Sec.[Section] 1. 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 hereinafter described shall be and they are hereby constituted and declared a body politic and corporate, by the name and style of the “Lawrenceville Manufacturing Company,” from and after the passage of this act; and by that name they and their successors shall have perpetual succession, and shall in law be capable of suing and being sued, pleading and being impleaded in all courts and places whatsoever; they may have a common seal, and alter and change the same at pleasure; and they may be capable in law of purchasing, holding, and conveying such real and personal property as shall or may be necessary for the purposes and object of this act as hereinafter limited and set forth: Provided, That the real estate, owned by the company at any one time over and above the lots of land on which their buildings may be erected, shall not exceed one thousand acres, except such as may be held by them as collateral security for the debts bona fide owed to the said company, or may become the property thereof by virtue of such indebtedness; and further, no real estate, acquired by virtue of such indebtedness, shall remain the property of the said company for a longer period than five years, under the penalty of a forfeiture thereof to the people of this State.

Sec. 2. The president and directors of said company hereinafter provided for shall have power to carry on the manufacture of grain, and other agricultural products in the county of Lawrence; and to erect mills and such other buildings as may be necessary to carry on their business; and to enter into all contracts which may concern the use and management of said property that may be necessary and proper to carry into effect the object of this grant.

Sec. 3. The capital stock of said company shall consist of fifty thousand dollars, divided into one thousand shares of fifty dollars each.

Sec. 4. That, for the purpose of carrying into effect the objects of this incorporation, Samuel H. Club, James Nabb, Abner Green, John Micure, David B. Marney, John C. Reiley, Wm. G. Anderson, Benjamin McClieff, George W. Kinkade, John Robinson, John McClieff, John Fail, Jeremiah Robinson, and Nicholas Johnston are hereby appointed commissioners to obtain subscriptions to the capital stock of said company, and said commissioners, or any four of them, after giving general notice

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thereof in some paper printed in this State, may open books for the subscription of said stock at such time and places as they may direct, and keep the same open till at least two hundred and fifty shares of said capital stock is subscribed. If the requisite number of shares shall not be subscribed within sixty days after the books are opened, said commissioners, or a majority of them, shall take such measures for completing such subscription as they may deem expedient and proper. Every subscriber shall at the time of subscribing, pay to said commissioners the sum of one dollar for each and every share so subscribed, and when such subscription is completed, or within sixty days thereafter, said commissioners, or a majority of them, shall call a meeting of the stockholders at Lawrenceville by a printed notice in some newspaper of general circulation nearest to said place.

Sec. 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, and until their successors, who shall be vested with the same authority, are elected.

Sec. 6. And at said election each stockholder shall give one vote for each share of stock he may hold, and a majority of all the votes given shall be required to make an election.

Sec. 7. That the period of election shall be annually the first Monday in the month in which the first election was held.

Sec. 8. That immediately after the directors are chosen as above, they shall hold a meeting, at which and 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 duties, and 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 in such amount and in such manner as the said president and directors may direct, and such other officers and agents as may by them seem necessary for their regular government.

Sec. 9. The said president and directors shall have power from time to time to make all such by-laws and rules not inconsistent with the constitution and laws of this State, which may be necessary for the payment or collection of subscriptions to its stock, and the transfer of the same, the conveyance of property, or that in any other way may concern the management and direction

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of the affairs of said company in carrying into effect the provisions of this act.

Sec. 10. This act is declared a public act to be and remain in force for the term of twenty-five years from and after the date of its passage: Provided, That if said company shall not have been organized and business commenced within two years from July next, this act shall be void and of no effect.

Approved 2d March, 1837.