vided into two hundred shares of one hundred dollars each; which capital shall be employed in purchasing and holding the Capital, how lands aforesaid, and in procuring, constructing, employing, and employed. using, buildings, machinery, teams, tools, and utensils and all things necessary and proper for the manufacturing of meal, flour and lumber, and transportation and sale of the same, and the purchase of corn, wheat, timber, and other materials for the successful prosecution of the object of the company. Certificate of Every member of the company shall have a certificate, under the seal of the corporation, and made and altered, in such manner and form as the by-laws shall prescribe, certifying his property in the share or shares owned by him; and the stock of said company shall, in the nature of personal property, be assignable and transferrable according to such rules as the board of directors shall establish; and no stockholder indebted to No transfer to the company shall be permitted to make a transfer or receive be made till a dividend, until such debt is discharged, or security given for debts are paid the same to the satisfaction of the directors. stock. Stock transferable. to corporat❜n. chosen. SEC. 3. For the managing of the affairs of the said corporaDirectors how tion, there shall be chosen from the stockholders, seven directors, who shall hold their office for one year, or until superceded by others. Ten days previous notice shall be given in one or more newspapers, published in the town of Vandalia, of the First election. first election for directors under this act, and there shall be annually thereafter, a like election for directors, in the town of Vandalia. In all such elections for directors, each proprietor of a share in the capital stock shall be entitled to one vote for each and every share held and owned by him, which vote shall be given either by himself in person, or by his proxy duly authorized under seal, and a majority of the shares shall be necessary to a choice of directors, or the transaction of any business which may concern the company and come before the stockholders. Each share, one vote. Quorum. SEC. 4. A majority of the directors shall form a quorum to transact business, and they shall meet within thirty days from the time they shall have been chosen, at Vandalia, and choose President, by ballot one of their number for President, who shall serve how chosen. for one year, or until superceded by a new election; and there shall be, annually thereafter, a like election in the town of tion, where Vandalia, by the said directors for the time being, of a President for the said corporation. The said directors shall also Secretary and have power to choose and appoint a Secretary, and Treasurer, Treasurer,&c. and such other officers and agents to conduct and prosecute Annual elec held. the business of the said corporation as they shall deem necessary and proper, and prescribe their duties from time to time in such way as said directors may think best. The said diBooks of re-rectors shall cause to be kept duly recorded in books to be provided and kept for the purpose, minutes of all their proceedings, and regular accounts of all their transactions; as also minutes of the proceedings of the stockholders at each of their meetings, cord. which books may at any time be inspected by any of the stockholders. The said directors shall have power, for good cause, to be spread at large, together with the proof in support thereof, upon the minutes aforesaid, to remove the President from of- President fice; they shall have power also to supply any vacancy which may be removed. may occur in the office of President, or in their own body; and the President or Directors thus chosen shall hold his office Term of office. until the next succeeding regular annual election for such officer. SEC. 5. The directors may, from time to time, at any meeting, assess and require payment of such sum of money not Instalments of capital stock, exceeding twenty per cent. upon each share of the capital how called in. stock, as shall be judged by them necessary for the purposes of the corporation, to be paid into the hands of the Treasurer, and if, after publication of notice in a newspaper, once a week for two months, of the time of payment of any proportion or instalment of said capital stock, if any stockholder shall fail to pay his instalment at the time specified in such notice, the When instalamount paid by such delinquent stockholder, previously, shall paid, stock be forfeited to the company, and his stock may be sold to any may be sold. person for such price as may be agreed upon between said company and the purchasers. ments are not made. SEC. 6. Dividends of the nett profits of the said company shall be made at such time as shall be determined by the stock- Dividends, holders in general meeting, which dividend shall be paid to the when and how person entitled to the same, on demand made ten days after making and declaring such dividend. The declaring and amount of said dividend shall be published once or more in the nearest newspaper. SEC. 7. The Treasurer of said company, within thirty days Treasurer to after his appointment, shall enter into bonds for the faithful dis- give bond. charge of his duties, in such amount as shall be designated by the Board of Directors, and with such securities as said board may approve; and all money accruing to the company and falling into the hands of said Treasurer shall be by him de- Moneys, posited in the Vandalia branch of the State Bank, to the credit where deposited by Treaof said company, whenever the same shall exceed one hundred dollars; said money when so deposited shall only be drawn therefrom for the use of said company on a check of Moneys, how the Treasurer, countersigned by the President of the cor- drawn. poration. surer. SEC 8. The stock of said company shall be deemed per- Stock deemed sonal estate, and pass as such to the legal representative of personal. each stockholder: Provided, That the real estate which may Proviso. be held by said corporation shall be sold and conveyed when they may think proper so to dispose of it, according to the forms, and in the manner prescribed by the law conveying real estate; the President of the company making the acknowledgment on behalf of the corporation: And provided, further, Further proviThat the said corporation, during the period of its existence so. Limit of charter. which shall terminate at the expiration of twenty years from the passage of this act, shall not purchase and hold any greater quanty of land than one thousand acres. APPROVED, January 18, 1840. In force, Jan. 18, 1840. er to borrow AN ACT to authorize the county of Jo Daviess to borrow money. SEC. 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the county commissioners' court, of the county of Jo Daviess, may, by an order to be entered upon the records of said court, appoint a comCommission- missioner, whose duty it shall be to borrow such sum or sums of money, as may be necessary to enable said county to complete the new courthouse, in the town of Galena, in said county, and the said commissioner is hereby authorized to Real estate to mortgage any of the real estate of said county, to secure the be mortgaged as security. payment of any sum or sums of money so borrowed. money. facias. Service of writ. SEC. 2. Any mortgage deed, made by such commissioner, under his hand and seal, on behalf of said county, for the purroses aforesaid, duly acknowledged and recorded, shall in all respects be valid and binding upon said county, and shall enable the mortgagee of such deed to prosecute to effect said county for a breach of the conditions of such deed, in the same manner as is pointed out in the 18th section of the act entitled an act concerning judgments and executions, approved January 17, 1825. SEC. 3. In any suit instituted under the provisions of this Writ of scire act, the scire facias required by said [act] to be issued may be left with the clerk of said court, ten days previous to the return day thereof, which shall constitute a sufficient service thereof to authorize the proper court, before which such suit is instituted, to proceed and render judgment according to justice and merits of the case. APPROVED, January 18, 1810. In force, Jan. AN ACT to revive and continue in force an act, entitled "An act to lo18, 1840. cate a certain State road therein mentioned, approved Feb. 27, 1839." SEC. 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That an act, entitled Act revived, an act to locate a certain State road therein mentioned, ap& further time proved February 27, 1839, be revived, and that the period of time allowed the commissioners, appointed by said act, to perform the duties therein assigned them therein, be extended to one year from the passage of this act. APPROVED, January 18, 1840. allowed to locate road. AN ACT to authorize H. H. Gear to keep a ferry across the Mississippi In force, Jan. river. 18, 1840. SEC. 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That Hezekiah H. Gear, of the county of Jo Daviess, is hereby authorized, and licensed to keep a ferry across the Mississippi river, at and from a Location of a point in said river, in the county of Jo Daviess, and oppoferry. site the mouth of "Tete de Mort," in the territory of Iowa; and the said Gear, his heirs and assigns, shall have the right of having, maintaining, and using a ferry across the said river, at the place before mentioned, and to have and receive all advantages and emoluments arising from the use of said ferry, for and during the term of ten years: Provided, however, That Proviso the county commissioners' court, of the county of Jo Daviess shall have the right to assess an annual tax upon the said ferry equal to that levied upon other ferries severally situated in said county. APPROVED, January 18, 1840. AN ACT to amend an act, entitled "An act to incorporate the Rock Island In force, Jan. Mutual Fire Insurance Company." 18, 1840. SEC. 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the said corpora- Further powtion, in addition to the powers heretofore granted, by the act ers granted to to which this is an amendment, are hereby authorized to take corporation risks, and effect insurances, on all classes of personal property within the limits of this State. APPROVED, January 18, 1840. AN ACT to amend an act to incorporate Knox Manual Labor College. In force, Jan. 18, 1840. SEC. 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the period of three years, allowed to the Trustees of Knox Manual Labor College, by the ninth section of the act, to which this is an amendment, for holding donations, grants, or devices in lauds, be, and the same is hereby extended to seven years, in addition to ing lands the aforesaid period of three years, any thing in said section changed to 7 to the contrary notwithstanding. APPROVED, January 18, 1840. Time of hold years In force, Jan. AN ACT to establish Insurance Offices in Morgan, Pike and Scott counties. 27, 1840. Insurance SEC. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the following privileges and powers are hereby conferred upon and granted powers grant to the Winchester, Lynnville and Jacksonville Railroad Company, incorporated by an act passed on the eighteenth day of January, in the year eighteen hundred and thirty-six. ed. First. To use the stock and effects of said company, in the business of insurance, and to become to all intents and purposes an Insurance Company. Second. To establish and keep in operation, insurance Location of offices in Jacksonville and Winchester; all the business and operations of the company, to be under the direction of the rectors as heretofore. offices By-laws to be changed Third. To change the by-laws of the corporation, so as to make them applicable and appropriate to the business and operations of an insurance company, and to make such adAdditional by ditional by-laws, not inconsistent with the laws of the land, as may be found necessary to carry on the business of the laws Exception company. SEC. 2. Said company shall be authorized to make insu rances upon vessels and their cargoes, or either, navigating the high seas or the lakes, and upon vessels and boats of any description and their cargoes, or either, navigating rivers and canals: to make insurance upon houses, mills and other buildings, (excluding distilleries) goods, chattels, wares, and merchandize, money, and every description of property usually insured by other companies in the State; also upon bottomry, loans, and upon lives, and also to cause itself to be re-insured against all risks or perils upon which it may have made insurance, and to make advances of money upon bottomry and respondentia, upon such terms as are authorized by the existing laws of this State. SEC. 3. The directors shall prescribe in their by-laws the Policies of in- manner of executing their policies of insurance; the terms of insurance shall be such as may be agreed upon, as well as the provisions and times of payment. surance Stockholders liable SEC. 4. The stockholders shall severally be held liable to creditors, for the amount of stock subscribed. The liabilities of the company shall never exceed the amount of subscriptions of stock, and for all excess of liability the direcWhen Directors under whose authority or by whose permission such extors shall be cess may arise, shall be jointly and severally liable for the liable same. SEC. 5. The real estate now owned by the company, Capital stock shall be held as capital stock at its cost, and the company shall not hereafter purchase or hold any other real estate in fee simple, except one town lot in Jacksonville and one in Winchester, on which to erect the buildings necessary to the transaction of its business: Provided, however, that in cases Proviso |