Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1878-02-27
Article Of Co-Partnership.

This article Of agreement made and entered in
10 this twenty-third day Of February. A. ID. 1878,
witnesseth That Edward T.. Campbell, who re-
sides at the city Of Monroe, in the state OF Mich
igan, and Edward n. Potter and William H..
Potter, who reside at the city OF Alpena. 9llehI-
gan, do hereby enter into co-partnership for tho
purpose Of carrying on the business of manuiac-
turing lumber and shingles and procuring the
stock and material therefor.
This partnership shall be known and do busi-
ness under the name ana style OF w. II. a Z. h.
Potter. Said partnership shall begin on the
twenty-third day Of February, A. ID. 1873, and
continue tor the period Of five years next there
AFTER and the business OF said partnership shall
be carried on at the city OF AlpenA, and on lands
situated on Thunder Bay River and ITS branches,
and such other l,nds as sad partnership may
from time TO time select or purchase.
Said w. IL. * r.. X. Potter are 70 be general
paItners, and said 4. L. Campbell Is 70 be
special or dormant par timer. Said W. ii. l.. 4.
Potter shall have the sole and exclusive manage
ment OF ali the business OF said eo-partnership.
Said l.. Z. Campbell shall not be responsible or
in any way liable for amy of the debts or obligR-
tions OF said partnership beyond the amount Of
capital which h contributes 10 the partnership
assets, hereinafter mentioned nor Is said Camp
bell 10 bind on make liable said partnership for
the payment of any debt or liability whatever,
nor do any act or thing by which the conduct or
legal liability OF said partnership will be interfer-
led with or fixed or charged, nor contract any OBJ
legations in the name of said firIn.
The capital stock Of said co-partnerShip consists
Of the lands buildings, stock, goods and chattes,
and credits belonging 10 the late firm of Campbell,
Potter Company, situated in the city and coun-
~ OF Alpena. and in the counties OF Altoona and
Montmorency, in the State of Michigan. The
fair cash value Of the aforementioned property il
one hundred and twenty thousand dollars. OF the
above named property William IL. Potter owns
one-thiId, winch Is worth in cash the sum Of for
ty thousand dollars, which lac contributes tn the
assets and capital of said co-partnership. OF the
above named property Edward X. Potter owns
one-third which is worth ia cash the sum of forty
tlnnsuul dollars and uhipl he hprpbV pDnfTib-
utcs 10 the assets and capital Of SAID co-partner-
ship, and of the above named property Edward
7. Campbell owns une-thlrd which Is worth in
cash the sum Of forty thousand dollars, which he
contributes TO the assets and capital OF said CO.
partnership, on the terms and conditions herein
before stated. The said interest and property Of
said +. =. Campbell in said co-partnership, is en-
numbered by mortgage to the extent Uf eighteen
thousand dollars which encumbYnnce said L. L.
Campbell is 10 cause 10 be removed, and leaving
his said one-third interest in said co-partnership
unencumbered.
The three parties TO this agreement shall share
equally and alike in the net profits of said BUSH
ness that is 10 say each shall be entitled 70 one
third. Each of said partners shall be liable 20
pay one-third of the debts and expenses OF said
partnership business, provided, however, that
said Campbell shall be liable to the extent and
value Of his said interest and contribution os the
same would be after said enpumbranee Is rsmov-
ed, ana no farther.
At the end OF each year, that ia to say, on the
first day of January, A. d. 1879, and on the first
Jay OF january ehcn year thereafter, balance
sheet shall be made by the person then keeping
the books Of account of said CO. partnership, and
balance OF profit loss shall then be declared and
apportioned among the three parties TO this agree
ment IN accordance with their respective interests
and u general accounting among partn RS shall
| then be had.
The books Of account and ell property and
things belonging or appertaining TO this co.part-
nership, shall be open to the examination of any
and all the parties 10 this contract at all times.
| II is further agreed that the said Z. X. Potter
and W. Ii. Potter shall devote their time and en-
erges to the careful and efficient prosecution OF
the business herein contemplated and they shall
each receive an annual compensation Of one thou
sand dollars out Of the funds belonging to sand
co-partnership.
In witness whereof the said parties have here
unto set their hands the year and day first above
written.
+. p. CAMPBELL,
w. II. POTTER,
L. X. POTTER.
Alpena County-ss.
hereby designate the ALPEsA WEEKLY ARGUS
and Alpena County Pioneer, two newspapers
printed and published in said county Of Alpena
for the publication of the foregoing and annexed
articles of co-partnership, affidavit and certificate
according 20 the statute in such case made and
provided.
Dated February esd. 1878.
349vG w Il Johnson County CLERK