The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-01-13
ATKINS & STEELE.
Maulton CITY.

ASAouAGS44 SASys
ARTICLES OF AoREENENr BETWEEN PAUL, MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER.
RIroRY, AND THE sHARt HOLDERS OF THE MAUI.
TON CITY TOWN AND LAND COMPANY. -f
Artclc1. The company shall be organized on tn.
first Monday Of May A. ~ 1858 at the Office of Casa
day 4 Clark. in Sioux City, Iowa.
[ Articlc2. regular account shsll be kept Of the
number Of shares sold the amount paid thereon, and
list Of said shareholders published a month in
the Sioux City Eagle newspaper published In Sioux
City, Iowa. ~
Article 8. The Capital Stock Of said town aad land
company shall consist of four thousand of land
including the town site OF Mauton City, the description
OF which will more fully appear hcrcafter reference be
Article 4. The said land shall be valued at hfty
thousand dollars which shall be divided into fifty
whole shares and hundred half shares the value
OF which shall be respectively five hundred dollar, and
two hundred and fifty dollars.
Articles. When any share or part Of share Is TAX
en- there shall be paid down in cash twofths Of the
amount thereof ana the balance shall be puid to Paul
Mourton Co.. assigns In three equal annual pay
ment from the date thereof with interest per
cent per annum: Twenty-Five per cent Of the said
two-ffths shall be paid to the sad Paul Morton K 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 Mauton City Town and
Land Company, to be returned to the proper
failure to organize said company in which the
said twenty five pcr cent shall also he refunded One
fifth Of the said twoffths, ttov ten thousand dol
lars the raid 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., OF
Their order. T.. f.r..4 ~ .r..r+.s. .,..r .a-..
Article 8. In case the said shareholders or any Of
them, shall fail neglect to make payment to said
Paul, Morton Il Co. or assigns, the amount with inter
est to be paid annually ON the sad share shares OF
parts thereof the same on Presentation OF the dup
cate contract, to the Mauton City Town aud Land
Company, after any OF said payments shall become
due shall be by them declared forfeited and of no Ct
feet, and tho said Town and Land Company shall be
and hereby authorized thereupon to issue to the
said Paul, Morton Il Co.. their assigns, new certi6
and from that time they or their assigns shall be the
only true and lawful owners thereof. Provided nc
share shares or parts thereof shall be forfeited
Aforesaid unloss thirty days notice to that sect be first
published in said Sioux City Eagle.
Article T. Each whole share sha DO entitled to two
votes each half share to one vote and may be
sentcd in person or by proxy in writing in the man.
agemcnt of the affairs Of said company.
Article 8. The raid company shall not be authors.
Cd to assess or collect In any one year, more than ten
per cent on the amount Of any share, part Of
share, for any purpose whatever reasonable notice
whereof to be given - they may deem proper.
Article g. All shares or psrts Of shares not taken q
ct the time OF the oragnsatn Of said company. shall
belong 70 the ssd Panl, Morton Co., o. their asegus
and shall b. subject 70 the same liabilities - othes
shares. sa3s ~ arua -
Article IN. Ths ..,d Paul, Morton & Co.. bind them.
selves their heirs EXECUTOR administrator and Assigns
% and With tbs several shareholders and with the faA
Mallton City Town aDd Land Company, when the
rane h organized In the penal sum Of ono thousand
dollars per share and ut that rate for parts Of rhare
well and truly to be made to them their executors a.
ministrators d sssgrs. Tho coalition Of which obi
gstton J, such, however, that the said Paul. Norton
Co. their assigns shall well and truly perfom ill
and singular, tho things hereinafter set forth r them
TO do and perform, according 70 the true intent and
meaning hereof and the organization Of the Maui
ton City Town and Land Company convey to them in
trust Tor the shareholders Of Sad company, their hd
snd assigns BY good and su6Adent warranty decd. h
Zee simple the following described pieces parcels d
land situate In the COUNTESS OF Houx, Clay, and Palo
Alto, In the State Of Iowa, viz:
for Nauton City town ritc fe ar and fri hf Of ssc.
r 95, 4. q v. containing 46s l2 aes more or lsss;
also the ne Or Of sec the sw Of O., t1s MI II
Of the Or Of 80 the or Of 81 r. oS B. II
W. also the hf Of Or II also lot No. l. in
- also the NV Or sec 26 also the hf Or %
also Of &c Is T.ei r ~ "; also hf 70 or sec
IL ehfss or sec Is. hf r. Or and hf fri ar g.;
hf NV ar sec 10 NV or SEQ H. hf sw Or 81. Or
sec FL half NV or sec 49, o. h. II y; also Of Of
IL SEQ e. Ia - IA n r. 08 Is y; aiso
hfne Or, and or Of fri Or REQ Is o. IS w. oil
in the county Of Sioux aforesaid and also hi ne ar
and 80 or fec sw or Of NV Or and hf Or 8,
ut NV qr and fw Of NV Or and or aud nwqa ofnw
Or sec9 " and hf sw Or SO, 05, IS "; all
id Clay county afore aid and also thesw Or o. NV qr
rec 2. hfne " sec 8 I 81, 81 W ell In Palo Alto
county Aforesaid containing in all four thousand acres
Of land noes or less. Provided said town and land
company shall within year from said organization,
donate the following blocks in said Saulton City, foE
the following purposes, Wis., Block 81 for church pur.
poses block ~ for court house ;block 46 for public
park block Sc for hotel block Us for Masonic puY.
pores Block Sc for steam saw mill; block IS for
steam Grit Mill and block LOO for public school pur-
By ths said Paul Morton 4 Co their assigns then
this obligation to be null and void, o&herwiss to
remain and ~ in full frsvs and virtue II Law and
equity.