Page:Ruffhead - The Statutes at Large - vol 5.djvu/307

 A. D. 1 719. Anno fexto Georgii Regis. C. 4. 267 one Year's Purchafe, or any of them, or any Part thertof, at the refpeftive Times herein before limited for Payment thereof, or any of them, contrary to the true Meaning of this Aft, then and in every or any fuch Cafe and Cafes, the Money whereof fuch Failure in Payment fhall be made fhall and may be reco- vered in his Majcfty's Name for the Purpofe before-mentioned, by Aftion of Debt, or upon the Cafe, Bill, Suit or Information, in any of his Majefty's Courts of Record at Wejbninjler, wherein no Eflorrij Protection, Privilege or Wager of Law fhall be allowed, or more than one Imparlance ; in which Aftion, Bill, Suit or Information, it fhall 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 Ad-lion, Bill, Suit or Information, there fhall be further recovered for the Purpofe aforefaid againft the Defendants, Damage after the Rate of five Pounds per Centum per Annum, for the Monies fo unpaid con- trary to this Aft, and the laid Corporation and their Stock and Funds fhall be and are hereby made fub- jeft and liable thereunto. XLV1II. And for the better enabling the faid Governor and Company of Merchants of Great Britain, and their Succeflors, to raife Money to be paid, for or in Part of the laid Sum of four millions one hundred fifty-fix thoufand three hundred and fix Pounds four Shillings and eleven Pence, or for or in Part of the laid Sums to be paid after the faid Rates of four Years and an Half's Purchafe and one Year's. Purchafe refpeftively, or for purchafing or paying off all or any the Annuities and Debts to be taken in or paid off in purfuance cf this Aft, or for exchanging for ready Money the new Exchequer-bills to be made forth as hereafter in this Ait is mentioned, or for defraying the Intereft thereof, or for carrying on their Trade and other neceffary Oecafions : Be it further enafted by the Authority aforefaid, _ That it fhall and Company ni may be lawful to and for the faid Governor and Company of Merchants of Great Britain, and their Sue- ™ ake c ? lls of cellbrs, from Time to Time, as they fhall fee Caufe, to call in or direft to be paid from and by their re- ^Members fpeftive Members for the Time being, proportionably according to their refpeftive Interefts in the capital Stock or Stocks which do or fhall belong to the faid Governor and Company of Merchants of Great Bri- tain, and which fhall be increafed, as aforefaid, or by opening Books of Subfcriptions, or by granting or open Books of Annuities redeemable by the fame Governor and Company, and their Succeflors, or by any other Me- Subfcription, or thod, Ways and Means as they fhall think proper, to raife any Sum or Sums of Money, as in a general s raat Annmtics * Court of the fame Governor and Company fhall from Time to Time be judged neceffary, and ordered to be called in or railed ; and that all Executors, Adminiftrators, Guardians, Truftees and Mortgagees, fhall Executors, &cv be indemnified in paying, and are hereby impowered to pay in their refpeftive Proportions of the Money to pay. fo called in or raifed ; and in cafe any fuch Member or Members fhall refufe or negleft to pay his, her or Members not their Share of the faid Money fo called for at the Time or Times appointed for that Purpofe, by Notice P a V'"E> ti ^" ! ' inferred in the London Gazette, and fixed upon the Royal Exchange in London, It fhall and may be lawful to 1 toc e(i t0 & ^ and for the faid Governor and Company of Merchants of Great Britain, and their Succeflors, not only to ' flop the Share, Dividend, Annuity and Profits, which fhall from Time to Time become payable to fuch Member or Members fo neglecting orrefufing, of the Funds, Stocks, Annuities or Profits of the faid Go- vernor and Company of Merchants of Great Britain, and to apply the fame, from Time to Time, for or towards Payment of the Share of the Money fo called for, and which ought to have been paid by fuch Member or Members. fo neglefting or refufing, until the fame fhall be fatisfied, but alfo to flop the Trans- fers or Alignments of the Share and Shares of every fuch Defaulter and Defaulters, and to charge fuch Defaulter and Defaulters with Intereft, after the F.ate of five Pounds per Centum per Annum, for the Mo- ney fo by him, her or them omitted to be paid, from the Time the fame was appointed to be jiaid until the Payment thereof; and that the Share and Stock, Shares and Stocks of fuch Defaulter and Defaulters ihail be liable to make good and anfwer the faid Monies fo appointed to be paid, and the Intereft thereof, as aforefaid ; and in cafe the Principal and Intereft, as aforefaid, fhall be unpaid by the Space of three Months, then the faid Governor and Company of Merchants of Great Britain, or their Succeflors, or their Court of Directors for the Time being, fhall have Power to authorize fuch Perfon or Perfons as they fhall think fit, to fell, affign and transfer fo much of the faid Stock or Stocks of fuch Defaulter or De- faulters as will fatisfy and pay the fame, rendring the Overplus (if any be] to the Proprietor : And the faid Governor and Company of Merchants of Great Britain, or their Succeffors in a general Court, from Time to Time, when they fhall judge their Affairs will admit thereof, fhall or may caufe any Sum or Sums of Money which fhall be fo called" in, or any Part thereof, to be divided and diftributed to and amongft the then Members of that Corporation, according and in proportion to their refreftive Interefts in the capital Stock or Stocks of the fame ; any former Law or Statute, Reftriftion, or other Matter or Thing wnatfoever to the contrary notwithftanding. XLiX. And for better enabling the faid Governor and Company of Merchants of Great Britain, and their Succeffors, to raife Money to be advanced for or in Part of the faid Sum of four millions one hun- dred fifty-fix thoufand three hundred and fix Pounds four Shillings and eleven Pence, or for or in Part of the faid Sums to be paid after the faid Rates of four Years and an Half's Purchafe, and one Year's Pur- chafe refpeftively, or for purchafing or paying oft" all or any the Annuities and Debts to be taken in or paid off, in purfuance of this Aft, or for exchanging the new Exchequer-bills to' be made forth by this Act, or to defray the Intereft thereof, or for carrying on their Trade, and other neceffary Oecafions : It, is alfo hereby enafted by the Authority aforefaid, That it fhall arid may he lawful to and for the'faid Go- Company may "! veruor and Company of Merchants of Great Britain, and their Succeflors, from Time to "Time fin cafe borrow Money Mm % th£y unoertheir.com-