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Tous les autres exempialres originaux sont filmte en commenpant par la premiere page qui comporte une empreinte d'impression ou d'illustration et en terminant par la dflrnidre page qui comporte une telle empreinte. Un des symboles suivants apparattra sur la dernlAre image de cheque microfiche, selon le cas: le symbols — ^ signifie "A SUiVRE", le symbols V signifie "FIN". Les cartes, planches, tableaux, etc., peuvent dtre filmte A des taux de reduction diff£rents. Lorsque le document est trop grand pour dtre reproduit en un seul cllch6, 11 est film6 d partir de I'angle supArleur gauche, de gauche A droite, et de haut en bas, en prenant le nombre d'images nAcessaire. Les diagrammes suivants illustrent la mAthode. 1 2 3 1 2 3 ::■;:«,,; :; i 6 I TORONTO ANDrxUELPH RAILWAY COMPANY. SECOND AMUl REPORT OF THE BOARD OF DIRECTORS. Adopted at the Annual General Meeting, held Monday, June 6, 1853. I TORONTO : HENRY ROWSELL, 1853. 1-2^10 TORONTO AND GUELPFI RAILWAY COMPANY. DIRECTORS: J^l•fei^cnt. John G. Bowes, Esq., Mnym- of Toronto. tllcf-|irc0ilifnt. Jamks M. Strachan, Esq. W. Allan, jR.ccve ofChingnacoiisy. William Clarke, Reeve of GueJph Town. Benjamin Thurtell, Reeve of Gm/ph Township. J. Beaty, Esq., Toronto. Hon. J. H. Cameron, Toronto. A. M. Clark, Esq., « George Duggan, Jr. Esq., " John Fiskin, Esq., « Wm. Gooderham, Esq., « G. J. Grange, Esq., Guelph. William C. Gwynne, Esq., Toro77to. George Herrick, Esq., « Lewis Moffatt, Esq., « E. F. Whittemore, Esq., «< Frederick Widder, Esq., '* .SfcrctiKij ttn> trco0«rfr. Samuel Thompson, Esq. Cljicf Crtjinwr. Walter Shanly, Esq. John W. Gwynne, Esq., Q. c. The Ban« of Uppku Canada. V ,.> H-', KESOLUnONS ^"^'itaLVr ^''''''"\f^"^^'-"l Mceling of the Toronto and (h,rlph Raihmrj Company, held at the Company^s Office,, on Monday June G, i8r»;j. John Duggan, Esq., in the Chair. Moved V^ J. G. Bowes, Esq.. seconded by W. Goodekuam, Esq., V<^t^^. ^'^^ ^^'^^^ ^"^ ''■ ^- «— ' E-i-.. be .p- iMoyed by RrcE Lnwis, Esq., secondc.l by M. P. IIavhs, Esq., and adi"etl7d thatloo". "^''T "'^^ ^^^^' '^^ *''« Scereta'; bo hoiders.' P'"' ^"^ P"°**^^ ^'^'' "'« "^<^ of tbc Stock- Moved by^E. P. AVhxttemore, Esq., seeonded by L. Moffatt, Esq., o^^£Ao\t~?- '^Y}^''; Treasurer be instructed to pay the sun, of ill 10.,. to each of the Auditors, for their services the^st yc"; E'^q.,^and- ''""^^--- ^-^'^ --nded by J. G Bow..s. lotlrtrsTc'retliy^of^S^^^^^^^^^^ -'-'''^ ^^^^ «^ *^« ^^^- Moved by M. P. IIav.s, Esq., seconded by Rxck Lewis, Esq., and Kesolved unammonslu—rj. That the tlinnkc nf +i.„ o* i i , i be cordially tendered i the V:^JS^l^Z^S^^ the very sat..sfactory position in which the afFaii" of U e Conm^^v have been placed by their labors during the past year ^''"'P''"^ Moved ^by Rice Lewis, Esq., seconded by W. C. Gwynxe. Esq.. ) et'n1ertd"to't;"?~'; '^^'"^ ,*l'.? *^^"'^'^ «^ *'»« Stockholders Fsn fi f 1 n Secretary and Treasurer, Samuel TJiompson Esq., for the very satisfactory and economical manner in which M?e acc^mnts and office aiiairs of the Company have been manS by Moved by .T. G. Bowes, Esq., seconded by L. Moffatt, Esq., and i'^ti^.^s^t'Zi '"'■■ '- '~° '^" «■*• - Moved by J. G. Bowes, Esq., seconded by L. Moffatt, Esq., and Resolvm~S. That the thanks of this Meeting be civen to Jomm DcoQAH, Eiq.. for his able conduct in the ChairT ^ ^ REPORT. The Board of Directors, in laying before the Sharehohler.s ol the Toronto anil Guelph Railway Company a statement ol their tranisaclior.s for the past year, do so with no ordinary feelings of pride and gratification, at tlie commanding position and future importance which, in the brief period of their tenn of olFice, this infant enterprise has secured. When, twelve months ago, the Directors assumed their onerous trust, it was generally understood that the construction of a railroad from Toronto to Guelph would be a task attended with much difficulty and discouragement, in consequence of the scarcity of capital, the limited powers granted by parlia- nient, and the powerful union of opposing interests. Confi- dent however, in the intrinsic merits of the undertaking, and the vast benefits to be derived from it, by the citizens of Toronto and the inhabitants of every town and township interested, your Board set themselves steadily to work, to sur- mount the obstacles that lay thick in their path, and the result has been, that at this moment, not only is the railroad visible as an actual fact, in a more or less advanced state, in almost every part of the line between Toronto and Guelph ; not only have surveys been completed to Goderich and Stratford, and particularly so from Stratford to Sarnia .; and full powers obtained from the Legislature, despite of all opposition, to extend our line to the last named point ; not only has this been accoinphshed, but important as these results must be considered, they are only a portion of what the Toronto and Guelph Railway Company has achieved. The attention of your Board was early directed to the advantages to be expected from a junction between this Company and the Grand Trunk Railway Company, in con- s Ke({ucncu ui' their cvidciil coininuiiity ol inturcsls an respcctii Canadian, in contradistinctiun to American travel, and tlio vast accession of financial strength which must accrue, shouM sucii a union be cnbcted. With this view, among the many inducements whicli led them to give a preference to a tender made by Messrs. C. S. Gzowski &, Co. for the road from Toronto to Guelph, was the offer of those con- tractors appended thereto, to carry on the line from Guclph to Stratford and Goderich or Sarnia, upon certain specified conditions ; as well as their knowledge of the fact, that those gentlemen being directly interested in the Montreal and Portland lines, were then actually in communication with Messrs. Jackson St Co., for a junction, under the powerful auspices of the Provincial Government, of all the lines of railway to which the Provincial guarantee would be extended east of Toronto. Your Jiourd felt satisfied that no Shareholder in this Company, if made aware of these circumstances, would hesitate a moment in accepting a temlor, fair and reasonable in itself, and accompanied by inducements so all-important. They acted accordingly ; and although, from the confidential nature of the transaction, and the necessary privacy to be observed, the Directors may have suffered under some tem- porary misconstruction, they now lay the whole circumstances before the assembled Shareholders, in the most jjerfecl reliance upon their full sanction of all that has been done. Under the able agency of Alex. Gillespie and A. T. Gait, Esquires, deputed by your Board, the arrangoment.s have been all completed, the legal documents signed and delivered, subject to the sanction of the Shareholders, by which the Toronto and Gue' h Railway Company has become a component part of a great congeries of Railroads, extending from the Atlantic coast on the east, to Port Sarnia on the west, a distance of 809 miles, with branches to Quebec and thence to Trois Pistoles, 253 miles, and to V' ■ f.i[ 9 Peterbopoiigli 50 miles, bring 1112 miles in all, independent of the large number of irihutary linens wjiich rnii>?l pour in their strciims of travel, from Hamilloii, from (lodericli, Port Hope, Oobourg, Rawdon, Hcc, besides the •-onnoctini^ link^i which will unite our line with the Railroads of Nova Scotia, New Brunswick, Maine, New Hampshire, Vorniont, Massachusetts, New York, PemiHylvania, Ohio, Michiajan and Wisconsin, all situated withi" reach of one or other ot its various tributaries. The oidy remaining condition wanting to secure these enormous advantages, the sanction of the Shareholders, has now been fulfilled. By authority of your Board, u meeting was duly called for Friday last, the 3rd instant, to increase the capital stock of this Company to Ihe amount required lor the entire construction of the road from Toronto to Sarnia, and for all contingent expenses, and to give the final sanction to the amalgamation of the Toronto and Guelph with the Grand Trunk Railway of Canada. That sanction was given, and the duties of your Board are new resolved into the brief task of giving an account of their stewardship, anu of asking your approval of their acts. The overwhelming importance of the transactions now announced to you, might seem to render all minor details matter of trivial consequence ; but, however tedious the perusal may prove, the Board feel it their duty to place upon record every important step taken by them during the year. The report submitted to you at your lat^t annual meeting, informed you, that the Board of Directors then resigning their functions had adopted the route from Toronto to Guelph, via Weston, Brampton, Georgetown, Acton and Rockwood. Immediately after their election, the present Board took prompt steps for advertising for tenders for the construction of the road so surveyed and ^elected. They first advertised for tenders for the grading and masonry only, and received in all 110 tenders, of which 48 were for the entire road, and 10 tlie rcmainiler for sections or divisions. Of these, the most favorable were based upon terms of payment wliich vvouhl have ab.>^:orbcd all the available resources of the company, and would therefore, in the judgment of your Board, have precluded the company from being in a position to provide ibr the completion of the work. Circulars were therefore issued to the whole of the parties tendering li)r the entire line, requiring them to state upon what terms they would under- take to complete the road in running order; and alter twice extending the time for the reception of the revised tenders, nineteen were received, of which but two were found to be based upon terms financially within the means of the com- pany, and at the same time reasonable in amount. Of these, after much discussion, and for reasons pardy stated above, the offer of Messrs. C. S. Gzowski &: Co. was selected, and a contract entered into with that firm, which was formally signed and completed on the 26th of November, 1852. The principal conditions of that contract were, that Messrs. Gzowski &. Co. should be paid for the work according to measurement, at stated prices lor excavation, masonry, &c., amounting in the whole, according to your Chief Engineer's estimate, to ^6355,600, or about £7350 per mile, for the construction and equipment of the road, exclusive of fencing, stations, right of way, contingencies, »tc. The additional expenditure required Ibr purposes not included in that con- tract, such as fenchig, stations, office expenses, purchase of land, and other contingencies, would be abcut jGb5,000, or £8940 currency per mile in all. The heavy character of the road, comprising as it does an unusual amount of engineering difficulties, in consequence of the necessity of ascending the summit of the mountain ridge near Acton, the number of large bridges, and the expensive nature of the land claims, will account tor the increased cost over that originally contemplated. In payment of their contract, Messrs. Gzowski & Co. accepted jE 145,000 in Municipal ipsa u bonds, and the remainder in bonds of the company. They also subsequently placed at the disposal of the Board of Directors a sum of £15,000, to be increased to £20,000 if necessary, for the purpose of meeting claims for land, to avoid all risk of delay. The conditions of the contract were, that the road should be completed according to the plans and specificaiions, subject to the approval of the Chief Engineer, to Weston by the first of November, 1853 ; to the West C/edit, near Nerval, by the 1st of July, 1854 ; and to Giielph, by the 1st day of November, 1854<. Accompanying the contract, and accepted with i(, provisionally, was a proposal from Messrs. Gzowski & Co., for the extension of the rail- road from Guelph to Stratford and Sarnia or Goderich, on the same terms and conditions. Messrs. Gzowski Ar, Co. also undertook that the whole of the works connected with the road, for outfitting, &c., should be constructed within the city of Toronto. In the meantime, your Board had contracted for the purchase of a small quantity of railroad iron — 200 tons, at ;£8 per ton delivered in Montreal, which they transferred to the contractors at cost price and charges, which were paid accordingly. In pursuance of the offer liberally made by the Canada Company, through their commissioner, F. Widder, Esq., and communicated to you at the annual meeting for 1S52, a mortgage bond was executed by your Board in .Tuly last, by which the debentures issued by municipalities holding stock in this company, to