Page:Federal Reporter, 1st Series, Volume 10.djvu/862

850 .FEDEBAl. EBPOBTES. �as follows: The N. E. J of the N. W. ^ of section 34, in towusbip No. 30 north, of range No. 15 west. �The suit is founded in part upon a written contract entered into between the defendant Pati'ick Bellew on the one side, and Erastus Corning, Horatio Seymour, William Allen Butler, William Ef. Ogden, and other persons residing in the state of New York, and B. J. Stevens, residing in the state bf Wisconsin, land-owners, by Angus- tus Ledyard Smith, their attorney, on the other. This contract was made in Augast, 1875. The defendant Patrick Bellew was a.lum- berman residing in Wisconsin. The other parties to the contract were the owners in severalty of large quantities of pine lands lying in northern Wisconsin. By the contract they, through their agent, AugustuB Ledyard Smith, residing at Appleton,' Wisconsin, agree to sell to Bellew a quantity of pine lands lying in the county of St. Croix, the price to be determined by an estimate to. be afterwards made of the amount of pine timber upon each description of land at $2.50 an acre for the stumpage. They also agree to sell to Bellew the pine timber upon certain other lands described in the contract at the rate of |3. 50 per thousand feet for stumpage. �Bellew is to build a saw-mill worth $9,000 upon one of the 40- acre tracts of land included in the contract, to be selected by him, and the other parties to the contract agree to give him title to the 40 acres so selected for the mill site, after which Bellew is to have the privilege of mortgaging the land selected for the mill site to an out- side party in the sum of $6,500, and then is to give a second mort- gage back to the other parties to the contract to secure the faithf ul performance of the contract. The material provision in the contract, on which the suit is in part founded, is as follows : �"And the said party of the second part does hereby covenant and agree witTi the said parties of the flrst part, for and in consideration of one dollar, to him in hand paidj the receipt wbereof is hereby acknowledged, to build, maintain, and erect a good, substantial saw-mill upon certain lands, to be hereinafter described ; the mill to be of the value of at least $9,000. The land upon which said mill is to be built is to be hereafter selected by the party of the second part, and the forty upon which it is built and erected is to be con- veyed by the parties of the tirst part, by good and sufflcient deed, conveying to the party of the second part the title thereof iu fee-siraple. And, the said party of the second part is to have the right to mortgage the forty upon which the said mill is built, after the same shall have beeu cqnvjeyed to him as aforesaid, to an outside or third party, in a sum not exceeding $6,500, and after the same is so mortgaged he covenanta and agrees to giVe to the party of the flrst part a second mortgage on the said laid upon wMch the- mill is built, as aforesaid, and which is couveyed to him, as aforesaid, :artd which said ��� �