An act to incorporate the Alton Hotel Company.

Sec[Section]. 1. [ ?] Be it Enacted by the people of the State of Illinois Represented in the General assembly: That Benjamin Godfrey, Stephen Griggs, Calvin Riley William Manning Jr, Winthrop S Gilman, Simeon Ryder, Hezekiah Hawley, Mark Pierson Thomas G. Hawley, Caleb Stone Ambrose C Hankinson & Jonathan T Hudsson & their associates & successors be and they are hereby constituted a body politick & Corporate under the name of the Alton Hotel Company, to be located in the town of Alton, Madison County, & by that name shall have power to contract, & be contracted with, & may sue, & be sued, plead & be impleaded, answer & be answered unto, in all courts having competent jurisdiction, and shall be vested with all the powers & privileges necessary to the object of their incorporation, as are hereinafter defined & limited.

Sec. 2. The said Company shall have power & be capable of holding, purchasing improving, selling & conveying any Estate Real or [personal?] for the use of said Incorporation. 2^nd to improve or Erect buildings on the same.

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3^rd to rent lease or occupy any or all such [Lands?] belonging to said Company for a term not Exceeding the limits of this Charter, provided that the real Estate owned by the said Company shall not Exceed one-quarter Section of Land, Except such as may be held as collateral security for Debts due the said Company or may become the property thereof by virtue of such indebtedness.

Sec. 3.^rd The Capital Stock of said Company shall be Twenty Thousand Dollars, with power to increase the same at the pleasure of said Company to any sum not Exceeding Fifty Thousand Dollars, which capital stock shall be divided into shares of fifty Dollars Each & subscribed for & held in the manner hereinafter provided

Sec. 4.^th The better to Enable the said Corporation to transact & carry on the purposes of their said Incorporation, they are hereby authorized & Empowered to make, Endorse, issue, receive and transfer promissory Notes, bills of Exchange, conveyances of Land, to receive the hypothecation & pledges of the Stock ^ of any of other^ companies or incorporations, and other instruments in writing necessary to the transaction & safety of their said business,

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provided that this act shall not be construed so as to authorize the said Company or Corporation to make or [Emit?] bills of credit, promissory notes, Bank notes, or other instruments to be used as a circulating medium,

Sec. 5^th All contracts or other Evidences of indebtedness which may be made or Entered into by the said Incorporation shall be subscribed by the President, & attested by the Secretary, & being so signed & attested shall be binding on said Corporation, & all conveyances made & Entered into by the said Incorporation, conveying Real Estate belonging to the said Company when signed & attested as aforesaid, shall in like manner be binding on said Corporation according to the tenor, Effect, & true interest & meaning of the same

Sec. 6^th The concerns of said Corporation shall be managed & conducted by Five (5) Directors, who shall be chosen annually by the stockholders or their proxies, which shall be by [...?] ballot, & the five persons receiving the greatest number of votes, shall receive the certificates of the inspectors, declaring them duty Elected. The Directors so chosen, or the major part of them, shall constitute a Board & be competent to the transaction of business & shall & may

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from time to time, make & prescribe such bye Laws, rules & regulations, relative to the concerns of said Corporation, the duties of the President & Seretary, (Each of whom shall be Elected by a Majority of the Directors so chosen), & shall also regulate the duties of their agents, clerks & all others by them Employed. And also shall appoint a Treasurer, who shall give Bond in such amount & in such manner as the said Directors shall prescribe. And the said Dirictors shall have power to appoint such other officers, agents & clerks, as may be necessary for carrying on the business of said incorporation, with such salaries & allowances as to the Said Directors shall seem proper, provided that such Bye Laws & regulations shall not be repugnant to the Constitution & Laws of the State United States or of this states.

Sec. 7.^th. That Benjamin Godfrey, Calvin Riley & Stephen ^Griggs^ shall be Commissioners, the Duties of whom, or a Majority of them, shall be to open Books of Subsciption, to the Capital Stock of said Corporation, within one Month from & after the passage of this act, in such places & at such times as in their opinion is best calculated to have said stock taken up; twenty Days notice shall be given

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given by the said Commissioners, of the time & place & the number of days the subscription Books will be kept open for subscriptions, in a public Newspaper published in the places, where they intend to open said Books for subscriptions of the Capital Stock of said Company. The Commissioners shall receive no subscriptions, unless at least one Dollar on Each share subscribed be paid at the time of subscription, & as soon as the whole amt[amount]. of the said Capital Stock shall be subscribed the said Commissioners shall give a like Notice of twenty Days for the Meeting of the Stockholders for the purpose of choosing Five (5) Directors, designating the time & place, of such Election, at which Election, the said Commissioners shall act as Inspectors of the same, persons holding stocks of said Company shall be permitted to vote, Either in person or by lawful proxey, the said Commissioners shall be inspectors of the first Election of Directors, & shall certify under their hands, the names of those duly Elected & deliver over to them the Subscription Books & the amount of Money received on subscriptions to the said Directors.

Sec. 8.^th The Stock of said Corporation shall be deemed personal property, & assignable & transferable on the Books of the Corporation, but no

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stockholder indebted to the Corporation shall be permitted to make a transfer until such Debt be paid or secured to be paid to the satisfaction of the Directors.

Sec. 9^th The Company, shall at all times keep proper Books of accounts in which shall be Registered all the transactions of the Corporation, & the same shall at all times be subject to the Inspection of the Stockholders, & it shall be the duty of the Directors to make annual dividends, or at such other times as a Majority of the Directors shall Direct, of so much of the profits of the said Company as to them or a Majority of them shall appear advisable, & the said Directors shall whenever required by a Majority of the Stockholders, Exhibit at a General meeting, a full & perfect statement of the Debts & credits, & all such other matters as may be deemed Essential, relating to the affairs of the Company.

Sec. 10^th The stock not disposed of by the Commissioners in the manner [herewithin?] before named, shall & may be issued by the Directors for the time being according to the Bye Laws & regulations that may be adopted by the said Company.

Sec. 11.^th As soon as twenty per cent, of the Capital Stock of said Company shall be paid in subscribed & paid in, the said Corporation shall be authorized to proceed to business & not before.

Sec. 12.^th This act is hereby declared public, & shall take Effect from & after its passage, & be & remain in for force for the term of 10. years