| Know all men, by these presents, that
whereas upon the twenty first day of August 1860 G. W. Cochran S. W.
Witmer and H. H. Edwards entered into a contract as the regularly
appointed and legally authorized agents of the Eastern Texas Rail Road
Company with Charles Moran Daniel E. Moran and Theodore T Moran
constituting the firm of Moran Brothers of the City and State of New
York whereby the same Moran Brothers become bound according to the
terms of said contract to furnish and deliver Twelve thousand and five
hundred tons of Iron Rails, for the said Eastern Texas Rail Road as
specified in said contract. |
| And whereas by and on order of an act of
the Legislature of the State of Texas, passed the thirteenth day of
August 1856 and the amendments to said act and also by and in virtue
of the Section of an act of the Legislature of the State of Texas,
incorporating the Eastern Texas Rail Road Company approved the 10th
day of January 1860, the said Eastern Texas Rail Road Company may
become entitled to receive as a loan from the State of Texas, Six
thousand dollars in United States five percent indemnity Bonds, for
each and every mile of the Road of the Eastern Texas Rail Road which
may be constructed in accordance with said before mentioned acts of
the Legislature of the State of Texas, and whereas the terms of said
contract between the said Eastern Texas Rail Road Company, and Moran
Brothers, require the said Eastern Texas Rail Road Company to
authorize Moran Brothers, to receive from the State of Texas and apply
to the payment of the Rails delivered under said contract, all the
monies Bonds or Stock which the said Eastern Texas Rail Road Company
may become entitled to receive from the State of Texas in virtue of
the before mentioned acts of the Legislature of the State of Texas. |
|
Now therefore in consideration of the said contract, and
to secure the said Moran Brothers the delivery by the State of Texas
of all monies Bonds and Stocks, which the said Eastern Texas Rail Road
Company may become entitled to receive as aforesaid from the State of
Texas, and as a guarantee that the aforesaid monies Bonds and Stocks
shall not be applied when received to any other purpose than the
payment of Moran Brothers for the said Rail Road Iron, which they have
agreed and contracted to furnish the said Company, subject however to
this proviso, that all such balance or surplus of said monies Bonds or
Stocks as shall overpay for the Rails so furnished and that are laid
down upon any and every section of said Road received by the State of
Texas after payment for the Rails of such section, shall be held by
said Moran Brothers, in trust for and subject to the order and
control, of said Eastern Texas Rail Road Company. And the said Eastern
Texas Rail Road Company hereby assign and set over (with the exception
of the surplus reserved as aforesaid) to said Moran Brothers or its
assigns, all monies Bonds or Stocks which the said Eastern Texas Rail
Road Company may from time to time become entitled to receive from the
State of Texas for each and every mile of said Rail Road, for which
the said Moran Brothers shall furnish the Rails, in pursuance of the
contract herein before mentioned.
|
| And to enable the said Moran Brothers to
receive from the State of Texas all monies Bonds or Stocks which the
said Eastern Texas Rail Road Company may become entitled to receive
from the State of Texas, the said Eastern Texas Rail Road Company do
hereby constitute and appoint the said Charles Moran, Daniel E. Moran,
and Theodore T. Moran jointly or severally their true and lawful
attornies irrevocably for them and in their name and stead to receive
from the State of Texas all monies Bonds or Stocks which the said
Eastern Texas Rail Road Company may become entitled to receive under
the provisions of the acts before mentioned, and for that purpose to
give and execute all necessary receipt or receipts, and one or more
persons to substitute with like full power, hereby ratifying and
confirming, all that the said attornies or their substitutes shall
lawfully by virtue hereof. |
| In witness whereof the Eastern Texas Rail
Road Company has {end of document} |
|