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B01440 Articles of agreement, concluded, made, and agreed on this twenty eight day of May, in the year of our Lord, one thousand six hundred ninety and four, between the royal free burrows, cities, and others of their Majesties antient kingdom of Scotland, who shall be pleased to subscribe, and be concerned in the Scots linen-subscription-book, for the linen-manufacture in that kingdom of the one part; and Nicolas Dupin of the city of London Esquire, in trust for the members and subscribers who shall be hereafter pleased to subscribe, and be concerned in the aforesaid linen-manufacture in England, of the other part. Dupin, Nicholas. 1694 (1694) Wing A3833B; ESTC R233252 14,214 15

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ARTICLES of AGREEMENT Concluded Made and Agreed on this Twenty eight Day of May in the Year of our Lord One Thousand six hundred ninety and four between the Royal Free Burrows Cities and others of Their Majesties Antient Kingdom of Scotland who shall be pleased to Subscribe and be Concerned in the Scots Linen-Subscription-Book for the Linen-Manufacture in that Kingdom of the one Part AND Nicolas Dupin of the City of London Esquire in Trust for the Members and Subscribers who shall be hereafter pleased to Subscribe and be Concerned in the aforesaid Linen-Manufacture in England of the other Part. 1. IMprimis That it is Declared and Agreed that there shall be a general Joynt Stock of Thirty Thousand Pound Sterling to carry on the Linen-Manufacture in the aforesaid Kingdom of Scotland and that the said Stock shall be divided into sixty hundred Shares or Parts in manner and form following That is to say Thirty hundred Shares or Parts being the one Moyety of the aforesaid Sixty hundred Shares shall be Subscribed by the Subscribers in the aforesaid Kingdom of Scotland who shall hereafter Subscribe for the same at Five Pound Sterling for each and every one of the aforesaid Thirty Hundred Shares 2. Item That there shall be Thirty hundred Shares or Parts more to be Subscribed for in England by the Subscribers who shall Subscribe for the same at five Pound Sterling as aforesaid for each and every one of the aforesaid Thirty hundred Shares being the other Moyetie of the aforesaid Sixty hundred Shares which said sixty hundred Shares at five Pound Sterling per each and every Share amounts to the sum of Thirty thousand Pound Sterling as aforesaid and the same to be paid at four several even and equal Payments THAT IS TO SAY The Sum of One Pound five Shillings Sterling being the first Payment to be paid to the Scots and English Linen-Treasurers hereafter to be chosen at the Cities of Edinburgh and London for each Shate they shall Subscribe for on the first Day of Nevember next ensuing the Date of these Presents or within fourteen Days then next following and the like Sum of One Pound five Shilling Sterling more being the second Payment to be paid on the first Day of May then next following or within fourteen Days then next after which will be in the Year of our Lord One Thousand six hundred ninety five and the like Sum of One Pound five Shilling Sterling more being the Third Payment to be paid on the first Day of November then next following or within fourteen Days then next after And lastly The like Sum of One Pound five Shillings Sterling more being the fourth and last Payment to be paid on the first Day of May then next following or within fourteen Days then next after which will be in the Year of our Lord One Thousand six hundred ninety six 3. Item It is further Agreed That in case any Subscribers in the aforesaid Kingdom of Scotland should not pay in or cause to be paid in to the Scots Linen Treasurer at the City of Edinburgh for the time being the aforesaid Sum of One Pound five Shillings Sterling being the first Payment to be paid on the first 〈…〉 or within fourteen Days thence next following as before limited That then and in that case such Person or Persons Subscriptions shall be void to all Intents and Purposes as if he or they had never subscribed and that then it shall and may be lawful to and for the Scots Society and Subseribers or Major Part of them at the said City of Edinburgh to have full Power and Authority to Nom in at and Appoint a Committee consisting of six Persons at least who shall have full Power to Sell and Transfer into the Transfer-Book or Books to be provided for that purpose under the Common Seal or other ways of the sald Scots Society and Subscribers as aforesaid all or any of the said Shares when Forefeited as aforesaid to such Person or Persons who shall be willing to buy the aforesaid shares so Forfeited as aforesaid at the same price and rate as they were first Subscribed for And the said Money for the said Shares to be to the use of the Joynt Linen Stock and that then the said shares so Transferred shall be good and valid to the New Purchaser to all Intents and Purposes 4. Item It is further Agreed That in case any Subscribers in the aforesaid Kingdom of England should not pay in or cause to be paid in to the English Linen Treasurer at the City of London for the time being the aforesaid Sum of One Pound five Shillings Sterling being the first Payment to be paid on the said first Day of November next or within fourteen Days then next following as before limited that then and in such case such Person or Persons Subscriptions shall be void to all Intents and Purposes as if he or they had never Subscribed and that then it shall and may be also lawful to and for the English Society and Subscribers or major part of them at the said City of London to have full Power and Authority to Nominat and Appoint a Committee consisting of six Persons at least who shall have full Power and Authority to Sell and Transfer into the Transfer Book or Books provided for that purpose under the Common Seal or otherways of the said English Society or subscribers as aforesaid all or any the said Forefeited shares aforesaid to such Person or Persons who shall be willing to buy the aforesaid Shares so Forfeited as aforesaid at the same price and rate as they were first Subscribed for and the said Money for the said Shares to be to the use of the general joynt Linen-Stock and that then the said Shares so Transferred shall be good and valid to the New Purchaser to all Intents and Purposes 5. Item It is also Declared That in case of failour of payment in of all every or any of the aforesaid remaining three respective Sums of One Pound five Shilling Sterling per Share in the above Articles meentioned as aforesaid to be paid at the several Days of Payment above limited according to the true Intent and Meaning thereof for the space of one Month next after any of the said Days of Payment on which the same ought to be paid as aforesaid that then and in such case every such Person or Persons making such Desault which hinders the Trade for non-payment shall from time to time upon every such failure respectively Forfeit and pay to the Linen Treasurer in any the saids Kingdoms where such Forfeiture for non-payment shall be the Sum of five Shillings Sterling per each Share for the time being in Committee assembled for the use and benefit of the general joynt Linen Stock for each and every share and shares that shall be so unpaid for and in arrear until all the Money due for the said Shares and all the said Penalties Arrears and Forfeitures due for the
same shall be fully satisfied contented and payed and that the Share and Shares of each and every such Person or Persons making such Default as aforesaid shall from time to time and at all times hereafter be subject and lyable to all such payments penalties and forfeitures until the full value of the said Shares of such Person or Persons so in arrear be spent out and determined and the said Shares to be sold and disposed of by the Linen Committee of Trade hereafter to be chosen to any Person who will give most for the saids shares to answer the aforesaid Debts 6. Item It is further Declared that there shall be two Linen Treasurers chosen viz. One Treasurer to be chosen at the said City of Edinburgh by the plurality of Votes of the joynt Proprietars in Scotland And another Treasurer to be chosen at the City of London by the plurality of Votes of the joynt Proprietars in England Which afotesaid two Treasurers shall give good and sufficient Security in Scotland and England to the liking and Satisfaction of the Major part of all the joynt Proprietars for the time being and that the said Treasurer and Treasurers shall be chosen immediatly after and so soon as the subscription Book or Books are filled and shut up which will be on or about the first day of November next ensuing the date of these Presents or within fourteen days then next after 7. Item That the said Linen Treasurers shall make up their Accompts in both Kingdoms once in every four Months of what Money they have received and what Money they have payed out and what Money they have in their hands and what Debts are due to the Company and by whom due and where the said Mony is lodged and give an account of the same in writting to the Courts and Committees at Edinburgh and in London and send a true Coppie of the same to each Kingdom and that the said Treasurers shall not pay any Money out of the Linen joynt Stack they nor either of them shall have in their hands without a warrand first Signed by five Affistants at least the Governour Deputy Governour or Chair-men hereafter to be chosen at the next General Court to be always one of the five 8. Item That there shall be two Books for Subscriptions and Transserrs and whatsoever Orders Penalties and Laws shall be write and Signed in one Book shall be also write and Signed in the other with the several Seal or Seals of the Subscribers in each Kingdom of Scotland and England And that one of the saids two Books shall be kept by the saids Scots Society at the said City of Edinburgh or by such persons as the Linen Court or grand Committee or Major part of them in that City shall think fit such Book keepers giving good Security to the liking and Satisfaction of the said Court or Grand Committe aforesaid And another of the said Books to be kept by a Commitee thereafter mentioned as the plurality of Votes of the joynt Proprietars in the City of London shall think fit he giving such Security to the said English Linen Committee as aforesaid Which said two Subscription Books shall not be removed out of one Kingdom into another after that these Subscription Books are filled and delivered to each Kingdom on pain to forfeit the Sum of One Thousand Pound Sterling to be payed in to the Linen Treasurers for the time being by the Linen Members of that Kingdom who shall suffer their own Transfert Books to be removed out of one Kingdom into another as aforesaid and the said One Thousand Pound when Forfeited to be payed to the Sole use and benefite of the general Joynt Linen Stock 9. Item It is further Declared that it shall and may be lawful to and for the said Scots Society to Sell and Transferr their own Shares or any number of them they shall Subscribe for in Edinburgh in their own Transferr Books And 〈◊〉 shall and may be also lawful to and for the said English Societie to Sell and 〈◊〉 ferr their own Shares or any number of them they have Subscribed for or otherways in their own Transferr Book at London 10. Item It is also Declared that thereshall be in the said City of Edinburgh in the Scots Linen Company thirty Affistants and out of the said thirty Affistants a Governour Deputy Governour and Treasurer shall be Elected and chosen But in case there shall be no Governour nor Deputy Governour Elected or chosen as aforesaid that then in such case there shall be a Chairman chosen in their Rooms Which aforesaid thirty Assistants Governour Deputy Governour Treasurer or Chairman shall be chosen by the pluralitie of Votes of all the Joynt Proprietars at Edinburgh in Scotland at the first General Court or Grand Meeting which will be on or about the first day of November next or within fourteen days next after 11. Item It is also Declared that there shall be in the Scots Linen Company at London thirty Affistants and out of the aforesaid thirty Affistants a Chair-man shall be Elected and chosen which aforesaid thirty Affistants and Chairman shall and may be chosen by the plurality of Votes of all the Joynt Proprietars at the said City of London in England at the first General Court or Grand Meeting there which will be on or about the aforesaid first day of November next or within fourteen days then next after 12. Item That a Committee of Trade consisting of six Persons shall always Annually be chosen nominated and appointed out of the aforesaid thiry Affistants for to meet and sit at the City of Edinburgh in the said Kingdom of Scotland as often as necessary occasion shall Require in manner and Form following That is to say The Committee and Members at London who shall have the Major part or greatest numbers of Shares shall and may have full power and liberty to choose nominat and appoint three persons whereof their principle Agent for the time being may be always one to direct Sir serve and Affist in the said Scots Linen Committee of Trade at the said City of Edinburgh AND in like manner the Governour or Chair-man and Affistants of the Scots Linen Society for the time being may have liberty to choose nominat and appoint three persons to sit with the other aforesaid three persons which together makes up the aforesaid six to be a Committee of Trade to sit direct serve and Affist in the said Scots Society and Committee of Trade at the said City of Edinburgh Which said Scots Linen Committee so chosen shall have a Competent allowance out of the said Scots Linen Joynt Stock for their trouble and pains Reserving to the plurality of Votes of the Major part of the Joynt Proprietars in both Kingdoms power to increass or lessen the number of Agents as they shall think fit 13. Item It is also agreed that the Subscribers shall have liberty to transfer 〈◊〉 own Shares in their own Transfer-books