1756
Page 23 of 23.
The Scheme page 11.
River Stroudwater Navigable 11
and Form as those of many great Companies are: to be signed by the Treasurer, and witnessed by he Clerk, and so to be made transferrable (after the Work is completed) by Endorsement, and Entry in the Proprietor's Books. And that every Subscriber upon receiving the said Share do pay down 25l' upon each Share, and to be subject to such farther Calls (not exceeding in the whole 100l. per Share) as the Undertakers, or Committee, shall appoint, they giving 40 days Notice thereof; the Penalty upon Failure to be a Forfeiture of what shall be already paid, and of all future Benefit from the Fund.
That Five per Cent. per Annum be paid out of the said Fund to the Subscribers for all Money advanced for the Support of it, and to be reckoned from the Time appointed by the Undertakers for such respective Payments.
That the Undertakers (when appointed) do meet once a Fortnight at such Places as they shall fix within the Limits prescribed by the Act, 'till such Time as the Work is begun, and afterwards as Occasion shall require. That Three of the Undertakers (meeting by regular Adjournment) be deemed a Committee authorised to act in all Respects as if the whole Number were present.
And should there be a greater Number of Shares subscribed within the Time limitted than what is judged necessary by this Scheme, then every Subscriber of one Share to be entitled to that Share, and all Subscribers of larger Numbers of Shares to have a regular Proportion of them to be fixed by the Commissioners after the Manner of the last State-Lottery.
Other general Articles may perhaps be found necessary; these I have now hinted not being intended or offered as a regular Plan, but only submitted to the Commissioners and the Publick for Improvement; as indeed is the whole Scheme, rather to shew how it may be done than as an invariable Rule by which to execute it. Far be it from me to think myself equal to such a Task; nor do I claim any other Merit to myself than that of encouraging a favourable Disposition, which I have long wished for, to promote so valuable an Acquisition to this Country, and in that of endeavouring that what hath
been hitherto done in it should not deceive, but that it should have as solid a Foundation to build upon as the nature of the Thing will admit, or Human Foresight can pretend to determine: And, should it prove instrumental in promoting the Execution of the Work proposed by it, I shall think myself amply rewarded for all the Time and Pains that I have taken in it.
F I N I S.
