A. Bill for An Act, to incorporate the “Illinois [Beet] Sugar Manufacturing Company” ^In the County of Henry^

Sec.[Section] 1. Be it enacted by the people of the State of Illinois represented in the General [Assembly] That Edward Kilbourn, William Coleman [,][Alfred Buell][,][David] W. Kilbourn[,] [Enos H. Buell], and [asso]ciates and success[ors they are hereby cons]tituted a body politic and corporate, under the name of the “Illinois Beet Sugar Manufacturing Company” and by that name shall have power to [contract?] and be contracted with, sue and be sued, plead and be impleaded, answer and be answered unto, in all courts having competent jurisdiction: and shall be vested with all the power and priviledges necessary to the object of their incorporation.

Sec 2 The said Company shall have power to give and receive prommissory notes; and they are hereby authorized to enter into, and carry on the business of cultivating ^& purchasing^ the sugar Beet and manufacturing sugar from the same: to export their product and manufactures; to erect mills, works, machines,

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and such other buildings as may be necessary to carry on the business and to enter into all contracts which may concern the use and management of said property.

Sec 3 The capital stock of said Company, shall be One hundred thousand Dollars, with power to increase the same, at the pleasure of said Company, to any amount not exceeding Two hundred and fifty thousand Dollars; which capital stock shall be divided into shares of One hundred Dollars each; Provided That the total amount of debt which said Corporation shall at any time owe, shall not exceed the amount of their capital stock, and in case of such excess, the directors under whose administration it shall happen shall be holden for the same, in their natural and [private] capacity: but this shall not be construed to exempt the corporate property of the company from being also liable and chargeable for such excess

Sec 4 Subscription to the capital stock of said company shall be opened under the direction of the directors hereinafter named, and they shall distribute the stock among the several subscribers,

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in such manner as they shall deem most conducive ^to^ the interests of said Corporation. And it shall be the duty of the directors, for the time being, to call for, and demand of the stockholders, respectively, all sums of money by them subscribed, at such times, and in such proportions, as they shall see fit, under the penalty of the forfeiture of their shares, and previous payments made thereon, to the said Corporation, always giving th[irt]y days notice in the nearest newspaper.

Sec 5 The stock, property[,] and concerns of said Corporation shall be managed and conducted by five directors, who shall, at the time of their election be holders respectively of not less than Ten shares of the capital stock of said Company. Said directors shall be chosen annually on the first monday in June by the stockholders or their proxies, which shall be by ballot; each share of the capital stock shall be entitled to one vote; and the persons receiving the highest number of votes shall be deemed

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duly elected, to hold their offices for one ye[ar] and untill others are elected to fill their places. The directors so chosen or the major part of them, shall constitute a board and be competent to the transaction of business; and may from time to time, make and prescribe such bye-laws, rules[,] and regulations, relative to the concerns of said Corporation, the duties of the president and agent (each of whom shall be elected by a majority of the directors so chosen;) and shall also regulate the duties of their agents, clerks, and all others by them employed; And the said directors shall have power to appoint such other officers, agents[,] and clerks, as may be necessary for carrying on the business of said Corporation

Sec 6. Edward Kilbourn, William Coleman jr Alfred Buell, David W. Kilbourn and Enos H. Buell shall be directors from the [time this act takes] effect and untill others are elected [in their stead?]. Four weeks previous notice of an election, after the first, shall be given, of the time and place of holding said election, by

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publishing such notice once in each week, for four weeks immediately preceding such election in the nearest newspaper; and such election shall be holden under the inspection of the directors.

Sec 7 The Company shall at all times keep proper books of accounts, in which shall be registered all the transactions of the Corporation; and it shall be the duty of the [directors] to make annual dividends, or at such other times as a majority of the directors shall direct, of so much of the profits of said Company, [as to] them, or a majority of them, shall appear advisable. And the said directors whenever required by a majority of the stockholders, shall exhibit, at a general meeting, a full and perfect statement of debts and credits, and all such other matters as may be deemed essential relating to [the] affairs of the Company.

Sec 8. A majority of the Stockholders, whenever they deem it necessary may call a special meeting of the Company; [if] it should at any time happen that an election of directors should not be made on the day when it ought to have

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been made, the Corporation for that [cause] shall not be deemed dissolved, but it shall [be] lawful on any other day to meet, and hold an election of directors, in such manner as shall have been prescribed by the bye laws of said Corporation.

Sec 9. The stock not disposed of by the directors, in the manner herein before named, shall and may be issued by the directors for the time being, according to the bye laws and regulations that may be adopted by the said Company.

Sec 10 The Corporation enacted by this act shall be capable, and are authorized to purchase, hold, and convey any estate, real or personal, that may be necessary to enable the same to carry on efficiently its business, as defined in this act, and for no other purpose whatever

Sec 11. The stock of said corporation shall be deemed personal property, and assignable and transferable on the books of the Corporation. But no stockholder indebted to the Corporation

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shall be permitted to make a transfer untill such debt be paid; or secured to be paid, to the satisfaction of the directors.

Sec 12. That nothing in this act shall be construed to invest said Company with any banking powers.

Sec 13. To repeal

Sec 14 of Public act