The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-02-17
ATKINS a. STEELE.
Maulton City.

ARTICLES OF AGREEMENT BETwE PAUL, MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER.
RIroRY, AND THE SHAREHOLDERS MAUI.
TON CITY TOWN AND LAND COMPANY.
Article l. The com; any shall be organized the
first Monday of May, A. rs 1858 at the Office OF Casa
day Clark in Sioux City, Iowa.
number of shares sold the amount paid thereon, and
the place Of residence Of the several Shareholder aud
list Of said shareholders published a month, in
the Sioux City Eagle. newspaper published in Sioux
Article 8. The Capital Stock Of said town and land
company shall consist of four thousand acres Of land
including the town site Of Mauton 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 fry
whole shares and hundred half shares the value
Of which shall be respectively five hundred dollars and
two hundred and fifty dollars.
Articles. When any share part Of share is TAX
there shall be paid down in cash twoths Of tie
amount thereof and the balance shall be paid to Paul
Mourton Il Co.. assigns in three equal annual pay
ment from the date thereof with interest Mt per
cent. per annum. Twenty five per cent OF the said
two-ffths shall be paid to the said Paul Morton Co.,
for expense account and the balance shall be deposited
at interest," with such persOns rs may be agreed ON,
subject to the order of the Mauton City Town and
Land Company, to be returned to the proper owner
failure to organize said company in which the
said twenty five per cent shall also be refunded One
fifth Of the said two-fths, Ito Wit ten thousand dol
shall expend in improving said City and the balance
shall be paid over to the said Paul, Morton Co. or
their order.
Article g. In case the said shareholders or any of
them, shall fail neglect to make payment to said
Paul. Morton Co. assigns, the with inter-
est, to be paid annually the said share, shares
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 ef
feet, and the said Town and Land Company shall be
and hereby authorized thereupon to issue to the
said Paul. Morton Co., or their assigns, certf-
Gates for raid forfeited SHARE share or parts thereof
that chs he
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
Article Each whole share shall be entitled to two
votes each hafsh.re to one vote and may be repre-
sse@ent or the aars Of l ssS compsny the man.
Article g. The said company shall not be authorix-
cd to collect In any year, than ten
share, for any purpose whatever reasonable notice
| whereof to be given ss they may deem proper.
Article All shares or parts Of shares not taken at
at the time OF the oragnization OF said company shall
belong to the said Paul. Morton Co., their assigns,
and shall be subject to the same liabilities other
shares.
Article TO- The raid Paul, Morton Co., bind them
selves their heirs EXECUTOR administrators and assigns
to and with the several shareholders and with the said
Maalton City Town and Land Company, when the
anne Is organized, in the penal sum Of thousand
dollars share and ut that rate for parts Of shares
well and truly to be made to them, their executors ad
cation i such however, that II the said PAUL. Norton
Co.. 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 aud ON the organisation OF the Maui.
ton City Town and Land Company convey to them in
trust for the shareholders Of sad company their hr,
snd assigns by good and sufficient warranty deed In
fee simple the following described pieces parcels Of
land situate in the counties Of Sioux, Clay, and ralo
Alto, Ia the State Of Iowa, viz
For Naulton City town site Or and fri Inf Of
T. 95, r. Al W. containing 468 IL acres, less;
also the nc or OF sec the sw ar OF sec the fri ut
Of the Or Of 80 the ar Of 81 T. 05 X. Al
also the hf Of Or IL also lot No. l. In sec
% also the qr rs also the If Or %
al.o sw OF sc % 7. 81 X IS W also hf Or
IL hfse or 49, hf or and hf fri Or 20;
also se Or IS hf sw or 81 T. IS t. As "; also
hf NV or 10 or IL, Inf or 81. NV Or
u. half lr 20, r. o. r. Al W; also Or Of
sw II seo %, l-2 Sc IA sec 81 T. o. As W; aso
hfne Or aud he qr Of fri or 25. 90 II 43 W: s
and sc Or sec sw or Of or aud hf Or 3, g
hf NV or and Of NV Or and Or and NV "a ofnw
Or secs, or and W hf or 3d. L %, Il IS W; all
in Clay county nfore- aid and also the or Of qr
zee 2 hfne sr 3 T "a, X ~ W; all In Pxlo Alto
county Aforesaid containing in all four thousand
Of land moee less. Provided said town and land
company shall within year from said organization
donate the following blocks in said NaultOn City, for
the following purp0es, viz: Block "a for church pur-
pesos block AZ for court house block 10 for public
park block Sc for hotel block 6S for Masonic pur.
poses Block SO for steam saw mill; block So for
steam Gri>t Mill and block log for public school pur.
poses On the performance Of the above conditions
by the said Paul, Morton Il Co. their assigns then
this obligation to be null ana void, otherwise TO
remain and be in full force and virtue in Law and
equity.