exempted from all taxation of every kind, except as herein provided for. The revenue arising from said taxation, and the said five per cent. of gross or total proceeds, receipts or income aforesaid, shall be paid into the state treasury in money, and applied to the payment of interest-paying state indebtedness, until the extinction thereof: Provided, in case the five per cent. provided to be paid into the state treasury, and the state taxes to be paid by the corporation, do not amount to seven per cent. of the gross or total proceeds, receipts or income, then the said company shall pay into the state treasury the difference, so as to make the whole amount paid equal at least to seven per cent. of the gross receipts of said corporation.

§ 23. This act and all grants herein contained, shall cease and be void, unless accepted by said company with- Acceptance of in sixty days after the passage of this act; and immediately this act. on such acceptance, made in manner above provided, the deed in fee simple, and the deed of trust aforesaid, shall be made as above provided. All the grants herein contained shall cease and be void unless said road and branches be surveyed and located, and work on the main trunk actually begun, before the first day of January, 1852.

24. The state shall have a prior lien upon said road Prior lien of the and branches, and all the appurtenances and stock thereof, sate. for all penalties, taxes and dues, which may accrue to the state from said corporation, as herein provided; which lien of the state shall take precedence of all demands, judgments or decrees against said corporation.

§ 25. That each and every person, who, on the twentieth day of September, one thousand eight hundred and fifty, was the owner of any improvements made previous to that date, on any lot of land conveyed to the said company, and who became such owner with a view to a residence on, or occupation of such lot of land for agricultural purposes, shall have the right to purchase, at not exceeding two dol- Pre-emptions. lars and fifty cents per acre, a quantity of the lot so owned, to be bounded by the legal subdivisions, not exceeding one quarter section, to consist of the quarter quarter, half quarter or quarter section, which will include the improvement aforesaid: Provided, that any person claiming the right to Proviso. purchase under the provisions of this act, shall, within three months from the date of selecting the lands, file in the clerk's office of the circuit court of the county in which the land claimed is situated, a notice to the said trustees and corporation, of his, her or their claims, describing the land by its numbers, accompanied with an affidavit, stating the date and object of the improvement, the time and manner when and how he, she or they, became the owner thereof, and also the affidavits of at least two residents of the coun

ty, proving the facts in relation to such claim: And proviFurther proviso ded, further, that the right of way upon and across any lot of land sold under the provisions of this section, not exceeding two hundred feet in width, shall be reserved and retained for the passage of the road, as the same may be located and constructed, and any person claiming the right to purchase as aforesaid, shall, within twelve months from the date of commencing work on the road within the county in which the land is situated, pay the said trustees or the corporation the consideration money for the land claimed ; ; which payment shall entitle him, her or them, to a deed conveying an estate in fee; but in case of failure to make such payment, the right to make the purchase shall cease. When two or more persons claim the right to purchase the same lot of land, and file the proof of ownership as herein required, the person proving the first residence by himself, or those under whom he claims the improvement, shall have the right to make the purchase, but no sale or conveyance of any lot of land under the provisions of this section shall effect the rights or equities of parties claiming the same, as

cept provisions of act.

between each other.

§ 26. In case the persons incorporated by this act shall Failure to ac-fail or neglect to accept the provisions of the same, and comply with its conditions within the time and in the manner herein prescribed, then the same may be accepted by any other company which shall be approved of by the governor, auditor and treasurer of this state; who, upon complying with the terms and conditions of this act, shall be vested with all the rights, powers and immunities conferred upon the corporators herein named, and shall be subject to all the liabilities in the said act set forth, in as full, ample and complete a manner as if their names were inserted as corporators in this act.

27. This act shall be deemed a public act, and shall Aet to be deem- be favorably construed for all purposes therein expressed, ed public. and declared in all courts and places whatsoever, and shall be in force from and after its passage.

APPROVED Feb. 10, 1851.

AN ACT for the relief of William C. Kinney.

In force Feb.10, 1851.

lien.

SECTION 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the N. E. of Sec. 24, T. 1 N., R. 8 west, containing 160 Release from acres; also W. side of Sec. 19, T. 1 N., R. 7 W., containing ten acres, in St. Clair county, be and the same are hereby released and discharged from the operation of the lien acquired by the state by virtue of a sale and purchase made by the state on the 28th day of March, A. D. 1846, upon an execution in favor of the people of the state of Illinois, and against William Kinney, deceased.

§ 2. That the governor of the state be and he is hereby Discharge. authorized and empowered, upon the payment to him by the said William C. Kinney, his executors, administrators or assigns, of the balance due upon said debt, and the interest accruing thereon, in one year after the expiration of an act, approved February 11, 1847, for the relief of the heirs of William Kinney, deceased, to release, discharge and transfer all rights, title, interest or claim which the state may have in and to the lands, by virtue of the sale and purchase mentioned in this act.

APPROVED February 10, 1851.

AN ACT entitled an act to extend the Alton and Sangamon Railroad company, in- In force Feb.11, corporated February 27, 1847.

1851.

Extension of

road author

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 an act entitled "An act to construct a railroad from Alton, in ized. Madison county, to Springfield, in Sangamon county,' approved February 27, 1847, be and are hereby authorized to extend their said railroad, and to construct an extension of the same from Springfield, in Sangamon county, (upon the most eligible route) to Bloomington, in McLean county, and for the purposes of such extension said Alton and Sangamon Railroad company shall be and are hereby declared Powers. to possess all the powers, and be subject to all the restrictions, contained in the original act of incorporation, and the acts amendatory of the same.

§ 2. The said Alton and Sangamon Railroad company, Increase of capfor the purposes of carrying into effect the provisions of the ital stock. foregoing section, shall have power to increase their capital

stock not exceeding one million of dollars.

Commencement

of extension.

§3. Unless said extension shall be commenced within two years and completed within six years from the passage of this act, the benefits and provisions of this amendatory act shall be forfeited.

AFROVED February 11, 1851.

In force Feb.11, AN ACT to incorporate the Mount Carroll Mutual Manufacturing and Hydraulic 1851.

Corporation.

General powers.

Real estate.

Capital stock.

Exclusive privilege of sub

scribing stock.

Proviso.

Shares to be transferable.

company.

SECTION 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That John Rinewalt and Nathaniel Halderman, of Carroll county, and their successors in office, be and they are hereby constituted a body politic and corporate, by the name and style of the "Mount Carroll Mutual Manufacturing company," and by that name and style they and their successors shall have perpetual succession.

§ 2. The said corporation shall be capable of suing and being sued, pleading and being impleaded, answering and being answered unto, in all the courts of this state, and they may have a common seal, and alter and change the same at pleasure.

§ 3. The said corporation shall be capable of purchasing and holding any real and personal estate necessary to promote the objects of said corporation, and of conveying said real estate at pleasure; provided that they shall not at any one time hold more than six hundred and forty acres of land.

§ 4. The capital stock of said company shall be forty thousand dollars, divided into four hundred shares of one hundred dollars each, but the said corporation shall have power to increase their said capital stock to any sum not exceeding two hundred thousand dollars.

§ 5. The said John Rinewalt and Nathaniel Halderman shall have the exclusive privilege of subscribing for the whole amount of the capital stock of said corporation : Provided, that said privilege shall not extend to any increase of the said capital stock as provided in section fourth of this act.

§ 6. 6. The shares in said corporation shall be deemed personal property, and shall be transferred as such, but no transfer shall be valid until registered in a book to be kept by the company for that purpose; and the said John Rinewalt and Nathaniel Halderman shall respectively have the right to sell or transfer their respective shares, or any part thereof, in the said corporation. No sale or transfer of any

share or shares shall be valid until all calls due have been paid.

§ 7. The said John Rinewalt and Nathaniel Halderman are hereby constituted the directors of said corporation, and they shall hold their said offices respectively until they or either of them shall have transferred one fourth part of the shares of the capital stock of said company.

Directors.

§ 8. Whenever one fourth part of the shares of the Election of officapital stock of said company shall have been transferred, cers. it shall be the duty of the directors of said company to call a meeting of the shareholders, for the purpose of electing a treasurer, clerk and three directors, by giving notice in some public newspaper thirty days previously-such notice specifying the time and place of such meeting. Every shareholder shall be entitled at such meeting, and at all other meetings of the stockholders, to one vote for each share he, she or they may own at the time, and such vote may be given by proxy. All the elections by the stockholders shall be by ballot.

election.

§ 9. The said directors, or one of them, shall be pres- Inspectors of ent, shall be inspectors or inspector of said election, and shall furnish to the persons elected a certificate of election, which certificate shall be conclusive evidence thereof: and the directors so elected shall, within ten days thereafter, proceed to choose one of their number as president. The treasurer so elected, and other officers of the corporation, Treasurer. shall, before entering on their offices, give bond, with security, as the directors may deem necessary, for the faithful performance of their official duties, with such conditions ast the directors shall prescribe.

§ 10. The time for the annual meeting for the election Time of annual of directors, treasurer and clerk shall be the first Monday meeting. of the month in which the first election of said officers shall happen, as hereinbefore provided, and notice thereof shall be given in some newspaper thirty days previously: Provided, that an omission to hold such annual meeting, or to elect any officer of said company, shall not work a forfeiture of their charter, or a dissolution of said corporation.

§ 11. Any vacancies in the office of treasurer or clerk Vacancies. may be filled by appointment by the directors, to continue until the next annual meeting for the election of officers, and until a successor is elected and qualified.

mill.

§ 12. The said corporation may own the merchant flour- Corporation may ing mill, and the water and steam power thereunto belong- own flouring ing, located near the town of Mount Carroll, in Carroll county, with such other improvements belonging thereto, and have power and are authorized to carry on the manufacturing of flour, wool, cotton, hemp, machinery, iron, lumber and for any other species of manufactures they may think proper, to establish and to erect all necessary build