DOCKS. 
g. Wet-ilock, a place where tlie ship may- 
be hauled into out of the tide’s -way, and 
so dock herself, or sink herself a place to 
lie in. 
Docks, &c. Liverpool, Hull, and Bris- 
tol, but especially the two first of these 
places, had proved the advantages of w'et- 
docks long before London possessed any 
such accommodations. The inconveniences 
arising from the crowded state of the river 
at all times, but particularly when ships 
arrived in large fleets, and from the want of 
sufficient wharf-room for discharging their 
cargoes, were long felt and complained of 
by all the principal merchants in London, 
who were subject to considerable losses 
from the delays in getting their goods land- 
ed, and the opportunities of plunder to 
which they were exposed. At length, about 
the year 1793, a plan was circulated for 
forming capacious wet docks, with frharfs 
and warehouses, in a convenient situation 
adjoining the Thames at Wapping; tlie pro- 
ofed gave rise to much discussion, and to the 
formation of other plans accommodated to 
particular interests ; but through the inde- 
fatigable perseverance of Mr. William 
Vaughan, assisted by other highly respect- 
able mercantile characters, the original plan 
was matured, and a bill brought into par- 
liament for carrying it into execution. Con- 
tending interests rendered the first applica- 
tion unsuccessful; and a few years after 
the corporation of London proposed to 
make a navigable canal or passage across 
the Isle of Dogs ; while another plan was 
brought forward for making wet- docks for 
the West India shipping only; and after- 
wards one for making docks for East 
India shipping only, all in the vicinity of 
each other. These several undertakings, 
all arising out of the original project of the 
London docks, have been since carried into 
execution, to the great convenience of the 
commerce of the port of London, and the 
permanent benefit of the subscribers, by 
whom the large sums necessary for accom- 
plishing them were advanced. 
LONDON DOCK. 
This company was established by an act 
of 39 and 40 Geo. III. passed the 20th of 
June, 1800, by which they were impowered 
to raise a capital stock of 1,200,0001. ; and, 
it’ necessary, to borrow at interest the fur- 
ther sum of 300,0001. : but a larger capital 
being necessary for completing the under- 
taking, they applied to parliament for leave 
to augment their capital stock by any fur- 
ther sum not excee<ling 500,0001. ; and have 
since obtained another act for raising a fur- 
ther sum of .500,0001.; so that the total 
capital stock which the company are autho- 
rised to raise, if necessary, is 2,200,0001. 
The company is under the management 
of twenty-four directors, who are elected 
annually. Two general courts of proprietors 
are held every year, at which alt persons 
are entitled to vote who possess 5001. stock 
or upwards. 
The dividends on their stock are restrict- 
ed to 10 per cent, per annum, and are paid 
on the 1st of January, and the 1st of July. 
The present dividend is 5’- per cent, and the 
company pay the property tax thereon. 
The dividends are paid, and transfers made 
on any day except holidays. 
The company was required to complete 
the docks within seven years, and on the 
24th of Januaiy, 180.5, they gave notice, by 
advertisement, that the bason at Bell-dock, 
and the dock communicating therewith, 
and also part of the warehouses, vaults, and 
quays, were ready for the reception of ships 
and lanfhng their cargoes, in consequence of 
which the dock was opened for public use 
in the following week. 
•WEST INDIA DOCK. 
This company was established by an act 
of 39 Geo. III. passed the 12th of July, 
1799, and was impowered to raise a joint 
stock of 500,0001, with liberty to increase 
the same to 600,0001. by consent of the 
majority of proprietors at a general meet- 
ing. This increased capital was, however, 
found inadequate to complete the under- 
taking ; and in 1802, the company were 
authorised to add 200,0001, to it, making 
the capital 800,0001, which has since been 
increased to 1,200,0001. Of this sum, 
1,127,5001. has been called for; and a fur- 
ther subscription of 2^ per cent, was 
added in January, 1808. They were to pay 
5 per cent, interest for the money advan- 
ced, until the docks were completed, and 
afterwards to make dividends not exceed- 
ing 10 per cent, per annum. 
The company is under the management 
of twenty-one directors, eight of whom 
must be members of the Corporation of 
London. They are elected annually, five 
going out every year for three years, and 
six the fourtli year. 
Two general meetings of proprietors are 
to be held every year, in January and 
July, at which all persons are entitled to 
vote who hold 5001. stock or upwards. 
