The Laws of Texas, 1822-1897 Volume 7 Page: 1,485
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Laws of the State of Texas.
785
fix and pay a proper compensation, by salary or otherwise, to
all the officers hereinbefore specially named, except themselves,
and also to such others as under the general powers
they may see fit to appoint. The compensation of the aldermen
shall be two dollars per day for each day the board may
be in session; provided, that no alderman shall draw pay in
two rights.
Sec. 10. This act to take effect and be in force from and
after its passage.
Approved June 2d, 1873.
CHAPTER CCCIII.
An Act to incorporate a Savings Bank in Bonham, Texas.
Section 1. Be it enacted by the Legislature of the State of
Texas, That J. W. Cox, A. J. Dorn, J. B. Shortridge, J. M.
McKee, Richard White, Milton Nunn, J. R. Chenoweth, L.
F. Smith, F. H. Williams, and those that they may associate
with them, and their successors and assigns, shall be and they
are hereby created a body politic and corporate, by the name
of the "First Savings Bank of Bonham, Texas;" with power
in that name to contract and be contracted with, sue and be
sued, plead and be impleaded, answer and defend, in all courts
and places whatsoever, as a natural person; and it may have
a common seal, and may change and renew the same at
p] easure.
Sec. 2. The corporation hereby created shall have power
to purchase and hold in fee, or by lease, such an amount of
real estate as may be necessary for a convenient bank building.
Sec. 3. It shall be lawful for said corporation to transact
financial business as a natural person; to loan money,
discount promissory notes, buy and sell exchange, stocks,
bonds, and all other mercantile securities; and shall be governed
by and subject to the same laws, as though a private
individual.
Sec. 4. Said corporation may issue letters of credit, and
bills of exchange, payable throughout the United States,
Canada, Europe and Asia, and other foreign countries, for
convenience of commerce and travel.(1485)
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1822-1897 Volume 7, book, 1898; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth6732/m1/1487/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .