a flouring mill and are erecting an artificial ice and cold storage plant in Mount Vernon, Ohio, and expect to conduct the business of a flouring mill, the manufacture and sale of artificial ice, and a cold storage plant, and, Obtaining a line of credit. Whereas, said parties have already invested therein about $12,000.00, and it will be required and become necessary to complete said artificial ice and cold storage plant, to obtain a line of credit for about the sum of $10,000.00, and they are desirous of borrowing said sum, or as much thereof as may be necessary to complete said plant. Obligation of sureties. Now, therefore, said first parties, sign as security for said The and agree to Company to such persons or banks as loans may or can be made from, for said company, for sums not to exceed $10,000.00 in the aggregate, and continue as such security and carry said loan for a period of not to exceed two years, upon the following terms: First. Said Satisfaction as to investments. and are to satisfy said first parties that they have already invested the sum of $12,000.00 in said business, and that said business is free from indebtedness. Sureties elected directors. Second. Said second parties are to elect said first parties directors of said The Company, they two with two of said to constitute the board of directors of said company, and place their stock in said company in the hands of a trustee to be voted by said trustee for the re-election of said first parties as directors of said company for and until all the loans upon which first parties are security, are paid and satisfied in full. First lien on corporate property. Third. First parties are to be given a first lien upon all the property, both real and personal, of said The Company as security to indemnify them from any and all liability incurred by them on account of their becoming security for said company, or stockholders therein. Guaranty of individual stockholders. Fourth. In the event of the property of the said The Company, not being sufficient to pay any and all of the indebted ness, upon which said first parties have become liable as security therefor under this agreement, then —, one of second parties to this agreement, agrees that she will pay any of said liabilities that said property of said The Company is not sufficient to pay, and save and protect said first parties from any liability by reason of becoming security as aforesaid for said The Company. agree that they will give their Company until any and services to the work of said The all liabilities upon which said first parties have, or may hereafter become security for said The Company shall be paid and charged in full, or said first parties released therefrom, and that they will not make a charge against said The Company for said work, or draw therefrom to exceed $15.00 per week, each, for said services until they and all loans upon which first parties are liable, are paid in full. Compensation of sureties. Sixth. Said second parties agree to pay said first parties as a consideration for becoming security for them as aforesaid, in addition to paying the interest upon said loans, the sum of $1,500.00. Sureties control of corporation. and Seventh. It is understood and agreed that for and during the time said first parties are liable as security for The Company, upon any of said obligations, they are to have control of said company and the services of —, and upon the payment of said loans, and a release and discharge of first parties from any and all of said liabilities, then said first parties agree to turn over to said The Company and said therein, -, all control of said property and all rights or interest that they may have therein. In Witness Whereof, the parties have hereunto set their hands and seals the day and year above set forth. (See Dolle v. Cassell, 135 Fed. 52.) Form 3238. Agreement to Advance Money on Corporate Improvement Notes. Agreement made this day of 19, between the Metropolitan Street Railway Company, party of the first part (hereinafter called the "Metropolitan Company"), and the New York City Railway Company, party of the second part (hereinafter called the "City Company"): Preamble-Existing conditions and purpose. Whereas, the parties entered into a certain agreement of lease, dated the day of, 19-, under which the Metropolitan Company leased to the City Company for the term of nine hundred and ninety-nine years all its lines of street surface. railroad owned and leased on certain terms therein more particularly stated, in which it was provided that the City Company should furnish the Metropolitan Company the sum of $23,000,000.00 for the purposes therein named, and further provided that if, after the expenditure of such part of said sum of $23,000,000.00 so to be paid as should be available for additional equipment, improvements, and extensions of the Metropolitan Company, it should be deemed expedient by the City Company to extend the lines of railroad demised by said lease or the lines of railroad of any subsidiary company (as therein defined), or to construct any branches of any such lines, or to provide any additional and increased equipment for, or to make any change in motive power upon, or any radical change of construction, location, or character of, any such lines, then such expenditures should be provided for by the issue of securities. of the Metropolitan Company in accordance with said agreement of lease; and whereas, the $23,000,000.00 so to be paid under said lease has been paid by the City Company to the Metropolitan Company, and no part thereof is available for additional equipment, improvements, and extensions, and certain other advances have been made and are to be made to or for the Metropolitan Company, for which and to provide for certain other indebtedness the Metropolitan Company is likewise obligated to issue its securities under the terms of the lease above described; and whereas, the Metropolitan Company and the City Company also entered into agreements dated, 19, and 19. providing further terms for the payment of said sum of $23,000,000.00 payable under said lease, and all the conditions of said agreements have been fully carried out and the accounts between the two companies have been stated and approved: Advancement by City Company. Now, therefore, in consideration of the premises and the mutual covenants of the parties, it is agreed: The City Company shall, as and when required, on reasonable notice, and in any event before 19—, furnish the Metropolitan Company eight million dollars in cash. Notes issued by Metropolitan Company. The Metropolitan Company shall forthwith issue and deliver to the Metropolitan Securities Company or its order its threeyear five per cent. improvement notes to the face amount of $8,000,000.00. Said notes shall mature -, 19, and shall bear interest from, 19-, at the rate of five per cent. per annum, payable semi-annually on the first days of January and July in each year (with the option to the holder to declare the principal due on default in any payment of interest), and shall be payable to the Mercantile Trust Company, or bearer, as the City Company may require. Securities furnished. For the security of said notes the Metropolitan Company assigns, transfers, and sets over to the Securities Company all claims, notes, and accounts of every kind, nature, and description which the Metropolitan Company now has and in the future may have against any of its subsidiary companies. The Metropolitan Company shall, on the reasonable demand of said Securities Company and the City Company, obtain obligations in such form as may be mutually agreed upon representing such claims, notes, and accounts, and deliver the same to the Securities Company or its nominees as additional security for said improvement notes issued in accordance with this agreement and the Metropolitan Company shall, from time to time, for its said improvement notes, at the request of the City Company, substitute "collateral improvement notes" of the same terms and amounts and secured by such collateral. Subsidiary companies. Subsidiary companies under the terms of this agreement shall be construed to mean such companies as are leased to or operated by any of the parties hereto, or of which the majority of the capital stock is owned or held at the date of this agreement by the parties hereto or said Securities Company. Pledging and hypothecating securities. Said Securities Company shall have the right to pledge and hypothecate said improvement notes of the Metropolitan Company, accompanied by all the collateral therefor delivered hereunder, and to allow the pledge and hypothecation of the same for obligations of the Interborough-Metropolitan Company issued for the purpose of raising moneys to be advanced to said Securities Company, such pledge and hypothecation to be in such amounts and on such terms as the Interborough-Metropolitan Company in its discretion may see fit. 144.) Testimonium clause. (Construed in case of Joline v. Metropolitan Securities Co., 164 Fed. No. , Form 3239. Equipment Note by Receiver. -, Receiver of Traction Company of Indiana 19—, as receiver of the Due $1000.00 19-. On Traction Company of Indiana, for value received, promises to pay to bearer the sum of one thousand dollars ($1000) in gold coin of the United States of America, of or equal to the present standard of weight and fineness, at the office of The- National Bank of Indianapolis, Indiana, with interest thereon from -, 19—, until paid, at the rate of six per cent. per annum, payable 19—, and thereafter quarterly in like gold coin at said bank on the presentation and surrender of the respective coupons for such interest thereto attached as they severally mature. Description of note as one of a series. This note is one of a series of notes known as the Indianapolis Northern Series, aggregating one hundred fifty-two thousand dollars ($152,000.00), one hundred and forty thousand dollars |