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San Jac Descendant at Feb 11, 2014 10:26 PM

Page 5

the whole capital.

It therefore became necessary, or expredient,that provision
should be made for such further extension of the Capital
Pro Rata as might be necessary to meet any demand
that might grow out of your operations to the period
when this will reach, or in the prosecution of your
plans, already authorized and projected.

The resolution authorizes this extension, of Capital,
and therefore binds the parties to answer these calls
respectively, whenever they are made upon them, until
some further determination is had by the Company,
after they shall have received your Report in reply
to this proceeding, which call for some information
from you. viz: Say the Lands acquired, costs, payment
made & due, thereon. Also, Statement of all other
property, owned by the association, with its estimated
value. Also, your pending responsibilities, in behalf
of the association, all in order that the Company may
understand, how far they have gone, and what deficit
of Capital is to be provided. We also want your
opinion as regards the best plan to be adopted in reference
to each branch of the Company's interest, and which
if any, may be discontinued, with advantage.

The Capital being paid, or at least appropriated,
it is well for us to know what we have. It is
now supposed you will be able to make out these
Statements with Entire, Exactness, but you can, no
doubt, approximate near enough for all essential
purposes of the Company, and this will be very desirea-
ble if not indispensably necessary for the Company
to know. Then, the course you may recommend
in reference to the Town Site & Lots, Sale of Lands
acquired, or whether best to hold, Merchandise
operations, and whether best to continue, or not
Vessels [?] not omitting your observations in
relation to the property acquired by purchases from you.

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