The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1918-03-21

all credits and accepting or rejecting any
and all contracts negotiated by the CO.
partnership, in other words, that as to the
| extending Of credit on entered into con-
tracts his judgment shall be final, and
such contracts shall not be binding upon
| the cOpartnership until approved by him,
| the lines of credit shall not be extended
by the copartnership until approved by
him.
| In consideration of the foregoing pow
ers delegated to him by the said copart-
| nership, the said l.. NJ. Due agrees to
| finance the Company, so far as his ability
permits, provided that wherever he ad
vances money to said copartnership, or
arranges for credit on behalf of said CO.
, partnership. the other two members Of
said partnership, Joe Hodgins and Martin
Aakrann, agree to execute to the said l.. |
M. Due, their joint note covering two
thirds of the amount SO advanced or !
partnerships liability to the said L. M. |
Due on account thereof, and it is further |
provided that as to said sums so advance |
ed or credit so allowed by the said l.. NJ |
Due collateral shall be given by the CO. !
partnership to him in the shape Of farm |
ers' paper or agents paper (papers mean
ing notes held by the copartnership jim |
an equivalence to One Hundred Twenty |
five and no-100 (S125.00) Dollars of such |
collateral paper for each One Hundred /!
($1oD.0O Dollars so advanced and loaned |
to the said copartnership in money or
credit, as aforesaid, and it is expressly
understood and agreed that any sum or
sums so advanced to the copartnership |
is not copartnership assets, but a liability |
to the said l.. M. Due, the same as to any
other creditor of said copartnership.
1t is further agreed that whereas the
said l.. M. Due will be absent portion of |
the season of 1918, that Ed Christensen of |
Alinot, North Dakota. shall act as his
agent in passing upon said paper and con-
tracts and shall have authority to reject
approve any credit extended on con-
tracts entered into, as the agent of the
said L. M. Due, during his absence, with
the full consent Of all the partners hereto,
hereby given.
It is also provided that all profits and
losses of said copartnershp, after paying
the salary hereinbefore provided for to
the said Martin Aakrann and after pay
ing the expenses of said copartnership,
shall be divided equally between the three
partners, and that an accurate set of
books shall at all times be kept and MAIN
tanned showing all the transactions Of the
co partnership.
1t is further provided that this co-part-
nership shall continue until the second
day of December. 1918, and that thereaf-
ter may be dissolved by the express will
Of any partner at any time.
1t is further provided that no capital
has been contributed in said business by
any of the partners excepting the con-
tract with the Minnesota State Prison for
the handling of said machinery, which
contract is contributed jointly by all the
partners and that each partner agreed to
advance his pro rata share of any nee
l
mess OF the copartnershp during the
season Of 1918 if said sum is advanced by
the said L. M. Due to reimburse him as
to such pro rata share so advanced in ac-
cordance with the provisions hereof,
should the profits not be sufficient SO to
Any and all business transactions,
which may at this time and in the future
result in expenditure of money and hnan-
cial liability to the Company must be
submitted to L. M. Due as Treasurer of
Jensen, and approved by them. This will
not apply to actual travelling expense or
salary of the President or General Man
ager, when he is on the road in or for the
interest of the Company.
Dated at Minot, North Dakota this
second day of November. 1917
MARTIN AAKRANN.
L. M. DUE.
State of North Dakota, County Of Ward,
on this 10th day Of December. 1917. be-
fore me Notary Public within IN, ana ior
ed Joe Hodgins and Martin Aakrann,
known to me to be the persons named In
and who executed the foregoing instru-
ment.
ED. CHRISTENSEN,
(SEAL) Notary Public.
Ward County. North Dakota.
MIS- ny N espEes sn Of sa 1s25 eeo
On this 10th day Of January. 1918. be-
fore me a Notary Public within and for
said County and State, personally appear
ed L. M Due, known to me to be the per-
son named in the foregoing instrument
and who acknowledged to me that he ex-
ecuted the same.
JAMES BURNHAM,
(SEAL) Notary Public,
San Diego County, CAL
My commission expires November rs, 1913
CERTIFICATE OF coPARTNERSHiP
We, the undersigned, Joe Hodgins, Mar
tin Aakrann and l.. M. Due, do hereby
certify in accordance with section 6426.
Compiled Laws Of North Dakota, for 1913,
that we have formed a copartnership un-
der the firm name and style Of the North
western Distributing Company, and that
the full names Of the members OF said
partnership are Joe Hodgins, Martin AJAX
ram and L. M. Due; that the principal
place Of business Of said copartnership is
Mi.ot, Ward County. North Dakota. and
that the residence Of each OF said copart-
ners Is Minot Ward County, North Da-
kota, and that this certificate Is made for
the purpose Of fling the same with the
Clerk Of the District Court Of Ward coun-
ty, North Dakota, and publishing the
same for four successive weeks In the
Ward County Independent, published at
Minot, Ward County, North Dakota.
Dated at Minot, North Dakota. this LIST
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