, 1876-08-26

Councillor Of State, =.
Aaing Governor Of the Danish We$nndia LdQnds,
knight Of Danne6rog,
n JAKE KNOWN: On the most submissive
~ representation of the Ministry of Finances His Majesty
King has been most graciously pleased by resolution
10th June a. c. to sanction the following Ordinance con-
rning the establishment Of Central Factories and altera-
IN OF the regulations defining the relations between the
vners of landed properties and the rural labourers in st.
passed by Bird discussion in the Colonial Council
r st. Croix the 18th April 1876.
In case an Association of Shareholders or a J~olnt-stook Com.
ny be formed for the purpose Of promoting the sugar
oduction in ST. Croix by the establishment and working OF Cen.
II Factories and other undertakings Herewith connected, with a
st capital of which an amount not exceeding 2 Millions Crowns
to be furnished by the loan from the State-Treasury granted
law of 25th February l676,-the Government of the Danish
esdndia Islands, ia behalf of the Municipality of st. CroIx.
5umes the Obligations prescribed in the said law, there shall
GuarSteo of interest five per Cent. per annum, front
that part of the first capital which is not comprised In the
loan from the State Treasury, until the said loan has. been
repaid. This guarantee commences from the same time as
Che guarantee for the said loan, In such a manner
that if tho net proceeds Of the undertaking calculated
IN the manner set down in the statuteS,-that is, after
deduction Of the percentage which under the statutes shall
be added to the Reserve Fund-sh0uld in any wear fall
short Of the guaranteed interest of per Cent. on the loan
and 5 per Cent. on the remainder of the capital, the
deficiency thus caused shall be paid out of the Colonial
Treasury Of st. Croix. Should during one year, or
several years, the net proceeds Of the undertaking exceed
The collective amount Of the 7 and 5 per Cent. interest az
aforesaid, such surplus shall in priority be used to refund
eventual previous subventons made by the Colonial
Treasury In order to fulfil the guarantees whereas other.
wise no especial share of the surplus Is reserved to the said
Treasury, beyond the right it possesses as shareholder
If during the course of 3 consecutive years tha onoran-
tees assumed require q subyenti0n from the Colonial Tres.
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 q complete account, and to divide the proceeds.
if required augmented to the guaranteed amount, between
the State.treasury and shareholders In accordance with the
law of 25th February 1876, and the statutes. When under
this adminSI alton the Factories during 5 consecutive vears
have yielded q net proceed exceeding the guaranteed
amount, or when the subyention, made by the Colonial
Treasury In consequence of the guarantees, have been who'll
y refunded, the company is entitled to demand that the
administration of the factories be restored to them. In
consequence of the herein mentioned guarantees, Govern.
ment is entitled, irrespective of the control exercised BY
the Ministry Of Finances In accordance with the Law afore-
said, to control the undertaking, in which regard the COM
pany must submit to the rules issued by the Government
b. Immunity from the use ofstamped paper for the shares or
other bonds issued by the association or 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.
6 Immunity from duty on the importation to St. Croix Of all
the materials and machinery required for the first construo.
ton Of Central FACTORIES, provided such immunity be NOT
conceded IN consequence Of law of 3Oth June 1850, relating
to trade &al navigation in st. CrOix { 6 I. a.; also immu.
nifty from s~hjp.dues, cranage, wharfage and pilotage, even
toaIly calculated on such a part Of the tonnage of the yes
sells in which the materials in question are imported, 6
corresponds with the sliproom thereby occupied.
p.
AS soon as a Central Factory comes into operation the restrio
90 10 which Che rural lab0urers, agreeably to the Provisional
rdnance Of 26;h January IS49, are subject in regard to the dis
of thcir Iabour en- Saturday and the wages for such labour,
all in conformity with S Of the Law Of 25th February 1876.
abolished preliminariIy from that period and until the
royisional Ordinance Of 26th January 1919 with The later
pp]emeutary Ordinances regulating the relations between the
oprietors of landed properties and the free rural labourers in
t. Croix, he entirely abolished by Ordinance, within the expIra-
on Of The term fixed by 5 Of the aforesaid Law of 25th
1876.
To which all concerned have to conform.
The Government Of he Danish Hest India Islands,
y. {. 81, Cr0tr, the Sh August 1876.