Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1837-09-05

..,r,v "a, enumerated in the district ioI
..,s;~i, lid hranch was Established "heH
49," '' 80 40, s,rficient applications tor tnc
.'..,.,.;es tor which said officers are eStao-
liShed. That the
Eo,,- Iss, GEARS Of the time allowed TOT tue
-oT,inuaIice Of this charter, shall OS =,
-ivelv employed in winding up the Ill"IaS ~ "
the Institution, and that no ne" 'oS''s "
discounts shall be given or allowed uu''"h
he eo;S last four wears of the chaT ~,
Ser "A. Re il further enacted ia! !ne
S,srS sb Ii hs divided into eight 0anNnE
.i;s,~ictS IN seven of which SAID 0'S.F''' :. ;
$50 sL III he established branch "l S9lu
49, With the capital before PROVIDE" lot
=. o III far the purpose Of aitord'ns oanN
e ea",i;,ies to the citizens OF those couh-
,bot compose said districts; the no'her
49,, I'LL he required to do the adoltiohal
husiness of one district. r., r
Sec. a. Beh further enacted, mar az
49, the saIe os the bonds for raising the cap
-, IS said Union Bank herein before proVi-
Sa1 f,r and after the realizing the proceeds
ofso;d s.I,. on said bonds, it shall De the
Snt,, of,Le hoard Of directors OF sad BANK 10
refund and pay over to the SuosC' ~ ="
The capital stock of said BANK 'nI 0.'Ou ~
paid by them in cash on said ssoCk' as
luircd in the eleventh seotiD Oh ''''S ~
with interest at the rate OF hive per cent pei
,nnum; said rcfundng to take Place, anu
I've made as follows: one-thlrd ~ tnfN
laws; one-thirl in sixty days, and one-tnlso
in ninety days after the sald time neEe'"
above recited and provided to''
See. As. Be ii further tnac1ed' mar '1e
hoard Of directors of said Union bank' are
hereby authorized and empowered 10 NIX
such salary or compensation as fhey may
deem necessary anG proper tor the com'i'S-
sioners appointed by the thirteenth seStioh
Of this act, and to pay the same OUT OF the
funds OF said bank.
Sec. As. Be it f..rtheE enacted, That
when the said Union Bank shall have gone
into operation, as provided for in the twelfth
section Of this act, the said bank shall not
he required to loan on mortgages or STOCK,
until the bonds specified in the nth section
Of this act, shall have been sold, and the
proceeds Of sale be realized by said bank /;
but the said bank NAV loan, deal III eX-
change, discount, and take such securities as
they shall deem proper, and on such time
as the board of directors of said bank may
prescribe: Provided. however, That the
loans so TO be made, shall be at the same
rate Of interest as prescribed IN the thlrty'
eighth section of this act Ana, froVlaed
further, That said loans may be made to
any citizens Of the State.
Sec. AZ. Be il further enacted, That the
FIFTH section of this act, whereby the faith OF
this State is pledged for the payment and
redemption of the loan contemplated by this
act, be referred to the next Legislature Of
this State, in pursuance Of the ninth section
Of the seventh article Of the constitution;
and that this act be published, under the
direction Of the Governor, in at least three
newspapers Of this State, for three months
previous to the next regular election; and
that the act together with the yeas and nays
thereon, be entered on the journals Of the
Senate and House Of Representatives.
JNO. L. IRWIN,
ShE0tey o the House Of Representatives,
A. &. McNUTT,
President Of the Senate.
Approved, so far as the Rctioa Of this
Legislature Is reoagOized-JanuarV2l 1887. |
CHARLES LYNCH.
IN ACT supplementary 10 AN act 70 iucor-
Porate the subscribers to the Mississippi
Union Bank.
!. Be i: enacted by the Legislature of
The STATE Of Mississippi, Tha, books for the
subscription Of the stock Of said bank, shall
be opened in the county Of De Soto, at the
seat OF justice thereof. under the inspection
OF Richard c. Hancock. Felix Lebennn, and
Milton Blocker; for the county of Lafay-
cite. c. ]. Butler, J, p. Sneed, and F. c.
oIbert; for the county Of Newton, Bid
Satfold, James Hudson, James Ellis; for the
county OF Tippah, Edmond ] Baily, II.
bowers, and John w. Thompson; COR the
county OF Tishemingo, Thomas Palse Keys
and John Rives; as managers under the
same rules and regulations as are prescribed
tor the subscription of the stock of said |
bank IN the other counties of this state bv |
the act to which this is a supplement.
Approved, May 10, 1887.