Papers Of Abraham Lincoln

In force, Feb.[February] 1, 1840.

AN ACT to incorporate the St. Clair Steam Mill Company.
1

Body politic & corporate

Name and style

Powers

Sec.[Section] 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That Laurant Pensaneau, Wm. C. Carr, John Barkley and David Reverdy, their associates, heirs and assigns, are hereby constituted and declared a body politic and corporate, by the name and style of the “St. Clair Steam Mill Company,” from and after the passage of this act; and by that name and style they and their successors shall

<Page 2>
have succession for ten years, and shall, in law, be capable of suing and being sued, pleading and being impleaded, answering and being answered unto, in all courts and places whatsoever; may have a common seal, and may change and alter 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 real and personal estate for the use and purposes of said corporation; which real estate shall not exceed one hundred and sixty acres, whereon to erect the mill and necessary inclosures for carrying on the business of the said company.

Location

Sec. 2. The said company, hereby incorporated, shall have power to erect a steam mill at or near Illinois town, in the county of St. Clair, and are hereby authorized to carry on the manufacturing of the various kinds of grain and other manufactures, to export the same and other products of the country, and to use all such powers and privileges as may be necessary to carry on the said manufactory according to the objects of this act as herein expressed.

Capital stock

Sec. 3. The capital stock of said company shall consist of ten thousand dollars, with the privilege of increasing the same to twenty thousand dollars, to be divided into shares of one hundred dollars each.

Annual election

Records

Treasurer to give bond

Officers and agents

Sec. 4. Said company shall meet annually on the first Monday of April, and elect a president and secretary, who shall be sworn by a justice of the peace to the faithful discharge of his duties, and who shall keep a record of the proceedings of said company in a book to be by him kept for that purpose; a treasurer who shall give bond to such amount and in such manner as the saidcompany shall direct; and said company shall appoint such other officers and agents as may be necessary to carry into effect the powers herein granted.

Sec. 5. Said company shall have power to make and establish all such by-laws, rules and regulations, as shall be necessary, and not inconsistent with the constitution and laws of this State or of the United States; and the provisions of this act for the transfer or payment of the stock or property of said company, and for the management and direction of the affairs of said company.

Each share entitled to vote

Sec. 6. If it should happen that any election should not be made or held on the day appointed by the provisions of this act, the said company shall not for that reason be dissolved; but such election may be held on any other day within thirty days thereafter, notice being given by the president, secretary, or any two members of said company; and at all elections and proceedings of said company, each shareholder shall be entitled to as many votes as the number of shares he or she may have in said company.

Approved, February 1, 1840.

1On January 15, 1840, Representative Joseph G. Bowman introduced HB 144 in the House of Representatives, and the House referred the bill to a select committee. On January 17, the select committee reported the bill without amendment, and the House concurred with the select committee. On January 27, the House passed the bill. On January 30, the Senate passed the bill. On February 1, the Council of Revision approved the bill and the act became law.
Journal of the House of Representatives of the Eleventh General Assembly of the State of Illinois, at Their Called Session, Begun and Held at Springfield, December 9, 1839 (Springfield, IL: William Walters, 1839), 180, 195, 228, 259, 300, 309, 328; Journal of the Senate of the Eleventh General Assembly of the State of Illinois, at Their Called Session, Begun and Held in Springfield, December 9, 1839 (Springfield, IL: William Walters, 1839), 189, 213.