Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1838-03-10

person authorized to administer A. NY
Their respective Counties 'u @lh ID
SEC. 8. BE il further eno.,., ~
managers ofthe mother bank sh,l issaSe
the managers of the Subscription ,a'' ~, luipab
the several counties the form OS,t o0oEsq
cages and notes, with all oths, ~ me mort
forms for taking stock and scc,, NECESSARY .l.g
10 property mortgaged. ai@
commissioners appointed to snn,.,
stockholders and obtain loans ~ Oec'ns
gage, as well as the managers Of ~ a mort
SEC, 8. BE il further ee enae ). ne 4 sb
!ne subscribers to the stock in II. ,Aa
Union Dank, or their legal reDrs s @l
tlves, may at any time transfer XII ,s'eaa
pective shares to any citizen Of ,S;s s' I. I''
with the appreciation of the dirac,o o'ae
the mother bank, and that no person y y
citizen OF this State, shall ever o~1 no''
stock in this bank. 0"a any
SEC. 2. Belt further enacted. H.,
SAID bank Shall never issue its ow M, y. ~
at any one time to an amount eyo ou Tla
twice the amount of its capital act ,
paid in, and that the bills of this ban i's "a
he signed by the President and oo" o'aI
signed by the cashier Of the motbas rJ L.a
and shall be obligatory on the cor "aaa
according to the face of the same 'iy
SEC. 8. Be ii further enacted Tb,,a.
resident citizens Of the different d;s s,M
shall be entitled to take the stock aloaas
to their respective districts: Pro,s, %
They may have taken it within one Ina
dred and twenty days from the lime ra 4
opening the said books, and after tb,, \.
Rod it may be taken by any citizen orSi,
State; and that portion of the stock orA'
said Union Bank to be subscribed "a, !,
the part of the State, as provided f., h
the first section of this act, shall be taken
from the whole amount of the capital sfoct
of said bank, and the subscriptions to stool
at the mother bank and several branche,
of said bank shall be so graduated as 10 re-
duce the amout Of stock to be SUBSCRIBED
for by individuals in just ratio propOr.
tomato to their capital; and that nothing
in the charter ofthe said bank shall be 20
as to deprive the State Of
amount of stock provided for in the first
section of this supplemental act, and in no
case shall this act be SO construed as toa..
low more than five directors on the part
ofthe State as provided for in the Original
act.
Sec. 8. BE IL further enacted, That the
president and directors of the said Missis.
'ippi Union Bank, or the managers there.
Of, shall have ample power to appointthre
commissioners to negotiate and sell the
State bonds, provided for in the fifth sec.
ion OF the act Incorporating the subscr
oers to the Mississippi Union Bank, in any
market within the United States, or in any
orelgn market, under such rules and reg
llatIons as may be adopted by said presi
tent and directors or managers, not incon
'istent with the provisions of the charte
If said bank: Provided, Said bonds shall
lot be sold under their par value, and thai
aid commissioners shall not accept Of any
or agency from any otheI
or rail road company whatsoev
n. for the disposal of any bonds for the
alslng of money, or act as agents for the
'rocuring of loans upon the pledge ofrea
state for the benefit of any other corpo
alton.
SEC. 10. Be ii further enacted, Tha
no SAID commissioners shall, in com
ensatlon for their services, be paid ou
the funds of said bank, and all expenses
lereon be betrayed by the said bank.
SEC. IL. BE it further enacted, Tha
ooks OF subscription for stock in the Sai(
ank, be opened in the county of Amite
nder the superintendent of o. w. Caul
cid, in place Of VIM. H. Dillingham;
SEC. l2. Be ii further enacted, Thai
lie county Of Newton is hereby attached
the first district.
Sec. 10. Be it further enacted, That in
'tlmating plantations, the ratio Of land
improved shall not exceed the land in
;tual cultivation, in greater proportion
ian ten acres Of uncultivated land to one
cultivated or cleared land fit for cult
alton; and that after a tract Of land be-
g composed Of connected or contiguous
'rts shall exceed one thousand acres, then
le ratio ofuncultivated lands shall not IN
'ch estimate exceed FIVE to one of the
nds IN one entire tract susceptible OF 70
g cultivated: Provida2, howeVer, Tha'
men the lands not in actual cultivation
'all exceed the ratio above mentioned
g excess shall be considered as unimpro-
ID lands.
Sec. IA. Be 1t further enacted, That
Q branch ofthe Mississippi Union Bank
the third district, is hereby located at
e e town of Ripley, in the county ofTip-
SEC. Is. Be IL f,7thsr enacted, That
. branch of the Union Bank, for the fifth
trlct, shall be located in the town of Pc.
Ia, In the county of Ponola.
SEC. l6. BE IL further enacted, That
much Of the original charter Of the I'm
Bank Of the State of Mississippi, as
dicts with the provisions of this act, be
the same il horcby repealed.
M "A II