183

f.—3a

to any person, company, or corporation, for such consideration or premium as this company may think fit, and in particular, wholly or partly for cash, or wholly or partly for periodical payments of cash secured or unsecured, shares wholly or partly paid up with liability to pay the full nominal value thereof, stocks, bonds, obligations, debentures, debenture stock, scrip, or securities of any person, company, or corporation, and whether of the person, company, or corporation acquiring the interest so disposed of or otherwise. (25.) To divide among the members of this company from time to time whatever the company may decide to be the profits arising from the operations of the company or any part of such profits. (26.) To divide as profits among the members of proceeds""of any disposal or realization of any part of the property or assets of the company which in the opinion of the company may fairly be considered and treated as accretions to capital. (27.) To divide as profits among the members of the company the net annual income to be derived from the exhaustion of any wasting asset of the company, without any obligation on the part of the company to provide for loss on any previous years' operations. (28.) To divide any property of the company, or any cash, or any shares, stock, bonds, obligations, debentures, debenture stock, scrip, and securities the property of this company, or of which this company may have the power of disposing, whether or not the same be the proceeds of any sale, lease, exchange, bailment, license, or other disposal or amalgamation as mentioned in clauses (22) and (24), or otherwise belonging to the company, among the members in specie or in kind according to their respective rights. (29.) To borrow or raise money, or secure the payment of money owing, or the satisfaction or performance of any obligation or liability incurred or undertaken by the company, in such manner as the company may think fit, and in particular by the issue of debentures, debenture stock (perpetual or redeemable), or by mortgage or charge or lien upon the whole or any part of the company's property or assets (whether present or future), including its uncalled capital, and to purchase, redeem, or pay off any such securities. (30.) To make, draw, accept, indorse, discount, execute, and issue bills of exchange, promissory notes, bills of lading, dock or other warrants, debentures, and any other instruments negotiable or transferable by delivery or to order or otherwise. (31.) To lend or advance money or give credit to such persons and on such terms as may be thought fit (and in particular to customers and persons dealing with the company), and to give guarantees or become security for the payment of moneys or the performance of contracts or obligations by any such person, companies, or firms. (32.) To invest and deal with the moneys of the company not immediately required in such manner as may from time to time be determined, and in particular to invest the same on mortgage or purchase of real, leasehold, or personal property, shares or securities, or by depositing the same with any bank, company, firm, or person at interest, and such investments from time to time to vary. (33.) To use any reserve fund created from accumulated profits or from the issue of shares at a premium as part of the company's capital without capitalizing the same. (34.) To remunerate any person, firm, or company for services rendered to the company, or to pay for any properties, rights, privileges, concessions, or any other thing or interest acquired by this company by cash payment, or by the allotment of shares, debentures, debenture stock, or other securities of the company partly or wholly paid up or otherwise. * (35.) To support and subscribe to or establish, or aid in the establishment and support of associations, institutions, provident and benefit funds, trusts, societies, or clubs which may be for the benefit of the company, its employees or employers, or which may be connected with any town or place where the company carries on business ; and to give pensions, gratuities, or charitable aid to any person or persons who have served the company, or the relatives or dependants of such persons. (36.) To improve, manage, cultivate, develop, let or lease, turn to account, or otherwise deal with all or any part of the property or rights of the company. (37.) To construct, maintain, alter, improve, enlarge, pull down, remove or replace, manage, carry out and control any buildings, works, factories, mills, roads, ways, tramways, railways, branches or sidings, bridges, walls, banks, dams, sluices, watercourses, wharves, manufactories, warehouses, electric works, shops, stores, or other works and conveniences which may seem to this company likely to advance the company's interests, directly or indirectly, or to contribute to, subsidize, or join with any person, firm, company, or corporation in so doing, or otherwise assist or take part in the construction, improvement, maintenance, working, management, carrying out, or control of any such work or conveniences. (38.) To promote or join in promoting any company or companies for the purpose solely or partly of acquiring all or any part of the undertaking, property, rights, concessions, or privileges, or liabilities of this company, or of undertaking any business or operations,