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j CHARTER [OP INCORPORATION" j ^	--- of --
The Merchants’ Bank,
TO BE LOCATED AT BAY ST. LOUIS, HANCOCK COUNTY, MISSISSIPPI. '	,
"We, the undersigned, hereby associate ouiselyes together with such others as may hereafter become associated withjj us, for the purpose of forming a corporation under the laws of the State of ^Mississippi.
I	ARTICLE	I.	■. - ■’
i This corporation is to be known under '.thename of The Merchants’
Bank. Its-domicile shall be the City of Bay St.
' Louis, County of Hancock, State of' i Mississippi, and shall exist for a period : of Fifty (50) years, unless sooner dis-j solved by a two-thirds (2-3) vote of the [ stockholders.	•
j	.	ARTICLE	II.
! . This corporation is created for the Vur-j pose of doing a general banking busi-; ness, and it shall have the jpower to do tall acts necessary for that purpose.
ARTICLE ill.
| The capital stock of this corporation is
■	fixed at Twenty Thousand ($20,000.00) Dollars,divided into Four Hundred (400) shares of Fifty ($50.00) Dollars each, and each share shall be fully paid up,
. and non-assessable; said—capital—steek j may-be increased -by- ar twcFthird - ~(2=3~) t wte-of the-stockholders.
!	'	(	ARTICLE	IV.
| Tliis corporation shall be managed by j a board of directors elected by the stock -
■	holders, which said directors shall elect from their number a President and Vice
I President and also elect a cashier.
I	ARTICLE	V.
i The Board of Directors of this corporation are L. H. Fairchild, W. J. Poi-; tevent, Jno. Osoinach, L. Spotorno, A. |F. Cameron, L.'M. Gex, R. C. Engman,
; Chas. G. Moreau, J. A.Breath, John K. j Edwards and G. G. Gardebled, who shall ; serve until their successors are elected.
j	ARTICLE VI.
; The Board of Directors that shall sue-; ceed the above-mentioned board shall > consist of such number as shall be pres-; eribed by the By-Laws.
;	ARTICLE VIII.
I At least Seventy-Five (75) per cent of : the capital stock shall have been paid in ' before this corporation shall begin busi-’ ness.	'
In testimony whereof we have hereunto signed ournomes and affixed our seals, thisl6th day of September, A. D. 1903,
’“L. H. Fairchild, SVm. j. Poitevent, rjohn Osoinach, [L. Spotorno,
* A, F. Cameron,
L. M. Gex, f J. K. Edwards, Chas. G. Moreau, ‘ J. A. Breath, jR. C. Engman,
C. A. Mauffray,
Jeff C. Wenck,
C. B. Thorn,
F.	Zeigler,
Eads Poitevent, June Poitevent, Wm. P. Burke. Robt. B. Parker, Wm, T. Maginnis, Emile Perre,
GastonG. Gardebled, Marie V. Gex,
I Richard Mendes, tJ. M. B. Spence,
' J. M. Tyler,
! R. J. Turner,
' W, L. Bourgeois, George Muller, Frank Dillmann, F. Banderet,
W. J. Gex, ' Emile J. Gex,
A. Scafide,
L. B. Capdepon,
R. N. Hamilton, Jas. G. Fayajd, Claud Monti,
Mrs. W.'J. Goxi H E. McGuire, Mrs. Joan N. Seal, Mrs., F. Dillmann, Mrs.M. E. Meek,
Mrs.Angeline Moreau,Peter Capdepon,’ j Josie E. Welch, Angelo Tazetti. Steyen A. Voorhies, G. & E. Templet.
MERCHANTS HAN(TSTATfe«HENTS.
.—1 Elsewhere in this issue, of Thei Echo will be found two stated ments of the financial condition of The Merchants Bank, Bay St. Louis. The first was taken from; the bank’s books on February 3,1 1904, three months and a half af-!
ter business had been started antii!
r I
was published last week in accordance with Chapter 14 of the Code, 1902/the call made by the State Auditor.	-	.
The second statement taken from the bank’s books on April 23, 1904, six months after date of opening, and over two months af-the first statement, is voluntary,-and makes a splendid showing for an institution so young and in a field not to itself. Asi^e from the interest which naturally! comes to those who are materially] concerned in the Merchants Bank, the statement makes good reading from the fact that it is a Bay St;. Louis institution and that it is • prospering beyood all expecta- > tion. The figures make an inte- i resting comparison.	;
The next statement, to be call-* ed for by the auditor, will be ea-i gertyvWatcJicd, for it is reasonably j expected to exceed all previous fi-
gufeir?^^
L. H. Fairchild Presented With a I Loving Cup.	t
At a meeting held Monday afternoon, called for that purpose, Mr. L. H. Fairchild, president of the Merchants Bank,' was presented with a handsome solid silver loving cup upon the occasion of his retiring from the presidency of the bank and as a token of friendship and esteem and appreciation for valued services rendered. Mr. Fairchild said:
“It is my desire to retire from the-presidency of the bank. I am gradually getting my business in such shape as td not require my constant attention, with! a view of spending much of my time in traveling, and my prolonged absence at times would be an injustice to the bank. I am proud of the success of the bank untier the administration headed by myself and will take pleasure in assisting in its future prosperity.”
The presentation was made in a well-worded address by Vice President Jno. Osoinach, who acted spokesman for the directors.
At a meeting of the board of directors! held last night John Osoinach was elect-:1 ed president and L. M. Gex first vice president of the bank.	,
77	'	~	J
STATEMENT
Showing the Condition of The
fierchants Bank,
of Bay St. Louis, Mississippi,
On February 3, 1904,
RESOURCES.
Loans and discounts on personal endorsements, real estate, or collateral securities.............................24,788 50
: Overdrafts secured,.............	326	01
i Furniture and fixtures,......... 1:203 41
i Expenses,.......................1218 93
> Sight Exchange,.................6,274 85
i Cash on hand....................8,067 23
j Total,........................ 41,878 93
!	LIABILITIES.
Capital paid in,................ 20,000 00
Undivided profits,............... 1,233 20
Individual deposits subject to check,.18,910 98
Time certificates of deposits,.I.. 1,698 75
Cashier's check...........................	36	00
Total,.
STATEMENT
Showing the Condition pi The
Merchants Bank,
of Bay St. Louis, Mississippi,
On April 22, 1904.
______	- x
RESOURCES.
Loans and discounts,.........  33,738 47
Cash on hand and due from banks,..... 8,567^78
Expenses,...............J..... 1,605 06
Fumituseand Fixtures,........ 1,304 21
Overdrafts secured,...*.......	740	'88
Total....................................$ 45,956 40 j
LIABILITIES.
Capital Stock,paid in..................... 20,000	00
Deposits, ................................ 23,701	11
Undivided profits,........................	2,255	29
41,878 93 1 Total,.........................,.........	$	4o,§56	40
The Merchants' Bank of Hay St. Louis, Miss., capital $20,000, has b«*#uu business. The incorporators are L. II. Fairchild, William J. Poitevent, J. K. Edwards and others; George R. Uea, cashier; J. K. Saucier, assistant cashier.