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 herein after described, Shall be and they are hereby constituted and declared a Body politic and corporate by the name and style of the “Wappello Manufacturing company” from and after the passage of this act, and by that name, they and their successors shall have succession ^for twenty five years^ and shall in Law be capable of suing and being sued pleading and being impleaded, in all courts and places Whatsoever; may have a common seal, alter and change the same at pleasure, and they and their Successors may ^also^ by that name and style be capable in Law of purchasing[,] holding[,] and conveying away such real and personal estate as may be necessary for the purposes and objects of this act, as herein after limited and set forth provided such real estate shall not exceed six hundred and forty acres of Land with the buildings and improvements thereon erected for carrying on the Buisness of the Said companywhich Land shall be exclusive of such as may be held for collateral security for debts, bona-fide owed to the said corporation, or may become the property thereof by virtue of such indebtedness, and further, no real estate acquired by such indebtedness shall remain the property of said corporation for a longer period ^than^ five years, under the penalty of the forfeiture thereof to the people of this State

Sec 2 The President ^and^ Directors [...?] of said corporation, herein after provided for shall

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have power and are hereby authorised to carry on the manufacture of Flour[,] Lumber[,] Lead, woolen & cotton goods and to carry on all kinds of mechanical and manufacturing buisness, to erect mills, furnaces, and machine shops, at and near the falls of Apple River in the Town of Wappello Jo Davis County, necessary for carrying on the manufactures aforesaid To give and receive promisory notes and to do and perform ^all necessary^ such acts as natural persons

Sec 3 The capital Stock of the said company shall be one hundred thousand Dollars with power to increase the same at the pleasure of the company to any sum not exceeding two hundred thousand Dollars which capital Stock shall be divided into shares of fifty Dollars each to be paid in instalments under the directon of the Board of directors subject to such forfeitures as the board ^of Directors shall direct prescribe^

Sec 4 That for the purpose of carrying into effect the objects of this Incorporation James Armstrong[,]William Craig [,] Germanicus Kent[,]Daniel Whitney [,] John Atchison[,] Daniel Wann, Marshall Pierce, William B. Goss[,] ^Charles Oakley[,] M. M. Rawlings[,] and James Craig^ 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 Newspaper printed in the Town of Galena, may open books for the subscription of said stock at such time and places as they may direct, and keep the same open until at least two hundred shares of the capital stock is Subscribed. If the requisite number of shares ^shall not be^ subscribed within thirty days after the Books are opened. Said commissioners or a majority of them shall take such measures for completing such subscriptions as they may deem

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expedient and proper. Every subscriber shall at the time of Subscribing pay to said commissioners the sum of One Dollar on each share subscribed, and when the said subscription is completed or within sixty days thereafter, said commissioners or a majority of them shall call a meeting of the stockholders at the Town of Wappello by a printed notice in some newspaper of General circulation in Jo Davis County

Sec. 5. That at said meeting the stock holders of said company shall proceed to elect ^by Ballot^ five directors (each share giving one vote) who at the time of their election be holders respectively of not less than twelve shares of the capital stock of said company, and directors shall be annually chosen thereafter by stock Holders or their proxies, and the five persons receiving the highest number of votes shall be duly elected to hold their offices one year and until their successors are elected and qualified. The Directors so chosen or a majority of them shall constitute a Board and be competent to the transaction of Buisness and may after electing one of their number to preside at ^over^ the Board, 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[,] agent, Clerks and all others by them employed, and shall also appoint a Treasurer who shall give bond to the President and directors in such amount and in such manner as the said President and directors shall prescribe; and the Said President and Directors shall have power to appoint all such officers[,] agents[,] & clerks as may be necessary in carrying on the buisness of the said corporation

Sec[Section] 6. The said company shall at all times keep

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proper books In which shall be registered all the transactions of the Board and of the corporation and the same shall at all times be subject to the inspection of the Stock holders, and it shall be the duty of the President and directors to make anual dividends or at such other times as the Board may direct of so much of the profits of the said corporation as to them shall appear advisable

And the said President and directors whenever required by a majority of the stock holders, shall exhibit at a general meeting of the [...?] a full and perfect statement of the debts and credits, and all such other matters as may be deemed essential relating to the affairs of the corporation

Sec. 7. A majority of the stock holders whenever they deem it necessary may call a special meeting of the company, And provided the regular election for Directors from any cause shall not take place at the time herein provided, it shall be lawful for any two of the stock holders to call a special meeting for such election giving notice of the time as herein provided

Sec. 8. The stock not disposed of by the persons appointed to receive subscriptions in the manner herein before named shall and may be Issued by the directors for the time being according to such bye Laws and regulations as may be adopted by the said board of directors

Sec. 9. The President and directors are authorised to borrow any sum [not exceeding?] of money which in their discretion may be deemed necessary not exceeding the amount of their capital stock to aid in the construction of the said mills, manufacturing Establishments[,] and machinery, and

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if it shall at any time appear to the Board of Directors that any part thereof or any surplus funds is not necessary to be retained, the same may be loaned on such terms as the President and directors may deem proper, not however at a higher rate of Interest than that now allowed by the Laws of this State
provided that the Total amount of debts which the said corporation shall at any time owe shall not exceed the amount of their capital stock; And in case of such excess those under whose administration it shall happen shall be holden for the same in their private and individual 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. 10. The stock of the said corporation shall be deemed personal property and assignable and transferable on the Books of the corporation. But no stock holder indebted to the corporation shall be permitted to make a transfer until such debts be paid or secured to be paid to the satisfaction of the Directors

Sec. 11. That nothing in this act shall be construed to invest said company with any Banking powers or to authorise them to make, emit, or utter any bills of credit, Bank notes, or other thing to be used as a circulating medium, as and in lieu of money