Page:Ruffhead - The Statutes at Large - vol 7.djvu/184

 14.0' C. 21, Anno vice£mo fecundo Georgii II. A. D. 1749. Certain Siims to be applied ycavty fori-aifinga Fund of 30 !• in the Hands ofsvery IWinifter, and the Heads of the Univer/ities ; -and a Ca^pital of ro.coo 1. to be i"nt riiit as di- ■ rt;iitrd by lecitcd Surplus of the nrnuai Produce liow to be ap- plied. Deficiencies of the Surplus for Payment of the Annuities liow •to be made good, Capital Fund not to exceed 50,000 1, over and abj^vc 30 1. to be lent to each Miniller, Arc. Application of the Surplus, RcfuUitions touching the Management of the Capital. IV. And be it fuichcr enaftcd by the Authority aforefaid, That the Truftees named in or appointed by the faid recited A&, and acting for tlie time being in the Execution thereof, {hall order and direct, and take Care, that the Sums after mentioned fhall be applied, from Year to Year, out of the firft and readieft.of t!ie whole Produce, in virtue of the aforefaid recited Aft, after defraying the annual Expencc of Manage- ment (as fettled and limited by the faid recited A£l and this prefcnt Actj for and towards raifing and fecu- ring a Stock or Fund to the Extent of thirty Pounds of lawful Money of Gn'dt Britain, to and in the Hands of each Minifter in the Church of Scotland, and each Head, Principal or Mufter, in the faid Univer- {ities of Saint Judrews, Glafgow and Edin/iurgh, who (hall have become fubject to one or other of the an- nual Rates above mentioned ; and a further Sum of fifty thoufand Pounds like Money, of Capital, by thpir lending or caufingtobe lent out of the after mentioned Sums annually, in the Manner prefcribcd in and by the faid Aft; that is to fay. Three thoufand Pounds {hall be fo applied at the Term of fFbitfunday in each of the Years, from one thoufand feven hundred and torty-nine, to one thoufand feven hundred and fifty- two, both inclufive; two thoufand Pounds at the Term of Whitfunday each of the Years, from one thoufand feven hundred and fifty-three to one thoufand feven hundred and fifty-fix, both inclufive ; one thoufand Pounds at the Term of Wbitjimday in each of the Years, from one thoufand feven hundred and fifty-feven to one thoufand feven hundred and fixty-three, both inclufive ; four hundred Pounds at the Term of /iF/j/V/z^^za'rt)' in-each of the Years, from one thoufand feven hundred and fixty-four to one thou- fand feven hundred and feventy, both inclufive ; and two hundred Pounds at the Term of IVhitfunday in the Year one thoufand feven hundred and feventy-one ; and at the Term of Whitfimday in each Year thereafter, until each Minifter, Head, Principal or Matter, fubjeft to one or other of the annual Rates aforefaid, faall have received thirty Pounds in Loan; and likewife until the faid further Sum or Capital of fifty thoufand Pounds fnall have been made up. V. And be it further enafted, That if the annual Produce aforefaid, in any one Year, computed from Martinmas to Martinmas, fliall exceed the Charges of Management, and the Sums hereby ordered to be applied for raifing the Stock, and the Annuities due to the Widows, and Provifions due to the Children for that Year, and the Arrears of the Annuities and Provifions for former Years herein after mentioned (if any fuch were) fuch Excefs or Surplus {hall be applied to the Purpofe aforefaid, of raifing the Capital Stock or Fund, by lending out the fame along with the Sums herein before appointed to be lent out for fuch refpec- tive Year. _ _ i VI. Provided always, and it is enafted by the Authority aforefaid, That although the annual Surplus aforefaid, for any one Year, computed from A4artinmas to Martinmas, after Payment of the Charges or Management, and of the Sum hereby appointed to be applied for raifing of the Stock or Capita! Fund for that Year, fliall not be fufEcient to pay the whole Annuities to Widows, and Provifions to Children, pay-] able for that Year, in virtue of the faid recited Aft, and of this prefent Aft, yet no Incroachment fhall onj that Account be made upon the Capital, fo far as then raifed ; nor fliall the farther raifing thereof, accord-j ing to the true Intent and Meaning of this Aft, be thereby {topped or retarded, but fuch Deficiency on Short-comihg {hall firft affeft the Childrens Provifions prbportionably, and then the Annuities of all the Widows intitled proportionably, without Regard to the Order of Time in which thofe Provifions or AnJ nuities become due ; and the fame fliall again be made good to them out of the Surplus of the Produce computed as aforefaid, for the fucceeding Year or Years, in this Order, vi%. After Payment of t;he Ex3 .pence of Management, and of the Sum to be applied for raifing the Stock as aforefaid, the Widows A n«: nuities unpaid in the preceding Year, {hall be paid and made good in the firtt: Place _; and then the WW dows Annuities of the current Year; and after the faid Annuities, the Childrens Provifions of the fbrmen Year or Years, according to the Order of Time in which they become due to them, as aforefaid ; andla{t^ ly, the Childrens Provifions for the current Year. VII. Provided alfo, and it is hereby enafted, That the Capital Fund or Stock to be fettled and fecureij as aforefaid, ihall at no Time exceed the forefaid Sum of fifty thoufand Pounds, over and above the Sun of thirty Poimds lent to each Minifler, Head, Principal or Mafter as aforefaid ; and that after fuch Capita ihall be raifed, the Surplus of the annual Income, under the Management of the Truftees aforefaid, arW fine; in any one Year, computed from Martinmas to Adartinmas, after Payment of all the Burdens of than Ye'ar, including the Arrears of former Years aforefaid (if any be) {hall, at the ^/'7'///;^Wrt)' when fuch Sur-j plus arifes, be diftributed to, and divided amongfl, all the Widows then intitled to Annuities, and all the Children then intitled to receive Provifions ; fo as that each Widow and each Child, fliall receive a pro4 portionable Share of fuch Surplus, correfpondent to the Extent of the annual Rates of their deceafed Huf^ bands or Fathers. VIII. And be it further enafted by the Authority aforefaid, that all and every other Regulation, enafte^ by the faid recited Aft of the feventeenth Year of his Majefty's Reign, touching the Securing and Manage-i ment of the Capital Stock therein mentioned, and for making up any accidental Diminution of, or pre- venting any Encroachment upon tlie fame, after it fliall be made up, in Whole or in Part, fliall fubfiit, take Place and be in Force, with Regard to the Capital Stock hereby permitted to be raifed, when it fliall be foj raifed in VVhole or in Part, in the fame Manner as if cveiy one of the faid Regulations had been herein xz peated and le-cnafted. ' IX. And whereas the Old Church He of Edinburgh was found to be a Place fo inconvenient for th| ' Meeting of the Truftees appointed to execute the (iiid recited Aft of Parliament, that foon after their en- ' Charter Room for the Prefervation of their Books and Papers, a great Part of the Expence of which! ' whether the Debt incurred by the faid. Building, and the Expence of keeping it in Repair, be fuch neccf- ' fary
 * tering on the Execution thereof, they were obliged to build, and did caufe to be built, a Houfe within the
 * City of Edinburgh, containing a Hall for their JMectings, and Offices for their Colleftor and Clerk, and a
 * Building remains yet unpaid: And whereas Doubts have been raifed, whether the faid Truftees can le-
 * gaily hold any of the four Qiiarterly Meetings appointed by the faid recited Aft, in the faid Hall ; and