Tue 14 Jun 1796
Meeting at House of Mr Joseph Sills, 217 Upper Thames Street, London
As it appears notwithstanding the advancement of fifteen pounds per share in December 1793 (which has been made by about two thirds of the proprietory only) and the subsequent subscriptions for half shares ( which had not been adopted by a greater proportion of the whole body) That the net profits of the tolls arising from the navigation are as yet insufficient to discharge the growing interest due to the mortgagees and Bond creditors at the regular stated times.
It is resolved that the payment of interest on all mortgages and bond securities shall be postponed. What money is available to be applied to increasing the stock of boats for carrying trade and the purchase of coal.
Proprietors who have not taken up half shares must do so.
Resolved also that the trade of the company and the coal stocks and funds for carrying and the profits be under the direction of a committee distinct from the General Committee.
Sir Edward Littleton, Edward Loveden Loveden Esq, Christopher Chambers Esq, James Perry Esq, Thomas Lane Esq, James Black Esq, Brownlow Bate Esq, Lowbridge Bright Esq, Robert Rollaston Esq, be a committee for the purposes of superintending, directing and managing the trade of the company and the stock and funds. Three members to be a quorum and committee to report to the general committee to be held in London between Lady Day and midsummer.
