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 THE RIVAL COMPANY 183 rival Company, with the king as their partner— a part- ner who should bring in no money, but earn his profits by his secret support. Charles had a plain course open to him. He had only to give the East India Company the three years' notice required by the charter, and either resume its monopoly or force it to come to terms. Some of its members were quite ready for a compromise, and in- deed preferred the " Regulated " system of separate ventures to a Joint Stock. Others were so despondent that they desired nothing better than to have three years allowed for bringing home their ships and prop- erty. In 1635 the king granted a license to his three friends on the ground that the Company had consulted only its own interests, neglected those of the nation, and broken the conditions on which its exclusive priv- ileges had been bestowed. Instead, however, of giving the three years' notice Charles assured the Company that the new association would not trade within its jurisdiction, but was to " be employed on some secret design which his Majesty at present thought not fit to reveal." In vain the dismayed governor waited in the White- hall antechamber all forenoon. He only succeeded in thrusting a petition into the king's hand as his Majesty passed forth after dinner, but got not a word in reply. News soon arrived that two of Courten's ships which sailed " without any cargoes " almost as undisguised privateers, had plundered an Indian vessel in the Red Sea; and that the Company's servants at Surat were