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<DATE>2014-08-06</DATE>
<RESPSTMT>
<NAME>TCP Staff (Michigan)</NAME>
<RESP>MURP</RESP>
</RESPSTMT>
<ITEM>Proofed and reviewed as part of batch B140611.apex.</ITEM>
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<IDG S="marc" R="UM" ID="B43613">
<STC T="W">P713</STC>
<BIBNO T="oclc">[ocn]767838800</BIBNO>
<VID>212283</VID>
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<TEXT LANG="eng">
<BODY>
<DIV1 TYPE="proposal">
<PB REF="1">
<PB REF="2">
<HEAD>PROPOSALS Made by <HI>William Pater&s;on</HI> of <HI>London,</HI> E&s;q;</HEAD>
<HEAD TYPE="sub">On behalf of him&s;elf and others, for Con&s;olidating the Perpetual Fund of Intere&s;t payable to the ORPHANS and other Creditors of the City of <HI>London,</HI> by Virtue of the Act of Parliament Enti|tuled <HI>An Act for Relief of the Orphans and other Creditors of the City of</HI> London, <HI>and for Improving the &s;ame &s;o Con&s;olidated above the In|tere&s;t payable by the &s;aid Act.</HI></HEAD>
<P N="1">1. THAT a Book of Sub&s;cription &s;hall be prepared, which &s;hall be opened at <HI>Mer|chant-Taylors-Hall, London,</HI> every Day <HI>(Sundays</HI> only excepted) from Nine a Clock in the Morning to Twelve at Noon, and from Three 'till Six in the Af|ternoon, and &s;hall lye open upon and from <HI>Thur&s;day</HI> the <HI>14th.</HI> Day of this In&s;tant <HI>February,</HI> until <HI>Thur&s;day</HI> the <HI>14th.</HI> Day of <HI>March</HI> next inclu&s;ive, or until Four Hundred Thou&s;and Pounds Stock in the &s;aid Fund &s;hall be Sub&s;cribed, which &s;hall fir&s;t hap|pen, and no longer, for taking Sub&s;criptions of the &s;aid Fund, pur&s;uant to the&s;e Propo&s;als.</P>
<P N="2">II. That <HI>Paul D'Aranda, John Asgill, William Broughton, Paul Docminique, George Finch, Francis Gosfright, Nathaniel Herne, Edward Herrys, Nathaniel Hornby, Robert Lanca&s;hire, Sa|muel Ongly</HI> and <HI>William Sheppard,</HI> together with the &s;aid <HI>William Pater&s;on,</HI> &s;hall be of the Num|ber of the fir&s;t Tru&s;tees, and they or the major part of them &s;hall have the full and ab&s;olute Direction of this Sub&s;cription, and of all De&s;igns and Undertakings relating thereunto, until other Tru&s;tees, not exceeding Thirteen in Number, to be Cho&s;en in manner herein after men|tioned, &s;hall be added unto them.</P>
<P N="3">III. And whereas the De&s;ign for Improving this Fund can no ways be reduced to Practice, unle&s;s a &s;uitable Number of fit and u&s;eful Per&s;ons be qualified for this Tru&s;t, by becoming Par|ticipants and Proprietors therein: And the Purcha&s;ing of &s;uch rea&s;onable Part or Intere&s;t in the &s;aid Fund being extreamly difficult, unle&s;s the Purcha&s;ers &s;hould be content to be mo&s;t exorbitantly Impo&s;ed upon: For Remedy thereof it is hereby agreed, that Ten <HI>per Cent.</HI> of this Sub&s;cription &s;hall be equally divided among&s;t &s;uch as &s;hall be the fir&s;t Tru&s;tees, they and eve|ry of them paying at the Rate of Fifty five Pounds for every Hundred Pounds of the &s;aid Fund, which &s;hall be equally paid to every Sub&s;criber in Proportion to his or her Summe &s;ub&s;cribed and Part contributed.</P>
<P N="4">IV. That upon the Fifteenth Day of <HI>March</HI> next, or as &s;oon as the &s;aid Four Hundred Thou|&s;and Pounds &s;hall be Sub&s;cribed, which &s;hall fir&s;t happen, the Sub&s;cription-Book &s;hall be clo|&s;ed; and after the clo&s;ing thereof, the &s;aid Tru&s;tees herein named &s;hall give Three Days pub|lick Notice at the lea&s;t of a General Meeting of all the Sub&s;cribers, to choo&s;e by Majority of Votes &s;uch other Per&s;ons as are to be added to the Number of the Tru&s;tees, every Five Hun|dred Pounds &s;ub&s;cribed having One Vote, and no one Per&s;on what&s;oever to have more than Ten Votes.</P>
<P N="5">V. That when and as &s;oon as the Book of Sub&s;cription &s;hall be clo&s;ed and &s;hut, and the Num|ber of Tru&s;tees compleat, the &s;everal and re&s;pective Summs &s;ub&s;cribed &s;hall be legally Transferr|ed and A&s;&s;igned to the &s;aid Tru&s;tees, who &s;hall declare the U&s;es and Tru&s;t thereof by a Deed of Settlement, a Draught whereof &s;hall be publi&s;hed within Ten Days after clo&s;ing the &s;aid Book: And &s;hall provide and keep Books of Credit and Transferr, for a&s;certaining and transferring every ones Part and Intere&s;t in this Fund &s;ub&s;cribed and con&s;olidated.</P>
<P N="6">VI. That the &s;aid <HI>William Pater&s;on,</HI> and &s;uch other Per&s;ons as he &s;hall Name, &s;hall have and receive Twelve Pence in the Pound of all Clear Profits made by or by rea&s;on of this Con&s;oli|dating and Con&s;titution (other than and except the Intere&s;t paid or to be paid by the City of <HI>London,</HI> pur&s;uant to the &s;aid Act) for and in regard of his or their Contrivance, Labour and Ex|pence in and about the &s;ame.</P>
<P N="7">VII. That the Tru&s;tees for the time being, together with the Sub&s;cribes or their re|&s;pective A&s;&s;ignes, &s;hall and may from time to time make, agree, con&s;titute and &s;ettle, &s;uch Rules, Orders and Con&s;titutions, as they or the major part of them pre&s;ent at any A&s;|&s;embly &s;hall think convenient, for the good Government and Improvement of the &s;aid Fund and Con&s;titution hereby intended.</P>
<P N="8">VIII. That every Sub&s;criber hereunto at any time within twenty eight days next after the clo|&s;ing the &s;aid Book, may revoke his or her Sub&s;cription, or any part thereof, by Writing under his or her Hand, to be entred in a Book to be kept for that purpo&s;e by the Tru&s;tees: And &s;uch Sub|&s;cription, or &s;uch part thereof as &s;hall thereby be declared to be revoked within the time afore|&s;aid, &s;hall be null and void as if it had never been, but otherwi&s;e to be and remain in full force.</P>
<P N="9">IX. That from and after the End of the &s;aid twenty eight days, and until the Stock &s;ub&s;crib|ed and not revoked as afore&s;aid &s;hall be transferred, the &s;aid Tru&s;tees may proceed to act in the &s;aid Tru&s;t, as if the &s;aid Stock or Fund were actually transferred unto them.</P>
<P N="10">X. That the &s;aid Tru&s;tees and Sub&s;cribers after the Execution of their Deed of Settlement and Con&s;titution, may admit and take in &s;uch other Additional Sub&s;criptions to augment their Fund as they &s;hall think needful, and upon &s;uch Terms and Conditions as they &s;hall think fit.</P>
<CLOSER>We the Per&s;ons hereunto Sub&s;cribing being &s;everally Intere&s;ted in the Perpetual Fund be|fore mentioned, having &s;everally Peru&s;ed and Approved the Propo&s;als afore&s;aid, do &s;e|verally Agree thereunto, for the &s;everal and re&s;pective Summs in the &s;aid Fund&punc; by each of us &s;ub&s;cribed.</CLOSER>
<PB REF="2">
</DIV1>
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