At a Meeting of the
Council-General of the Company of
Scotland, Trading to
Africa and the
Indies.
Holden at
Edinburgh, the
5th Day of
September, 1698.
UPON a Representation, made from the Court of Directors in Writing, Containing an Abstract of the present State of the Company's Affairs; And giving also their Opinion, what they thought necessary to be done by the Company at this Juncture: The said Representation was Read over, Article by Article. Upon due Consideration whereof.
RESOLVED (Nemine Contradicente) That the needful Preparations be made for a Supply of Provisions, and other Necessaries to be sent to the Company's intended Colony, upon the first account that shall be had of their Landing and Setlement.
RESOLVED (Nemine Contradicente) That the further proportion of Seven Pounds Ten shillings sterl. of every Hundred Pounds Subscribed for, in the Company's Books, shall be called in from the Respective Subscribers, or present Proprietors of the Company's Stock; The one half thereof to be payed on the First Day of November next, And giving Bonds at the same time, to pay the other half at Candlemass thereafter: Certifying all such Persons, as shall happen to fail in performing as aforesaid, before the First Day of December next; That their Respective Shares shall either be Rouped, Pursuant to the Constitutions, or that they shall be otherwayes proceeded against upon their Subscriptions, as the Council-General shall think fit to Direct.
RESOLVED (Nemine Contradicente) That for the Encouragement of ready payment, And to the end, that all the Proprietors may as near as possible, be put upon an equal footing, with respect to their Payments, the same being at different times, that all such Persons as have payed in the first Fourth Part of their Subscriptions before or upon the First Day of June 1696. shall have Interest for the same, from the First of June asoresaid, to the first of August last past: And all those that have payed in the first Fourth Part of their Subscriptions after the said First of June, shall have Interest for the same from the Respective Days of their several Payments to the said First of August, and all to be deducted out of the first Moiety of the Seven Pounds Ten shillings sterl. per cent. abovementioned: And that all such Persons, as have not as yet payed in the first Fourth Part of their Respective Subscriptions, shall be Lyable to pay Interest for the same, from the said First Day of August last.
ORDERED, That the said several Resolutions be forthwith Printed and Published in the usual manner, for Information of all Persons concern'd, to the end that none may pretend Ignorance.