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balance shall be found due any engineer, the said board shall issue their draft for such balance on the Fuad Commissioner as required by the third section of this act.
Approved, February 26, 1841.
An ACT to provide for the payment of certain debts due from the State to the Banks.
In force, Feb.
26, 1841. Sec. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That it shall be the duty State o of the Auditor, Treasurer, and Secretary of State, to make to make setsettlement with the Bank of Illinois, in relation to claims and tlement with demands which said bank may have against the State, for bank advances heretofore made by the said bank, to the use of the State on account of the State House, Fund Commissioners' drafts on account of Internal Improvements, and other liabilities.
Sec. 2. After the settlement herein provided for, and after the scttlement provided for sby] law with the State Bank, Auditor to isit shall be the duty of the Auditor to issue his warrant on sue warrant to the treasurer of this State, for the payment of whatever bal-banks. ance may be found duc to the Bank of Mlinois, and the State Bank of Illinois, which warrants shall bear interest at the Redemption rate of six per centuin per annum, payable semi-annually, of warrants. and reimburseable at the pleasure of the State after the year eighteen hundred and Gifty.
SEC. 3. The warrants hereby authorized to be issued, Warrants not may be made in such sums as may be required by the said less than $10,banks, or either of them, not less than ten thousand dollars; 000. said Wirrants shall be countersigned by the Secretary of State and shall have the seal of State affixed thereto, the performance of which requisite shall be deemed a good and va. lid execution of the powers herein granted, and by which the Faith of State faith of the State of Illinois hereby is declared to be pledg- pledged ed for the reimbursement of the principal and interest due on said warrants.
SEC. 4. It may be lawful for the said banks respectively upon the sale of said warrants, io guaranty the payment of the Interest acinterest upon the same, and keep an interest account against count. the State, for such interest advanced as aforesaid, and the faith of the Statc is hereby pledged irrevocably for the reimbursement of the principal and interest of the liabilities hereby authorized to be created.
Approved, February 26, 1841.
An ACT to amend an act, entitled “An act in relation to the State Bank In force Feb. of Illinois," approved, January thirty-first, one thousand eight hundred
27, 1841. and forly.
Sec. 1. Be it enacted by the People of the State of Illinois,
represented in the General Assembly, That so much of an act, Act requiring entitled “An act in relation to the State Bank of Illinois," Branch' Bank at Chicago re. approved, January thirty-first, A. D. onc thousand eight moved, re hundred and forty, as requires that the directors of the papealed. rent Bank shall within six months from the passage of said
act, remove from Chicago the branch located at that place, Branch resto- and establish the same at such other place as the bank may red.
deem proper," be and the same is hereby repcaled, and the said bank is hereby authorized to relocate said branch at Chicago
Approved, February 27, 1841.
An ACT concerning the State Bank of Illinois. Iu force Feb. 27, 1841.
Sec. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the twenty-fifth
section of an act entitled "An act to incorporate the subscri35th section
bers to the Bank of the State of Illinois," approved, February repealed. twelfth, one thousand eight hundred and thirty-five, be and
the same is hereby repealed, and any forfeiture which may
have accrued under the provisions of said section is hereby Proviso.
set aside: Provided, That when said bank shall resume specie payments for its evidences of indebtedness, if at any time after such resumption, the bank shall again suspend such payment for a longer period of time than is now allowed by its charter, then and in such case the General Assembly shall have the power to declare said charter forfeited.
Sec. 2. The said bank is hereby authorized to receive Interest al
interest at the rate of seven per centum per annum, on al! lowod.
loans or discounts made by said bank for any period of time not exceeding six months; and for any longer period of time, the said bank is authorized to receive interest upon the same at the rate of nine per centum per annum.
Sec. 3. The said bank is hereby authorized to issue notes Small notes. of the denomination of one, two, and three dollars until the
first day of January, A. D. one thousand cight hundred and Proviso.
forty-threc, but not after that period: Provided, however, That the bank, in order to avail herself of the benefits of the foregoing provisions, shall agree to and conform with the following conditions, to wit: First. The said bank shall not directly
or indirectly, during its suspension of specie payments sell, or
te of in any manner dispose of any of its specie,or gold or silver bul. apocio.
lion, except for the purposes of change to the amount of five Notes in oir-dollars, or under the sum of five dollars. Second. That it will oulation. neither directly nor indirectly issue, or put in circulation du
ring the period of its suspension of specie payments, any bank
bills or evidences of indebtedness by which its circulation will be increased beyond the amount of the capital stock actually paid in. Third. That it will receive upon deposite any funds belonging to the State which may be required to be so deposit- Shall receive ed, and pay the same out upon the order of the proper officer money. or agent of the State, in kind, and free of charge. Fourth. Purcha That it will purchase of the State six per cent. bonds at par, bonds. as follows, viz: on the first day of July next, fifty thousand dollars; on the first day of January, one thousand eight hundred and forty-two, fifty thousand dollars; on the first day of July, one thousand eight hundred and forty-two, fifty thousand dollars; and on the first day of January, one thousand eight hundred and forty-three, fifty thousand dollars; and the purchase money of such bonds shall be advanced at the abovementioned periods, by said bank, and applied exclusively to the redemption of bonds heretofore hypothecated by the Fund Commissioners, and to the payment of interest due on State indebtedness other than to said bank. Fifth.
That during the time of the suspension of specie payments, by said bank, the citizens of this State, who are indebted to
Per cent. on it on notes heretofore discounted, shall be allowed to pay for their debts in instalments at the rate of ten per cent. upon each, and every renewal of the amounts now due, upon condition that such debtor shall execute new notes, with satisfactory security, and pay the aforesaid per cent. and the interest in advance according to the usages of banking.
Sec. 4. Hereafter no director of said bank, or firm with which he, or the president thereof may have been connect- Liability of
ino, directors. ed, shall become liable to the institution, either as principal or security for more than five thousand dollars at any one time. Sec. 5. Whenever said bank shall accept the provi
Acceptance sions of this act, the president thereof shall file in the office of act! of Secretary of State a certificate of such acceptance under the corporate seal of said bank, and from the time of filing such certificate the bank shall be entitled to the benefits of this act, and bound by all thc conditions herein contained.
Sec. 6. The provisions of the second section of this act shall be applicable to the Bank of Illinois, if within sixty days from Bank of
nois. the passage of this act she shall, in the manner pointed out" in the fifth section of this act, signify her acceptance there. of, and the said two banks shall also enter into bond with the Acceptance. Auditor of Public Accounts, for and on behalf of the State, File Bond. that during their present suspension of specie payments they will not declare any dividends to private stockholders, Dividende. but that the same shall be retained in such banks for the use of said private stockholders, and that they will also declare the just and proper dividends on her stock to the full amount On state stoc of the same, and the portion thereof due upon the one hundred thousand dollars subscribed for under the act of March second, one thousand eight hundred and thirty-seven, shall be
paid over to the Treasurer of the State when the same becomes duc, and the amount thereof due on account of the
bank and internal improvement stock, shall be paid over to To Fund com- the Fund Cominissioner as the same shall become due; and missioner. the said banks shall resume the payment of specie upon their
evidences of indebtedness when the banks of the West and When bank shall resume.
* South-west shall generally resume the payment of specie for
their evidences of indebtedness: Provided, That the thirty-first section of an act entitled, "An act to incorporate the subscribers to the Bank of the State of Illinois," approved, February twelfth, one thousand eight hundred and thirty-five, be and the same is hereby suspended until said bank resumes specie payment.
Sec. 7. The said banks shall hereafter pay a bonus of Bonus
one half of one per cent. per annum upon all bank stock now owned by the State, or hereaster to be owned, to the Fund Commissioner.
Approved, February 27, 1841. %
An ACT entitled An act authorizing the erection of a Bridge across In force Jan.
the Saline River. 7, 1841.
Sec. 1. Be it enacted by the People of the State of Illinois,
represented in the General Assembly, That the county comBridge across missioners' court of Gallatin county and their successors in Saline river.
office, are hereby authorized to cause a bridge to be erected across the Saline river, at or near where the State road lead. ing from Golconda to McLeansborough, in Hamilton county, crosses said river.
Sec, 2. Said bridge is to be built a sufficient heighth and Construction the bents a sufficient width apart so as not to obstruct the of bridge, navigation of said river. This act to take effect from and after its passage.
Approved, January 7, 1811.
ing is the sale by authallatin
AN ACT to build a Bridge across Macoupin creek, in Greene county. In force Jan. 31, 1841. SEC. 1. Be it enacted by the People of the State of Ilinois,
represented in the General Assembly, That it shall be the duty Com. to build of the county commissioners' court of Greene county, to bridge cause to be erected across the Macoupin creek in said county,
at the point where the road leading froin Carrolton to Kane (which may be located by A. Hinton, William Coulton, sen.
and Mr. Paine, reviewers appointed by said court to view, Location mark and locate said road,) crosses said creek, a good and
substantial bridge, free of charge for the accommodation of the public.
Sec. 2. William Carlin, of said county, is hereby apAgent, &c. pointed agent to carry into effect the first section of this act,
W..ose duty it shall be to contract with some responsible per.
son or persons immediately to build a bridge across the Ma. coupin creek as aforesaid. The bridge shall be as Lear as practicable, built after the model of the bridge across "Wood Model river” in “Madison county," the cost of which shall not ex. . ceed ten thousand dollars, and shall be completed within twelve months from the date of the contract, and shall be paid for in the following instalments, to-wii: one-fourih in Times of paysix months, one-fourth in twelve months from the date of the contract, and the balance in two equal instalments in six and twelve months after the completion of said bridge. It is further made the duty of said agent to take bond with good
To give bond and sufficient security for the faithful performance of the contract, and with a penalty sufficient to secure the completion of the work.
Sec. 3. It shall be the duty of the county commissioners to cause to be collected, in any manner they may think best, bridge a sufficient sum out of the internal improvement fund which do yo was donated to said county by an act entitled “An act to BEL establish and maintain a general system of internal improvements,” to carry into effect the first section of this act; and a sum sufficient to construct said bridge is hereby appropriated out of said fund.
1 sswil SEC. 4. If the agent appointed under the second section Agent being of this act shall refuse to act, die, resign or remove, it shall disqualified,
coni’rs court be the duty of the county commissioners to appoint another may appoint. person immediately, who shall forth with enter upon the du ties of his oflice. The agent appointed by this act, or by the court, under the provisions of this act, shall receive for his services such compensation as the county commissioners Compensamay think reasonable and just. This act to take effect from tion of agent. and after its passage. Approved, January 31, 1841.
An ACT to authorize the building of a Toll Draw Bridge across the Calumet River.
In force Feb.
17, 1841. Sec. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That George Dalton, his associates and assigns, are hereby authorized to build a toll draw bridge across the Calumet river, in the county of Cook, Location. in the State of Illinois, on the south-west quarter of section thirty-four, in township thirty-seven, north of range fourteen, p. east of the third principal meridian: Provided, The said Dalton shall be the owner of the said quarter section: And provided, Said bridge shall not impede the navigation of said river.
Sec. 2. The rates of toll for passing over said bridge shall be as follows: for every double wagon, carriagr or sleigh, the sum of twenty-five cents, for every one horse rehicle or horse and rider, the sum of twelve and a half cents, for each horse, mule, ass, or head of neat cattle, the sum of two cents, and for each head of hogs, sheer, goats, or other animals not enumerated, the sum of one ceut.