p.2 The editor of the Picton Gazette, referring to the daily steamboat racing on the Bay, reminds heads of families that several agencies of Life Assurance Companies are advertised in his columns.
Port of Kingston - Imports - 10th - Str. Cataract, Ogdensburgh - 1 box, 2 rolls leather, M. Williamson.
Str. Ontario, Oswego - 2 boxes, 1 trunk, 1 bag, 2 chains, G. Gifford; 1 box lemons, 1 box cigars, R. Arcles.
Mr. Joseph Dawson, an innkeeper of Portsmouth, near this city, committed suicide on Saturday by jumping into the lake from the steamer Star when near Cape Vincent.
To provide for increasing the Stock held by the City of Kingston in the Wolfe Island Railway and Canal Company.
Whereas, the Mayor, Aldermen and Community of the City of Kingston are holders of one hundred Shares of the Stock of the Wolfe Island Railway and Canal Company, amounting to two thousand five hundred pounds, paid by debentures in ten years from the second day of May, in the year of our Lord one thousand eight hundred and fifty-two.
And whereas, from unforeseen difficulties in the construction of the work, it has become necessary for the said Company to obtain further subscriptions to their stock.
And whereas, at a meeting of the Stockholders of the said Company, held in the month of February last, it was resolved that the Stockholders in the said Company be requested to increase the Stock held by them respectively - and in pursuance of the said resolution, the individual Subscribers to the said Stock have subscribed for additional shares of the said Stock.
And whereas, an application has been made to this Council, praying that they will increase the Stock held by them.
And whereas, it is necessary, to secure the interests of the City in the Stock already held as well as to secure a proper control of the said work after it is completed, that their stocks should be increased on the condition that the said Canal should be made of a depth of eight feet.
And whereas, a large portion of the Canal is now of the depth, and the Company are proceeding with the work to that depth by excavating the rock in the marsh and the hard pan in the dry diggings.
Be it enacted, by the Mayor, Aldermen, and Commonalty of the City of Kingston, in Common Council assembled:
1. That the Mayor of Kingston, for and on behalf of this Municipality, is hereby authorized and required to subscribe for one hundred additional shares in "the Wolfe Island Railway and Canal Company," at the times and in the manner following: for fifty shares, amounting to the sum of one thousand two hundred and fifty pounds, immediately after the passing of this By-law; and for the remaining fifty shares amounting to an equal sum when and not before the said Canal shall be made at the depth of eight feet at low water mark, throughout its whole length, - Provided always that the Debentures hereafter mentioned shall be taken in payment of the said shares so subscribed.
11. That the Debentures of this Municipality shall be issued, signed by the Mayor, and countersigned by the Chamberlain, to the amount of the said subcriptions, namely, two thousand five hundred pounds, payable in ten years after date with legal interest, payable in the meantime half yearly; the said Debentures may be of any denominations not less than twenty five-pounds each, and one half of the amount of said Debentures shall bear date on the day of the first subscription hereby authorized, and the remainder thereof at the time of the second subscription; and the said Debentures shall be delivered by the Mayor to the said Company in full payment of the said shares.
111. And whereas, in order to liquidate the said debt, or pay off the said Debentures and the interest thereon, it is necessary that a special rate over and above, and in addition to all other rates, for the due payment of the said Debentures, and interest, should be levied annually according to law, on the whole rateable property of the City of Kingston, which rate for the present, and each of the next eight years, will amount to two hundred and seventy-five pounds, and in and for the year one thousand eight hundred and sixty-four, will amount to the sum of one thousand three hundred and seventy-five pounds; and whereas, the whole rateable property of the City of Kingston for the last year amounts as near as can be ascertained, to the sum of sixty-six thousand pounds yearly value, and, therefore, as a special rate for the payment of the interest of the said Debentures, and for creating a sinking fund for the payment of the principal of the said Debentures, the annual rate of one penny in the pound upon the said rateable property, will be required for the present and each of the eight following years; and the annual rate of five pence in the pound for the year one thousand eight hundred and sixty-four. Be it therefore enacted, that for the payment of the said Debentures, principal and interest, and in forming the said sinking fund, a special rate of two hundred and seventy-five pounds shall be levied in the present, and in each of the next eight years, and in the ninth year hereafter, a special rate of one thousand three hundred and seventy-five pounds, on the whole rateable property of the City of Kingston, - and that for the purpose aforesaid, the annual rate of one penny in the pound in the present, and in each of the next eight years, and a rate of five pence in the pound, in and for the tenth year hereafter, shall be respectively assessed, levied, and collected, upon the whole rateable property of the City of Kingston.
1V. That this By-Law shall come into operation, and take effect on the fifteenth day of September next.
Notice - The above is a true copy of a proposed By-Law to be taken into consideration by the Common Council, of the City of Kingston, in the City Hall, on Monday, eleventh day of September, 1854, at the hour of seven o'clock in the afternoon, at which time and place the members of the said Municipality are hereby required to attend for the purpose aforesaid.
By order of the Common Council.
June 13, 1854