Page:Ruffhead - The Statutes at Large - vol 5.djvu/255

 A. D. 1718. Anno quinto Georgii Regis. C. 19. 215 Lottery-annuities and Arrearages which fliall be actually fubfcribcd as aforefaid, at the Rates before-men- tioned, purfuant to this Adt, wall and may be deducted, defalked and recouped for or towards fatisfying and making good the faid Deficiencies of the faid yearly Funds and yearly Sums fo growing due at or up- on the Quarter-day next preceding the refpedlive Times by this Act prefcribed for making each fubfequent Payment by the faid Corporation as aforefaid. XVI. And be it further enacted by the Authority aforefaid, That in cafe the faid Corporation of the Company ma- Si/tth-Se'i Company (hall make Failure in Payment of the faid Sum of feven hundred feventy-eight thou- £ ln 6 F ' llu " ; of fand feven hundred and fifty Pounds, or of the faid proportional Part thereof, at the Days and Times herc-- fu "^ mc ' 1t m ^ be by limited for the i ayment of the fame, having fuch Deductions, Defalkations and Abatements as by this Ait are prefcribed, tiien the Money whereof fuch Failure in Payment fhall be made, fliall i.nd may be re- covered in his Maj, dry's Name for the Purpofc before-mentioned, by Action of Debt or upon the Cafe, Bill, Suit or Information in any his Majefty's Courts of Record at JVeflminJier, wherein no Eflbin, Protection, Privilege or Wager of Law fhall be allowed, or more than one Imparlance ; in which Action, Bill, Suit or Information it mall be lawful to declare, That the Governor and Company of Merchants of Great Britain trading to the South-Seas and other Parts of America, and for encouraging the Fifhery, are indebted to the King's Majefty the Money of which they fhall have made default in Payment, according to the Form of this Statute, and have not paid the fame, which fhall be fufficient ; and in or upon fuch Adtion, Bill, Suit or Information there fhall be further recovered for the Purpofe aforefaid, againft the Defendants, Damage after the Rate of ten Pounds per Centum per Annum, for the Monies fo unpaid con- trary to this Act; and the faid Corporation and dieir Stock and Funds fhall be and are hereby made fub- ject and liable thereunto. XVII. And be it further enacted by the Authority aforefaid, That the faid Value computed at the faid The Annuities. Rate of eleven Years and a Half's Purchafe, for the faid Term of twenty -three Years and three Quarters &c - f " bl ' crib «), of a Year, of and in the faid Lottery-annuities, or fo many of them as lhall be actually fubferibed, pur-'P; b ^ urmcd t0 fuant to this Act, on or before the faid twentieth Day of June one thoufand feven hundred and nineteen, stock?' * and the faid Arrearages for one Year and a Quarter, computed to amount to one hundred fixty-eight thou-, land feven hundred forty-eight Pounds and five Shillings as aforefaid, or fo much thereof as fhall be actually fubferibed purfuant to this Act, at any Time or Times on or before the faid twentieth Day of "June one thoufand feven hundred and nineteen, and alfo the faid Sum of feven hundred feventy-eight thou- Jand feven hundred and fifty Pounds, or fo much thereof as fliall be actually advanced within the refpec- tive Times before limited in that Behalf by the faid Corporation (including therein the Deductions by i this Act allowed to be made out of the fame for the refpedlive Caufes and Purpofes aforefaid) fhall be and be deemed an additional Stock of the faid Corporation, and fliall be united to the prefent capital Stock of, fhall be and be called the capital Stock of the faid Corporation ; and the Commiifioners of the Treafury, Treafurytocom- j or any three or more of them now being, or the High Treafurer, or any three or more of the Commiflion-P ute r, he addil ' 1 - ! ers of the Treafury for the Time being fliall, and they are hereby impowered and required to caufe the onal Stock " Sam Total of the faid additional Stock to be computed and adjufted, as foon as it can conveniently be ' known and adjufted, and to declare and determine the fame by an Inftrument in Writing under his or their Hands and Seals, which fliall be entred in the proper Book or Books of the faid Corporation ; and that every Member of the faid Corporation (as well thofe to be incorporated into the fame, by virtue of Every Member this Adt, as all other Members thereof) fhall, from and after the twenty-fifth Day of December one thou- to have Credit in fol fand feven hundred and eighteen, have Credit in the Books of the faid Corporation, for his, her or their [|? e ?P oks . Proportion or Share of and in the whole capital or joint Stock of the faid Corporation fo increafed, and i ncre afed Stock of and in all the Dividends, Profits and Advantages whatfoever to attend the fame, except as herein after is from 15 Dec. otherwife provided. 1718. XVIII. And be it further enacted by the Authority aforefaid, That the faid Governor and Company of The Company to. Merchants of Great Britain, and their Succeffors, fliall have, receive and enjoy, and be entitled by virtue have 5 •- P er of this Act to have, receive and enjoy for the faid additional Stock, to be computed, adjufted and deter- ^"^"J ^ ck mined, as aforefaid, an Annuity or yearly Fund, after the Rate of five Pounds per Centum per Annum,. which fhall be and is hereby declared and enacted to be united to and confolidated with their faid prefent Annuity or Fund of five hundred thoufand Pounds per Annum, and the faid yearly Funds fo united fliall be and be called the increafed yearly Fund of the faid Governor and Company. XIX. And it is hereby enadted, That the faid Annuity, after the Rate of five Pounds per Centum per Thefaid Annui- Aimum, for the faid additional Stock, fliall commence and be reckoned to commence from the Feaft of thety of 51. per Birth of our Lord Chrift one thoufand feven hundred and eighteen, and have Relation from that Time in Cent, tocom- point of Payment, when the fame fliall be adjufted, as aforefaid, and that fo much thereof as fliall be pay- q^^^° lg able to the faid Governor and Company for the faid Sum of feven hundred feventy-eight thoufand feven and be paid quar' hundred and fifty Pounds, or the proportional Part of the fame, which fliall be actually advanced by themterly. (including therein the Deductions by this Act allowed to be made thereout, as aforefaid) fliall be payable, and be accounted to grow due to the faid Governor and Company, and their Succeffors, and be paid to them or their Cafliier for their Ufe, at and for the four moft ufual Feafts in the Year, that is to fay, The Feafts of the Annunciation of the Bleffed Virgin Mary, the Nativity of St. John Bapti/l, St. Michael the Archangel, and the Birth of our Lord Chrift, by even and equal Portions, or within twenty Days af- ter every of the faid Feaft-days until the Redemption thereof by Parliament according to the Provifoes and Powers of Redemption herein after contained ; the ftrft of the faid quarterly Payments to become due 5 and
 * ten Millions now belonging to the faid Corporation : And the faid prefent and increafed Stock fo united,