Piney Woods planter and Amite union literary reflector. [volume] (Liberty, Miss.) 1838-1838, 1838-03-31

rectory of the mother bank, and that
no person not citizen Of this State,
shall ever own any stock in this bank.
SEC. z. Be ii futher enacted, That the
said bank shall never issue its own bills
at any one time to IN amount exceed
| ing twice the amount ofits capital ac-
tually paid in, and that the bills of this
bank shall be signed by the President
and contersigned by the cashier Of the
mother bank, and shall be obligatory
on the company according to the face
of the same.
SEC. 8. Be 1t further enacted, That the
resident citizens of the different districts
shall be entitled to take the stock alIot-
ted 70 their respective districts: Pro0i-
ded They may have taken it within one
hundred and twenty days from the time
of, opening the said books, and after
that period itmay be taken by any cit
izen of this State; and that portion of
the stock of the said Union Bank to be
subscribed for on the part of the State,
as provided for in the first section of
this act, shall be taken from the whole
amonntofthe capital stock ofsaid bank,
and the subscriptions to stock at the
mother bank and several branches Of
said bank shall be so graduated as to
reduce the amount Of stock to be sub
scribed for by individuals in a just ratio
proportionate to their capital; and that
nothing in the charter of the said bank
shall be SO construed as to deprive the
State of the amount of stock provided
for in the first section Of this supple
mental act, and in no case shall this act
be SO construed as to allow more than
five directors on the part ofthe State
as provided for in the original act.
SIC. 8. BE 1t further enacted, That the
president and directors Of the said
Mississippi Union Bank, or the mana
gers thereof, shall have ample power to
appoint three commissioners to negoti-
ate and sell the State bonds, provided
for III the fifth section of the act incor-
porating the subscribers to the Missis-
sippi Union Bank, in any market with
in the United States, OF in any foreign
market, under such rules and regula-
tions as may be adopted by said presi-
dent and directors or managers, not in
consistent with the provisions of the
charter of said bank: Provided, Said
bonds shall not be sold under their par
value, and that said commissioners shall
not accept Of any commission or agen-
cy from any other banking or rail road
company whatsoever, for the disposal
of any bonds for the raising of money,
or act as agents for the procuring of
loans upon the pledge otrcal estate for
the benefit of any other corporation.
SEC. 10. Be ii further enacted, That
the said comissioners shall, in compen-
sation for their services, be paid out of
the funds of said bank, and all expen-
ses thereon be betrayed by the said
bank.
SEc. ii. BE ii further enacted, That
books Of subscription for stock in the
said bank, be opened in the county Of
Anite, under the superintendent of
o. w. Caul6eld, in place ofWm H.
Dillingham;.
SEC. 10 BE ii further enacted. That
the county of Newton is hereby attach
ed to the first district.
SEC. Is. Be IL flthsr enacted, That
in Estimating plantations, the ratio of
land animproved shall not exceed the
land in actual cultivation, in a greater
than ten acres Of uncultiva-
Ted land to one Of cultivated or cleared
land fit for cultivation: and that afterE
a tract Of land being composed Of CON
nected or contiguous parts shall exceed
one thousand acres. then the ratio OF
unculivated lands shall not in such es-
innate exceed five to one of the lands
in one entire tract susceptible OF being
cultivated; Provided, hosrtpcr, Ihat
when the lands not in actual cnliiva-
ton shall exceed the ratio above men
toned, the excess shall be considered
as uaimproycd lands. X
Sec. Ia. Be Il further enacted, That
the branch Of The Mississippi Union
Bank for the third district, is hereby
located at the town Of Ripley, IN the
county of Tippah.
2 SEC. rs. Bat further enacted, That
The branch OF the Union Bank, for thc1
ffh district, shah be located in the
town OF lonola, in the county ofaPonof
Ia. at'
SEC. l6. Be il further t,aaetsds That
20 much of the original charter ofthe
Union Bankofthe State Of Mississippi
as conflicts with the provisions Of tins