The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1891-04-11
ARTICLES eF INCORPORATION
-OF uiE
Magnolia Banking Com
pany.

We. the undersignrd' a l. Insar af Mha.
uoln. Pike ceuutN Mississippi glHts +
Puts, Of Magnolia. Pile cenuty Mis-i.Eippi
aud Louis knapn oi Magnolia likr cmtlfv
Mississippi do hereby iefm anal aesMniss. tlt,.
ahaVe'natne0 cerpuratian, undsi ua pun.
staht ta The provisions at Srcton nilr
thousand aud twentNseight llnaSl General
Statutes Of the State of Misst-sipa Eli
eighteen hundred aud eighty. aiid the nVt.
auieHdatary thereof aud do li,r thai pnrpast
s'gh shh Adnfl the inlluwmR afufit- 81
Incorporation, viz.
AhrlCtEl. The name OF this corporation
shsi be tho
"Magnolia Banking Company. .
ART T.. The pnncipl place Il business
ni this corporaiion shalt be Ma noha tf6e
county, Mississippi.
ART, III lhe general nature nr ihe hH-i
tess ui this corporation shall bU ibaG at il
general tanktng business, iumtkc iptu- ard
discounts On approved security aud real
estate; to aet us agent 40 maklug maft gaze
lnats to negotiate all Niuds nt stc.tlitiea and
stocks aud bends ou eemmisslun, to hnv aud
sell exchange ta receive deposits, tu mako
collections. and TO trnnshet an kinds NJ
business pertaining To banking company
permitted under the laws OF the state of
Mississippi
ARr W. The time of comm snpenrn, If
this corporation shalt bc front the date nf
approval Of these A'ticles by the Governor
0t the state Of ~ ssIasirpi but the scfNnf
date of commencement Of business shull he on
or after the eighteenth dny of May, eighteen
hundred anf niuetY one. provided thtt
twenty i've t2jl per- cent of tho caniLh stock
oi thie corporation shall then hav,, brau paid
Y, aud shall llurcuitev be in continuation iut
thirty i've $50 years
ARl v. The capital stock uf III, csFnns
ration shall be fifty Thousand 80 0loI dol
lars, diyided intu live hundred ii0nj .hnta5
Of one hundred $1,000 dalars zach which
sh rrA shall DO paid ipras tiliuws. Twenty.
i've fSlly dollars per share 10 accompany
HibscupiiOp after that fifteen lsi1J dollar.
per share. aud ten $40 dollars por shane IL
such time Us shall b. eaisd for by the mau
agement 0t tlis corpbiHtun. nruvided that
when the sum OF iiity fS5nl ioiarb per shnir
shall have been paid in,the halinrn nf hitv
fs5Ol dollars per share shalt be- payable Wien
called for, VI durmed nrpcssary bV thO
management Vt this curpnrition lhittv ,ia, +
after date OF such calf bat ri no tam. shall
there 20 more than twrnt tive (s2II dotiufs
per share called iof at any pno time
Akf VI. Tho business Of this corporation
shall he performed by matagpr and iat the
tirrt year o. luugrt, by LNuia knHpu at 4
salary moi ~ exceed twelve hundred fSl20al
dollars ioi The FIRST scar. aud Thereafter X,
/ Tue hnane-s ~ this corporation may warrant
/ W. slss heiehS gimnt AID confer unto th,
said Lonis Knapp as manager 0l this c0tpa
/ f"tlNH - p"Mhih HhN iiEhis 10 Itff4AN Witf
hishurse all monies 10 Ut for and einn III
/ papers connected, aud N connection. witi
/ the business of this corporation 10 pnrehar,
"A site. contract for aud huild, i bul,ins IS II
\ safety vaults aud sales eufa ante Tor ihc busl
/ interests of the business and SAFETY a. ~,
monies and securities ut this corporation. 1,
| pntchase office records iur.ttuu. aat
I fixtures aud when necessary t. .npla,
| clerkh and help,
! ARr. WI. The act of snbscrinilon to Is,
stock Of this corporation shall hr 81
acknowledgement uf these Articles
! hhI VIZ The st0ckhotders tuAy tLnn 81
~ provided the new Constitution uf "a,
state Of Mississippi Article one hundred snf
ninety four Of eighteen hundred Hnd uinctS
elect new manager o. farm linnd q
/ Directors, bit Tor the best Interests a. tht
corporation q two third nmipfifY OF tho whpl,
number of shares shall be ncc,- -ssr, ts eiert
\ Ia witness hereof we have herauutu sei
| our hands aud seals thus q day Of February
! A. d. 1891