Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1838-03-17


N the new stockholders furnishing mort
,age 10 the satisfaction OF at least ma
ori,v of all the directors; in all such ca
,es oftransfer and discharge, the vote shall
be taken by yeas and nays
Sec. 80 BE il further enacted, That as
soon as directors are appointed as herein
before provided for they shall proceed 10
the election of president, and the same
shall be notified to the Goveror oil the
State, who will, thereupon execute TO the
said hank. from time to time, bonds in a
mount prouortioned TO the sums subscrib-
ed. and secure to the satisfaction OF the di-
rectors, as required by the charter, until
the whole amount of fifteen million hvc
hundred thousand dollars shall be fur
nished in bonds, as herein before provided
for.
Sec. 81. Be IL further enacted, That the
State of Mississippi shall be entitled to q
credi, of two hundred thousand dollars OH
furnishing notes or obligations of such sum
as may be required to be used, and paying
ANNUALLY, and in advance, and each and ev-
cry stockholders shalt be en- tiled TO one
| half of the total amount of their respec.
tive shares, which shall bear interest al
the rate of seven per cent per annum; lou {
per cent of such loans and interests shall
be paid annually: and the indi, ldual notes
Of the Stockholders renewed annually, un
til the whole loan shall be paid and extin
guished.
Sec. SO. Be il further enacted, THAI
there shall be established seven Offices o
discount and deposites as follows, to wit:
First. One at Macon, in the county o.
Noxubee, for the use and accommodation
Of the counties of Lowndes, Octibbahu
Winston, Noxubbee, Kemper, Lauderdalt
and Neshoba, with capital of one mil
lion eight hundred thousand dollars.
Second. One at Augusta, in the county
OF Perry, for the counties of Clark, Jas
per, Covington, Jones Wayne, Jackson
Hancock, Green, Perry and Marion, will
a capital Of one million Of dollars.
Taird. One at Aberdeen, in the coun
~ of Monroe, for the county Of Monroe
ltawamba, Tishcmingo, Tippah, Pon,otoc
Chickasaw and Marshall, with a capita
OF one million Of dollars.
| Fourth. And one at the town Of Lex
ington, in the county Of Holmes, for tn
counties Of Yazoo, Holmes, Carroll, Choc
law, Attala and Leake, with capital o
one million nine hundred thousand dollars
Fifth. And one at the town Of Tilla
toba, in the county of Tallahatchie, an
for the counties Of Yalabusha, Tallahat
chic, Lafayette, De Soto, Ponola and Tu
MICA, with a capital of one million thre
hundred thousand dollars.
Sirth. One in the town Of Vicksbure
in the county Of Warren, Tor the countie
OF Claiborne, Warren, Washington, Boil
49,, c~-hon,.- u';,h c-r;.-l &c 49,, ~;
+ lion FIVE hundred thousand dollars.
} Seventh. One at Liberty, in the Cour
l ty Of Amite, and for the counties Of Pix,
: Amite, Wilkinson, Adams, Franklin AN
: Jefferson, with capital OF two millions
/; dollars.
: The counties Of Madison, Kinds, Cop
!, all, Simpson, Rankin, Scott, Smith an
Lawrence, to be the eighth district, an
r to be supplied by the mother bank.
Sec. SO. Be ii further enacted, That tn
J parent bank Of the Mississippi Unto
Bank. shall be located in Jackson, in tn
county of Kinds.
Sec. 81. Be ii further enacted, That Their
: shall be annually appointed by The boar
OF directors of the mother bank, to az
minister the affairs Of said office of di.
: count and deposite, nine directors, citizen
ofthe State, residing & domiciliated with
in the counties for which said Offices shal
constitute a quorum to tranact business
: and said directors shall choose from O
} mong themselves president, and shall b
subject to all such regulations and rule
I as may be adopted by the said board Of
rectors Of the mother bank, for the gov
eminent Of said offices, not inconsisten
, with the provisions Of this charter.
Sec. 35. BE IL further enacted, That Their
shall be appointed for each Of the afore
I said offices ofdiscount and deposite, cash
Ter, teller, and clerk, and other officers O
: servants that may be required, all orwhor
4 shall enter into bond for the faithful di,
= charge Of their duties; the amount an
r conditions Of which said bond shall be spe
D cited and provided for by the said direc
= tors Of the mother bank; and the said di
l rectors of the mother bank may remove
at their pleasure, any officers in said Of
tlceS Of discount ana deposIte, wheneve
the better management Of the bank MAJ
require such removal.
Sec. SO. Be IL further enacted, That III,
: directors Of said offices of discount and de
poslte, shall appropriate two.thlrds of tn,
, capital Of each Office, to loan on mortgage
and one-third to loan on promissory note
and bills Of exchange, as far as practica
: BILE, and the nature ofthe applications will
enable them so to do; and the board ofdi
rectors Of said offices Of discount and de
posite may loan or discount upon notes Sc
cured by mortgage.
Sec 81. Bet further enacted, That per.
sons borrowing on mortgage, shall be al.
lowed at the end Of twelve months to re.
new their bonds or notes "a tuaI ua monk I,