Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-08-31

az act 10 aid the Commercial Railroad and
Banking Company Of Vicksburg 10 prosecute
more eGectualIy their cork Of Internal In
prorement and for other purposes.
WHEREAS, the encouragement of internal i'm
w provement is deemed by the legislature,
subject of the highest Importance and deepest in
terest to the people of Mississippi and whereas,
the president, directors, and company, of the com
merciaI railroad bank of Vlcksburg, have manifest
ed the most ardent zeal and unrng industry In the
prosecution of the VIcksburg and Jackson railroad,
al time when all the resources oIlhe country SEEM
ed necessary to protect the credit and character of
banking department; and whereas, the egisla ture
are sensible of the vast Importance of speedily COM
pletn9 the said road without impairng the useful
ness OF the bank
Section l. Be 1t enacted by The Legislature CT the
State of Mississippi, That in order to facilitate the
said improvement, without depriving the people of
| the benefits of the bank, that two hundred bonds,
of Ave thousand dollars each, payable twenty years
after date, TO the order Of the president directors,
and company Of the Commercial and railroad bank
OF Nicksburg bearing interest at the rate Of six
per cent per annum, shall be signed by the governor
Of the stste, countersgned by the state treasurer
and under seal of the state ; and the faith Of the
state be, and the same is hereby, pledged for the
punctuai payment OF the principal and interest OF
said bonds said bond 10 be in the following words,
| 10 wit:
Know all men by these presents, that The state OF
Mississippi acknowledges herself to be indebted to
the president, directors, and company, OF the Com
mercia and rail road bank Of Vicksburs in the sum
of five thousand dollars, current money Of the Uni
ted States, which the said state Of Mississippi
promises to pay to the order Of the president, drec
tors, and company, Of the Commercial and railroad
bank of VcksbuJg, twen'S years after date hereof.
With intorss, a the rate Of SIX per cent per annum
Iv,K IA, la,
nually al the place mentioned in the endorsement
hereto. In witness whereof, the governor of the
state of Mississippi has signed and the treasurer Of
the state has cOunterslgned, these presents and
caused the seal Of the state 10 be affixed thereto, at
Jackson, this day Of in the
' year Of our Lord
, Governor.
, Treasurer.
Sec. .. AMI be it further enacted, That the said
bonds may he transferable by the endorsement of the
president and cashier Of SAID bank, 10 the order Of
any person or persons whomsoever, or to the bear.
er ; and the SAID endorsement shah fix the place
e where the said principal and interest shall be paid
q and all the expenses incurred therein shall be de.
rayed by the said bank
> Sec. 8. And be it further enacted, That botl
, the principal and interest Of said bonds shall be paid
by said bank at the time they shall seyeraly ial
due.
The payment Of the principal and interest Of the saiC
bonds, [whenl either or both shall fall due BY the
said bank, the execution and delivery of said bonds
i TO the said president, directors, and company Of The
, Commercial and rail road bank of Vicksburr, shall
have the force and effect Of mortgage upon thu
y said Vcksburg and Jackson railroad 10 the state o
}. Mississippi, which may be orecosed by the state
. upon any failure Of the said president, directors
and company, to pay either the interest or the prn
cipal Of said bonds, according 10 the tenor and ef
|. feet and the endorsement thereon
Sec. 5. And be il further enacted, That the sec
ton of tins act whereby the faith of this state II
pledged tor the payment and redemption of the oar
contemplated by this act be referred to the next leo
slature Of this state, IN pursuance Of the ninth sec
: ton OF the seventh article Of the constitution, ant
Il that this article be published under the direction
the governor IN at least three newspapers, publish
y ed in this state for three months previous TO III,
It next general election and that thus act topethe
, with the yeas and nays thereon, be entered on III,
journals OF he senate and house OF representa- yes
: Sec. 8. And be It further enacted, That the ex
,. pense of newspaper advertisement, mentioned il
this act, shall be paid by the said rail road company
Sec. I. And be il further enacted, That III
c powers, rights, and privileges, conferred by this act
j. and the act Incorporating the Commercial and ra
road bank Of Vicksburg, and the several acts supple
meniary OF amendaory thereto shall be in full fore
and continue until the year one thousand eight hun
a bred aud eighty; after which time the said rail roa
shah become and be the property of the state.
o JOHN w. KING,
e Speaker Of the House Of Representatives.
!, A. L. BINGAMAN,
: President Of the Senate.
Approved, February Is, 1889.
: A. G. McNUTT.
: to The Eastern Clarion Natchez Free Ira