sation of guards. and that the guards, who may be summoned and employed Compenin the removal of such prisoners, shall be entitled to a compensation of two dollars and fifty cents per day, to be paid out of the state treasury; and the auditor of public accounts is hereby required to issue his warrant to the state treasurer, when such account shall be sworn to by the sheriff Accounts to or sheriffs who shall have employed such persons as guards, to. Approved, February 15, 1838. be sworn AN ACT to reduce the Capital Stock of the Commercial Bank of SECTION 1. Be it enacted by the Legislature of the state of Mississippi, That the capital stock of the Commercial Reduction of capital Bank of Manchester be, and the same is hereby reduced to stock. one million of dollars, or ten thousand shares, of one hundred dollars each. the direc tors. SEC. 2. Be it further enacted, That it shall, and may be lawful for the directors of said bank to apportion the pay- Power of ments now due on all stock upon which partial payments have been made, so as to enable the holders thereof to receive certificates in full, by the relinquishment of such portion of unpaid stock, as will leave the capital stock of said bank at a sum not exceeding one million of dollars, as aforesaid: Provided, that all payments for stock be made in the manner prescribed by the act to which this is an amendment. SEC. 3. Be it further enacted, That if after the consolidation and relinquishment as aforesaid, there should remain Ibid. any fractional amount of stock under one million of dollars, not appropriated, the directors may dispose of the same according to the provisions of section eleven of the act to establish the Commercial Bank of Manchester. SEC. 4. Be it further enacted, That in order to enable said bank to carry out the provisions of the foregoing sec- Repeal. tion to reduce its capital, so much of section sixteen of the act establishing said bank, as relates to the establishment of a branch, be, and the same is hereby repealed. of time. SEC. 5. Be it further enacted, That the period prescribed Extension for making loans at twelve months, in section ten of the act to which this is an amendment, be, and the same is hereby extended to the months of November, December and January. SEC. 6. And be it further enacted, That this act shall take Take effect. effect and be in force, from and after the same shall have been approved by the board of directors of said bank. Approved, February 15, 1838. incorpo rated. AN ACT to incorporate the Natchez Steam Packet Company. SECTION 1. Be it enacted by the Legislature of the state Company of Mississippi, That the following named persons, to wit: C. P. Fourniquet, Peter Gemmell, Levin Covington, S. Lillard, Robert Patterson, S. Duncan, B. Wade, W. Cannon, Jacob Soria & Co. C. Marsh, James C. Wilkins, Patterson & Wis wall, L. R. Marshall, Joseph Neibert, R. Bledsoe, J. A. Lyle, A. Brown, C. A. Lacoste, H. Chotard, John B. Nevitt, J. T. McMurran, Sprague & Howell, Beckett & O'Farrell, Jas. Metcalf, Samuel Gustino, H. C. Farnum, Jesse Guice, William H. Pearce & Co. Samuel Cotton, J. R. Wills, Stanton & Besancon, A. Fisk, W. Ferriday, E. Bell, Wood, Pentecost, & Co. Jemison & Maxwell, E. Harris, W. Vancampen, W. H. Fox, Mark Breeden, D. G. Barlow, Ann Brabston, W. J. Ferguson, Jas. M. Brabston, Profilet & Julienne, Jas. R. Kane, F. Stanton, W. W. Storer, Edward Turner, J. A. Quitman, J. P. Walworth, president of the Mississippi shipping company, J. & R. W. James, F. Routh, W. J. Minor, R. North, A. L. Bingaman, A. P. Merrill, Murchison & Doyal, R. N. Wood, G. Calhoun, Owen & Fortune, Montgomery & Mitchell, Joseph Smith & Co. R. Parker, F. Wood, and Walter Irvine, original subscribers to the stock of this company, under the date of the 12th November, 1836, be, and they are hereby constituted a body corporate, under the name and style of the Natchez steam packet company, with a capital of one hundred and ten thousand dollars, in shares of one hundred dollars each; and as such, said company shall sue and be sued, plead and be impleaded, defend and be defended, and possess in this respect, all the powers and privileges of a body corporate. pany. SEC. 2. Be it further enacted, That the powers of said company shall extend to the owning, purchasing, building, Powers of furnishing, and navigating steam and other vessels, to be the comemployed in the navigation of the ocean, or of the rivers and lakes of the United States, and to the owning and purchasing of slaves, goods, chattels, wares, and merchandise, produce and effects of every kind, value, and quality, and to grant, sell, alienate, barter, exchange, and dispose of the same; to purchase and deal in foreign and domestic bills of exchange, at the usual and customary rates; to issue and to take bills of exchange, and promissory notes, and to loan and advance money, and to charge and receive legal interest for the same; they shall also have power to hold, possess, and enjoy real estate, land, rents, tenements, and hereditaments, such as may be necessary to the prosecution of the business of said company such property shall only be subject to taxation in the same ratio as individual property. : SEC. 3. Be it further enacted, That said company shall have power to increase their capital stock at any time, to the extent of five hundred thousand dollars: Provided, said increase shall be made by subscription, books for which said subscription shall be opened under the superintendence of the directors of said company, notice of which shall be given in one or more newspapers published in the city of Natchez, thirty days previous: And provided further, that no person, or firm shall be permitted to subscribe directly or indirectly, for more than fifty shares of said stock, in any one day, but the books may be kept open, from day to day, until the whole amount of said increase be subscribed. SEC. 4. Be it further enacted, That each and every stockholder, as well the original subscribers as those who may hereafter become so, shall be separately and personally liable for the amount of the capital stock subscribed by him, her, or them, but not further; and all land, rents, tenements, and hereditaments, vessels, and every description of Directors. Their duties. boats, slaves, goods, and chattels, wares, and merchandise, produce and other effects of every kind, all foreign and domestic exchange, promissory notes, money, and effects belonging to said company, in their corporate capacity, shall be held liable to pay the debts, contracts, and legal and equitable liabilities of the company, to an extent as equal as if the same belonged to a natural person: And be it further provided, that any subscriber who shall refuse or fail to pay the amount subscribed by him or her, when the same shall be called for, shall forfeit his or her stock, and the same shall be sold at public auction, on ten days notice being given, to the highest bidder, for cash; and for whatever amount said sale produces less than the amount subscribed by the defaulting party, for such residue he, she, or they, so defaulting, shall be responsible and may be sued before any court of competent jurisdiction, for the recovery of the same. SEC. 5. Be it further enacted, First-That the business of said company shall be transacted by a board of directors, not exceeding seven in nnmber, to be elected annually, by the stockholders, from among themselves: of this number, five shall constitute a quorum for business: they shall elect from their own body a president, whose duty it shall be to preside at the meeting of the board, and superintend the conduct of the secretary and treasurer. Second. They shall also appoint a secretary and treasurer, which said officers shall be allowed such compensation as may be fixed by the board of directors. Third. It shall be the duty of the secretary to keep a faithful record of the proceedings of the company, and the treasurer shall take care of the funds of the company, and render an account of the same when ever called upon by the board of directors: he shall give bond and security for the faithful performance of his duty, in such sums as the directors may require it is also further provided, that the offices of secretary and treasurer may be held by one and the same person. Fourth. The annual meeting for the election of directors of said company, shall take place on the and at such meeting, two-thirds of the stock must be represented. ; Fifth.-The company shall have power to establish all necessary by-laws, not contrary to this act, nor the constitution or laws of the United States, or of this state. Sixth.-The board of directors shall exhibit an accurate statement of the affairs of the company to the stockholders, Ibid. when required to do so, by any number not less than onethird of the whole. powers SEC. 6. And be it further enacted, That this act shall No banking not be so construed as to grant said company banking conferred. privileges. Approved, February 15, 1838. AN ACT to prescribe the mode in which the County Police of Marion county shall dispose of the three per cent. fund, belonging to said county, and for other purposes. missioners SECTION 1. Be it enacted by the Legislature of the state of Mississippi, That the board of police of Marion county Two comshall appoint two commissioners, who shall give such bond to be and security as the board of police may require, payable to appointed. the president of such board of police, or his successors in office, conditioned for the faithful performance of their duty, which bond shall be recorded by the clerk of the board of police, and filed in his office. commis SEC. 2. Be it further enacted, That the board of police shall pay over to the commissioners so appointed, all money, Board of notes, bonds, and effects belonging to the said fund, who sioners to shall loan said money at interest, at ten per centum per annum, taking note, with good and sufficient security, pay- &c. able to the president of said board, or his successors in office. pay over moneys, sioners to report. SEC. 3. Be it further enacted, That the commissioners aforesaid shall report to the police of said county once Commisa year, and oftener if required, the amount of money on hand, and the amount loaned, and to whom loaned; and the police may apply the interest of said fund to the building and repairing of bridges and roads in Marion county; and the commissioners are hereby required, upon the certificate of the clerk of police, to pay over the interest of |