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

4 co., OF DECATUR, BURT COUNTY NEBRASKA TER
RIToRY. AND THE SHAREHOLDERS OF THE MAUI
TON CITY rowN AND LAND COMPANY.
Article1 The comp any shall be organized on the
first Monday OF May, A. ~ 1858 at the office OF Casa
day Il Clark in Sioux City, Iowa.
Article 2. regular account shall he kept OF the
number OF shares sold the amount paid thereon, and
the place Of residence OF the several sharchode and
list Of said shareholders published once month, in
the Sioux City Eagle newspaper published in Sioux
City. Iowa.
Article g. The Capital Stock Of said town ard land
company shall consist of four thousand acres of land
OF which will more fully appear hereaftcr reference be
Ing had also to the diagram Of said City. .-
Article L. The said land rhall 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 I've hundred dollars, and
two hundred aud fifty dollars
Article5 When any share or part of share Is TAX
there shall be paid down in cash two-fths Of the
amount thereof aud the balance shall be paid to Paul
Mourton Co.. assigns in three equal annual pay
ment from the date thereof with interest at ten FER
cent. per annun,. Twenty-Five Per cent Of the raid
twofths shall be paid to the said Paul Morton Co.,
for expense account and the balance shall be deposited
at interest, with such persons 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
eth of the said two-ffts, to ait ten thousand dol
lars the raid Maulton City Town and Land Company
shall eXpend i'll improving raid CITY, and the balance
shall be paid over to the said Paul, Morton Co. CT
their order.
Article 6. In Gaze the said shareholders or any o!
them, shall fail or neglect TO make payment to said
Paul, Morton Co. or signs the amount with inter-
est, to be paid annually the said share, shares
parts thereof the senta!ion of the dupl-
cate contract to the Nauton City Town and Land
Company after any OF said payments shall become
due shall be by them declared orci' ed and of ef
feet, and the said Town and Land Company rhal be
and are hereby authorized thereuron, to issue to the
said Paul. Morton X Go. their assigns, certi-
Gates for said forfeited share, sharcs parts thereof
and from that time they, their signs, shall be the
only true and lawful owners thereof Provided nc
share shares parts thereof shall he forfeited a
aforesaid unless thirty days notice to that asc! be first
psbi he'd in said Sioux CT y Eagle.
Article Each whole share hall be entitled to two
votes each halfshare to one vote aud may he repre-
sentcd in person by proxy in writing, la the man
| agement of the affairs OF said company.
Article g. The said company shall not be authoIiz
ed to collect in any year. more than ten
per cent on the amount of any HARE Fart Of
'hare, for any purpose whatever rca enable notice
whereof to be given as they may deem proper.
Article O. All shares parts OF shares not taken al
at the time OF the cragnizatit Of sad company shall
belong to the said Paul. Morton Co.. their assigns
and shall be subject to the same liabilities az Other
| shares.
Article IN. The said Paul, Morton s, Co., bind them
selves their heirs executor administrators and signs
to and with the several shareholders and with the said
MaIlton City Town and Land Company, when the
same is organized, in the penal of thou and
dollars per share and at that rate " parts of share
well and truly to lie made TO them. their executors nd
mini .traors or assigns The con.vios, of which obi
CATION such, however, that if the said Faui, NcrSo
i Co. their assigns shall well and truly perform nj
and singular. the things hereinafter set forth for them
to do and perform, according Is the true intent and
meaning hereof and on the organization of the Mau
ton City Town and Land Company convey to them in
trust for the shareholder Of said COM any, their hers
snd assigns by good aud sufficient warranty decd, in
fee simple the following described pieces parcas OF
land situate in the counties OF Soak Ciay and Pale
| Alto IN the State of Iowa, viz:
For Hauton City town site lr and fri III Of cc
T. 80, z. II W. containing i6S IL acres less
al the Or of sec l. the r of sec g. 5i,r fri IA
OF the or Of 80 the or Of sec 81 l. o. *. ~
al the lf of or II also lot No. in
% also the or % al~o tho e hi 20 or Is
II his Or Is, Inf se or and hf fri or %
also or 81 hf or SO r. 95 H. IS W; a!sc
hf NV or sec 10 or II, If a II. e,
81 hall NV or 80, T. g. X. Al ": al or
sw 1iseo %, IL sc Il sec 81 I. q6 X A. W; ako
/ hfne Or and ar NJ fr'l qr % ! % Il IS all
in the county Of Sioux aireiaid and also Inf q,
and sc or Or Of Or and " If wv or sec 3.
hf or and or of or and qr and NV "a Of NV
or sec9 or and Inf or 49, I o., Il 81 "; al!
in Clay county afore aid and al.o the or Of 81
Q hfne or sec Z 81. II 81 W; all in Palo Alto
county aforesaid containing in all four thousand
| of land moee less Provided laid town ard land
company shall within year from said organization
donate the following blocks in sad au!ton City. FOL
the following rurro e, viz: Block 81 fer church pur
poses block AZ for court house block ~ for public
park block SO for hotel block GO fer Na-onic Pur
poses Block Sc for steam saw mill: block IS for
steam Grist Will and block Ice for public school rur
poses. On the performance Of the above condition.
by the said Paul Norton & Co. their irns then
this obligation to be null and void otlnerw.e to
| remain and lie in full force and virtue ia law and
equity.