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being made by said Morgan: Whereupon: on motion it
was resolved. That the Shareholders approve & assume
the said Credit as their own, in case it should be used
by said Morgan.

The Secretary further reports that, the credit
he has used in New Orleans as Treasurer of the
Association he had paid to Mrs. Morgan, by order of
Mr. Morgan, the Interest due Quarterly in the
Company's purchase of Mr. Morgan's interests.
Which was on motion approved.

The Secretary then presents the following, exhibit
of the funds of the association, drawn from the
Books & Records of the Company.

Total Amount of Capital 410 Shares @ 100.00 $41,000.00
Amt. called in & Expended, 73/[h?] % $44,530.00
Pending responsibilities of the agent in [?] 8.[h?]50.00
One Jas. Morgan on purchase exclusive of Interest 8.000.00 h 1.180.00
Exceeding the Capital this amt $180.00

From the above exhibit it appears that the Whole of the Capital
of the Association is already appropriated, and will be intirely ex-
huasted on payment of the responsibilities not yet matured, and
that there will remain due to the Land Treasurer One Hundred &
Eighty Dollars, or thereabouts: And further that the Land Exhibited
Embraces only such of Mr. Morgan: Questions as are known to the
Secretary & is exclusive of the new Credit of $2000 named above
and of said Morgan's: Salary from November last and that it
is in his opinion Essential to provide a further Capital to
merit the $1000 __ and such other sums as may be
required to meet the responsibilities already incurred, & to
be incurred hereafter by Mr. Morgan.

There for resolves, (provided two third's of the Shareholders
concur the [?]0 That the Capital Stock of this Association be
Extended, pro rata, to such sum or amount as may be sufficient
to cover the above responsibilities as it may from time to time become
necessary to meet the same. Resolved, that in order to
obtain a Statement of the property & interests again