Article of an agreement made this 24th. day of February 1797
Between Moses Austin of the County of Wythe and State of
Virginia of the one part, and William Shreve of Frederick County and
State of Maryland of the other part, — Whereas the said Moses
Austin did on the 26th. day of January last past Obtain a grant
of land from the Commandant of St Genevieve in the Province of
Louisiana for four Leags Squair including the Lead and Iron ore
Mines Water Coarses etc; To be Confurmed to him the Said Austin
in Three Years from the Commencement of the Lead works, from
the Commandent of the above mentioned, Provided he Execute the
Sd. Business,—And Whereas the above mentioned Austin hath
Agreed this day as the Acting partner of Moses Austin and Compy.
Consisting of Chevaler Pierre Charles De. Hault De Lassus of
New Burben, Don Frances Valle Esqr. Commandant of St. Gennevive,
and John Rice Jones of Kaskaskia, for himself and Compy. to Grant
Confurm and Make over, unto the Sd. William Shreve and Compy.
consisting of the parties above mentioned of Ten Thousand Acres
of land part of the above Sd. Grant for the purpose of Arecting a
Furnace for makeing Iron Including the Iron ore Bank water
Courses seats etc to be laid off to the best advantage for the above
said Business,—To be concluded and Managed and Consist of a
Capatal as hereinafter mention, that is to employ a Capatal of Nine
Thousand Dollars, five Thousand of which Dollars is to be Delivered
in Merchandize at Louisiana at Cost and Charges, and the Balance
in Necessary Emplements for the use of said work at the discression
of said Shreve—It is agreed by said parties that the said Shreve
shall take the management of said Business as an Acting partner,
which is to go under the furm of William Shreve and Company, for
which personal service and knowledge of said business, the said
Moses Austin for himself and Company doth agree that he the said
Shreve shall have a sallary of one Thousand Dollars pr Year which
sum the said Company is to be Charged with, and also to find said
Shreve and his family in provision etc for and during the time he
Continues to Act as Manager, It is further agreed by Sd. Parties
that this partnership is to be continued for Ten Years Conditionally
that is at the End of three Years from the Commencement of said
partnership Either party shall be at Liberty to sell his Interest in
said partnership, as also at the End of six and Eight years,—But
at the End of the before-mentioned time the Ten Years there shall
be a Dividend of the hole personal and real property, Agreeable
to the parts held,—Except a further time shall then be agreed on
by a Majority of said parties,—
The said Shreve agrees that he will have a Regular set of Book
kept of the Transactions of said Business during his continuance
as Manager for which purpose there is to be a Clark kept at the
Expence of said Compy. and further that the said Books must be
Balanced and stock taken at the End of Three years, as also at the
End of every Two years after, and further that nether party or
partner shall be at liberty to draw any thing out of stock for Three
years from the Commencement of said Business.—It is agreed that
the above said capatal shall be Devided in six equal shears, each
shear holding a voat in regulateing the General Plans of said
Concern,—The Sd. Shreve agrees to procure the above sd.
Merchantdize and Necessary Empliments as above for himself and
Compy. at their Expence,—The said Shreve agrees to take four of
the said Shears of which he shall be at Liberty to take in one or
more partners to take one or more of his Shaers, they subjecting
themselves and having the benefit of this agreement,—The said
Austin agrees for himself and Compy. to take Two of the said
Shears being the remainder whole shears. The said Austin and
Compy. agrees to pay and advance unto William Shreve and Compy.
Three Thousand Dollars on the arival of said Shreve with the above
said Articles in the province of Louisiana, and the sd. Shreve agrees
to pay or allow unto the said Austin five hundred Dollars as a
Consideration for the part of the Grant aforesaid and for one Tenth
or Shear of the Lead Mines Company of Louisiana, as heare after
mentioned as pr. Agreement of Moses Austin and Compy.—It is
further agreed by the before mentioned Moses Austin for himself
and Compy. to let the before mentioned William Shreve have one
Tenth of the above said Grant, with a shear or one Tenth of all
the aMoluments arising therefrom, to him the said Shreve and
his Heirs for Ever, the said Shreve to have an equal voat in
proportion to the shear he holes, in regulateing any business that
may come before said Company as pr. partnership agreement known
by the name of Moses Austin and Compy. in the provence of
Louisiana,—The sd. Shreve paying one Tenth of the stock, that is one
Tenth of Eight Thousand Dollars as pr. the agreement before
mentioned to be paid to the sd. Moses Austin and Compy. at his arivel
with the property as pr the agreement of Moses Austin and Compy.
of Louisiana
It is further agreed by said parties that nether party shall be
Interested in any other Business of a Similar kind, for and during
the Continuance of this Partnership—
It is also agreed and understood by the parties that if any lead
ore shall be Discovered with in the Ten Thousand Acres before
mentioned for the Use of the Iron Works that it shall and is Considered
the property of Moses Austin and C°. and also as Expresly
understood, that all Iron ore that may or shall be discovered in the Grant
to Moses Austin before stated shall belong to William Shreve and
C°.—It is also understood that Each partner shall be accountable
for all losses, as well as all profits to receive in proportion to the
Shears or parts he holes, and that a Division of the Profits may be
call'd for, by the partners at the End of Three, Six, and Eight
Years,—The said Shreve agrees for himself to pay to sd. Moses
Austin his proportion which will be Eighty Dollars pr. anno for
his personal Service [as] an Acting partner of Moses Austin and
Compy.-—Now to carry into Effect the foregoing agreement, Its fully
understood that After the said William Shreve has Examined the
Ground situation and Banks of Iron ore for Building said works
on, with in the forementioned Grant as well as any other in sd.
province, and given Notice to said Moses Austin his opinion whether
a Situation is Discovered that will Justify (in sd. Shreve opinion)
earring into Effect said Agreement or Not, and if it should be
found, that the situation of things will not Just [if] y the Execution of
said Agreement, Then Each and Every part of this Agreement shall
be null and void, But if a situation and sufficient Bank of Iron
ore, is Discovered and obtained in said province, to Justify earring
into Effect sd. Agreement, Then in that Case, all and every part of
this Agreement shall be considered Bincled on each of the
Contracting parties, the same as if it had been on, or with in the above said
Grant, Provided a Grant should be obtained for such Land, It is
also understood that if any Lead ore should be found in any Land
that may be Granted to said William Shreve it is to be considered
the property of Moses Austin and Company
To all the above said Agreement and Articles the said parties, do
here by bind themselves their Heirs etc unto each other, and have
here unto interchangeably set their hands and seals the Day and
Year above Written—
Moses Austin [Rubric] [s l]
Wm. Shreve [Rubric] [s l]
Witness Presant
Wm. Neelly
James Coleman Jr [Rubric]
James Neelly [Rubric]
PS In case Either of the above signed should die before they
arive in the province of Louisiana, this aGreement shall be nul and
void any thing there in this to the Contrary notwithstanding—
Moses Austin [Rubric]
Wm. Sheeve [Rubric]
Test
Wm. Neelly
James Coleman Jr [Rubric]
James Neelly [Rubric]