Directors caused by death, resignation, or other-
wise, may be filled for the residue of the term by appoint-
ment made by the remaining members of the Board.

    4. The Company shall keep an office in this Province, in
the Parish of Saint George in the County of Charlotte, and
an agent there for the transaction of business connected with
the Company, service on whom of all processes, notices, and
other documents, shall be deemed sufficient service upon the
said Company.

    5. The said Company shall have power to levy and collect
calls upon the shares from time to time of such sums of
money as may be deemed necessary for carrying on the busi-
ness of the said Company, in all not exceeding the nominal
value of the shares ; and whenever any call shall be made
by the stockholders or Directors of the said Company, it
shall be the duty of the Treasurer to give notice thereof in
one or more newspapers printed in the City of Saint John
or County of Charlotte, requiring payment of the same within
thirty days ; and if any stockholder shall refuse or neglect to
pay the amount of such call upon his shares at the time pre-
scribed, he may either be sued for the same in any compe-
tent Court, or the Treasurer may proceed to advertise all
such delinquent shares for sale at public auction, giving at
least thirty days' notice of the time and place of such sale ;
and all shares upon which the call is not then paid, with
interest from the time such call became due, shall be sold to
the highest bidder ; and after retaining the amount of such
call, and interest due on each share, and the expense of ad-
vertising and selling, the residue (if any) shall be paid over
to the former owner, and a new certificate or certificates of
the shares so sold shall be made out and delivered to the
purchaser or purchasers thereof.

    6. No member or stockholder of the Company shall be
liable in his person or separate estate for any debt or obliga-
tion of the Company, or for any further greater or other sum
than such as may remain unpaid on the shares taken or held
by him, unless he shall have rendered himself so liable by
becoming surety for any such debt or obligation ; but no
stockholder who may have transferred his interest in any
share or shares taken or held by him shall by such transfer
cease to be liable for or upon any debt, obligation or contract
incurred or made prior to the date of such transfer, to the
extent of any amount remaining unpaid on such share or
shares, provided that any action or suit in respect of such
liability shall be taken and commenced within six months
from the date of such transfer.

    7. Whenever, for the purposes of the said Company, lands
or rights of way contiguous to the quarries or other property
of the Company, may be requisite for the laying, constructing
or erection of any road, railroad, or tramway, or of any build-
ing, wharf, dock, or other place for storing or shipping the
stone or other minerals dug, quarried or manufactured by
the Company, and no agreement for the purchase of such
lands or right of way can be made with the owner or owners
thereof, the said Company or the Directors thereof may
apply to a Judge of the Supreme Court by petition, with a
correct plan of the premises in question thereto annexed, on
oath, praying a conveyance of such lands or right of way ;
and such petition shall set forth by metes and bounds the
nature, situation and quantity of the lands or rights of way
required, the names of the owners or occupiers thereof, and
any further particulars which the case may require ; where-
upon if the Judge be satisfied that such lands or rights of
way, or any part thereof, are actually required for carrying
out the purposes and operations of the said Company, he
shall appoint a time and place for the consideration of such
petition, and direct notice of the object of such application
to be given to the owners or occupiers of such lands, either
if practicable by personal service, or if not, by publication
thereof for at least two weeks in a newspaper published at
the City of Saint John, or one published in the County of
Charlotte, requiring them to attend at the time and place
appointed, to shew cause why an order for such conveyance
should not be made ; and at such time and place the Judge
may either proceed at once to order the parties interested
to make all necessary conveyances upon such terms as he
may see fit to order and direct, or if he deem it necessary, to
order that the lands or rights of way so required be examined
and surveyed by appraisers to be by him appointed, of whom
one appraiser shall be named by the petitioners, one by the
respondents, and a third by the Judge, or if the respondents
do not appear, two of such appraisers shall be named by the
Judge, due proof being furnished to him of the due service
or publication of said notice ; the appraisers so appointed
shall forthwith proceed to examine and value the lands or
rights of way so required, to ascertain the necessity for them,
and the quantity of land required, and in their valuation
they shall not take into account the enhanced value of any
such lands and premises by reason of the operations of the
said Company, or of any discovery by them upon their own
lands, of minerals, ores or other metallic substances, or any
further works or operations by them contemplated ; and the
valuation of such appraisers, or any two of them, shall be
returned in writing and upon oath to such Judge as soon as
may be ; whereupon the said Judge shall fix a time and place
for hearing such award or valuation, of which all parties
shall have due notice, either by their attorney or as aforesaid ;
and at the return of such notice, and upon hearing all parties
interested, the said Judge shall have power to alter, modify,
approve or reject such valuation ; and in case of rejecting
the same, shall proceed as before to the appointment of other
appraisers, and so on as often as the case may happen ; if
the valuation be approved or modified, the Judge may make
such order in the premises, as to the payment of costs and
awards, and the mode of conveyance of such lands or rights
of way, as he may deem expedient, and any conveyance made
under such order shall be registered in the County in which
the premises conveyed shall be, and have the same operation
and effect as if made by the owner or owners of the fee to
the said Company.

    8. The said Company may, when required, make or con-
struct a railway or tramway over and across any roads in the
line of the projected railroad or tramway, and over any
brooks, streams or rivers on public lands, subject neverthe-
less to regulations to be made by the Court of Sessions or
Municipal Corporation of the County for the protection and
safety of the inhabitants and their property, and the preser-
vation of public and private rights ; and may build, erect
and make harbours, piers, breakwaters, and shipping places
for granite or other productions of the said Company, upon
any land owned or lawfully held by the Company, or acquired
under this Act, or upon the shores of the harbour or other
lands of the Crown, above or below low water mark, license
therefor having been first duly applied for and obtained from
the Governor General of Canada, or the Lieutenant Governor
of New Brunswick in Council, as requisite.

    9. All property and shares of the said Company shall be
exempt from taxation of any kind for the period of three
years from the commencement of operations under this Act.