SEVEN WITH A COPY OF AND FORMS OF 55fir!Ssf QJKorf^^ac^c anD A UGTJSl' 7, 7 8 00 5:tfo gork: W. H. ARTHUR & CO., PRINTERS AND STATIONERS, No. 39 Nassau Stkeet. 1869 mmm ^WW>4 The person charging this material is re- sponsible for its return on or before the Latest Date stamped below. Theft, mutilation, and underlining of books are reasons for disciplinary action and may result in dismissal from the University. University of Illinois Library "lP 14 ;9: APR 2 0 19' L161— 0-1096 mortgage SEVEN OF THE DAIVILLE, URBimi, BLOOMlilON, AHD PEKIN WITH A COPY OF ITS ^ISTJD AND FORMS OF ^ir^i ^^[Uovi^di^Q anD "^STlorfj^a^c ^3Boni)0» AUGUST 7, 7869. ^efo gork: W. H. ARTHUE & CO., PRINTERS AND STATIONERS, No. 39 Nassau Street. 1869 . ^ 1 L Si f n' r^- ^■ ■A ' ^ pi RECTORS, Chosen at the Annual Meeting, October 20, 1863. CLAKK R. GRIGGS.. WM. H. SMITH W. J. ERMENTROUT J. O. CUN^i INGHAM. JOHN C. SHORT AI. M. WRIGHT H. R. GILLESPIE.... WM. Y. McCORD JOHN M. DOWNING.. HENRY CONKLING. . . GEORGE MILLER . . . . TIES SMITH THOS. KING Uebana, III. Danvillf, III, Piatt Co., III. Mount Pleasant, III. Lekot, III. . . . . Bloomington, III. . . Mackinawtown, III. Pekin, III. ^-XECUTIVE j!:OMMlTTEE. W. H. SMITH, w. J. ERMENTRODT, J. 0. CUNNINGHAM, , H. E. GILLESPIE. r FFICERS OF p., p., p. CLARK R. GRIGGS TIES SMITH WM. H. SMITH r THOS. KING W. J. ERMENTROUT M. AYRES AND jP. Ji. po. Peesident. Vice-Peesident. SuPEEINTENDENT. Chief Engineee. .... Seceetaet and Teeasueee. Attorney. P RUSTEES. FARMERS’ LOAN AND TRUST COMPANY, OF NEW YORK. P Digitized by the Internet Archive in 2017 with funding from University of Illinois Urbana-Champaign Alternates r https://archive.org/details/firstmortgagesevOOdanv SEVEN EER CENT. GOER First Mortgage Convertible Bonds OF THE JaiibHlc, Hiijaim, gloominutoii, ant) |fluu IL. na O.A.ID C O HS/T I>^3sr lO o t- t- 00 Ta CO cT Cl CD CD cd" •rf ”3 O ? 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T — i o r o CO 1 o CD 00 o o Cw Cl t- JO lO t> • 'ci^ o d ® 2 CO CO o , CD CD 1 CO rH _S 03 o' " cf hH d d" JO > > 00 l:~ o i o Cl i o t— 1 Cl JO JO CO 1 00 CO T— 1 rH JO , 00 00 lO d o CO cd • (M d CO rH t> • o CN C) JO 1— I 1 00 ■ d JO rH O -.j lO" tH 00 d Cl JO d" rH Pu, (M d tH CO d CO 1— ( 03 o 2 a _o d .SP I 1 5 1 S s a ci ,s=i -H "S ; g i 05 2 f- t? hi N ^ c3 Total. 0) c3 Q 1 Q 1 H pH Assessed Value of Property in Counties through which the Chicago, Alton, and St. Louis Railroad glasses. LENGTH OF KOAD 252 MILES. 12 Value of Property in Counties in Illinois through lohich the Toledo, Wabash, and Western Railroad passes. LENGTH OF HOAD 247 MILES. 13 CD -etc CO 0 to CO CO (05 <05 (05 to 1 0 t- 05 to CM CO d CO 00 00 00 00 to 00 (O L-- p 00 CM*' IH CO o' -cH hh" o' tH co" H 0 0 <05 CO rH - 00 0 00 (05 to 0 0 CO (05 00 <5> ^ to 0 0 to 00 (M 05 0 to 5 -c CD (oT cd CD cd 16 IH CD to" 0 2 1-H tH (M CO a. CO t- CO 05 0 CO to to 10 00 CO t- CO 0 to T— 1 CD CO d t- CO to 0 (M t- 0 00 0 (05" (m" 05" co" (m" cd 0" CD 00" r t— i rH tH (M . CD (M CO CO 10 CO 05 to 10 (M O t- to t- c~ 05 00 rH t- O tH CM 1 -H to CO CO O 00 CO 05 00 W O tD r-T 05 (M to tH to CM CO CD 05 t- 05 - 00 o (05 to L- CD CO CO 05 t5- CM CO o CM CM O .BP •OP a Ph S i .3 ;> o 0 s $ 1 & g ce P TO s do fQ w 14 It will be observed by an examination of the foregoing tables that the amounts per mile of each item noted for the D., U., B., & P. Road are greater than for either of the other lines, except for merchandise and manufactures. The excess of these items for both the Chicago, Alton, and St. Louis, and the Toledo, Wabash, and Western roads arises from the large retail trade of Springfield. Both of those roads pass through that city. We have selected the counties along the routes of the Chicago and Alton and the Toledo, Wabash, and Western railroads, for com- jDarison with the route of the D., U., B., & P. Road. These roads pass through the State in opposite directions, and the general character of the country through wRich they run is the same as that traversed by the D., U., B., & P. Railroad. CHARTER. J^prored F^ruary 2ah, 1857, AN ACT TO AMEND THE AbTICEES OE ASSOCIATION OF TDHE T>ANVrLDE, TTeHANA, Bloomington, and Pemin Railroad Company, and to extend the powers OF, AND CONFER A CSARTEB OPON, THE SAME. Section 1. Be it emcted by ihe Peopk^f Mm ^te vf Illinoi&, rep'esenied in the General Assembly, That the said •(xs'pca’atioii is created a body politic and corporate, sinder the npme and st^e csf tte Danville, Urbana, Bloomington, and Pekin Railroad Companj,” with perpetaial succession; and, under that name and style, shall be capable of suing and being sued, pleading and being impleaded, defending and b^ng defended against, in law and equity, in all courts and places wl^dsoever, in like manner and as fully as natural persons ; may make and use a common ^ai, and alter and renew the same at pleasure ; and by their ccjrp«>rate name and style shall be capable, in law, of contracting and being contracted with; shall be, and are hereby, invested with all the powers and privileges, immunities and franchises, of receiving and disposing of real and personal estate, which may be needful to carry into lull effect the purposes and objects of this Act And said Com- pany is hereby authorized and empowered to locate, conidriKitand complete a railroad extending from the city of Pekin, in Tazewell County, Illinois, through, or as near as piacticaMe to, the Towns of Tremont, Mackinaw Town, Concord, Bloomington, Leroy, Mount Pleasant, Mahomet, Chamiraign City, Urbana, and St, Joseph, to the east boundary of the State of Illinois ; and said Company may construct ^id road with one one or more tracks, and shall begin the construction of the same within hve years (5), and complete the same within ten yeais (10), from the passage of this Act. Said Company shall not have the power to locate or construct a road upon any other route than connecting the above named points, by such location as maybe deemed best for the interest of said Company ; Provided, That if any incorporated town or city on the line of said route shall refuse or neglect to subscribe a just and equal amount towards securing the building of said road, then, in that case, the Directors of said Company shall have the power, to be exer- cised in their discretion, so to change the route as not to run said road through the incorporated town or city so refusing or neglecting to subscribe ; IG \ Provided, That the Directors of the division in which such incorporated town or city may be shall have the sole power of determining as to the sufficiency of such subscription : And provided, farther, That no such power shall be construed to be possessed by the Directors when the county or township in which such incorporated town or city may be shall have subscribed, or shall, before such change in route is made, subscribe to the capital stock of said Company a sum not less than one hundred thousand dollars. Sec. 2. The capital stock of said Company shall be “ two millions of dollars,” and may, by a vote of the majority of the stockholders, according to shares, at any regular or special meeting called for that purpose, be increased to “ six million of dollars,” to be divided into shares of one hundred dollars each. Sec. 3. The immediate government and direction of said Company shall be, and is hereby, vested in thirteen (13) Directors, who shall be chosen by the stockholders of said Company, in the manner hereinafter provided for, and who shall hold their offices for the period of one year after their election, and until their successors shall be elected and qualified ; and the said Direc- tors, a majority of whom shall constitute a quorum for the transaction of all business, shall elect one of their number President of the Company, and shall have power to elect or appoint such other officers as [they] may deem proper ; but no jjerson shall be a Director who shall not, at the time of his election, be a stockholder ; and each stockholder shall, in all elections or votes by stockholders, be entitled to cast one vote for each share of the stock held by him, such vote to be cast either in person or by proxy, and under such regulations as the Board of Directors may prescribe; and vacancies in the Board of Directors may be filled by the remaining Directors, a two-thirds vote in his favor being required to elect such appointees, to continue in office until the next annual election of Directors, which said annual election shall be held at such time and place as may be designated by the By-Laws of said Company ; sixty days’ printed notice being given by at least five publications in newspapers in Urbana, Bloomington, and Pekin. Sec, 4. The persons named as Commissioners, in said Articles of Asso- ciation, may be removed, at auy regular meeting of the Board of Directors, and others appointed in their stead, with the same powers ; and the said Commissioners shall open books of subscription, from time to time, in each [of] the cities, incorporated towns, and townships along the route of said road ; first giving ten days’ notice of the time and place thereof, by publica- tion in the ne\^spaper nearest thereto . Sec. 5. The said Company shall have power to locate, construct, equip, furnish, and maintain and operate, a railroad, as aforesaid, wdth all the necessary tracks, side-tracks, turnouts, switches, depots, stations, and all other necessary buildings, structures, and erections ; and, for this purpose, they are hereby vested with all the power necessary for the pm-chasing, taking, holding, seUiug, and transferring property, real and x^ersonal, the IT same as natural persons, as the Board of Directors may deem it necessary to carry out the objects of this Act. Sec, 6. For the purpose of acquiring the right of way for the construc- tion and maintenance of said railroad, side-tracks, turnouts, and grounds for depots, stations, erections, and structures, and for the purpose of ob- taining stone, gravel, and other materials for building, ballasting, or repair- ing said road, and of obtaining a right of way to said material, the said Company be, and are hereby, authorized and empowered to take, condemn, and use the same, under the provisions of an Act entitled “ An Act to amend the law condemning the right of way for purposes of internal im- provement,” approved June 22, 1852, and all laws that have been or may be hereafter enacted amendatory thereof. Sec. 7. Said Company shall have power to unite or connect itself with any other Eailroad Company in this State, upon such terms as may be mu- tually agreed upon between the Companies so uniting or connecting ; and, for that purpose, full power is hereby given to said Company to make and execute such contracts vith any other Company as will secure the object of such union or connection : Provided, That such union or connection shall only be with Companies whose railroads are west of Illinois river, or east of Urbana, running east and west, or whose roads run north and south from either terminus of the said Danville, Uibana, Bloomington, and Pekin Kail- road Company ; and the said Corporation may furthermore lease or purchase, upon such terms as may be agreed upon, any other road or parts of roads, either wholly or partially constructed, which may constitute or be adopted as part of their railroad ; and, by such lease or purchase, they shall acquire and become vested with all the rights and franchises pertaining to such road, or part of road, so leased or purchased, in the right of way, maintenance, and construction and operation thereof. Sec. 8. The said Company is hereby authorized, from time to time, to borrow such sum or sums of money as may be necessary for the completing, equipping, operating, and maintaining their said railroad, and to issue and dispose of the bonds, at such rate of interest, not exceeding 10 per cent., and at such discount, as may be thought best for the benefit of the Com- pany, and to mortgage their corporate property and franchises, or convey the same by deed of trust, to secure the payment of any debt contracted by said Company, for the purpose aforesaid ; and any such bonds that may be sold or disposed of at a less rate than par shall be as valid and binding upon said Company as if the same were sold for the par value thereof. Sec. 9. Counties, cities, towns, or townships, through which said [rail- road] is to pass, or along the route thereof, which have held, or shall hold, elections upon the question of subscribing to the capital stock of said Company, as by this Act, or by any general law of this State, required or permitted, shall, upon such election being held and carried in favor of so subscribing, adopt the subscription of the citizens of such county, city 2 18 town, or township, now made to said capital stock nuder said Articles of As- sociation, as part of their subscription ; and, upon the issue of stock by such counties, cities, towns, or townships, such citizens shall, by the Board of Directors, be released from individual liability therefor. Sec. 10. The right of way, and the real estate for the right of way, and for the purposes aforesaid, purchased or acquired by said Company, whether by agreement or otherwise, or which shall become the properly of the Com- pany, shall, upon the payment of the money agreed, or adjudged to be paid to the owner 'or owners of the same, as compensation for the same, become the property of said Company in fee-simple. Whenever it shall be necessary for the construction of said railroad to intersect or cross the track of any other railroad or river, stream of water, watercourse, road, or highway on the route of said road, it shall be lawful for the Company to construct their road across or upon the same : Provided, That the said Company shall re- store the said railroad, river, stream of water, watercourse, road, or highway intersected or crossed, sufficiently near its former state, so as not to mate- rially impair its usefulness. Sec. 11. That all the rights, privileges, and advantages, with the limita- tions and restrictions, conferred upon the Illinois Central Bailroad Company ; also, the rights, privileges, and advantages, with their limitations, conferred by an Act, entitled “An Act to provide for a general system of raih'oad in- corporations,” approved November 5th, 1849, and the several Acts amenda- tory thereof, are hereby conferred upon the “Danville, Urbana, Bloomington, and Pekin Bailroad Company;” and counties, cities, towns, and townships shall be entitled to subscribe for stock in said Company, in like manner, and with like effect, as provided in the Acts referred to, and the Acts amendatory thereof, except as by said Acts, and said Articles of Association, qualified and limited. Sec. 1 2. To further aid in the construction of said road by said Com- pany, any incorporated town or township, in counties acting imder the township organization law, along the route of said road, may subscribe to the capital stock of said Company, in 'any sum not exceeding “two hundred and fifty thousand dollars.” Sec. 13. No such subscription ?hall be made until the question has been submitted to the legal voters of such incorporation, town, or towmship, in which the subscription is pr< posed to be made ; and the Clerk of each of said towns or townships is hereby required, upon the presentation of a peti- tion signed by at least ten citizens who are legal voters and tax-payers of such town or township for which he is Clerk, and in which petition the amount proposed to be subscribed shall be stated, to post up notices in at least three imblic places in each town or township, which notices shall be posted not less than thirty days before the day of holding such election, notifying the legal voters of such town or township to meet at the usual place of holding elections in such town or township, or some other convenient place named in 19 such notice, for the purpose of voting for or against such subscription : Pro- vided, That where electioDS may have already been held, and a majority of the legal voters of any township or incorporated town were in favor of a sub- scription to said railroad, then, and in that case no other election need be had, and the amount so voted for shall be subscribed, as in this Act pro- vided ; and such elections are hereby declared to be legal and valid, as though this Act had been in force at the time thereof, and all the provisions hereof had been complied with. Sec. 14. If it shall appear that a majority of all the legal voters of such towns or townships, voting at such election, have voted “ for subscription,” it shall be the duty of the President of the Board of Trustees, or other chief executive officer, if in incorporated towns, and the Supervisor in townships, to subscribe to the capital stock of said Eailroad Company, in the name of such towns or townships, the amount so voted to be subscribed, and to receive from said Company the proper certificates therefor. He shall also execute to said Company, in the name of such towns or townships, bonds, bearing interest at 10 per cent, per annum, which bonds shall run for a term of not more than “ twenty years,” and the interest on the same shall be made payable annually, and which bonds shall be signed by such Presi- dent, executive officer, or Supervisor, and be attested by the Clerk of the town or township in whose name the bonds are issued; and it shall be his duty to make out a record of the issuing of said bonds. Said bonds shall be delivered to the President or Secretary of said Company, for the u.'e of said Company; and when any city or county shall hereafter vote to make sub- scription as aforesaid, the Chairman of the Board of Supervisors of such county, and the Mayor of such city, shall be requii-ed to subscribe to the capital stock of said Company the amount so voted. Sec. 15. It shall be the duty of the Clerk, of any such town or township in which a vote shall be given in favor of subscription, within ten days there- after, to transmit to the County Clerk of their respective couniies a transcript or statement of the vote given, and the amount so voted to be subscribed, and the rate of interest to be paid; Provided, That where elections may have been held as aforesaid, it shall be the duty of the Town Clerks to file with the County Clerks of their respective counties, within ten days after the issuing of said bonds, certificates of the votes of their towns, the amount of stock voted to be subscribed, the amount of bonds issued, and the rate of interest payable thereon. Sec. 16. It shall be the duty of the County Clerk of said county, annually, after the execution and delivery of such bonds as aforesaid, to compute and assess upon all taxable property returned by the Assessor of such town or township, a sum sufficient to pay the interest and costs of collection and dis- bursements upon all bonds so issued by the respective towns or townships ; which tax shall be extended upon the Collector’s books as other taxes are, and collected in the same manner that other taxes are collected, and, when collected, shall be paid to the Treasurer of the county ; and such town or 20 township may, when providing for the levying and collecting of other taxes, also assess nj)on the property of such town or township any rate not ex- ceeding three per cent, in any one year upon the assessment, to provide a fund for the redemption of the principal of such bonds, as or when they become due, said tax to be levied and collected as other taxes are, and paid to the County Treasurer; but no tax shall be computed, assessed, or col- lected, or any interest paid to be applied upon said bonds, unless such bonds have been executed and delivered. Sec. 17. It shall be the duty of the County Treasurer to pay out, on the presentation to him of the bonds issued by any such town or townships afore- said, the amount due upon such bonds for interest, and also for principal, when any tax shall be assessed and collected, to pay principal out of any money in his hands for that purpose, and endorse such payment of interest or partial principal upon the bonds; and when such bonds shall be redeemed or paid, he shall receive and cancel the same, and return the same to the President or Supervisor, who shall destroy the same in the presence of the Clerk of such town or township, who shall make a record of the trans- action. The Town Collector and County Treasurer, in towns or counties which subscribe to said capital stock, shall receive the same percentage for receiving and disbursing said fund, as they now receive in collecting and disbursing the school fund. Sec. 18. At all elections for officers, and in all questions voted on by the stockholders of said Company, the President or Supervisor of such town or township, which shall have subscribed to said stock, shall represent and cast the vote which said stock is entitled to cast, unless said town or township shall appoint some other person to perform said duty. Sec. 19. The road to be constructed by said Railroad Company is hereby divided into three divisions, to wit : — All that portion of the road east of the Chicago Branch of the Illinois Central Railroad, shall constitute the first division ; that portion lying west of the Chicago Branch of the Illi- nois Central Railroad, and east of the main line of the Illinois Central Rail- road, shall constitute the second division ; and all that portion west of the Illinois Central Railroad, and east of the Illinois River, shall constitute the third division. The immediate supervision and management of the con- struction of said divisions shall be under the control of the Directors residing in each division; and said Directors, representing their respective divisions, shall have the power to organize under such rules as the Board of Directors may establish, and shall have power to call in stock subscriptions, as the same become payable, and expend the proceeds of such subscrip lions in the divisions where the subscribers are located, and shall keep records of their proceedings, and report to the Board of Directors under such rules as said Board may establish: Provided, That any incorporated town, city, or township, which has held, or shall hold, elections upon the question of subscribing to the capital stock of said Company, may appropriate the whole or part of said subscription for the construction of any part of 21 said road that such city, township, or incorporated town may elect within the division in which [such] city, incorporated town, or township may be. Sec. 20. The President of the “Bloomington and Pekin Kailroad Com- pany,” incorporated by an Act approved February 10th, A. D. 1853, is hereby authorized and empowered to convey to 'William S. Maus, Samuel R. Saltonstall, and Jerome B. Clark and Henry Conkling, all the right, title, and interest of the said “Bloomington and Pekin Railroad Company,” in and to the ijght of way, grade, and road-bed of the Blooming- ton and Pekin Branch of the Centr al Railroad, to the same extent as con- veyed by the State of Illinois to said Bloomington and Pekin Railroad Company, to be held by said parties in tnist until the completion of said third division of the “Danville, Urbana, Bloomington, and Pekin Railroad,” and, upon such completion, to be by them conveyed to said last-named Company ; and said last-named Company are hereby vested with all the powers, rights, and prmleges conferred by said Act of February 10th, A. D. 1853, upon the Bloomington and Pekin Railroad Company, not incor- sistent with the provisions of this Act. Said Act of February 10th, A. D. 1853, is hereby declared to be in full force and effect for the purpose of said conveyance ; and the Governor of the State of Illinois is hereby authorized, upon application to him of the President of the Danville, Urbana, Blooming- ton, and Pekin Railroad Company, to convey to said above-named persons, all the right, title, and interest which may be in the State of Illinois in and to the right of way, grade, and road-bed of said Bloomington and Pekin Branch of the Central Railroad. Sec. 21. No stockholder, whether corporate or natural person, shall be otherwise liable, under his or their subscription of stock, than for the amount of their respective subscriptions of stock to said Company, and according to the calls of the Directors, under the conditions hereinbefore provided. Sec. 22. Any provision or stipulation contained in the aforesaid Articles of Association of the Danville, Urbana, Bloomington, and Pekin Railroad Company, in conflict with the provisions of this Act, is hereby repealed ; but nothing herein mentioned shall be construed to affect the right of any county or city which has heretofore voted to subscribe to the cajutal stock of said Company, to limit its subscription, according to the terms and condi- tions of said Articles of Association of said Company ; but any city which, since the adoption of said Articles of Association, has voted to subscribe to the capital stock of said railroad, may, upon a vote of two-thirds of the Com- mon Council or Board of Aldermen thereof, subscribe and issue bonds under the provisions of this Charter, instead of upon such terms and conditions contained in said Articles of Association. Sec. 23. The Board of Directors of the Danville, Urbana, Pekin, and Bloomington Railroad Company, as elected under the Articles of Association of said Company, shaU, within six months from the coming in force of this 22 Act, signify their acceptance of the same, and if not so done, then this Act shall be void and of no effect ; and the said Board of Directors shall continue and remain in office until the next annual election, which election shall be provided for by the By-Laws of said Board. Sec. 24. This Act shall be in force from and after its pa.ssage. Approved February 28th, 1867. United States of Ameeica, State of lUinois, ss. Office of Seceetaey. I, Sharon TyndaJe, Secretary of State of the State of Illinois, do hereby certify that the foregoing is a true copy of an [seal.] enrolled law now on file in this office. In witness whereof, I hereto set my hand and affix the Great Seal of otate, at the city of Springfield, this 22d day of March, A. D. 1867. Sharon Ttndale, Secretary of State, AMENDMENT TO CHARTER An Act to amend an Act, entitled An Act to amend Articles of Association of the Danville, TJrhana, Bloomington, and Pekin Ttailroad Company, and to extend the powers of and confer a Charter upon the same.” Whereas, Certain township officers along the line and through which the Danville, Urbana, Bloomington, and Pekin Kailroad passes, have failed to keep a fiiU and perfect record of elections called and held, and township clerks have failed to file with the County Clerk certificates, as required by section fifteen (15) of the amenled Articles of Association of said railroatl : Therefore, Section 1. Be it enacted hy the people of the State of Illinois, represented in the General Assembly, That when such informalities and neglect may have oc- curred, and bonds have been issued, or may hereafter be issued, to aid in the construction of said railroad, that no such neglect or omission on the part of township officers shall in any way invalidate or impair the collection of said bonds, both principal and interest, as they may respectively fall due ; and all assessments that are now made for the payment of the principal or the interest thereon is hereby legalized ; and the township collectors and county treasurers are hereby authorized and empowered to enforce the collection and payment of said tax, as is now provided by law for the collection of all other taxes : Provided, That this Act shall not apply to the town of Danville. Sec. 2. This Act shall be a public Act, and take effect from and after its passage. Approved February 25th, 1839. United States of America, } State of Illinois, f Office of Secretary. I, Edward Kummel, Secretary of State of Illinois, do hereby certify that the foregoing is a true copy of Aot to amend an Act entitled ^An Act to amend Articles of Associa- tion of the DanviVe, Urbana, Bloomington, and Pekin Railroad [seal.] Company, and to extend the powers of and confer a Charter upon the same,' ” now on file in this office. In witness whereof, I hereto set my hand and affix the Great Seal of State, at the city of Springfield, this 25th day of February, A. D. 1869. Edward Hummel, Secretary of State. BY-LAWS OF THE DAN\^ILLE, URBAM, BLOOMINGTON & PEKIN R. R. CO. Oi*gan.izecl August 28t]a, 1866. I. The Annual Meeting of the Stockholders of this Company, for the election of Directors and the transaction of other appropriate business, shall be held on the third Tuesday in October, of each year, at the office of the Company, in the city of Urbana; of which meeting the Secretary shall give sixty days’ previous notice by five publications in newspapers printed in the cities of Danville, Urbana, Bloomington, and Pekin. The election of Directors shall be by ballot. The polls shall be opened at twelve o’clock at noon, and remain open until two o’clock in the afternoon. II. In case a vacancy shall happen among the Directors by death, resignation, or otherwise, it may be filled for the remainder of the year by a resolution of the Board of Directors, a two-thirds vote being required. III. Suitable books shall be kept for the registry and transfer of the capital stock of this Company, and every transfer of such capital stock, to be valid, shall be made upon such books, and signed by the holder of such shares, or his attorney, duly authorized, in writing. The certificates of stock shall be signed by the President or Vice-President, and countersigned by the Secretary, under the seal of the Company. rV. Immediately after the election of Directors, the persons so elected shall elect from their number a President and Vice-President, and shall also elect a Secretary and Treasurer, and determine the amount of salary to be paid to each. Each of the officers of this Company shall hold his office until the next succeeding annual election of Directors, and until his successor shall have been appointed and qualified; but either of them may be removed or dis- charged by the Board of Directors, two-thirds of all the then Directors voting therefor. 26 In case of any vacancy in either of the said offices, the same shall bo filled by the Board of Directors at their first meeting after such vacancy shall have occurred. The Board of Directors may, by resolution, or by the Executive Committee, from time to time, appoint a Superintendent, Attorney, and such other sub- ordinate officers as shall be necessary. V. The President shall be the principal executive officer of the Company, and shall have the general supervision of its affairs. He shall manage, either himself or through the proper subordinate officers of the Company, all negotiations with other corporations, companies, or individuals, touching their mutual interests, and the claims of either party on the other; and shall eiitf^r into or conclude all such agreements or contracts with any of such parties, as shall be approved by the Board of the Executive Committee. It shall be his duty to preside at all meetings of the Board at which he shall be present. He shall see that the By-Laws, Rules, and Regulations of the Board of Directors are faithfully executed. He shall sign all certificates of stock, bonds, or other evidences of debt issued by the Company, and have a proper record kept thereof. He shall have power to call a meeting of the Directors whenever he may deem it necessary, and it shall be his duty to call such a meetitig when requested by four Directors. VI. The Vice-President shall preside at all the meetings of the Board of Directors when the President shall be absent, and, in case of the death or incapacity of the President, or of his absence from the State, the Vice-Presi- dent shall perform all the duties of the President until another shall be elected. He shall also have power to call meetings of the Board of Directors in the absence of, or in case of the disability of, the President, and it shall be his duty to call such meetings when requested, in writing, by four or more Directors. VII. The Secretary shall attend the meetings of the Board of Directors and of the Executive Committee, and keep a record of their proceedings. He shall keep proper books for the transfer of the Company’s stock, and also a stock ledger, showing the name and interests of the respective sharehold/srs. He shall give notice of five days, by letter through the Post Office, to all Directors, of the time and place of all meetings of the Board. VIII. The Treasurer shall, before he enters upon the duties of his office, give a bond, with good and sufficient securities, to be approved by the Board of Directors or Executive Committee, in such penal sum as the Board shall require, coudition< d for the faithful performance of his duties, and for the safe keeping, correctly accounting for, and paying over all moneys be- longing to the Company. 27 He shall keep accurate accounts, in such form as shall be approved by the Executive Committee, of all moneys received or paid out by him, so arranged and kept as to show each class of expenditures for which he shall make pay- ment. He shall deposit daily, or as soon as practicable after their receipt, all moneys which he shall receive, to the credit of the Company, in such bank or banks as may from time to time be designated by the Board of Directors or Executive Committee. He shall pay out money only upon the order of the President and Chair- man of the Committee on Accounts and Claims, unless specially ordered by the Board of Directors. He shall render monthly statements to the Executive Committee of all moneys received and disbrused by him, and of the amount of money in his hands. IX. The regular Standing Committees of the Board of Directors shall be an Executive Committee, to consist of the President, who shall be ex officio Chairman thereof, and four other members of the Board. A Committee on Accounts and Claims, to consist of three Directors. All the committees shall be appointed by the President, who shall have authority to fill any vacancies which may occur in either of said committees. X. The Executive Committee shall have power, and it shall be their duty, to manage and direct the business affairs of the Comx3any, in such a manner as they shall deem best for its interests, in aU cases in which specific directions shall not have been given by the Board, and take a general supervision of the financial affairs of the Company. They shall advise with the officers of the Company touching the perform- ance of their respective duties, and transact such nec'-ssary and pressing business during the interval between meetings of the Board as may be for the interests of the mj^any, and report their action at the next meeting of the Board. They shall make examination of the accounts of the Treasurer as often as once in three months. XI. The Committee on Accounts and Claims shall monthly examine, and, if proper, audit all bills, accounts, or vouchers paid, or to be paid, by the Treasurer, and, as far as is j^racticable, such examination and auditing to be made before i:>ayment. Certificates, showing the amount of the bills, accounts, or vouchers audited, and in whose favor, to be rendered to the Treasurer; such certificates to be signed by at least two members of said Committee, who shall also sign on the back of each bill, account, or voucher, included in such certified list, in proper form, showing their audit thereof They shall also advise as to the manner of keejping the accounts of the Company, and it shall be their duty, at least once in three months, to inspect all books of account, and report to the Board the resrdt of such examination. It shall be the duty of the Committee to make a report to the Board of Directors, on the third Tuesday of October in each year, embracing a detail- 28 ed statement of the receipts and expenditures of the Company for the previ- ous year, and shc»wing, generally, the financial conditions and prospects. XIL A.11 moneys of the Company received by any officer or agent there- of, shall be deposited to the credit of the Company, in the depository designa- ted by the Board of Directors, as soon as may be, after the receipt thereof. No moneys shall be paid out of the depositories unles upon the draft of the Treasurer, payable to the order of the person in whose favor the same may be drawn. XIII. The books for the transfer of the capital stock shall be closed at least five days before the annual meeting for the election of Directors, and shall lemain closed until after election. Such books shall also be closed for at least ten days previous to the time fixed for the payment of any dividend. XIV. The foregoing By-Laws may be altered or amended by a vote of the majority of the whole Board, at a special meeting held for that purpose. The notice of such meeting shall state that the meeting was called for the purpose of altering the By-Laws. FIRST MORTGAGE BONDS This Indenture, made the first day of April, in the year of our Lord, one thousand eight hundred and sixty-nine, between the Danvilee, Urbana, Bloomington, and Pekin Railroad Company, incorporated under and by virtue of the laws of the State of Illinois, of the first part, and The Farmers’ Loan and Trust Company, a corporation created by the laws of the State of New York, of the second part : Whereas, in pursuance of the power and authority in it duly vested, the said Danville, Urbana, Bloomington, and Pekin Railroad Company has le- solved to issue and negotiate a series of two thousand bonds, each of one thousand dollars, numbered respectively from 1 to 2,000, inclusively, and amounting in the aggregate to two milhon dollars, which said bonds are to be all equally secured by these presents, and are to be of like tenor and sub- stantially in the form following : UNITED STATES OF AMERICA, No. The State of Illinois, $1,000 The Danville, Urbana, Bloomington, and Pekin Railroad Company. First Mortgage Gold Bearing Bond Convertible into the Capital Stock of the Company at par. Free of Government Tax. Know all Men by these Presents : That the Danville, Urbana, Blocm- ington, and Pekin Railroad Company is indebted to The Farmers’ Loan and Trust Company, or bearer, in the sum of one thousand dollars gold coin of the United States of America, which the said Company promises to pay to the said The Farmers’ Loan and Trust Company, or the bearer hereof, on the first day of April, in the year one thousand nine hundred and nine, at the city of New York, with interest thereon at the rate of seven per centum per annum, payable in gold semi-annually at the city of New York on the first days of April and October in each year, upon presentation and surrender of the coupons hereto annexed, as they severally become due ; and in case of non-payment of any half-yearly instalment of interest, which shall have become payable and shall have been demanded, and the continuance of such default for the period of six months after any such demand, the principal of 30 this bond shall become due in the manner, and with the effect provided in the deed of trust or mortgage securing the payment of the same, hereinafter mentioned. This bond is one of a series of two thousand bonds, each of one thousand dollars, of like tenor and date, numbered respectively from 1 to 2,000, inclu- sively, and amounting in the aggregate to two million dollars 000, 000), and the payment of each and all of which is equally secured by a deed of trust or mortgage, bearing date the first day of April, eighteen hundred and sixty-nine, duly executed, and delivered by the said Kailroad Company to the said The Farmers’ Loan and Tiust Company, Trustees, . conveying the railroad of the said Company, and its equipment, appurtenances, pioperty, franchises, and things in the said deed of trust or mortgage mentioned and described. This bond is entitled to the benefit and security of a sinking fund of ten thousand dollars, provided for and described in said deed of trust or mort- gage, to be set apart annually for the redemption of bonds secured by said dqed of trust or mortgage. This bond shall pass by delivery, or it may be registered by its owner, on the books of the Company at the office of the Fanners’ Loan and Trust Company, in the city of New York. After a registration of ownership duly certified hereon, at the aforesaid office, no transfer, except upon the books of the Company, shall be valid, unless the last transfer shall have been to bearer, and transferability by delivery thereby restored; but this bond shall continue subject to successive registrations and transfers to bearer, as afore- said, at the option of the holder. This bond shall not become obligatory, until it shall have been authenti- cated by a certificate endorsed hereon, and signed by the President of The Farmers’ Loan and Trust Company for the time being. In witness whereof, the said Company has caused its corpo- rate seal to be hereto affixed, and the same to be attested [seal.] by the signatures of its President and Secretary, and has also caused the coupons hereto annexed to be signed by its Secretary, this first day of April, in the year one thou- sand eight hundred and sixty-nine. (Signed) C. K. Gkiggs, President. H J. Ebmenteout, Secretary. Now therefore, this indenture witnesseth, that for and in consideration of the p emises, and of the sum of one dollar to the said parties of the first part duly paid by the said parties of the second part, and in order to secure the payment of the principal and interest of the said bonds according to the tenor thereof, and of the coupons thereto annexed, the said Danville, Urbana, Bloomington, and Pekin Kailroad Company, the parties of the first part hereto, have granted, bargained, and sold, and by these presents, do grant, bargain, sell, convey and transfer unto the said parties of the second part, and their successors and assigns, all and singular the railroad of the parties 31 of the first part, or which the said parties of the first part are by law author- ized to construct, being the line of railroad heretofore known, or hereafter to be known, as the Danville, Urbana, Bloomington, and Pekin Kailroad, as the same is and hereafter shall be constructed, extending from the city of Pekin, in Tazewell County, Illinois, through, or as near as practicable to, the towns of Ti’emont, Mackinaw Town, Concord, Bloomington, Leroy, Mount Pleasant, Mahomet, Champaign City, Urbana, and St. Joseph, to the east boundary of the State of Illinois, including all the railways, ways, rights of way, depot grounds, and other lands, all tracks, bridges, viaducts, culverts, fences, and other structures, depots, station-houses, engine-houses, car-houses, freight-houses, wood-houses, and other buildings, and all ma- chine-shops and other shops, and all other real or personal estate, held or acquired, or hereafter to be held or acquired by the said Company, its suc- cessors or assigns, for use, in connection with the railroads of the parties of the first part, or with any part thereof, or with the business of the same, and includiog also all locomotives, tenders, cars, and other rolling stock or equipment, and all machinery, tools, implements, fuel, and materials for constructing, operating, repairing, or replacing the said railroads or any part thereof, or of any of the equipments or appurtenances of the said railroads, or any part thereof, and all machinery of all kinds, and all and singular the other personal property of any nature, kind and description whatsoever, be- longing to the Danville, Urbana, Bloomington, and Pekin Eailroad Company, and all real estate of every kind belonging to the said Danville, Urbana, Bloomington, and Pekin Kailroad Company, wheresoever the same may be situated ; and also all franchises connected with or relating to the said rail- road, or to the construction, maintenance, or use of the said railroad, and all the property, franchises, rights, and things of whatsoever name or nature, now held or hereafter to be acquired by the said parties of the first part, or their successors, together with all and singular the tenements, hereditaments, and appurtenances to the said railroad, lands, and premises, or either thereof, belonging, or in any wise appertaining, and the reversion and reversions, remainder and remainders, tolls, incomes, revenues, rents, issues and profits thereof, and also all the estate, right, title, interest, property, possession, claim and demand whatsoever, as well in law as in equity, of the said parlies of the first part, of, in, and to the same, and any and every part thereof, with the appurtenances, to have and to hold the above-mentioned and de- scribed railroad, branches, real estate, personal property, and premises, with the appurtenances, unto the said parties of the second part, and their successors and assigns, to the only proper use, benefit, and behoof of the said parties of the second part, and their successors and assigns, In Trust, nevertheless, for the purposes herein expressed, to wit : Article Fikst. — Until default shall be made by the said parties of the first part, their successors or assigns, in the payment of the principal or interest, or some part thereof, of the said bonds, or some one of them, or until default shall be made in some payment into the sinking fund hereinafter mentioned, or in some other requirement hereof, the said parties of the first 32 part, their successors and assigns, shall be suffered and permitted to possess, manage, operate, and enjoy the said railroad with its equipments and appur- tenances, and also the lands and premises, property and franchises hereinbe- fore described ; and to receive, take, and use the tolls, incomes, revenues, rents, issues, and profits thereof, in the same manner, and with the same effect, as if this mortgage had not been made. Article Second. — In case, first, default shall be made in the payment of any interest on any of the said bonds, according to the tenor thereof, or of the coupons thereto annexed, or in the payment of any part of the principal of said bonds, or any of them, when the same shall become due, and that any such default shall continue for the period of six months ; or, secondly, in case default shall be made in any payments by these presents required to be made into the sinking fund, hereinafter mentioned, and that such default shall continue for the period of six months ; or, thirdly, in case default shall be made in the performance or observance of one or other requirement hereof, and that such last-mentioned default shall continue for the period of six months, then, and in either of such cases, it shall be lawful for the said trustees, or their successors, personally or by their attorneys or agents, to enter into and upon all and singular the railroads, lands, and premises hereby conveyed or intended so to be, and each and every part thereof, and to have, hold, and use the same, operating by their superintendents, mana- gers, receivers, or servants, or other attorneys or agents, the said railroads, and conducting the business thereof, and making from time to time all repairs and replacements, and such useful alterations, additions and improve- ments thereto, as may seem to them to be judicious, and fo collect and receive all tolls, freight, incomes, rents, issues, and profits of the said railroads, lands, and premises, and of every part and parcel thereof ; and after deduct- ing the expenses of operating the said railroads and conducting the business thereof, and all the expenses incurred in the holding and management of said lands, and of all the said repairs, replacements, alterations, addi- tions, and improvements, and all payments which may be made for taxes, assessments, upon the said premises, or any part or parcel thereof, as well as just compensation for their own services, and for the serAuces of such attorneys and counsel as may have been by them employed, to apjily the moneys ai'ising as aforesaid to the payment of interest on the said bonds, in the order in which such interest shall have become due, ratably to the per- sons holding the coupons evidencing the right to such interest ; and after paying all interest which shall have become due, to apply the said moneys to the payment of the principal of such of the said bonds as may be at that time unpaid, ratably, and without discrimination or preference, and if, after satis- faction thereof, a surplus shall remain, to pay over such surplus to the said Company, its successors or assigns, or as any court of competent jurisdiction shall order. Article Third. — In case default shall be made as aforesaid, and shall con- tinue as aforesaid, it shall likewise be lawful for the said trustees, or their 33 successors, after entry as aforesaid, or other entry, or without entry, person- ally, or by their attorneys or agents, to sell and dispose of all and singular the railroads, lands and premises hereby conveyed, or intended so to be, at public auction,, at the city of New York, or at the city of Urbana, or at other such place within the State of Illinois as the said trustees or their successors shall designate, and at such time as they may appoint, having first given notice of the place and the time of sale by advertisement published not less than three times a week, for six weeks, in one or more newspapers published in the city of New York, and also in one or more newspapers published in the State of Illinois, and wherever else required by law, and to adjourn the said sale from time to time in their discretion, and if so adjourning, to make the same, without further notice, at the time and place to which the same may be so adjourned, and to make and deliver to the purchaser or pur- chasers of the said premises, good and sufficient deed or deeds in the law for the same in fee-simple ; which sale made as aforesaid shall be a perpetual bar, both in law and equity, against the said parties of the first part, their successors and assigns, and all other persons claiming or to claim the said premises, or any part or parcel thereof, by, from, through or under the said parties of the first part, their successors or assigns, and after deducting from the proceeds of such sale just allowances for all expenses thereof, including attorneys’ and counsel fees, and all other expenses, advances or liabilities, which may have been made or incurred by the said trustees in respect to the said railroad, lands, premises, or any part or parcel thereof, or in operating or maintaining the said railroad or any part thereof, or in managing the business thereof, while in their possession, and in arranging for and com- pleting the sale aforesaid, and all the payments which may have been made by them of taxes or assessments on the said premises, or any part thereof, as well as compensation for their own services, to apply the said proceeds to the payment of the principal of such of the said bonds as may be at that time unpaid whether or not the same shall have previously become due, and of the interest which shall at the time have accrued on the said principal, and be unpaid, without discrimination or preference, but ratably to the ag- gregate amount of such unpaid principal and accrued and unpaid interest ; and if after payment of the same in full, a surplus shall remain, to pay over such surplus to the said Company, or render the same as any court of com- petent jurisdiction shall order. And it is hereby declared and agreed, that the receipt of the said trustees shall be a sufficient discharge to the purchaser or purchasers of the premises which shall be sold as aforesaid, for his or their purchase money, and that such purchaser or purchasers, his or their heirs, executors or administrators, shall not, after payment thereof, and having such receipt, be liable to see to the application of such purchase money upon or for the trust or purposes of these presents, or be in any manner whatever answerable for any loss, mis- application or non-application of such purchase money, or of any part there- of, or be obliged to inquire into the necessity, expediency, or authority of, or for, any such sale. 3 34 Aeticle Foueth. — At any sale of tlie aforesaid property, or of any part thereof, whether made by virtue of the power herein granted, or by judicial authority, the trustees may, in their discretion, bid for and purchase, or cause to be bidden for and purchased, the property so sold, or any part thereof, in behalf of the holders of the bonds secured by this instrument and then out- standing, in the proportion of the respective interests of such bondholders, at a reasonable price, if but a portion of the said property shall be sold ; or, if all of it be sold, at a price not exceeding the whole amount of such bonds, then outstanding with the interest accrued thereon. Aeticue Fifth. — Incase default shall be made in the payment of any half year’s interest on any of the said bonds, at the time and in the manner in the coupon issued therewith provided, the said coupon having been presented and the payment of the interest therein specified having been demanded, and that such default shall continue for the period of six months after the said coupon shall have become due, and been demanded as aforesaid, then and thereupon the principal of all the said bonds shall, at the election of the trustees, become immediately due and payable ; but at any time before the interest in arrear shall be paid, a majority in interest of the holders of the said bonds may, by an instrument in writing, under their hands and seals, instruct the trustees to declare the said principal to be due, or to waive the right so to declare, on such terms and conditions as such majority in interest shall deem proper, or may annul or reverse the election of the trustees ; pro- vided, that no action of the trustees or bondholders shall extend to, or be taken to affect, any subsequent default, or impair the rights resulting there- from. Aeticle Sixth. — The said trustees shall also, in their discretion, have full power to convey or release, upon the written request of the Danville, Ur- bana, Bloomington, and Pekin Railroad Company, any lands acquired or held for the purpose of stations, depots, shops or other buildings, and shall also have power to convey or release as aforesaid, on like request, any lands or property which in their judgment shall not be necessary for use in connection with the said railroad, or which may have been held for a supply of fuel, gravel, or other material ; and also to convey or release as aforesaid, on like request, any lands not occupied by the track which may become disused by reason of a change in the location of any station- house, depot, shop, or other adjacent building connected with the said railroad, or any part thereof, and such lands not occupied by the track and adjacent to such station-house, depot, shop, or other building, as the said Company may deem expedient to disuse or abandon by reason of such change, and to consent to any such change and to such other changes in the location of the track, or depot, or other buildings, as in their judgment shall have become expedient, and to make and deliver the instruments neces- sary or proper to carry the same into effect ; but any lands which may be acquired for permanent use, in substitution for any so released, shall be con- veyed to the trustees upon the trusts of these presents ; and the trustees shall also have full power to allow the said Company from time to time to 35 dispose of, according to its discretion, such portions of the equipment, ma- chinery, and implements at any time held or acquired for the use of the said railroad, as may have become unfit for such use, replacing the same by new, which shall be conveyed by the said Company to the trustees, or to be other- wise made subject to the lien and operation of these presents. Aetkile Seventh.— On the first day of April, eighteen hundred and seventy-three, and on the first day of April in each succeeding year thereafter, the said parties of the first part, their successors and assigns, for the further security and ultimate redemption of the bonds intended to be secured hereby, and for the creation of a sinking fund for that purpose, shall pay to the trustees the full sum of ten thousand dollars. And the trustees shall deposit the sum to be paid over to them in the Farmers’ Loan and Trust Company in the city of New York, or in some other depository which shall be in their judgment safe. And the said moneys, together with all accumulations of in- terest thereon, if any, which may actually come into the hands or within the disposal of the trustees, shall be laid out and invested by them in the pur- chase of bonds secured by these presents, upon the most favorable terms on which they can be purchased, but not exceeding the par of the said bonds and interest ; and, preparatory to such purchase of bonds, the said trustees shall give ten days’ notice thereof in one or more of the daily newspapers published in the city of New York, and in the city of Urbana, in the State of Illinois, and shall make the said purchase at the lowest price or prices at which the bonds may be offered, pursuant to such notice, or at such lower price or prices as the trustees may be able to obtain the same after such notice ; or such purchases may be made in the discretion of the trustees, at the Brokers’ Board in the city of New York, or at any public sale in said city ; the expenses of said advertising and purchase being defrayed out of the moneys paid to the trustees, as last above mentioned. The bonds so pur- chased, with the coupons thereto annexed, shall be immediately cancelled by the said trustees, and a certificate of the numbers and amoant of said bonds shall be immediately furnished by the said trustees to the President of the said Danville, Urbana, Bloomington, and Pekin Eailroad Company. In case bonds secured by these presents cannot be purchased at par and interest, as above provided, within three months after the expiration of the notice, as aforesaid, then the said trustees may, in their discretion, invest the said sinking fund moneys in such securities as may from time to time be re- commended to them by the President of the said Danville, Urbana, Bloom- ington, and Pekin Kaihoad Company, for the time being, or by the Board of Directors of said Company. Ajrticee Eighth. — It is hereby declared and agreed that it shall be the duty of the trustees to exercise the power of entry hereby granted, or the power of sale hereby granted, or both, or to proceed by suit or suits, in equity or at law, to enforce the rights of the bondholders in the several cases of default herein specified, in the manner and subject to the qualifications herein expressed, upon the requisition of the bondholders herein required, as foUow^s : 36 First — If the default be as to interest or principal of any of the said bonds, or as to any payment into the sinking fund established by these presents, upon a requisition in writing, signed by any holder or holders of not less than one hundi-ed of the said bonds, and a proper indemnification by such holder or holders to the trustees, against the costs and expenses to be by them incurred, it shall be the duty of the trustees to enforce the rights of the bondholders under these presents, by entry, sale, or suit or suits, in equity or at law, as they, being advised by counsel learned in the law, shall deem most expedient for the interests of the holders of said bonds ; subject to the power hereby declared of a majority in interest of the holders of said bonds, by a requisition in writing under their hands and seals to instruct the said trustees to waive such default upon the actual re- payment of the interest in arrear, with interest thereon, and the expenses in- curred by reason thereof, or, upon adequate indemnity as aforesaid, to en- force the rights of the bondholders by reason of such default ; provided, that no action of the said trustees or bondholders, or both, in waiving such default or otherwise, shaU extend to or be taken to affect any subsequent default, or to impair the rights resulting therefrom. Second .— the default be in the omission of any act or thing required by these presents for the further assuring the title of the trustees to any prop- erty or franchises now possessed, or hereafter acquired, or in the omission to comply with any provision of these presents to be observed, performed or kept by the said Company, then, and in either of such cases, the trustees may enforce in their discretion, and upon the requisition as aforesaid of a majority in amount of the holders of the bonds secured by these presents, it shall be their duty to enforce the rights of the bondholders by reason of such default, subject to the power hereby declared of a majority in interest of the holders of the said bonds, by requisition in writing to instruct the said trus- tees to waive such default, or, upon adequate indemnity as aforesaid, to en- force the rights of the bondholders by reason thereof ; provided, that no action of the said trustees or bondholders, or both, in waiving such default or otherwise, shall extend to, or be taken to affect, any subsequent default, or to impair the rights resulting therefrom. Article Ninth. — If the parties of the first part shall well and truly pay, or cause to be paid, the principal of the said bonds, when the same shall be- come due, and all interest thereon, when the same shall have become pay- able, and shall have been demanded, according to the tenor of said bonds and of the coupons thereto annexed, and shall also make the payments into the sinking fund aforesaid by these presents required, and comply with all other requirements hereof, according to the true intent and meaning of these presents, then and in that case, the estate, right, title, and interest of the said parties of the second part, and their successors in the trust hereby created, shall cease, determine, and become void ; ©therwise, the same shall be and remain in full force and virtue. 37 Aeticle Tenth. — It is mutually agreed by and between the parties hereto, that the said trustees shall be entitled to just compensation for all services which they may hereafter render in their trust, to be paid by the said Com- pany, or out of the income of the property, and for that purpose may at any time apply to the courts without notice to any person, except the said parties of the first part, their successors or assigns ; that said trustees or their successors may resign or discharge themselves of the trust created by these presents by notice in writing to the said Railroad Company three months be- fore such resignation shall take effect, or such shorter time as they may ac- cept as adequate notice, and upon the due execution of the conveyances hereinafter required. That in case at any time hereafter the said trustees shall resign or become incapable to act in the said trust, their succ essor or successors shall be ap- pointed by them with the cons ent of the said Railroad Company, and the trustee or trustees so appointed shall thereupon become vested with all and singular the powers, authorities, and estates granted to or conferred upon the parties of the second part by these presents, and all the rights and interests requisite to enable them or him to execute the purposes of this trust, without any further assurance or conveyance, so far as such effect may be lawful ; but the parties of the second part shall immediately execute all such con- veyances and other instruments as may be fit or expedient for the purpose of assuring the legal estate in the premises to the trustees so appointed. Pro- vided, nevertheless, and it is hereby declared and agreed, that in case it shall at any time hereafter prove impracticable to appoint in the manner before provided, a successor in any vacancy which may have happened in said trust, application in behalf of all the holders of the bonds secured hereby may be made by the parties of the second part, or if the trust be wholly vacant, by holders of the bonds secured hereby to the aggregate amount of one hundred thousand dollars, to any Circuit Court of the United States, for any Judicial District in which any part of the aforesaid railroads may be situate, or to any other court of competent jurisdiction, for the ap- pointment of a new trustee or new trustees. And the said parties of the first part, for themselves, their successors and assigns, in consideration of the premises, and of one dollar to them duly paid by the said parties of the second part, the receipt whereof is hereby ac- knowledged, hereby covenant and agree to and with the said parties of the second part, and their successors or assigns, that whenever, and as often as the said parties of the first part, their successors or assigns, shall hereafter acquire any lands, or any equipment, or any other property or things, of whatever name or nature, for use in connection with the said railroad, or of any part of either thereof or of any other raihroad which the said Company is authorized by law to construct, or shall acquire any other property, right, franchises, or things whatsoever, the said parties of the first part, their suc- cessors and assigns, shall and wiU acquire, possess and hold the same and every part and parcel thereof, upon and subject to the trusts of this inden- ture, until conveyance thereof, in pursuance of the covenant next hereinafter 38 contained, shall be duly made and delivered to the said parties of the second part, or their successors in the trust by these presents created. And the said parties of the first part for themselves, their successors and assigns, in consideration of the premises, and of one dollar to them duly paid by the said parties of the second part, the receipt whereof is hereby acknowledged, hereby covenant and agree to and with the said parties of the second part, their successors and assigns, that the said parties of the first part, their successors and assigns, shall and will from time to time, and at all times hereafter and as often as thereunto requested by the trustees under this indenture, execute, deliver, and acknowledge all such further deeds, conveyances, and assurances in the law for the better assuring unto the said parties of the second part and their successors in said trust, upon the trust herein expressed, the railroads, equipments, appurtenances, franchises, prop- erty, and things hereinbefore mentioned, and to which the said Company is or may hereafter, for any reason, become entitled, or which the said Com- pany, its successors or assigns, may in any manner acquire, and also all other property, rights, franchises and things whatsoever which may hereafter be acquired by the said parties of the first part, their successors or assigns, as by the said trustees, or their counsel learned in the law, shall be reason- ably advised, devised, or acquired. And it is also mutually understood and agreed between the parties hereto, that the said parties of the second part, and their successors in said trust, shall be accountable, liable or responsible for reasonable care and diligence only in the performance of the trusts hereby created, and in the management of the said estate and property, in like manner as a bailee without reward, and shall not be accountable, liable or responsible for the acts of any agent, depositary or substitute employed by him or them, when such agent, depositary or substitute shall have been selected with reasonable discretion. In witness thereof, the said parties of the first part have caused their corporate seal to be hereto affixed, and the same to be attested by the signatures of their President and [seal.] Secretary, and said parties of the second part have caused their corporate seal to be hereto affixed, and the same to be attested by the signatures of their President and Secre- tary, to evidence their acceptance of the trust hereby cre- ated, the day and year first above written. C. B. Geigus, W. J. Ermentkout, President. Secretary. CERTIFICATES, State of New York, City and County of New York, Be it remembered that on this thirteenth day of April, in the year of our Lord one thousand eight hundred and sixty-nine, in the city and county aforesaid, before me, Frederic N. Dodge, a Commissioner residing in said city, duly appointed a Commissioner by the Governor of the State of Illinois to take the acknowledgment and proof of the execution of deeds and other instruments in writing, under seal, to be used and recorded in said State, personally appeared E. G. Eolston, President, and G. P. Fitch, Secretary, of the Farmers’ Loan and Trust Company, who are personally known to me to be the persons whose names are subscribed to the foregoing indenture, or in- strument, as having executed the same ; and the said E. G. Eolston, Presi- dent, and G. P. Fitch, Secretary, of the said Farmers’ Loan and Trust Company, being by me severally duly sworn, deposed and said, each for him- self, that they reside in the city of New York ; that the seal affixed to the foregoing indenture, or instrument, is the corporate seal of the Farmers’ Loan and Trust Company, and was affixed thereto by the authority and order of the said Farmers’ Loan and Trust Company, and that they subscribed their names thereto by like authority and order as such President and Secre- tary respectively, and for the uses and purposes expressed in said instrument. In witness whereof I have hereunto set my hand and affixed [seal.] my official seal, as Commissioner of the said State of Illi- nois, at my office, in the city and State of New York, this 13th day of April, A. D. 1869. (Signed) Frederic N. Dodge, Commissioner of the State of Illinois for the City of New York. State of New York, City and County of New York, Be it remembered that on this third day of May, in the year of our Lord one thousand eight hundred and sixty-nine, in the city and county aforesaid, before me, Frederic N. Dodge, a Commissioner residing in said city, duly appointed a Commissioner by the Governor of the State of Illinois to take 40 the acknowledgment and proof of the execution of deeds and other instru- ments in wilting, under seal, to be used and recorded in said State of Illinois, personally appeared C. R. Griggs, President of the Danville, Urbana, Bloom- ington, and Pekin Railroad Company, who is personally known to me to be the person whose name is subscribed to the foregoing indenture, or instru- ment, as having executed the same as such President , and the said C. R. Griggs, being by me duly sworn, did depose and say that he resided in the city of Urbana, county of Champaign, and State of Illinois ; that he was the President of the said The Danville, Urbana, Bloomington, and Pekin Rail- ^^oad Company ; that the seal affixed to the foregoing indenture, or instru- ment, was the corporate seal of the said The Danville, Urbana, Bloomington, and Pekin Railroad Company, and was so affixed by authority and order of the Board of Directors of said Company, and that he signed his name thereto by like authority and order as President of said Company ; and the said C. R. Griggs acknowledged to me that he had executed the said indenture, or in- strument, and sjgned, sealed, and delivered the same as the free and voluntary act and deed of the said The Danville, Urbana, Bloomington, and Pekin Railroad Company, for the uses and purposes therein expressed. In witness whereof I have hereunto set my hand and affixed my [seal.] official seal, as Commissioner of the said State of Illinois, at my office, in the city of New York, this 3rd day of May, A. D. 1869. (Signed) Feedekic N. Dodge, Commissioner of the State of Illinois for the City of New York. State of New Yoek, City and County of New York. Be it remembered that on this 3d day of May, one thousand eight hundred and sixty-nine, in the city and county aforesaid, before me, Frederic N. Dodge, a Commissioner, residing in said city, duly appointed a Commissioner by the Governor of the State of Illinois to take the acknowledgment and proof of the execution of deeds and other instruments in writing under seal, to be used and recorded in said State of Illinois, personally appeared W. J. Ermentrout, Secretary of the Danville, Urbana, Bloomington, and Pekin Railroad Company, who is personally known to me to be the person whose name is subscribed to the foregoing instrument or indenture as having exe- cuted the same as such Secretary, and the said W. J. Ermentrout, being by me duly sworn, did depose and say that he resided in the city of Urbana, county of Champaign and State of Illinois; that he is the Secretary of the said The Danville, Urbana, Bloomington and Pekin Railroad Company ; that the seal affixed to the foregoing indenture or instrument is the corporate seal of the said The Danville, Urbana, Bloomington and Pekin Railroad Company, and was so affixed by authority and order of the Board of Directors of said Company, and that he signed his name thereto by like authority and order, as Secretary of said Company ; and the said W. J. Ermentrout acknowledged 41 to me that he had executed the said indenture, or instrument, as the free and voluntary act and deed of the said The Danville, Urbaua, Bloomington and Pekin Bailroad Company for the uses and purposes therein expressed. In witness whereof, I have hereunto set my hand and affixed my official seal, as Commissioner of the State of Illinois, at [seal ] my office in the city of New York, this 3d day of May, A. D. 1869. (Signed) Feederic N. Dodge, Commissioner of the State of Illinois for the City of JSew York. United States of America, ) State of Illinois. j Office of Secretary of State. I, Edward Kummel, Secretary of State of Illinois, hereby certify that Frede- lic Dodge, before whom the acknowledgment of the foregoing instrument was made, is now and was at the time of taking thereof, a Commissioner of this State in and for the city of New York in the State of New York, duly au- thorized and empowered by law to take the same ; that I have compared the signature to the same, and the impression of the seal thereto attached, with the official signature and seal of the said Commissioner, on file in this office, and verily believe them to be the genuine official seal and signature of the said Commissioner. In wdtness whereof, I hereto set my hand and affix the great [seal.] seal of State, at the city of Springfield, this 7th day of May, A. D. 1869. (Signed) Edward Bummel, Secretary of State. State of Illinois, | Champaign County, ) I, E. T. Whitcomb, Clerk of the Circuit Court, and ex-officio Becorder wuthin and for said county, in the State aforesaid, do hereby certify that this mortgage or trust deed w'as filed for record in my office, the fifth day of May, A. D. 1869, at the hour of 4 o'clock p. m., and duly recorded in Book “ U ” of Mortgages, on page 91. E. T. Whitcomb, Clerk. State of Illinois, ) Piatt County. J ' I, William T. Foster, Clerk of the Circuit Court and ex-officio Becorder in and for said county and State, do hereby certify that the above and foregoing 42 mortgage or trust deed was filed for record in my office this fifth day of May, A. D., 1869, and duly recorded in Book “T ” of Mortgages, page 65, etc. In witness whereof, I have hereunto set my hand and official [seal.] seal of office at Monticello, this 5th day of May, A. D. 1869. (Signed) W. T. Foster, Clerk Circuit Court and ex-officio Eecorder. State of Illinois, ) Vermillion County, j I, George Dillon, Clerk of the Circuit Court of said county and ex-officio Recorder of said county, do hereby certify that this mortgage or trust deed was filed for record in my office on the 5th day of May, A. D. 1869, at the hour of ten o’clock a. m. and duly recorded in Book No. 8 of Mortgages of said county and on page 500, etc. Witness my signature and seal of said Court at Danville, [seal.] May 5, 1869. (Signed) George Dillon, Clerk and ex-officio Eecorder. State of Illinois, ) De Witt County, j I, William L. Chambers, Clerk of the Circuit Court and ex-officio Recorder in and for said county and State, do hereby certify that the above and fore- going mortgage or trust deed was filed for record in my office this 6th day of May, A. D. 1869, and duly recorded in Book No. 4 of Mortgages, on page 372, etc. In witness whereof I have hereunto set my hand and seal of [seal.] office, this 5th day of May, 1869. (Signed) W. L. Chambers, Clei'k. State of Illinois, ) McLean County, J ’ Recorder’s Office. I, Robert E. Guthrie, Clerk of the Circuit Court and ex-officio Recorder in and for said county, in the State aforesaid, do hereby certify that there was filed for record in this office, on this 6th day of May, A. D. 1869, a mortgage or trust deed, or instrument, in writing, bearing date the 1st day of April, A. D. 1869, at 3^ o’clock p. m., from The Danville, Urbana, Bloomington, and Pekin Railroad Company to the Farmers’ Loan and Trust Company, New' York. In witness whereof I have hereunto set my hand and [seal. ] official seal, the day and year first above wu’itten. (Signed) Robert E. Guthrie, Clerk. State of Illinois, ) Tazeioeil County, f I, William P. Allensworth, Clerk of the Circuit Court and ex-officio Re- corder within and for said county, in the State aforesaid, do hereby certify that this trust deed, or mortgage, was filed for record in my office the 6th day of May, A. D. 1869, at the hour of 8 o’clock p. m., and duly recorded in Book “N,” Mortgages, on page 306, etc. [seal.] Witness my hand and the seal of said Court. (Signed) Wiitjam P. Allensworth, Clerk. i oi/ford Bros. Makers Syracuse, N. Y. PAT. JAfT. 2 \. 1998 JUHNO'S- UNIVERS>TV 385.4 0237f COOJ first mortgage save cent gotd bonds 088292302 A ^