The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1918-03-14


dred Fifty and no-1OO ($150.0O) Dollars
per month and his travelling expenses
when out for the copartnership.
None of the other partners shall receive
any saalry until the business increase de-
mands their active services and when
they do give their time and services to
the Company they shall receive such sal
airy as may be reasonable and may be
agreed upon between the parties hereto at
such time.
1t is further stipulated and agreed that
L. M. Due, designated as Secretary and
Treasurer of the cOpartnerShip shall have
the exclusive authority of passing upon
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.. M. Due agrees to
finance the Company, SO far as his ability
permits provided that wherever he adj
vances money to said copartnership, or
arranges for credit on behalf of said CO.
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 .ss 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. M
| 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 Gopartnership lin
five and no-1OO (S125.00) Dollars Of such
collateral paper for each One Hundred
! (s100.00) Dollars so advanced and loaned
l 49, Ill To- ~
credit, as aforesaid, and it is expressly
understood and agreed that any sum or
sums SO advanced to the copartnershlp
is not copartnership assets, but liability
! to the said l.. NJ. 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 a portion Of
the season of 1918, that Ed Christensen Of
Minot, North Dakota, shall act as his
agent in passing upon said paper and con-
tracts and shall have authority to reject
or approve any. credit extended on con-
| tracts entered into, as the agent OF the
! said l.. NJ. Due, during his absence, with
the full consent of all the partners hereto,
hereby given.
losses Of said copartnership after paying
| the salary herenbefore provided for to
; the said Martin Aakrann and after pay
I 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
essary expense money to conduct the bus
| mess of the copartnership 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
do
Any and all business transactions.
which may at this time and in the future
| result in expenditure OF money and f1nan-
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
en- he is the road in or for the
! Dated at Minot, North Dakota, this
| second day Of November. 1917.
JOE HoDGINs; ~
| L. NJ. DUE.
State Of North Dakota, County Of Ward,
| IS.
| On this 10Th day Of December, 1917, be-
| fore me Notary Public. within and for
said County and State, personally appear
| 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 Pa
My commission expires Jan. 49, 1929
State OF California, County Of San Diego.
| 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 BURNEAM,
| (SEAL) Notary Public,
San Diego County, Cal.
My commission expires November rs, 1918.
| CERTIFICATE OF coPARTNERsHlP
| 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 copartnership un-
4 der the firm name and style Of the North
4 western Distributing Company, and that
the full names Of the members OF said
partnership are Joe Hodgins, Martin AJAX