The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-11-25
Maulton CITY.

CO., OF DECATUR, BURT COUNTY NEBRASKA TER
RIToRY, AND THE SHAREHOLDERS OF The MAUI.
TON CITY TOWN AND LAND COMPANY.
Article l. The company shall be organized on the
first Monday of May, A. o., 1858 at the Office Of Casa.
day L Clark in Sioux City, Iowa
Article =. A regular account shall be kept Of the
number of shares sold the amount paid thereon, and
the place Of residence Of the several sarehoders and
list Of said shareholders published once month in
the Sioux City Eagle. newspaper published In Sioux
City, Iowa.
Article 8. The Capital Stock of said town and land
company shall consist of four thousand of land
including the town site OF Maulton City, the description
Of which will more fully appear hereafter reference be
ing had also to the diagram of said City.
Article 4. The said land shall be valued at fifty
thousand dollars which shall be divided into fifty
whole shares and one hundred half shares the value
Of which shall be respectively five hundred dollars aud
two hundred and fifty dollars.
Article5 When any share part of share Is TAX
there shall be paid down in cash two fths Of the
amount thereof and the balance shall be paid to Paul
Mourton Co.. assigns in three equal annual pay
ment from the date thereof with interest at ten per
cent. per annum. Twenty five per cent Of the said
two-ifhs shall be paid to the said Paul Morton L Co.,
for expense account and the balance shall be deposited
at interest," with such persons as may be agreed on,
subject to the order Of the Maulton City Town and
Land Company, to be returned to the proper
on failure to organize said company in which case the
said twenty five per cent shall also be refunded One
fifth Of the said twofhs, Ito it ten thousand dol
lars the said Maulton City Town and Land Company
shall expend in improving said City, and the balance
shall be paid over to the said Paul, Morton Co., or
their order. " r. '' n
Article 6. In the said shareholders or any OF
them, shall fail or neglect to make payment to said
Paul, Morton Co. or assigns the amount with inter-
est to be paid annually the said share, shares or
parts thereof the presentation Of the dupli-
cate contract, to the Maulton City Town and Land
Company after any Of said payments shall become
due shall be by them declared forfeited and of no ef
feet, and the said Town and Land Company shall be
and are hereby, authorized thereupon to issue to the
said Paul, Morton 4 Co. or their assigns certi-
said nttoh sharn
and from that time they their assigns shall be the
only true and lawful owners thereof. Provided no
share shares or parts thereof. shall be forfeited as
Aforesaid unless thirty days notice to that affect be first
publ. he'd in said Sioux City Eagle.
Article7. Each whole share shall be entitled to two
votes each half share to one vote and be repre-
sented in person or by proxy in writing, in the
agement Of the affairs of said company.
Article s. The said company shall not be authorix-
ed to assess or collect in any year, than ten
per cent on the amount of any share, part OF
share, for any purpose whatever reasonable notice
whereof to be given as they may deem proper.
Artice9 All shares or parts OF shares not taken at
at the time of the Organization Of sad company shall
belong to the said Paul, Morton Co.. or their assigns
and shall be subject to the same liabilities other
shares.
Article 10. The said Paul Morton 4 Co., bind them
selves their heirs executor administrators and assigns
to and with the several shareholders and with the said
Maulton City Town and Land Company, when the
same is organized in the penal sum Of thousand
dollars share and at that for parts Of shares
well and truly to be made to the their ad
Winistratofs or assigns The condition OF which obi
CATION Is such, however, that If the sad Paul. Norton
Co. or their assigns shall well and truly perform all
and singular the things hereinafter set forth for them
to do and perform, according to the true intent and
meaning hereof and the organization of the Maui.
ton City Town and Land Company convey to them in
trust for the shareholders Of said company their herr
snd assigns by good and sufficient warranty deed in
Zee simple the following described pieces parcels of
land situate in the counties of Sioux Clay and Palo
Alto, in the State of Iowa, viz: -....
For saulton City site Sc or and fri hf Of Sec
. II X. 4 10 Il
also the or Of sec the Or s. the fri hr
OF the of 80 the or of 81, T. 95 II. Al
also the hf of or IL also lot No. !, in sec
~ also the or sec rs also the Inf ar sec 2s ;
also sw OF Re sec IS T. 81 As also If Sc Or sec
ehfs Or sec Is, hf Or and hf fri or sec g.
also Sc Or sec 35 hf or SO I. 95 Il. IS "; also
mt NV Or rec 10 NV or sec H. hf or 81 or
81 hafnw or sec 90 T. &C. r. At "; also nv or Of
sw IA SEQ %, IL Ia p T. 06, As "; also
hfne Or, and or of fri or 25 o5 As W. all
in the county of Sioux aforesaid, and also hf ne ar
and sc Or sec sw Or Of or and hf ar sec 8,
hi NV or and sw or OF NV Or and or and "a ofnw
Or sec9, ne Or and Inf or 33, 95, 35 W; all
in Clay county afore aid and also the or Of NV or
sec 3 hfne or I 81, Il "a W; all in Pa,o Alto
of land moee or less. Provided said town and land
company shall within year from said organization
donate the following blocks in said aulton City, for
the following purpose viz Block 81 for church pur-
poses block AZ for court house block 40 for public
park block So for hotel block 6S for Masonic pur-
poses Block Sc for steam saw MILL block So fer a
steam Grit Mill and block LOG for public school pur-
poses. On the performance Of the above conditions
by the said Paul Morton & Co. their assigns then
this obligation to be null and void, otherwise to
remain and b in full force and virtue In Law and
equity.