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Washington, the purchase of vessels, goods and provisions
for the purpose of carrying on the operation aforesaid
and of managing all matters incidental thereto

Third
The subscribers hereto are to be bound by the
stipulation herein contained subject to liabilities
now & hereafter to be incurred each for himself only.

Fourth
The Stock of the association including lands pur-
chased or contracted for, or which shall hereafter be
purchased, buildings, vessels & monies arising from
the sale thereof, & all other funds & personal property has
been divided by a resolution of the Shareholders.
Which is hereby made a permanent article of this
association into six hundred & ten shares of one
hundred dollars each share, and taken by the above
named parties in the proportion following, to wit Samuel
Swartwout one hundred & fifty shares, John S. Bart
lett, one hundred shares, Thomas E. Davis fifty shares
Stephen Sicard fifty shares, James Watson Webb
fifty shares, James Morgan fifty shares, Lorenzo
De Zavala twenty five shares,Joseph Avesanna twenty five shares William Dall twenty
five shares, Walter Mead twenty five shares, Walter
Mead, twenty five shares, James Treat fifty shares,
and John P Austin, ten shares.

Fifth
The subscribers shall be respectively liable to pay
at such times and in such manner as the Man-
agers of the Association shall hereafter direct in
the proportion of their respective shares such
[sizing?] as shall be required for the purposes of
the association not exceeding in all, Sixty one
thousand dollars which is the present limit of the
capital to be invested, & in default thereof by any
shareholder he shall forfeit all right and inter
est in the shares subscribed for by him & all pay-
ments previously made by him. Each shareholder
to be liable however only for his own proportion as
above.

Sixth
Samuel Swartwout, John P. Austin & James
Treat having been by resolution of the association
appointed a board of managers for the purpose

Washington, the purchase of vessels, goods and provisions
for the purpose of carrying on the operation aforesaid
and of managing all matters incidental thereto

Third
The subscribers hereto are to be bound by the
stipulation herein contained subject to liabilities
now & hereafter to be incurred each for himself only.

Fourth
The Stock of the association including lands pur-
chased or contracted for, or which shall hereafter be
purchased, buildings, vessels & monies arising from
the sale thereof, & all other funds & personal property has
been divided by a resolution of the Shareholders.
Which is hereby made a permanent article of this
association into six hundred & ten shares of one
hundred dollars each share, and taken by the above
named parties in the proportion following, to wit Samuel
Swartwout one hundred & fifty shares, John S. Bart
lett, one hundred shares, Thomas E. Davis fifty shares
Stephen Sicard fifty shares, James Watson Webb
fifty shares, James Morgan fifty shares, Lorenzo
De Zavala twenty five shares,Joseph Avesanna twenty five shares William Dall twenty
five shares, Walter Mead twenty five shares, Walter
Mead, twenty five shares, James Treat fifty shares,
and John P Austin, ten shares.

Fifth
The subscribers shall be respectively liable to pay
at such times and in such manner as the Man-
agers of the Association shall hereafter direct in
the proportion of their respective shares such
[sizing?] as shall be required for the purposes of
the association not exceeding in all, Sixty one
thousand dollars which is the present limit of the
capital to be invested, & in default thereof by any
shareholder he shall forfeit all right and inter
est in the shares subscribed for by him & all pay-
ments previously made by him. Each shareholder
to be liable however only for his own proportion as
above.

Sixth
Samuel Swartwout, John P. Austin & James
Treat having been by resolution of the association
appointed a board of managers for the purpose