The Sun.
London, England, 1825-06-02 00:00:00

LONDON UNEVERSIVf.

11—•
The following i 5 ahstracl -.lVic..B.ctouGna>l s
,
Bill, the preamble of which sets- forth, that it is expedienrto, •
enable cite inhabitants of the cities of Lominn and WestroinSter,
and the borough of !•,..iouthwark, to. establiA a collage ,for,
education of youth in the Sciences and in letters, whiCh can-not be formed without the sanction of Parli:unent, though a-
body of prontietors, not yet natned in the Bill; are willing to
erect and establish the college at theirown expellee.. Tire-share-
holders are to be incorporated under a style and title which is •
left blank in the Bill, and is to have a common seal.
The company is to be empowered to raise a competent 3411-Of
money far erecting and maintaining the Idatitutionovhich may
consist of a college or collegei: The sum is to be divided, into
shares of the given amount each, but that amount is 'Who, eft
blank in the bill; add these shares are -to be cOnsidefed
aonel estate, transmissible as such, and not of the-Nature stf
real property. An additional sum, if-neeeSsiity, miff lie'.rised
among the coMpany of proprietors -theniselVia • or'brj• the ad-
mission of new shareholders-as they third: =
The company is to hold general assiantilies,: giving previous.
notice it/the Gazette and LonCion-fapers.
.are
to be held once a-year, in sortie Place-in:the eity(fr--Ltniden- or
county of Middlesex ; and the Chairman appoidtedetit each
meeting may vote as a proprietor or a proxy; and also bave4he
casting vote in case cf • an 4ml-division' of l'thellroptie.tOrs.77
These general assemblies are to have the power of adjourning-
, front time to time, and an assembly .of the'-Cornpany maybe;
specially convened by noticeTas aforesaid.
I The company may make, repeal, 4r`:-alter-by=laws for the-
goverment of tnernselves,- their professorse, students, offieirs,,
servants, or agents ; and may fik•atid appoint• fines and pe-
nalties, not exceeding -an amount and .degree which is yet
left blank in the Bill. The Directors are to. -be appOinted
by ballot, in a box or wheel, and auditorafor examining and
passing the accounts of the institution. • .The company.,- or,-the •
directors, may sue for the amount .or the subscriptions of such
shareholders as shall refuseto pay them up:- 00 the death of a stili•
scriber before the shares are fully paid up, his executors may cont-
plete the payment. The -Directors need not sue. for non-pay-
ment of shares,. but may, if they so think fit, declare the money
already advanced forfeited to the institution • , and notice of
that declaration will: -be 'a • sufficient . indemnification to the
proprietor , not paying..up.'his. subscription-money from 411
actions, suits, :or ;proceedings-on that account. No more of
the share of such defaulters' are. to be sold than may he suf-
ficient to make up the deficiency, together with the interest and
expences attendin'g the as-me. ”-The Proprietors are to be 111416-
vidually 'and' personally liable for all debts contracted on- the.
part of the Company. Shares maybe sold or disposed' of under
a specific form of conveyance.; -but after a call for an advanCe
upon the former subscription,. no share can be sold or trans-,
ferred until that calks paid lip.. •
. Corporations anti-individuals may sell or, convey property
to the institution under a specific.- form of conveyance, and all
such contracts, agreements, ,oreales, are to be made-at the ex-
pence of the Company... The form of conveyance is not to be re-
quired in the resale of lands .by the Company. The words
"grant, bargan, and sell," in. the conveyances are to be con-
strued. and :adjudged in all Courts Of. Jtidicature as express e.t.o
venants fur title. :Service of notices or writs are to be 'made,
Upon any- of: the directors,-ot upon the. clerk of the Company,
or left art the last`usual place' of abode of the clerk, or at the:
company's elute ; :but if that cannot he found or known, then.
service to he maderefte any -agent or officer of the company, or
at his last or Usual. place of abode.. . „.