Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-02-10
WHY h. c. FR|Ck WILL
ASK AID OF THE COURTS.
THE IRONCLAD AGREEMENT
AMONG STOCKHOLDERS IN THE
CARNEGIE COMPANIES
PROVIDES MANNER OF SELLING
WHO MAY RETIRE FROM
THE COMPANY.
Shares in the Several Companies
That are Combined Under the
Carnegie Steel Company and Con-
tOlled by 1t.

- a., Q IDLY - o
Post tomorrow will publish the fol-
lowing:
When the case of H. c.. Prick against
the Carnegie Company is heard in
court, the document, of which this is
a true copy, will be one of the most
important and interesting features of
the case. 1t is a supplement to and
really a part of the famous 'ironclad."
There is a singular, fateful connection
between the two papers. Every part
ner must sign the ''ironclad" before he
is really a partner. The document is
designated '"the agreement of sale"
The last official act of a retiring part
ner is. to attach his signature to it in
the presence of the company's notary.
This is the agreement of sale in form
and complete:
This agreement, taking effect by
and between the Carnegie Bros. &
Company, limited, and Carnegie,
Phipps & Company, limited, hereinaf-
ter styled the association; and (name
of retiring partner) all of Pennsylva-
MIA.
THE said (name of retiring partner)
for and in consideration of the cove
pants and agreements hereinafter men
toned, to be kept, done and performed
by the said (retiring partner) associa-
ton, and for and in consideration fur
Their of a cash payment this day made
on account of this agreement, as evil
denced by certain receipt vouchers OF
even date with the signing hereof;
does now covenant and agree, for him
self, his heirs, executors and assigns,
to sell on demand as provided herein
after to assign, set over and transfer
in such manner and form as may be
deemed necessary, or advised by u
sci to said associations, or to either OF
them. or to such person or persons as
they shall designate:
"All and singular the interests held
by him, the said (retiring partner) in
the following named associations and
companies, to wit:
"Of the paid up capital OF
Carnegie Bros. & Company, limited,
number of shares. /.
Carnegie, Phipps & Company, lin
tied.
III. C. Prick Coke Company.
keystone Bridge Company.
Union Supply Company, limited.
"Youghiogheny Railroad Company,
limited.
"Youghiogheny Water Company.
Mount Pleasant Water Company,
together with all undivided or surplus
nroits in any way applicable thereto
at date of (sale Of retiring partner)
| and all dividends declared on or after
the same date.
ION the part of the said associations
it is agreed:
.aTo account to the said (retiring
p~artner) for the full book value OF the
said interests hereinbefore mentioned
fat the date of retirement) and after
deducting from their aggregated value
as aforesaid, such charges and claims
as may properly and lawfully appear
in their account with him to pay the
balance remaining in cash or notes,
as provided in a certain agreement
dated January 10, 1887, and further
upon the establishment OF the book
value of said interests at time Of re-
tirement, to make up q statement OF
account showing the balance due the
said partner (retiring p%artner), n
so soon thereafter as the parties in in
terest may be able to confer to make
settlement thereof as before provided.
at is further understood and agreed
that this agreement is TO be considered
as a part and supplemental to certain
like agreements dated January 10, 1887,
currently known as the "lronclad'
agreements the one between the part
ners composing the association OF the
Carnegie Bros. & Company limited,
and the other between the partners
composing the association Of Carnegie
Phipps & Company, limited. and is
made in accordance Herewith and
and subject to all the provisions there
Of.
1T is further distinctly understood
and agreed that this agreement shall
have the same effect and be fully con-
sldered an absolute sale and trans
fer beyond recall by said (retiring
partner to such assign as the said as
sociations may elect, of all the inter
terests covered hereby, or mentioned
herein, conditioned only upon the pay
ment hereafter. as provided and here
inbefore by the said association Of the
balance due thereon, the sole intent
and ultimate purpose Of this agree
A