, 1875-02-03
lshment of Central Factories in St. Croix for the manu-
facture of cane sugar

ldCCuleo Vi CdI0 SuS"A =
1before. the end Of the year 1875 it be proved satisfactorily
to the Government of the Danish West India Islands that a
J%ointStock 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:
a. The Colonial Treasury's guarantee for 6 per cent interest
p. {. 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 must previously be sub.
mtted to Government and have been approved by the same.
The guarantee takes effect from the day when the central facto.
rhs commence full action, and lasts tor a term of 20 years, dur
ing which time it secures 6 per cent. interest of the entire
ca6itaI. as above fixed, used in the erection and construction
of the factories; in such o manner, that if the net proceeds of
the Undertaking, calculated in the manner set down in the
statates-that is: after the deduction Of the percentage which
under the statutes shall be added to the Reserve Fund-sbould
iii any year fall short Of FER 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 subventions
made by the Colonial Treasury IN order to fulfil 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 5 consecutive years, the
guarantee assumed require a subvention from the Colonial Urea
Sury of 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 restriction
from the company, than the obligation to render every year a
complete account, and to divide the proceeds, if required aug.
mentel to 6 per cent, between the shareholders according to the
general rules laid down in the statutes. When under this adj
minhtrat0n the Factories during 5 consecutive years have
yielded a net proceed exceeding the interest guaranteed, or
when the subventions 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, Government is entitled to
receive as aforesaid, plans Of operations and estimates of expen-
SEES, as we'll as The statutes Of the Company, and to control the
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.
b Immunity from the use of stamped paper for the shares
or other bonds Issued by the Company in st. CrOiX, in such a
manner that the said documents can be drawn up on unstamped
paper and may be transferred without the use of stamps.
o. Immunity from duty on the importation to st. Croix, of
all the materials and machinery required for the first consttuc-
ton of Central Factories; provided such immunity be not con
ce9ed in consequence OF Law 30th June 1850, relating to trade
and navigation in ST. CroiX, 6. l, a., also immunity from ship
dues, cranage, wharfage and pH0age, eventually calculated on
such a part of the tonnage of the vessels in which the materials
in question are imported, as corresponds with the shiproom
thereby occupied.
To which all concerned have to conform.
Government Of the Danish Wcsindia Islands,
St. Thomas, the 2la Of January 1875.
UNDER MY HAND AND THE SEAL OF GOVERNMENT.
AUG. GARDE.
Il. S.