9 & 10 W. 3. 6.44. § 40. † Sis. $48. 549 which no Protection, Effoin, or Wager of Law fhall be allowed, or any more than one Imparlance. [Here the Roll contains the Aas following, viz. An Act for repairing the Harbour and Key of Watchet, in the County of Somerfet. An A& for the more effectual making and keeping the River Tone navigable from Bridgewater to Taunton, in the County of Somerset. CA P. XVII. An Act for afsuring to the English Company trading to the Eaft Indies, on account of the united Stock, a longer Time in the Fund and Trade therein mentioned, and for raising thereby the Sum of twelve hundred thoufand Pounds for carrying on the War, and other Her Majefty's Occafions. OST gracious Sovereign; Whereas in and by an A& made in the ninth Year of the Reign of our late Sovereign Lord King William the Third (of glorious Memory) intituled, An Ad for raising a Sum not exceeding two Millions, upon a Fund for Payment of Annuities, after the Rate of eight Pounds per Centum per Annum, and for fettling at Trade to the East Indies, it is, amongst other Things, enacted, That all the Monies arifing 'by the feveral Duties upon Salt and Rock Salt, and upon ftampt Vellum, Parchment and Paper, in the faid Act mentioned, should be brought and paid into the Receipt of the Exchequer yearly and every Year, reckoning the first Year to begin from the nine and twentieth Day of September One thousand fix hundred ninety eight, and that one hundred and fixty thoufand Pounds per Annum, of the Monies to arife by the faid feveral Duties, and to be brought into the Exchequer by weekly or other Payments, in cafe the fame Payments fhould extend thereunto, fhould be the whole and entire yearly Fund, and in cafe the fame weekly or other Payments fhould not extend to one hundred and fixty thoufand Pounds per Annum, then the faid weekly Monies or Payments, fo far as the fame fhould extend, fhould be part of the yearly Fund, for and towards the anfwering and paying of the Annuities of eight Pounds per Centum per Annum, to fuch Perfons or Corporations as fhould fubfcribe and pay in their Monies upon the Terms of the faid Act; And it is thereby further enacted, That it fhould and might be lawful for His Majefty, by Commiffion under the then Great Seal of England, to authorize and appoint any Number of Perfons to take and receive all fuch voluntary Subfcriptions as should be made on or ⚫ before the faid nine and twentieth Day of September Que thousand 'fix hundred and ninety eight, by or for any Perfon or Perfons, Natives or Foreigners, Bodies Politic or Corporate (the Governor and Company of the Bank of England only excepted) of any, Sum of Money whatsoever, not lefs than one hundred Pounds, for and towards the raifing and paying into the Receipt of the Exchequer, the Sum of two Millions of Pounds Sterling: And it was therein further enacted, That during the Time thereby ⚫ limited for taking the faid Subfcriptions, it should and might be 5 lawful or any • lawful to and for all and every Person and Persons, Natives and $52. $56. § 61. $62. Letters Patent. $79. 9 & 10 W. 3. e. 44. § 82. ⚫ and every Perfon and Perfons, who for any Time fhould be licenfed by fuch Perfon or Perfons, Bodies Politic or Corporate, to trade in the ftead of them, fhould or lawfully might for ever thereafter, by themselves feverally, or by fuch Factors, Agents or Servants as they feverally fhould think fit to entrust, freely traffic, and ufe the Trade of Merchandize into and from the Eaft Indies, and Parts or Limits in the faid A&t mentioned, in fuch Manner, and by fuch Proportions, and fubject to fuch Restrictions as in the faid Act are expreffed: And it was further thereby enacted, That if the said whole Sum of two Millions or one Moiety, or any greater Part thereof, should be fubfcribed ⚫ on or before the faid nine and twentieth Day of September One ♦ thousand fix hundred ninety eight, and all or any Corporations, ⚫ or other Perfon or Perfons, having particular Shares or Interefts in the faid principal Stock of the faid General Society, or in proportionable Annuities or yearly Payments iffuing out of the faid yearly Fund, fhould be willing and defirous to unite and join together fuch their feveral Shares and Interefts, and to be incorporated, fo as they might be able to manage their Trade (in Proportion to their Interefts) as a Company, and by a Joint Stock, that then it should and might be lawful for His faid late Majefty, by Letters Patents under the then Great Seal of England, to incorporate all fuch Perfons and Corporations, by fuch proper Names as he fhould think fit, to be one Company, with Power to manage and carry on their Trade to the Eaft Indies, and other the Limits in the faid A&t mentioned, by a Joint Stock, and to • have perpetual Succeffion, and a Common Seal, with Power to grant and take, fue and be fued, and to choose their own Managers, • Directors and Officers from Time to Time, and fuch other Powers and Claufes as fhould be neceffary or requifite for the carrying on ♦ of fuch Trade, and fhould be reasonable for His faid late Majefty to grant, nevertheless with fuch Reftrictions as in the faid Aá is mentioned; and the Directors and Managers, and other • Members of fuch Company, were to be fubject to fuch further Rules, Qualifications and Appointments, as His faid late Majefty in fuch Charter fhould think neceffary or reasonable to be inferted: And in the said A&t there is contained a Provise ⚫ or Condition of Redemption in fuch Manner and Form as therein ⚫ and hereafter in this prefent Act are expreffed: And it is alfo thereby enacted, That in cafe the Duties arifing or appropriated by the faid Act, fhould at any Time or Times appear to be fo deficient in the Produce of the fame, as that within any one Year, to be reckoned from the nine and twentieth Day of • September, which should be in the Year of our Lord One thoufand • fix hundred ninety and nine, the weekly Payments upon the fame • Duties should not amount to fo much as fhould be fufficient to discharge and fatisfy the feveral and refpective Benefits, yearly Payments or Advantages by the faid Act appointed or intended to be paid, within or for the fame Year refpectively; in every fuch Cafe, every fuch Deficiency should be answered by or out * of the next Aids to be raised and granted by Parliament in the • Manner therein mentioned: As by the faid A&t of Parliament, • in which are contained divers other Powers, Provifoes, Autho rities, Privileges and Claufes, relation being thereunto had, more fully and large it doth and may appear; And whereas in pur fuance fuance of the faid A&t, His faid late Majefty, by a Commiffion ⚫ under the then Great Seal of England, bearing Date at Wefts minfter the fourteenth Day of July in the tenth Year of His Reign, did authorize feveral Perfons therein named, to be Commiffioners, with Power to take Subfcriptions for and ⚫ towards the railing and paying the faid Sum of two Millions, as by the faid Commiffion, relation being thereunto had, may more fully appear: And whereas it appeared by Duplicates tranfmitted into the Office of the Auditor of the Receipt of • His faid late Majefty's Exchequer, that feveral Sums amounting in the whole to the faid Sum of two Millions of Pounds Sterling, were fubfcribed pursuant to the said Act: And whereas the faid ⚫ whole Sum of two Millions was entirelyanfwered to His Majesty's Ufe: And whereas by a Charter under the Great Seal of England, Charter, 3 Sept. bearing Date at Westminster the third Day of September in the 10 W. 3. ⚫tenth Year of His faid late Majefty's Reign, His Majefty created and established the faid Corporation or Body Politick, called, The General Society entitled to the Advantages given by an Act of Parliament, for advancing a Sum not exceeding two Millions, for the Service of the Crown of England, with fuch Powers, Privileges and Benefits as are therein expreffed: And whereas by Letters Patents under the Great Seal of England, bearing Letters Patent. Date at Westminster the fifth Day of September in the faid tenth to W. 3. Year of His faid late Majefty's Reign, reciting, That the Subscribers towards the faid Sum of two millions therein particularly named and expreffed, were willing and defirous to unite or join together their feveral Shares or Interests in the principal Stock of the faid General Society, or in their proportionable Annuities, or yearly Payments iffuing out of the faid yearly Funds, and to be incorporated fo as they might be able to manage their Trade in Proportion to their Intereft, as a Company and by a Joint Stock, His faid late Majefty did grant, ordain and establish, that the Subfcribers therein particularly named, and every of them, and all and every Perfon and Perfons, Bodies Politick and Corporate, who as Executors, Adminiftrators, Succeffors and Affigns, or by any other lawful Title, derived or to be derived from, by or under the fame Subfcribers, fhould have and be entitled to any Part, Share or Interest of or in the faid yearly Fund by the faid A&t fettled as aforefaid, or of or in the proportionable Annuities or yearly Payments iffuing out of the faid yearly Fund, fo long as they refpectively fhould have any fuch Part, Share or Intereft therein, the Eaft Indies. to be one Body Politick and Corporate, by the Name of The English Com- ⚫ therein expreffed. And whereas by another Act of Parliament 'made in the eleventh Year of His faid late Majesty's Reign, 11 & 12 W.3. reciting, That John Dubois of London, Merchant, had, by c.4. PR. • Direction of, and in Truft for the Corporation of the Governor and Company of Merchants of London, trading into the Eaft • Indies, fubfcribed and paid the Sum of three hundred and • fifteen thousand Pounds, as Part of the faid Sum of two Millions, it was enacted, That the faid Governor and Company of • Merchants of London trading into the East Indies, should remain, ⚫ continue Indenture. continue and be one Body Corporate and Politick by the Name ⚫ aforefaid, fubject nevertheless to be determined upon the Redemption of the Fund by the faid A&t granted: And whereas by an • Indenture Tripartite, bearing Date the two and twentieth Day of July in the Year of our Lord One thousand feven hundred and two, made between Your Majefty of the first Part, the Governor and Company of Merchants of London trading into the Eaft Indies of the fecond Part, and the English Comany trading to the East Indies of the third Part, it was (amongit other Things) agreed, with Your Majefty's Approbation, that the faid Governor and Company of Merchants of London trading into the East Indies, fhould purchase from the Members of the faid Englife Company fo much of their Capital Stock as would make the Property of the faid Governor and Company of Merchants of London trading into the Eaft Indies equal to the Property which would then remain to the other Members of the faid English Company trading to the Eaft Indies; and that the whole Trade which might or fhould be carried on during the Term of feven Years, to be reckoned from the Date of that Indenture, to and from the East Indies, and other the Parts within the Limits aforefaid, for or in refpect of their feveral • Stocks and Funds thereby agreed to be united, fhould be for the Benefit and Behoof of all the Members of the faid English Company trading to the East Indies, proportionably to their Shares in the Capital or principal Stock thereof; and that the ⚫ faid Governor and Company of Merchants of London, trading into the East Indies, fhould have a Right and Power equal to the rest of the Members of the faid English Company, in the Direction, Management and carrying on of the faid Trade, ⚫ during the faid Term of feven Years, and that after the End or Expiration of the faid Term of feven Years, the whole Trade to the Eaft Indies, and other the Parts within the Limits aforefaid, for or in refpect of their united Stock and Fund, • should for ever (fubject to the Redemption of the faid Fund by Parliament) be wholly managed and carried on by the faid English Company trading to the East Indies (by whatsoever Name the fame fhould then be called) according to the faid Charter of the fifth of September in the faid tenth Year of His faid late Majefty's Reign, and not otherwife: And to that End and Purpofe, many Covenants, Conditions and Agreements were contained in the faid Indenture, as by the fame, relation being ⚫ thereunto had, may more fully appear: And whereas the united Stock of the faid Governor and Company of Merchants of London trading into the East Indies, and of all the reit of the Members of the faid English Company trading to the Ea • Indies, in their own Names, or in the Names of others in Truft for them, doth at this Time amount to one Million nine hundred ninety two thoufand eight hundred Pounds, Part of the Sum of • two Millions before mentioned; and their united Fund doth ⚫ amount to one hundred fifty nine thousand four hundred twenty four Pounds per Annum, Part of the Sum of one hundred and fixty thoufand Pounds per Annum before mentioned: And as well the faid Governor and Company. of Merchants of London trading into the East Indies, as the reft of the Members of the faid English Company trading to the Eaft Indies, are willing to • advance |
