Sec[Section] 1 Be it enacted by the people of the state of Illinois represented in the General assembly, That Isaac Galland, Franklin Wilcox and his associates & successors, be and they are hereby constituted a body politic and corporate under the name of the Commerce Hotel company to be [kno?] and by that name shall have power to contract & be contracted with, may sue and be sued[,] plead and be impleaded[,] answer and be answered, in all courts of competent jurisdiction; and may have a common seal which they may change or alter at pleasure

Sec 2 The said company shall have power & be capable of holding & purchasing in fee simple any estate real or personal necessary for the purposes of this incorporation and none other. Provided the quantity of real estate to be by them ^so^ purchased shall not exceed one hundred & sixty acres including the south west fractional quarter of section two in town ship six north in range nine west of the 4^th principal meridian, upon which said quarter section the said company are required to creat their hotel and other necessary buildings there with connected. They shall also have powe[r] to sell & convey any or all of said real esta[te] or to lease all or any portion thereof for any period not exceeding the limits of this charter

Sec 3 The capital stock of said company shal[l] be ten thousand dollars, which may be in-

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creased at the pleasure of said company, to any sum not exceeding twenty thousand dollars; which said capital stock shall be divided into shares of fifty dollars each & subscribed for and held in the manner herein after provided

Sec 4

The concerns of said company shall be managed & conducted by a board of directors to consist of three persons, who shall be stockholders in said company and who shall be chosen ^elected^ by ballot annually by the stockholders and their lawful proxies; and the three persons receiving the greatest number of votes, shall receive the certificates of the inspectors of the election so held, declaring them duly elected. The directors so chosen shall at all times constitute a board & be competent to the transaction of business and shall from time to time prescribe such rules & regulation[s] relative to the concerns of said company and the duties of the officers thereof and other persons employed by them, as they shall deem proper

Sec 5 The said board shall at their first meeting after their election, which meeting any two members of said board may call, elect a president & Secretary & treasurer who shall continue in office one year. The treasurer shall give bond in such manner and in such time amount as the said direc-tors shall prescribe. And the said direc

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tors shall prescribe. And the said directors shall have power to appoint such other [a]gents as they may deem necessary in carrying on the business of said corporation. Provided such rules & regulations shall not be repugnant to the constitution & laws of the United states or of this state

Sec [6?] Isaac Galland & Franklin Wilcox shall be commissioners for the purpose of opening books for the subscription of ^the^ capital stock of said company, within one year after the passage of this act, in such places and at such times as in their opinion may be proper. Twenty days notice shall be given of the times & places of receiving such subscription^s^, by said commissioners, in some newspaper or newspapers in or nearest such places, and of the number of days which said books will be open for subscription to the capital stock of said company

Sec 71 The commissioners shall receive no subscription^s^ to said stock unless at least five dollars on each share subscribed shall be paid at the time so subscription and when the whole amount of the capital stock shall be subscribed, the said commissioners shall give a like notice of twenty days for [a?] meeting of the stockholders for the purpose of choosing three directors, designating the time & place of holding such election. At which

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election persons holding stock in said company shall be permitted to vote either in person or by lawful proxy. The said commissioners shall be inspectors of the first election for directors, and shall be inspectors of the first election for directors, and shall certify under their hands the names of those duly [elected?] and shall deliver over the subscription [books?] and the amount of money received on subscriptions to said directors so elected The stock of said corporation shall be considered Sec 7 personal property and assignable and transferrable on the books of the corporation

Sec 8 The said company shall at all times keep proper books of account, 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 annual dividends or at such other times as a majority of the directors shall direct, of so much of the profits of the said company as to them or a majority of them, shall appear advisable, and the said directors [?] whenever required by a majority of the stockholders, exhibit at a general meeting a full & perfect statement of the debts & credits and all such other matters as may be deemed essential in relation to the business of said company

Sec 9 The stock, not disposed of by the commis-

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sioners in the manner hereinbefore mentioned, shall and may be issued by the directors for the time being, according to the rules & regulations of said company

Sec 10 as soon as five thousand dollars of the capital stock of said company shall be subscribed by responsible persons and ten per centum on said sum ^so to be^ subscribed actually paid to said company, or the commissioners above named, then and not before shall said company be authorized to organize themselves and proceed to business

Sec 11 The said company are also authorized to establish & keep a ferry for the term of ten years, across the missisippi river from said fractional quarter section, They being required to furnish for that purpose within one year from the passage hereof a good & sufficient boat or boats, and ^to^ comply in all respects with the law as though the said ferry had been established by the order of the county commissioners court of Hancock county; and the said company shall receive such rates for crossing at said ferry as shall from time to time be allowed them by said court

Sec 12 This act is hereby declared public and shall take effect from and after its passage and remain in force during the

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term of twenty years, except that portion of it which relates to the ferry privilege nothing in this act shall be so construed as to exempt the said corporation from the operation of the laws of this state regulating taverns