Sec.[Section] 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That Lyman Scott, Orlando W. Ross, Thomas Odian, William A. Whiting, Richard Kerr, Elisha Petty, all of Pike county, Illinois, and their associates, successors and assigns are hereby constituted a body politic and corporate, by the name and style of “the Rock Port Canal Company,” and by that name shall have perpetual succession, with the right to sue and be sued, plead and be impleaded, to make and use a common seal, and the same to alter, break or change at pleasure, to contract and be contracted with, in all matters and things relating to their corporate powers or duties, as fully and effectually as a natural person, to purchase, hold and convey real and personal estate.

Sec. 2. The capital stock of said company shall be fifty thousand dollars, and divided into shares of fifty dollars each, to be subscribed for and owned as hereinafter directed.

Sec. 3. The said corporation shall have power to construct, and during its existence, to maintain, continue, and keep a canal from a point on the Mississippi river, above Louisiana, in Missouri, to the Snicarty above the Atlas Mills, in Pike county, Illinois; and to transport, take and carry upon the said canal, persons and property, to have, hold, use and enjoy the same, and the tolls and profits thereof during the existence of the corporation.

Sec. 4. The aforesaid persons are hereby appointed commissioners to receive subscriptions to the capital stock of said company, and they are authorised and required to open books at such time and place as they may think proper, and receive subscriptions to the said stock from all persons and bodies politic who may desire to subscribe for the same. They shall give notice of the time and place of opening said books and of the terms of subscribing, by publication in one or more newspapers printed in the state, at least twenty days before opening the same; and the books shall be kept open at each place of opening at least three days.

Sec. 5. Each person subscribing stock to the said company, shall be required to pay five dollars on each share of stock subscribed, or the subscription shall be invalid; Pravided, that the commissioners may take notes from the subscribers for the amount required to be paid as aforesaid, payable to said company at such time, and with such conditions as may be agreed on, and such notes shall be good and valid in law, and may be collected by the company according to the condition thereof.

Sec. 6. The immediate government and direction of said company and the management of its affairs shall be under the control and superintendence of five directors, to be chosen annually by the stockholders as hereinafter provided, and each and every successive body of directors shall continue in office until their successors are elected.

Sec. 7. If the whole of the capital stock of said company shall be subscribed during the time the books are required to be kept open, or if ten thousand dollars of said stock shall be subscribed, the said commissioners shall cause an election to be holden for the five directors of said company by the stockholders thereof; and the said commissioners shall act as judges and inspectors of said election. The election shall be holden at Atlas, in Pike county, and notice of the time and place of holding said election shall be given by a publication in some newspaper printed in the state, ten days previous to the day appointed for the same. If ten thousand dollars shall not be subscribed during the time the books are kept open as aforesaid, the commissioners are authorised to re-open the books at such time and place as they may think proper, and whenever ten thousand dollars shall be subscribed, the election for directors shall be held as herein required.

Sec. 8. Stockholders shall be entitled to one vote for every share of stock subscribed and owned at the time of voting.

Sec. 9. Whenever an election for directors shall take place, they shall assemble at some convenient place, and elect one of their body as president; they shall also appoint a treasurer and secretary; and it shall be the duty of the commissioners appointed to receive the subscriptions of stock, to deliver over to the directors the subscription books and all money and notes received by them for the use of the company. The directors first elected shall hold their offices for one year, and until their successors are elected.

Sec. 10. The directors of the company shall have and exercise all the powers conferred upon the corporation, and are authorised to employ all engineers, agents, servants and other persons necessary to carry on the business of the company; they are also authorised to cause the necessary surveys to be made of the route of the canal, and to construct said canal in such manner and form, and with such dimensions as to secure steamboat navigation from the Mississippi river to the Snicarty aforesaid, and to use the water of either or both of said streams for that purpose. They are also authorised to regulate the rate of tolls upon the said canal, to adopt by-laws for the regulation of the concerns of the company, to regulate the sala-

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ries and compensation of all officers and agents of the company, to require payment of stock subscribed by the subscribers in equal proportions, at such times and in such sums as may be required in the progress of the work, or for the use of the company. They shall also have power in case of default on the part of any of the stockholders in making payments upon their subscriptions, to declare the stock forfeited and all previous payments made thereon; to provide for disposing of all stock not subscribed for previous to their election, to regulate the time and manner of holding elections, the time and place of meeting for the transaction of business, to provide that stockholders in default to the company shall not be allowed to vote for directors, and to do all other acts and things necessary to carry into effect the object of this act, and the powers conferred and duties imposed upon the corporation.

Sec. 11. No person shall be a director who shall not, at the time of his election, own ten shares of the capital stock of said company.

Sec. 12. The said company may enter upon and use so much land as may be necessary in the construction and use of the canal; and if they shall be unable to agree with the owner of any land through which the canal may pass, upon the price thereof, or upon the amount of damages which such owner will or may sustain by reason of the making of the canal, it shall be lawful for said company to present a petition to the circuit court of Pike county, setting forth the fact that the line of the canal has been located upon and across the lands of the persons with whom the disagreement may exist, and asking the court to appoint three or more commissioners to examine the premises, and fix the price to be paid for the land, or the amount of damages which such owner will sustain by reason of the construction of the canal, which petition shall be filed in the clerk’s office of said court, and a summons issued thereon against all persons who are made parties to the same, as in cases of suits in chancery; and if the summons shall be served upon the defendants five days previous to the sitting of the court, the court shall appoint the commissioners according to the prayer of the petition. The commissioners shall be sworn before some person authorised to administer oaths, that they will faithfully and impartially execute the duties required of them, and shall, without delay, proceed to discharge the same. In ascertaining the price of land, or assessing damages, the commissioners shall take into consideration as well the advantages and benefits, as the disadvantages and injury which will or may accrue to the parties, and shall value land and assess damage accordingly.

Sec. 13. The commissioners shall make their report to the same term of the court at which they are appointed if practicable, otherwise at the succeeding term; and when the report is made, if no exception be taken to the same, the court shall make an order approving the same; and shall, moreover, make an order requiring the owners of land to convey to the company the land required for the use of the canal, or to release to the company all claim to damages by reason of the construction thereof, as the case may require, whenever the company shall pay the value of the land to be conveyed, or the damages, as fixed by the commissioners. And the court is hereby vested with the power to carry into effect and cause to be complied with all orders made in the premises. If exceptions be taken to any report of the commissioners, the court shall hear and determine the same in a summary manner, and if any report shall be set aside, the court may order the same commissioners to make another report, or may appoint others. The court shall allow any addition or amendment to be made to any report which may be necessary to a fair and final decision upon the same, or upon the rights of the parties interested.

Sec. 14. Guardians of infants, husbands of femes covert, or conservators of idiots or lunatics, are authorised to execute conveyances for lands and releases for damages; and such conveyances and releases shall operate as though executed by persons able and capable in law to execute the same.

Sec. 15. The president and directors shall divide among the stockholders in proportion to the amount of stock paid yearly or half yearly all profits arising or accruing to the company from the use of the canal. They shall also be bound to submit to the stockholders an annual report of the condition of the company and of the management of the business and affairs of the same.

Sec. 16. A majority of the commissioners appointed by this act, shall have authority to act and exercise all the powers and perform all the duties required of said commissioners.

Sec. 17. A majority of the directors shall constitute a quorum for the transaction of business; Provided, that the directors may prescribe by their by-laws limits to the powers of a quorum.

Sec. 18. The corporation shall be bound for all damages sustained by reason of the negligence or improper conduct of its agents.

Sec. 19. If any person shall, intentionally or negligently do any act whereby any lock, embankment or construction of any kind whatsoever, appertaining to said canal

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shall be in any wise injured, such person shall be liable to an action of debt for the same, and three times the amount of damages shall be recovered, and such person shall also be liable to an indictment, and upon conviction to be fined or imprisoned at the discretion of the court.

Sec. 20. The said corporation shall commence the construction of the canal within two years from the passage of this act, and complete the same within ten years, otherwise the corporate powers hereby conferred shall cease to exist.

Sec. 21. The capital stock shall be assignable and may be transferred in such manner and form as the directors may, in their by-laws direct, and the same shall be regarded as personal property, and shall be liable to be sold on execution.

Sec. 22. The mode of commencing snits against the corporation shall be by summons, and service thereof shall be by delivering a copy to the president or treasurer; Provided, that this act shall not be so construed as to authorise said company to hold any quantity of land, at any one time to exceed six hundred and forty acres, and that said corporation shall continue in force for fifty years, and no longer.

Approved 21st February, 1837.