N OF DETAILS IN

recracy in time of Geo. 1st.

- 20, 1722.

bee has been paid 33597. in Part of the PurAs of the Mines, and now remains due 41, which your Court of Assistants are at present in a Condition to pay. The Proceedings on the Scire Facias, and the amity of the Times, have proved very detrimental to your Affairs, and may have disSouraged a great many from paying their Calls : But as the Vigilance and Care of your Assistants have preserved their Charter inviolable, and have removed that heavy and expensive Prosecution, by His Majesty's most gracious Favour in granting a Nolle Profequi, publish'd in the Gazette the 10th of July last; it is hoped those, who have not complyed with what might justly have been expected from them, will now (all Objections being removed) readily make their Payments, and agree to such Resolutions as may be thought proper for the Interest of the Company. By Advices from the Country, and returns of the Money already expended, the Mines which the Company are concerned in, are capable to employ a considerable Number of Men to great Profit, and may be made very extensive, so as to produce such Quantities of Copper, Tin, Lead

and Silver, as may make constant Annual Dividends, when a sufficient Sum is raised to carry them on to the best Advantage, which your Court of Assistants and Committee have good Reason to believe they shall easily effect by the following Method :

I. That a Call be made of 20s. per Share, to be paid in a Month, with a Discount of 12d.

may obferve your Court of Affiftants and Committee had pur hafed feveral confiderable Mines of Copper, Lead, Tin, and other Minerals; as alfo convenient Work-houfes for Smelting the Ores that Thould be raifed or bought, for which your Court of Affiftants contracted to pay rooo 1. And in order to raise a Sum to comply with fuch Payments as were then neceflary, the faid General Court agreed to a Call of One Pound per Share.

the of laft

Your Court of Afliftants being willing to contribute every Thing that might tend to the Eafe and Service of the Proprietors, thought it would be more. agreeable to them to pay the faid Call in two Pay. ments, and therefore refolved to receive at that Time only 10 per Share in Money, and three Months after the remaining to . in Money or Shares, at 30 s. Share, hoping the Call being made fo eafy, every per Proprietor would cheartully have comply'd therewich.

But contrary to Expectation, and very much to the Prejudice of the Company, there has been no more receiv'd upon the Call than 4736 1. there has been paid 33597 in Part of the Furchafe of the Mines, and now remains due 10,641 1. which your Court of Alifants are not at prefent in a Condition to pay.

The Proceedings on the Scive Facias, and the Calamity of the Tunes, have praved very detrimental to Your Affairs, and may have discouraged a great many from paying their Calls: But as the Vigilance and Care of your Affiftants have preferved their Charter inviolable, and have removed that heavy and expenfive Profecution, by His Majefty's moft gracious Favour in granting a Nalle Profequi, publith'd in the Gazette the roth of July laft; it is hoped thofe, who have not complyed with what might juftly have been expected from them, will now (all Objections being removed) readily make their Fayments, and agree to fuch Refolutions as may be thought proper for the Intereft of the Company

By Advices from the Country, and returns of the Money already expended, the Mines which the Compiny are concerned in, are capable to employ a coniderable Number of Men to great Profit, and may be made very extenfive, fo as to produce fuch Quantities of Copper, Tin, Leal and Silver, as may make conftant Annual Dividends, when a fufficient Sum is railed to carry them on to the bell Advantage, which your Court of Afliftants and Committee have good Reafon to believe they thall eafily effect by the Following Method:

I. That a Call be made of 20 s, per Share, to be paid in a Month, with a Difcount of 12 d. per Share to fuch Proprietors as pay the faid Call in 15 Days.

II. That fuch Proprietors who do not comply with his and the former Call within a Month, be Mula s. for each Call in Arrear; and in cafe they thould not pay the faid Calls and Mulets, that the Court of Affiftants be directed and impower'd by this General Court to file a Bill in the Court of Chancery or Exchequer, to oblige fuch Detaulters either to pay n their Calls, or relinquith their Shares to the Com pany.

III. And whereas the former Calls have not hithero been complyed with, it is further propofed, that the Court of Affiftants be impower'd to difpofe of ny Number of new Shares, (not exceeding 5000 n fuch Manner and to fuch Perfons as they thall hink fit, but not at lefs than 45 s. per Share, to be free from this new and former Calls, with the Alowance of 12 d. per Share for prompt Payment.

This is the beft Method your Court of Afliftants tould think of to put all the prefent Adventurers as bear as poflible upon an equal footing; for as it would be unreafonable to expect a Profit without aying the Calls, fo it would be equally unjuft for ny Perfon to continue an Adventurer at the Ex ence and Hazard of another.

If any Proprietor thould be excluded for not payng the Calls, their Shares will be funk to the Beneit of thofe who comply with the fame

Your Court of Directors think it Needlefs to ufe ny Argumen's to thow the Neceflity of an Unanihous Concurrence in the Method propofed, without hich, or fome other effectual Means to taife Money, l that is already advanced will be in Dange of beng loft; and the well-wilhers to the Company who ave paid their Calls, can have no Benefit, but an ntire Difappointment, occafion'd by thofe, who tho hey appear defirous to be Adventurers, yet omit payng what is Incumbent on them, to the great Preju ice of the other Proprietors.

The Money that comes in upon the paft and present Call, as alfo by the 10,000l. to be raised by the sale of 5000 new Shares added to the Stock, will be Such an effectual Fund, to work the Mines, and Ma

ufacture the Produce thereof, that the Company Can't avoid being eftablith'd upon a certain, folid and profitable Foundation, without making future Calls or uniting with any other Society or Corporation.

An Objection was made against the Call, but was fally removed by the Duke of Richmond, Earl of Clarendon, Sir R. Knipe, Sir Fifher Tench, Mr. Ward and others; and then the General Court agreed to hpower the Court of Afliftants to call in One Pound bor Share, and to fell 5000 new Shares, as propofed by them for railing an immediate Sum to carry on the company's Affairs to the beft Advantage.

It was remarkable, that when the Queftion was bat by the Governor there was but one Hand held againft it. from the Chair