The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-12-02
Maulton CITY.

AvA0uAIOA
ARTICLES OF AGREEMENT BETWEEN PAUL, MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER
RIroRY, AND THE SHAREHOLDERS MAUI.
TON CITY TOWN AND LAND COMPANY. gg
Article !. The company shall be organized on the
first Monday of May, A. D., 1858 at the Office OF Casa
day & Clark in Sioux City, Iowa. ..|.
Article 2. regular account shall be kept Of the
number Of shares sold the amount paid thereon 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 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, %. b..
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 and
two hundred and fifty dollars. 80 .-...r
Article s.. When any share part of share is TAX
en- there shall be paid down in cash twoffths 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
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 owner
on failure to organize snid company in which the
said twenty five per cent shall also be refunded One
fifth Of the said twoffhs, Ito Wit ten thousand dol
lars the said Maulton City Town and Land Company
shall expend in improving said City, and the balance
shall be Maid oyor To The said Pauit Morton 4 o. Ar
their order ~ : " - Ky ~ ~ z : W. :
Article g. In case the sa;d shareholders or anv q,
Them shall fail neglect to make payment to said
Paul, Morton Co. or assigns the amount with inter-
est to be paid annually on the said share shares or
parts thereof the same on prescntaon of the d,pi.
cate contract to the Naulton City Town and Land
COMPANY after any of said nayments shall become
due shall be by them declared forfeited and of no eff
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, new ceri-
and from that TINA thov or thc;r assigns shall no tho
only trne and Iawfnl owners thercof 'providea NO
share shares or ports thereof shall bc forfeited as
aforesaid unless thirty DAYS noce IA that affect he t
published in said Sioux Civ Eagle
Article 7 Each whole share shall In entitled IN two
votes each Ia sbare n one vnte and NAV he rrnre
sented i'm person or by proxy in writing Is the man
arement ef tho affa;r: II aid comnapy - ~ ="
Article s. The said comnany shall not he an.boriz.
ed to assess or collect in any one wear moro than ten
ocr cent on the amo,nt of any one share or mart OF
share for any purpose whatever reasonable notice
whereof to be given as they NAV deem proper = ~,
Article O. Ali hares or narts of shares not taken nj
nt the time Of the of said shall
belong to the said panI Morton Co or their asscns
.hares . - ID. = - = n : -" = -
Article TO- The said Paul Morton & Co. hind them.
syes their heirs executors and rs
to and with the several Shareholders and with the ed
ia,Iton CITY Town and Land Co,nnnuy when the
same i organized in the penal sum Of one thousand
dollars per share and AT that rate for pars Of shares
we'll and truly to be made to them their executors nd
CATION il such however that If the said Paul Morton
Co or their aSsirns shah well and tru,v nerform ali
and singular the thn.s hereinafter set forth for them
10 do and perform according r. the trna intent and