| Description | Between James Batson of West Bromwich, Staffs., iron and coal master and Thomas Wood of Portobello, Scotland, glass bottle manufacturer, for working coals under 22a. 3r. 20p. of land at Swan Village, West Bromwich acquired by the within recited deed of 16 May 1872; partnership for 7 years from 25 Mar. 1872 under the style of The Swan Colliery Company; profits to be divided equally; capital to be £4000, of which £3400 14s rd is represented by the land, mines and machinery (£2000 found by Wood); Batson to be managing partner and receive a salary (in addition to profit) of £175 p.a.if the profits be £600 p.a. or 12.5% of them when less; on dissolution, the continuing partner to pay the other for his share, one third down and the balance in three equal half-yearly instalments; executors of dead partner may opt to become partners or be paid off as under dissolution, etc. |