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Item Number:  0136
Description:  "Memorandum of Record" written by Joshua Forman October 21, 1829, Rutherfordton, North Carolina. This is a copy of the document, and is not addressed to an individual. Forman refers to himself as the Manager of the Rutherfordton Speculation Lands for Isaac Bronson and Goold Hoyt. He states the "following chronology of material facts as he understands them": 1. James Greenlee, Lewis Beard, and William Erwin entered into an Article of Agreement with 15 others on July 7, 1795, in Rutherford County, for the management and sale of these lands. 2. On June 27, 1797, Lewis Beard and Arthur ____, as their agents, under the Fourth Article, sold Tench Coxe 100,000 acres. 3. On January 1, 1796, the Land Company sold Tench Coxe 50,000 acres. 4. March 9, 1796 Lewis Beard sold 90,000 acres to Tench Coxe. 5. August 11, 1796 James Greenlee contracted to Tench Coxe the balance of their land containing 264,000 acres. 6. August 11, 1796, Lewis Beard and William Erwin executed a Deed to Tench Coxe for seventeen Patents containing 122,240 acres. 7. Having assigned the residue of the __ Warrants to Tench Coxe, they obtained, in the name of Tench Coxe, 43 other Patents containing 267,215 acres. 8. Shortly after this, Tench Coxe, "being financially encumbered" conveyed his lands in Trust for the benefit of his creditors, "in which state they continued until August 12, 1819". 9. On August 12, 1819, the Trustees, Peter Stephen Du Ponceau and Abraham Kintzing ( of Philadelphia) conveyed the deeds for land (in what was then Rutherford County) to Augustus Sacket (of New York City, and Sacket Harbor, New York) for the amount of $199,978 (for 399,040 acres). Sacket mortgaged the total amount for one year and never paid the first installment. 10. July 12, 1825, Coxe's Trustees assigned the mortgage to James Thompson, Gould Hoyt, James B. McMurray and Isaac Bronson. Forman also discusses an evaluation by Judge J. Thomas of the surveys made of these lands at various times by various surveyor's. According to Thomas's evaluation after viewing the lands, because so many different surveyors were used he questions their accuracy. For example, some surveys were of Patents within existing Patents. He also points out that some Deeds and information provided by James Erwin to Tench Coxe and by Coxe to his Trustees were inaccurate. Thomas also raises the issue of what legal body or whom will deal with and resolve these problems when they arise. This document consists of four handwritten pages, some of which is difficult to read.
Date of Item:  1829-10-21
Category:  Supporting Documents
Location:  Box 2
 
[Page 1]

           Having under taken management of the Rutherford Speculation Lands for Messrs. Isaac Bronson & Gould Hoyt of the City of New York, I am desirous as early as possible to obtain a thorough knowledge of the rights of my principals to direct my efforts to the best advantage for their interests.  I have prepared a statement of the use embracing the material parts as far as I have understood them.
                    James Greenlee Lewis Baird & William W. Erwin with 15 others having before made numerous entries of Lands in the County of Rutherford in the names of those three of 660 acres each in the 7th Feby 1795, entered into an article of a...tion[?] for the management and solely those Lands a why[?] of which in annexed marked A.-
          On the 27th June 1797. Lewis Baird & Andrew Baird as their agents under 4th article - Sold to Tench Coxe of Philadelphia 100,000 acres of those lands - of which contract a copy is annexed marked B.-  And at the same adverce[?] said Coxe a copy of the above articles of a...tion[?] & the description of the lands by G. B. & E. - a copy which is annexed marked C.  which description is before[?] to in the sale.-
     The said land Company afterwards sold to said Coxe on the 1 Janry 1796.  80,000 acres     by Lewis Baird-
         9 March 1796- 90,000 acres-by Lewis Baird in both of which the same provisions are made as to quality of land and titles as in the first sale.
       On the 11 Augt 1796 James Greenlee then agent to sell contacted[?] to T. Coxe the ballance [sic] of this Land referring to the two contracts of the proprietors - & renting[?] the three previous sales tells the ballance of their lands 264,000 acres- on the same terms as to quality & title.-a why of which is added marked E.
          In performance of these [w    ] on the 11th Augt. 1776 G.B. & Erwin executed a deed to T.C. for 17 patents- containing 122,240 acres. Copy of the material[?] part-marked F-
          and having assigns the resider[?] of the entries & warrants To him they obtained in the name of T. Coxe & 3 other patents amounting to 267,215 acres - and executed with their wives[?] a deed, copy of the [material parts?] of which duly joined marked G - of the lands included in said 43 patents - dated 27, July 1797.
        Upon the recipt of these deeds, T. C. gave a Rect[?] waving his right of inspection and rejection approves[?] of the land of why marked H & gave his land for the ballance of purchase      [?] -