Articles of Agreement made and entered into this day, 16th March, 1787, between the Honble. William Blount & Benjamin Hawkins, Esquires, Delegates in Congress for the State of North Carolina, and Constable, Rucker, & Co., of New York, Merchants.
1st. The said William Blount and Benjamin Hawkins, by virtue of Authority in them Vested by an Act of the Legislature of the
State of North Carolina passed at the last Sessions, directing and Authorizing the Delegates in Congress from that State to sell and dispose of all the Tobacco purchased by the said State under an Act of Assembly dated 29th Decm., 1785, have this day sold to Constable, Rucker & Co., all such part of the said Tobacco as shall upon re-inspection be found Good and Merchantable, at the rate of three Spanish Milled Dollars and one third per hundred pounds, nett weight at the time of delivery.2nd. That the said Tobacco shall be carefully re-inspected and put in good shipping order free of any expence to the purchasers other than the above stipulated sum of twenty-six Shillings & Eight pence per one Hundred pounds, and be delivered at the Ports of Wilmington and Washington or Edenton, to their Attorneys who shall give Receipts for the Same and the delivery shall Commence within thirty days from the date hereof and be Continued until the whole shall be received.
3d. That should any dispute arise between the Agent of the said State and the Agent of the Purchasers, respecting the Quality of the Tobacco, it shall be submitted to persons of Character, mutually chosen by the parties, whose award shall be final.
4th. It is agreed that the Vessels sent round by the purchasers shall give six days notice of their arrival to the State agents at the different Points of Delivery, after which time on failure of Delivering the Necessary Tobacco to load them, the State shall pay the Customary demurrage for the Detention of said Vessels for all such time as they shall be detained.
5th. It is agreed on the part of Constable, Rucker & Co., that they will advance on account of this Contract, to the Commissioners of the Board of Treasury of the United States, the sum of Twentyfive thousand Guilders in Bills of Exchange on Amsterdam as follows: One set to be delivered the sixth day of April next, for fifty Thousand Guilders payable the first of November next, and one other set for Twenty-five Thousand Guilders to be delivered on the Sixteenth of same Month payable the first of December ensuing; Provided always, that if the Tobacco delivered in pursuance of this agreement shall not amount to the Sum so Advanced in Bills, which shall be computed at three Shillings and two pence Currency per Guilder, the over plus shall be reimbursed Constable, Rucker & Co., within Ninety days after the deficiency shall be Ascertained, and
in like Manner if the Quality of Tobacco delivered shall exceed the said amount the Balance shall be paid the Commissioners of Treasury within Ninety days after the same shall be Determined.In Witness Whereof, the Parties have Hereunto interchangeably set their Hands & Seals the day & date above Written.
Delivered in presence of John Shipboy.