Sec[Section] 1 Be it enacted by the people of the state of Illinois represented in the General Assembly; That Hall Neilson, and his associates, successors and assigns, be, and they are hereby, constituted a body politic and corporate by the name and style of the Mount Carbon Coal Company for the more convenient ownership and mining of coal, and metals and minerals contiguous thereto, in the County of Jackson; and the transactions1 of the usual business of companies engaged in the mining, transporting and selling of coals and the other products of coal mines and the said corporation, by the said name, is declared and hereby made capable in law to sue and be sued to plead and be impleaded to have a common seal, and the same to alter and renew at pleasure to make rules and bye-laws for the regulation and management of said corporation, consistent with the laws of this state, and generally to do and execute whatever by law shall appertain to such bodies politic: Provided that nothing herein contained shall be considered as confering on the said corporation any banking privileges but they shall be exclusively confined to the operations directly necessary for carrying on the mining, coking and transportation of coal, and the construction of the necessary buildings, wharfs and boats; and each and every stockholder shall be, in his individual capacity liable for the debts and performance of all contracts entered into by said corporation, to the amount of the balance unpaid on the stock of such stockholders.

Sec 2 The said corporation shall have the right to hold, possess and enjoy, not exceeding two thousand acres of land; and the whole amount of the capital stock shall not exceed in value the sum of two hundred thousand dollars and shall be divided into four thousand shares; which capital shall be employed in purchasing and holding the lands

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aforesaid, an in constructing or employing buildings, vessels, boats, arks and such other improvements and machinery, necessary or useful for the mining coking and transporting of coalEvery member of the said company shall have a certificate under the seal of the corporation, and made and attested in such manner and form as the bye-laws shall direct, 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 transferable according to such rules as the board of directors shall establish, and no stockholder indebted to the company shall be permitted to make a transfer or receive a dividend untill such debt is2 discharged or securely given for the same to the satisfaction of the directors

Sec 3. For the managing of the affairs of the said corporation there shall be chosen from the stockholders five directors, who shall hold their offices for one year, or untill superseded by others. Thirty days previous notice by publication once a week for one month, in the newspaper in or nearest to the town of Brownsville, shall be given of the first election of directors, and ^there^ shall be annually thereafter a like election at the town of Brownsville. In all such elections for directors each proprietor of shares shall be entitled to one vote for every five shares held by him, which vote may be given by himself or proxey, 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.

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, and at Brownsville, and choose by ballot one of their number for President, who shall serve

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for one year, or untill superseded by a new election; and there shall be annually after the said election, a like election in Brownsville by the directors for the time being, of a President for said corporation. The said directors shall also have power to choose and appoint such other officers and agents to conduct and prosecute the business of the said corporation, as they shall deem necessary and proper; and they shall also have the power, for good cause, to be spread at large, together with the proof in support thereof upon their minutes, to remove the President of said company from officeThe said directors 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 their transactions, as also minutes of the proceedings of the stockholders at each of their meetings; which books may at any time be inspected by any of the stockholders. The said directors shall have power to supply any vacancy which may occur in the office of President, or in their own body; and the President or directors, thus appointed shall hold his office untill the next succeeding annual election for such officers

Sec 5 The directors may, from time to time, at any meeting assess and require payment of such sum of money, not exceeding twenty per cent. upon each share of stock, as shall be judged necessary for the purposes of the corporation; to be paid at Brownsville to such person as the said directors may designate, and authorize to receive the same; and if after publication of notice, once a week for two months, in the newspaper at, or nearest to Brownsville, of the time of payment, and of the person appointed to receive the same, of any property or instalment of said capital stock, any stockholder

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shall fail to pay his instalment, at the time specified in said notice, the amount paid by such delinquent stockholder previously shall be forfeited to the company, his stock may be sold to any person for such price as may be agreed upon between the said company and the purchaser.

Sec 6 Dividends of the nett proffits of the said company shall be made at such times as shall be determined by the stock holders in general meeting; which dividends shall be paid to the persons entitled to the same, on demand made ten days after making and declaring the said dividends. The declaring of said dividends, and their amount, shall be published for three successive weeks, in the same manner as other notices are hereinbefore directed to the published. Whenever said dividends shall exceed twelve and a half per cent per annum, the said company shall pay a tax into the county treasury of Jackson County, to be assessed by the county commissioners’ court of that county.

Sec 7 The stock of said company shall be deemed personal estate, and pass as such to the representatives of each stockholder: Provided, that the real estate which may be held by said corporation shall be sold and conveyed whenever they may deem proper so to dispose of it, according to the forms, and in the manner prescribed by law, the President of said company making the acknowledgment required by law, for and on behalf of the company.

Sec 8 Service of process on the President of said company shall be deemed and taken as sufficient service on the corporation, in any suit which may be instituted against it, and for any violation of the provisions of this act, the said corporation shall be held to answer

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by scire facias in the Jackson County Circuit Court; and if upon the trial thereof it shall appear that such violations have been committed, and it shall be so found, the said court may and shall give judgment revoking this charter; any such proceedings by scire facias for such violations shall be instituted and prosecuted in the name of the people of the state of Illinois against the said corporation.

Sec 9 This act to take effect from its passage, and to continue in force thirty years thereafter; Provided the said Hall Neilson and Thomas Neilson their assigns, successors and associates, under “An act to incorporate the Illinois manufacturing, mining and exporting company” Approved January 28. 1833, file in the office of the secretary of state a written relinquishment under seal of their privileges granted by said act; a certificate whereof shall be issued by said Secretary to the corporation hereby created, without which this act shall not take effect. The said relinquishment shall be so filed on or before the 1^st day of August next.