The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

as t b cw rt iurit i i i n s4 i v iji r fr bylaw no 7 10 11 7os at ain 31 044 7 uxtv 43 1ktjl 67 iu 309 51 36t 91 301 4u s 47 u8 l3l 30 t a j 7 b4 ttqp 193 77 lltf4 77 um 77 11iw 7j j1w 77 irta 77 li2 77 i 4ebenftu of w village fc cukvffctpwn to the onjoiml of ten thousand dollar tognt a bonuff y way of joan to henry corke flf assist mm ta rebuflov reequlp fcnd operate and carry on a factory for manufacturing woollens and woollen goods if the- said vil lage of georgetown v i ihlli a8 ths snld henry corke uookn nmnufuctuiei of the said ml lu of oiotgrtowii curilem on a busl ikhu for manufacturing woollens ami woollen oondh in hih firtory situated hi the village of georgetown avu whfnab in the month of march liuit the mild fnctory was des troyed by fire and whlrea8 in order to rebuild the said factory the bald henry corko hah asked the said coi poratlon of tjoorgctown to lend him the sum of tin thouhhiiil dollars to usslst him to rebuild equip und operate and cat ry on the said business ani whereah there is no other manufactory of a similar natui e oi kind established in the said vi ugo of georgetown and wheiibas the said henry coi ke has entered into nn agrnement with the said nrpotutlon of george town dated the twenty hecondday of april a d 1018 subject to e ap pro vol of the duly quailled rntcpnycrs of the nn id village of georgetown a 1 opy wheioof is sit foith in tho ache lulu heicunto annexed and murked v am amilkeas it is expedient to 1 ass tills uy law nnd submit tho kama to the electors of the said munici pality to raise bj way of loan the snld sum of ten thousand dollars to ushis by way of bonus the said henry corku u rebuild equip and opeute and carry on tho said huhfncss in the suid fnc- toi y and whbitnab for the puipose 1 foresaid it will be necessary to issue di 1 enturea of the said municipality fnt the sum of ten thousand dollars tho proceeds of the said debentures to he spited to the purposes aforesaid and to no otlior and whhhgah it is desirable to lstue the said debentures at one flmo and to make the principal of tho said de ben tines repayable by yearly sums dmlng the mid period of twelve yen is being the currency ff the said deben tures said yearly sums being of such 1 spectiv c amounts that tho amount payable in each your for principal and intctest in respect of the said deben tures shall be equal to the amount piynhlc in each of the other yeirs of the wild period as is hereinafter mentioned and wiieritas the amount of the txlsting dt bent tire debt of the said municipnlit ex luslvo of local im provement debts secured by special ussi ssmonts 1h it f17 02 of which no pnit of the pilnclpal or inteiest is in a rrear and whdri as the whole rate- able property of tho said municpallty liable to he tated for the said purpose irrespective- of any future increase in the sumo according to the last re vised assessment toll is 1818 804 83 theitel ohe the municipal coun cil of the village of georgetown en acts as follows 1 that the said agreement here unto annexed and marked a is hero by ratified and confirmed 2 that it shall and may be lawful for the corporation of oeoigetown to loan to tho said henry corke tho sum of ten thousand dollars as by way of bonus in aid of the said business upon the terms conditions sttpula tlons and provisions set out in tho agieement hereunto annexed and marked a 1 that for the purpose mentioned in the preamble there shall be borrow ed on the credit of the said corpora tion the sum of ten thousand dollars and debentures shall be issued there for in sums of not less than one bun dled dollars each payable in the mun- ner and fat the amounts and at the times set foith in paragraph four hereof 4 that the said debentures shall i oai interest at the rate of six per cent per annum having coupons at tached for payment of suuh interest und shall all hear the same date and h lit ii bo issued within two years after the date on which this bylaw is passed and may bear any data within such period of two years and shall ho payable at the merchants bank of canada georgetown ortarlo within twelve years next after the date when the situll bo issued and the respective amounts payable in each of such years shall be as follows 6 that for ulo purjaie pi pttyin fli- idinstabwits of prltiehuflvapd interest as he stun jail doeotfespeq- tlvely duilqir tho hpjd tweje yearn bwugtue turreic oc the sa-tdidoben- ttes there shtril jievjti ntul raispct in- eqiih ytarby irpocial nato huft clerft outnir on all thp rateable pro perty in the said municipality the uum of otie thou m nil one- hundred tfna ninety twu and 77 100aoi1ars at tho same time bad in the same nuimtr as the annual general rntth i pich ot the wild cttmntuies shall bo signed by the rco of the said lllage of georgetown or by some dthct person authorized by by law of the said municipality ti nlgn tho same and by the tttamjier of the said v ii- luhe and the clerk of the said muni ipillty shall ifttx the con oroto st 1 thetcto tho coujioiih rihjilt be slgnetl by the tu t surer of tho corporation and hih ignatuio nitty bo pi inted htamired llthograihel or engrossed 1 fnally passed hy nn ailltmatuo ote of thiee qiiaitvth it all tho mem bers of the council thin day of ad 1118 0ujj and cabled ton aftef tii said- fiageji jltf anil rtjoh other oyonorits trrn fur a ihod qua1 to hti time of as the sajd eerpotuiion shall deem fhettum liitoiuipmnoer and tibov- dwralflo foi the security thereby ln- the said itree months and in case any tended qiet possession oh default intmrruptlons ftom any tube as afore fcoedtun frpm mdunrberanclb except said other lthatijrvm total low by jprc herein mentjflrterf fyrler uhsimmco hhnll pefpt n longer period than ym almt no tdt- hoa beenilone toerfcumber ipoxiytlf any year- the oufej manu- wit auldv latiua except as herejp min fiitureis piilnehm shall be cohtlnued tipne1 lnsuuivci 0 tnd extent of their vandjcnrrjaivori atr ttt jjald drm ttf fplf injiurabl value in dollars eurrenqy ii period oqieia to tho that of htfxt- totwfui mteit ef omada t the rulpilbn 6wrvid otiovo tho said tw biiljdlnghnant artd rntiujhery ot the ipofctfis the ald manufacture to rtiqlengod irenatss a wfcase roi ah ltavthovirth toshut down tho aultlyuilmi hubjec rtt thoinvtto for tje- fttrttwiv iurlnif neroojj in onc ca iwynjetitu ijwer of walo on default fc ilin kg ih tnjd perloa qf twelv veart ft pno nonth 6n aha ihonois potlce foitht jiutpose of tuknift stock or tor wi wrltltfg atid untn default th- njuilclnff lepftipi vmch sahi orle mmitli mortgagor to have yutot ilsseslon t va veer no 1 2 8 4 principal intereat total 1502 77 628 34 eso 04 706 00 600 00 864 43 526 480 1192 77 110277 1101t77 1102 77 8chedule a this indenture made in ttlptl- cate this twenty hccoiki day of apt ii in the year of our loid 0110 thousand nine hundred and clglftreti betweeni henry corke of the village of goorgetown in the county of ha i ton and province of ontario wtrotlbn msmrfacturnr hereinafter called the manufacturer of the fir8t part and the corporation of the village of georgetown herein after called the corpora tion of the 8ec0nd part iinteas the sn td manufacturer ratiles on the bimln hh of manufnr turlng woollens and woollen goods in his said factoiy wituutid in the said village of iiorgetowii and whereas in the month of maich last the said fmtory was dew tioyed by are and wiipiieah the sold ma 11 u far ttirer has resolved to n build a laigir and mote modem fnctorj for tho put pots aforesaid and oiulp and operate and cairy on tho haiti factory pro- idod a loan of ten thousand dollars is gi anted to him by the said corpora tion and wheilcas the said corpora tion has agreod to uubtnlt for the ap proval of the qualified electors of tho village of georgetown nnd to flnallj 1 ass if approved by the vote of he said eloctors a by law to confirm and apptove this agreement nnd to grant to the paid manufacturer nr addition al bonus by way of loan of the sum of ten thousand dollars payable in cash now tilpuel ori this lndontuio witnesseth that in consideration of tho ptcmisci and the tei rrih agreements conditions and stipulations hereinafter ontalned the nald partleh hertto do hereby mutuilly covenant tind agree to and with each other an follows hat is to say the wild munufac tin ei agrees 1 irstly that as soon as possible after this agreement is executed by the sn id corpoiatlon and the by liw confirm ing same is passed aftor approval of electors to proceed with all proper diligence to erect upon bald factoiy site in the said villngo of georgetown all necessary buildings for a suitable factory foi the manufacturing of wool lens and woollen goods at a cost of approximately ten thousand dollars and to be built of cement brick or sjone and also to put and place in ftald factory all noreary plant ma chinery and oquiprnnnt eultuble or the cartylng on of tho nald business at a cost if approximately ftixtcon thou sand dollars secondly the said manufacturer shall eroct and complee tho said building and shall place the said fix cures machinery atul plant thdreln and have the same iruoperatlon ns a going concern on the flist day of novomlior a d limfi or within such further tlmo as ittay bo nl lowed by the said cointu atlon thirdly that he whl cairy on the buslnoss of manufacturing woollens and wool len goods in tho scid vlllugo of george town in his said factory or other suit able building for a period of twelve vents from tho first day of novombor a d 1918 unless in caste of firo acci dents to machinery strikes or for any other cause such as shall rendoi an interruption unavoidable and in nny such case operations nhall be resumed a soon ns possible thei eafter not ex- roedlng twelve montht- 1 1 case of t tal loss by fire and in case of any inter ruptions by total loss by ore oh afore said shall be for a longer period than thiee months in any year tho said manufacturers business shall be con- nevorlhelehn ctiuftfs ns part ofthe mild twelve j ears nd the said business shall be doomed to bo in ppt ration for the painove of calculating tho said period i ouruily that ho will during the huto period of twelve years except the first year of tho said term pay in wages a sum not less than two hundi od and fifty dollars per week unless prevented by sti lk s 01 other unavoidable causes and tho calculation of the amount of wages paid to be mado as is luieln- iiftcr provided i ifthly t hat he will only employ pei sons who aie itritlsh or american subjec tm and who are residents of the said illitge of georgetown sixthly thut he will annually during the snld tei m of twelve you is if required to do so by the said corporation sub mit to tho said corporation a state mint as to the wages paid sucli utato ment to bo prepared and signed by a jffulnr chartered ucrountant uailsfuc- tot y to tho said corporation and if required nlso verified by statutory dc c ini atlon to be made by the said manufacturer and if it shall apeai that the nveinge weekly amount paid foi wages during the year by tho said manufacturer has been loss than two hundred and fifty dollars tun the said cm potnth n shall be entitled to icallu fiom the said manufacture as liquid uted damages for such default at tho t ite of ten dollars foi each twenty- i 0 dollars short of the said w e kly veruge of thtet bundled dollits any and all deputes arising under this e aunt ahull hi hi tiled by a board of thiee arbitiatois otie of whom shall hi selected by the snld corpoi atlon nnotlui by the wild mnnuf tcturet and the third rh jsen by the othoi two sevi nthly pi it ie will ixpend approxlm itelv the sum of ten thousand dollars of his own money in addition to tho ten thousand dollnis heroby agreed to be loaned to him by tho said coipoiatlon and tho six thousand dollars realized hy him from the insttranco on the old factory which last mentioned amount the said manufacturer is bound to ix- pend in the rebuilding of the new fac toiy to puichuse machinery plant and equipment mcessaty to properly oper ate and curry nn the said business highthly that he will also provide an addi tional flvo thousand dollars of his own money to be used solely nnd entirely by the said m inufurturcr to purchase or make additional machinery to be used by him in the said fnctory and foi woiklng capital to be used in the said business ninthly that ho will place an insurance policy upon his life for the sum of five thousand dollars in ono of the te cognised standard insurance com- piniis of canada and will assign the said policy to tho said corporation and will promptly pay all premiums necessniy to keep said policy in full force and effect during the cui roncy of this agreement and until the loan hereby authorized is paid off and dis- ehntged tenthly that ho will repay to the said cor porntlon tho amount of the said loan of ten thousand dollars with interest nt tho rate of six per cent per annum within twolve years from the date that tho said money is loaned by the said corpoi atlon to the said manufacturer the principal und interost to be com blued and payable in twelve equal sue cossive annual instalments of one thousand one hundred and ninety two und 77101 dollars each the ftrstof such combined payment of principal and interest to becomo due and to bo paid one year from the date of tho mot tgago hereinafter mentioned eleventhly thut he will execute in favour of the said corporation as security for the said loan of ten thousand dollars and interest ns aforesaid and as security for the performance of all the coven ants agi eomonts stipulations and pro visoes heroin contained on the purt of the said manufacturer a mortgage to the said corporation upon the snld lands and premises buildings plant and machinery and upon all other fixtures plant and machinery placed or erected upon the said land and pre mises in connection with the sajd factory free from all dower liens charges and encumbrancos of every nature and kind except a prior moi t gage now on the said promises made by the said manufacturer to the said cot poratlon as security for the sum of six thousand dollars and upon all buildings plunt and machinery that may be subsequently erected or brought upon the said premises during the cur- icncy of said mortgage and the said lands buildings machinery and plant to be of the value of twentysix thou sand dollars the said mortgage to contain such covenants as aro usually contained in a mortgage made in pur suance of the short forms of mort- tu id a piovfso for th rdpuymejil of thti sulu sum of ten thousand doilats and intel est nt the- rnte f six per cent per annum in the flniouuts and at thfe times mentioned n tho proceeding pnjugraph hereof and will chitge ngtlnht the said landj all piemlums on the insurance to he ntfectid as aforesaid on his life as part of tho moneys secured by said moi tgage tho said mortgage shall piovlde th it all teims covenants and conditions and pi ovisacs of this agiee ment shall so fai as tho same may be ttpplje iblu tu both pnrtlia heieto be lr e ludud in and foi m put t of the said moitguhi until the mime is disci irged as hen 1 uiftei piovldcd und shall b satisfactory in all respects to tho soli citor for the corporation twilfthly that in default being made during the curtency of the said martgage in 1 1 y of the conditions terms coven at ts and agreements and provisoes set out to be obsei ved atid performed by the said manufacturer under this agieement then in such case the said 01 pot atlon shall have the 1 lght to recovei as liquidated damages the seveial sums set out in this agreement in reference 1o such default and for such purpose may exetclse all their rif hts a nil remedies as mortgagoes under the said moi lgage until the dlschiuge of tho said moi tgage in as full am ample t manner to recover the same as if default hud been math in tho pay me nt of the sum secuied by the said mortgage and this ctauhe may bo pleaded as an estoppel to any defence preventing the said corpor ation from ptocoedlng to reallzo the said sums under said mortgage dutlng such time thirtoenthly that any joint stock company which may be lncotpoiated and which may t ike over the said manufacturer s biihlnesh and factory and any llim or persons succeeding the said manufac turer in said business shall be entitled to the same privileges and conditions as the said manufacturer is entitled to under this agreement and shall ac juire the sumo subject to the same teims nnd conditions as are in this agreement contained but the said manufacturer htreby covenants and agrees that he will not assign sell or transfei his sitd business to any com pany firm or persons during tho said term of twelvo years without obtain ing for tho said corporutldn the cov enant of such new company firm or persons for tho due carrying out of this agieement in addition to the con tinuing liability of the said manufac turer himself rourteonthly that if he tho said manufacturer while this agreement is in force ac cepts any inducements to cease carry ing on business in his said factory in the said village of georgetown or thtough any cause whatever they shall tease carrying the said business dur ing the currency of this agroement ho will pay to the said corporation the sum of two thousand dollars by way of compensation to the said corpoi atlon for loss costs and damages oc casioned thereby und the said sum of two thousand dollars shall be recover able by the said corporation front the said manufacturer as liquidated dam ages and not as a penalty and this flioll be in addition to and irrespective of any other right liability or remedy wllch the said corporation may have against tho said manufacturer for the broach of any of the terms covenants and agi eements contained in this agreement tho suid corporation agrees firstly that it will make the said loan to the said manufacturer upon the terms and conditions herein mentioned secondly that it will submit to the duly qualified rate pa vera of the said village of georgetown for the purpose of ob talnlng their consent a bylaw to rati fy this agreement and to authorize the said corporation to raise the sum of ton thousand dollars and to lssuo d bentures therefor for the purposes aforesaid and if so appioved to finally pnss the said bylaw thirdly that it will pay the said manufac turer the said sum of ten thousand dollars after the by law haa been ap pioved by the said duly qualified rpte- payors of the said village of oeoige town and finally passed by tfie coun cil of the said corporation and the mortgage aforesaid given to the said corporation said sum of ten thousand dollars to be placed to tho credit of the said corporation in the merchants hank of canada georgetown ontario and to be payable to the said manu facturer as follows five thousand dollars to be advanced to the said manufacturer upon the said factory being erected and maohlnery plant and equipment to the value of five thousand dollars being installed therein the remaining sum of five thousand dollars of the said loan to be advanced to the said manufacturer when the remaining eleven thousand dqlfato worth ofmuehiheryfpani aid equipment are installed in the a1d factory and tho wild factory is 5n operation us ja going concern there 4 being do liens clrarges or encum- brapceh against tfavsatd an6uufd- fnjrs jnacnjnery fa plant except ii aro hftfreuj mentlorid amd satisfactory expenditure vouccro qfl tffc s bulls ing plapt and maplvlaey 4ove wan hirst produced by rfo said wwi fffctufer iftrentflpgd by twsald ci- j poraqon f an a it k urtnbr understopd jris agreed hy apd fctfreett the partita j thereto tho if the corporation- rfhoitfuv v ubptt tych wyjow and f cb ly- hfw hhouldnqt reoelen ote suruckm to carry a jonas bylaw os provided hy the provisions of the municipal act then this agreement shall be nul liud void and of no effect and thepifrijkh heteto shall le released flora all lia bility ir obligation thereunder and it is further understood and agreed by and between the parties hereto that wherever either of the pai ties hereto are referred to such re- fei once shall when the context so allows lie deemed to include and ex tend to nnd be binding on the heirs executors administrators successois and assigns of each of the said pur tlls in wiwess whereor ihe party hereto oftho first part has hereunto set his hand and seal the day and year first above written and the said cor poratlon has herounto affixed its coi porate seal and the hands of the reeve and clerk of the suid munici pality signed sealed and dlliverin bv henry corko in the presence f lo roy dale henry corke seal j sealed df- livercd and counter mi h honrtwell signed by h h reeve hcnrtwell reeve and f l heath j t j heath clerk lr tho pro i clei k sence of le roy i dale take notice that the foregoing is a true copy of a pioposed by law of tho corporation of tho village of georgetown to be submitted to the votes of tho electors on tho twentieth d iy of may a d 1918 between the hours of nine o clock in the forenoon nnd ave o clock in the afternoon nt the tow n hall in the said village of georgetown and that the thirteenth day of may a d 1918 at ten o clock in the forenoon at the council chamber in the town hall in the said municipal ity has been fixed for the appointment 1 f pet hops to attend at the polllrg places and nt the final summing up of tho votes by the clerk and that if the assent of the ele tors is obtained to the said pro posed by law it will be taken into consldeuitlnn ly the municipal coun cil of tho said corporation at a meet ing thereof to be hold after the ex pliatlon of one month from the dito of tho first publication of this not and that such first publication was mado on tho twehlyfourth day of april a d 1918 and take notice further that a toimnt who desires to vote upon sail pioposed by law must deliver to the clerk not later than the tenth day before the day nppolnted for taking the vote a declaration under the can ada evidence act that he is a tenant whose lease extends for the time for which the debt or liability is to be created or in which the money to be rnised by the proposed bylaw is pay able or for at least twenty one years and that ho has by the lease coven anted to pay all municipal taxes in rosport of tho property of which he is tenant other than local improvement rates f l heath georgetown may 7th 1918 mr j m moore an an item of possible interest to vourself and other readers of your paper i dealt e to state thnt since the fit e at the woollen mills mr henry corke has paid into my hands th sum of 6 000 00 the amount of loan given him andl now hold the same in trust for him yours respectfully j w kennedy corporation treosurer wke fencing i have just iccenod a oai of tho host wiro foniiik obtainable uhich i am piopaiod to sell at a most reasonable price let us fill your order 80 x 81 plain auto tires gua tanteod 8600 miles beg 20 foi 910 50 also tubes oto thos e hewson norval ont