UTSA James Morgan Papers

James Morgan Esq New Orleans Six Elizabeth Lane

[Reversed and written below address]

[this?] 26 April 1835

of carrying into effect the objects of the association and hereby [seconds?] as such with the author ity & subject to the conditions in the next article specific, & James Treat is hereby recognized acting manager, secretary treasurer of the association with power & duties as in a subsequent article specified

Seventh There shall continue to be a board of man agers consisting of three persons as above to be appointed by a majority of the subscribers here to or their assigns at a meeting of the Shareholders when the present managers shall resign or as often as a vacancy shall occur which man agers or a majority of them shall have proven to call for the payment of the balance due from the several subscribers hereto on their respective shares in conformity with the provision in Article 5th at such times and such manner as the same shall be required & shall have authority to conduct & manage the affairs & operations of the association To give instructions to the present general agent & all other agents that may hereafter be appointed by the association which instructions shall be binding upon such agents until a decision of the association to the contrary. And they may enlarge or restrict the authority of such agent or agent as they may deem expedient.

Eighth. That James Morgan one of the subscribers hereto possessing the confidence of all the parties he to continue to act as the General Agent of the Company in Texas is hereby authorized to carry into effect all projects already con templated & such further operations as the interest of the company shall be deemed to require from time to time according to his own judgement exercising such powers a discretion as he may be charged with by the board of managers, but subject to their direction in all present [?] operations & subject to the general authority of the association to modify restrict or supersede his powers as

such agent to appoint a co-agent or agents or to substitute another in his place.

Ninth. The Board of Managers shall be responsible to the shareholders only for the faithful application of the funds to the purposes herein expressed & manage ment of the affairs of the Company according to their judgement & are hereby authorized to em ploy said funds themselves or through the gen eral agent aforesaid or his successor while he shall continue to enjoy their confidence

Tenth That the acting managers, Secretary & Treasurer shall consult his colleagues in all matters he may deem of sufficient importance, and the Board of Managers shall be bound on the application of any shareholder to call all the share holders together for the purpose of consulting upon the specified matters & shal at such meeting they shall report the condition & prospects of the company to the shareholders, or so far as information shall be desired by any shareholder present.

Eleventh. Due notice being given to all the shareholders of the time & place of meeting, a majority of the shareholders shall be competent to transact business and to regulate the affairs of the Company in all respects not inconsistent with these articles. I witness whereof the said parties have hereunto suscribed set their seals the day & year first above written. In presence of Frederick Platt

Samuel Swartwout F.P. John S. Bartlett F.P. Joseph S Avenzano F.P. Walter Mead F.P. J. Morgan F.P. James Treat F.P. Jno. P. Austin F.P. Wm Dall [by?] Jno. P. Austin F.P. Lorenzo de Zavala By his Atty. James Treat F.P.

Twelfth. It further agreed that the authority to supersede the present General Agent and substitute another in his place as specified in article 8th belongs solely to the shareholders anot to the managers & shall not be exercised without just cause as inefficient or improper management & a decision of two thirds of the shareholders to that effect after due no tice to said Morgan of the cause alleged & after re ceiving & considering his answers & explanations in regard therto on sufficient time given him to make such answers & explanations

J. Morgan F.P.

Extract from processing of Meeting held 15th Oct. 1835

Resolution 13th Resolved, on motion, that, Mr James Morgan's proposals to sell to the association his entire individual interests in Texas both real and personal, or any part thereof, that the association think proper to purchase be together with the Schedule of same submitted to Stephen Sicard John P Austin, James Treat as a committee to confer, consider & report thereon, at the next meeting

-Extract from Meeting held Oct 17th

The Committee appointed at the last meeting to consider & report to the present meeting their opinion of the proposition, made to the association by James Morgan to sell all his property in Texas to the association, presented their written report which was read & Submitted to the meeting for their considera tion, after considerable discussion it was on Motion Resolved, that the association purchase all the property held by the Said James Morgan in Texas (Independent of his interests in this association) and contained in his Proposals & Schedule thereto annexed and in the Report of the Committee in the Sum of Eight Thousand Dollars Say:________________________________$ 8,000 on the following conditions to wit:

The Said Morgan Guaranteed a good & perfect Title of the two leagues of Land, and the two town lots mentioned in his Schedule, and is to receive from the Association, the Said consideration of Eight__ Thousand Dollars at any time the same or any part thereof may be tendered to him by the Association previous to the 1st day of November 1841 on which day he shall have a right to demand the said amount, or any part thereof which may then remain unpaid, subject to the payment of 7 % of ac. interest per annum, on said Sum.