Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1888-05-05
Charter Of The Merchants a nd
Farmers Bank of Macon"

ARTICLE l.. This Association. known as
:. The Merchants and Farmers Bank of Ma
con-" whose domicle is Macon. NoNubee
County, Mississippi. has for its object the
doing Of a general Banking business.
ART. .. SEC. !. This Association Iall
be composed of the following Iersons, to-
wit: II. W. Jones, of Columbus, Mississip-
pi, K. d. Duncan. OF Memphis, Tennessee,
II, W.,foOte, $. V. ID. Hill, W. l.. Williams,
W. II. Boyle. N. Scales, Jacob Holberg. j.
l.. Griggs. K. G.. Patty, I. S. Murphey,
VIM. Is. Augustus, J.J. Galloway, Jacob
holoerg. J. w. Patty, J. II Joncs,..J. A. ~
son, A. NJ. Stoner and Il. W. Jones Jr.. of
Macon. Mississippi. and such other persons
As shall associate with them for the pur-
pose herein named, and they are hereby il-
cOrpOratel under the name and style Of
"The Merchants and Fairness Bank of MAJ
con- and by that name have erprtnal SUE
ccSsion, may sue and be sued, may plead
and he impleaded in all the courts OF law
and equity, and ny that name may contract
and he contracted with, may acquire and
hold property, both personal aud real, and
may have u common seal. and the same to
alter at pleasure, and by that name may do
and perform all the acts and possess all the
powers and priyileges..Of bodies polite and
corporate,
SEC. 2. The capital stock of this Associ-
alton shall be One hundred thousand dol
lars, divided into shares of one hundred
dollars each, and whenever the sum of
twenty thousand dollars is subscribed and
paid into the capital stock, the Bank may
commence business.
SEC. g.. The said Banking Association
! may and is hereby authorized. to invest the
capital of said Bank in geld and silver coint
bullion, bank notes, silver certificates, GER
~tificates of deposits, and all monies current
and uncurreni, bonds of the United >tatcs
and of any State, comfy or municipal cor
poratiOn. and in any public or private secu-
rites of value, may invest in mortgages,
trust deeds, hills Of exchange. notes, ac-
counts and other evidences OF debt, may
deal IN exchange, foreign and domestic,
may discount notes, bills Of exchange and
all other evidences of debt, may receive il,
trust or on deposit gold. silver bullion, bank
notes, current and uncurrcnt money and
any other valuable thing, AMI. may loan the
sime, may borrow and loan money and 9TH
Gr valuable thing. and may loan the same,
may borrow and loan money and other Sc
c~tiritics. may buy and sell notes, drafts, ac-
counts, tnitcd STATES and State Bonds, m1.
nicipal and county bonds, warrants aud all
ether valuah.cs, public and private, cur
itte. dHb ulCtlEtHt SECURITIES, may buN.
,.koll. Joan or rent real estate at its pleasure,
may do u bank, collection, discount and en-
change business as Is customary with banks,
nnd shall have power to take deeds,,of trust,
mortgages. bills of sale, pledges and depos-
us anu other cOnveyances of real and perso-
nal and mixed property.
,.SEc. 4. The business of said Bank shall
he lifahaged and controlled by nine { 81 d.
rertOrs chosed %aunt,aIly by the stockholders
ana under such rules, bylaws and regula-
f'ons as said Association may see fit to IL
dept; provide the sainc be not In conflict
with the constitution of the United States,
and Of this State.
said Association shall not he liable for the
debts of said Association, beyond the a
mount that may remain unpaid upon the
stock held by'them.
SIC. 0. The stock of said Association
shall be assignablc only upon the books of
the. Association, and n transfer book shall
be kept In which all assignments aud trans
fers OF stock shall be made, and IN all eases
dividends. when declared. shall be paid to
the stakeholder in whose name the stock
stands I'd the time OF the declaration thereof.
/. No tranter of stock of the Association
sIHll be made by any stakeholder who shall
le liable o the Association for any sum OF
indebtedness either as prir ,iYsl or other
Wise.
! SEC. {. That the bylaws. rules and reg
nlStiOns of this Association. which said As
sOclatloI may make under this Charter.
shall he. made and adopted by Il majority
vote Of the stockholders according to the
Shares held By them.
Fl Aft