Sec.[Section] 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That Daniel Wann and such other persons as he may associate with him be, and they are hereby, declared to be a body corporate and politic, for the term of twenty years, by name and style of “The Jo Daviess Mining and Smelting Company,” and, by this title, shall be capable of suing and being sued, of pleading and be impleaded, of defending and being defended, in all courts and places whatsoever; and may have a common seal, and may change the same at pleasure.

Sec. 2. The capital stock of said company shall be divided into not more than four thousand shares, of fifty dollars each; and the “Diggings” of the said Daniel Wann, at Vinegar hill, shall form a part of the capital stock; and the said company shall be authorized to purchase, hold, and convey any lands in the county of Jo Daviess, for the purpose of conducting their mining and smelting operations: Provided they shall not hold or possess during the continuance of this charter more than four thousand acres of land; and said operations of mining and smelting shall be confined to the limits of the present county of Jo Daviess; and all deeds executed by the president in the name of said company, or to said company by their corporate name, shall be sufficient in law to convey the title to the lands therein named. The business of said company shall be managed by five directors, who shall be annually elected on the first Monday in May, and shall hold their offices one year, and until others are elected: Provided, always, That no persons shall be elected as directors of said

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company, or hold such office of director, except he be a stockholder in said company.

Sec. 3. The president and directors of said company shall have power to appoint a treasurer, to hold his office during their pleasure, and such subordinate officers as they may deem expedient; and the duties and compensation of all such officers shall be determined by the president and directors.

Sec. 4. The president and directors shall have power to transact all business of the company, to wit: that of mining and smelting, and every thing connected therewith, by themselves or their agents; and shall, with a majority of the stockholders, have power to make such by-laws, rules, and regulations for the government of said company as they may deem proper: Provided such by-laws, rules, and regulations are not inconsistent with the constitution and laws of the United States or the laws of this State.

Sec. 5. The shares of said company shall be personal property, and shall be transferable in such manner as shall be prescribed by the by-laws of said company, and shall be liable to taxation to the same extent, and no greater, as other property is, and to be taken in execution in the same manner as any other personal property is or may hereafter be liable by law to be taken; and it shall be competent for the Legislature to prescribe the manner in which execution shall be levied thereon.

Sec. 6. This act shall be deemed a public act, and shall not be so construed as to confer any banking privileges, and shall take effect from and after its passage.

Sec. 7. That George W. Harrison and such other persons as shall become stockholders pursuant to this section shall be, and they are hereby, appointed a body politic and corporate, by the name and style of “The Buncombe Mining and Smelting Company,” and, by that name, shall have perpetual succession for twenty years, with the right to sue and be sued, plead and be impleaded; to make and use a common seal, and the same to alter 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. 8. This company orcorporation shall have the same amount of capital, perform all the duties, and be governed by all the restrictions and limitations contained in the second, third, fourth, fifth, and sixth sections of this act, so far as they can be made applicable to “The Buncombe Mining and Smelting Company,” in the county of Jo Daviess.

Approved, March 2, 1839.