|Friday, February 28, 1873||The Woodstock Sentinel (Woodstock)||Page 2, col. 1|
An important amendment.
In the amended charter of the Port Dover & Lake Huron Railway, which has now passed its second reading in the House and may therefore, be considered law, we find the following important additional clause:
"It shall be lawful for the said company and any such municipality as aforesaid, which shall pass a by-law granting to the said company a bonus in aid of the construction of the said railway, to enter into an agreement under their corporate seals that the said bonus, when paid over, shall be given and received, on and subject to the condition that in case the said company amalgamate with or lease the railway to any other railway company, or grant to any other railway company, or to any person or corporation, exclusive running powers over, or exclusive rights, to use, interfere with, or exercise any power over the said railway, then, and in any such case the said company shall, at the expiry of two months after demand, return to the municipality demanding the same the amount of such bonus without interest, up to the time of such demand."
This clause, it will be observed, enables any municipality granting a bonus to the Road, to enter into an agreement with the company, finding said company to back the amount of such bonus should the Road at any future time pass into the hands or under the control of another company. The advantage of such a clause to municipalities aiding the Road is apparent and its incorporation in the amended charter at the instance of the Directors will be accepted as another proof that the company is determined to give municipalities absolute security against future loss before asking for, or receiving from them, a single dollar in the shape of bonuses. East Zorra, East Oxford and other township councils about to submit B-laws to the ratepayers will doubtless see the propriety of taking advantage of the security offered by this clause.
Railways: Pt.D. & L.H.Ry.