(7.) That fo much of the £150,000 as fhall not be filled up on the 1ft of Feb. may APPENDIX. be filled up by the exifting Proprietors, either by their taking additional shares on Proprietors their own account, or by their recommending new Proprietors, until the whole to recommend deficiency be fupplied.

Subícribers,

their fhares.

(8.) That, in cafe the capital fhould be increased beyond £150,000, the right of according to taking additional shares fhall be diftributed as equally as poffible among the then Proprietors, in proportion to their fhares; and, if any of them fhall decline taking the shares due to them, the right of recommendation shall be distributed among them on the fame principle of equality.

commenda

(9.) That the annexed letter be the future form of recommending new members, Form of reviz." I beg to recommend A. B. for Shares, tion. Shares, in the stock of

and C. D.

of

of

for

the Sierra Leona Company, believing they are well affected to the objects for which the Company is established; and that they take the said stock on their own account.

Abridgment of the Act of Parliament, incorporating the Sierra
Leona Company. 1790.

1027. THE Preamble states, inter alia, that a commercial intercourse with the interior countries of Africa, would be highly beneficial to the manufactories of Great Britain; that thofe interior countries have not yet been explored by Europeans; that fuch undertakings require a confiderable capital joint flock; that the parties fhould be poffeffed of fome diftri&t on the coaft, where they may fecurely depofit their property; that a fociety has been already formed, and confiderable fums fubscribed; but that they are apprehensive of legal difficulties in recovering debts, &c. unless they are regularly incorporated: it is therefore enacted that the subscribers (who are enumerated in the act) and those who may become fuch, be incorporated under the name of the S. Leona Company, and have a common feal.

II. The Company may purchase lands, not exceeding the annual value of £2000, and may alfo fell the fame.

III. The Company may raise a joint flock, not exceeding £500,000 by subscriptions from members of the Company or other perfons, in fhares of £50 each.

IV. Subfcribers to have an intereft in the capital joint flock, according to the amount of their fubfcriptions; and to be responsible to the Company's creditors, to that amount, but not farther. See § 373.

V. The Company not to borrow money, except by a subscription for shares.
VI. The Company not to deal in or have slaves.

APPENDIX.

VII. Thirteen perfons to be chofen by the members, from among themselves, to be called a Court of Directors, to manage the Company's affairs.

VIII. The first election of Directors to be made in July, 1791; and every subfequent election fhall be made between the 1ft of Jan. and the 1ft of April yearly; and they fhall continue Directors till their fucceffors be fworn into office.

IX. Fourteen days' notice of the time of chufing Directors, to be published in the London Gazette.

X. The Directors, at their first Meeting, to chufe out of their own number a chairman and a deputy chairman, who shall continue in office, till the fucceeding

Directors be fworn in.

XI. In cafe of the death, or other avoidance of office, of any of the Directors, on 14 days' notice in the London Gazette, the members of the Company to meet, and chuse a fucceffor or successors, who fhall continue in office, till the fucceeding Directors be fworn in.

XII. The fame rule, mutatis mutandis, to be observed by the Directors, in chus ing a chairman or deputy chairman, in cafe of death, &c.

XIII. Elections and business in General Courts, to be determined by the majority of votes.

XIV. Members of the Company, in General Courts, to have votes, according to the number of their shares, namely, 1 or 2 shares entitles a member to 1 vote; 3 or 4 shares to 2 votes; 5, 6, or 7 shares, to 3 votes; 8 or 9 fhares to 4 votes; 10 or more shares to 5 votes, and no member shall give more than 5 votes.

XV. Directors to take an oath to give their best advice and affistance in the concerns of the Company, and to demean themselves faithfully and honeftly in their office. XVI. No person to have a vote in the election of Directors, or making of byelaws, but proprietors in their own right, and not in trust.

XVII. Where joint proprietors hold a share or shares, the person whose name ftands firft in the Company's books, shall vote.

XVIII. Quakers to make folemn affirmations instead of the oaths required. XIX. No person to be chofen a Director, unless poffeffed, in his own right, of one share at leaft in the faid capital joint stock.

XX. Every Director to take an oath that he poffeffes, in his own right, one fhare at least.

XXI. Oaths to be taken by Directors, to be administered by the Lord Mayor, or any Alderman of London, or by any two or more Directors who shall have been first sworn.

XXII. In case any perfon chofen Director, refufe or neglect to qualify or take the office, a new election to be made.

XXIII. Court of Directors, or the majority, (the Chairman or deputy Chairman being always one) may meet when, and where convenient, may fummon General Courts

1

Courts when they see cause; and, in all cases not provided for by this act, or by the APPENDIX. bye-laws agreed upon by the General Court, they may act as they think meet.

XXIV. Directors may appoint Subcommittees to transact business.

XXV. The Secretary to be chofen by the Court of Directors, to receive notice of his election, and to take an oath of fidelity to the Company, which is to be administered by the Directors.

XXVI. Notice to be given to perfons appointed agents or fervants to the Company. XXVII. Directors to adminifter to agents or fervants, an oath of fidelity to the Company.

XXVIII. Secretary, agent, or fervant, neglecting or refusing, for 40 days after receiving notice, to take the oath, vacates his office.

XXIX. Members of the Company may meet at any convenient time and place, to chufe Directors, make bye-laws, &c. Such Meeting (the Chairman or deputy Chairman to be always one, except in cafes hereafter mentioned) fhall be called a General Court of the Company.

XXX. One General Court in a Year at the leaft to be called, by the Court of Directors.

XXXI. In cafes of failure to call them by the Court of Directors, any 5 of their fucceffors may call a General Court in the month of May next enfuing.

XXXII. On a written requifition from any 9 or more members, at any time, the Directors shall call a General Court, within 20 days. In case of refufal, the said 9 or more members, on 14 days' notice in the London Gazette, may fummon a General Meeting, and appoint one of themselves chairman, and may hear any complaint against any Director or Directors. In cafe he or they shall not clear him or themfelves, then, within 20 days, (notice being published as aforefaid) another General Court shall meet and determine the matter, and may remove such Director or Directors, and elect one or more Directors in his or their place.

XXXIII. The General Meeting may make bye-laws and inflict penalties, so that the fame be not repugnant to the laws of the realm. The penalties to be applied to the use of the Company.

XXXIV. First General Court to be held in July, 1791.

XXXV. Chairman to have the cafting vote, when the number of votes is equal, either in a General Court, or in a Court of Directors.

XXXVI. A Court of Directors, to be held at least every month; and, if the Chairman or deputy Chairman neglect or refufe to call fuch Court, then 5 or more Directors, on reasonable notice in the London Gazette, may summon the faid Court. XXXVII. The Chairman or deputy Chairman, within 2 hours after the Meeting of the Directors, fending notice of their inability to attend, the other Members may proceed to bufinefs without them.

XXXVIII. Books by the name of "The Ledger of the Capital Joint Stock of the Sierra Leona Company," and "The Transfer-book of the Sierra Leona Com

pany,"

APPENDIX. pany," to be kept, fworn to by the accomptant, if required; and, from time to time,

to lie open for infpection.

XXXIX. Shares to be transferrable by an entry in the transfer-book, figned by the party, to this effect.

my

I A. B. dotransfer and affign unto C. D. his executors, adminiftrators, and Affigns, Share or Shares [as the cafe may be] in the Capital Joint Stock of the Sierra Leona Company, and all benefit arifing therefrom. Witnefs my hand, this in the Year of our Lord

Day of

Or, by his attorney, to this effect

in

I A. B. by virtue of a Letter of Attorney from C. D. dated the
Day of
Year of our Lord
do in the name and on the behalf of the faid C. D.

transfer and affign unto E. F. his executors, adminiftrators, and affigns, the
Share or Shares of the faid C. D. in the Capital Joint Stock of the Sierra Leona Com•
pany, and all benefit arifing therefrom. Witness my Hand, the

in the Year of our Lord

Day of

XL. No perfon to claim as executor, adminiftrator, or devifee, without producing the probate or letters of adminiftration, of which a memorandum must be entered in the transfer-book, which shall lie open for inspection, without fee:

XLI. For preventing doubts with respect to the credit of the Company, an account of their debts, credits, and capital, figned by the Chairman, deputy Chairman and 5 other Directors, fhall be published in the London Gazette in April, every year. XLII. The Directors to appoint officers and fervants, continue them while they think fit, and establish their salaries.

XLIII. Shares in the Capital Joint Stock to be deemed personal estate. XLIV. His Majesty impowered to grant, and the Company to hold, the exclusive right of such part of the Peninfula of Sierra Leona, as may be vested in His Majefly, by grant or purchase from the native kings; and the Company empowered to purchase, if they think fit, the refl of that peninsula, from the native kings, &c.

XLV. The ships of the African merchants, may, as heretofore, anchor in Sierra Leona and Camaranca rivers, may build temporary tents and huts on shore, and may purchase from the natives, ivory, wax, camwood, and provifions, fire-wood and water, without any new charge.

XLVI. Proceedings, in pursuance of this act, not to be quafhed or vacated for want of form.

XLVII. Actions for things done in pursuance of this act, to be brought within 6 months after the fact. The defendant may plead the general iffue, and give this aft in evidence, and then the jury fhall find for the defendant, or the Court of Seffion in Scotland fhall difmifs the fuit, and the defendant have treble cofts.

XLVIII. The duration of this act, and consequently of the Sierra Leona Company, limited to 31 years from the first day of July, 1791.

XLIX. This act to be deemed a public act.

LIST

LIST OF THE ORIGINAL SUBSCRIBERS

TO THE ASSOCIATION FORMED IN 1792, FOR CULTIVATING

THE ISLAND OF BULAMA;

AND BY THAT MEANS PROMOTING THE

CIVILIZATION OF AFRICA.

This fubfcription was raised in London and Manchester, upon lands to be purchafed, from the native chiefs of the Inland of Bulama, and the adjacent parts of the continent. Abfentee Subfcribers paid £60 per 500 acres, and Colonift Subscribers £30 per 500 acres :-8680 acres were to be given gratis to the governor and the other officers who

were to conduct the first expedition.

The figures annexed to the names denote the number of acres fubfcribed for. The names marked with afterisks come under the Manchester subscription,