Papers Of Abraham Lincoln

In force 21st July, 1837

AN ACT to incorporate the Alton Ferry Company.
1

Body corporate

Vested with rights

Sec.[Section] 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That Enos H. Harrison, John Ligerson, Wallace Ligerson, and Jeremiah A. Townsend, and such other persons as may associate with them for that purpose, be and are hereby constituted a body corporate by the name of the “Alton Ferry Company,” for the purpose of transporting, taking, and carrying property and persons across the Mississippi river, from the town of Alton to the opposite shore, by the power and force of steam, of animals, or of any mechanical or other power, or of any combination of them which the said corporation may choose to employ; and by that name they and their successors shall be and hereby are vested with all the rights and privileges of ferrying across the said river, and may have succession, and shall be persons in law capable of contracting and being contracted with, sueing and being sued, pleading and being impleaded, in all courts of law and equity, and in all manner of actions; and that they and their successors may have a common seal, and may change and alter the same at their pleasure.

Capital stock

Shares

Sec. 2. The capital stock of said company shall consist of twenty-five thousand dollars2, divided into two hundred and fifty shares3 of one hundred dollars each.

Place of meeting

Sec. 3. That the place of meeting for said company shall be at Alton.

Commissioners to obtain subscriptions to stock

Books to be opened

When subscription is complete

Sec. 4. That for the purpose of carrying into effect the object of this incorporation, Enos H. Harrison, John

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Ligerson, and Jeremiah A. Townsend, are hereby appointed commissioners to obtain subscriptions to the capital stock of said company; and said commissioners, or a majority of them, after giving general notice thereof in some paper printed in this state, may open books for the subscription of said stock, at such times and places as they may direct, and keep the same open till the said capital stock is subscribed. Every subscriber shall at the time of subscribing pay to the said commissioners the sum of one dollar for each share subscribed. When such subscription is complete, or within sixty days thereafter, said commissioners, or a majority of them, shall call a meeting of the stockholders at Alton, by a printed notice in some newspaper of general circulation within this state.

Election of directors

Term of office

Sec. 5. That at said meeting the stockholders of said company shall 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.

One vote for each share

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

Election to be annually

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

Quorum

Sec. 8. That immediately after the directors are chosen as above, they shall hold a meeting, at which, and at all subsequent meetings, a majority shall constitute a a quorum, and that they shall proceed to the election of a president from one of their number.

Power to make all by-laws

Sec. 9. That said president and directors shall have power, from time to time, to make all such by-laws, not inconsistent with the constitution and laws of this state, which may be necessary for the management and direction of the affairs of the said company.

Approved 21st July, 1837.4

1John Hogan introduced HB 35 in the House of Representatives on July 15, 1837. On July 19, the House amended the bill by striking out “10,000” in the second section, and inserting in lieu thereof “25,000.” The House passed the bill as amended. On July 19, the Senate tabled the bill. On July 20, the Senate amended the second section by striking out “100,” and inserting in lieu thereof “250.” The Senate passed the bill as amended. The House concurred with the Senate amendment on July 21. On July 21, the Council of Revision approved the bill and the act became law.
Illinois House Journal . 1837. 10th G. A., special sess., 73, 116, 131, 158, 174, 182; Illinois Senate Journal. 1837. 10th G. A., special sess., 95, 102, 108, 137, 141.

2On July 19, 1837, the House of Representatives amended the bill by striking out “10,000,” and inserting in lieu thereof “25,000.”
Illinois House Journal. 1837. 10th G. A., special sess., 116.

3On July 20, 1837, the Senate amended the bill by striking out “100,” and inserting in lieu thereof “250.”
Illinois Senate Journal. 1837. 10th G. A., special sess., 108.

4In February 1841, the General Assembly passed an act authorizing construction of a ferry from Alton to Missouri across the Mississippi, but included a section that made the provisions of the act null and void if the Alton Ferry Company by July 1841 employed a sufficient boat on said ferry.