said company shall organize and proceed to business within Company to be two years after the passage hereof. The said company ther legisla- shall be subject to the provisions of any law hereafter passed on the subject of banking, trust or deposit companies. subject to fur tion. § 13. This act shall take effect and be in force from and after its passage, and shall be a public act. APPROVED March 8, 1867. In foroe April 5, 1867. ers. AN ACT to incorporate the Illinois Land and Loan Company. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That Cephas Clapp, John C. Bigelow, Levi Kelsey, L. B. Shattuck, Henry C. Reed and Wm. Kelsey Reed, and all such persons as shall hereafter become stockholders in the company hereby incorporated, shall be from and after the passage of this act, a body politic and corporate, by the name and style Name and style. Of "The Illinois Land and Loan Company," and by that name and style shall be capable of suing and being sued, Corporate pow- impleaded, answer or defend in law or equity in all courts or places whatsoever; make and use a common seal, and to alter or renew the same at pleasure, and by their said corporate name and style shall be capable in law of contracting and being contracted with, and shall be and are hereby invested with all the powers, privileges, immunities and franchises of acquiring by purchase or otherwise, and of holding and conveying all real and personal estate which may be needful or convenient for carrying into effect fully the objects and purposes of this act; and may receive and make all deeds, transfers, covenants, conveyances, grants, contracts, agreements and bargains whatsoever for such purposes, and generally may do every other act or thing to carry into effect the provisions of this act and promote the objects and designs of said company as by this act authorized. Real estate. Deeds. § 2. The said corporation is hereby authorized and empowered to improve in such manner as shall be conformable to the laws of this state, and not contrary to or inconsistent with any of the rights or privileges of the city of Chicago or of any citizen of this or of the United States or other person, such portions of the following described lands and property as said company shall acquire title to, situate in the county of Cook and state of Illinois, to-wit: The east half of the southwest quarter and the west half of the southeast quarter of section twenty-five, in township thirty-nine north, range thirteen east of the third principal meridian, and any other lands and appurtenances which may belong to said company, by laying the same out into lots, streets, squares, lanes, alleys and other divisions, and by surveying, locating, constructing, altering, maintaining and operating Alterations. one or more slips or canals, and to connect such slips or canals with the south branch of the Chicago river, or to improve the same in any manner it may deem advisable, in such a way as not to injure the navigation of the said river; and to make, purchase and dispose of bonds and other obli- Bonds. gations of indebtedness in the same manner and to the same extent as individuals are or may be authorized to do, and to borrow money upon such terms and at such rates of inter- To borrow est, not exceeding ten per cent. per annum, as the said company may deem proper; to lend any moneys received from Rates. rents or other sources, on real, personal or other security at any rate of interest not exceeding that now allowed by law to individuals, and generally to do whatever may be expedient for accumulating and increasing its moneys, funds or other assets for the benefit of said company or other parties, as it may deem advisable. money. Security for. 3. The capital stock of said company shall be one Capital stock. hundred thousand dollars, which may be increased from Amount. time to time to any sum not exceeding one million dollars, Limit. or diminished at pleasure, divided into shares of one hun- Shares. dred dollars each, which shall be deemed personal property and may be issued and transferred in such manner as may be ordered and provided by the board of directors, who Directors. shall have power to require the payment of the sums subscribed by stockholders, in such manner and on such terms Stockholders. as they may think proper; and on refusal, neglect or default Neglect of. on the part of the stockholders or any of them, to make payment as, and when required by the board of directors, the said company may sue for and collect the same, or may, after four weeks' notice thereof in some newspaper published in the city of Chicago, sell the shares of such delinquent Delinquents. or delinquents, at public auction, to the best advantage, under such rules as the board may adopt; the surplus money, if any remaining after deducting the payments due, with the interest and costs of sale, to be held by said company payable to the order of such delinquent stockholder or stockholders, or his or their legal representatives. tors. tion. 4. The corporate powers of said company shall be Board of direc vested in a board of directors, and such officers and agents as such board shall appoint. The board of directors shall consist of not less than five nor more than ten persons, who shall be stockholders in said company, such directors to be chosen annually by ballot, and the name and number of Manner of elecshares owned by each stockholder so voting shall be indorsed on the ballot, each share having one vote, which may be given in person or by proxy; a plurality of votes shall elect; a failure to hold the annual election shall not work a forfeiture of this charter, or of any of the rights and Vol. I-9 Vacancies. ow filled. Bonds. When election shall be had. Money. Notice. privileges herein granted, and in all cases the existing board of directors shall continue in office until their successors are elected and qualified; vacancies in the board may be filled at any time by vote of two-thirds of the directors remaining, such directors to continue in office until their successors are elected and qualified. The officers of said board and the officers, agents, servants and employees of said company, whether members of the board of directors or otherwise, may be appointed, employed, paid and dismissed under such rules and regulations, and may be required to enter into such bonds as the board of directors may from time to time adopt and direct; all future elections shall be held at such time and place and in the manner which may be prescribed by the by-laws and regulations of the said company. 5. The election of directors shall be had by the stockholders when fifty thousand dollars shall have been subscribed to the capital stock, of said company and five per cent. paid thereon. Any three of the corporators herein Commissioners named shall be commissioners to open books for subscripto open books. tions to the stock of said company and each subscriber shall pay to such commissioners or their agents at the time of such subscription five dollars on each share by him subscribed. The money so received by the commissioners shall be paid over to the directors when elected and qualiHow disposed of fied. When the sum of fifty thousand dollars shall have been so subscribed, the commissioners so acting or a majority of them shall call a meeting of the stockholders to choose five stockholders as the first board of directors of said company by giving at least two weeks' notice in some Time and place. newspaper published in the city of Chicago, of the time and place of holding such meeting, and shall attend and act as inspectors of said election at such meeting. They shall certify the result of said election under their hands, which Result of elec- certificate shall be recorded in the record book of said company, and shall be sufficient evidence in all places of the election of the directors therein named. When the board of directors are so chosen the said company may enter upon, enjoy and continue in the benefits and provisions of this act, exercise the powers herein conferred, and be considered as fully organized. The directors shall appoint one of their number president, and may make and execute such by-laws as may be convenient and necessary for the proper prosecution of the business of the company: Provided, the same be not repugnant to the laws of the United States or of this state or to this act. tion. Organization. President. Proviso To borrow money. Rates. Bonds 6. The said company shall have power to borrow, or obtain on loan, any sums of money and on such terms as they may deem expedient for said company, and issue notes or bonds for the same, secured by mortgage on the property of the company or otherwise. And the directors of ible. said company may confer on any bondholder of any bond Bonds convert- 7. This act shall be deemed a public act and shall take effect and be in force from and after its passage. APPROVED April 5, 1867. AN ACT to incorporate the Journeymen Plasterers' Benevolent and Pro- In force Februtective Association of the City of Springfield, Illinois. ary 21, 1867. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That George Name. Butler, James Butler, Peter Moffatt, Joseph Anderson, Jonathan I. Marr, Benjamin F. Munson, Jacob Matler, and William Matler, and their associates, are hereby constituted a body corporate and politic, by the name and style of "The Journeyinen Plasterers' Benevolent and Protective Society;" and, by that name shall have perpetual succession; and shall have power to contract and be contracted Powers. with, to sue and be sued, to plead and be impleaded, to have and use a common seal, and to do and perform all such acts and things as are or may become necessary for the furtherance and advancement of the purposes of said corporation as fully and completely as natural persons might or could do. purposes. 2. The objects and purposes of said corporation shall objects and be the mutual benefit and protection of its members, to extend relief to them in sickness or infirmity, and to bury deceased members. §3. The officers of said corporation shall be a president, vice president, recording secretary, corresponding secretary and treasurer, who shall be elected semi-annually, and by ballot, at the first regular meeting in the months of January and July in each year. 4. In case of any vacancy of either of said officers, officers. by death, resignation, or otherwise, the association shall have power to fill such vacancy by appointment, by the vote of a majority of the members present at the meeting; and said officer so appointed shall hold the same office until the next semi-annual election of officers. 5. Any operative plasterer of good moral character Vacancy. may become a member of said corporation, upon such terms and conditions as may be prescribed by the by-laws of said corporation; and said corporation is hereby authorized to establish and enforce such rules, regulations and by-laws, estate. for the management of their business, as they may deem proper, and repeal, alter and amend the same at their pleasure. May hold real 6. The said corporation may receive, take and hold either by gift, purchase, devise, bequest, or otherwise, any real or personal estate, for the use of and for the advancement of the purposes of said corporation; and may rent, lease, sell, convey or in anywise dispose of the same, according to the by-laws of said corporation: Provided, such real Amount of per- and personal property shall not exceed in value twenty-five sonal property thousand dollars. 87. This act to take effect from and after its passage. APPROVED February 21, 1867. In force Feb. 21, AN ACT to incorporate the Preachers' Aid Society of the Rock River 1867. Corporators. Conference of the Methodist Episcopal Church. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That Luke Hitchcock, Ezra M. Boring, Otis H. Tiffany, William D. Skelton, William F. Stewart, Charles H. Fowler, George J. Bliss, and their associates and successors, are hereby constituted a body corporate and politic, by the name and Name and style style of "The Preachers' Aid Society of the Rock River Conference of the Methodist Episcopal Church;" and by such name shall have perpetual succession, with power to contract and be contracted with; to sue and be sued, and to implead and be impleaded; to take and hold, by gift, grant or otherwise, any property real, personal or mixed, and the same to manage, grant, convey, lease or otherwise dispose of; and to execute such trust or trusts as may be confided to said corporation for the promotion of the objects of this incorporation. Objects. Officers. § 2. The objects of this corporation are to afford immediate relief to the families of the deceased members of the society, and to increase the disciplinary revenue for the support of the claimants of the said conference. 3. Ezra M. Boring shall be president, and William D. Skelton shall be secretary and treasurer; and the said Luke Hitchcock, Otis H. Tiffany, William F. Stewart Charles H. Fowler and George J. Bliss, shall, with the said president and secretary, be the first board of managers of said society, and shall hold their offices until their successors shall be elected at the time and in the manner specified by the constitution of the said society. |