An act to incorporate the Mackinaw and Illinois Canal and Manufacturing Company.

Sec.[Section] 1. Be it enacted by the People of the State of Illinois represented in General Assembly, That Asa Lee Davison[,] Ira Davenport[,] and John A. Jones, their associates, successors[,] and assigns, be and they are hereby created a body politic and corporate, under the Style and name of the Mackinaw and Illinois Canal and Manufacturing Company , and by that name shall have power to contract and be contracted with, and shall be and hereby are made capable in law to sue and be sued to final judgement and execution, plead and be impleaded, defend and be defended, in any Court of Record or in any other place whatsoever; to make have and use a common seal, and the same to break or alter at pleasure; and shall be and hereby are vested with all the powers[,] privileges[,] and immunities, which are or may be necessary to carry into effect the purposes of this act, as hereinafter set forth.

Sec. 2. The Capital Stock of said Company shall consist of one Thousand shares, of one Hundred Dollars each share, with liberty to increase the same from time to time, in such manner and form as they shall think proper, if such increase shall be deemed necessary, by the Company, to fulfill the intent of this act; which said Capital stock shall be deemed personal property, and transferable in such manner as the said Corporation shall direct. ^provided the said capital Stock shall not exceed [...?] two hundred thousand Dollars^

Sec. 3. The said Corporation shall have the right and power to construct, maintain[,] and continue a canal in the County of Tazewell, from the Mackinaw River, Commencing on section number Twenty four in Township Number Twenty ^four^ four North of Rang Number Six west of the Third meridian, and thence a westerly Course to the Illinois River at or near Egman’s Ferry; on which canal said Company shall permit all persons to pass, with boats, passengers[,] and property, whenever the same is passable, upon payment of such tolls as may be fixed upon by the Directors; Provided, the Tolls shall be uniform. And the said company are hereby authorised to use the water power created or improved by the construction of the said canal for the purposses of manufacturing grain and lumber[,] woolen and cotton Stuffs[,] and Goods and such materials of wood and metal as they may think proper; and may for that purpose erect and use such mills, works, or machine Shops, or other buildings as may be necessary as may be necessary to carry into effect the objects of their incorporation

Sec. 4. The Said Company shall be and hereby are authorised to use the waters of the Mackinaw River to supply the canal or otherwise, and to make such dams or locks as may be necessary to procure a sufficient quantity of water or otherwise; Provided, the said Company shall be responsible for all damages sustained by the overflowing of any lands, by the owner thereof; and also all damages Sustained by the making of dams or locks upon the land of any person or persons whatsoever. And in case the said canal Shall cross any publick road the same shall be so bridged as not to injure its use. ^ provided further that no injury be done to any ^ [...?]

Sec. 5. The said Corporation shall have power to purchase, receive[,] and hold such real estate as may be necessary and useful for the construction of the Canal in the accomplishment of the objects of its creation; it shall also be authorised to enter upon and use any ^and^ all lands over and upon which the said canal may pass, or So much of said land as may be necessary to the construction of the canal and the conveni^e^nt use and enjoyment of the same; also to take and use timber, stone[,] and such other materials as may be indispensible to the construction and maintainance of said Canal; Provided, that said Company Shall pay to the owner or owners of land entered upon and used, as aforesaid, the damages sustained by such owner or owners; and also the owner or owners of timber, Stone[,] and other materials, the value thereof before entering upon and taking the same. And if the said Company and owner or owners shall be unable to agree, such damage or value shall be ascertained under and according to the provisions of the act, intitled “An act concerning the right of way and for other purposes,” approved 28. Feb.[February] 1833. one of the Directors or their authorised agent acting as supervisor.

Sec. 6. The Directors of said Corporation shall be competent to transact all the business pertaining to the same, and shall have full power to make and prescribe, such bye-laws[,] rules[,] and regulations as to them shall appear needful and proper, touching the management and disposition of the stock, property, estate[,] and effects of the said Corporation, the transfer of shares, the duties and conduct of their officers and servants; the election of their president and directors, which shall not be more than five nor less than three, and the filling of vacancies in the same; and all other matters whatsoever which may appertain to the concerns of the corporation, not inconsistent with the laws ^& constitution of this state & of the United States^

Sec. 7. The Directors shall have power to appoint a secretary and Treasurer, Engineer, agents or agents, Clerks and Servants; and to require such security and appoint such salaries or compensation as to them shall seem just and proper; And Shall appoint the time and place of elections which after the first shall be ann^u^al. Within Six months after one fourth part of the Capital Stock of said Company shall have been subscribed, they shall appoint the time of the first election, which shall be at the town of Pekin in the County of Tazewell, of which thirty days publick notice shall be given, in some paper of general circulation in said County. At all elections each share of stock shall intitle the owner thereof to one vote, either in person or by proxy, and the Directors shall preside.

Sec. 8. The Directors shall determine the time, place[,] and manner of opening books for subscription to the capital stock of said Company, or may take such methods to dispose of the Same as may to them seem most proper; they shall determine the amount to be paid in on subscription, not exceeding Five Dollars on each share; and in case an excess of shares shall be subscribed shall apportion the same as to them shall seem most for the interest of the Company They shall from time to time give notice in some paper or papers of general circulation in each state where any shares of said stock may have been subscribed, of the payment required on each share, at least four weeks previous to the time appointed for such payment, and when payment is delayed for thirty days thereafter, may forfeit such share or shares to the company, or may cause the same to be sold at auction for the use of the Corporation. Asa Lee Davison, Ira Davenport[,] and John A. Jones shall be and hereby are appointed Directors, from the time this act takes effect and till others are elected in their steads.

Sec. 9. If the said corporation shall not within Ten ^five^ years from the passage of this act construct the said Canal, or any part thereof as shall be deemed expedient by said corporation, then the said corporation shall from thenceforth and forever cease, and this act be null & void

Sec. 10. For the purposes of carrying into effect the objects granted by this act, the said company is authorised to negociate a loan, or loans of money, to the amount of its Capital Stock, and to pledge all its property, real & personal, and all its rights, and credits[,] and franchises for the payment thereof. And the said company shall be authorised to loan any part of its funds, at any rate of interest allowed by the general laws of the state to an individual, and to take such security for the payment thereof as may be deemed sufficient.

Sec. 11. The company shall at all times keep proper books of account, in which shall be registered all the transactions of the corporation, and the same shall at all times be subject to the inspection of the stockholders. And it shall be the duty of the Directors to make annually, or at such times as they may direct, devidends of so much of the profits of said company, as to them Shall seem adviseable.

Sec. 12. The total amount of debt, which at any time the said corporation shall owe, shall not exceed the amount of their capital stock; and in case of such excess, the Directors under whose administration the same shall happen, shall be holden for the same in their natural and private capacities; but this shall not be construed to exempt the corporate property of the company from liability for such excess.

Sec. 13. The mode of suing the corporation shall be by summons, and a copy of the same delivered to the President, Secretary, or Treasurer shall be sufficient service of process to require the corporation to answer, and to authorise any court to proceed to judgement. And the Stock of the said corporation, together with all manufactured goods, or other articles, tools, implements, machinery[,] and apparatus of any description, used and imployed, or on hand, belonging to the said company, shall be liable to be seized, executed[,] and sold, after judgement, or decree, to make good any contract, agreement[,] or stipulation made by the said company, or any agent, or other authorised person, or persons, of said company.

Sec. 14. If any person shall wilfully, or negligently do or cause to be done, any act or acts whatsoever, whereby any building, construction, or work of the said corporation, or any boat or other thing pertaining to the same, shall be weakened, impaired, or destroyed, every such person shall forfeit and pay to the said corporation treble the amount of damages sustained, to be recovered by action of debt, in the name of the said corporation, in any court, or before any justice of the peace, having jurisdiction thereof, with costs of suit; and such person, or persons shall be liable to indictment and punishment by fine, or imprisonment.

Sec. 15. This act shall be deemed a publick act and shall be favourably construed for the purposes therin expressed, in all courts and places whatsoever. ^& shall take effect and be in force from and after its passage.^