Sec[Section] 1. Be it enacted by the People of the state of Illinois represented in the General assembly, That all such persons as shall become subscribers to the stock hereinafter described shall be, and they are hereby constituted, and declared a body politic and corporate by the name and style of “The Illinois Exporting Company”, from and after 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 a common seal; alter and change the same at their pleasure; and they and their successors may also, by that name and style, be capable in law of ^15 line^ purchasing [&?] holding, and conveying away real and personal estate for the uses and purposes of said corporation, Provided that the real estate owned by the said company (over and above the lots of land on which their buildings are erected, shall not exceed six hundred and forty acres in each of the counties where ^such buildings^ the same may be located; except such as may be held as a collateral security for debts bona fide owed to the said corporation, or may become the property thereof by virtue of such indebtedness. And provided further, that any real estate acquired by such indebtedness shall not remain the property of the said corporation for a longer period than five years under the penalty of a forfeiture thereof to the people of this state.

Sec 2. The President and Directors of said company, hereinafter provided for, shall have power, and are hereby authorized to carry on the manufacture of Flour, Wool, Hemp, and other agricultural products

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to export their products and manufactures, to erect mills[,] works[,] machines[,] and such other buildings as may be necessary to carry on their business, and to enter into all contracts, which may concern the use of and management of said property.

Sec 3. The capital stock of said company shall consist of one hundred and fifty thousand dollars, divided into fifteen hundred shares of one hundred dollars each. Provided nevertheless, that the stock holders of said company, at a general meeting and by a vote, representing in its majority at least two thirds of the stock subscribed to said company, may, and are hereby empowered to increase the capital stock of said company to five hundred thousand dollars divided in the same manner as before into shares of one hundred dollars each. Provided That the total amount of debts which said corporation shall at any time owe shall not exceed the amount of their capital stock and in case of such excess, those under whose administration it shall happen, shall be holden for the same in their natural and private capacity. But this shall not be construed to exempt the corporate property of the company from being also liable and chargeable for said excess.

Sec. 4. That the general place of meeting for said company shall be at Alton in this state, but the President and Directors of said company [may] select such other places of business, as to them may seem fit for the general purposes of the Company.

Sec 5 That for the purpose of carrying into effect the object of this ^in^corporation James S. Lane, Thomas G Hawly, Anthony Olney, John M Krum, and D. B Holbrook are hereby appointed commissioners to obtain subscriptions to the capital stock of said Company and said commissioners, or a majority of them, after giving general notice thereof in some paper printed in this state, may open books for the subscription of said stock at such time and places as they may direct, and keep the same open till[until] at least one thousand shares of said capital stock is subscribed. If the requisite number of shares shall not be subscribed within thirty days after the books are opened, said commissioners, or a majority of them, shall take such measures for completing such subscriptions as they may deem expedient and proper. Every subscriber shall at the time of subscribing pay to said commissioners the sum of one dollar for each share subscribed. When such subscription is completed, or within sixty days thereof [...?] said commissioners, or a majority of them shall call a meeting of the stockholders, at Alton, by a printed notice in some newspaper of general circulation within this State.

Sec 6. That at said meeting the stockholders of said company shall immediately proceed to elect five Directors who shall manage, direct[,] and govern the affairs of said company one year from the period of said election and until their successors, who shall be vested with the same authority, are elected.

Sec 7. And that at said election each stockholder shall be entitled to give one vote for each share of stock he may hold, and a majority of all the votes given shall be required to make an election.

Sec 8. That the period of election shall be annually the first Monday in the month in which the first election was held.

Sec 9. That immediately after the Directors are chosen, as above, they shall hold a meeting at which, and at all subsequent meetings, a majority shall constitute a quorum, that they shall proceed to the election of a President from one of their number a sectretary, who shall be sworn by a justice of the peace to the faithful discharge of his duty, and who shall record all votes of the corporation in a book to be by him kept for that purpose; A Treasurer who shall give bond, to such amount and in such manner as the said President and Directors shall direct and such other officers and agents as to them may seem necessary.

Sec 10. That said president and Directors shall have power from time to time to make all such Bye laws and rules, not inconsestent with the constitution and laws of this state, which may be necessary for the payment or collection of subscription to its stock and the transfer of the same, the conveyance of property, or that; in any other way, may concern the management and direction of the affairs of said Company.

Sec 11. This act may be repealed, altered[,] or amended by any General assembly of this state, that may be in session after the expiration of twenty five years from, and after the first day of May next.