Moses Austin and William Shreve to Unknown , 02-24-1797

Summary: Moses Austin and William Shreve, of Frederick County, Md. Shreve to construct and manage an iron furnace on Austin's grant at Ste. Genevieve. Commerce.

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]


Wm. Neelly

James Coleman Jr [Rubric]

James Neelly [Rubric]