The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1882-02-16
THE NEW CAPITOL.
Full Text OF the Sub.Coatract
Between N. SchneII and
Others.

Memorandum of agreement in dupli-
cate, made and entered into this, 31st day
of January, A. D., 1882, by and between
Matthias Schnell, of the city and county
Of Rock Island and the state of Illinois,
party of the first part, and Charles B.
Farwell, John V. Farwell, Abner Taylor
and Amos c. Babcnck, of the same state,
of the second part.
Hitnesseth, That whereas the said
Matthias Schnell has made and entered
into a certain contract with the capitol
building commissioners of the state of
Texas, Joseph Lee and n L. Norton
for in behalf of the state of Texas for
the building of new state house for the
said state Of Texas; and,
WHEREAS, The said Matthias Schnell
is unable to perform said contract
without the aid and assistance
of capitalists, and, whereas, the above
named second parties are DESTROYS of
furnishing the necessary means and aid
to properly carry out the requirements
of said contract.
1t is hereby agreed by and between
the parties hereto, that the said Matthias
Schnell shall assign and set over, and by
these presents does assign and set over
to the parties of the second part, an I'M
divided three-fourths l3-4) interest in said
contract, for the purpose that the said
parties of the second part
may share in any and all
the profits that may arise
from same, the same as the party of the
first part, as their interest may appear,
which is hereby agreed to be equal. And
it is understood and agreed by and be-
tween the parties hereto that the parties
of the second part are to furnish whatev-
er money may be needed, or necessary,
for the proper construction of said state
house, or for the execution of said con-
tract, as the same may be required frem
time to time. II is further agreed and
understood by and between the parties
hereto, that the said Matthias Schnell
shall have the management and superin-
tendence of the building and con-
struction of said state house from the
commencement to its completion sub
iect to the direction and control of the
majority in interest herein at salary of
five thousand dollars per anuum, paya-
BILE monthly. And il is further agreed
and understood, and the parties of the
second part hereby acknowledge, that
there is now due and towing said Mat
thjas Schnell the sum of thirteen thou
sand dollars, which amount, with six
per cent. interest per annum, shall be
paid whenever the sum of fifty thousand
dollars shall have been realized by the
sale of lands named in said contract
And il is further agreed ard under
stood that after the said thirteen thousand
dollars is paid as provided, that the said
parties of the second part are to have all
the remaining profits until all the
money advanced as above stipulated
shall be paid, with six per cent. interest
thereon per annum, from the time said
money is advanced, and all the other
profits are to be divided as the interest of
the parties appear under the contract, or
TO their heirs or assigns. 1t is further
agreed by and between the parties here
TO, that Amos c. Babcock, one of the
parties of the second part, shall be the
trustee for the parties herein named of
each part TO act as, and be the trustee
to receive, the title to be
conveyed in pursuance of the contract
between the state of Texas and the said
Matthias Schnell and receipt for the
same to the proper officers of said state,
and do all other things required of said
Schnell pertaining to the conveyance of
tie lands under said contract with the
state of Texas or capitol building COM
missioners, and to hold the same and
to make such conveyance or sales of said
lands or any portion thereof from time
TO time as the parties hereto may direct.
And it is further agreed and understood
that the majority in interest under this
contract shall at all times have the c. n
troll of the business in all its
details and make such arrangements
hereafter as to its management as may
be to the best interest of parties herein
concerned, and TO give such directions
from time to time to the superintendent
or manager as they may deem best to car
~ said building TO completion with the
best economy, nothing in this contract
heretofore stipulated to the contrary
Notwithstanding And il is further
agreed that the said superintendent
shall be personally responsible to the
parties of the second part for any loss or
damages Sustained caused or sustained
by reason of his neglect or mistake in
prosecution of his duties as such super
intendent, willfully done.
And it is hereby UNDERSTOOD and agreed
that this agreement shall be binding and
operative from the date of its approval
hy the governor of Texas and the heads
of departments. Witness our hands and
seals, this thirty first day of January, A.
ID. 1881, (signed) Matthias Schnell, Amos
C. Babcock, Charles B. Farwell, Abner,
Taylor and John V. Farwell.