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Document 31104
HARRY S TRUMAN. Early Typed Contract signed:
"Harry S Truman", "D.H. Morgan" and
"Jerry Culbertson", 3p, 8½x14. Kansas City, Missouri, 1916
October 18. In part: "Know all men by these presents: That whereas, we
the undersigned D.H. Morgan, Jerry Culbertson and Harry S. Truman all of Kansas
City, Missouri, being desirous of associating ourselves together in forming a
partnership under the firm name of Morgan & Company to engage in a general
Oil Investment and Brokerage business, buying and selling oil lands, leases, oil
production, oil properties, oil stocks and securities of every nature on a
commission basis or otherwise...and whereas: the said D.H. Morgan now owns 1219.45
acres of land in LeFlore County, Oklahoma on which there is still remaining due
and unpaid the sum of approximately $1600 which said sum is due the United
States Government as the remaining part and portion of the original purchase
price of said land. Now therefore for and in consideration of the covenants and
agreements herein contained and the further consideration of the said Harry
S. Truman paying into the said partnership or form of Morgan & Company, as
herein set forth, the sum of $5000, which shall be and become the property
and assets of said Morgan & Company, and the further consideration of the
said Jerry Culbertson turning into the said firm of Morgan & Company all
lists and names of clients who have previously been clients in the various
companies heretofore promoted by said Jerry Culbertson, and the further
consideration of said D.H. Morgan turning over to said company or firm of
Morgan & Company said 1219.45 acres of land...It is further agreed and
understood that the said D.H. Morgan shall act as President...and that said Jerry
Culbertson shall act as Secretary...and the said Harry S. Truman shall act as
Treasurer...and it is further expressly agreed and understood that the said
Harry S. Truman be empowered to use any and all monies in his possession as may
become necessary in paying and discharging the four certain promissory notes in
the sum of $5000 executed by himself and Martha E. Truman...." MARTHA ELLEN
TRUMAN was Harry's 63-year-old mother. After his father John Truman died in
1914 at the age of 62, Harry struck out on his own. Like his father, Harry
believed in luck and gambled in business. In early 1916, he invested in a zinc
and lead mine in Commerce, Oklahoma, hoping to cash in on a rise in metal prices
caused by the war in Europe. Unfortunately, prices fell and Truman lost his
investment. In the contract offered here, Truman and his widowed mother invested
money in Oklahoma oil wells. Morgan & Company went broke. The following
year, Truman joined the Second Missouri Field Artillery Regiment to fight in WWI
and his luck changed. After the war, he married childhood sweetheart Bess
Wallace and opened a men's clothing store in Kansas City with an army friend.
Another army friend was the nephew of the Democratic political boss of Kansas
City. That association would change Truman's life. Edges worn and nicked. File
holes at top blank margin.
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