w v: IMAGE EVALUATION TEST TARGET (MT-3) 11.25 ■ 50 "™^™ 2.5 S "^ ills - i;£ III 20 \A. III! 1.6 Photographic Sciences Corporation h A .-» T t F l . I r . , > I I V , , . V f T f f T M H » M . i f, f V , I H M I I I .1 > f » T y? \., m .1 e > PLAN O/' rUF. INDIAN RRSEHYR on tAtt, litlatui or- iJLj?!l Shmuuf //u- Oil Hmsllurem SAULT kr. MARit Scalr 6 Milt^ Utl Inrh I 105 76 PLAN or lake: — ROUTES 8- I » >- & %p .;«■ BUFFALO ^^^■^ • • ^^^^^^^^^K-*' ^^^^^^^^^H '"* • ^^^^^^^K, ' « ^^^^^^^^H.,' ^^■r ^^^^^^^^^H.1 ^^^^^^^^^^^B } ^^^^^^^^^^^Hk* ' ^^^^^^^^^^K' ' ^^^^^^^^^^Kd^'Y, ^^^^^^^^^^^^■^^ HHB^I^B ''''\ : (^ItEAT MANITOULIN OIL COMPANY. CAPITAL saoo.ooo. SHARES 410.00 EACH. ■ St. Louis, 3Io. ^^— iMana,cr Ontari. Ban,), Mos.n..., C.E. '~^^^^^^'' • • • • Montreal, C.E. QirEHEC, C.E. w »r iirqfors. C"A.s. E. Panet . • • • . 3I0NTREAL, C. E. t^ J- H. R. Burroughs QriBBEc, C. E. W. L. Baby ' " Quebec, C. E. J- R. Beutiielet Sandwich, C. W. H. Berthelet .... Milwaukee. Wis. Chas. p. Thebo Milwaukee, Wis. "^ ^ -r^/f rf>t-^jt_ ' [ Milwaukee, Wis. T ">s 1"1!0\-IXCE OF CANADA, '^ VICTORIA by the Grace of God, of the United Kingdom To all to whom these presents shall come. CrREETINO : WHMEAS undorand by a„ Act of our rarlia„,.„t intitulod • " All Anf fl lu "'^^^ >^^^^« «^ ^ur reign, and iiKiy constitute such persons and others wh^ ^ become shareholders in anv ™„l. „ ""^ ""^o "ay corporate and politic for a^ of th» '"'""''' ° '""'>' mentioned, ^ ** P^'Po^es therein day of Tprll i ,?h'" '" f°""f • '"'"™ff date the first h»dr' d i",;'d" i i;:: : ™ ^-^ »- 'ho„sa„d ci,ht lelet, 01 the C.ty ,j| ll,lvva„l„e, in the Slate of Wiscon- 1 sin one of the said United States of America, Esquire; on; Wilmot AVilliams, of the City of New York m the State of New York, one of the said ^J"^t«dJ.tates ol America, Esqnire ; one Lyman A\ ashbnrn Cn bert, oi the said City of New York, Attorney and Counsellor at Law , u d one Philip Baby Casgrain, of the City of Quebec, m our sa d Prov nee. Advocate-have prayed that a charter onncrpo:ation,embodyingandsettingforthth^ provisions of the above in part recited Act, may be o-ranted to them and to such other persons as are or may ec:mLhareholdersinaCompanvformedfor^Vepiu^^^^^^ of boring for, opening and using Petroleum, bait and other mineral springs. ind whereas, in accordance with the pro.^sions of the above in part recited Act, notice was pubhshed in the Canada Ga^etU for at least one month, previous to the presentation of the petition horeinl>eiore mentioned in which notice it was stated that the said Anthony LaGrave, the said AVilUam Louis Baby, the said Joseph Kolette Berthelet, the said Wilmot ^^1^;-^- " Lvman Washburn (lilbert,, and the said Phihp Baby Cas.vrain, being not less than five of the Applicants who have petitioned as aforesaid, intended to apply ior such charter; that the proposed corporate name oi the Com- pany is " The Great Maiiitoulin Oil Company ;" that the object or purpose for which Incorporation is sought is to bore for, open and use Petroleum, bait, or other mineral springs. That the places where the operations of the Com pany are to be carried on, are the Manitoulin Island m Lake Huron, and elsewhere, in our said Provmce; that the amount of the nominal capital of the Company is three hundred thousand dollars ; that the number oi shares is thirty thousand, and the amount oi each share is ten dollars; that the amount of the stock subscribed ca, Esqviire ; fork, 111 the )d States of ilbert, of the ellor at Law, f Quebec, in hat a charter ti the general A.ct, may be IS are or may r+Ve purpose am, Salt and le provisions ; pviblished iii 1, previous to re mentioned, said Anthony e said Joseph ams, the said Philip Baby pplicants who pply for such e of the Com- any ; corporation is oleum. Salt, or IS of the Com- vilin Island in proA'ince; that LC Company is the number of t of each share ock subscribed have complied with all f hi, "'""^ Applicants under the authority of the Win C" ^''^^"' ^""^ «-ery «,cl> other person o^pt^.T "'"^ "" ""'' shall at any time hereatt,., 1 '"^^ " "' '"■« »■■ -id compauy,u„a::rh p;ri"r„nr°"r: ■" ""• the by-laws made under the. ,„?.., '""' ^'='' •■""" ^«eoe.„r, a body cotral^a d'^^itr-r'^'I'l ™cce..„,, .„a , eo„™ou seal by the llreV P°"""' " ^''o tf^"' Manitonlin Oil Company " and capable forthwith of ey .■hm„ ,„ „ , ' ,. an Incorporated Comnanv« if, ° '""et.ons of Act of riliamonr. d bv'tt ""="''l»''""'d hy a Special and bein^ ™id pWin , ",'' r'"""''' "™'">f ™h,iv court, wh'ether of it "?,:;;' '™« ""^'^^^^'^ "' »" and nltt'Xnn'y,';^ ^^JP^'-^^Y *,o bore, or, open the said the Com mn v I, t """"''' '^''''S"- A"d -.bJecttotlu...er ; Lt r'^>' "■o».-porated, shall be -id recited ActJirat ifto s" '""^ "' '■™"' "' *« a Bo.n:7 o!-° ,:f ts °'if'^r'""'"'"" ^'^"'"'»S«1 "^v Directors. ' "'™ ""■•"=• '«"■ """-e than nine k o—The said Anthony LaGrave, the said William Louis'^Baby, the said Joseph Kolette Berthelet the said Wilmot Williams, the said Lyman Washburn Cnlbert, and the said Philip Baby Casgrain, -shall be the Directors ot the Company, until replaced by others dul.' chosen in their stead. 3 __No person shall be elected or chosen as a Director thereafter, unless he is a shareholder, owning stock abso- lutely in his own right, and not in arrear m respect ot any call thereon. 4— The alter Directors oi" the Company shall be elected by the shareholders, in general meeting of the Company assembled, at such times, in such wise, and lor such term, as the by-laws of the Company may prescribe. 5.— In default only of other express provisions in sucL behalf, by the by-laws of the Company, (a) —Such election shall take place yearly, all the Members of the Board retiring, and (if other wise qualihed) beiii"- eligible for reelection. °(b) —Notice of the time and place for holding gene- ral meetings of the Company shall be given at Jeast ten davs previously thereto, in some newspaper pubhshed at or as near as may be to the office or chief place of busi- ness of the Company. (c).— At all general meetings of the Company, every shareholder shalfbe entitled to as many votes as he owns shares in the Company, and may vote by proxy (d) —Elections of Directors shall be by ballot; (e).-Vacancies occurring in the Board of Directors xnav be iilled for the unexpired remainder of the term^ ]>y the Board from among the qualified Shareholders ot the Company ; „ . ^ ,- i„„+ (f ) —The Directors shall from time to hme elect from among themselves a President of the Company ; e said William helet, the said rn Crilbert, and he Directors of ul ' chosen in en as a Director ling stock abso- r in respect of mpany shall be meeting of the ch wise, and for T may prescribe. ;s provisions in any, 3 yearly, all the srwise qualified) or holding gene- iven at least ten iper published at ef place of busi- Company, every votes as he owns )y proxy. le by ballot ; ;oard of Directors tider of the term L Shareholders of me to time elect jf the tJompany ; stock and o?f] ""^^-P/^y^^^"^' "^^ l«"™-' <"■ -"« 'h«-eono. 14.— No shareholder beinr. m any call .shall be eutitlerl fn x^f ! ^"'"" '" '*'"i'^''^ ^^' arrear in respect of C ompany. 15. — The Directors of ihi^ CoiTniiiinr if +u at any ti.ne alte. the whole ct >itauSV h^cC™ fv m, ki. a by-law lor uicreosing the capital ,tock of the Company to any amount which they mav co-^iid.. 10 shareholders, at a general meeting of the Company, duly called lor the purpose of considering- such by-law nor un^l a copy thereof duly authenticated shall Lave C lied as hereinalter mentioned with the Provincial Secre^ iirLr "" ''''"■ ''''" "*'^ ^°^'"-^^"^- "^ ^'---j 4 . .,J?r'^''y ^y-^^^ i'"^'' i^^^^'^'^^ing the capital stock the L C^' '^'^^ ^'^^""^ '^^^^ "^"^^^^^- -^^ value of the shares o the new stock; and may prescribe the man- ner m which the same shall be allotted ; and in deGt oi Its so donxg. the control of such allotment shall be hl/d to vest absolutely in the Directors. dnlv ^ V^!"" ^T^'""^ "''">'' '^'^^^"^ «^^ ^««^^ths after a duly authenticated copy of such By-Law has been tiled with the Provincial Secretary, or such other officer as the Governor in Council may have named lor the pur- pose require and cause a notice under the siga.ature of pasl^l Ld fil T" ."""'; '^'' ''''^' ^>'-^^^' has been amount ott 1 " T""^' and stating the number and rbscdbe 1 fT""^ '''''' ''''^'' '^'' ^^"^«^"^t actually s bsuibed and the amount paid in in respect thereof and Irom the date of such notice the capital stock of the Company shall be and remain increased, to the amount in the manner and subject to the conditions set forth by «uch By-Law; and the new stock shall become suic' to all the provmons of law in like manner (so far a ml be), as though the same had formed part of the st^ck of the Company originally subscribed. be kenfr^l!'"..^''"'?"''^ '^'^^ '"^^^^ ^ ^^^^ «^ books to be kept by the Secretary, or by some other officer specially charged with that duty, wherein shall be kept recorded-^ l6t.-A correct copy of the Letters Patent incor- «^m»m»^i -i-mrnvf-' fipany, duly by-law, nor have been iicial Secri-- 'ouucil may pital stock id A-alue of e the man- in delimit ■all be held ths after a been iiled officer as r the pur- .iiature of I', to be in- ■ has been mber and t actually t thereoi", >ck ol' the ; amount, forth by 3 subject ir as may stock of books to specially corded — it incor- 11 t^hTeor *^' ^'^'^P^"^^' ^' ^^''' ^^■'^'^y '-^^id every By-Law 2nd.-The names, alphaboticallv arrano-ed of all persons who are or have been Shareholders ; 3rd.-The address and callin- of every such per- son, while such Shareholder ; ^ SharehlldTr^'^ ™'" °'''""" ^^'^^^^ ""^'^ ^^ ^^^ 5th.--The amounts paid in, and remaining unpaid respectively, on the stock of each Shareholder f ' 6th.-All transfers of stock, in their order as pre- sen ed to the Company for entry, with the date Tnd other particulars of each transfer, and the date of the entry thereof; and 7th.— The names, addresses and calling, of all per- sons who are or have been Directors of the Companv • vvith the several dates at which each became or ceased to be such Director. 19.-The Directors may refuse to allow the entrv into any such book of any transfer of stock, whereof the whole amount has not been paid in ; and no transfer made with the view of relieving the transferor Trom pre-existing debts of the Company, shall be valid o^ prevent any antecedent creditor from exercising his remtedy against such transferor, in the same way as if he had continued to be aShareholder in such Companv • provided that nothing in this sub-section shall prevent the eflect of chapter seventy of the Consolidated Statutes * ot Canada, as regards any such stock seized and sold in execution. 2O.-N0 transfer of stock shall be valid for any pur- pose whatever, save only as exhibiting the rights of the par- ties thereto towards each other, and as rendering Te tiansferee liable ad interim jointly and severally with 12 the transferor, to the Company and their creditors, — until entry thereof has been duly made in such book- or books. 21. — Such books shall, during' reasonable biisiness hours of every day, except Sundays and obligatory holi- days (fetes (rohligution), be kept open for the inspection of Shareholders and Creditors of the Company, and their personal representatives, at the office or chief place of business of the Company ; and every such Shareholder, Creditor or representative may make extracts therefrom. 22. — Such books shall be prima facie evidence of all facts purporting to be thereby stated, in any suit or i)ro- ceeding against the Company, or again.st any Share- holder. 23. — Every Director, Officer or Servant of the Company, who knowingly makes or assists to make any untrue entry in any such book, or who reiuses or neglects to make any proper entry therein, or to exhibit the same, or to allow the same to be inspected, and extracts to be taken tl'^^refrom, shall be liable to a penalty not exceed- ing twenty dollars, for making each such untrue entry, and for each such refvisal or neglect, and also for all loss or damage which any party interested may have sus- tained thereby. 24. — The Company shall not be bound to see to the execution of any trust, whether expressed, implied or constructiA'e, in respect of any shares ; and the receipt of the Shareholder in whose name the same may stand in the l>ooks of the Company, shall be a valid and bind- ing discharge to the Company for any dividend or money payable in respect of such shares, and whether or not notice of such trust shall have been given to the Com- pany ; and the Company shall not be bound to see to the application of the money paid upon such receipt. ^|^»»f;««*«5»":S 13 creditors, — ich book' or le biisincss "•atory holi- inspoctiou mpany, and ' chiol' place hareholder, s therefrom. deuce ol" all suit or i)ro- auy Share- aut of tlie make auy i or neii'lects it the same, tracts to be lot exceed- itrue entry, ) for all loss ' have sus- d to see to >ed, implied I the receipt ! may stand 1 and bind- id or money ther or not ;o the C om- ul to see to receipt. 2.5.— Every contract, agreement, eno-ao-ement or bargain made, and every bill of exchanoe drawn 'ac- cepted or endorsed, and every promissory note 'and cheque made, drawn or endorsed on behalf of the Com- pany, by any agent, officer or servant of the Company m general accordance with his powers as such, under the by-laws of the Company, shall be bhiding upon the Company ; and in no case shall it be necessary to have the seal of the Company affixed to any such contract, agree- ment, engagement, bargain, bill of exchange, promis'sory note or cheque, or to prove that the same was made, drawn, accepted or endorsed, as the case may be, in pursuance of any by-law, or special vote or order ; nor shall the party so acting as agent, officer or servant of the Company, be thereby subjected individuallv to any liability whatsoever to any third party thereibr ; pro- vided always that nothing in this section shall be con- strued to authorize the Company to issue any note payable to the bearer thereof, or any promissory Aote in- tended to be circulated as money, or'as the note of a bank. 26.— Each Shareholder, until the whole amount of his stock has been paid up, shall be individually liable to the Creditors of the Company, to an amoun't equal to that not paid up thereon, but shall not be liable to an action therefor by any Creditor, before an execution against the Company has been returned unsatislied in whole or in part; and the amount due on such execution shall be the amount recoverable, with costs, against such Shareholders. 27.— The Shareholders of the Company sliall not as such be held responsible for any act, default or liability whatsoever, of the Company, or for any ein.-agement, claim, payment, loss, injury, transaction, matter or thing whatsoever, relating to or connected with the Companv beyond thi' amount of their respective shares in the' capital stock thereof. 14 28. — No person holding- stock in the Company as an executor, administrator, tntor, curator, guardian or trustee, shall be personally subject to liability as a Share- holder, but the estates and funds in the hands of such person, shall be liable in like manner, and to the same extent, as the testator or intestate, or the minor, ward or interdicted person, or the person interested in such trust fund, would be, if living and competent to act, and hold- ing such stock in his own name ; and no person holding such stock as collateral security, shall be personally sub- ject to such liability, biit the person pledging such stock shall be considered as holding the same, and shall be liable as a Shareholder accordingly. 29. — Every such executor, administrator, tutor, curator, guardian or trustee, shall represent the stock in his hands, at all meetings of the Company, and may vote accordingly as a Shareholder ; and every pt ••?• jn who pledges his stock may nevertheless represent the same at all such meetings, and may vote accordingly as a share- holder. y 30. — If the Directors of the Company declare and pay any dividend when the Company is insolvent, or any dividend the payment of which renders the Com- pany insolvent, or diminishes the capital stock thereof, they shall be jointly and severally liable, as well to the Company as to the individual Shareholders and Creditors thereof, for all the debts of the Company then existing, and for all thereafter contracted dxiring their continuance in oflice, respectively ; but if any Director present, when such dividend is declared, do forthwith, or if any Direc- tor then absent do, within twenty-four hoiirs after he shall have become aware thereof, and able so to do, enter on the minutes of the Board of Directors, his protest against the same, and do within eight days thereafter l)ublish such protest in at least one new^spaper, published J'fflpptSHW****^^^ ompany as uardian or ■ as a Share- ds of such > the same DV, ward or I such trust t, and hold- on holding onally sub- such stock d shall be itor, tutor, lie stock in i may vote c :■>'• JU who the same at as a share- leclare and solvent, or 3 the Com- ck thereof, well to the d Creditors n existing-, ^ntinuance sent, when any Direc- rs after he to do, enter tiis protest thereafter , published 15 at or as near as may be possible to the ollice or chief place of business of the Company, such ]Jirector may thereby, and not otherwise, exonerate himself from such liability! 31.— No loan shall be made by the Company to any fcihareholder, and if such be made, all Directors and other officers of the Company making the same, or in any wise assenting thereto, shall be jointly and severally liable to the Company for the amount of such lo >n,— and also to third parties, to the extent of suchloan wahle"al interest,-for all debts of the Company (•ontracted from the time of the making of such loan, to that of the re- payment thereof. 32.— Any description of arition may be prosecuted and maintained between the Company 'and any .Share holders thereof, and no Shareholder, not being himself a party to such suit, shall be incompetent as a witness therein. 33.— The Charter of the Company shall be forfeited by non-user during three consecutive years, at any one time, or li the Company do not go into actual operation within three years after it is granted ; and no declaration ot such iorleiture by any act of the Legislature shall be deemed an infringement of such Charter. By Command, (Signed,) E. PAREUR, Assistant Secretnry. In Testimony whereof, we have caused these our Letters to be made Patent, and the great seal of our said 1 rovince oi Canada to be hereunto affixed : Witness oiir Right Trusty and Well Beloved Cousin The Ri-rht Honorable Charles Stanley Viscount Monck, Baron Monck of Ballytrammon in the County of Wexford IB Governor OciKM-al of llvitish North America and Caiilaiu Goiu'ral and (rovornor in (.Miicfiii and ovi-v Onr Provinces of Canada, Nova Scotia, Now llrunswick and the iNlaiul of Trinct^ Kdward, and Vice- Admiral of the same, kc, y of Baylield's Map and Chart attached. The distance from the oil region to Collingwood — the nearest point where railway communication may be had to all parts of Canada and the United States, is one hundred and twenty miles. The Oil, as proved by samples taken on Cape Smith, where surface indications most abound, possesses the finest lubricating qualities. Samples were obtained by sinking holes from eighteen inches to two feet deep, which immediately filled with water and oil mixed. The oil was skimmed from the surface, and in the short space of one hour, a gallon measure of oil was collected in this manner. It is thought, therefore, that the surface indications are of a character so unmistakable and prom- ising a{> to justify the inference, which will shortly be practically tested, that an abvindant supply of the article can be obtained from surface wells at a very trifiing cost. The explorations also establish the fact that the oil 19 is brought to the surface by springs ol" water, =^ which would appear to render it probabk^ that an abundant supply exists at a depth beneath the surface. Large masses of Shale also crop out of a ridge runn- ing the whole length of Cape Smith, specimens of which were found to be strongly impregnated with the Oil. The Stock of the Company consists of 30,000 Shares of $10 each, and there is a balance of cash now on hand sufficient to carry on extensive operations for the ensuing year without depending upon any return from the oil obtained. The Directors have secured the services of practical men, and have already sent them, provided with ample machinery, to commence operations on a large scale on Cape Smith. The advantages which the Company offers are — 1st. — An immense territory and indisputable title. 2nd. — No liabilities whatever on the part of the Com- pany and Shareholders. 3rd. — No taxes or charges whatever, except the trifl- ing one named, the Company being entitled to all the oil produced. 4th. — Small working expenses, cheap manual labour, and all materials at hand. 5th. — No possible interference from other parties striking wells detrimental to those of the Company. 6th. — Cheap and easy communication for forwarding purposes. 7th. — Integrity of the projectors and their own per- sonal interest in the welfare of the Company. • Beyond Beaufort Bay, the shales run along the south side of the small island north of Maple Point on the Great Mauitoulin, which has already been alluded to, where they rest on the Trenton beds. From Cape Smith to this position, the thickness of the deposit does not any- where exceed about 50 feet. Some of the beds of the formation in this part are more than usually bituminous, and on the island north of Maple Point a spring of petroleum runs from them, — Logan's Geology of Canada, chapter x., page 216 and 217. BY-LAWS, RULES & REGULATIONS OP THB $nnt PEnit0uIin ©il (J^ompuji, MEETINGS OF STOCKHOLDERS. 1. — The chief place of business of the Company shall be at the City of Montreal, and there shall be another place of business of the Company at or near the place where their operations, under their charter are carried on ; and such other branches or places of business elsewhere as the Board of Directors may appo'nt. 2. — The Annual General Meeting of the Stockholders of the Company shall be held at the Ofl&ce of the Company in Montreal, on the second Wednesday in January, in each year, at twelve o'clock noon, or at such other hour as the Directors may appoint ; at which Meet- ing shall be exhibited the Annual Financial Statement of the affairs of the Company made up to the 31st December preceding, and a Report of operations by the Directors thereof. 3. — At all such Annual Meetings an Auditor shall be appointed, for the purpose of auditing and verifying the accounts of the current year, and such Auditor shall not necesBarily be a stock holder. 4. — Special General Meetings of the Stockholders of the Com- pany shall be called by the Secretary whenever he shall be ordered to cull such Meeting by a resolution of the Board of Directors; and also, whenever the Directors shall be required so to do by a requisi- tion in writing, signed by Stockholders in the Company holding one- half of the subscribed Stock thereof; but, in every such case, such resolution of requisition, as the case may be, shall contain a dintinct 22 statement of the purposes for which such Special Meeting is called, and no other business shall be transacted at such Meeting than such as shall be mentioned in such statement. 5.— Public notice of every General Meeting of the Stockholders of the Company shall bo given, by advertising the same in two news- papers published iu the City of 3Iontreal, one French and one English, by at l«-ast three insertions in each, the first of which inser- tions shall be at least fifteen days previous to the day fixed for such Meeting ; and also by letter or telegram addressed (prepaid) to the last known residence or place of business of such Stockholder ; and if such Meeting be the Annual General Meeting, such notice may be in general terms ; but if the Meeting to be held be a Special General Meeting, then such advertisement and notice shall contain the same statement of the purpose for which such Meeting is to be held, as is contained in the resolution or requisition, as the case may be, under which such Special Meeting is called. 6 —If, from any cause, the Annual General Meeting of Stock- holder shall not be held, or legal notice thereof shall not have been given • or if, from any cause, the election of Directors shall not take place on the day hereby fixed for that purpose ; it shall be the duty of the Directors for the previous year, who shall remain in office until their successors are elected, to cause a Special Genera! Meeting of the Stockholders to be called and held as soon as may be thereafter, for the purpose of transacting the business of the Annual Meeting ; and at such Meeting Directors may be elected, and all other matters or things may be passed upon and done, as if such Meeting were in fact the Annual Meeting of the Stockholders of the Company. 7. — At all Meetings of Stockholders the question shall be decided by a majority of votes, every share being entitled to a vote ; and all proprietors of shares may vote by proxy, as he, she, or they may see fit, provided that such proxy be a Stockholder in the Company, and produce from his. constituent, or constituents, an appointment in writ- ing to that effect, in the following words, or in words equivalent thereto, viz : of the Shareholders hereby appoint of the Great Manitoulin Oil one of Company, dc to be my 23 Proxy, (he being a Shareholder, as required by By-Law) and in my absence to vote or give my assent to, or dissent from, any business matter or thing, relating to the said undertaking, that shall be men- tioned or proposed at any Meeting of the Shareliolders of said Com- pany, or any of them, in such manner as he, the said . shall think proper. 18 8. — No party shall be entitled to vote upon any share or shares on which any regular instalments have become due and remain unpaid. 9. — At any Annual Meeting, it shall be competent to the Share- holders present, to determine and vote an aimual amount for the re- muneration of the President and Directors. THE DIRECTORS. 10. — The business and affairs of the Company shall be conducted and managed by nine Directors. 11. — The Directors at their first Meeting after their election, shall elect one of their number to be President, and another to be Vice-President for the ensuing year. 12. — It shall be the duty of the President to preside at all Meetings of the l?oard of Directors, and of the Shareholders; to attend generally to the executive business of the Company, under the direction of the Board ; and he shall be ex officio a Member of all Committees, and no cheque, bond, certificate of stock, contract, or any other instrument in writing, shall be binding or obligatory on the Company, unless signed by the President, and countersigned v the Secretary or Treasurer. 13. — In the absence of the President, the Vice-President shall have all the powers, and perform all the duties of the President ; and in such case, his signature shall have the same ibrce and validity as that of the President : and if the President shall bo absent from any Meeting of the Directors, the Vice-President, if present, shall preside, and in the absence of both, one of the other Directors shall be named 21 actinj; Prcsidoiit, and sliall be invested with the powers, and pertbnn tlie duties of the President for the time being. !•*• — The Directors shall hold Meetings as may be required, and Special Meetings of the Directors shall be called by the Secretary when- ever lie shall rocoivc an order from the President, or in his absence, from the Vice-President, or a rc(juisition in writing, from any three Directors to that effect ; Imt such Meetings shall not be valid unless notice shall have been given to every Director of such Meeting fifteen days previous thereto, or notice shall have been mailed or telegraphed to his address tifteon days before the day fixed for such Meeting. 15. — Five Directors shall form a Quorum of the Board. 1(!.— No person having directly, or indirectly, any interest in any contract witli the Company shall be a Director thereof; and if, at any time, any Director shall acquire, or come to hold such an inter- est, he sliall, ipso facto, cease to be a Director of the Company, and his office shall become vacant within the meaning of the Letters Patent of Incorporation, and another person, duly qualified, shall be forthwith elected a Director in his place. 17.— It shall be the duty of the Directors, from time to time, to declare such Dividends upon the Capital Stock of the Company, or upon su(th portions thereof as shall have been subscribed for and paid up, as they shall deen-. fit : provided always, tliat such Dividends shall only be declared when they shall be justified by the actual profits made by the Company. 18.— The Doard of Directors shall have full power to fix and determine all salaries and renmnerations to be accorded to the Auditors, Olfieors, and Servants of the Company, and to alter and vary the same as they may deem fit. CALLS. 19. — The Directors shall have power, with the sanction of the Shareholders obtained at any General Meeting, to issue new Stock within the amount limited by the Letters Patent of Incorporation ; and to niako the same payable in Cash at any time, not less than 25 ouo moutli from the time sucli Stock sliallbe subscribed Ibr, provided, liowevcr, tliat notliiiig herein contained nliall prevent the Directors from maicing Calls payable in monthly instalments of 10 per cent, each, if tliey see fit to do so. 20.— The Shareholders shall be held and bound to pay the Call or Calls at the time or times named in a public notice to be given, and in default of so doing, the Directors may charge interest on the overdue instalments at the rate of the last declared Dividend. 21.— Any Share, or Shares, upon which any Instalment remains overdue and unpaid for a period of fourteen days, maybe declared forfeited by a resolution of the Board of Directors, who shall have the power, after one month's notice of such resolution by letter through the Post Office to the usual address of the party subscribing for such Share, or Shares, to sell the same for tlic benefit of the other Share- liolders in said Company, in proportion to their respective interests ; and such party subscribino; shall have no claim whatever for or in respect to such Share, or Shares, that shall be thus sold, or for any payment lie, or they, may have made thereon. THE STOCK OF THE COMPANY AND ITS TRANSFER. 22.— No Transfer of Stock shall be valid unless made on the books of the Company, at its office in Montreal ; nor shall any Trans- fer of Stock be made on the said Books at any time during the fifteen days next previous to the Annual General Meeting of the Stockholders of the Company. 23.— No Transfer of any Stock of which any portion remains unpaid, shall bo made or be valid while any overdue Call thereon is unpaid ; nor until any Call then made, and falling due within eight days thereafter, (if any there be) shall also be paid. 24.— No Transfer of Stock shall be made or be valid, at any time, within fifteen days next previous to the limo fixed for the pay- ment of any Dividend. f^" 20 25. — The Scrip Certificate of paul-up Stock sliall be in tlio followinn; form : — INCORPORATED 1865. BY LETTERS PATENT OF THE T'ROVINCK OF CANADA. Sh Hires. THE GREAT MAXITOULIN' OIL COMPANY. Capital Stock, 8300,000. P>0,000 Shares of $10 each No. of Certificate Tins IS TO Certify that is holder of Shares in the Capittil Stock of tlic (ireat Manitoulia Oil Company, whereof the full value of Ten Dollars jier Share has been paid, trans- ferable only on the Books of the Company in person, or by Attorney. 3I0NTREAL. IS S C0.M1'AXV'.S ] President. _Sccretan/. 2(i. — The Transfer of Stock shall be made, upon the books of the Company, in the following form : — For Value Received from of do hereby as.sii>u and transfer unto the said each of which has been paid amountins; to the .sum of Shares (on Dollars, Dollars) in the Capital Stock of the Great JIanitoulin Oil Company, subject tri tlio Rules and Regulations of the said Company. Witness (.lay of dred aud 27 hand, at the Company's Office, this in the year one tliousand eijilit hun- of do hereby accept the forcjioinfr Assiiiinnent of Shares in the .Stock of the Great Manitoulin Oil Company, assigned to as above mentioned, at the Company's Office, thi;j '!''}■ f'f . - ^ _ _ one thousand ci";ht hundred aud -7. — Tlio Accounting Department aiul Office business shall be managed by a Secretary appointed by the Directors. It siiall be his duty to attend tlie Meetings of the Board of Directors, 'keep a regular record of its proceedings, and give notice of Stated and Special Meetings. lie shall countersign all cheques, bonds, certi- ficates oi stock, contracts, and other instruments, when signed by the President or Vice-President, as the case may be ; shall have custody of the seal of the Company ; shall keep and have charge of the books, records, securities, muniments, and accounts, pertaining to the Office : shall conduct the correspondence and manage the general business of the Company. The wliole under the immediate direction of the President, and under the instructions of the Board of Directors, 28. — The Secretary shall prepare a complete Annual Statement of the receipts and disbursements, and of the financial affairs of the Company to the thirty-first day of December of each year for sul)- mission to the Stockholders at their Annual General Meeting, on the second Wednesday of January. 29. — The Treasurer shall have the custody of all the funds of the Company, until the same shall be divided or appropriated by the lie shall make his deposits in such Banks or Board of Directors. 28 other place of security as tlie Directors slii.ll appoint, ai;d liis Hank account shall he kept in the name of the Company. He shall sign receipts and acknowled-cmonts for all moneys and other i)roperty of the Corporation or Company which may come into his hands, and disburse and appropriate the same only under the direction and with the sanction of the Board of Directors. He shall also render a full and particular statement of his cash accounts, accompanied with Vouchers at every annual mcctin,;;- of the Company, showing the condition of its financial affiurs, and a similar account at any regular meeting of the Stockholders, when required by a vote thereof so to do. And he shall not draw any money from the bank of deposits except by his drafts or cheques, countersigned by the Pi'esident or Vice-President. ;}0. — Tiie President shall have the control an:^ ;,.anagemcnt of the OfBccrs and servants of the Company, with power to engage and discharge them from time to time, and to make the necessary rules and regulations for their conduct and guidance. . ,u.-i iftHttiMiii ■■ff.>y.".*nffrf) . ■■ii.'yt. ■ -•i.!r.w.-.gfti'-; Hi