The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1922-03-10

privilege to use any and all of the pat
ents, processes, methods and designs
which have been acquired and may be |
transferred or assigned to purchaser |
of Nitrate Plant No. 2 by the United
States, together with the sulphuric |
acid units now in storage on the prem |
Uses.
(b) All of the property constituting
Nitrate Plant No. l Gas officially
known and designated), including
lands, power plants, buildings, mater
ial, machinery, fixtures, equipment,
apparatus, appurtenances, tools, and
supplies, and the right, license and
privilege to use any and all of the
patents, processes, methods and de-
signs which have been acquired and
may be transferred to purchaser OF
Nitrate Plant No. / by the United
States, but the Company shall not be
obligated to operate Nitrate Plant No.
/ as an air nitrogen fxation plant.
(cl All of the property constituting
the Waco Quarry Gas officially known
and designated), including rights-of-
way and buildings, material, quarry
tracks, machinery, railroad tracks, APP
puEltHd1NtSJ lOOlo ubuppllSos
(d) All Of the property constituting
the steam power plant, built and own
ed by the Government at Gorgas,
Alabama, on the Warrior River, in
Guiding lands, rights-of-way, buildings,
machinery, material, fixtures, apparat-
US, appurtenances, tools and supplies,
and the transmission line from the
Gorgas steam plant to Nitrate Plant
No! 2 at Muscle Shoals, and all other
transmission lines belonging to the
United States and connected with any
Of the aforesaid Government properties.
The United States shall acquire all
necessary easements or titles for
right of-way lands along all transmits
sion lines, and convey same to the
Company, and the United States shall
acquire the title to the land and site
occupied by the said steam plant and
all Government buildings and other
Government structures at the Gorgas
Plant, which will be conveyed to the
Company.
~. AS the purchase price for the
foregoing plants and properties to be
conveyed to the Company by the Unit
ed States, the Company will pay to the
United States five million dollars ($5,-
000,000) in five installments as fol-
lows: One million dollars Isl, 900, 000)
upon the acceptance of. this offer, and
one million dollars Isl .000,000) annu-
ally thereafter until the purchase price
is fully paid, with interest at the rate
Of five per cent per annum on deferred
payments, with the privilege of antic-
ipating any or all such payments, pos
session to be delivered upon payment
of the first of said installments, and
deeds of conveyance to be delivered
when full payment for said property
has been made.
10. This proposal contemplates and
| it is agreed that the purchase price
for the property aforesaid shall not be
diminished by reason of depreciation
| due to use or wear of buildings, ma
chinery and equipment or to the ac-
ton of the elements, nor shall any
claim be made for losses in or dimin-
ution of quantity of tools and supplies
due to upkeep and maintenance during
| the. period between the date hereof
and the date of delivery of possession
of said property; it being further I'M
derstood that no inventory of the
property need be taken, but that due
care will be exercised by the United
States in preserving and safeguarding
the aforesaid real and personal prop
erty intact until possession thereof
passes to the Company. If any part
or parts of the aforesaid plants neces-
sary for preparation Of same have
been removed by the United States,
said part or parts shall be returned
when possession of said plants passes
to the Company. Deeds of conveyance
of real property shall warrant the til
tie to be good and unencumbered.
IA. The Company agrees to operate
Nitrate Plant No. 2 at the apprOXl-
mate present annual capacity of its
machinery and equipment in the pro-
duction of nitrogen and other fertiliz-
err compounds (said capacity being
equal to approximately one hundred
ten thousand 110,000) tons of am
monium nitrate per annum) through
out the lease period, except as it may
be prevented by strikes, accidents,
fires or other causes beyond its control
and further agrees:
(a) To determine by research whe-
Their by means of electric furnace
methods and industrial chemistry
there may be produced on a CONNER
cial scale fertilizer compounds OF
higher grade and at lower prices than
fertilizer-using farmers have in the
past been able to obtain, and to deter
mine whether in broad way the APP
plication Of electricity and industrial
chemistry may accomplish for the ag-
ricultural industry of the country what
they have economically accomplished
for other industries.
(b) To maintain Nitrate Plant No.
2 in its present state of readiness or
its equivalent, for immediate opera
tion, in the manufacture of materials
necessary in time of war for the pro-
duction of explosives.
Is. In order that the farmers may
be supplied with fertilizers at fair
prices and without excessive profits,
the Company agrees that the maxi
mum net profit which it shall make in
the manufacture and sale Of fertilizer
products at Nitrate Plant No. 2 shall
not exceed eight per cent Of the ac-
tual annual cost of production there
of. In order that this provision may
d H., ;,J tbo -