, 1876-08-19

Acting Governor Of the Danih Wcstindia Islands,
Knight Of Donne6rog,
A E KNOWN On the most submissive
representation of the Ministry of Finances His Majesty
le King has been most graciously pleased by resolution
10th June a. c. to sanction the following Ordinance con-
the establishment of Central Factories and altera-
on Of the regulations defining the relations between the
wners of landed properties and the rural labourers in St.
rolx, passed by Bird discussion in the Colonial Council
n st. Crolx the 18th April 1876.
In case an Association Of Shareholders or a Jolnt-Steok Com.
any be formed for the purpose of promoting the sugar
reduction in St. Crox by the establishment and working of Cen
al Factories and other undertakings herewith connected, with a
rst capital of which an amount not exceeding 2 Millions Crowns
7 law Of 25th February I876,-the Government of the Danish
Testindia Islands, in behalf of the Municipality of St. Oroix,
'sumes the obligations prescribed in the said law, there shall
rhermOre be granted:
q. Guarantee Of interest of five per Cent. per annum4'om
that part Ofthe 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
the guarantee for the said loan, in such a manner
that if the net proceeds of The undertaking calculated
in the manner set down in the statutes,-tbat is, after
deduction of the percentage which under the statutes shall
BIZ added to the Reserve Fund-shoul1 in any year 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 he undertaking exceed
the collective amount Of the 7 and 5 per Gent. interest as
aforesaid, such surplus shall in priority be used to refund
eventual previous subventi0ns 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 the guaran-
tees assumed require a subyendon from the Colonial TTea-
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 TO other
restriction from the Company than the obligation to render
every year a complete account, and to divide the proceeds,
II 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 administration the Factories during b consecutive years
nave yielded a net proceed exceeding the guaranteed
amount, or when the subvention, 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.
Z. immunity from the use of stamped paper for the shares or
other bonds Issued by the association or company In
0t. CrolX, In such a manner that the said documents can
be drawn up on ulnstamped paper and 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 construc-
ton of Central Factories, provided such immunity be not
conceded in consequence of law of 3Oth June 1850, relating
to trade and navigation in St. Croix s 6 |. a. also immu-
nifty from ~ship-dues, cranage, wharfage and piotage, even
tuaIy calculated on such a part of the tonnage of the yes
sells in which the materials in question are imported, as
corresponds with the shiproom thereby occupied.
So.
As soon as a Central Factory comes into operation the restrio-
on to which the rural labourers, a%greeably to the Provisional
ordinance of goth January 1849, are subject in regard to the dis
0sal OF their IabOur on Saturday and the wages tor such labour,
hall in conformity with s S of the Law of 25th February 1876,
8 abolished preIminarily from that pc Rod and until the
Provisional Ordinance of goth January 1949 with the later
Ordinances regulating the relations between the
r0prletors of landed properties and the free rural labourers In
Croix, be entirely abolished by Ordinance, withfn the ex pira.
'ebruary 1876.
To which all concerned have to conform.
The Government gftfe Danish Wed India Islands,
p. l. st, Croir, tie 9Th august 1876.
UNnuD rru usUD ANN UvD cv,.x ar