Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-06-12

SIC. 40. BE II further enacted, That 10 case
any Of tie branches Of the Mississippi Union
Bank should be withdrawn, IN cowequenceaofI
failure to realize the required interest, then a
sum equal to the capital Of said branch shall
beloaned By the parent bank as provided for,
exclusively 70 the. citizens of those. counties
for which said bank were established.
SEC. Al! Be u further etacted That the
said Offices 81. discount nd deposite, naylend
money to the citizens Of any other county, not
enumerated Ia the district & S1Iicn said branch
%aF2s estaDnshed, when there are not SUFFICIENT
applications for the counties for which said
Offices are established. e -
Sec. ~. Be Il further e1uc1ed That the
-four last years Of the time allowed for The In
tinuance of this charter, shall be exclusively
employed IN winding up the affairs Of the cou-
stituton, and that no new loans or discounts
shall BE given OF allowed the said last four years
of the charter. - elas zapE fs sIss.f 81
Sec AZ Be e further asnacted, nat the
state shall be diVidedinto eight banking dis
trcts, in seven Of which said districts there shall
be established branch of said bank, with the
capital before provided forto each, for the puf-
pose Of afordmg banking facilities to the citi-
zens Of those counties that compose SAID dis
/
the additional business Of one district. nls
Sec A BE a. further enacted, II That after
| the sale of. the bonds for raising the capt.
| tai Of said Union Bank herein before proYi-
ded for, and after realizing the proceeds Of said
sales on said bonds il shall bethe duty of the
board of directors Of said bank to refund and
pay ever 10 the subscribers to the eapitalstoek
Of said bank, the amount paid by themin cash
on said stock, as required inthe eleventh Sec
ton ofthis act, with interest at the rate of five
/ per cent. per annurn; said refundmg to take
place, and be made as follows: one third ii
thirty days; one-third in5ixty days; and one
t third IN ninety days after the said time herein
above reeited and provided for. SOC e
/ Sec, 45. Be 1t further enacted, That the
board of directors OF said Union Bank are here
/ by authorized and empowered, to fix such sa-
larry or coP::sct:s:ss t.ej' ;iiy deem neces-
sary and proper for the commissioners appoint.
ed buthe thirteenth sectionof this act, and I'd
pay the same out Of the funds of said bank.
/ Sec. As. Be ii further enacted, That when
the said Union Bank shall have gone into oper.
alton, as provided for IN the 18th section of thic
act, the said bank shall not be required to loaf
on mortgages or stock. until the bonds speci.
fed in the fifth section of this act shall have
by said bank; but the said bank may loan, dea
in exchange, discount, and take such securihe
as they shall deem proper, and on such time a
the board of directors of said bank may pre-
scribe: PrOT,ded, hotceUeT, That the loans so 3
be made, shall be at the same rate of interes
/. as prescribed the thirty-eighth of thi
J act: And; Provided further, That said loans ma
be,made TO any citizen of the state. y sea;s
sI Sec. Az, Be 1t further enacted That the fft
section of this act wheieby the faith of thi
) state is pledged for the payment and redempto
+ of the loan contemplated BY this act, be refel
red to the next Legislature of this state, in pun
e sIance ofthe ninth section Of the seventh art
Gle of the constitution; and that this act be pull
q lished, under the direction of the Governor. ]
i at least three newspapers of this state, tC
d three months previous to the next regular eleC
e ton: and that this act, together with the yea
and nays thereon he entered on the journals
+ the senate and the mousse of representatives &
: JOHN l.. IRWIN.
a Speaker Of the House of Representative
II "A. g. McNUTT.
II President of the Sesat
, Approved. so far as the action of this legi:
Y iature is recognized-Ja january DIST 1887.
CHARLES LYNCH
E IAN ACT supplemental to an act to incerpC
rate the subscribers to the Mississippi Un!c
. ...-. - Bank. 49,.
Section /. Be 4 enacted bg the Legislature
: tie STATE Of Mississippi, That books for Il
7 transcription of the stock ofsaid bank shall
3 Iiopened in the county of De Soto, at the SCI
+ Justice thereof under the inspection of Riel
1 ard @. Hancock, Felix Lebeau and Miltc
Blocker for the county Of Lafayette, G..
Z Butler, ], II. Sneed and r. G. ToIbert; for tt
3 lcoumtY ofNewton, .Bird Saffold, James HUI
! son, James Ellis; for the county Of Tippa
Edmond ]. Baily, Fl. Bowers and John v
+ Thompson; for the county Of Tisheming
s Thomas Pale Keys and John Rivers. as man
gers, under the same rules and regulations
: are prescribed for the subscription of the stot
! Of said bank, in the other counties of this Sta
by the act to which this is a supplement.
!, @ .fVANNERS0N
Speaker Of the House of Representative
- .alfm nas s12.s A g. McNUTTs
3li h s@s Presidentof the Senate.
a Approves, May u. 1887.
8 -. CHARLES LYNCH,
y AN ACT supplementary to an act to ireorp
rate the subscribers to the Mississippi Uni,
= Bank. e 49,
81 SeeI. Bet enacted blythe Legislature
e he Skateof mississippi That as soon as /,
i books Of subscription for stock il said Missi
{ sippi Union. Bank are opened the Governor
e this State IS hereby authorized to subscril
:. for, In behafof this State, fifty thousand shar
ofthe stock Of the original capital Of the sa
q bank; the sameto be paid for out ofthe pr
= ceeds Of the State bonds, to be executed
the said bank as already provided for in q
said charter; and that the dividends and pr
3, fits which may accrue and be declared by Il
q bank on the said stock subscribed for IN beh;
u Of the State, shall be held by the said ban
y subject to the control of the State LegislatlI
q for the purposes Of internal improvement, a.
9, The prom7ton Of education. a..zs
OF SEc 2. Be z filraAef eaactea That thr
q commissioners be, and they are hereby appoi
Y ted within each county Ia this State. VIZ:
z tie county of Adams, VIM. B. Howell, Hen
ct is. Conn0Fs and James Bisland; IN the eoull
e Of Amita. David Lee, Solomon IYethefsb
e and David Pemble; IN The county Of Alta
q Nathan Sims Samuel Little and ISAIAH VIC
!, 4 inthe county Of Bolivar, Reddiek Saith, ]
. seph n. Henderson, and VIM. j. Cook; IN &
Y county Of ChoctaW, Harrison q Watts. "
~ efscy. and John EIeVill IL the county
e. Chielzasaq Henry 3g. Norton enjamip &
gora All David Griffin; Ia he county of Ca
q natoa. John aft Robert Magees 4
~ Ieses IctepaoFe; 1.-THE county Of CGahon
81 Georae y, Warren, David 3. Allen, and Nc
8 thew az - the county Of Carroll Gree
81 Noo ledore, James W Eslaile, and Jo
ID broWni % The county 81 Clarke, lshl
at VANS. Alexander 1oita and Edward Dea
int6e county oi De Soto. Gen. James "a
aV ANns ne lahen end Thomas ~. IS;