OCR Text |
Show -5- provided further that the said California Development Company will execute and deliver to the said Andrade at the same time an agreement on its part that it will, at the request and option of the said Andrade, undertake to sell, without expense to him and for his benefit, such amounts of the stock and land scrip of said Company as may belong to said Andrade as he may from time to time designate, said stock and land scrip of said Andrade to be listed with the stock and land scrip of the said California Development Company and sold at the same price, but the said Andrade shall not be entitled to demand that more than twenty-five per cent of the securities sold by the California Development Company as aforesaid shall be of those belonging to said Andrade, unless the cash returns from such sales shall be less than Twelve Hundred ($1,200) Dollars in any one month, in which case the first sales during any such month to the amount of Three Hundred ($300) Dollars shall be of the stock and land scrip belonging to said company and shall be retained by said company; and provided further that on the delivery of the deed to the said One Hundred Thousand (100,000) acres, the California Development Company shall deliver to Ryland B. Wallace, as trustee, and have transferred to him on its books Two Thousand (2,000) shares of the capital stock of said Company, which stock shall become the property of the said Andrade on the 1st day of May, 1900, and be transferred and delivered to him by the said Trustee unless the said California Development Company shall have completed its main canal from Hanlon to the Salton River on or before that time, or shall produce evidence satisfactory to said Ryland B. Wallace that it has in its possession a sufficient sum for the construction or completion of said canal which may be legally applicable |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |