144 ^' ^' 1728. 



' tor of 20 fliares (hall have 20 votes ; and none fhall have any more 



* votes than 2C, although their fliares be ever fo many. 



IX) ' If any two directors fliall be difTatisfied with the conduct of the 

 ' other directors, they may fummon a general court to acquaint the 

 ' company therewith. 



X) ' The general courts have plenary power to do whatever they 



* fhall judge convenient for the advantage of the company. 



XI) ' The new fliares to be fubfcribed fliall not exceed 2250, i. e. 



* in the whole ; and the new or additional fl:ock fliall not exceed 

 2,250,000 rixdollars.' 



N. B. There were 25 other articles of lefler importance. 



To thefe propofals the old company, for removing any objections 

 which might be made in refpecl to their circumftances, added, that 

 they had very valuable efFeds, fuch as, the town of Tranquebar, a very 

 important place, with 200 pieces of cannon, befides ammunition, and a 

 yearly income of 10,000 crowns, and alfo feveral duties and revenues, 

 increafing every year in proportion to the increafe of inhabitants. That 

 they alfo had the cafl;le of Danneburgh on the rich coaft of Coroman- 

 del, conveniently fituated for trade, and particularly for pearls and dia- 

 monds ; alfo Porto-novo, on the fame coafl ; two fhips, with their car- 

 goes, now at fea, bound to Tranquebar ; and fome other fliips and fac- 

 tories, &c. From all which particulars, a nearly exadl flate of the 

 Danifli Eafl:-India company's circumflances and commerce may be- 

 gathered ; not much, however, to their advantage. 



There arrived at London, from foreign ports, between chrifl;mas 

 1727 and chrifl:mas 1728, 1839 Britifli fliips ; 21 3foreign fhips ; and 

 6837 coafl:ers ; being in all 8889 veflels. The number is confiderably in- 

 creafed in later years. 



By an act of parliament, in the fecond year of King George 11, for 

 raifing the fum of Li, 250,000 by fale of annuities to the bank of 

 England, &c. the bank advanced that fum to the public at 4 per cent 

 intereft, charged on the furplufl^es of the fund of lottery 1714, redeem- 

 able from midfunimer 1730, by payments of not lefs than L5oo,ooo at 

 a time. Yet this low intereft obliged the bank to reduce their dividend 

 from 3 to 2 1 per cent at michaelmas 1730, for that half year*. 



A ftatute was made this year for regulating the watermen on the 

 river Thames. 



A new ad was this year made for the better prefervation of his 

 majefty's w-oods in America, and for the encouragement of the import- 

 ation of naval ftores from thence ; and to encourage the importation 



* The account inferted by Mr. Allardycein the in September of the fame year. And in the two 

 appenlix to his Addrcjs to the proprietors of the following years (1731 and 1732) he alfo flates 

 hank, dates the rediiftlon of the bank's dividend the March dividend at^j.-c, and the September one 

 from nine tb Jh per cent per annum in March alj!ve and a half, per cent per annum ; at wliich 

 173c, and the iurther reduction lojive and a half later rate it continued till March 1747. M. 



I 



