The CASE of the Company of WHITE-PAPER-Makers: Humbly presented to the Consideration of this present Parliament.
THE Manufacture of Writing and Printing-Paper being stablished in England, will employ many Thousands of Poor People, and keep vast Sums of Money in the Nation, which have been sent over Yearly into France, to pay for the said Commodity; and (if encouraged) may in Time be so far advanced, as not only to prove a Staple-Manufacture here at Home, but also be sufficient to furnish our English Plantations, and other Places Abroad who now Trade with France for the same.
His late Majesty being fully convinc'd thereof, granted divers Letters-Patents to several Persons, for their respective Inventions, of making White-Writing, and Printing-Paper: And the several Patentees proceeding upon such their Inventions, which were for making but one and the same thing, tho by different Methods, found, that their Separate Interests, did but Undermine and Prejudice each other, and threatned the Ruin of the Whole; not only by raising Workmens-Wages, and the Price of Materials, but by many other great Inconveniences, which being proved upon several Hearings, and Debates, before the late King, He, by the Advice of his Council, united the separate Interests, and Incorporated them, by the Name of the Governor and Company of White-Paper-Makers; and granted them the sole Power of making White-Writing and Printing-Paper for Fourteen Years.
The Company having purchased, and erected divers Mills for the carrying on the said Manufacture; and the French King having notice thereof, did command his late Ambassador, Monsieur Berillon, to use his utmost Endeavours to ruin the Manufacture, who by himself, and others, with great Sums of Money, seduced and carried away the Companies Workmen from their Mills, and raised other very great Oppositions against them, to their Detriment and Expence of several Thousands of Pounds, as was apparently proved before the late King in Council, and by a Trial at Bar in the Court of King's-Bench.
Notwithstanding all which, and many other Difficulties, the Company have perfectly set up the Manufacture, and make as good Paper, of all Sorts, as any is made in Europe: And tho by their Charter they might, with all humble submission, insist (for their own Advantage) to keep the Manufacture solely to themselves; yet the Company are fully resolved, for the general Good, to establish the same in all parts of the Kingdom, in humble confidence of the Asfistance and Encouragement they shall meet with from this present Parliament, in granting them such an Act, for the enabling them to perform the same, as their great Wisdom shall think fit, and do for that End make the following PROPOSALS.
The COMPANIES PROPOSALS in order to SUBSCRIPTIONS.
WHEREAS at a General Court of the Governour and Company of White-Paper-Makers, holden the 12th Day of December, 1689, it was resolved, That for the better carrying on, and the more effectual establishing the Manufacture of White-writing and Printing-Paper, in all Parts of this Kingdom (in pursuance of Letters Patents granted to the said Governour and Company by his late Majesty) a considerable Fund of Money be raised; and that all Persons whatsoever may have the like Benefit and Advantage with the present Members of the said Company, who shall on or before the 25th day of March next, subscribe upon the following Terms, Conditions and Articles, which are to be duly kept, and strictly observed by all Persons whatsoever, whether present Members or Subscribers.
- 1. The Companies Books shall lie open (during the time above limited) at the House of Sir Francis Child, at Temple-Bar, and at the Companies Warehouse in Abchurch-Lane in London, for all Subscribers to enter their several Names and Subscriptions.
- 2. The Payment of the several and respective Sums subscribed, shall be in four equal Payments, and paid to Sir
Francis Child and
Partners, at the several times hereafter mentioned,
viz.
- One fourth Part, on or before the 3d day of April, 1690.
- One fourth Part, on or before the 3d day of July, 1690.
- One fourth Part, on or before the 3d day of October, 1690.
- One fourth Part, on or before the 3d day of January, 1690.
- 3. If any Subscriber do fail to pay the first Payment, at the Time and Place aforesaid, his said Subscription shall be totally void.
- 4. If any Subscriber having paid the first Payment, shall fail to pay any of the following Payments, a Penalty of 2 l. per Cent. for each Month, shall be charged to his Debt on Account; until his said Subscription shall be fully satisfied and paid, or until the whole Money by him before-paid, be thereby extinguished; and further, he shall be incapable to give any Vote at any General Court, or Court of Assistants, until he hath paid his Penalties and Subscriptions.
- [Page 3] 5. That whereas the present Company consists of four hundred Shares, at fifty pounds per Share, each Subscriber is to have one Share (which is to be added to the said four hundred Shares) for every fifty Pounds which he shall subscribe.
- 6. That every Subscriber, having made his first Payment, shall have one Vote at any General Court for each fifty Pounds by him subscribed, but no Member is to be chosen into the Court of Assistants, unless he be interested eight Shares at least in the joint Stock of the said Company.
- 7. That so soon as the first Payment of the Subscriptions, or the Major Part of the same shall be paid, a General Court of all the Members shall be summoned to choose such Number of Assistants, from fifteen to five and twenty, as the said General Court so assembled shall think fit; and the Day following another General Court shall meet for the choosing a Governour and Deputy-Governour out of the said Assistants, which Governour, Deputy-Governour, and Assistants so chosen, or the Major Part of them assembled, are to be a Court of Assistants, who are to take care of the management of the said Manufacture and joint Stock, and of all the Money that shall be received upon the Subscriptions, and are to continue until the 24th day of June next following every such Election, at which Time others are to be chosen and elected in like manner for the Year ensuing.
- 8. That the Stock and Dividends of each Member shall from time to time be obliged for such Debts and Engagements as such Member shall or may owe or be engaged in to the Company; and the Court of Assistants may and shall detain the same for the Benefit of the Company, till such Debts and Engagements are fully paid and satisfied.
- 9. That if any Person subscribing, have either Paper-Mills, Corn-Mills, or Streams, (in Places which the Governour and Court of Assistants so to be chosen as aforesaid, shall judg to be proper for the setting up the Manufacture;) the same shall be accepted of by the Company, at such value as they shall be appraised at by two Persons to be indifferently chosen, one by the said Court of Assistants, and the other by the Owners or Proprietors.
[Page 4] VVE whose Names are here-unto subscribed, do mutually Consent and Agree, and do hereby, each for himself only, and for his own Act and Deed, and for his own Executors and Administrators, severally, and not joindy, Covenant, Promise, and Agree, to and with the said Governor and Company, and their Successors, to pay the respective Sums of Money, by us hereunder severally Subscribed, to be employed, by God's Assistance, as a Stock in the Company of White-Paper-Makers, upon all and every the Terms, Conditions, Articles, Rules, and Penalties aforegoing. And we do severally oblige our Selves, our Heirs, Executors, and Administrators, for each of our Selves, and not One for Another, unto the said Governor and Company, and their Successors, to pay to the said Sir Francis Child and Partners, to and for the Use of the said Governor and Company of White-Paper-Makers, to be employed in, and for the carrying on the said Manufacture, our said several Sums of Money so by us Subscribed, on the several respective Days, and in the several and respective Proportions, and in manner as aforesaid.
In Witness whereof we have hereunto set our Hands and Seals, in London, this [...] day of [...] 1689.