Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1915-02-18

examiners, whose QutleS as ex
aminer shall neceSSitate ms pres.
ence in that part of the state, sc
that he may be able to attend a,
the time and place of foreclosure
sale with II minimum of travelling
expenses, and there shall be nc
charge for trustees fees in con.
nection with the foreclosure sale.
Section 10. The said deeds OF
trust shall likewise contain such
provisions as to make it unnec,
rssary to give notice of intended
foreclosure by newspaper pub
LEGATION, but that such notice
may be made by hand bills, and
that IA copy thereof shall bs
mailed to the maker of the note,
or his personal representative
in case of his death, or to the
successor in title, provided the
said successor shall have given
written notice to the bank of
his ownership of the mortgaged
lands and his poStOffice address.
Such notice shall be addressed
to the debtor according to the
address named in the deed of
trust, or such address as he may
have given to the bank in writing
in case of change of postofice ad.
dress, and to the successor to
the address furnished by him to
the bank.
Section H.. In case of fore.
closure the bank shall have au.
thority to buy lands at the fore.
closure sale if necessary to pro.
tect it from loss, but the mana
ger shall make every reasonable
effort to secure the payment of
the money due the bank without
buying the land.
Section II. The bank shall
have 10 capital stock divided in
to shares, but it's working eapi-
tai shall be provided as follows,
that is to say: The general as.
spmbly shall appropriate out of
the moneys in the state treasury
One Million Isl, 600, 000.0 0) Dol
lars. When the bank shall have
loaned Five Hundred Thousand
$500, O00. 00) Dollars thereof, and
shall have on hand notes to that
amount secured by deeds of
trust, as herein provided, it shall
have power to sell and issue it's
debenture bonds for like
amounts. The said bonds shall
recite on their face that they are
secured by notes for the amounts
thereof, which are secured by
deeds of trust on farm lands in
the state of Missouri appraised
at double the face value of the
said bonds, and further secured
by the funds of the said bank as
provided under the terms of
this act.
Section IL. After the first is
sue of Five Hundred Thousand
$500. 600. 00 Dollars of bonds
above mentioned. the bank may
sell and issue a like series of its
debanture bonds under the limi.
tations herein prescribed at any
time and as often as in the iudg.
ment of the manager there shall
be on hand notes and deeds of
trust of an amount sufficiently
large to make a series. Each is.
sue shall constitute a series and
shall be designated by a serial
letter or number, or by both a
serial letter and number, begin.
ming with the first issue, and
each bond shall also have an in.
dividuaI number.
Section IA. Bonds may be is
sued on notes and deeds of trust
to aggregate amount of Forty
Millions $40, 600, 10000 Dollars
based On the One Million Isl ,000,.
uOO.0 Dollars of working CAPT.
tai. Further issues may be
made indefinitely at a ratio of
$50 % of bonds to Sl.OO of the
reserve as against the accumu.
latiOn of the net annual reserve
as hereinafter provided.
Section ID. The property of
the said bank including capital,
notes and mortgages and also de,
benture bonds issued by it as
provided for in this act shall all
be exempt from state, county
and municipal taxes of any and