The Starkville news. (Starkville, Miss.) 1902-1960, 1905-11-10


AT
STURGIS, MISSISSIPPI.
SECTION l. Be 1t known that, II. 0. Nc
Main. Citronell, Ala. g. e. Galceran,
r. 8. Jackson, A. F.Richardson,' : G. q.
Morgan, Sturgis, Miss, and their assoc
istes, assigns and successors are hereby
incorporated and made body polite
under the name and style of THE
MERCHANTS AND PLANT.
ERS BANK and by that name may
sue and be sued, plead and be impead-
ed In all the courts of law and equity
In this state, and may have a common
seal and alter same at pleasure. The
domlciIe of this corporation shall be In
the town o. sturgIs, Oktibbeha county,
state OF Mississippi, and it shall have
succession for q period of fifty (so)
years from the date OF the anthorta-
tive approval Of this character.
SECTION 2. The Capital Stock of this
Corporation shall be the sum of Twenty
FIVE Thousand Dollars ($25, ,00O) to be
divided into shares OF value of Fifty
Dollars $4,000 each; said corporation Is
under this charter authorized to begin
business whenever the sum of Fifteen
Thousand Dollars U5,O0O) have been
subscribed. and the sum of Seven Thou
sand Five Hundred Dollars ($7,500
shall have been paid in cash and this
charter duly and authoratatively ap-
proved. No share holder shall be held
liable for any amount over and above
the gross amount of the face value of
the shares of stock by him held, for the
debts, and liza bflrties of this corporation,
and this corporation shall have Ifen
on the siock of the shareholder for any
debt due the corporation including any
balance left unpaid of the amount of
stock subscribed by him made. The
shares of the Capital Strck of this cor
poration slfall be transferable only up
on the books of the corporation.
SECTION 8. The objects and purpos-
es of this corporation are, and is hereby
and hereunder empowered to transact
the business of receiving deposits of
monies, discounting notes aud securi-
ties and doing and performing all man
ner cf acts pertaining to the general
banking business consistent with the
laws of the State Of Mississippi, on
by the annotated code of
Eighteen Hundred and Ninety Two
(1s92) and the acts amendatory there
to.
SECTION 4. The officers of the cor
poration shall be president, vice-pre-
ident, cashier and board of directors.
The board of directors shall consist of
not less than seven (D persons and
shall be elected by the share holder at
the regular annual stockholders meet
ings which shall be held on the 18th day
of January each consecutive year, ex-
cept when such day shall be a legal
In which event said meeting
shall be held OH the next succeeding
day. All vacancies in the board of di-
rectors caused by death shall be filled
for the remainder of it's unexpired term
by two-third's majority vote of the
Directors, each director shall
exercise the functions of his position
until his successor has been duly elect
ed and qualified. The President, Vice
president shall be elected by and from
the Board of Directors. The Cashier
she'll be elected by the Board OF Direc-
tors which shalf determine their res
pective compensation, duties and term
Of Office. ~
SECTION S. Said corporation shall
have the power to adopt all reasonable
and necessary bylaws, rules and regu-
lations for the management and con-
duct of the business of said corporation
not inconsistent with the laws OF the
State of Mississippi and oil the laws OF
the United States of America.
rho Noeh,onal building is now