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

resident citizens OF the different dslr;r.
shall be entitled to take the stock aIlD,,Ss
10 their respective districts: Prm;SsI
They may have taken it within one w..
dred and twenty days from the Time !,
opening the said books, and after ina, :.
riod it may be taken by any citizen Of X,
State; and that portion Of the stock Of Il.
said Union Bank 10 be subscribed "a, ~
the part of the State, as provided e. /.
the first section of this act, shall be ,,ta.
from the whole amount Of the capital Stool
of said bank, and the subscriptions 10 s,oSs
at the mother bank and several branch.
of said bank shall be so graduated as om
duce the alnout of stock to be subscribe
for by individuals in just ratio prOn,
tionate to their capital; aud that nultiD,
in the charter Of the said bank shall B. =
construed as to deprive the State Ot% +
amount Of stocA provided Tor in the 6m
section Of this supplemental act, and in n
case shall this act be SO construed as tod
low more than five directors on the oar
OF the State as provided Tor in the osign
act.
Sec. 0. Be it further enacted, Tha,,h
president and directors OF the said Ni,ds
sippi Union Bank, or the manages lhe,e
OF, shall have ample power 10 appoint three
commissioners To negotiate and sell ,bs
State bonds, provided for in the fifth SOC,
ton of the act incorporating the subSd,
bers to the Mississippi Union Bank, in any
market within the United States, or IMAM
foreign market, under such rules and ug,
ulalions as may be adopted by said prss
dent and directors OF managers, moi lncUu
sislent with the provisions OF the charter
of said bank: Provided, Said bonds shall
; not be sold under their par value, aud that
said commissioners shall not accept Of any
commission or agency from my Other
banking or rail road company whasOsp
err, for the disposal of any bonds for TN
$ raising of money. or act as agents Tor lh
i. procuring OF loans upon the pledge olra
$ estate for the benefit Of any other corp
4 ration.
| Sec. 10. Be i, further endcIed, That
: the said commissioners shall, IN con-
o pensa,ion for their services, be paid cut
( OF the funds OF said bank, an. all expense
n thereon be betrayed by the said bank
o SEC. IL. BE it further enacted, laI
}. books Of subscription for stock in theai
:, bank, be opened in the county of Anti
o under the superintendent OF y. W, Cav,
:, field, in place Of Vim. Ii. Dillingham;.
e SEC. ls. Be it further enacted, That
If the county OF Newton is hereby ATTACHED
# to the first district.
J. SEC. IS. Be it further enacted, Thar
l. estimating plantations, the ratio Of LAM
J. unimproyed shall not exceed the land i
e actual cultivation, i'll greater propUlic
G than ten acres OF uncultlvated land TO on
G Of cultivated Or cleared land fit Tor cult
o walton; and that after tract Of land
r ing composed Of connected or contigaOv
e parts shall exceed one thousand acres, the
the ratio Of uncuItivated lands shall moi
G such estimate exceed five 10 one OF Il
= lands in one entire tract susceptible Obj
f ing cultivated: Provided, however, Tn
) when the lands not in actual cultivate
: shall exceed the ratio above mentions
e the excess shall be considered as unlmpu
s we'd lands.
), Sec. II. Be it further enacted, Th
E the branch OF the Mississippi Union Ban
s for the third district, is hereby located
: the town Of Ripley, in the county ofTippa
SEC. Is. Be ii further enacted, Th'
r the branch Of the Union Bank, for the hll
t district, shall be located in the town Off
nola, in the county Of Ponola.
) SEC. l6. Be IL further enacted, Til
: so much of the original charter Of the III
8 ion Bank Of the State of Mississippi,
: conflicts with the provisions Of this ac,
, and the same Is hereby repealed.
Sec. II. BE IL further enacted. That
much Of the fourteenth section OF the cna
ter Of the Mississippi Union Bank as pr
, vldes for the appointment oil a plovs'on'
directory, be and the same is hereby =
; pealed, and the ten managers elected
the provisions Of the second section oil %
} charter, shall compose the first or Prov
lonal directory, who shall be required
perform all the duties required OF the n'
I'll they are superseded by the election
, successors by the STOCKHOLDERS, and BY u
} Legislature as provided for |, in the cha
ter.
Sec. Is. Be IL further rnacted, That's
much Of the ninotoonth sootion OF the o.
glnal charter as entitled the State to on
tenth Of the whole profits Of the bank,
repealed, and so much Of the thirty NJ
section oil the original charter as enIltl'
the State to credit Of two hundred tho
sand dollars, be and the same is hereE
repealed.
SEC. 10. Be it further enacted, I'd
the advance required 10 be made on q
subscriptions for stock of said bank, AZ
quired in the eleventh section of the OF
ginr charter, may be paid in by the 81
scribers in the current bills Of tho banl
Of undoubted solvency of this State, al
that no more than two and halfpe con
on the stock shall be required TO be pa
at the time Of subscribing: Provided, Aoa
1.9nN q