The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-03-10
Maultou CITY.
JOHN RICE.

ARTICLES OF AGREEMENT nETws.r PAIL, MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER
kIIoRY, AND THE SHAREHOLDERS or THE MAUI
TON CITY TOWN AND LAND COMPANY.
Articlel. The company shall be organized on the
first Monday of May A. u, 1858 at the Office OF Casa
day Clark in s sioux city, Iowa ,., .
number of shares sold the paid thereon, and
the place of residence OF tho several shareholders and
list Of said shareholders published a month, in
the Sioux City Eagle, a newspaper published in Sioux
City, Iowa.
Article 3. The Capital Stock Of said town and land
company shall consist Of four thousand of land
including the site 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 sud land shall be valued at fifty
thousand dollars which shall be divided into fifty
whole shares and one hundred half share. the value
Of which shall be respectively five hundred dollars and
two hundscd and fifty dollars.
Articles. When any share or part Of a share Is tax
there shall be paid down in cash twofths of the
amount thereof and the balance shall be paid to Paul
Mourton & Co or assigns i'm three equal annual paw
meut from the date thereof with interest at ten per
cent. per annum. Twenty five per cent Of the said
two-fths shall be paid the said Paul Morton Co.,
expense account and the balance shall he deposited
at interest, With such persons as may be agreed on
subject to the order of the Maulton City Town and
Land Company or to be returned to the proper
failure to organize said company in which the
said twenty per shall also be refunded. One
lars the said Maulton City Town and Land Company
shall cxDend in improving said City and the balance
shall be paid to the said Paul, Morton Co.. or
Article g. In case the said shareholders or any Of
them shall fail or neglect to make payment to said
Paul Morton 4 Co or assigns the amount with inter
est to be paid annually on the said share shares or
pafts thereof the same on presentation of the dup
cate contract to the Naulton City Town and Land
COMPANY after any of said paymeuts 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 thercupon to issue to the
said Paul Morton CO. or their assigns new certif-
Gates for said forfeited share shares OF PARTS thereof
and from that time they or their assigns shall be the
ony true and lawful owners thereof. Provided no
share shares or parts thereof shall DO forfeited as
aforesaid unless thirty DAYS notice to that affect be first
publi he'd i'm said Sioux CITY Eagle
Article Each whole share shall be entitled to two
votes each half share to one vote and NAV be
sentcd in person or by proxy In writing in the man
| agement Of the affairs OF laid company
Article g. The said company shall not be authoriz-
ed to assess or collect In any one year. more than ten
per cent the OF any share, or part Of
share, for any purpose whatever rea enable notice
Article O. All shares or parts of shares not taken at
at the time of the organization of said company shall
belong to the said Paul Morton Co., or their assigns
and shall be subject to the same liabilities Us other
| shares.
Article TO- The said Paul Morton 4 Co. bind them
selves their heirs executor and assigns
to and with the several and with the sad
| Mavlton CITY Town and Land Company. when the
s.u,e is Organized in tile pena sum Of one thou aud
we'll and truly To be made to item their executors adj
mpistrators or assigns The condition of which obi.
| cation il SUCH however that II the said Paul orion
& Co. or their assigns shall we'll and truly perform all
and singular the things hereinafter forth for them