LIBERTY, May 22, 1888.

OFFICE MISSISSIPPI UNION BANK


jackson, May 12, 1888.
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DEAR Sin: Enclosed transmit the d.
rections of the Bank Attorney, which you
will please scrupulously observe in ma
king your examination in the chain of
titles to property proposed to be mort
gagged to the Bank. When persons have
not their chain Of titles perfect, it will
be imperative that they shall render
them so before they are sent for the in
spection Of the Directory Of the princi-
pal Bank, for final decision. The sue
cess Of the institution, the prosperity of
the people Of Mississippi generally, and
especially Of those who may be the i'm
mediate stockholders, require that our
action shall be marked with due precau-
ton.


1t is the sense Of the Directory, that
persons shall not be required to pay
over the (9a) two and half per cent.
on their stock until the Books Of sub
scription, title papers, &C., are sent here,
and finally passed on, and the stock
graduated according to the charter, when
the papers will be returned accompa-
MED with mortgage, to be executed
by the subscribers, and money paid in;
when, and not until then, will the stock
be declared on, and certificates issued.
My reason for being thus particular is,
that numerous inquiries are made in re-
lation to this matter. If you have pro-
gressed and find that you have been gov
erned by different rule of action, be
pleased TO change, SO as to conform
strictly to the present instructions. 1t
will be an easy matter for you to cor
rect any error into which you may have
fallen; and be assured that in a bust
ness Of such immense magnitude, it is Of
essential importance that uniformity and
system shall govern US.


| have The honor to be, very respect
fully, your obedient servant,


III. G.. RUNNELS, President.