The Southwestern Historical Quarterly, Volume 31, July 1927 - April, 1928 Page: 236
390 p. ; 23 cm.View a full description of this periodical.
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Southwestern Iistorical Quarterly
AND WHEREAS, as the result of the investment by the said
Goodnight of the capital furnished by the said Adair there is:
FIRST: Now standing in the name of the said Adair as grantee,
ninety-three thousand six hundred and twenty-nine acres (93,629),
more or less, being all the land purchased by the said Goodnight,
with the capital furnished by the said Adair, which constitutes and
comprises what is known as the Palo Duro Ranch aforesaid, but
not including any other land in the said Panhandle of Texas, or
elsewhere, the legal title to which is in said Adair, which land is
of the supposed value of one hundred and fifty thousand dollars
($150,000.00).
SECOND: There iL now on said ranch and range adjacent
thereto a herd of cattle supposed to be twenty-seven thousand eight
hundred and seventy (27,870) in number of the supposed value of
twenty (20) dollars per head ($557,400.00).
THIRD: A herd of horses and mules numbering one hundred
and sixty-four (164) head of the supposed value of eight thousand
five hundred and twenty-nine dollars ($8,529.00).
FOURTH: All other personal property of the supposed value
of two thousand and fifty-two dollars ($2,052.00).
Total supposed value of assets, $717,981.00.
AND WHEREAS, the said Adair has requested the said Good-
night to continue the business of cattle raising for the mutual
benefit of the parties hereto upon the basis and on the terms and
conditions hereinafter named, and whereas the said Goodnight
has assented thereto, and whereas, the capital advanced from time
to time by the said Adair and invested in the business of cattle
raising and the purchase of real estate, as aforesaid, together with
ten per cent per annum interest thereon will aggregate January
first A. D. one thousand eight hundred and eighty-two, the sum
of two hundred and five thousand, two hundred and seventy-two
and 50/100 ($205,272.50) after deducting the capital hitherto
repaid to the said Adair by the said Goodnight.
AND WHEREAS, after deducting the sum last aforesaid from
the total valuation of all the assets both real and personal resulting
from and growing out of the cattle and real estate venture afore-
said there will remain about five hundred and twelve thousand
and seven hundred and eight 48/100 ($512,708.48), now repre-
sented by said real and personal property in which the said Adair
has and owns a two-thirds interest and the said Goodnight a one-
third interest.
AND WHEREAS, it is agreed by and between the parties
hereto that the said agreement entered into as aforesaid June
eighteenth, A. D. 1887 shall on the first day of January, A. D.
1882 come to an end and cease and determine, and in lieu thereof
the agreement hereinafter set forth shall control, fix and define
the right duties and obligations of the parties thereunder.236
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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 31, July 1927 - April, 1928, periodical, 1928; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth101088/m1/254/: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas State Historical Association.