Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1888-05-26
Charter of The Merchants and
Farmers Bank of Macon"

ARTICLE /. This Association, known n
~ Merchants and Farmers Bank Of Ma
coh' whose dOmirle is Macon. NoNubcr
County, Mississippi, has for It's object The
"oihS OF a general Banking business.
AtT.2 SIC. ]. This Association lalI
w composed of the following ICrsons, to-
Mn 4. W.Jones, of Columbus, Missis,ip-
PIt, y. u. Duncan, OF Memphis, Tennessee.
IL, W,,foote, 5. v. u. Hill, WI. Williams,
WI Boyle, n. Scales, Jacob Holbcrg. J..
u; "flggS. Il. G. Patty. 4. $. Murpbcy,
mn' Il. Augustus, j. J. Galloway. Jacob
iiot2erg J. w. Patty, J. II. JONES' i. A. w.
,1n' A. NJ. Stoner and r. W. Jones Jr.. Of
h'c9h; Mississippi. and such other persons
; sHaH associate with them for the pur.
pose herein named, and they are hereby in
eo,pofHtcl under the name ana STYLE of
" ie Merchants and Farmers Bank of Ma
con amt by that nanc have perpetnal sue
eeSSloll, may sue and be sued. may plead
ahI be lmpleadcd in all the courts OF law
a'ld equity, and by that name may contract
ana De contracted with, may acquire and
hoiu property, both personal and real, and
H,a! nave a comrnon seal, and the same to
allGr at pleasure, and by that name may do
anu perform all the acts and possess all the
powers and p~riVileges.of bodies polite and
corporate,
SEC =. The capital stock of this Associ-
atiol snail De One hundred thousand dol
'nrs, divided into shares of one hundred
uoi.ats each, and whenever the sum of
twenty thousand dollars is subscribed and
paid into the capital stock, the Bank may
commence business.
SEC. 3. The said Banking Association
may and is hereby authorized, to invest the
caPitaI OF said Bank in gold and silver coin,
D%ulll0n, bank notes, silver certificates, Ger.
%tifleates Of deposits, and all monies current
ana uncurrent, bonds of the United states
anu OF any State, comfy or municipal cor
poratlof, and in any public or private secu-
rtues OF value. may invest in mortgages,
tf0st deeds, bills of exchange. notes. ac-
counts and other evidences OF debt, may
zeal IN exchange, foreign and domestic.
may discount notes, bills of exchange and
other evidences of debt, may receive in
trust or on deposit gold, silyerbullion. bank
notes, current and uncurrent money and
any other valuable thing, andsmay loan the
'lme, may borrow and loan money and 9TH
II valuable thing, and may loan the same,
may oorlo DIV and loan money and other Sc
turtles. may buy and sell notes, drafts, ac-
cunts, United States and State Bonds, nut
and county bonds, warrants and all
lther ~Naluab!es, public and private, cur
'ent. ami tlllcurrcnt securities, may buy,
loan or rent real estate Mt its pleasure.
nay do Il bank, collection, discount and eX-
business as is customary with banks,
md shall have power to take deGds'of trust.
mortgages. bills of sale, pledges and dcpos-
Is ana other c0nveyances Of real and perso-
lal and mixed property. (
SEC. 4. The business of said Bank shall
re managed and controlled by nine 81 d.
ertorS chosed annually by the stockholders
nj under such rules, bylaws and rcgula-
ions as said Association may see fit to a.
opt; provide the same be not in conflict
With the constitution of the United States,
of this State.
SEC. j. The share or Stockholders in
aid Association shall not be liable for the
ebts of said Association, beyond the a.
count that may remain unpaid upon the
lock held by them.
SEC. g.. The stock of said Association
hall be assignablc only upOn the books of
ne Association, and Il transfer book shall
e Kept in which all assignments and trans
rs OF stock shall be made, and in all eases
when declared, shall be paid to
le stakeholder in whose name the stock
ands at the time of the declaration thereof.
No trdnter of stock of the Association
lall be made by any stakeholder who shall
e liable o the Association for any sum of
Idcbtedness either as principal or other
Use.
SEC. I. That the bylaws, rules and reg
Of This Association. which said As
may make under this Charter.
.all be made and adopted by Il majority
'te of the stockholders according 10 the
Iares held by them.