722 A. D. 1702. 



power, equal to all the reft of the members, in the management of the 

 trade during the laid feven years, but to keep their Hock in their poli- 

 tic or corporate capacity for tlie faid term, without transferring it to 

 their particular members. 



III) Ti;e old company's dead ftock (viz. forts, fiftories, buildings, 

 &c.) being valued at L33o,ooo, and that of the new company but at 

 L7o,ooo, the new one (hall therefor pay Li 50,000 to the old one, to 

 make up L200,ooo for their moiety of the whole dead ftock, being 

 now L400,G00, intended to be a new additional ftock on the joint bot- 

 tom. 



IV) But the old company, during the faid feven years, ftiall have the 

 ufe of their dead ftock at home, (i. e. their office and warehoufes in 

 Leadenhall ftreet, &c.) which Ihall then go to the united one, compre- 

 hending the proprietors of both companies. 



V) During the faid feven years (from the date hereof) each com- 

 pany fhall hold their diftindl courts * ; ftiall have diftin6t courts of di- 

 redors : may raife money two ways, viz. either for their refpedive 

 moieties of the united trade, or to tranfact their own feparate affairs, 

 (fucli as paying their own feparate debts, Sec."); but debts contracted 

 for the joint trade Ihall be difcharged out of the united company's 

 ft&ck. 



\'i and VII) Both companies ftiall forthwith bring home their fepa- 

 rate ellate, dividing the fame amongft their refpedive members ; after 

 which, neither company ftiall fend out any fhips, goods, &c. on their fe- 

 parate account, but all fliall be on the joint account, by fuch orders as 

 fhall be made by the general courts of both companies, in the name of 

 the Englifh company trading to the Eaft-Indies, by diredion of twelve 

 diredors out of each company, fubordinate to both the general courts. 



VITl and IX) Both companies fliall bear an equal proportion of the 

 united trade, and the members of each may transfer their nominal 

 ftocks in the books of their refpedive company, but fo as the old com- 

 pany fliall keep their moiety of ftock entire in their corporate capacity 

 for the faid feven years. 



X) Both companies covenant with her majefty that the joint account 

 fliall export annually to India, of the growth, produd, or manufadure, 

 of England, at leaft one tenth part of the whole fum they fhall trade 

 for ; an account whereof ftiall be annually delivered to the privy coun- 

 cil ; hereby releafing both companies from all former covenants, falt- 

 petre excepted : of which merchandize they ftiall be obliged to deliver 

 to the office of ordnance 4947 tons, at L45 per ton in time of peace, 

 and at L53 in time of war; the retradion thereof fettled at 15 per 

 cent. 



' XII) The queen agrees to take the company's fealed bonds for all 



* The new company's office was at Skinners hall on Dow,Tate hill. A. 



