, 1876-04-15

800 S@S o~AOU VIZ
that the purchases have been effected
and the works executed in accordance
with the plans and estimates that have
been drawn up by the company and
adopted by the Ministry Of Finances, in
which plans and estimates no alteration
must be made without the consent of the
said Ministry, Out of the funds intended
for the undertaking, no part must be used
for purchasing property in which a share
holder holds mortgage for debt due
TO him.
,. Seven per cent of the successfully
paid-parts Of the loan, calculated from the
date when such part is paid, shall be paid
annually, in such a manner that 5 per
cent. of the amount owed at any time is
calculated as interest, and the balance
is written off as instalment on the capital.
4. The Ministry Of Finances appoints. a
commission consisting of 2 members.
which, in behalf Of the Ministry, and in
accordance with the instructions given in
that regard by the said Ministry, exercises
such control with the realisation Of the
undertaking, as the said Ministry is by
the present law entitled to exercise. The
fee for the work performed by the Com
mission is fixed by the Minister Of Finan.
ces, one half to be betrayed by the state
treasury and one-haIf by the joint
stock company.
S. As security for the loan, instruments and
interest, the state treasury shaIl obtain
first priority mortgage in all the real
property, with plant and inventory, owned
in ST. Croix by the association or joint
stock company.
6. The colonial treasury Of st. Oroix assumes
the guarantee for the fulflment Of all the
obligations by the loan to be incurred by
the association or jOint-stock company.
The bond or (under the further decision
OF tho Ministry Of Finanoes) bonds that
are to be issued in acknowledgment Of
the loan, shall be p|royited with endorse
ment from the Government regarding the
said guarantee, as assumed by the colonial
treasury.
5.
The Minister Of Finances 10 authorized to
rant to an association or joint-stook company
I the description above set forth, and 10 a
}redit Association for the Sugar Estates in ST.
sanctioned b. the Government Of the
)aujsh West India Islands, exemption from
he use Of stamped paper in concluding con.
'acts regarding the establishment Of the cen.
raj factories. and in the issue Of shares or
which may be issued in favor Of the
Older or on name, In such q manner that in
as case the transfer may be effected by en-.
easement without the use OF stamped paper.
4.
The bonds issued by a Credit Association
II the Sugar Estates in St. Croix may be re.
eiyed By the state treasury in payment fer
lortgage-oIaims held by the said treasury
gainst estates (PIantager) in the said Island
az for the nominal value Of the bonds, pro-
ided the Credit Association pays 5 per cent.
aterest and 3 per cent. p q. amortization sn
be bonds thus Issued,
8.
Before any part of the loan enacted IN 81
an be paid out, an ordinance must have been
Promulgated in St. Croix, e~nacting that as soon
$ the central factory has comm need opera
ions, the rural laborers are free to dispose Of
heir Iabjur on Saturday, and that, latest 3
ears afterwards, the provisional ordinance OF
9Th January l840 and the later supplementary
rdjnances concerning the relations between
owners of landed properties and the free
ural laborers, shall be abolished.
which all parties concerned have to conform.
on Amalienborg. e5th February 1876.
Under Om Royal Hand and Seal
CHRISTIAN r.
Estrup.
n will he seen that while one half Of the