'NEW YORK, June 19, 1872.
'This agreement between Hiram Sibley, of Rochester, R. F. Simonton, of North Carolina, and Lancaster, Brown & Co., of New York, witnesseth, that the said Sibley agrees to sell to the said Simonton one-half interest in all his right and title to $1,057,000 of the first mortgage bonds of the Western North Carolina Railroad Company now held by him, ($500,000 of said bonds being signed by only one trustee,) and now in hands of Lancaster, Brown & Co. for safe keeping, and eight thousand one hundred and fifty-eight shares of stock in said company, for the sum of $135,633, payable on the fourteenth day of March, 1873, and the said Simonton agrees to buy the said interest, and to pay as aforesaid; and the said Sibley also agrees to sell the said Lancaster, Brown & Co. one-fourth of all his right and title to the said bonds and stock for the sum of $67,817, payable on March 14, 1873, and the said Lancaster, Brown & Co. agree to buy the same, and to pay as aforesaid. It is expressly understood that the aforesaid bonds and stock sold each party are to be considered as held by Hiram Sibley as collateral security for the prompt payment of the said sums of money, and the whole amount of bonds and stocks shall be held together, and that neither party to this contract shall sell or in any way dispose of the whole or any part of his interest in the same, without the consent of all of the other parties. But Hiram Sibley shall have the privilege of selling the whole amount of both bonds and stock at his discretion at any time, and apply the proceeds to the payment of said sums due to him, allowing a rebate at the rate of seve per cent, per annum, if the payment shall be thus received before maturity. It is further agreed that Hiram Sibley may, if deemed best by him, proceed to foreclose the mortgage securing said bonds, and to that end may employ counsel, the charge for which shall be borne by the parties in interest, in proportion to the amount of bonds and stock held by each; and whatever the proceeds of said foreclosure may be, or, if the bonds are sold, whatever the net proceeds of the sale may be, after paying the said sums of money and expenses of foreclosure, they shall be considered as due to each party in proportion as the bonds and stock are now held, but may be held by Hiram Sibley as collateral security for the payment of the aforesaid sums respectively.'
'NEW YORK, June 20, 1872.
'Mr. Hiram Sibley having this day sold to R. F. Simonton one-half of his interest in $1,057,000 first mortgage bonds of the Western North Carolina Railroad Company, and eight thousand one hundred and fifty eight shares of the stock of said company, and to Lancaster Brown & Co. one-fourth interest in said bonds and stock, he himself holding the remaining one-fourth interest, it is mutually agreed between all the parties that from any profits arising from the sale, foreclosure, or any other disposition of said bonds and stock, $25,103.75 shall be first set apart to be divided in three equal parts; Hiram Sibley, R. F. Simonton, and Lancaster, Brown & Co. each to have one-third. From any profits remaining there shall be first paid to Lancaster, Brown & Co. the commission by them for sale of bonds and tax, amounting to $1,348.20, and to the Western North Carolina Railroad Company $881.27 due to said company, and any balance remaining shall be divided as follows: Hiram Sibley one-fourth; R. F. Simonton one-half; Lancaster, Brown & Co. one-fourth. In case of loss in this adventure, the amount due to Lancaster, Brown & Co. of $1,348.20, and to the Western North Carolina Railroad Company of $881.27, shall be paid by each of the parties in proportion to their interest, and in the same proportion any deficiency that may exist in the proceeds, necessary to return to the said Hiram Sibley the sum of $271,266.'