Side Lights on the Ohio Company of Associates

Side Lights on the Ohio Company of Associates

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ...without an heavy expence to the Company.--The mode of payment we propose is half a million of dollars when the contract is executed; another half million when the tract as discribed is surveyed by the proper Officer of the United States; and the remainder is six equal payments computed from the date of the second payment.--The lands assigned for the establishment of an University to be nearly as possible the Center of the first million and half Acres we shall pay for, for to fix it in the center of the proposed purchase might too long defer the establishment.--When the second payment shall be made the purchasers shall receive a deed for as great a quantity of land as a million of dollars will pay for at the price agreed on--after which we will agree not to receive any further deeds for any of the lands purchased, only as such period and on such conditions as may be agreed on between the board and the purchasers.--As to the security which the act says shall be good be and sufficient we are unable to determin what those terms may mean in the contemplation of Congress or of your honrable board.--We shall therefore only observe, that our private fortunes and that of most of our associates be embarked in the support of the purchase it is not possible for us to offer any adiquate security, but that of the land itself as is usual in great land purchases.--We will agree to regulate so to regulate the contract, that we shall never be entitled to a right of entry or occupancy but on lands actually paid for, nor receive any deed till our payments amount to a million of dollars, and then only in proportion to such payments. The advance we shall always be under without any formal deed, together with the improvements we made on the lands will we...
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Product details

  • Paperback
  • 189 x 246 x 3mm | 122g
  • United States
  • English
  • black & white illustrations
  • 1236942523
  • 9781236942524