DIY History | Transcribe | Building the Transcontinental Railroad | Mississippi and Missouri Railroad Company power of attorney contract for Thomas C. Durant and Henry Day, May 8, 1863

Transcribe
Translate

Mississippi and Missouri Railroad Company power of attorney contract for Thomas C. Durant and Henry Day, May 8, 1863

Page 02

and said attorneys shall apply the net residue to the payment of such sums as may become owing hereafter to said Durant by said Company during said term of time upon his contract with said Company for the construction and completion of said Railroad from Marengo to Grinnell, for so much as he shall perform on said contract during said term of time, until the sum paid is equal to the net Earnings of the Road from July 1st 1862 to January 1st 1864 as is specified in the above mentioned agreement with certain Bondholders, bearing date July 1st 1862; and if any surplus shall remain after paying said last mentioned sums in full, these said Attorneys shall pay the said surplus to the said company or its assigns.- Said Company agrees that said Attorneys shall have exclusive right and power to exercise such agency and Attorneyship as aforesaid and shall also have power and authority with the consent of the Executive Committee of said Company to sell, pledge, transfer, or delegate all and singular the agency and Attorneyship above granted and all powers, rights and benefits thereof: and also that said Company shall and will indemnify and save harmless said Attorneys and their assigns from all damages and loss by means or by reason of anything to be done in pursuance of and to the extent of the power above granted: and said Attorneys agree faithfully to perform and fulfill such agency and Attorneyship and all duties on their part pertaining thereto, and said Durant agrees faithfully to apply the moneys to be received by him from the fares, freight, tolls Earnings and income aforesaid to the uses and

Saving...

and said attorneys shall apply the net residue to the payment of such sums as may become owing hereafter to said Durant by said Company during said term of time upon his contract with said Company for the construction and completion of said Railroad from Marengo to Grinnell, for so much as he shall perform on said contract during said term of time, until the sum paid is equal to the net Earnings of the Road from July 1st 1862 to January 1st 1864 as is specified in the above mentioned agreement with certain Bondholders, bearing date July 1st 1862; and if any surplus shall remain after paying said last mentioned sums in full, these said Attorneys shall pay the said surplus to the said company or its assigns.- Said Company agrees that said Attorneys shall have exclusive right and power to exercise such agency and Attorneyship as aforesaid and shall also have power and authority with the consent of the Executive Committee of said Company to sell, pledge, transfer, or delegate all and singular the agency and Attorneyship above granted and all powers, rights and benefits thereof: and also that said Company shall and will indemnify and save harmless said Attorneys and their assigns from all damages and loss by means or by reason of anything to be done in pursuance of and to the extent of the power above granted: and said Attorneys agree faithfully to perform and fulfill such agency and Attorneyship and all duties on their part pertaining thereto, and said Durant agrees faithfully to apply the moneys to be received by him from the fares, freight, tolls Earnings and income aforesaid to the uses and