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Sec[Section] 1. Be it enacted by the People of the State of Illinois represented in the General Assembly
That the Act Entitled “An act to Incorporate the President Directors and Company of
the Bank of Kaskaskia” approved January the 9th 1818 be and the same is hereby continued in force until the first day of January
1870.2
Sec 2. Each share shall entitle the holder thereof to one vote at all elections for Directors,
and the said Corporation is hereby authorised to receive for loans made the following rates of Interest, to wit; on loans for six
months or under at the rate of six per cent per annum. And on loans over six months at the rate of eight per cent per. annum.
Sec: 3. The said Corporation may establish and or ^any number of ^ newbranches ^not exceeding five^3 wherever and whenever it shall be deemed Expedient so to do. And Books for Subscription
to the Capital Stock of the said Corporation, shall be opened at such times and places, and the subscriptions to the said Stock,
shall be made and conducted in such manner as the Commissioners or a majority of them
shall direct and appoint, upon giving thirty days previous notice of the same in
one or more newspapers printed in this State. And it shall not be lawful for the said Corporation to issue any Bank Bills of less denomination than five dollars.
Sec 4. For the purpose of superintending the subscription of Stock, the following persons
shall be added to the Commissioners named in the Charter, Miles A Gilbert, William Brewster, David J Baker, John P Macginness, Robert G Shannon, Samuel Mansker and Gabriel Jones4 of Randolph County, Miron Leslie Murry McConnell and James Dunlap of Morgan County; Meshack Morriss and John Ewing of Franklin County; Samuel McRoberts of Vermillion County M. K. Alexander of Edgar County, Horatio G Loomis, Wm B. Ogden and Chas V. Dyer of Cook County; A. G. Sloo, B. Clifford Junr and S. Ryder of Madison County; Elijah Willard of Union County; and John Henson of Jackson County. X
Sec: 5. The Capital Stock of said Corporation, may be hereafter increased to any amount by the Legislature of this State and subject to its direction, provided5 that said Bank shall pay into the State Treasury annually one half per cent on the Capital Stock actually paid into Said Bank to be used for State purposes. and the said Bank shall be exempted from further taxation in consideration thereof.
Sec 6. The Books and affairs of the said Corporation shall always be open to Examination by [?] Agent
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or Agents appointed by the Legislature of this State for that purpose. Provided however, That so muc[h] of the act to which this is a Supplement as is inconsistent with the provisions of
this Act is hereby repealed.
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No 281.
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A Bill for an act to continue the Charter of the Bank of Kaskaskia for a limited time.
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[02]/[20]/[1837]
[02]/[20]/[1837]
3
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[03]/[03]/[1837]
[03]/[03]/[1837]
laid on table
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[03]/[01]/[1837]
[03]/[01]/[1837]
ref[referred to the Committee on the] Judiciary.
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[02]/[14]/[1837]
[02]/[14]/[1837]
Engrossed.
1James Shields from the Committee on the Judiciary introduced HB 243 in the House of Representatives on February 11, 1837. The House referred the bill to a select committee, which reported
back the bill with amendments on February 14, which the House approved. On February
21, the House further amended the bill and then passed it by a vote of 43 yeas to
38 nays, Abraham Lincoln voting yea. On February 27, the Senate referred the bill to a select committee, which reported back the bill with an amendment
on March 1. The Senate then referred the bill and the proposed amendment to the Committee
on the Judiciary. On March 3, the Committee on the Judiciary reported back the bill,
recommending its postponement. The Senate then laid the bill on the table.
Illinois House Journal. 1836. 10th G. A., 1st sess., 560, 588, 654, 660-61; Illinois Senate Journal. 1836. 10th G. A., 1st sess., 476, 538, 572-573, 618-19.
2“An Act to Incorporate the President, Directors and Company of the Bank of Kaskaskia,”
9 January 1818, Laws Passed by the General Assembly of Illinois Territory (1818), 82-90.
3On February 21, 1837, the House of Representatives amended the bill by adding this
phrase.
Illinois House Journal. 1836. 10th G. A., 1st sess., 661.
4On February 21, 1837, the House of Representatives amended the bill by adding “James
Pollock, Francis Swanwick, Harvey Clendinnen, and Antoine Blair” here.
Illinois House Journal. 1836. 10th G. A., 1st sess., 660-61.
Handwritten Document, 4 page(s), Folder 227, HB 243, GA Session 10-1, Illinois State Archives (Springfield, IL) ,