The Ocean Springs progress. (Ocean Springs, Miss.) 1905-1905, 1905-03-18
CHARTER OF INCORPORy4-
TIO.N or THE OCE.4.N
SPRINGS ST.ITE BANK.

Be it known that on this the goth day Of
Januar, A. D.. 1905, 0. L. Bailey. Geo. f..
Arndt, Fl. r. Russell, F. M. Weed, w T..
Ames, T. o. Whittle, G. l.. Friar Joseph
Kotzum. Mrs. Rosa Sigerson, Sidney An
erson, A. l.. Staples, N. Seymour & Son,
+. Schmidt ]. O'Keefe. J. D. Minor, +. w.
Hing, Furry & O'Neal, II. G. MCGOWAN
O., Switzer, +. +. Clement, Mrs Hanna
Johnson. Mrs. NJ. V. Russell, Mrs. A. L..
Beniiman, Chas. Il. Pabst, ORGY Young and
associates, by virtue OF the provision Of
Chapter Twenty five (25) of the Annotated
Code of Mississippi, and the acts amenda-
tory thereof, do hereby found and orga-
nize corporation for the objects and pur-
poses hereinafter enumerated, and to that
end and purposes they do by these pres
ents, with the approval OF the Governor Of
the State of Mississippi form and CON
sttute thense' yes and all such other per
sons as may hereafter become associated
with them whether by subscription pur
chase or otherwise, into body polite and
corporate in law under the following
articles OF the Charter of said corporation,
To wit:
ARTICLE IsT. The name and s.yle of
this corporation shall be the OCEAN
SPRINGS STATE BANK. and in that
name it shall exist for fifty years from the
date Of the approval of this Charter, and
may by purchase or otherwise acquire
sonal property as may be required for the
purposes for which this organization is
formed, not To exceed however the limit
fixed by the laws Of the State of Missis.
sippi, for corporations OF this character,
and shall in addition possess all the rights,
powers and privileges which corporation
under the general laws ofthe State OF Mis-
sissippi are authorized to exercise or
possess.
ARTICLE 2Np The domicle of this cor
poration shall be at Ocean Springs, Jack
son County Mississippi.
ARTICLE ,RD. The capital stock Of this
corpnratiou is hereby fixed at Fifteen
Thousand Dollars ISIS, 900 oo), divided into
Three Hundred shares of Fifty Dollars
$50 oo) each but may at any time be in
creased to Twenty five Thousand tS25.
900 .oo) Dollars, by vote OF the majority OF
the stockholders. As soon as this Charter
shall be approved the said o. l.. Bailey, A.
l.. Staples, II. +. Russell, r. NJ Weed, w.
7. Ames, J. 0. Whittle, G. l.. Friar, Joseph
derson, Geo. L. Arndt, N. Seymour & Son,
f. schmidt, ]. O'Keeie, I. d. Miner, 4. w
Hing, Furry & O'Neal, II. G. MCGOWAN,
O. Switzer, E K. Clement, Mrs. Hanna
Johnson, Mrs. NJ V. Russell, Mrs. A. l..
lieniman, Chas Il. Pabst, ORGY Young
and associates, shall at the doniicle Of the
open books of subscription to
the stock OF said bank, and when Ten
Thousand (SIo,ooo.oo) Dollars shall have
been subscribed "a meeting OF such sub
scribers and stockholders shall be called
OF which meeting the said subscribers to
stock or stockholders shall elect Seven
Directors of said bank. each of whom shall |
be the owner OF at least one share of the |
stock OF said bank, to serve as such until |
the first Monday iii January A D., 1906.
ARTICLE lTH. The objects and purposes !,
OF this corporation are hereby declared to |
be to receive and safely keep moneys lett |
on deposit and to pay the same to the /
deposition on demand, the buying OF |
domestic and foreign exchange for profit
and discount, bills, notes and other com
inercial paper, to lend money at lawful
rates OF interest and to do geneal bank
ing business,
ARTICLE 5TH. The corporate powers OF
this corporation shall be vested i'll d Board
of Seven Directors, each of whom shall |
be a stockholder III said Bank who shall
be elected by the stockholders within
thirty days alter the approval OF this char
ter, and on the first Alonday in January
A. d., 1906. and annually thereafter on the
first Monday i'll January OF each year.
Elections shall be by ballot and each
stockholder shall be entitled to one vote
fol each share OF stock held by him to be
cas-. by the owner or his written
pioxy. The Board of Directors
at their first meeting and
nually thereafter following every election
Of stoc holders shall organize by electing
a President, Vice President a Cashier
aud an Assistant Cashier provided that the
offices OF Cashier and Assistant Cashier
may be held by persons who are not Direc-
Tors OF said Bank.
The Directors and officers elected shall
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