Selected quad for the lemma: authority_n
Text snippets containing the quad
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A55655
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The preamble to be subscribed by all persons, who shall become adventurers in a national joynt stock, for the trade to East-India
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1698
(1698)
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Wing P3198; ESTC R221808
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1,283
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1
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THE PREAMBLE TO BE Subscribed by all Persons who shall become Adventurers in a NATIONAL JOYNT STOCK for the Trade to East-India THE Committee of the Honourable House of Commons Appointed to Consider of the most proper Method for Managing the East India Trade to a more General and Publick Benefit to the Whole NATION than it has hitherto been Having Declared their Opinion on the 16 th day of this Instant January That the best Way of Managing that Trade is by a NEW COMPANY with a NEW JOYNT STOCK to be Established by Act of PARLIAMENT WE whose Names are hereafter Written upon the aforesaid Encouragement and in Dependance upon such an Establishment by Authority of KING and PARLIAMENT as also in farther Assurance That the present East India Stock and the Estates and Persons of the Managers thereof shall by the said Authority be obliged to Pay and Satisfie all Just Debts and Demands due to the Subjects of the Great Mogoll and King of Siam and all other Natives of India either for Monies Borrowed on Credit or for Injuries and Violences Committed and That the said present Stock shall Defray the Charge of making Peace with the said Indian Princes DOE HEREBY each Man for himself severally oblige our selves to become Adventurers in the said NATIONAL-JOYNT-STOCK for the particular Sums of Money by Us Hereunto respectively Subscribed to be paid in Manner and Form following Viz. One fourth part thereof within three Months after the said Act of Parliament hath passed and those who shall pay in their Money sooner shall have Interest allowed for the same One other Fourth part thereof within Six Months after the Expiration of the said Three Months And the remaining Half at such several Payments as the Governour and Committees to be appointed for the Management of this STOCK shall think fit giving three Months Publick Notice for the said Payments And we doe hereby farther Agree as followeth viz. That the Books for Subscriptions shall lyeopen Sixty Days from the One and Twentieth day of January Instant or until the Sum of Twelve Hundred Thousand Pounds be Subscribed and then to be Closed unless the Parliament in their Great Wisdom shall otherwise Direct That no Person shall be Admitted to Subscribe for himself or any other or to be Concerned in the said Stock either in his Own or any others Name directly or indirectly any greater Sum than Ten Thousand Pound or to Subscribe any less Sum than One Hundred Pound That when the Sum of Four Hundred Thousand Pound shall be Subscribed Publick Notice shall be given thereof and a General Meeting of the Adventurers Summoned for the choosing a Committee to act on behalf of the said STOCK for the mor speedy obteyning the said Act of Parliament upon such a Constitution and with such Powers and Priviledges as to the Wisdom of the Parliament shall seem meet and to do such other matters as shall be given them in Charge by the General Court That at all General Courts of Adventurers every Member who hath Subscribed Five Hundred Pound shall have one Vote and that no greater Sum at first Subscribed or afterwards Purchased shall Entitle any Adventurer to more than one single Vote the contrary whereof hath been found so fatally Pernicious to the Nation and the present Company And for the more Regular and Orderly Management of this National Joynt Stock for the PUBLICK GOOD WE the Adventurers do hereby farther Oblige our Selves to the faithful Observance of these and such other farther Rules and Orders for Managing of the said Trade during the Continuance of this Stock as shall from time to time be made by a General Court of the Adventurers or by a Court of Committees to be by them appointed