Titus

The bill seeks to enforce the provisions of a contract entered into December 9, 1905, between plaintiff’s testator, W. H. Titus, and John McAlpine, testator of defendants; and for an accounting thereunder. In substance, the contract provided that Titus, a resident of Beckwith, Cal., “a cruiser and examiner of timber and timber lands,” was to examine and purchase timber lands in this state, the title to be taken in the name of McAlpine, a resident of Duluth, Minn., described in the contract as “a dealer in and handler of timber and timber lands,” and who, the contract contemplated, should advance the necessary funds. McAlpine was to pay to Titus $150 per month, Titus to pay his own expenses, but to have in addition to his salary a one-quarter interest in the net profits resulting from the disposition of. the lands to be purchased and the timber thereon, after deducting the purchase price, expenses of acquisition, taxes, *967 carrying charges, and interest at 5 per cent, on the moneys advanced by 'McAlpine, with an option in Titus, in lieu of his interest in the net profits, to receive title to an undivided one-quarter interest in the corpus of the lands and timber at any time he…