Fifty shares were to
be at the disposition of Mr. Astor, and the other fifty to be
divided among the partners and their associates.
Mr. Astor was to have the privilege of introducing other persons
into the connection as partners, two of whom, at least, should be
conversant with the Indian trade, and none of them entitled to
more than three shares.
A general meeting of the company was to be held annually at
Columbia River, for the investigation and regulation of its
affairs; at which absent members might be represented, and might
vote by proxy under certain specified conditions.
The association, if successful, was to continue for twenty years;
but the parties had full power to abandon and dissolve it within
the first five years, should it be found unprofitable. For this
term Mr. Astor covenanted to bear all the loss that might be
incurred; after which it was to be borne by all the partners, in
proportion to their respective shares.
The parties of the second part were to execute faithfully such
duties as might be assigned to them by a majority of the company
on the northwest coast, and to repair to such place or places as
the majority might direct.
