Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1888-05-19
Charter of"The Merchants and
Farmers Bank of Macon"

ARTICLE |. This Association. known n,
ihc Merchants and Farmers Bank of Mn.
Con,. whose domicle is Macon, Noxubec
JounIy, MISSISSIPPI, has for its object the
uolhg OF Il general Banking business.
ART SEC. 1, This Association snail
nt composed OF the following tersons, to.
vi m'tI a. W.Jones, of Columbus, Mississip-
Dl, X, ID. Duncan, OF Memphis. Tennessee
II, W',Footc, 5. v, ID. Hill, W. l.. Williams,
w. II. Boyle, N. Scales, Jacob Holberg, j.
Il: "rigSS, Il. c. Patty, 4. S. Murrhev
" m. Is. Augustus, j.. j. Callaway. .j,roh
liolberg, J. W. Patty, j. ii. JoncH,!.J A. Nv.
son, AN. Stoncr and Il. W. Jones Jr.. Of
Macon; Mississippi. and such other persons
~ snail associate with them for the pur.
pose herein named, and they are hereby in
coIporaieu under the name ana style of
me Merchants. and Farmers Bank of Ma
ooh "hu ny nat name have perpetual sue
%cesslon, may sue and be sued, may MEAD
ana be implicated in all the courts OF law
ana equity, and by that name NAV contract
any be contracted with, may acquire and
hoIu property, both personal and real. nnd
may nave 4 common seal, and the same ia
after at pleasure, and by that name nav j0
anu perform all the acts and possess All thn
powers and priyileges..of bodies polite and
corporate, ~
SEC. =. The capital stock of this Associ.
atlon shall De One hundred thousand dol.
lnrs, divided into shares of one hundred
uoiars cach, and whenever the sum of
twenty thousand dollars is subscribed and
pala MO the capital stock, the Bank may
business.
SEC. .. The said Banking Association
MA! ana Is hereby authorized, to invest the
I"lital OF said Bank i'll gold and silver coin.
nuIIinn hank nntnJ ill.,, ...,.t
tl1catcs of deposits, and all monies current
ana uncurrcnt, bonds of the United states
ana OF any state, comfy or municipal cor
ana III any public or private sec,l-
li'es OF value. may invest in mortgages
IruSt decuS, biIs Of exchange, notes, ne.
;oults ana other evidences OF debt. may
leal IN exchange, foreign and domestic.
nay discount notes, bills Of exchange and ,
othef evidences Of debt, may receive in
rust OF OF deposit gold, silver bullion, bank t
ioteS, current and uncurrcnt money and {
my othef valuable thing, andsmay loan the a
ilne, may borrow and loan money and OH. /
r valuable thing. and NAV loan tie same +,
lay borrow ana loan money and other Sc
urltleS, may buy and sell notes, drafts, ac. .
cunts United states and State Bonds, mu-
iSipa' ana county bonds, warrants and all
tner ~NAlnaD'eS, public and private, cur -
cllt, ana uncurrent securities, may buy. )
ell, loan or rent real estate at its pleasure.
DO Il bank, collection, discount and ey. +,
mango business as is customary with banks. "
I'd shall have power to take decds'of trust
'ortgageS, bills of sale, pledges and depos- :
) anu otlcr conNeyanccs of real and pcrso-
Al and mixed property. {
SEC. !. The business of said Bank shall \
, MANAGED ana controlled by nine 81 di-
'ctorS choSed annually by the stockholders B
III ma such rules, bylaws and rcgula- VI
DhS rs SAM Association may see fit to IL III
,pt; provide the same be not i'm conflict il
I'm me constitution Of the United States, lie:
ID Of this State. ii,
SEC, 3, The share or stockholders in DO
1T Association Shall not be liable for the ",
DTS OF SAID Association, beyond the IL io'
'uht that may remain unpaid upon the ~,
'ck held by them. th'
6. The stock Of said Association MI
De assIgnablc only upon the books of |
? Association. and 4 transfer book shall l
KEPT III Whlch all assignments and trans :
s OF stock shall be made, and in all eases :
'idcnds. when declared. shall be paid TO Mr.
stockholucr in whose name the stock Q
nds at the time OF the declaration thereof, /
80 trlnier of stock of the Association c
be made by any stakeholder who shall
liable o the Association for any sun of
.ebtedncss either as principal or other
e,
I. That The bylaws. rules and rce-
Of this Association. which said As
latlon may make under this Charter.
II be made and adopted by Il majority 4
@ Of the stockholders according TO the
res held by them.