The Cairo evening bulletin. (Cairo, Ill.) 1868-1870, 1869-08-27
MANUFACTURING IN CAIRO.


There are no branches of business that
could be pursued moro profitably or ex-
tensively ut this point than the docking
and repairing Of steamboats, and the
manufacture of wooden and cotton goods,
machinery etc. This is o fact that no
well Informed man can for q moment
question. -..-,,,. 49,.
We present below the most prominent
provisions of an act of the legislature
approved Feb. 10. 1867, authorizing the or.
ganization Of companies for manufactu-
ring purposes, hoping that publication
Of them Will hsye the effect Of drawing
pubic attention to the opening now pre-
ssnted BY Cairo In that particulars.
Any three or more persons who may
desire 10 form company for the purpose
oteassying on sDy manufacturing, mi.
ning q uechspical branch Of business,
shall Drepare accrtiHcate In which they
shall state the name ofthe company, the
object Of Its formation, the amount Of
capital 10 be employed, the number Of
ofshsres ofstock, etc, which certificate
must be duly acknowledged, and one
copy filed with the clerk of the circuit
court and another with the secretary Of
the state. q,
The capital stock shall not be less than
$1,000 nor moro than 100000. The
term Of the company's existence may be
nfty years.
The clerk Of the court shall, after the
certificates have been filed, issue II.
senss - the company, upon the recep.
ton Of which they shall be considered .
BODY polite and corporate, with the
usual powers Of succession, rights at law,
etc, privilege TO hold, buy and sell real
estate, personal property, chooses in ac-
ton and securities, negotiable or other.
wise.
The Affairs OF the company shall be
managed bya boardsof not less than
three nor more than seven directors who
must be stockholders, and elected an.
nuslly. The directors may make bylaws
and appoint Officers, agents and servants
as the business Of the company may re.
quire, and Ok their duties and compensa.
ton. Any director may be expelled by
. vote Of two-thirds Of the board.
stockholders may vote on oil questions
and occasions either personally or by
proxy. Each snare Of stock shall repre-.
cent one vote.
Vacancies oecasionsd In the board Of
directors by death, resignation or other.
vice, shall be filed by the remaining
directofs. o.
The capital stock shall be regarded as
peDonal estate, and shall be transferable
on the books Of the company. Stock
shall Be paid - the board OF directors
may require, and forfeiture may follow Q
refusal to pay.
Stockholders shall be severally individ.
ually liable 10 the creditors Of the com.
pany 70 amount equal to the amount Of
stock held by them, for all debts and
contracts made by the company prior TO
the time when the whole amount OF its
stock shall have been paid In.
Within thirty days amer oil the stock
is paid In majority Of the directors
shall make certificate setting forth the
amount Of the stock and the fact of Its
paymsntin full and shall hle the same
with the circuit clerk ,.nw
The directors are restrained from de-
clsring dividends when the company IL
insolvent, or when the dividend would
diminish the amount of the capital
stock.
Money or any property or material
necessary In the prosecution Of the bust.
ness Of the company may be received In
payment Of stock Ut its cash valuation,
to be fixed by two competent and disinter.
be ested persons, one to be chosen by the
company and the other by the party
whose property Is to be appraised.
The company is prohibited from loan
ing money TO any Of Its stockholders.
Executors, administrators or guardians
may represent the stock In their hands
and vote upon II. Stockholders may
pledge or mortgage their stock and still
vote the shares the mortgsged or pledged
stock represents.
The stockholders may increase OF d.
minish their stock, as the interests Of the
company may demand, or enlarge or
contract their business, and are not con-
fined to any particular branch, but may
persue any or all contemplated In the
act. The capital stock cannot be dimin.
ished to sum less than outstanding debt
Of the company, without first diminish
ing the debtsso that they shall not exceed
the diminished amount ofstock.
A vote Of two thirds of the ftockhhold-
ers Is necessary to adopt any proposition
to increase or diminish the stock or