Powers of trustees. Term of office. President. Restriction. Quorum. Location. Exemption. lars; and also to receive and hold, in their capacity aforesaid, all such bequests, devises, donations and endowments, as from time to time may be made, given, bequeathed, devised or donated, for the use and benefit of the said seminary. § 3. That the trustees shall have power to make all needful rules, regulations and by-laws for the government of the said institution, not inconsistent with the laws and constitution of this state; and shall also have power, in conjunction with a visiting committee, of - -persons, to be appointed by the Methodist Conference in which the said seminary may at any time be included, (the presiding elder of the Peoria district, the stationed preacher in the city of Peoria, to constitute a portion of said visiting committee,) at their annual meeting, to elect a board of instruction to fill vacancies in said board. § 4. The first six trustees above named shall continue in office one year; the second six, for two years; the third six, for three years; and the fourth six, for four years, from the date of the approval of this act; and at the expiration of the first year, as aforesaid, six trustees shall be appointed, and thereafter six trustees shall annually be appointed, in manner following, that is to say: the trustees aforesaid, in office at the time of any election or appointment, shall nominate to the Methodist Episcopal Conference in which said. seminary may be situated, the trustees whose terms of office are about to expire or may have expired, and the said conference may confirm or reject such nomination; and in case of rejection additional nominations shall be made until the whole number of vacancies shall be filled. § 5. The president of said seminary shall, at all times, be a member of some one of the conferences of the Methodist Episcopal Church. § 6. That the trustees or corporation aforesaid shall have no power to sell the property, real or personal, of said corporation, except for the payment of debts and upon the recomendation of the conference within the limits of which the same shall be situated. § 7. That any twelve members of the joint board, as mentioned and described in section three of this act, shall constitute a quorum for the transaction of such business as it contemplated in said section of this act, and that any six members of the board of trustees shall constitute a quorum for the transaction of all other necessary business. § 8. That the said seminary shall be located in the city or town of Peoria, Peoria county, Illinois, upon such ground as the trustees above named shall select; and all the real and personal estate belonging to or to belong to said corporation shall be exempt from taxation for any and all purposes whatever. APPROVED Feb. 17, 1851. AN ACT to provide for the instruction of the Peoria and Pekin branch of the Alton In force Februand Sangamon Railroad. ary 17, 1851. SECTION 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the Alton and Sangamon Railroad company, incorporated by Branch. an act entitled "An act to construct a railroad from Alton, in Madison county, to Springfield, in Sangamon county, approved February 27th, 1847, be and are hereby authorized to lay out and construct a branch of their said railroad, from the most eligible point in the extension of said Alton and Sangamon railroad from Springfield to Bloomington, through Pekin, in Tazewell county, to Peoria, in Peoria county, and for the purposes of such extension said Alton and Sangamon Railroad company shall be and are hereby declared to possess all the powers and be subject to all the restrictions contained in their original act of incorporation and the acts amendatory of the same. § 2. The said Alton and Sangamon Railroad company, Increase of eapfor the purposs of carrying into effect the provisions of the ital stock. foregoing section, shall have the power to increase their capital stock, not exceeding five hundred thousand dollars; also, to increase the number of their directors, not exceeding four, in addition to those already provided for. 3. Previous to the commencement of the construction Additional diof said branch, there shall be elected two additional direc- rectors. tors, one of whom shall be a citizen of Pekin, in Tazewell county, and one of whom shall be a citizen of Peoria, in Peoria county. § 4. Unless said branch shall be commenced within two Commencement years and completed within four years from the passage of and complet❜n. this act, or in case the Alton and Sangamon Railroad company fail to commence and complete the construction of the extension of their railroad from Springfield to Bloomington within three years, the powers conferred by this act shall Forfeiture. become forfeited. APPROVED February 17, 1851. AN ACT to incorporate the Whitehall Male and Female Academy and Orphan Insti- In force Febru tute. SECTION 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the ary 17, 1851. Whitehall Male and Female Academy and Orphan Institute Incorporation. is hereby incorporated, with power to purchase, sell and convey real estate, in the name of the president and trus- Real estate. tees of said academy. Trustees. Oath. President. Officers. Vacancies. Loans. Exemption from taxes § 2. That Timothy Ladd, Anthony Potts, A. S. Seeley, Wilson J. Drish, John Austin, L. E. Worcester, Rescarick Ayres and M. W. Delahay, are hereby created trustees on behalf and for said academy, to have perpetual succession. § 3. The trustees mentioned in section second shall, on the first day of April next, enter upon the duties of their said office, after first taking an oath to faithfully and impartially discharge their duty, which oath shall be recorded in a book and preserved by the said trustees; that said trustees shall, when qualified, proceed to elect, by ballot, a president of said board from among said trustees, who shall hold his office of president for twelve months, and be subject to a re-election by said board on the first Monday of April annually. § 4. That said trustees shall have power to nominate. and elect one secretary and one general agent for said institution, and shall fix the compensation of said general agent. Said trustees shall have full power to employ teachers, prescribe text books, and to make such internal rules and regulations, for the government and control of the pupils and teachers of said academy, as they may deem best for the good order and prosperity of said academy. § 5. That should the trustees aforesaid, or any one of them, die, resign or refuse to discharge the duties of his or their office, then and in that case the said trustees, or a majority of said board, shall elect and fill such vacancy or vacancies by ballot as aforesaid; that a majority of said board shall constitute a quorum for the transaction of all business pertaining to the duties of said board. § 6. The president and trustees shall use a common seal, and they are hereby authorized to borrow money and mortgage the real estate belonging or that may hereafter belong to said academy, for purposes of completing or im proving said academy. § 7. That the president and trustees aforesaid shall have power, in their corporate name, to sue and be sued, plead and be impleaded, answer and be answered unto, in conformity with the laws of this state. § 8. That all property, of whatsoever kind and description, belonging or pertaining to said academy, shall be and forever remain free and exempt from all taxes and assessment for state and county purposes. APPROVED Feb. 17, 1851. AN ACT to establish a private cemetery for the use of the heirs of Billy Ames' de- In force Februceased. ary 17, 1851. SECTION 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the following described piece of land, to wit: beginning at the Cemetery. north-west corner of the west half of the north-east quarfer of section numbered thirty-four, in township No. fortyfour north, of range No. four east of the third principal meridian, running south seven rods, thence east four rods, thence north seven rods, and thence west to the place of beginning, be and the same is hereby set apart as a private cemetery, for the use of the heirs of Billy Ames, deceased. § 2. This act shall be deemed a public act from and after its passage. The land aforesaid to be exempt from taxes, while the Exemption. same shall be used for the purposes aforesaid. APPROVED Feb. 17, 1851. AN ACT to incorporate the Franklin Marine and Fire Insurance Company. In force February 17, 1851. Style. SECTION 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That Cyrus Edwards, Joshua G. Lamb, Simeon Ryder, Sebastian Wise, Corporation. Nathaniel Hanson, Arby Nelson, Thomas G. Hawley, Samuel A. Buckmaster, Henry W. Billings, Orlean M. Adams, John W. Schweppe and Timothy Souther, and their associates and successors, are hereby declared a body corporate and politic, by the name of the "Franklin Marine and Fire Insurance company," to be established in the city of Alton, county of Madison, and state of Illinois; to have continuance for and during the term of fifty years from and Duration. after the passage of this act, for the purpose of making maritime loans and insuring against maritime losses and losses by Objects. fire; with power to sue and be sued; plead and be impleaded; to have and use a common seal, which they may alter or revoke at pleasure; and to make and alter, from time to time, such by-laws, not inconsistent with law or the provisions of this act, as they may deem necessary for the government of said corporation; and shall have power to purchase, hold and convey any estate, real or personal, for the use of said company: Provided, that said corporation shall Proviso. not, at any one time hold real estate, exceeding the value of five thousand dollars, except such as may be taken for debt or held as collateral security for money due the said company: Provided, that said real estate taken as aforesaid Further proviso, Powers. Capital stock. Increase of cap shall be offered at public sale, to the highest bidder, once in five years. $2. The capital stock of said corporation shall be fifty thousand dollars, exclusive of premium notes and profits arising from business, and shall be divided into shares of one hundred dollars each. The said corporation, as soon as the capital is subscribed and twenty per centum paid in and the remainder secured by note based upon bond and mortgage of improved productive real estate, not exceeding two-thirds its value, or by deed of trust of real estate, in the city of Alton, county of Madison, or by government or state stock, at the discretion of the corporation or directors, which said real estate, or any part thereof, shall be sold on thirty days' notice being given, on default of the payment of the said notes, or any portion thereof, that may from time to time be called in, may commence and carry on their business. § 3. The corporation shall have power to increase the ital stock capital stock, at any time hereafter, to an amount not exceeding two hundred thousand dollars, in the same manner as above. Should a majority of the stockholders deem it advisable, and the instalments be called in, as the directors may require, in a notice for the opening the books for subscription for such increased stock, by twenty days' notice in at least one newspaper printed in the city of Alton, and in any other place where such subscription books shall be opened. The said stock shall be deemed personal properTo be deemed ty, and assignable and transferable on the books of the personal prop-corporation; but no stockholder indebted to the corporation shall be permitted to make a transfer until such debt be paid or secured to the satisfaction of the directors. erty. Subscriptions. § 4. The persons named in this act as corporators, or a majority of them, shall be authorized to open books for the subscription to said capital stock, on such days and at such places as they shall deem expedient, and shall give at least thirty days' notice of such time and places, in one or more newspapers published at each of said places. The books shall be kept open until the whole of the stock shall have been taken and one dollar on each share subscribed for shall be paid to the said corporation, at the time of making such subscription; and as soon as said stock shall be subscribed the said corporation, or a majority of them, shall give at least thirty days' notice of the time and place to the stockholders, in a newspaper printed in Alton, for a meeting of Directors. the stockholders to elect seven directors, one of whom shall be president, to manage and conduct the affairs and concerns of the corporation, who shall hold their offices until the day hereinafter fixed for the annual election, and until others are chosen in their places, and no longer, and who Qualifications. shall at the time of their election be citizens of this state |