Thu 1 Apr 1779
General Meeting
Tonnage received from the 8 October 1778, £180 3s 10d, to be applied to completing the Navigation.
Original subscription = £20,000 plus an additional £10,000 plus money from tonnage has nearly all been laid out. Only a balance of £830 is left and to complete the canal the Company needed £2,000.
Proprietors present voted to subscribe the necessary £2,000 the money to be recouped out of the tolls and tonnage with lawful interest.
20 subscribers each promied to pay £100, with 4 payments each month between May and September.
At a General Meeting of the Proprietors of the Stroudwater Navigation held this 1^st day of April 1779 at the George Inn in the Town of Stroud.
James Winchcombe in the Chair.
The Minutes of the last Meeting were Read and Confirm'd.
The Several Books and Accounts were produced respecting the affairs of the Company (as desired by the Act of Parliament) and examined and Confirm'd.
Ordered that the mony Rece'd for Tonnage from the 8^th of October last to this day amounting to the Sum of One Hundred and Eighty Pounds three Shillings and Tenpence be paid into the Treasurers Hands and apply'd towards Compleating the Navigation.
Resolved that the following Persons do Constitute a Committee for the ensuing year ~~ Viz:
James Winchcomber, Anthony Keck, Joseph Wathen, Thomas White, William Knight, Thomas Hayes, John Hollings, Thomas Baylis, Freame Arundell, James Dallaway, John Allaway, Richard Bigland, Benjamin Grazebrook.
At this meeting the Committee of Proprietors produced their Acc^t of all and every Sum and Sums of money Rece'd from the several Proprietors for and in respect of their Shares of and in the said Navigation and of all and every Sum and Summs of Money paid out and expended in the prosecution of the said undertaking Whereby it appears that the Original Subscription of £20,000 and the Additional Subscription of £10,00 Authorised to be raised by Act of Parliament passed for that purpose have together with the money Rece'd for Tonnage been nearly laid out and expended in the Works of their Navigation and that there is only a ballance of £830 now in hand towards compleating the same which is not sufficient for the purpose. And whereas the Sum of £2,000 will be wanting to Compleat and perfect the said Navigation which Sum the Proprietors have no power under the said Act to advance and raise onthe Creditt of the said Tolls arising from the said Navigations and therefore some of the Proprietors in order to prevent a stopt being putt on the Navigation and being desireous to have the same Speedily Completed as well for the Public good of the Country in General as of the Body of the Proprietors in particular have Voluntarily proposed to Subscribe the said Sum of Two Thousand Pounds for that purpose the same to be repaid to them out of the Tolls and Tonnage at the times and manner hereinafter mentioned with lawfull Interest for the same Provided that the Subscribers shall be indemnified by the Proprietors in proportion to their respective Shares therein. To which proposal the Body of Proprietors now present at their Meeting considering the necessity and Expediency of the measure have acceded. Now therefore we the Proprietors of the said Navigation whose names are hereunto Subscribed do hereby promise and engage that the Subscribers of the said £2,000 and their respective Executors, Administrators and Assigns shall be and out of the Tolls and Tonnage arising from said Navigation for or in respect of our respective Shares which we are now respectively intitled to thereon being repaid the several Sums now respectively Subscribed in Priority according to the respective times of the Subscibers advancing the respective Sums Subscribed. And we do hereby declare that our respective Shares shall be charged and Chargeable with and become a Security for the respective Sum subscribed this day with Lawfull Interest for the same to comence from the respective times of payment of their respective Subscriptions. And we do hereby severally and respectively agree that the said Committee for the time being shall from time to time and they are hereby Authorised to apply all such Toll Duties and Tonnage that shall arise or be made from our respective Shares of and in the said Navigation in discharge and payment of the several Sums now Subscribed with lawfull Interest for the same according to the Priority of the Payment made of the said Subecribers, They the said Committee rendering to us from time to Time true and regular Accounts of the several Sums of Money Rece'd by them for the purpose aforesaid and to the Tolls and Tonnage Collected and how and in what manner the same and every part thereof have or hath been paid laid out and expended and produce such Accound fairly drawn out at the next General Meeting to be held for the perusal Inspection and allowance of the Body of Proprietors at Large.
As witness our Hands this 1st day of April 1779.
[Subscribers Names]
To be paid the 1^st of May:
Jas Wathen: 100
Tho^s Baylis for Mess^rs Hollings, Dallaway and Co (or Mr Butt): 400
W^m Savill: 100
Benj^m Grazebrook: 100
To be paid the 1^st of June:
Jn^o Hollings: 100
Sam^l Arundell: 100
Will^m Battersby: 100
To be paid the 1st of July:
J Colborne: 100
Rich^d Bigland: 100
J Winchcombe: 100
J R Aundell: 100
To be paid the 1^st of August:
W^m Knight: 100
Tho^s White: 100
John Gardner: 100
Chris Chambers: 100
To be paid the 1^st September:
J Dallaway: 100
John Butt: 100
James Croome: 100
Rich^d Aldridge: 100
Wittness Jos: Grazebrook.
We the Proprietors Assembled at the Meeting do hereby ratify and Confirm the above proposal and agreement as Witness our Hands.
34 signatures were witnessed by Jos: Grazebrook.
