A Bill

An act to incorporate the Illinois & Michigan Transportation Company.

Sec[Section]. I. Be it enacted by the People of the State of Illinois, represented in General Assembly; that Gurdon S. Hubbard, John H. Kinzie, James Day, Benjamin H. Moores, John Hamlin & Aquila Wren, their associates, successors[,] & assigns, be & they are hereby constituted a body politic & corporat[e] to be called “The Illinois & Michigan Transportation Company,” with full power by that name to sue & be sued, plead & be impleaded in all courts of law & equity, to make & use a common seal & the same to break or alter at [?] pleasure, and to do all acts which may be [ne]cessary for the purpose of establishing & constr[?] a line or lines, of wagons or other carriages, boats or vessels, between Chicago on Lake Michigan and [?] any place or places on the Illinois & Mississi[ppi] rivers for the conveyance of passengers & the transportation of goods, wares[,] & merchandise produce & other articles.

S[Section]. 2. The capital Stock of said company shall not exceed one hundred thousand dollars, to be divided into shares of one hundred dollars each.

S. 3. It shall be the duty of the said commissioners within three months after the passage of this act to open, or cause to be opened, books for subscription to said capital Stock, at the towns of Chicago [?][,] Peoria & such other places as they may deem [expe]-

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dient, public notice thereof being previously [?] in one or more of the newspapers printed [?] & Peoria: to keep the said subscription [books?] [?] during five days successively unless the whole of said capital stock be taken up before the expiration of said time; to require each person subscribing to pay the sum of five dollars for each share subscribed for, which money shall be [paid?] over to the treasurer of said company who [?] appointed & qualified: and when one third of the said capital stock shall have been [subscribed?] for, to call a meeting of the subscribers [?] time & place as they may appoint for the [purpose?] of electing a board of five directors [who?] shall hold their offices during one year [&?] until others are elected. each share [being?] [?] titled to one vote.

^Sec 4.^ ^It shall [?]^ [...?] The directors thus elected shall ^to^ [choose?] [?] of their number to be president; to [appoint?] [?] secretary & treasurer; to make all necessary [?] laws for the better regulation of the affairs of said [Com]pany, which by-laws may be altered or repealed by a majority of the stock-holders at any legal meeting; each share being allowed one vote to call annual meetings of the stockholders to fill all vacancies that may occur in [?] board or in the office of president, until the next annual election: to open subscription books for the remainder of said capital stock provided that the whole of said capital stock be not taken up at the first opening of said books; [?] the whole concerns of the ^said^ company [?]

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wise expressly provided for, and to ^do^ all other matters & things necessary to carry into full effect the objects & intentions of this act.

Sec 5. It shall be lawful for said company to purchase & hold all such property, real, personal[,] & mixed, as will enable [them?] it with convenience to carry into full effect the objects for which this charter was granted, & to sell & dispose of the same whenever the said directors may deem it expedient.