a Public Institution. 759 



Privileges of the Original Subscribers or Proprietors of the Institution. 



\nio. These subscribers, who will never be called upon for any 

 further contributions after the sum subscribed (fifty guineas) shall 

 have been once paid, will be effectually secured against all future 

 legal claims and demands upon them, on account of any debts the 

 managers of the Institution may contract, as a charter for the Insti- 

 tution will be applied for and obtained, for the express purpose of 

 providing for that security, before any other step shall be taken for 

 carrying this plan into execution, and before any part of the money 

 subscribed will be demanded. 



2do. Proprietors will not be deemed liable to serve, either as 

 managers or as visitors, against their consent ; and none will be 

 considered as candidates for either of those offices, or will be 

 entered on the lists as candidates, or be proposed as such, except 

 it be those who shall have previously signified their willingness to 

 serve in one of those offices in case of their being elected. 



2ytio. For the still greater security of the proprietors, as well as 

 to found the Institution on a more solid basis, one half of the sums 

 subscribed by the original subscribers and proprietors of the Insti- 

 tution will be permanently vested in the public funds, or in the 

 purchase of freehold property, and the annual produce thereof 

 employed in defraying the expense of keeping up the Institution. 



d^to. Each original subscriber and proprietor of the Institution 

 to be an hereditary governor of the Institution ; to have a per- 

 petual transferable share in all the property belonging to it ; to 

 have a voice in the election of the managers of the Institution, as 

 also in the election of the committee of visitors ; to have more- 

 over two transferable tickets of perpetual admission into the estab- 

 lishment, and into every part of it, and two transferable tickets of 

 admission to all the public philosophical lectures and experiments. 



^to. Although the shares of proprietors and all the privileges 

 annexed to them are hereditary, and are also transferable by sale or 

 by donation, yet those to whom such shares are conveyed by sale or 

 by donation must, in order to their being rendered capable of hold- 

 ing them, have obtained the approbation and consent of the majority 

 of the managers for the time being. Those who shall become pos- 

 sessed of these shares by inheritance will not stand in need of the 

 consent of the managers to be qualified to hold them, and to enjoy 

 the rights and privileges annexed to them. 



