An act to incorporate the Stockholders of the “Lacon Manufacturing Company.”

Section 1.^st 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, herein after described shall be and they are hereby constituted & declared a body public & corporate by the name & style of the “Lacon Manufacturing C^o” from and after the passage of this act, & by that name, they and their successors shall have succession and shall be in law be capable of sueing and being sued, pleading & being impleaded, in all courts & places whatsoever, may have a common seal alter & change the same at pleasure, & they and their successors may also by that name & style be capable in law of [?] contracting and being contracted with, & of purchasing holding conveying away Real & personal estate, for the purposes and uses of said Corporation as hereinafter limited.

Sec^t[Section] 2. The President & Directors of said company hereinafter provided for, shall have power and are hereby authorized to carry on the manufacture

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of Flour, wool Hemp, Beet Sugar[,] & other useful branches of business; to erect Mills works, Machines[,] and such other buildings as may be necessary to carry on their business. and To export their Manufactures and products, & may to purchase for ^in the ^ the ^name of the ^ Corporation Land sufficient for the purposes and objects of the said Company, and may ^to^ enter in ^into^ all contracts which may concern the use & management of said property, and as ^or^ may be necessary and proper to carry into effect the objects of this act, & to exercise & ^all^ the powers herein granted to the company.

Sec^t 3. The Capital Stock of said company shall consist of one Hundred & fifty thousand Dollars divided into shares of one Hundred Dollars each.

Section 4. That for the purpose of carrying into effect the object of this act, Jesse C. Smith[,] Ira J. Fenn & Joseph H. Johnson are hereby appointed Commissioners to obtain subscription[s] to the capital stock, & 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 & places as they may direct & Keep the

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same open 'till[until] at least one thousand shares are 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 & 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 Lacon, by a printed notice in some newspaper of general circulation within this state.

Section 5 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 & until their successors who shall be vested with like the same authority as elected.

Sec^t 6. And that at said election each stockholder shall be entitled to give one vote for each share of stock he may hold & a majority of all

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the votes given shall be required to make an election.

Sec^t 7. That the period of election shall be annually the first Monday in the month in which the first election was held & at such time & place as the President & Directors may appoint.

Sec^t 8. That immediately after the Directors are chosen as above they shall hold a meeting at which, & 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 Secretary who shall be sworn by a justice of the peace to the faithful discharge of his office duty & 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 & in such manner as the said president & Directors shall direct & such other officers and agents as to them may seem necessary

Sc^t 9 That said President & Directors shall have power from time to time to make all such Bye Laws, rules[,] and regulations not inconsistent with the Constitution and Laws of this state, which may be necessary for the payment or collection of subscriptions to its stock. the transfer and assignment of the same. the conveyance of property, or that in any other way may concern the management and direction of the affairs and interests of said Company.

Sec^t 10. This act shall continue in force for the term of twenty five years from the passage thereof, provided however. that during that time upon any departure from or violation of the provisions of this act. The Legislature may alter, amend[,] or repeal the same as they may deem the public good shall require.