| Description | Between Robert Watts and John Shakespeare Manton, both of Birmingham, Warwickshire, button manufacturers and merchants; recites leases of The Regent Works, Regent Street and Frederick Street, Birmingham, of premises in Victoria Street, Birmingham, and of 38 Noble Street, London, to Watts and Manton etc.; dissolution of Dain, Watts and Manton in Nov. 1867 and agreement of Watts and Manton to continue in partnership from 30 Nov. 1867 to 30 Sept. 1875, under the style of Watts and Manton; capital of partnership is £18397 16s 4d as per balance sheet (held in equal shares); patent (recited) held by Manton to be used exclusively by the partnership in the button trade but may be licensed by him to other trades; profits from the button trade divided two-thirds to Manton and one-third to Watts; other profits divided equally; partners may draw up to £60 a month; partner may leave interest in partnership by will, but not otherwise, and beneficiaries not to have any rights of a partner nor to interfere in management; surviving partner may carry on business to 1875 using the whole capital of the partnership; executors etc. of deceased partner not entitled to draw capital out until debts owing to Benjamin Dain, George Boulton Denham, Caroline Watts, the exors of the late Samuel Luff and The Birmingham and Midland Banking Co. are paid, then annual instalments of £1000 payable, with representatives of deceased partner receiving one-third of profits (and able to draw up to £10 a wwk on account thereof) and the surviving partner two-thirds. |