Sec[Section] 1 Be it enacted by the people of the state of Illinois Represented in the General Assembly That David Hailman[,] Peter Hailman[,] Lemuel B. Lisenbee[,] and Thomas Howard of the County of Alexander and thier associates and successors be, and they are hereby constuted a body politic and corporate, and under the name of the Unity Manufacturing Company to be Located at or near the Town of unity in the County of Alexander, and by that name shall have power to Contract and be Contracted with[,] sue and be Suied[,] plead and be impleaded[,] answer and be answered unto in all Courts having Competent Jurisdiction, and shall
be vested with all the power and privaledges nessary to the objects of thier incorporation
Sec 2. The said Company shall have power to give and receive promisory notes, to enter into and Carry on all Kinds of mechanical and manufacturing Business,
to erect mills[,] furnacis[,] and machine shops for the manufactury of Flower[,] Lumber [,]Woolin[,] and Cotton Goods[,] Castings[,] macheinery[,] and Farming [...?]utensils.
Sec 3 The real estate owned by the Company over and above the Lots of Land on which thier Buildings are erected shall not exceade six Hundred and forty acres, except such as shall be held as Calatteral security for debs Bona Fide owed to the Said Corporation or may become the property theirof by virtue of such indebtedness,
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and further no real estate acquired by such indebtedness shall remane the property of said Corporation for a longer period than five years under a penalty of forfiture there of to the people of said County.
Sec 4 The Capital Stock of said Company Shall be one Hundred Thousand Dollars with power to increas the same at the pleasure of Said Company to any sum not exceading Three Hundred Thousand Dollars, which Capital Stock Shall be divided into Shears of Fifty Dollars Each. Provided that the Total amount of debt Said company Shall owe shall never excead the amount of thier Capital Stock and in case of such exsess those under whose administration it Shall Happin Shall be holden for the same in thier natural and private capasity But this Shall not be so Construed to exempt the Corporate property of the Company from being also Lyable and chargeable for such excess.
Sec 5. Subscriptions to the Capital Stock of said Corporation shall be opened under the direction of the diretors hereafter [...?], and and if more than one Hundred Thousand Dollars be subscribed they Shall distribit the Stock amongs the several subscribers in such manner as they may think that will best premotethe intrest of the Company. and it Shall be the duty of the directors to call for and for the time being to call for and demand of the Stockholders respectively respectivly all sums of
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money by them subscribed at such time and in such prepotions, as they shall see fit under the penilty of the forfiture of their Shares and previous payment maid their on to the said corporation always Givin Thirty days notice in sum Newspaper in the state, printed in or neaiest said TownSec 6. The Stock[,] property[,] and conserns of the said corporation Shall be managed and conducted by five Directors who shall at the time of their election
be holders respetivly of not Less then Fifteen Shares of the Capital Stock of Said Company Said directors Shall be chosen annully on the first mondays in June by the Stock holders or thier proxies which shall be by Ballot Each Share of the Capital Stock Shall be entitaled to one vote and the five persons receaving the Gratest number of votes shall be deamed duly Elected to hold thier office one year and untill others are elected to fill thier places, the directors so chosen or a majority of them shall constitute a Board and
be compitent to the Transaction of Buisness and may from time to time make and prescrib such bye Laws, rules[,] and regulations relative to the conserns of said Corporation the duties of the president and agent (Each of whome 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 imploid and Also shall appoint a Treasuer who shall Give Bond
...?] amount and in such manner as the said directors shall prescribe and the said directors
shall have power to appoint such other offices[,] agents[,] and clerks as may be nessary to carry on the Buisness of said Corporation
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to the president and directors in such [Sec 7 David Hailman[,] Peter Hailman[,] Lemuel B. Lisenbee[,] and Thomas Howard Shall be directors from the time this act takes effect and untill others are elected in their stead Four weeks preavis notice of an election after the first Shall be Given of the time and place of Holding
such election by publishing such notice onest in each week for four weeks emediately proseading such election in a news paper printed in or nearest said Town and such election shall be holden under the inspection of said directors.
Sec 8 The Corporation hereby Created shall Continue Twenty Years and no Longer.
Sec 9 The Company shall at all times Keep proper Books of accounts 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 anuel devidens or at Such other times as a majority of the directors may direct of so much of the
profits of said Company as to them or a majority of them Shall appear adviseable and the said directors when ever required by a majority of the stock Holders, Shall
exibit a a General meeting a full and perfict Statement
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of the debts and credits and all such other matters as shall be deamed asential relating to the affars of the Company.
Sec 10. The Stock not disposed of by the directors amajority of the Stockholders when ever they deame it nessary may call a special meeting of the Company and provided the regular elections shall not take place at the time herein provided
for it shall be Lawfull for any Two of the Stock holders to [...?] call a special election Giving notice of the time and place as herein provided.
Sec 11. 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 12. The Stock of Said Company shall be deamed personal property and asignable and transfurable on the Books of the Corporation But no Stock holder indebted to the Corporation shall be premitted to make a Transfer untill such debt be paid or secured to be paid to the satisfaction of the diretors.
Sec 13 That nothing in this act shall be so construed to invest said Companey with aney Banking priviledges or to autherise them to make emit or alter aney Bills of Credit Bank[,] notes[,]promisary notes[,] or other thing to be used as a circulating mediam as and in liue of money.
Sec 14 This act is hereby declared to be a public act
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and shall be so Taken and Liberally construed and Shall Take efect and be infore from and after its pasage.
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A Bill for an act To incorporate the Unity. Manufacturing Company
Handwritten Document, 6 page(s), Folder 425, SB 168, GA Session 10-1, Illinois State Archives (Springfield, IL) ,