HICKOX v. ELLIOTT. 15
hereinafter provided, (and withintwo years from the date hereof, whe ter
the last installment shall be demanded by said Elliott within one year from-
the date hereof or not,) with interest on each installment from the date of the
advance thereof at the rate of ten (10) per cent. per annum.
"And in consideration of the loan of said sum by said White upon the
terms herein stated, said Elliott has granted to said White the option, to be
exercised within the pe1·iod hereinafter limited, to take in lieu of the repay-
ment of the sum loaned as aforesaid, free from all deductions or charges of
any kind for any purpose, one-half of all the property aforesaid, of or pertain-
ing to said railroad company, (except the bonds thereof,) that shall be recov-
ered by said Elliott, and of the bonds of said company that shall be so recov-
ered, after deducting one million dollars thereof for his (said Elliott’s) use, and
not exceeding one hundred thousand dollars thereof for R. P. 8a J abish Clem-
ent, in payment for legal services; said option to continue until sixty (60) days
after said Elliott shall have received possession of said property and notified
White thereof; and if money or other property should be received in place of
the property and bonds aforesaid, said option to exist and continue as to such
money and property; the dividend thereof to be made in the proportions afore-
said, according to actual value. '
" And to secure the performance of this agreement on his part, and to secure
the payment of any additional advances not exceeding thirteen thousand
(13,000) dollars that he may obtain from said White or other parties, said El-
liott has assigned and conveyed in trust to Geo. C. Hickox all his right, title,
interest, and claim in and tothe property aforesaid. ·
"And in consideration of the agreement and acts of said Elliott, said White
has agreed to loan to said Elliott said sum of twelve thousand (12,000) dollars
in gold coin of the United States,` and to advance the same upon his demand
in installments from time to time, as the same shall be required, upon the terms
aforesaid.
"Signed in duplicate, at San Francisco, California, this tenth day of Feb-
ruary, 1874. . ,
[Signed] "S. G. Er.r.rorcr.
"MARTIN WHITE.',
And in pursuance of said agreement, Elliott executed and delivered
to the plaintiff the following sale and assignment, namely:
"In consideration of the sum of twelve thousand dollars in gold coin of the
United States, to me paid, and other valuable considerations, I, S. G. Elliott,
of the commonwealth of Massachusetts, have granted, bargained, sold, and
assigned, and by these presents do grant, bargain, sell, and assign, unto George
C. Hickox, of the city and county of San Francisco, state of California, _all
my right, title, interest, and claim, both in law and equity. in and upon the
stock, property, and assets of the Oregon Central ltailroad Company of Salem,
Oregon, and the Oregon & California Railroad Company, of Portland, Oregon,
the firm of A. J. Cook & Co., and the firm of Ben Holladay & Co. · ` » ( `
"In witness whereof, I have hereunto set my hand and seal this thirteenth
day of February, 1874. `
( [Signed] “s. G. Er.r.1o1··r. [Seal.]
"Witnesses: MARTIN Wnrrn, R. P. CLnmmNT." V ,
Between this date and March 25, 1879, White, in pursuance of
this agreement, and upon the security of this sale and assignment,
advanced to Elliott, andothers. for him, including~$2,000 paid to the
defendant Eihnger, the sum of $22,589.65, no part of which has been
1‘6pB,id• ; 2 i A , . . `