UTSA James Morgan Papers

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