At a generall meeting of all the subscribers to the stock of the Royal Company: holden at Drapers-Hall the 19th of December 1671 His Royal Highness present with the Sub-governour and Deputy-governour.

AT a Generall meeting of all the subscribers to the stock of the Royal Company, holden at Drapers-Hall the 19^th of December 1671 His Royal Highness present with the Sub-governour and Deputy-governour.

THe Preamble, Upon which the subscriptions were made, being read from Paragraph to Paragraph, several Amendments were then made, and ordered by the Court to be taken care of, to be so reprinted by the present Committee of the old stock, and the same to be ready for every subscriber, that shall please to call for them at the African-House in Throgmorton-street.

WHereas, at a General Court of the Company of Royal Adventurers of England Trading into Africa, holden at Whitehall the 11 September 1671. It was Resolved, that for the future carrying on the Trade to Africa, in Pursuance of his Majesties gracious Letters Patents: A new Stock of one hundred thousand Pounds or more, be raised by any of his Ma∣jesties Subjects whatsoever, who shall on, or before the 10^th of December next, subscribe to Adventure any part thereof upon the following Terms, Conditions and Articles, which are to be duly kept and strictly observed by all persons whatsoever, that shall be hereafter concerned or imployed in the Affairs of this Company; but no mans subscription shall be Obligatory, unless there be one hundred thousand pounds sub∣scribed.

I. That the payment of the several and respective Sums subscribed, shall be in ten equal payments, and paid to the Treasurer of the Company, at the Treasury Chamber at the African-house in London, viz.

• Two Tenth parts on or before the 25th Jan. next 1671.
• One Tenth part on or before 25th Feb. 1671.
• One Tenth part on or before the 25th March 1672
• One Tenth part on or before the 25th April 1672.
• One Tenth part on or before the 25th May 1672.
• One Tenth part on or before the 25th June 1672.
• One Tenth part on or before the 25th July 1672.
• One Tenth part on or before the 25th August 1672.
• And the last one Tenth part on or before the 25th Sep. 1672.

Unless any of the respective days of payment above expressed shall happen to be on a Sunday, and in that Case the payments may be made the day following.

II. That if any Subscriber do fail to pay the first Payment at the time and place aforesaid, his said Subscription shall be totally void.

III. That if any Subscriber having paid in the first payment shall fail to pay any of the following payments, a Penalty of two per Cent. for each Month shall be charged to his Debt on account, untill his said Subcription shall be fully satisfied and paid, or until the whole Money by him before paid be thereby extinguished. And further he shall be uncapable to be chosen into the Government of the Stock, or give any Vote at any General Court, or Court of Assistants, until he hath paid as well his Penalties as his Subscription.

IV. That the former Adventurers shall be paid out of this new joynt Stock, the Sum of thirty four thousand Pounds, wherewith they may be enabled to pay to their Creditors forty per Cent. of what their Debts amount unto, and Ten per Cent. to every of the former Adventurers for what Stock they have paid, and the said Sum, is for, and in Consideration of all their remains, Debts, Lease of the African house, Rent payable by the Gambia Adventurers, for a remaining term of four years by Lease granted them to the North parts of Africa, Plantations, Forts, Privi∣ledges and Immunities whatsoever, due and belonging to the said Stock of the former Adventurers in all places what∣soever.

V. That every Adventurer who shall be present at any General court shall Vote and Rule in the Stock and Trade according to his Adventure, that is to say; for every one hundred pounds Adventure to have one Vote; But no Ad∣venturer shall be capable to be chosen into the Court of Assistants, or any Committee to manage the Affairs of this Stock, unless he have subscribed four hundred pounds at least.

VI. That immediately after the Subscription of this intended Stock, and before the time of the first payment, a Ge∣neral Court of all the Subscribers be summoned to choose a Governour, Sub-governour, Deputy-governour, and twenty four Assistants, and as soon after as may be, another Court be summoned to select five of the said Assistants to be a standing Committee to act as is hereafter appointed: and with so many of the Subscribers as shall be present to prepare Rules and Orders for managing and governing the Trade as well abroad as at home.

VII. That general Courts be summoned twice every year, or oftner as occasion may require: One upon the Tenth of January, except it fall upon a Sunday, and then on the Eleventh day; for Election of Governour, Sub-governour, Deputy-governour, and twenty four Assistants for the year ensuing, of which not more than sixteen shall be capable to be chosen two years together, nor any be continued longer than three years successively, nor shall they be capable to be chosen again, till two years afterwards be expired. And another Court that day seaven night after, for Election of the abovesaid standing Committee of five, of whom, not more than three shall be capable of being chosen three years successively, at which last Court the Assistants shall present to the general Adventurers a State of the Companies Stock at that time by an exact Ballance of the Books, and an indifferent valuation of all remaining effects, that there∣by the Adventurers may know the true condition of their Stock and Trade,

VIII. That the Sub-governour and Deputy-governour shall not be continued longer than two years together and that the Deputy-governour shall always be a Merchant, and one of the five of the Committee.

IX. That all general Courts, Courts of Assistants and Meetings of the Committee, shall be holden only at the African-house in London, unless His Royal Highness (being Governour) shall particulary direct to summon the general Courts to any other place.

X That the Court of Assistants shall be summoned to meet on the first Thursday in every Month, or oftner if there shall be cause, to give directions to the standing Committee, and to receive an account from them of their proceedings, and to do what else shall be needful in order to the good management of the Stock.

XI. That there be a standing Committee of five persons annually chosen, (as is aforesaid) by Plurality of Votes at a general Court, and by Balletting: Three whereof to be a Quorum, to manage the Affairs of the Stock according to such directions as shall from time to time be given them, either by the general Court, or Court of Assistants, and in the intervals of Courts of Assistants, where delays may be prejudicial, that the said Committee may have power to proceed to act further, as in their discretion they shall judge most advantageous to the Company, provided they act nothing contradictory to any Order of the general Court, or Court of Assistants before made. The said Committees daily proceedings to be Registred, as also the proceedings of the general Courts, and Courts of Assistants, and all their Bargains for Goods, and Contracts for fraights of Ships to be made publiquely at the Board, and immediately entred into Books to be kept for such purposes.

XII. That the said standing Committee do meet three days in every week at least, and stay three hours each time either Mornings or Evenings as shall be most convenient, if business require it, and that they be allowed each man for every of those three meeting days twenty shillings; and if any of them be absent upon any pretence, or for any reason whatsoever, that he loose that days Salary, provided a Quorum do meet; But if no Quorum do meet, then every person that shall be absent shall not only loose the Salary for that day, but pay twenty shillings to the Company, so far as his whole Salary for that year shall amount unto; to which end, no reward or Salary shall be paid to any of the Committee; until their attendances for the whole year be examined by the Records of the Committee, which shall be done at the first Court of Assistants after a new Election, and warrants for their rewards, shall be signed at that Court accordingly.

XIII. That any Member of the Company may be present at the Court of Assistants or meetings of the Committee to hear their debates, and may offer his opinion; but none to Vote in the resolution, save those of the Court of Assistants or Committee.

XIV. That if any Member, Officer or Servant of the Company shall directly defraud the Company in any thing, or receive any guift or bribe from any person in any wise, relating to the concerns of the Company, or shall trade to, or from any Ports or places within the limits of the Campany's Charter, other than in the joynt Stock, or so as shall be allowed by a general Court or Court of Assistants: that such Member do forfeit and loose his whole Stock, or else do pay such pecuniary mulct or penalty as a general Court shall impose, and such Officer or Servant shall forfeit all Salary due unto him, be forthwith discharged, and made uncapable of being ever after restored, and further be prosecuted according to Law, and that the said Forfeitures do redound to the Use and benefit of the Ad∣venturers in general, and that Bonds be given by every Officer, to submit to the said mulcts and penalties.

XV. That every member having share or part in any Goods to be sold, or Ship to be fraighted for the Company's Use, shall if he be then present, or any ways privy to such Bargain, declare his Interest to the Committee, and shall cause the same to be Recorded, otherwise upon discovery to be made thereof, he shall forfeit his whose Stock, or pay such penalty as a general Court shall impose upon him, and the Committee shall be prohibited, during their being Committees to sell any of their own Goods to the Company directly or indirectly upon the aforesaid Penalties with∣out the Allowance of the Court of Assistants.

XVI. That the Stock and Dividents of each respective Adventurer shall from time to time be obliged for such debts and ingagements as such Adventurer shall become ingaged in to the Company, and that the Courts of Assistants may, and shall detain the same for the benefit of the generality, until such debts and ingagements are fully satisfied.

XVII. That if it shall please God that at any time the Stock shall be augmented fifty per Cent. a Divident of twenty per Cent. at least shall be forthwith made to the several Adventures, and afterwards annually one half part, or more, as the general Court shall direct, of all profits that shall be made, shall be divided in the like manner.

XVIII. That no Dividents shall be made in Goods to the Adventurers, but in Money only.

XIX. That all Goods received for the Company's account from Forrain parts be sold publiquely at the Candle, and be paid for to the Treasurer, before their delivery to the Buyer, except Gold and Silver, which shall be always Coin∣ed in the Tower of London, except there be a special Order from the general Court that directs otherwise.

XX. That every Member of the Company before they give any Vote in any Election, shall take an Oath to the Company, according to the forme agreed on, and herewith at large expressed.

An Oath for the Members of the Royal Company.

YOu do swear to be good and true to our Soveraign Lord the Kings Majesty, and to his Heirs and Successors, and that you will be faithfull to the Governour, Sub-governour, Deputy-governour and Company of Royal Adventurers of England, Tra∣ding into Africa in the management of their Trade; The secrets of the said Company which shall be given you in charge to conceal by the said Governour, Sub-governour or Deputy-Governour you will not disclose; and during the present joint stock of this Company you will not Trade to any of the limits of this Company's Charter, without leave of the general Court or Court of Assistants.

So help you God.

XXI. That every Officer or Servant to be imployed by the Company do first give good security, and then take an Oath to perform their respective duties in their several imployments, and that they be chosen annually by Plurality of Votes by Balletting, at the first general Court after the 12th January, and that if any Officer or Servant shall mis∣demean himself upon complaint of the Committee, the Court of Assistants shall have power to suspend them until the next general Court.

XXII. That no meeting or Assembly of the Adventurers shall be deemed or taken to be a general Court, or shall have power to alter any Rules or Articles of this Preamble, or make any new or further Rules or Orders for the Government of the Company, unless there be present at such meeting or Assembly, the major part of the Assistants, and at least twelve of the generality, besides the Governour, Sub-governour, Deputy-Governour, or one of them, or provided so many Adventurers be present, as shall be concerned in the major part of the Stock, but at a general Court (so constituted) all such Orders or alterations, as shall at any time be made by Plurality of Votes by Balleting, shall be binding to the whole Company, and no question shall be otherwise determined than by Balleting, if required by a∣ny Member present either at a general Court, or Court of Assistants, wherein either any particular Member or Ser∣vant of the Company is concerned, or any of the Company's money by way of Guift or Reward shall be disposed of.