Page:Ruffhead - The Statutes at Large - vol 4.djvu/345

 A. D. 1 707* Anno fexto Ann^ Reglnas. C. 17. 293 lefs with fuch Reftn^llons as in the ffiid AiS is mentioned ; and the Direftors and Managers, and other Members of fuch Company, were to be fubjeft to fuch furt-her Rules, Qualifications and Appointments, as his faid late Majefly in fuch "Charter fhould think, neceffary or reafonable to be inferted : And in the faid A61 there is contained a Provifo or Condition of Redemption in fuch Manner and Form as therein, and hereafter in this prefent Aft are exprefled : And it is alfo thereby enacted, That in cafe the Duties arifing or appropriated by the faid Aft, 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 fhould be in the Year of our Lord one thoufand fix hundred ninety and nine, the weekly Payments upon the fame Duties fliould not amount to fo much as fhould be fufficicnt to difcharge and fatisfie the feveral and refpedlive Benefits, yearly Payments or Advantages by the faid Act appointed or intended to be paid, within or for the fame Year refpe£tively ; in every fuch Cafe, every fuch Deficiency fhould be anfvvered by or out of the next Aids to be raifed and granted by Parliament in the Manner therein mentioned : As by'the faid A£t of Parliament, in which are contained divers other Powe s. Pro- vifoes, Authorities, Privileges, and Claufes, (Relation being thereunto had) more fully and large' it doth and may appear : And whereas in Purfuance of the faid A6t, His faid late Majefty, by a Commif- fion under the then Great Seal oi England, bearing Date at Weftm'injler the fourteenth Day of "July in tenth Year of his Reign, did authorize feveral Perfons therein named, to be Commiflioners, with Power to take Subfcriptions for and towards the raifing 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 laie Majefty's Exche- quer, that feveral Sums amounting in the whole to the faid Sum of two Millions of Pounds Sterling, were fubfcribed purfuant to the faid Aft: And whereas the faid whole Sum of tv/o Millions was entirely anfwered to his Majefty's Ufe : And whereas by a Charter under the Great Seal of England., bearing Charter dated 3 Date at Wejlminfler the third Day of September in the tenth Year of his faid late Majefty's Reign, his Sept. 10 W. 3. Majefty created and eftablilhed the faid Corporation, or Body Politick, called, The General Society enti- Ths General tied to the Advantages given by an Ati of Parliament, for advaticing a Sum not exceeding two Millions, for the '^""^'^l- Service of the Crown y*" England, with fuch Powers, Privileges, and Benefits as are therein expreli'ed : 9 *"' '° ^ ^' And whereas by Letters Patents under the Great Seal of England, bearing Date at Wejlminfler the fifth charter 5 Scot. Day of September in the faid tenth Year of his faid late Majefty's Reign, reciting, That the Subfcribers towards the faid Sum of two Millions therein particularly named and exprelied, were willing and de- firoais to unite or join together their feveral Shares or Interefts in the principal Stock of the faid Gene- ral Society, or in their proportionable Annuities, or yearly Payments ilfuing 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 eftablifh, that the Sub- " ■ fcribers therein particularly named, and every of them, and all and every Perfon and Perfons, Bodies Politick and Cc»'porate, who as Executors, Adminiftrators, Succeffbrs, or Affigns, or by any other lawful Title, derived, or to be derived from, by or under the fame Subfcribers, fliould have and be eji- titled to any Part, Share, or Intereft of or in the faid yearly Fund by the faid Aft fettled, as aforefaid, or of or in the proportionable Annuities or yearly Payments iffuing out of the faid yearly Fund, fo long as they refpeftively fhould have any fuch Part, Share, or Intereft: therein, to be one Body Politick and Corporate, by the Name of The Englifh Company trading to the Eaft Indies, with fuch Benefit of Trade, Engli* Corn- Powers, Privileges, and Advantages, and fubjeft to fuch Reftriftions, Conditions, Covenants and Agree- P^"/ trading to ments, as are therein exprefled. And whereas by another Aft of Parliament made in the eleventh Year of his j'^j'^^jVw'"* faid late Majefty's Reign, reciting, That John Dubois, oi London, Merchant, had, by Direftion of, and in c. 4 a private Truft for the Corporation of the Governor and Company of Merchants of London, trading into the Eajl Aft, Indies, fubfcribed and paid the Sum of three hundred and fifteen thoufand Pounds, as Part of the faid Sum of two Millions, it was enaftcd, That the faid Governor and Company of Merchants of London trading into the Eaf Indies, fhould remain, continue, and be one Body Corporate and Politick by the Name aforefaid, fubjeft neverthelefs to be determined upon the Redemption of the Fund by the faid Aft granted : And whereas by an Indenture tripartite, bearing Date the two and twentieth Day of fuly^ in the Year of our Lord one thoufand feven hundred and two', made between your Majefty of the firft Part, the Governor and Company of Merchants oi London trading into the Eafl Indies oi rhz fecond Part, and the Englijh Company trading to the Eafi Indies of the third Part, it was (amongft other Things) agreed, with your Majefty's Approbation, that the faid Governor and Company of Merchants oi London trading into the Eafi Indies, fhould purchafe fro.-n the Members of the faid Englifi Company fo.much of their Capital Stock as would make the Property of the faid Governor and Company of Merchants of Lon- don trading into the Eafi Indies equal to the Property which would then remain to the other Members of the faid Englijh Company trading to the Eafi Indies; and that the whole Trade which might or fhould be carried on during t'r.e Term of feven Years, to be reckoned from the Date of that Indenture, to and from the £«/? Indies, and other the Parts within the Limits aforefaid, for or in refpeft of their feveral Stocks and Funds thereby agreed to be united, fliould be for the Benefit and Behoof of all the Members of the faid Englijh Company trading to the Eafi Indies, proportionable to their Shares in the' Capital or principal Stock thereof; and that the faid Governor and Company of Merchants of London, trading into the Eafi-Indies, fhould have a Right and Power equal to the reft of the Members ot the faid Englifh Company, in the Direftion, Management, and carrying on of the faid Trade, du- ring the faid Term of feven Years, and that after the End or Expiration of the faid Term of kytn Years, the whole Trade to the Eafi Indies, and other the Parts within the Lim.its aforefaid, for or in refpeft of iheir united Stock and Fund, fliould for ever (fubjeft to the Redemption of the faid Fund by Parliament) be wholly managed and carried on by the faid ^kp-/;}^! Company trading to the ' Eaji