, 1875-01-27

lishment of Central Factories in St. Croix for the manu-
tacure OF cane sugar
If before the end of the year 1875 it be proved satisfactorily
to the Government of the Danish West India Islands that a
J%omt-Stock Company for the purpose of establishing Central
Factories in st. CrOix for the manufacture of cane sugar, has
been formed in St. Croix, with a capital of at least one million
of dollars, the said Government, in behalf of the Colonial Trea-
sury of St. Croix, shall be empowered to grant such Joint
Stock Company the iumunities and facilities hereunder set:
az The Colonial Treasury's guarantee for 6 per cent, intarast
p. q. from the capital required for the performance of the under
taking in question in the manner determined by plans of the
work and estimates of EXPENSES. which mnst nrevionfpIu 10 ab
mitted to Government and have been approved bv the same
The guarantee takes effect from the day when the central facto-
rPs commence full action, aud lasts for a term Of 20 years, dur
ing which time it secures 6 per cent interest of the entire
capital, as above fixed, used in the erection and construction
of The factories; in such a manner. that if the net proceeds of
the undertaking, calculated in the manner set down in the
statutes-that is: after the deduction of the percentage which
under the statutes shall be added to the Reserve Fund-sbonjd
in any year fall short Of 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 dur
ing 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 subyentions
made by the Colonial Treasury in order to fulfil the onarontoo
of interest; whereas otherwise no especial share of the surplus
is reserved the said Treasury, beyond the right it possesses os
shareholder. If during the course of 8 consecutive wears. the
guarantee assumed require a subFention from the Colonial Trea.
sury of 2 per cent. or upwards, Government, in behalf of the
said Treasury, is entitled to assume the administration of the
Central Factories, subject in this regard to no other restrioGon
from The company, than the obligation to render eyerv vear a
complete account, and to divide the proceeds, if required AUG
mented d to 6 per cent, between the shareholders aocordiar ~ ~,
general rules laid down in the statutes. When under this adj.
ministration the Factories during 5 consecutive wears bovo
yielded a net proceed exceeding the interest onayantoo5 ~
when the subyentions made by the Colonial Treasury in conse.
quence of the guarantee of interest, have been wholly refunded
the Company is entitled to demand that the administration Of
the Factories be restored to them. In consequence of the here.
IN mentioned guarantee of interest, Gov eminent is entitled TO
receive as aforesaid, plans of operations and estimates of expen-
SEES, as well as the statutes of the Company, and to control tie
erection of the Factories and the use Of the paid.up capital. nj
all OF which regards the Company must submit to the rules
issued by Government.
" lmmun,Hy. from the use of stamped paper for the shares