Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1838-07-14
LIBERTY, May 90, 1888.
OFFICE MISSISSIPPI UNION BANK
Jackson, May IL, 1888.

DEAR SIR: Enclosed transmit the d.
rections of the Bank attorney, which you
will please scrupulousy observe in ma
king your examination in the chain of
titles to property proposed to be mort
gagged to the Bank When persons have
not their chain of titles perfect, it will
be imperative that they shall render
them so before they are sent for the in
spection of the, Directory Of the princi-
pal Bank, for final decision. The sue
cess Of the institution, the prosperity of
the people of Mississippi generally, and
especially Of those who may be the i'm
mediate stockholders, require that our
action shall be marked with due precau
ton.
1t is the sense Of the Directory, that
persons shall not be required 10 pay
over the (2a) two and a half per cent.
on their stock until the Books Of sub
scription, title papers, &c, are sent here,
and finally passed on, and the stock
graduated according to the charter, when
the papers will be returned accompa-
MED with mortgage, to be executed
by the subscribers, and money paid in;
when, and not until then, will the stock
be declared on, and certificates issued.
My reason for being thus particular is,
that numerous inquiries are made in re-
latioh to this matter. If you have pro-
crossed and find that you have been gov
erned by differen! rule of action, be
pleased 10 change, SO as TO conform
strictly to the present Instructions. 1t
will be an easy matter for you to cor
rect any error into which you may have
fallen; and be assured that in a bust
ness Of such immense magnitude, it is Of
essential importance that uniformity and
: system shall govern us.
have the honor to be, very respect
fully, your obedient servant,
III. G. RUNNELS, President.
RULES prescribed By the Bank attorney
i for the regulation Of land titles TO be
morigagedtO Tie Mississippi Union Bank.
LIST. Fifty years possession in the ten
ant or his ancestor.
Cd. Patent from theUnited States.
Sd. Spanish and English grants le-
gally and fully executed.
4h. Order of survey from the Span
ish Government confirmed by the COM
missioners acting by the authority of
the United States.
5lh. Deed from Indians confirmed by
the President.
9Th. indian reserves confirmed by the
President.
7h. Receivers receipt for money paid
to the Government for public lands, ac-
companied with an affidavit that the du-
plicate has not been transferred.
9Th. When the certificates of the re-
ceiyer ofthe payment of money is trans
fered, the transferee must furnish evil
dence that the transfer is according to
the rules of the law.
Oh Where a purchaser, under the
Government, has transferred his title by
deed or otherwise, and has failed TO
transfer his certificate, or in case the
same cannot now be transferred in con-
sequence of the death of the original
purchaser, or loss Of the certificate, then
a certificate Of purchase from the receiv-
er will be received as evidence.
10Th. In connecting the chain OF titles
when no REIMBURSEMENT of dover APP
pear of record, the fact must be estab-
lished by affidavit that The grantor was
unmarried, or had no wife at the time
Of such conveyance, that could legally
claim dover in the estate so conveyed.
llth. The title papers must be accom-
panied by the certificate Of the clerk Of
the court of record Of the county, that
there is no mortgage, deed Of trust, or
other conveyance operating as lien on
tho estate, either real or personal, pro-
posed to be mortgaged TO the bank; or
if any such exist state their amount and
nature.
18th. Each subscriber must likewise ac-
company his title papers with an afida-
Wit, that there are no judgments against
MIN in any Of the courts Of the State OF
Mississippi, OF in the Circuit Court of
the United States for tho District of Mis-
sissippi, operating as a lien on the es
tate proposed 10 be mortgaged TO the
bank, or il there should exist any iudg-
ment or judgments, state their charac-
ter and amount
May &c, 1888. FL