Sec:[Section] 1. Be it enacted by the People of the State of Illinois represented in the General assembly. That Abiel Richardson, Orastus Hamblin[,] Rufus Colton[,] John M Crothers, Levi C. Barber[,] Calvin S Colton[,] Henry B. Barber[,] George Hartshorn[,] Newman S. Barber[,] Curtis Smith[,] Russell Huntley[,] Jacob Cox[,] Henry Madden[,] Phineas Stephens, Soloman Hollister[,] William N Fairbanks[,] Jessee A Martin[,] Cyrus S. Joiner[,] James Paisley[,] Luman Huntley[,] John Fryer[,] van Rensaeller Curtiss and William Thompson and their associates and successors shall be and they are hereby declared a body corporate and politic by the name and style of the Coltonville Steam and Hydraulic Manufacturing Company, from and after the passage of this act and by that name they and their successors shall have succession and shall in law be capable of sueing and being sued plead and being impleaded in all courts and places whatsoever, may have a common seal 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 uses and purposes of said incorporation: which real estate shall not exceed One Hundred and sixty acres of Land whereon to erect the necessary enclosures and for other purposes connected with the business of said Company.

Sec: 2. Be it further enacted that said company hereby created shall have power to erect mills and manufactories to be propelled by steam and water power at the village of Coltonville in the county of De Kalb, and they are hereby authorised to construct a dam on the branch of the Kishwaukee running near the

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said village (on the land or claim of William and Jessee A. Martin and to construct a road from said dam across the intervening lands so as to propel the various machinery of said Company,) and that the Company hereby created, shall have power to carry on the manufacturing of the various kinds of grain Wooll[,] Cotton[,] Hemp[,] Lumber[,] and other manufactories to export the same and other products of the Country and to use all such other powers and privileges as may be necessary to carry on the business of said Company.

Sec: 3. The Capital Stock of said Company shall consist of Three Thousand Dollars with the privilege of increasing the same to One Hundred Thousand Dollars to be divided into shares of Twenty Dollars each.

Sec: 4. For the purpose of carrying into effect the objects of this Corporation Abiel Richardson[,] George Hartshorn[,] Henry Madden[,] Levi C. Barber and Calvin S. Colton 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 may open Books for the subscription of said stock at such times and places as they may direct, and keep them open until at least One Hundred and Fifty shares are subscribed. Every person at the time of subscribing shall pay to said commissioners three Dollars for each share subscribed and when such subscription is completed as aforesaid or within sixty days thereafter said Commissioners or a majority of them shall call a meeting of the Stockholders at Coltonville by posting up notices in different public places in the county of De Kalb.

Sec: 5. At such meetings the stockholders of said company shall proceed to elect from their own body five directors who shall manage[,] direct[,] and govern the affairs of said Company, one year from the period of said election and until their successors are elected and qualified and that at said election each Stockholder shall be entitled to one vote for each share he or she may hold and a majority of all the votes given shall be required to make an election. The period of election of Directors as aforesaid shall be annually on the first Monday of the month in which the first election shall be held: Provided, always, That in case of the absence of any Stockholder the same may vote by proxy.

Sec: 6. Immediately after the Directors are chosen as aforesaid they shall hold a meeting, at which and at all subsequent meetings of the board a majority of the Directors shall constitute a quorum. And they shall proceed to the election of a President from their own body; A Secretary shall also be chosen from the body of the Stockholders who before entering upon the discharge of his duties shall take an oath before some Justice of the Peace or other person legally authorised to administer the same, for the faithful discharge of his duty and who shall record all votes and other proceedings of the Corporation in a Book to be kept for that purpose. A Treasurer shall also be appointed in like manner who shall take a similar oath and shall give Bond to such amount and in such manner as the said President and directors shall direct and the Board shall appoint all such other officers and agents as to them may from time ^to time^ appear necessary.

Sec: 7. Said President and Directors shall have power to make and establish such Bye Laws[,] rules[,] and regulations as shall be necessary and not inconsistent with the Laws of this State and the provisions of this act: and which may be necessary for the payment and collection of the subscriptions to its stock and take transfer of the same and of property or that may in any other way concern the management and direction of the affairs of said Company.

Sec: 8. If it should happen that any election should not be made the day on which by the provisions of this act it should be made the corporation shall not for that reason be dissolved, but such election may be held on any other day within thirty days thereafter, public notice being given by the directors thereof.

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Sec: 9. This act shall be deemed a public act and shall be construed favorably for the purposes therein expressed and declared in all Courts and places whatsoever.