The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1880-10-15

In order 10 safisfy many Of 6ur peo-
pie who feel . deep interest IN the
good of Seattle, and look 10 the
transfer Of tha, property To wealthy
capitalists a. the frs step ia the
march Of prosperity. and in order tb.,
ell these people may know all the
terms. condition. and particulars con-
corning the transfer recsnsly made. We
got permissinn through the coartesy OF
Hoo. A. A. Denny. President Of the
Company. 10 copy verbatim, not only
the contract in all its details. but Also
thu inmates 81 the meeting. ., which
the coatraet 80 nsidsd By the diisc-
tors ". pubhsh il below. bat nei-
dentiy We will here state that We are
reliahly Informed thai Nr. Willard xiIi
ct DOCS spend Fifty or sixty thousand
doila-s 90 the rosd In putting It in
proper order for work his winter.
Everything points to the eoecausioo
that the road will be built across the
mouatains next sumoef. Mr.. Willard
has iyss purchased from the Northern
Pacific railroad company l50. 600 acres
Of Land IN whitman county. almost on
the direct line Of tbs::psopossd foots
Of the Seattle and Walls Wslla Rail-
road. Marks and exhibits are nos be-
ing made in this city 10 be laid before
Mr.. Willard, and Ges. Tanasts will
start in November for Ns~ York with
ell the necessary Information for tina,
puspose. Il
PARTICULARS OF THE SALE.
OYYIcK OF THE SEATTLE AND
wALIA WALLA RAILROAD Co.
SEATTLE. Oct. Is. 1880.
Meeting OF the Board Of Trustees
held ct / O'Clock p m.
Present A A Dsnsy. President. and
Messrs. d T Denny. F Matthias, Jro.
Lssry, A Macintosh. b 0atzert, II L
Ys,ler and J n ColmAx.
The following sgsesmsnt cas- pre-
sented - having b~en catered into by
A A Deany Esq. on behalf OF the
e,mpsny: 81
''sArticie u agreement made thu lbh
day Of Oct A. ID. $780, between the
SEATTLE and WAlla Wslia R.ilroad Co..
duly incorporated under the laws Of
Washington Territory. and hereinafter
called the party Of th. first pa {. A A
Denny OF Seattle. af aid OF the
second part. and Hem. Willard, OF tue
City and State OF New York, Il the
third part. whereby in consideration Of
the respective covenants aud agree
mentS Of the parties hereinsfter con-
tanned. il is stipulated covsnanted and
agreed Is follows:
First. The said company will sell
aud Henry Willard will buy the entire
property of said company, of every
DESCRIPTION, free and clear Of Gil
liens. taxes and membranes. at the
price of three hundred aud dfty thou
sand dollars. gold. and payable to said
Denny. at the banking house Of Dexter
Horton r Go. in Seattle. in three equal
instruments on the iith day OF Novem-
Der. December aud January next.
Secoad. Possession Of said property
shall 10 delivered to said Henry Willard
thwith, after the execution of tkes~
presents.
Third. Said Denny shall stand pos
ssssed Of such purchase money when
and - paid to him upon tsast foe said
company and for Aid Willard jointly.
and for the purposes OF these articles.
and shall on the receipt thereof. in the
irst place pay snd discharge the debt
now due by said CON pany to the Seattle
Coal 4 Trssspoststioa Company. CON.
puted to the date Of these articles; and
10 the next plscs all esAer debts and
liabilities OF the aid company. comput.
Cd = ths date Of shess srtielss; sod,
lastly. Ovid tas balanoe sstshly smoag
the stockholders d the aid company,
Fourth. Any dsbts and Liabilities OF
said company, Of which said Willard
may be tbs owner. may b deducted BY
him from the purchase noosy payable
~ slorsnld, ssd The halanes snly there
of. after deducting the debts and liabil-
tiles, ownsd by said Willard be paid
10 said Denny. bat on making any such
DEDUCTION, said Willard shall. il re-
Quired. In proper form release the
stockholders 1t sAid company from oil
personal liability il sSspecs thereof.
Ftflh. All ~ seoek Ct ~ company
shall BE- dspssitsd with sd tsaasfsrred
on the hooks 10 md Denny. = trustee,
for the purpose Il t,rse articlss, and
aid Deosy. ~ ,ra,rr. - Aforesaid.
shall deliver b all stockholders .
nsuorasduu Isesips Tor The stock %
deposited. sssaiag thAs he ssid stock is
% deposited tpe - paTpoee 81 carry
iag out the sale Of The property OF saso
spopany - proviasd Sse in ths con,ract.
aadthaI sASbeAfsr 81 suchtmemorasduo
possips = sasiGlsd 10 the dividend pay.
ahas out q sch psrehass mooey after
the sakiafastioo Of ~ liabilities Of ssid
company - hetein pss1i1s1, and not
less than six-ssveushs q The Seock shall
b - aspcited Win and tzassoefrod y
ed Dsney before - 1rsk inetsleone
Of tbs psrchass price shall be payable.
sixth. On cnmplseioa OF did sAle
| said Dsssy shsil cancel aid stock, or
sraosfee the sane TO said Willard. OF any
persoa noninatsd By him. - he may
direct. and aid company and said Den
ny vill further. il % requested By sid
Willard. aud st aid Wizards expense.
take al the proceedings nscsssary to
diaoivs and disineeeporsse ueid 60
p.sy. IN the .sansr preserieed oy hs: