BE it enacted by the Lieutenant Governor, Legislative
Council, and Assembly, as follows: -

    1. That Levi W. Young, George S. Grimmer, Robert
Ross, Thomas T. Odell, Harris H. Hatch, and their associates,
successors, and assigns, are hereby constituted a body politic
and corporate, by the name of “The Digdeguash Red Granite
Company,” for the purpose and with the power of purchas-
ing, holding, leasing and selling lands and mineral rights,
and for quarrying, manufacturing, polishing, buying and
selling Red and other Granite, and all kinds of stone and
minerals, in the County of Charlotte, and purchasing, holding,
using, leasing, selling and conveying real estate, machinery,
vessels, vehicles, and any and all other kinds of property
required in about the purposes aforesaid, and in and about
the transportation, by land or water, of such granite or
minerals, or the quarrying, polishing, storing, or shipping
thereof, and with the further full power of doing all other
things which the said Company may deem essential or con-
ducive to or for any of the purposes aforesaid ; and the said
Company shall have all other the powers, rights and privileges
made incident to a Corporation by any Act of Assembly in
this Province.

    2. The capital stock of the said Company shall be fifty
thousand 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 in-
crease their capital stock to any sum not exceeding five hun-
dred 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, in such sums as the Directors may deem
best, and such stock shall be considered fully paid up as if
paid in money ; the Company may also issue bonds, bearing
interest, in such form, and for such amounts, and payable 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 Lower Digdeguash, or such other place
as may be deemed expedient by the Company, who shall
have an agent at the said place for the transaction of business
connected with the Company, service on whom of all pro-
cesses, notices and other documents shall be deemed sufficient
service upon the said Company ; the Board of Directors shall
consist of not less than three nor more than five, as may be
determined by the bye laws of the Company, and may be
chosen annually, and 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 Directors.

    4. 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 County of Charlotte, requir-
ing payment of the same within thirty days, and if any stock-
holder shall refuse or neglect to pay the amount of such call
or demand upon his shares at the time prescribed, he may
either be sued by the said Company for the same in any
competent Court, or the Treasurer may proceed by order of
the Directors to advertise all such delinquent shares for sale
at public auction, giving at least thirty days’ notice of the
time and place of sale, and all such shares upon which such
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 advertising and selling, the residue,
if any, shall be paid over to the former owner, and a certifi-
cate or certificates of the shares so sold shall be made out
and delivered to the purchaser or purchasers thereof.

    5. No member or stockholder of the Company shall be
liable in his person or separate estate for any debt or obli-
gation 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.

    6. The said Company may when required make or con-
struct a railway or tramway over and across any lands, private
or public, or across any roads in the way of such projected
railway or tramway, and over any brooks, streams or rivers
on public lands, subject nevertheless, in case of private lands,
to such damages to be paid by the said Company as may be
awarded for the same, to be ascertained as provided in and
by the seventh Section of thirty sixth Victoria, Chapter
ninety three, which said Section, for the purpose of ascer-
taining such damages and obtaining conveyance of such pri-
vate lands, shall be and is hereby made a part of this Act ;
and subject also, in case of public lands, to such regulations
to be made by the Court of Sessions or Municipal Corpora-
tion of the County for the time being, for the protection and
safety of the inhabitants and their property, and the preser-
vation of public and private rights.

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