CHAPTER 505. AN ACT to incorporate the Janesville city lumbering and manufacturing company. The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Corporators.	SECTION 1. R. A. LOVELAND, R. B. TREAT, L. F. PATTEN, W. G. ROBERTS and S. C. HACKETT, their successors, associates and assigns, are created a body politic and and corporate, by the name and style of the "Janesville lumbering and manufacturing company," and by that name shall have perpetual succession, may contract and be contracted with, sue and be sued, defend and be defended, in all courts and places of law and equity, in this state or elsewhere, and have a common seal, and alter the same when necessary, and may have and use and exercise all the power incident to corporations.
Powers.	SECTION 2. The said company shall have power to make lumber of all kinds and to manufacture the same; to mine for iron ore, lead ore, copper ore, coal ore, or to make charcoal on any lands it may own or become in possession of by purchase or lease in this state, or the states of Indiana, Michigan or Illinois, and to manufacture the same into any or all the articles which can be made or produced therefrom, and may sell or dispose of the same in such manner as it may deem best; and for that purpose the said company may purchase, lease, hold and convey real or personal property, and may manufacture all implements, machinery or other things necessary to use in conducting and carrying on the business of said company; shall have full power and authority to do and perform all such acts and carry on any business which may be necessary, proper or expedient to be done, carried on or performed, to promote the best interests of the same,... [missing rest of paragraph]
???.	SECTION 3. [The beginning part of this section is also missing] ... secretary and sealed with the seal of the corporation, and shall be transferred in such manner as the majority of the directors may determine by by-laws or resolutions; at all meetings of stockholders, each stockholder shall be entitled to one vote for each share of stock by him owned and vote in person or by proxy.
When may organize.	SECTION 4. It shall be lawful for such company to organize and commence their operations when and as soon as twenty-five thousand dollars of the stock of said company is subscribed and paid into the treasury thereof, and with that capital to commence, conduct and arrange the business of the same.
Board of directors.	SECTION 5. Said company is hereby authorized to receive in payment for stock, cash, personal property or such real estate, as may in the estimation of the majority of the board of directors be expedient or advantageous for said company to own.
Officers of the board.	SECTION 6. The officers [affairs,] business and property of said company shall be under the control and managed by a board of directors, of not less than five, all of whom must be stockholders, to be elected on the first Wednesday in June, 1868, or as soon thereafter as may be deemed expedient by a majority of the stockholders. Said directors to hold their office for the period of one year from the time of their election or until their successors shall be chosen. The directors when elected, shall by ballot, elect one of their number president, one of their number secretary and one treasurer; and shall appoint such other officers and agents as they may deem proper, and may prescribe their powers and pay them compensation. They shall have power to make, adopt, amend, alter and repeal by-laws for the government of the said company, not inconsistent with the laws of the United States, of this state or the states of Indiana, Michigan or Illinois; and they shall have power to locate the office or place of business of said company and to change the same when deemed expedient.
Board of directors.	SECTION 7. This act shall take effect from and after... [rest missing]
[Source: Private and Local Laws Passed by the Legislature of Wisconsin in the Year 1868. pp. 1438-1439.]