H. O. Maraman & Henry J. Barns - Agreement

This agreement between Heny O. Maraman and Henry J. Barns of Mt. Washington involved their joint venture into developing and improving the water power of Salt River along the stretch of the river bordering Shepherdsville that Maraman had purchased from Wilhite Carpenter. Maraman then mortgaged his two farms to the Mercantile Trust Company of the City of New York to obtain a $5000 loan to complete the work on his mill dam.

---

Bullitt County Deed Book U, Pages 363-364

Articles of agreement made and entered into this 4th day of October 1873 by and between H. O. Maraman of the town of Shepherdsville, Bullitt County, Kentucky and Henry J. Barns of the town of Mt. Washington, Bullitt County, Kentucky.

Witnesseth that whereas heretofore in April 1873 the said parties undertook jointly to develop and improve the water power of Salt River at Shepherdsville, Kentucky under the following arrangement and agreement; H. O. Maraman, the owner of said water power agreed with the said H. J. Barns that if he the said Barns would give his personal supervision of said work, to wit: the building of the dam and the other buildings and machinery and assist in said buildings, that after the completion of said work said Barns was to have for said supervision and assistance one-third of the net profits realized from the mill proposed to be erected, one-third of profits realized from the ferry required by Act of Legislature to be established, and run and kept up across said river, one-third of the profits from the fish trap, and one-third of the profits to be derived from any and all mills machinery to be hereafter erected by he and said Maraman to be run by said water power, it was further agreed that said Barns was to furnish to said Maraman such sums of money as he the said Barns was able to furnish, which money was thereafter to be repaid to said Barns with interest at the rate of 10% per annum from the date it was furnished, and its payment to be secured by mortgage on the home farm of said Maraman of 500 acres, and the farm conveyed to said Maraman by commissioner in case of F. Maraman's administrator vs F. Maraman's heirs & creditors; and on the water power being developed conveyed to said Maraman by W. Carpenter.

It was further agreed by said parties that one-third of the profits realized from any houses put upon the tract of land bought under decree in case of F. Maraman's administrator vs F. Maraman's heirs &c was to be the said Barns upon condition that he Barns would superintend and assist in building said houses, the material therefore being furnished from the lands of said Maraman heretofore mentioned, but this agreement is in no wise to affect the legal title to said land in Maraman, the labor and work necessary to build said houses and such material as has to be bought for said houses Maraman is to pay two-thirds and Barns one-third.

The said Barns to superintend the running of said machinery and mills as far as he is able to give it supervision, and in case of loss, Barnes to bear one-third and Maraman two-thirds.

Now in order to fully carry out the said agreement this paper is executed having effect between the parties from April 1873, and the provision of this agreement is to govern the parties thereto, so long as they run and use said water power, and in case of the death of either of the parties hereto, the rights herein granted are to descend to the heirs of said party; and the said Maraman hereby mortgages the lands herein described to secure all moneys advanced by said Barns, nothing beyond the profits arising from the enterprise hereafter aree to be invested in the further improvements, after the first mill is put up of said water power unless by the joint assent of the parties hereto.

In case of a lease of any portion of the water power hereafter, the profits are to be divided as herein indicated, one-third to Barns and two-thirds to Maraman, and nothing herein is to be so construed that the parties hereto may not if they desire alter this agreement in any particular. The deeds under which Maraman holds the land mentioned herein are made part of this agreement and are referred to for more full and particular descriptions.

In witness whereof the parties to this agreement have hereto set their hands and seals this day and date aforesaid. (signed) H. O. Maraman, H. J. Barnes; Witnesses: William R. Thompson, A. H. Field

State of Kentucky; Bullitt County, Sct. E. W. Hall, Clerk of the Bullitt County Court, certify that on the 8th of November 1873 the foregoing instrument of writing was produced to R. J. Meyler, former clerk of aforesaid court and acknowledged by H. J. Barns, a party thereto, to be his act and deed as appears from an official endorsement thereon which is in the following words and figures, to wit: "1873 Nov 8, acknowledged by H. J. Barns. R. J. Meyler, clerk." and on the 25th of June 1875 the same was lodged in my office, and on the 24th of July 1875 it was ordered to be recorded by H. J. Barns. Whereupon I have truly recorded the same and this certificate in my office this 27th day of July 1875. Att. E. W. Hall, Clerk.

---

If you, the reader, have an interest in any particular part of our county history, and wish to contribute to this effort, use the form on our Contact Us page to send us your comments about this, or any Bullitt County History page. We welcome your comments and suggestions. If you feel that we have misspoken at any point, please feel free to point this out to us.