The Alaska daily empire., 1920-12-01

ing it fully, explaining each para S65 900 is to be subscribed, only $5O, 1000 in stock will be issued there for, $15,000 being required to pur- chase the Femmer and Ritter dock site now under option. Thie means, he stated, that it would require a subscription of $130 in order to en- title the subscriber to hold a $100 stock certificate.
 Many Sign Contract
 At the conclusion of Judge Wicker sham's talk, subscription lists con taining the contract were placed in charge of John Reck, Guy McNaugh- ton, J. J Connors and w. George Johnson The interest of those pres ent was evidenced by the fact that almost every person either pledged themselves for a definite sum or to subscribe within the near future. Under the terms of the contract, 20 per cent of the amount subscribed by each person is required to be paid on or before December 15, toI D. M. Iluolee, WllH 10 per cent payable on the 18th of each following month until the am ount pledged is paid in full.
 Terms of Contract
 The contract providing for the sub scription of $50,000 for stock in the company and $15,OO0 for the pur. chase of the Femmer and Ritter dock site follows in full
 We, the undersigned citizens of the City of Juneau, Alaska, do here by severally agree, one with the other, and with the B. M. Behrends Bank of Juneau as Trustee, and with certain capitalists of Boston and New corporation to build and operate a cold storage plant on the waterfront of the City of Juneau, which plant shall cost not less than $400000 of which total amount said capitalists of Boston and New York agree to subscribe $350000, if the citizens of Juneau shall subscribe for the sum of $5O,O0O and furnish the site therefor at a cost of $15,000, to ac- cept the said proposal.
 Now, these said subscribers having severally accepted the said offer, do hereby severally subscribe for the capital stock in the said proposed corporation in the respective sums set opposite to their respective names in this list herein below stated; but we understand and agree that of the total $65, 900 aforesaid the sum of $15,000 is to be used by our trustee to pay for said site and that we do not get stock for that proportion. but the balance of our subscription shall be applied by our trustee toI the purchase of capital stock of said corporation at the same rate as is l paid by the Eastern stockholders;
 awe do agree to pay 20 per cent us' he sum so severally, subscribed for by us below to the said trustee, the B. M. Behrends Bank, on or be- fore December 15, 1920, and to pay the balance in eight equal install ments on or before the 18th day of each month thereafter until the whole is paid, the total sum thereof to be held by said trustee and paid as follows: No part thereof shall be paid by said trustee until it is ad- vised and satisfied that the persons described in the proposal and herein as capitalists of Boston and New York have organized a corporation under the laws of some State of the United States or Alaska with capital stock of at least $4OO,00O and have in good faith taken the sub scription therein for $350,O00 Of the said capital stock upon the same basis in law that these subscribers are severally allowed to purchase their stock in the said $50000 there of As soon as the Eastern capital ists have so organized the said cor poration and subscribed the capital stock as aforesaid. and are ready to begin construction on said cold storage plant in Juneau, the trustee for these subscribers is authorized to purchase and pay for stock in proportion as said Eastern capital ists and subscribers purchase and pay therefor for payment as construc- tion progresses and to pay to Fem mer and Ritter on the said purchase price of said site for the plant in Juneau in the same proportion, and the said trustee is authorized to con tinue to pay out the monies received by it hereunder on subscription in proportion as aforesaid, until the said