Sec[Section] 1 Be it enacted by the people of the State of Illinois represented in the General Assembly, That all persons who shall be stockholders pursuant to this act, are hereby constituted
a body corporate by the name of “The Grand pass Canal Company.”
Sec 2 The said Corporation shall have the right to construct, and during its existence to keep in repair a Canal
from the Illinois River near the Town of Bridgeport in Morgan County to the Grand Pass, in the County of Green.
Sec 3 The capital stock of said corporation shall be thirty thousand Dollars, and divided into shares of twenty five Dollars
each, which shall be deemed personal property, and transferable in such manner as
the said Corporation shall by their bye-laws Direct.
Sec 4 That John Thompson, David Hodges, Charles Gregory[,] Henry M Blanchard[,] and Dennis Houghton, and Chester Swallow are hereby appointed Commissioners to receive subscription for the capital stock
of said corporation and after having given twenty days public notice in writing in three public places
in the County of Green, and also in three public places in the County of Morgan, and upon the door of the Courthouse of said Counties, shall meet at the Hotel in
the Town of Whitehall in Green County and open books for subscription to said stock, and shall keep them open for ten days
successively unless the whole
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stock shall be sooner taken, when they may close the same; and after the said Stock
shall be subscribed the said Commissioners shall apportion the same among the stockholders,
on equitable and just principles.
Sec 5 After said stock shall have been apportioned, the aforesaid Commissioners shall
call a General meeting of the stockholders, to meet at such time and place as they
may appoint; giving ten days previous notice of such meeting for the election of five
Directors, who shall continue in office for the term of one year, and untill others are elected to supply their places; who shall be stockholders. Said stockholders
shall be entitled to one vote for each share of stock they may have subscribed, and
the said Commissioners sh shall give the individuals chosen directors, certificates of their election
Sec 6 The said dirctors shall have power to appoint or elect one of their number President of the Board of
Directors, also a Secretary and Treasurer, and such other offices as they may deem
necessary.
Sec 7 The said Directors shall in the name and style of this corporation be enabled to hold real estate sufficient for the purposes of this incorporation,
and to effect the objects herein intended; either by Donation, or by purchase: and
if individuals should refuse to sell or donate as much land as may be necessary for
the use of said Canal, and for the feeders, and for the necessary accommodation of the agents of said Corporation, the said Directors may apply to the County Commissioners Court of Green County for the appointment of
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thre disinterested appraisers, who shall proceed to the place after being sworn and view
the lands wanted by said Corporation for its accommodation as aforesaid, and shall value and appraise the same, and return
an Inquest under their hands and seals to the said County Commissioners Court, which Inquest shall be filed with the clerk of said Court. And when the said Directors shall pay to the owner or owners of such land the appraised
value of such land appraised as aforesaid, and deposite the same with the clerk of said Commissioners Court for the use of the owner of such land, then the said Corporation shall be immediately invested with the complete occupancy of said land, and shall
hold the same exclusively against said owners and all other persons During the existence
of this Incorporation.
Sec 8 The corporation shall be authorised to use the water of Little Sandy Creek, also the natural springs along the Bluff
and the watter of the slough, for the purpose of supplying said Canal with water or sufficient for that purpose, and shall have all the usual and incidental
powers belonging to Corporations, for the purpose of constructing, finishing, and
using such Canal, and of enacting reasonable tolls for the use of the same by other persons: also
of passing all such Bye laws, rules[,] and ordinances, for the due regulations of the affairs of said Company, but no banking privileges whatsoever.
Sec 9 The said Corporation shall continue to be a body corporate and politic for the term of twenty five years.
Sec 10 Nothing in this act contained shall be considered as confering any powers whatever on the said Corporation; but the power to construct the Canal aforesaid, and all the means direct and incidental, to accomplish that object, the
repairs of the work, and the use of the same and the exercise of all the privileges
and advantages appertinent to the same.
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17
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No 313
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An act to Construct the Grand pass Canal Company
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[02]/[28]/[1837]
[02]/[28]/[1837]
Engrossed
1These legislators formed a select committee in the Senate that considered the bill.
Illinois Senate Journal. 1836. 10th G. A., 1st sess., 504.
Handwritten Document, 4 page(s), Folder 210, HB 224, GA Session 10-1, Illinois State Archives (Springfield, IL) ,