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and whose duties shall be defined and prescribed by the bylaws of the corporation; and said trustees shall also appoint such agents and other persons as may be necessary to conduct the proper business, and accomplish the declared objects of said corporation, and shall likewise have power to fill any vacancy occasioned by the death, resignation or removal of any officer of said corporation.
Sec. 10. This act shall be construed as a public act, and Act deemed continue in force for the' period of twenty years; and thePubli° trustees appointed under the provisions of this act shall hold their first meeting at the city of Nauvoo on the first Monday of April, A. D., one thousand eight hundred and forty-one. '- if ;:• :j •.., .';. Approved, February 27, 1841. -ri> 73-.i.'9!!f .ic 89-:dj i *:£r,j ,.:i,- .
An ACT to incorporate the Rock River Navigation Company. .,.. ., ,:' . ..-. | In force Feb.
Sbo. 1. Be it enacted by the People of the State of Illinois, 27'1841, represented in the General Assembly, That all persons who shall become stockholders under the provisions of this act, are hereby created a body politic and corporate, and shall have existence for and during the full end and time of fifty years from and after the passage of this act; and shall be Name 4. ityl* known by the name and style of the "Rock River Navigation Company," for the purpose of improving the navigation of said river, by completing the improvements already commenced by the State on said river, In any way they may deem most advisable, at the Lower Rapids of said river, in Rock Island county, at the Upper Rapids in Whiteside county, and also the improvement of the rapids at Rockford in Winnebago county, and for the purpose of removing such obstruction to the navigation of said river as said company may think most conducive to the public interest, at all points between the junction of said Rock river with the Mississippi and the northern boundary of the State of Illinois on said river, by building dams, locks, canals, and the creation of slack water navigation. "r n' • V
Sec. 2. That said stockholders and their successors, by Corporate the name and style of the "Rock river navigation company," powera shall have power to contract and be contracted with, and be capable in law and equity to sue and be sued, to plead and be impleaded, to answer and be answered unto, to defend and be defended, in all courts and places, and in all matters whatsoever; said corporation may have a common seal, which they may alter and change at pleasure. --,i
Sec 3. The capital stock of said company shall be two Capital nock hundred and fifty thousand dollars, and to be divided into shares of one hundred dollars each; and said capital stock may hereafter be increased to, any. amount not exceeding four hundred thousand dollars, should the stockholders deem
the same riecewaryv and to beiby them expended ia improving the navigation of Rock river, in the erection of mills, buildings, mechanical works, and the building of boats adapted to the navigation of said river, when and: where, on or near said river, the said stock holders shall deem the same useful or necessary:, and the said capital stock, or, the shares thereof, shall beheld and considered:as.personal property. Subscriptions Sec 4. Books for the subscription to the'capital stock ..; •.,.. of saidi company^ shall foe opened on the first Monday in June, one thousand eight hundred and fortyione, and continue opem for at least two days, at Rockford, in Winnebago county, at Dixon, in Lee county, and a^.Stephensou ih Rock Island coutttyi aftergiving at least thirty days' notice of the time and place of opening said books in three of the newspapers published in this State, and nearest to the place of receiving said subscription; and should the whole of the capital stock of said company not be subscribed for at the time ,.„1 -j-.t land places beforementioned, then the commissioners hereinafter named^or the president and directors hereafter created, shall have power to adopt such measures for the further disposition of said capital stock as to them shall seem most advisableyand thesum of five dollars on each and every share of said stock shall be paid at the time of subscription, and ftrt. J ttne res>due at such times and in such instalments as the preBb^nbe8t°Qr_sident and boardof directors hereinafter created shall call feited for the same,and unless the instalments shall be s»|said when
called for by said director?, said stockiso subscribed for shall be forfeited to said company< •: .(':c . '.;.,> •': Com'rsto su- . Sew 5. S. M.-.Cjh&rch, of- Rockford^ L. Andrews, of perintendsub-Grand de Tour, John DementandSamuelM.Bowman, of Dixscriptions ^ Nelson Mason, of Sterling, in Whiteside county, and Silas Read, of Stephenson j.^re hereby appointed commissioners to superintend the subscription to the capital stock of the company hereby created, and as soon as: twelve hundred and fifty shares of said.Stock shallhave been subscribed for, and the first instalment of five dollars as aforesaid; shall have been paid in, the commissioners, or a majority of them shall Election cf give public notice that an election will be: held-in the town of lrectors Djxon by said stockholders, abw-bicb election tlfc said commissioners shall be judges for the-purpose of electing seven directors tomanage the affairs of.said company*n Each share shall be entitled to one vote^ which may be given in person or,by proxy, and the seven persons voted for who shall have the' highest numbers of votes," shall bfe duly elected, and shall be directors of said company, until others are elected and qualified, and theaaiddirectorsso elected shall choose o' -! ijioone oftheir number aspreside*t of said;company, and shall have power to appoint such other officers and agents as they may deem necessary for the good management of ther business, and the said commissioners shall certify to the names of those thu& elected ndwectoTsf^ritod shall deliver over to them all subscription moneys, books, papers, &c, and shall appoint the time and place of holding their first meeting.
Sec. 6. And for the purpose of more fully and complete- sub8Cnptions ly attaining the object in the creation of this company, the may bereceidirectors thereof shall have power to receive in payment TMd in part in for one-half of the subscription to the capital stock, bonds n^,^^, and mortgages bearing seven percent, interest annually, on unencumbered real estate in this State, at one-half of its appraised value, which value shall be ascertained by three sworn and disinterested persons who shall be appointed by the circuit judge of the district in which said lands lay, and to ob- « n ■"' tain a loan to the amount of the capital stock paid in, in money, and bonds or mortgages, and to pledge the same, together with all its improvements for the faithful repayment thereof.
Sec. 7. The management of the affairs and business of said company shall be by a board of directors chosen annu- Directorschoally, and who shall hold their office for one year, and untilsen annual'y their successors are duly elected and qualified; and the board of directors shall have power to make and establish such bylaws, rules and regulations for the government of said company, and the management of its business, as to them shall ' »->>'oV. seem most proper and expedient: Provided, the same is not in proTj80' violation of the laws and Constitution of the United States or of this State or of the provisions of this act: And Provided,also, ^""her pro" That the said company shall not at any one time acquire and hold more than the amount of three sections of land.
Sec. 8 To enable the stockholders of this company to Obstructions, become fully and completely entitled to all the benefits and to be removed provisions of this act, they shall, within the period ol five years 1U Jears from and after the passage of this act, so far improve and overcome the obstructions to the navigation of Rock riveratthe rapids thereof near its mouth, at the Upper Rapids in Whiteside Bn,\i,n; county, and at the Rapids at Rockl'ord, in Winnebago coun- , ty, either by dams and locks, or canals, as to afford a complete passage to all steam boats or other water craft drawing less than three feet water, and during the progress of these improvements, no construction of this act shall debar said company from all the benefits which may arise therefrom, and when the same shall be created by the operations of the said company, they shall have the sole right and power to use, dispose of or lease all the water power arising therefrom, and in case said improvements as above specified *
lay out of repair at any one time, making due allowance for extraordinary accidents, for the, period of three months, then all rights herein granted shall become forfeited.
Sec. 9. The State of Illinois hereby reserves to itself thejiRighta tenerrright to resume the control of the improvements on said riv- ed er, together with all the privileges thereunto belonging at any time after the expiration of twenty years from and after the
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paying to the stockholders of said company the cost of the same, with interest at six percent. per annum from the completion of the said improvements, and the said company is hereby required to keep a true and accurate account of all expenditures made on said improvements, and on or before the first day of January of each year, to file in the Auditor's office of this State, a true and correct copy of all expenditures so made,attested by the oath of the president of said company.
Sec. 10. The State of Illinois, for and in consideration of •tockbolder * moneys expended by the State on said river heretofore, for the improvement of the navigation thereof, and for the purchase of land whereon to make the same, is hereby made a stockholder to the just and full amount of four hundred shares, which shall form a part of the twelve hundred and fifty shares heretofore mentioned, and all the use and benefit of said improvements and expenditures, as well as all rights and privileges heretofore acquired by the State, are hereby transferred to said company whenever the said company shall organize as aforesaid; and it shall be the duty of the . aforesaid commissioners or directors, to give the Governor of
rernor.'° °" this State not less than fifteen days'notice of the time and place of holding all elections, and it shall be his duty forthwith to appoint some suitable person as a director, whose du.'. ty it shall be to represent the stock owned by the State in said company, and he shall be eligible to any office or privilege at said board. To commence Sec. 11. The company hereby created shall be required in 12 months to commence the improvements on Reck river within twelve months after their organization as aforesaid, and shall expend thereon not less than the sum of five thousand dollars within two years therefrom. Lands may be Sec. 12. And whenever it shall become necessary for said taken company to enter upon and take possession of any land ne
cessary to the creation and maintenance of the slack water navigation of said river, said land shall be paid for by said company, at such prices as may be agreed upon by said company, and the owner or owners thereof; and in case of disagreement the price thereof shall be recovered in the manner provided by the laws of the State for the recovery of damages arising by laying out of highways.
Rates of toll ^ec !?• It shall be lawful for the Rock river navigation company hereby created, from time to time, to fix and regulate uniform rates of tolls on all boats or water craft that may pass the improvements made by said company, and the amount to be charged as tolls at each lock on the different
. - M . boats or water craft aforesaid, to be as follows, to wit: For steam boats, barges or keel boats, forty cents per ton, United States' measurement; for each flat boat less than forty-five feet in length, three dollars; for each flat boat more than forty-five feet in length, and less than ninety feet in length,
five dollars; for each raft of timber, plank or other lumber,
Sec. 14. It is hereby further provided, that the stockhold- Stockholder! ers of said company shall have the right (o purchase the in-j^mSt'of*'* terest of the State as a stockholder in said company, by pay-state ing the subscription price thereof, and whenever the stockholders shall desire so to do, the Governor of this State is hereby authorized to sell and transfer the same to said stockholders, if he shall deem such sale for the best interests of this State and not otherwise.
Approved, February 27, 1841.
An ACT to incorporate the Cuiro City Mills. jn fOTCe peo#
27,1841. Sbc. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That Henry Eckford, Oliver Clark and Henry W. Bissings, and all such persons as shall become subscribers to the stock hereinafter described, shall be, and they are hereby constituted and declared a body corporate and politic, by the name and style of the "Cairo Name &. style City Mills," from and alter the passage of this act; and by that name, they and their successors shall have succession, and shall in law, be capable of suing and being sued, pleading and being impleaded, in all courts and places whatsoever; may have acotr.mon seal alter and change the same at their corporate pleasure; and they and their successors may also, by that powers. name and style, be capable in law of contracting and being contracted with, of purchasing .holding and conveying away real and personal estate, for the uses and purposes of the said corporation as hereinafter limited.
Sec. 2. The president and directors of said company, hereinafter provided for, shall have power and are hereby ergr er pow" authorized to carry on the manufacture of the agricultural products of the country, to erect mills, machines, works, and such other buildings, as may be necessary to carry on their business, and enter into all contracts which may concern the use and management of the property, affairs, and interests of the said company.
Sbc. 3. The capital stock of said company shall consist Capital stock of one hundred thousand dollars divided into shares of one hundred dollars each.