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THE CAPE SABLE COMPANY'S CASE. 649
be reduced from the amount of claim No. 14; no credit having
been allowed therefor in said claims.
But the auditor further reports, that by an agreement made and
entered into between Richard Caton and others, who were after-
wards incorporated by the name of The Cape Sable Company, of
the first part, and said Philip G. Lechleitner and Gerard Troost of
the second part; and dated on the 25th of September, 1813, the
said Lechleitner and Troost engaged to erect and establish, on the
lands at Cape Sable, belonging to said Richard Caton and others,
works for making copperas and alum; and to carry on and superin-
tend the same; and to supply and furnish one-half part of the
whole capital that might be found necessary for so establishing and
carrying on said works. By a subsequent article of the same
agreement, the said Lechleitner and Troost undertook to furnish all
the capital, above five thousand dollars, which should be necessary
for the purposes aforesaid; and provision was then made for distri-
bution of the profits of the works between the parties to the agree-
ment. The auditor thinks, that this agreement made said Lechleit-
ner and Troost co- partners with the said Caton and others; and
with The Cape Sable Company, since its incorporation; and as
such their claims, for capital, or for additional advances, should be
postponed to the claims of the mere creditors of the company,
This objection applies to claims No. 14, 15 and 16. It may be
proper to remark, that P. G. Lechleitner is charged on the books
of the company with the whole amount of capital, stipulated to be
furnished by said G. Troost and himself.
The auditor further reports, that said P. C. Lechleitner by a
writing, dated on the 26th of September, 1816, in consideration erf
some money lent, assigned to Paul Busti, since deceased, all his
right and interest in the copperas and alum manufactory at Cape
Sable, and the whole amount of his advances made for the same,
as security for moneys lent, or to be lent; and also for notes dis-
counted by said Busti for said Lechleitner; that by a deed, bearing
date on the 31st of August, 1820, the said Lechleitner and Troost
assigned unto Rosewell L. Colt and James Neilson, all their right,
title, interest and estate in and to the aforesaid works, as used and
enjoyed by them under their contract with the company, in trust, to
secure the payment of certain moneys due from said Lechleitner and
Troost to said Rosewell L. Colt and James Neilson; a copy of which
is filed with claim No. 6. And by another deed, executed on the
10th of August, 1822, the said Lechleitner unto said Paul
82 v. 3
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