Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-02-17

.,Gsts. as subscribers
Mississippi Union Bank
,,. ~.se, to your Honora-
'..r willingness to su !!,
1er ,beir corporate Privile-
;'i' ,ct 10 incorporate the
% he he Mississippi Union
% I 20 far as the action Of
geo !. recognized January
1, pJ again approved Feb
,i lI's and the supplemental
l'o. .,oyed, Feb. 9Th 1889.
P.PolriaIists in reference to
o'nOrl Their liability with tire
on ', .sment Of five millions
DC .p,; n, for stock and sold
aD'';; interest under said act
y, will not, by any act Of
, aoJ 10 decide, but simply OF
GU. =, =, they exist before your
Dg ,Sc executing by the sub
y ,,o ri ,heir bonds and mort
y ' S,nk went into operation,
Dl the management Of
Managers on the part Of.
% \ discounted extensively
a i,encc to subscribers for
I' y he opinion of your me-
l;".6i1ble, as the capital up
.E..e discounts were predica-
punch. .,,,g into the bank by the
4. .Y .,,ie bonds, sold in Pursu-
N 4. States subscription Tor
1 ,J thal still prior to the lssu-
~, nle bonds and mortgages
. .n,,. 5r 10 the Mississippi
1 SoI lhe Managers Ofsaid Bank
y, IN virtue Of their appoint
~. me Legislature, PIT into CIR
ander the authority Of a res
o,,sed by both houses OF the
.I,e. Though vetoed by the
.. ~ between; three and four mil
D,., Notes, bearing an interest Of
rot. which said post notes were
10 the people of the state with :.
consent ofyour memoriallsts'
.cribers 10 stock iq said bank nor
I,bev have been consulted there
',m the fact that up to that time
,s,e not declared stockholders.
most notes like the common
1.-The banks, were made to the
|, ortbe state without regard to
nsmorialists as subscribers, 10
!, said bank, which appears up
/. minutes of the Board of Mana
an tbe part Of the State. Not
..,,Jiur your memorialists did not
!, Exclusive privileges as borrow
4 contemplated by the charter,
,,rorbeless, they are inclined to
o,rion that inasmuch as the char
f5tIy carried into operation, Sc
Mo- item privileges which would
have been conferred upon the citi-
generally, that so far as they have
geJ A direct loan through the Bank
thc conditions upon which they
h claim at your hands a RELEASE
the property mortgaged, shoulC
jupIed with the provision thatthe!
~ secure to be paid TO the banl
: State, the amount Of their loan
rived, Your memorialists inten
90 their part to comply with tn
emenis Of the charter, did sub
for stock, they did execute I,
lnk and the states, their stocI
and mortgages, they did whe
red to do so by the managers o
,lrt Of the state, attending at tn
Ing house in Jackson, and di
ndthere proceed to elect a Boar
rctors for the management OF III
S Of the bank. They iastructe
E same time the Board so cleo
! them, not to dispose of, or Sc
ypothecate the FIVE millions
5, signed by tho Governorand d
ed to the bank, the remaining hv
a half millions contemplated ;
harter, being withheld or refuse
signed and delivered by the Go
Of the State, for reasons unkov
,ur memorialisits, In view Of Il
and the premises set forth by yol
iorialists, and in view of the il
Sc interest and responsibility res
either upon the State or with yo
nOrialists jointly, they respectful
he immediate action of the Leg
'n upon the subject. In concl
l,JOur memorialists are inclined
opinion that the copartnership co
plated by the act Incorporating {
slsslppi Unisn Bank does not ex
J attheir discretion, from the f.
so far as they are concerned, III
e done and performed all that "
lIFed OF them to do by thes maj
on the part Of the state; that
tracts if violated, which they yer
eve has been, was beyond III
lroI, and therefore, they respect
SIX your honorable body to gr
: petition by the passage OF an
living them from all liability v
state, in pursuance Of this Il
'tr, upon the condition that y,
norialists surrender or cause to
4 L