Page:Ruffhead - The Statutes at Large - vol 5.djvu/372

 S3 2 c > 5' Anno feptimo Georgii Regis. Stat. i. A. D. 1720. feven hundred and twenty-feven, and afterwards at the fame Rate, until the Redemption thereof bv Parlia- ment according to the laid Act ; which faid Annuities or yearly Funds fo payable at the faid Receipt of Exchequer are neverthelefs liable to fuch Charges and Incumbrances, as in and by the faid Act are expreffed or mentioned concerning the fame. And whereas in and by the faid Act Proviiion was made, That nine thoufand three hundred ninety-feven Pounds nine Shillings and fix Pence per Annum, therein mentioned and feveral other Sums which were thereby directed to be computed and added thereunto, for Charges of Management, fhould from Time to Time be paid and payable to the faid Company in the Manner thereby prefcribed ; as in and by the faid Act (Relation being thereto had) may more fully appear. And whereas the faid South-Sea Company, in and by a Propofition agreed to in a General Court of the fame holden on or about the fecond Day of January one thoufand feven hundred and twenty, and fince prefented to us your Majefty's faid dutiful and loyal Subjects, have humbly offered, that a Sum not exceeding nine millions of the Capital Stock of the faid Soutb-Sea Company, together with an Annuity of five Pounds per Centum per Annum iffuing from the Exchequer, and payable weekly, be ingrafted into the Capital Stock of the Gover- nor and Company of the Bank of England, and be added to their prefent Capital Stock of five millions five hundred fifty-nine thoufand nine hundred ninety-five Pounds fourteen Shillings and eight Pence ; and that every Proprietor of the faid Sum fo to be ingrafted be entitled to a Share in the Capital of the faid Gover- nor and Company of the Bank of England, at the Rate of one hundred and twenty Pounds per Centum, that is to fay, for every one hundred and twenty Pounds in the faid Sum not exceeding nine millions to be ingrafted, each Proprietor to have one hundred Pounds Stock in the Bank ; that the remaining twenty Pounds per Centum, Part of the faid Sum not exceeding nine millions, (which, if the Whole be ingrafted, would make one million and an half) be referved for the common Benefit and Advantage of the Proprie- tors of the whole Capital fo increafed ; and that a certain Sum be annually allowed to the Governor and Company of the Bank of England towards their Charges of Management : And the faid Soutb-Sea Com- pany in the faid Propofition have alfo humbly offered, that a Sum not exceeding nine millions of the Capi- tal Stock of the faid South-Sea Company, together with an Annuity of five Pounds per Centum per Annum iffuing from the Exchequer, and payable weekly, be ingrafted into the Stock of the United Company of Merchants of England trading to the Eaft-Indies, and added to their prefent Capital Stock of three millions two hundred thoufand Pounds ; and that every Proprietor of the faid Sums fo to be ingrafted into the Capital of the United Company of Merchants of England trading to the Eajl-Indies be entitled to a Share in the Capital Stock of the fame Company, at the Rate of one hundred and twenty Pounds per Centum, that is to fay, for every one hundred and twenty Pounds in the laft mentioned Sum not exceeding nine millions fo to be ingrafted, each Proprietor to have one hundred Pounds Stock in the faid Eajl-India Com- pany; and that the remaining twenty Pounds per Centum, Part of the laft mentioned Sum not exceeding nine millions (which, if the Whole be ingrafted, will make one million and an half) be difpofed and diftri- buted in the Manner therein mentioned ; and that a certain Sum be annually allowed to the faid Eajl-India Company towards their Charges of Management. And whereas the faid Governor and Company of the Bank of England, in and by a Propofition agreed to in a General Court of that Corporation holden on or about the twenty-ninth Day of December one thoufand feven hundred and twenty, and fince prefented to us your Majefty's faid dutiful and loyal Subjects, have declared their Willingnefs to admit, that nine millions of the Capital of the South-Sea Company, together with an Annuity of five Pounds per Centum per Annum iffuing from the Exchequer, payable weekly, and free from all Incumbrances, be ingrafted into the Capital Stock of the Bank of England, and be added unto their prefent Capital Stock of five millions five hundred fifty-nine thoufand ninety-five Pounds fourteen Shillings and eight Pence ; and that every Proprietor of the fame Sums fo to be ingrafted be entitled to a Share in the Capital of the Bank of England, at the Rate of one hundred and twenty Pounds per Centum, that is to fay, for every one hundred and twenty Pounds in the fame Sum fo to be ingrafted, each Proprietor to have one hundred Pounds Stock in the Bank ; the re- maining twenty Pounds per Centum, Part of the fame Sum not exceeding three millions (which, if the Whole be ingrafted, would make one million and an half) to be referved for the common Benefit and Ad- vantage of the Proprietors of the whole Capital fo increafed ; and that a certain Sum be annually allowed to the faid Governor and Company of the Bank of England towards their Charges of Management. And whereas the faid United Company of Merchants of England trading to the Eaft-Indies, in and by a Propo- fition agreed to in a General Court of that Corporation holden on or about the third Day of January one thoufand feven hundred and twenty, and fince prefented to us your Majefty's faid dutiful and loyal Subjects, have declared their Willingnefs to admit, that a Sum not exceeding nine millions of the Capital of the faid South-Sea Company, together with an Annuity of five Pounds per Centum per Annum iffuing from the Ex- chequer, payable weekly, and free from all Incumbrances, be ingrafted into the Stock of the faid Eajl-India Company, and added to their prefent Capital Stock of three millions two hundred thoufand Pounds; and that every Proprietor of the fame Sum fo to be ingrafted be entitled to a Share in the Capital Stock of the faid Eajl-India Company, at the Rate of one hundred and twenty Pounds per Centum, that is to fay, for every one hundred and twenty Pounds in the fame Sum fo to be ingrafted, each Proprietor to have one hundred Pounds Stock in the Eajl-India Company ; the remaining twenty Pounds per Centum, Part of the fame Sum not exceeding nine millions (which, if the Whole be ingrafted, would make one million and an half) to be difpofed and diftributed in Manner following, that is to lay, fix hundred and forty thoufand Pounds thereof, being after the Rate of twenty Pounds/;;',- Centum, upon the faid Sum of three millions two hun- dred thoufand Pounds, to the then Proprietors of the fame Capital of three millions two hundred thoufand Pounds : And the Remainder of the faid twenty Pounds per Centum to and for the common Benefit and Advantage of all the Proprietors of the whole Capital of the faid Eaft- India Company fo increafed, which Remainder (if the whole nine millions be ingrafted) will amount to eight hundred and fixty thoufand Pounds; and that acertain Sum be annually allowed to the faid Eajl-India Company towards theirCharges .of Management. And whereas it is judged, that an Ingraftment of Part of the Capital of the South-Sea ' Company