Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1837-08-22

,D,Cev- not enumerated in the district for
wh;eH said brasch was established when
,here are not sufficient applications TOR the
counties for which said othcers are estab-
lished.
Sec. 90. Be IL further enacted. That the
four last years Of the time allowed for the
continuance Of this charter, shall be exclu-
sively employed in winding up the affairs Of
the institution, and that no new loans or
discounts shall be given or allowed during
the said last four years Of the charter.
Sec. IS. Be IL further enacted That the
State sh II be divided into eight banking
districts, in seven Of which said districts
there shall be established branch Of said
bank, with the capital before provided for
TO each, for the purpose OF afording bank
ing facilities to the citizens OF those coun-
ties that compose said districts; the mother
bank shall be required to do the additional
business Of one district.
Sec. ~. Be further enacted, That al!
ter the sale os the bonds for raising the cap
leal Of said Union Bank herein before provi-
I'D for, and after the realizing the proceeds
n .a;Gf sale on said bonds, it shall be the
dntv ofthe hoard Of directors IF said bank to
refund and 2ay over to the subscribers to
he caDital stock Of said bank, the amount
maid By them in leash on said Stock as re-
ouired in the eleventh section OF this act,
with interest at the rate Of FIVE per cent per
annum; said refunding to take place. and
be made as follows: one-third in thirty
DAYS; one-third in sixty days, and one-third
in ninety days after the said time herein
above recited and provided toT.
Sec. As. Be il further enacted, That the
of directors of said Union Bank, are
O@ 7ut horizel and empowered, to tx
"..oL o., ,Nr compensation as they may
49,. os.@l ~ and proper far the commits
-;o~",.S 1885, e,4 by the thirteenth section
% 49, -. -PL1o nay the same out OF the
funds OF said bank. L.. ..o.,.5 That
20; no. DC ,T.J n uNk shall have gone
into operation, as prOvideL .nk sbaiI MT
section Of this act, the said D. ".s ~. .,ocE
he required 10 loan on mOrt2 d '%F,h s.c,;oT
until the bonds specified in the l. anJ The
IT this act, shall have been sol, . LorL
but the said bank may loan, deal go
change, discount, and take such securh -
hey shall deem proper, and on such
q the board Of directors Of said bank N =
prescribe: Provided, hoEseUer, That tn
cans so 20 be made, shall be at the same |
ate Of interest as prescribed in the thirty.
Eighth section of this act ind, 1troVtde6
further, That said loans may be made to +;
ny citizens If the state.
Sec. ~. Be il further enacted, That the
FIJI section Of this act, whereby the faith OF {
his State is pledged for the payment and
exemption Of the loan contemplated by TINS
CT, be referred to the neXE Legislature OF
his State, in pursuance Of the ninth section !
the seventh article Of the constitution;
nd that this act be published unoer the
ERECTION Of the Governor, in at least thFee Y
ewspapers Of this State, for three months
reviouS to the next regular ele CNIon; ana
lat the act together with the yeas and nays I
lereon, be entered on the jOurnall Of the
enate and House Of Representatives.
JNO. L. IRWIN. {
Sneaker The House Of Representative.
A. &. McEUTT,
President ofthe Senas,"
Approved, so far as the action of this
legislature is rcCognized-January2l, 1887.
CHARLES LYNCH.
N ACT supplemental to an act to lncOr. a
poEate the subscribers TO the Mississippi
Union Bank. V
81. Be IL enacted by the Legislature of b
e STATE Of lMissisNihhi, That books for the
description Of the stock Of said bank, shall
: opened in the county of De Soto, at the G
at Of justice thereof, under the inspection
Richard 6. Hancock, Felix Lebenon, and
Iilton Blocker; for the county Of LafAy- D
.e, C. J. Butler, J. p. Sneed, and F. C.. !
olbert; for the county Of Newton, Bid ~
fold, James Hudson, James Ellis; for the ID
unty Of TippNh, Edmond Baily, HI.
owers, and Iohu w. Thompson; for the >
unity Of TisheHTngO, Thomas Palse Keys h
ID John Rives; rs managers under the
me rules and reg uEations as are prescribed U