The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1892-12-10

Vi iiItit III iut ShN vi ''iV ttol
having south of Elm street ans! east o.
the main line of the st. Louis. Cap,
Girardeau & Fl. Smith Railway. anC
bounded cast by the Mississippi River
tthe right of way of the spur o. said
Rlilwav that runs 10 the river being
excepted) which lease runs for E;
period Of ten (l0) years with riahi o
renewal: and. ~sec-ni, one saw mill
plaihii.g mill. turning lathes. driving
kiln, machinery for the manufacture,
of all kinds of frame buildings. The
turning Of Pick, spade, hammer
E2rhet, shovel, fork, h3T; G>c and
other asndlca for hand tools. ALSO the
manufacture of shingles and sncl
other articles as they may find prnfita,
BILE to make whici Ii.aciIincfy. when
IN frtt operati'tn will give a stoady
! employment to from sc~ventv-tive (7j.
tc che hundred and fifty (I5O) per.
sons for ten (lO) months each year
all of which machinery uheh set and
; ready for 'lsp will he OF The value OF
twenty thousand (2O.OO0} dollars.
Now, the said Grant Lumber Com
panv agrees to give a truSt-decd OF
the lease, machinery and all Improve
ments thereon to secure thc payment
Of ten thousand 100000 dollars TO br
furnished by the said Syndicate as
follows:
The Grant Lumber Company TO is
sue one hundred 900 bond each for
the face N:.ra Ct one hundred 900
dollars, TO run for five ~ Years. or
less at the option OF the said Grant
Lumber Company. and TO bear six 81
per ccnt annual interest. saInc 10 be
paid scmI-annually. The Grant LAM
Der Company agreeing to exchange
building "h"ttr'.ti or bald buildings
for said bonds TO the amount of not
more than two thousand (2.0Cm dol
lars per year after The plant has been
in operation d"@ On year. said bonds
to lie secured by a Deed of Trust
based on the said lease and machinery
etc. with leon j. Albert as Trustee
| who shall hold. certify and issue said
! bonds as follows:
| When The said Grant Lumber Com
] pany shall deliver and place on sai'i
leased ground the tafniic: for build
ing and machinery for saw-mill. the
said boEd-holdcrs shall appoint three
(3) appraisers TO appraisc and report
10 said Trustee The true value of said
mill; and on receipt of said report
| said Trustee shall certify to and issue
bonds to The "a!ue OF one-half (l-2) OF
said machinery and building.
And rs each separate plant or
machine is hit ii; workirG order on
the leased ground it shall he appraised
| The same as aforesaid and the Trustee
! hall certify TO and isse6 bends en-
The same at the above rate.
This cbursc 10 be continued until
The saw-mill. single machine, turn
ing lathes. handle and planning mill
with its necessary steam power. and
driving kilns and everything aprer-
tanning thereto are all set and in full
operation. and the full amount CT said
bonds. to-wit: ten thousand QA,o0o)
dollars be issued.
The said Grant Lumber Compan.
binding itself not to erect. run or have
any interest in a retail store of any
kind in the City o Cape Girardeau in
connection with said manufacturing
establishment while any of said bonds
are outstanding:
Second: The members of said Syn
dictate se:erally bind themselves to
take Up, aid cash at their face value
the Number of bonds Cor which thew
respectively subscribe when certified
and issued by the said Trustee,
promptly when presented by the duly
authorized Treasurcr oi the Grant
Luhbcr Company.
Third: And it IS further stipulated
and greed by and between the Grant
Lumber Company and the said syn.
dictate tliat; first: the said plant oil
plants Shall be kcpt insured by the
said Company for two-thirds (2-3) OF
their real value for the Benefit of the
said Syndicate during the existenct
of the bonds: second: said Syndicate
shall organize by clecting from theiI
number a board ofthree (3) who shall
act rs President. Secretary and Tres
urer of the Syndicate, and have full
power to act Ter the same: third: tina,
in the event of said plant remaining
idle for a period of six (GA month!
without good cause, or; should the
semi-annuai interest on said tocds
default for duo () year. t!ien in either
one. or both of such ctntingcncle.
the officers Of the Syndicate shall chi
the Syndicate together aud the iues
ton of foreclosure of Trust-Dept
be voted on; 4 majority OF the Who'll,
number holding outstanding bond
being sufficient to order the Trustee
TO take action thereon. each BON
having one () vote; fourth: SHOULD
any misfortune ovetake the head o
the Grant Lumber Company sufficien
tn render him iucapablc of managini