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Sec[Section] 1st Be it enacted by the People of the State of Illinois Represented in the General Assembly, That Parrish Mason[,] Alfred Caverly[,] John Wyatt William Craig, and such other persons as may associate with them for the purpose of constructing a rail Road from the town of Springfield in the county of Sangamon by the way of Millville or Herideths Mills on or near the head of Lick Creek, in said county, and by or near Point Pleasant at or near the head of Ofall Creek in the county of Morgan1 and through the Town of Caralton in the county of Green, to the Town of Grafton on the Mississippi River in said county of Green. And also from the town of Jacksonville in the county of Morgan through the Town of Franklin to such point upon the aforesaid main route from Springfield to said Grafton, so as the commissioners in this act named or a majority of them shall designate, ^(^be^)^ and are hereby constituted a Body corporate by the name of the Mississippi ^&^ Springfield, ^(^and Jacksonville^)^ Rail Road Company and by that name may sue and be sued, defend and be defended in Law and equity in all courts whatsoever, and by that name shall be capable of Succession, may have and use a common seal and make and establish such by Laws, rules and regulations as shall from time to time appear necessary to the said [cor]poration for the government of said corp[ora]tion, and may transport upon said railroad pro[per]ty or persons or passengers by the force of steam, or animal <Page 2>
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Power, or any mechanical power or by a combination of the same |
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Sec. 2. And be it further enacted that Elihue Walcot[,] Bezaleet Gillet, Samuel S Prosser, John Calhoun, William, William Craig, Jacob Fry, Paris Mason, and Alfred W Cavarly, shall be commissioners whose duty it shall be to open books for the purpose of receiving subscriptions to the capital stock of said company, at some proper place, in the town of Springfield, Carrolton, Grafton and Jack sonville aforesaid; at such times as the said |
commissioners shall in their discretion deem proper, by their giving ninety days
notice in the public newspapers printed at said Springfield, and in the newspapers printed at said Jacksonville and in the newspaper printed at Carrolton aforesaid, and at one or more public place or places in the aforesaid town of Grafton; and in case no paper shall be printed at the aforesaid places, then and in that
case the said commissioners shall put up notice at one more public place or places
such of the ^(^aforesaid^)^ towns as may not at the time, provided for the giving of such notice have a newspaper
published. And the books aforesaid shall remain open at each of said places for the
space of ten days; and in case the whole of the capital stock of said company shall not be subscribed for at the aforesaid places, the aforesaid commissioners
are further authorized to open, or cause to be openened, books for the
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subscription of the capital stock not subscribed for, in any place or places in the
United States, and at such times, as in their discretion they shall think proper.
Any four of the above named commissioners shall at any time be competent to transact
any business
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Sec 3. The capital stock of said company shall first be eight hundred thousand dollars, and the said company shall have power to increase the capital stock from time to time by new and further subscriptions as the said commissioners or a majority of them shall deem proper. Which said capital stock shall be |
divided into shares of one hundred dollars each, which shall be deemed personal
property, and transferable in such manner as the said corporation shall provide and direct.
Sec 4. And be it further enacted, that the said corporation may and are hereby authorized to make, and cause to be made, such examinations and
surveys on the aforesaid Rail Road route ^(^or routes^)^ as said corporation shall deem necessary and proper, for the purpose of carrying into effect the object
of said corporation, and they are hereby authorized to enter upon and take possession of, and use all
such lands as may be deemed necessary for the construction, and maintenance of said
Rail Road; And may also hold and take all voluntary grants, and donations of land to aid in
the construction, maintainance and accommodation of their said Rail Road. And all lands entered upon and taken for the use of the said corporation, which are not
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donated to said Corporation shall be paid for by the said corporation at such price as may be mutually agreed upon by said corporation and the owner or owners of such land; And in case of disagreement, the price shall
be fixed by three, or more commissioners to be appointed by the Governor of the State, which said commissioners shall be sworn, by any person, within this state, authorized by law to administer Oaths, faithfully and impartially to appraise such
land, which appraisement, so made, by said commissioners shall be binding upon said corporation and upon the payment of the same, the said land shall be vested in said corporation in fee Simple.
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Sec 5. And the said corporation are also author- ized and impowered to borrow any sum or sums of money which they in their discretion may deem necessary to aid in the construction of said road not exceeding the amount of their capital stock; And if it shall at any time appear to the Directors of said Cor- poration, that any portion of the money borrowed as aforesaid, or any portion of surplus capital, shall not be required to be retained for such purposes, the same may be loaned at such rate of interest as is now by law allowed to be taken by individuals or may be reimbursed according to the discretion of said Directors. ^proviso^ |
Sec. 6th And be it further enacted that ten percent of the capital stock shall be paid at
the time of
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subscription and so soon as one half of the capital stock shall have been subscribed
the aforesaid commissioners shall give notice in the same manner as is required in
the second section of this act in relation to the opening of the subscription books
at Least twenty days before a meeting of the stockholderrs to choose five Directors and such election shall be made at the time and place previously
notified and appointed by said commissioners, by such of the stockholders as attend
for that purpose either in person or by Lawful Proxys, each share of the capital stock
entitleing each Stockholder to one vote and the said commissioners or a majority of those present
shall be inspectors of the first election of Directors of the said corporation and shall certify under their hands the names of those Duly elected, and shall deliver
over the subscription Books to the said Directors; which said Directors, or those
chosen at any annual election, shall choose one of their number to preside over their
deliberations and shall fill all vacancies that may occur in their Board, and it shall
further be the duty of the said Directors of said corporation to cause an election of Directors to be holden once in every year in such manner
as may be provided in the by Laws of said corporation.
Sec 7th It shall be Lawful for the directors to require payment of the sums subscribed to
the Capital Stock at such times and in such proportions, provided it be not Less than
ten dollars per share as they shall deem fit, under the penalty of the forfeiture
of all previous
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payment thereon in the case of failure so to pay as above directed and the directors
shall give notice of the payments thus required and2 of the place and time when and where the same is to be paid at Least sixty days previous
to the payment of the same in some public newspaper of this state and in each of the several cities where the books of the company may have been opened for subscription to the capital stock.
Sec 8th If an Election of directors shall not at any time take place as is required by this
act, the said corporation shall not for this cause be deemed dissolved.
Sec 9th That the said corporation may be and are hereby authorized to take such quantity of Land of sufficiant width for the construction of a Rail Road, as they may deem necessary and proper,
under the conditions prescribed in the preceeding section, and that the said corporation shall have power to regulate the time, and manner for the transportation of goods
and passengers on the said Rail Road, as well as the manner of collecting tolls and dues on account of transportation
and carriage to erect and mantain toll house and all other buildings for the accommodation of their concerns and to
collect tolls so soon as any part of said Rail Road shall be finished
Sec. 10 The said company are hereby authorized to construct the said Rail Road across any water course road, or other public high way,
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subjecting themselves to any damages that may be incured by so doing
Sec 11th
If any person or persons shall willfully do or cause to be done, any injury to said Rail Road, or to any carriage car, engine, machine toll house or other building or any structure whatever belonging to said corporation, the person or persons so offinding shall forfeit and pay the said corporation double the amount of damages sustained by means of such offense or injury, with all the costs of action, before any court of record in this state; and the person or persons so offending shall be further declaired guilty of a misdemeanor and and Liable to five and imprisonment
If any person or persons shall willfully do or cause to be done, any injury to said Rail Road, or to any carriage car, engine, machine toll house or other building or any structure whatever belonging to said corporation, the person or persons so offinding shall forfeit and pay the said corporation double the amount of damages sustained by means of such offense or injury, with all the costs of action, before any court of record in this state; and the person or persons so offending shall be further declaired guilty of a misdemeanor and and Liable to five and imprisonment
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[ docketing
]
An act for the incorporation of the Mississippi and Springfield and Jacksonville ^Carrollton^ Rail Road company.
[ docketing
]
[12]/[14]/[1835]
[12]/[14]/[1835]
Engrossed
Handwritten Document, 8 page(s), Folder 6, HB 6, GA Session: 9-2,
Illinois State Archives,