, 1874-11-18

Treasury of st. Croix, shall be empowered to
grant such Joint-Stock Company the immuni-
ties and facilities hereunder set:
a. The Colonial Treasury's guarantee for 6
per cent. interest D. a, from the capital required
for the performance of the undertaking in ques-
ton in the manner determined by plans of the
work and estimates Of expenses, which must
previously be submitted to Government and
have been approved by the same. The guar
antee takes effect from the day when the CEN
trail factories full action, and lasts
for a term of 20 years, during which time it Sc
cures E per cent. interest OF the entire capital,
as above fixed, used in the erection and con-
%struction of the factories; in such a manner,
that if the net proceeds of the undertaking, cal
culated in the manner set down in the statutes
that is; after the deduction of the percen-
tage which under the statutes shall be added
to the Reserve Fund-should in any year fall
short OF 6 per cent, Of the amount expended in
the erection and construction Of the works, the
deficiency thus caused shall be paid out of the
Colonial Treasury. Should during one year,
or several years, the net proceeds of the under
taking exceed 6 per cent. of the said capital,
such surplus shall in priority be used to refund
eventual previous subventions made by the Co.
lonial Treasury in order to fulfill the guarantee
of interest whereas otherwise no especial share
Of the surplus is reserved the said Treasury,
beyond the right it possesses as shareholder.
If during the course of 3 consecutive years, the
guarantee assumed require a subyentiOn from
the Colonial Treasury of 2 per cent. or up
wards, Government, in behalf of the said Trea-
sury, Is entitled to assume the administration
Of the Central Factories, subject in this regard
to no other restriction from the company, than
Tho ohliro tiou To vooJor oyyarv vaor q 0On1Dlatn
account, and to divide the proceeds, if required
augmented to 6 per cent. between the share
holders according to the general rules laid down
in the statutes. When under this adminiStra-
ton the Factories during 5 consecutive years
have yielded a net proceed exceeding the in
terest guaranteed, or when the subventions
made by the Colonial Treasury in consequence
of the guarantee of interest, have been wholly
refunded, the Company is entitled to demand
that the administration of the Factories be res
t0red to them. In consequence OF the herein
mentioned guarantee Of interest, Government
is entitled to receive as aforesaid, plans of 0po-
rations and estimates of expenses, as we'll as
the statutes of the Company, and to control tho
erection Of the Factories and the use of the
paid-up capital, in all of which regards the
Company must submit to the rules issued by
Government.
0J Immunity IIOu 'u9 use vi SIdinP6u paper
for the shares or other bonds issued by the COM
pany in St. Oroix, in such a manner that the said
documents can be drawn up on unstampcd
paper AMI may be transferred without the
use Of stamps.
c.) Immunity from duty on the importation
to St. Croix, of all the materials and machinery
required for the first construction of Central
Factories; provided such immunity be not
conceded in consequence of Law 3Oth June
1850, relating to trade and navigation in ST..
Croix, ) 6 l, a, also immunity from ship dues,
cranage, wharfage and pilotago, eventually
calculated on such a part of the tonnage of the
vessels in which the materials in question are
imported, as correspondents with the ship
room thereby occupied.
II Is Nh n n Il s.