Sec.[Section] 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That John D. Owings, David Hailman, James M. Wheeler, S. H. Cander, Miles A. Gilbert and William Brewster, and their associates, successors and assigns, be, and they are hereby declared to be a body corporate and politic for the term of twenty years, from and after the passage of this act, by the name and style of the “Kaskaskia Beet Sugar Manufacturing Company,” and by that name and title shall be capable of suing and being sued, of pleading and being impleaded, of contracting and being contracted with, of defending and being defended in all courts and places whatsoever, and may have and use a common seal, the same to alter and renew at pleasure.

Sec. 2. The capital stock of saidcompany shall be one hundred thousand dollars, with the power of increasing the same from time to time, as a majority of the stockholders may deem proper, to any amount, not exceeding in the whole the sum of three hundred thousand dollars, divided into shares of twenty dollars each, and each share shall be entitled to one vote.

Sec. 3. The said company shall have power to enter into and carry on the cultivation of beet and other saccharine vegetables, and manufacture sugar therefrom, and export their products and manufactures to erect mills, works, machinery, and such other buildings as may be necessary for the manufacture of sugar; to purchase, hold and convey any property, real, personal, or mixed, in the county of Randolph, which may be necessary to enable the said company, properly to carry out the expressed objects for which they were incorporated: Provided, That the quantity of real estate to be held by said company shall not exceed six hundred and forty acres.

Sec. 4. The business and affairs of said company or the corporation hereby created, shall be managed and governed by not less than three, nor more than five directors, as the stockholders, at their annual meetings, shall from time to time declare. One of the directors shall be elected president of the board, who shall also be elected president of the company.

Sec. 5. The president and directors of said company or a majority of them, may elect a treasurer, secretary and such other officers as they may deem necessary to carry into effect, the objects and intent of this act; may make, execute and adopt such by-laws, rules, regulations and ordinances as they may think proper: Provided, said by-laws are not inconsistent with the laws of this State or of the United States.

Sec. 6. The shares in said company shall be deemed personal property, and shall be transferrable in such manner as shall be prescribed by the by-laws of said company; any two of the individuals named in the first section of this act, are hereby authorized to open books for the subscription of said stock in the town of Kaskaskia at such place as may be appointed, by giving not less than five days notice of the time and place of such meeting in some newspaper in the county of Randolph, or by said notice being stuck up on the court house door of said county.

Sec. 7. This act shall be deemed a public act in all courts and places whatsoever, and shall be in force from and after its passage.

Sec. 8. That Miles A. Gilbert, James M. Wheeler, John D. Owings, William Brewster, and such other persons as shall become stockholders pursuant to this section, shall be and they are hereby declared to be a body corporate and politic, by the name and style of the “Randolph Silk Manufacturing Company,” and by that name, they and their successors shall have succession for the term of twenty years, with the power to sue and be sued, plead and be impleaded, defend and be de-

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fended, in all courts and places whatsoever; to make, have and use a common seal, the same to alter and renew 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 estate, personal or mixed, to cultivate the different varieties of the mulberry, to manufacture silk therefrom; also, to manufacture all kinds of cloths, whether made of silk, flax, or wool, and to export the same; to erect cocoonries, machinery, mills, and such other buildings as may be necessary to carry into effect the objects and meaning of this act.

Sec. 9. This company or corporation 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, sixth and seventh sections of this act, so far as they can be made applicable to the “Randolph Silk Manufacturing Company.” The corporate existence of the said “Randolph Silk Manufacturing Company” shall cease at the expiration of twenty years from the passage of this act.

Approved, February 1, 1840.