Mr. George Oldner's invention to preserve ships from foundering, or sinking, at sea, etc. experimented & approv'd : and now propos'd for the universal good of all nations concern'd in navigation : as appears by the following proposal.

Shipping Preſerv'd FROM Foundering, or Sinking, at Sea, OR, IN Bays, Harbours, Rivers, or Creeks, &c.

BY an INVENTION, which has been Experimented and Approv'd, as appears by the Certificate inſerted in the following Propoſal, under the Hands of ſeveral Merchants of Great Note, Worth, and Eminency in the City of London, The Invention experimented by Perſons of Note, and the Advantages thereof. who are themſelves conſiderable Owners in, and Builders of, many Ships and Veſſels; as alſo of ſeveral Commanders of Ships, being Men of great and long Experience, Skill, and Judgment in the Nature and Building thereof, for many Years; to be a real, practicable, and neceſſary Contrivance, greatly wanted in all Ages paſt, and now attain'd to, by Mr. George Oldner, of London, Merchant: By which ſaid Invention Shipping, Merchandiſe, and Mens Lives, will certainly and effectually be preſerved, far better than by any Method that has hitherto been known, from all Dangers occaſion'd by ſuch Accidents and Defects as are particularly, and at large, ſet forth in the following Propoſal, viz.

WHEREAS His Majeſty has been graciouſly pleas'd to grant his Royal Letters Patents to George Oldner and Andrew Prime, of London, Merchants; The Preamble of the Patent obtain'd. for the ſole Uſe and Benefit of an Invention or Contrivance applicable to Shipping of all ſorts, already built, or hereafter to be built, as well His Majeſty's Navy Royal as all other Trading Ships and Veſſels; The Invention attain'd applicable to Ships already built, as hereafter to be built. The Benefit and Certainty thereof. which the ſaid George Oldner, by many Years Experience in Shipping, long and mature Conſideration, and large Expence of Time and Money, hath now perfectly attain'd unto; by the benefit whereof all ſorts of Ships and Veſſels ſo fortified, will with all the Certainty imaginable, be effectually preſerv'd from Foundering or Sinking at Sea, &c. occaſion'd,

1st, By Worm-holes, want of good Cawking, The Ʋſe of the Invention at large particulariz'd. or decay of Cawking, decay of Bolts, Trunnels, or Planks.

Or, the ſpringing or ſtarting of Planks, or the Butts of Planks, or of Hudd-ends, &c. which frequently happens by Ships labouring in the Sea.

2dly, By any ſort of Leaks, Ships preſerv'd from ſinking by any ſort of Leaks, &c. and the ſame diſcover'd and mended, and the Ships ſtronger. which would otherwiſe immediately ſink them, notwithſtanding the extream continual Labour and Help of Men and Pumps, as is now done, tho' often in vain, little of either being here requir'd to enable them, at leaſt, to keep the Sea till they can make ſome Port or Harbour: Which Leaks, to all Ships and Veſſels ſo common and fatal, by this Invention will, with but very little Care, common Skill, and moderate Labour, be effectually prevented, or eaſily diſcover'd and mended. The Ships alſo, by the ſame, will be more tight and ſtrong, to endure all Storms or Accidents that they are liable unto.

3dly, By means of this Invention, Ships and Veſſels being preſerved, Mens Lives, Goods, &c. preſerv'd from damage by Water, and His Majesty's Cuſtomsencreas'd. as aforeſaid, not only the Lives of the Seamen and Paſſengers are likewiſe at the ſame time ſaved, but the Stores, Proviſions, Ammunition, Goods and Merchandiſe are for the moſt part ſecur'd from Damage, the prevention of which will greatly augment His Majeſty's Cuſtoms; which Damages otherwiſe unavoidably accrue, by Water entring ſuch Ships or Veſſels.

4thly, The many Diſtempers and Contagions which Seamen and Paſſengers are incident to in long and tedious Voyages, and more eſpecially in hot Countries, The Diſtempers and Evils occaſion'd by the Bilge-water, (as is the Opinions of Naval Surgeons) prevented by the Ships being perfectly freed from the ſaid Bilge-water. oftentimes occaſioning ſo great a Sickneſs and Mortality, that there are ſcarcely Hands left to bring home the Ship, by reaſon of the Putrifaction and poyſonous ſtench of the Bilge-water, whoſe ſubtle and ſecret Infection is the prime and general Cauſe thereof, according to the Opinions and Judgments of ſeveral eminent Naval Chyrurgeons; as appears by a printed Paper lately produc'd to the Parliament, tho' the Men on board may not diſcern it: Which common and fatal Evil will by this means be certainly and eaſily prevented, by freeing all ſuch Ships and Veſſels from the ſaid Bilge-water, and keeping them perfectly ſweet and clean: The Advantages and unſpeakable Benefits of which, further appears in a True Copy of the ſaid printed Paper, which is as followeth, viz.

THESE are to Certifie whom it may concern, An exact Copy of the ſaid Surgeons Certificate. That we whoſe Names are under-written, are very well aſſur'd, that the odious Stench in Ships, ariſing from the Bilge-water, is not only pernicious and deſtructive to the Health of the Men, eſpecially in Hot Countries and long Voyages, but oftentimes produces Contagious Diſtempers, to the Ruin of many Mens Lives on Shipboard. Whereupon, we do verily believe, That an Invention capable of effectually preventing or purifying the ſame, will not only be of Singular Advantage to His Majeſty and the Merchants, but an Ʋnſpeakable and Ʋniverſal Benefit to all concern'd in Sea-affairs.

Atteſted by Ʋs, Naval-Surgeons, James Waſſe, John Kent, Archibald Arthur, Hen. Batchelor, Edward Tanner, Chr. Robinſon, Rich. Griffis, Richard Boare, Alex. Innes, William Douglas, Gerrard St. Clare, Tho. Vigures, John Gill, James Lauther, Rich. Springall, P. Heart, Alex. Kilpatrick, W. Angus, Robert Forbes, Si. Aſhton, J. Cloake, And. Martin, Tho. Tuker, Chr. Brown, J. Boinough, Cary Rocheſter, Will. Lake, Jno Tomkins, Hugh Munro, Jno Cholmeley.

5thly, By Damage occaſion'd to Shipping by great Shot, Ships better preſerv'd from Damages by great Shot or by ſtriking upon Sands, &c. or by their ſtriking or running upon Shoals or Sands (unleſs at once broke to pieces) from which Damages they will be more effectually preſerv'd, than by any means hitherto known; or, at leaſt-wiſe, Time may be gain'd for ſaving the Cargo, and the Mens Lives.

6thly, By means of this Invention, Water ſhipt from aloft, Water entring the Hold from aloft diſcharg'd, and hidden Leaks diſcover'd and mended. and by that way entring the Hold of the ſaid Ship, wil eaſily and much more effectually be diſcharg'd, than by any means now commonly practis'd or known: And alſo any ſorts of Leaks, which for many Voyages have lain hid and undiſcover'd, will readily be found out and mended.

7thly, This Invention is ſo contriv'd, The conveniency, cheapneſs, and durability of the ſaid Invention. that it will take up but very little room, and require very little Labour, not at all hindering the ſailing, nor Stowage of Goods in Ships or Veſſels; not difficult, and but of ſmall charge to be done; Not interfering with the Shipwrights, &c. Navigation, &c encourag'd to the advantage of all Nations concern'd therein. is very durable and laſting, no ways interfering with the Shipwrights or Carpenters, but in many caſes facilitating their Work and Buſineſs. By means whereof Trade and Commerce, Travel and Navigation, will greatly be ſecur'd, enlarg'd, and encourag'd, and thereby become an Univerſal Benefit and Advantage to all Crowns, Kingdoms, and States concern'd in Navigation, and to all Sea-faring Perſons and Marine Dealings: The deplorable loſs for want of this Invention in Ages paſt and preſent, as to Men, Ships, and Cargo. For want of which Invention, what Great Deſigns have miſcarried, what Immenſe Riches has the Sea ſwallow'd, and how many great and excellent Perſons have deplorably periſh'd? What Numbers of the King's Ships, of the East-India, African, Levant, and other Companies; beſides great numbers of other rich Trading-Ships and Veſſels have been loſt within theſe few Years paſt, together with the vaſt number of Men which have miſerably loſt their Lives in the ſame, many of which might certainly have been preſerv'd, had this Invention been then in practice; ſeveral remarkable Inſtances of which kind might be enumerated, but ſuch fatal Accidents being but too well known to moſt People, would here be too tedious and large to recite.

In conſideration whereof, The Motives to the Patentees for putting the ſame in practice the ſaid George Oldner and Andrew Prime, for the more effectual and ſpeedy putting in practice and carrying on the ſaid Invention, of ſo extenſive and univerſal a Good and Benefit to all Mankind, have already begun and made their Application to, Their Treaty already begun with ſeveral Nations. and Treaty with His preſent Majeſty and the Admiralty; as alſo to the Court of France, and States of Holland; which latter have ſince ſent for the ſaid George Oldner, he offering to go (to receive a Conditional Reward upon his performing and making good what is here propos'd) and return in a Ship thus fortified, having ſuch a Breach, The States of Holland's Invitation to the Inventor, and his Offer to the States. that Twenty of the beſt-known Pumps, tho' manag'd with as many Hands as can work them, ſhall not be able to ſave the Ship four or five hours together from ſinking; which yet by this Invention ſhall be done with the uſe but of two Pumps, ſtanding in as little room, The performance of the ſaid Invention. and requiring as little ſtrength, as thoſe now generally us'd. And the ſaid George Oldner alſo offers, as a further confirmation thereof, The Inventor's further Offer for confirmation. That a Ship of two or three hundred Tun having great and dangerous Leaks and Breaches, yet by being thus fortified, may with ſafety to the Ship, Men, and Cargo, make a Voyage to and from the Eaſt or Weſt-Indies, &c. ſecur'd from Damages by ſuch Leaks or Breaches, and the other Accidents, Dangers, and Defects before mention'd.

And they the ſaid George Oldner and Andrew Prime do alſo deſign and reſolve, The Patentees further Deſign to extend the ſame to all Nations in Europe. that the ſaid Invention ſhall be further extended, by due and proper management, not only to the Crowns, Kingdoms, and States of Europe afore-mention'd, but alſo to Scotland, Ireland, and Spain, and all other parts of the World intereſted and concern'd in Naval Affairs. And the more to facilitate, In order to which, the ſaid Invention is divided into 6000 Parts or Shares. and the better to enable them to proceed in the Negotiation thereof, with the greateſt Diſpatch poſſible, they the ſaid George Oldner and Andrew Prime, by the Advice and Entreaty of ſeveral Friends, have conſented to divide the whole Concern and Invention into Six thouſand parts or Shares, and to diſpoſe thereof as hereafter is propos'd.

And the Nature of the ſaid Invention being ſuch, that it cannot admit of any publick demonſtration, Reaſons why publick demonſtration may not be given. as to the manner how the ſame is perform'd, without diſcloſing the whole Secret; which tho' the Letters Patents oblige all the Subjects of England not to practice nor imitate the ſame, without Licenſe from the Patentees, yet other Nations may, without the Conſent of the ſaid Patentees, to the prejudice both of the Nation (our Shipping becoming more chargeable than theirs) and of the Patentees alſo, by their getting that gratis for which the Patentees and Proprietors preſume and reaſonably hope to have a Conditional and Suitable Reward for ſo great a Good, as well from Foreign as our Own Government.

All which Reaſons and Conſiderations have oblig'd the ſaid Patentees, Inſtead of an offer of a publick Experiment, a Certificate annex'd. inſtead of an Offer of a Publick Experiment to annex the following Certificate of the great Univerſal Benefits, Truth, Conveniencies, and Practicableneſs of the ſame under the Hands of ſeveral Perſons of known Worth and Credit, not doubting but that it, The Credit of the Inventor, and Perſons attesting the certainty of the ſaid Invention, not reaſonably to be queſtion'd. together with the ſaid Perſons themſelves atteſting the ſame, may ſuffice to anſwer and ſatisfie all the Scruples, Doubts, and Queſtions of any Ingenious Enquirers, whether Subſcribers or others. The Perſons that have ſign'd the ſaid Certificate, as well as the Patentees themſelves, being Men of known Integrity and Honeſty, as well as Judgment and Skill, in the Affairs of Shipping; and being for that end, by the Patentees, upon ſolemn Promiſes and Obligations of Secrecy, acquainted with the whole Matter; An Affidavit of one who ſaw the Experiment of the ſaid Invention, which is filed in Chancery; as likewiſe the atteſtation of the Builder of the Model. and having alſo ſeen an Experiment of the ſame, as is herein after-mention'd: All which, to the ſame effect, tho' not altogether in the ſame form, the Sollicitor-General reports, That an Affidavit was produc'd to him by one (who had depos'd before a Maſter in Chancery, where the ſame is filed) that he ſaw the Experiment made in the like manner: And the ſame alſo was ſeen and atteſted by the Builder of the Model, in which the Experiment was made, and likewiſe filed in Chancery, as aforeſaid.

And they the ſaid Patentees do aſſure all whom it may concern, Where a Copy of the Inſtruction to, and Report of the Solicitor-General, and other Papers of note, are to be ſeen, &c. that the Truth hereof is alſo further atteſted, as appears by a Paper containing a Copy of the Inſtructions to, and Report of the Sollicitor-General, upon the reference of the Petition from the Lords Juſtices in Council, for the Patent; which, with other Papers of note relating to the ſame, are to be ſeen or perus'd by any ſober Perſon at Mr. Andrew Prime's, (one of the Patentees) at the Red Bull in Budge-row, London.

A True Copy of the Certificate, ſign'd by the Perſons before mention'd, who ſaw an Experiment of the ſaid Invention made, as followeth, viz.

THIS is to Certifie all whom it may concern, Note, That the ſaid Model was built by a Scale, every Inch repreſenting a Foot, and the whole repreſenting a Ship of about 140 Tuns. That we whoſe Names are hereunto ſubſcrib'd, have ſeen an Experiment of the Invention of Mr. George Oldner, for the preventing Ships and Veſſels from Foundering or Sinking at Sea, &c. in the Model of a Ship about ſix foot in length, upon the River of Thames, where it did float deep loaden, and, without all doubt, would have continued ſwimming for many Months, notwithſtanding two large Breaches which ſhe had on each ſide near the Keel: And had not the ſaid Invention been affixed to the ſaid Model, ſhe muſt and would unavoidably have ſunk down in a very few minutes ſpace; and was only preſerv'd from ſinking by the ſaid Invention. Which we being fully convinc'd by the reaſon of the thing, and Demonſtration given, find it to be a Real and Ingenious Contrivance, and, we ſincerely believe, will anſwer what is above propos'd, and be of great Ʋſe, Benefit, and Advantage to all Nations intereſted and concern'd in Navigation; and doth therefore very worthily deſerve all due Encouragement and Eſteem. Witneſs our Hands, in November, 1698.

Sir William Aſhhurſt, Knight, and Alderman, ☞ Note, Sir William Aſhhurſt, not being well, and the Wind blowing very hard and cold, could not stay to ſee the Model loaden, as the others than did. as alſo Member of Parliament for the City of London. Sir James Collet, Knight, late Sheriff of the City of London. Sir Thomas Cuddon, Knight, and Chamberlain of the City of London. Mr. Arthur Shallet, Merchant, Member of Parliament for Weymouth. Mr. Thomas Lurting, a Virginia Commander, and Surveyor of the building of many Ships. Mr. William Warren, alſo late Commander, and Surveyor of the building of many Ships. Mr. Richard Haynes, Merchant. Mr. Thomas Byfeld, Merchant. Mr. Richard Oldner, Coal-merchant, who made Affidavit of the ſaid Experiment, which is filed in Chancery. Mr. John Webb, Shipwright, and Builder of the ſaid Model, whoſe Solemn Affirmation of the ſaid Experiment is alſo filed in Chancery. Mr. George Oldner, Junior.

☞ Note, That the Hands of many more Perſons skill'd in Shipping might have been obtain'd, had it been thought convenient further to have entruſted the SECRET; but the Testimonies here given, 'tis preſum'd, will be a ſufficient demonſtration to the World, that the ſaid Invention is Real, Practicable, and Neceſſary; as by the many curious and nice Objections and Queries which were made by the Perſons ſigning hereto, and which were diſtinctly and amply Anſwer'd to their entire ſatisfaction; And the ſaid Mr. Lurting, and Mr. Warren, being ſo throughly convinc'd and confirm'd in the Certainty of the ſaid Invention; that they voluntarily offer to go in a Ship of any burthen, having great and dangerous Leaks or Breaches, as aforeſaid, (She being provided with this Invention) to the Streights or Weſt-Indies, &c.

Therefore all theſe Advantages, by means of this Invention, accruing in general to the Publick as well as Private Perſons; To obtain Advantages from all Nations, being too great a Work to the preſent Proprietors. and the Work, (to accompliſh the ſame effectually, and to obtain all the Rewards, Encouragements, and Advantages due from all Nations to ſo Great and Certain a Good) being thought too great and too heavy to the ſaid Patentees and the preſent Proprietors; and that their being thus advis'd and perſwaded (as they really are) to offer to diſpoſe of ſo many Parts or Shares of their ſaid Invention, To take the Aſſiſtance of others, &c. no ſinister Ends in them. as in the following Propoſal, (as well to ſtrengthen their Hands with Men as Money, both being eſſential to carry on the ſame with Vigour and Diſpatch, as aforeſaid) is hoped cannot be juſtly term'd any Siniſter or Self-ends in them, eſpecially they being Men of known Reputation, Integrity, and Credit, who would not offer to the World either a ſlender or fruitleſs Propoſal. The Invention at firſt hearing, incredible; when known, aſtoniſhing. Tho' at the bare hearing of the Nature, Uſe and Excellency of the ſaid Invention, it may ſeem almoſt incredible for any Perſon to believe, yet when ſeen and underſtood, is immediately admir'd and eſteem'd, even to an Aſtoniſhment and Wonder that the Thought ſhould not have occurr'd for Ages paſt.

So then as there need be no further Doubt or Queſtion, but that this Invention, Real and neceſſary, therefore will be embraced. as it is real, will therefore be equally embraced and made uſe of in the Shipping of all Nations, ſo it will alſo raiſe large Profits to the Patentees, Partners, and Subſcribers, it being ſo very beneficial, convenient, and neceſſary; which, beſides the great Advantages already mention'd, there are many more which cannot be publiſh'd at preſent, As likewiſe profitable to all concern'd. without endangering the Secret; but this in ſhort, That Shipping being ſo fortified and ſecured by this Invention, Inſurance muſt conſequently be more reaſonable than it now is, and Inſurers, Owners, and Merchants ſtill greater Gainers; which, among the Profits that ariſe and accrue by means of the great and general Safety of this Invention, Inſurance thereby made eaſier, and Inſurers, Owners, &c. greater Gainers. may be deem'd a Conſiderable Article. And as to ſome further Advantages, which may reaſonably ariſe to all that ſhall ſubſcribe or become Partners herein, take the following Scheme.

A Short View how, and from whence, the ſaid PROFITS and ADVANTAGES may ariſe, is as followeth, (viz.)

First, Rewards from ſeveral Kingdoms and States, &c. FROM His Majeſty of Great Britain, and the other Princes and States, &c. viz. France, Spain, Portugal, Swedeland, Denmark, the Princes of Italy, the States of Holland and Venice, Genoua and Hamburgh, &c. It being but reaſonable to hope that a ſuitable and grateful Reward may juſtly be expected and obtain'd, eſpecially ſince it is only propos'd Conditionally to the ſaid ſeveral Governments; Conditional. and the Invention, to admiration, being ſo demonſtrably plain and obvious to all that have ſeen it, The ſevention demonſtrable. and will as certainly be ſo to all who may hereafter ſee the ſame, and beyond peradventure, The Rewards deemed certain. will be ſo effectual in performing, that ſuch Rewards may be therefore juſtly deem'd nothing leſs than a Certainty to all concern'd therein. Not that the Patentees will preſume to aſſign or aſcertain the Quantum of ſuch Rewards, Tho' the quantum is not aſcertain'd, yet is thought may double the preſent Eſtimate of the whole. At 10 l. per Share. but the Merit of the Contrivance, being ſuch, that it may be modeſtly thought and expected the ſame will not be leſs, but more than what may double their preſent Eſtimate of the whole at Ten pound per Share.

Secondly, From Subjects of England, &c. by vertue of the Patent, &c. From all the Subjects of England concern'd in Shipping, as the Eaſt-India, African, Levant, and other Companies, as alſo other Merchants and Owners, by vertue of the Powers and Priviledges granted to the Patentees, whereby they may by Agreement with the ſaid ſeveral Companies, Merchants, A Quantum per Ship or Tun may be well afforded, &c. and Ship-Owners, &c. have reaſonable Recompence annually for directing and fitting their ſeveral Ships and Veſſels, according to this propoſed Invention, either by a Quantum per Ship or per Tun, &c. which the Owners of the Ships and Veſſels, as they may better afford, ſo they will, without all doubt, The Profit great, the Charge ſmall. chearfully and readily pay, the Advantage that accrues hereby being ſo very great and manifeſt, and the Charge thereof but ſmall and inconſiderable.

Or otherwiſe upon a due Application to the Parliament, Application to the Parliament to have the Quantum and Time aſcertain'd and confirm'd to the ſaid Patentees and their Partners.

The Number of Tunnage of Shipping belonging to England, Tunnage of England 500000 according to the Computation of Sir William Petty, printed in his Political Arithmetick, Anno 1691, amounting to Five hundred Thouſand Tuns; which at as reaſonable a rate as the Owners themſelves can fairly deſire or offer, would amount to ſuch a ſufficient Annual Income as the Patentees and their Partners can reaſonably deſire.

Thirdly, Rewards from Scotland, Ireland, &c. Rewards from the ſeveral Merchants and Owners of Shipping in Scotland, Ireland, New-England, New-York, Penſilvania, and the other Engliſh Plantations, being as equally to be expected as from any other Kingdoms or States, Another Patent promis'd. from the latter of which a Promiſe of a Patent, by the Governour, is made to the preſent Patentees.

Fourthly, There is alſo great reaſon to hope and expect, Rewards from France and Holland expected by Privi ledges uſuallygranted. that a Conſideration may be obtain'd from France, and the States of the Ʋnited Provinces, not only for their Ships of War, but alſo from their Merchants Ships, by ſuch Powers and Priviledges as are in the like Caſes by them granted according to the Informations given us.

And the like may be fairly expected from the Subjects of other Governments, whether Crowns or States. As alſo from other Crowns and States, &c.

The Number of Tunnage of the Dutch Shipping, The Tunnage of Holland 900000. according to the ſaid Computation of Sir William Petty, amounting to Nine hundred Thouſand Tuns; Of the reſt of Europe, 600000. and the Tunnage of the reſt of Europe, according to the aforeſaid Computation, being Six hundred Thouſand Tuns.

And moreover, as a further Advantage to the Parties concern'd, Twenty per Cent. A fifth part of the 4000 ſhares for a Stock. of the Four thouſand Shares, which upon the compleating of the Subſcriptions (hereby intended) will be a Stock of Eight thouſand Pounds, to be left to the management of the Committee mention'd in the following Propoſals, and will be to the Advantage and Benefit of all the Proprietors and Subſcribers, according to their ſeveral Intereſts.

The Shares alſo propos'd at 10 l. per Share, The Shares now bona fide valu'd at 20 l. per ſhare, but propos'd at 10 l. purpoſely to encourage Subſcribers. which are by all, or at leaſt moſt that in any meaſure underſtand the Nature of the Invention, now really and bona fide valued at 20 l. per Share, and is not doubted but will be ſo, at leaſt, upon the final cloſing of the Books: Which Advantage is deſignedly and purpoſely left an Encouragement to all that ſhall become Subſcribers.

So that the ſummary View of Profits and Advantages here given, The Profits and Encouragements certain. and the Patentees and Proprietors having already begun to make Treaties, as is before hinted, and there being ſuch an evident Demonſtration of the certainty of the Invention performing what is here propos'd, as appears by the Model and Certificate, and that the Profits will thereby certainly accrue, is thought ſatisfactory enough to remove all Doubts and Queſtions, whether the ſame will anſwer, as is by them ſet forth and expected, and be a ſufficient Encouragement to all Perſons that ſhall become Subſcribers or Partners herein.

Upon the whole matter it may appear, by the Inſtances and Teſtimonies aforeſaid, that the ſaid Invention is Real and Practicable, The Encouragement of the Parliament, and all wiſe and honeſt Men, juſtly expected. the Uſe great, and of univerſal Good and Neceſſity; the Profits certain, both to the Publick, as well as to all that are or ſhall be concern'd therein; the Patentees honeſt, and ſincere in their Propoſal; a Conditional Reward from all Governments and States, &c. the Encouragement of the Parliament, as aforeſaid; and laſtly, the unanimous Concurrence of almoſt all Wiſe and Honeſt Men, but juſtly and deſervedly to be expected, in order to put the ſame into practiſe with all the ſpeed and good management imaginable: And for that end a Sum of Money being needful to be rais'd, it is by the ſaid Patentees Propos'd as followeth.

THE PROPOSALS For Taking Subſcriptions to this Invention, VIZ.

I. THE Whole, The whole divided into 6000 Shares, as enroll'd in Chancery. according to the Settlement between the Patentees and preſent Proprietors, as enroll'd in Chancery, is divided into Six thouſand Parts or Shares, which are to be diſpos'd of in manner following.

II. That Five thouſand Eight hundred of the ſaid Six thouſand Shares ſhall be diſpos'd of by Subſcription, at 10 l. per Share, Whereof 5800 to be diſpoſed of by Subſcriptions at 10 l. per Share, and 200 in Truſt, as aftermention'd and the remaining Two hundred Shares ſhall be ſubſcrib'd by the two Patentees, or either of them, without paying down any Money; and to be veſted in the ſaid Patentees, in Truſt, for the Uſes and Purpoſes herein after-mention'd and expreſs'd.

III. That the Patentees and preſent Proprietors, or their Aſſigns, ſhall have free Liberty to ſubſcribe any number of the ſaid Five thouſand Eight hundred Shares, The preſent Proprietors have liberty to ſubſcribe 1800 Shares for their own uſe, with equal Advantages, paying down no Money, and eſteem 10 l. per ſhare not near the real value. not exceeding Eighteen hundred in the whole, for the proper uſe of the ſaid Patentees and Proprietors, without paying down any Mony, and thereby be as equally entituled to them with all the Benefits and Advantages in this Invention, as if they had actually paid down Money for the ſame, all of them being reſolv'd to ſubſcribe, at leaſt, each his Quota of the ſaid Eighteen hundred Shares, and moſt of them many more, (as not eſteeming 10 l. per ſhare near the real Value thereof) And therefore do hereby promiſe and declare, that they alſo will retain their ſeveral Quota's of no leſſer a number than Twelve hundred Shares in the whole; and will not ſell nor diſpoſe of any thereof, until the Firſt Day of January 1699, unleſs by Advice and Conſent of the majority of the Committee hereafter to be choſen.

IV. That the Two hundred Shares veſted in the Patentees in Truſt, as aboveſaid, be diſpos'd of and apply'd to the Uſes following, (viz.) One hundred Shares thereof to the ſole uſe, benefit, and advantage of Greenwich Hoſpital, 100 Shares, (1000 l. value) for Greenwich Hoſpital. which at the compleating the Subſcriptions will be equivalent, at leaſt, to One thouſand Pounds in Money. One hundred other Shares of the ſaid Two hundred, be inveſted in the ſaid Mr. George Oldner ſen. Mr. Richard Oldner ſen. Mr. Andrew Prime, Mr. John Knight, 100 more ſhares in Truſt (1000 l. in value) for the uſe of the Company of Watermen, &c. and Mr. George Oldner jun. their Executors, Adminiſtrators, or Aſſigns, (as Truſtees) to be applied only for the ſole uſe and benefit of the Company of Watermen, for and towards the Education of the Children of the Freemen of the ſaid Company, in Engliſh, Writing, and Accompts, as alſo ſuch parts of the Mathematicks as are or ſhall be neceſſary to Navigation; which alſo, at the compleating of the ſaid Subſcriptions, will be equivalent, at leaſt, to One thouſand Pounds in Money.

V. That the Books for taking Subſcriptions will be laid open on Monday the 9th of January next, When, how long and where the Books are to be open'd for taking Subſcriptions, &c. at Robin's Coffee-houſe in Exchange-Alley, London, from Ten to Two, and from Four to Six a clock, and will be continued open until Saturday the 14th Ditto incluſive, unleſs the whole Six thouſand ſhares be ſooner ſubſcribed; but if any Shares, at the cloſing of the Books, ſhould be left unſubſcrib'd, then the Books ſhall be open'd again on Monday the 6th of February following, for compleating the ſaid Subſcriptions.

VI. n="1"That Diſpatch being of the higheſt conſequence at this Juncture, to the ſervice of this great Undertaking, in reference to the Applications already made, A fourth part of all Money ſubſcribed to be paid down, with 5 s. per ſhare diſcount to ſuch as pay the whole within 4 days after ſubſcribing. and further to be made to the Governments both at home and abroad, and particularly to the Parliament here; all Subſcribers are to pay down to the Patentees, or their Caſhier, one Fourth part at the time of Subſcribing, and the remaining three Fourths at three ſeveral equal Payments, at every Fourteen Days after Subſcription, allowing Five ſhillings per ſhare diſcount to ſuch as ſhall pay down the whole at the time of ſubſcribing, or within Four Days after.

And, That for all and every the ſeveral Payments made of all Money ſo ſubſcribed, Receipts ſigned by the Patentees, or their Caſhier, ſhall be given: And when the whole Payments are made, Receipts to be given by the Patentees, &c. for Money receiv'd, and an Inſtrument upon payment of the whole. the ſaid Receipts ſhall be delivered back, and an Inſtrument under the Hands of the ſaid Patentees ſhall be duly executed according to Law, and uſual Cuſtom in like Caſes, entituling ſuch perſons to as many Shares as they have ſubſcribed and paid in their Money for.

VII. That Twenty pound per Cent. of all Money ſo ſubſcribed, and paid in, for the ſaid Four thouſand Shares only, be reſerv'd, 20 per Cent. to be reſerv'd a Stock to be manag'd by the Committee, which upon compleating the Subſcription, will be 8000 l. and accounted a Stock to negotiate and carry on all the neceſſary Affairs relating to this Invention; which ſaid Stock to be under the care of the Committee hereafter to be choſen, who are to appropriate and diſpoſe of the ſame when and after ſuch manner as they ſhall think moſt reaſonable and convenient, for promoting the general Profit and Succeſs of this Undertaking.

VIII. That within One Month after the Books are finally clos'd, A Committee to be choſen by a general Meeting, within a month after the final cloſing the Books, of whom Seven to be a Quorum. of which publick Notice ſhall be given by the Patentees; a Committee not exceeding Twelve in number, the two Patentees included, ſhall be nominated and elected by the Majority of the Proprietors and Subſcribers to that end aſſembled, at a General Meeting: And, That a Quorum of the ſaid Committee ſhall conſiſt of any Seven or more of them, which ſaid Committee ſhall have power to manage and tranſact the whole Concern.

IX. That none be qualified to be of the Committee, Committeemen to hold Ten Shares; or forfeit their Office. unleſs he hold at leaſt Ten Shares, in his own Name and Right: And if any Member of the ſaid Committee ſhall at any time part with ſo many Shares, as not to retain ſuch his Quota, he ſhall ipſo facto forfeit his Office.

X. The two Patentees to be Committee-men whilſt each holds 50 ſhares. All Proprietors &c. to have one Vote, none to have more than one Vote. That the two Patentees retaining Fifty Shares each in his own Name and Right, part of their Quota's of the Twelve hundred Shares, as in the 3d Article, ſhall always be of the ſaid Committee.

XI. That every Proprietor and Subſcriber ſhall have One Vote, and none to have more than one Vote, in the Election of the ſaid Committee, which ſhall be Choſen on the Second Thurſday in January Yearly, after the Firſt Election.

XII. That the ſaid Committee ſhall meet as often, An Allowance to be made to the Committee by a general Meeting. and at ſuch Time and Place as they ſhall appoint when elected; And that ſuch Allowance out of the Joynt Stock, as ſhall be made and agreed on by the General Meeting, be equally divided, and paid to ſuch of the ſaid Committee as ſhall attend accordingly.

XIII. The Books made up once a Year, or oftner, for Dividends. That the Books ſhall be made up at leaſt once in every Year, or oftner, if occaſion require; And, that Dividends be made within one Month following, proportionable to each perſon's number of Shares; And, No Transferrs to be made, but in the Transfer Book. that no Tranſferrs of any Parts or Shares be made, ſaving in the Book for that purpoſe to be provided, and kept by the ſaid Committee or their Secretary, &c.

XIV. That at the Requeſt of any Twelve, or more, Twelve or more may ſummon a general Meeting. of the Parties concern'd, whether of the Proprietors, Subſcribers, or both, a General Meeting of all the ſaid Parties concern'd ſhall be call'd and appointed by the ſaid Committee, within Ten Days next after ſuch Demand made, The Demand to be left in Writing. and left by them in Writing under their Hands with the ſaid Committee, or their Secretary, for the final determination of all Matters which ſhall be laid before them.

XV. That all General Meetings may adjourn to ſuch time or times, place or places, The general Meeting may adjourn. within the Cities of London or Weſtminſter, as they, or the majority of them, ſhall ſee meet: And, that all future Vacancies in the Committee be fill'd up by a New Election, at a General Meeting of the Proprietors and Subſcribers, with Perſons qualified to be elected, in manner as aforeſaid.

XVI. That the Proprietors and Subſcribers, Who may Elect. at a General Meeting, may Annually, or oftner, as occaſion requires, Three Auditors to examine the Accompts, for a general ſatisfaction, &c. and make them ſuch an Allowance out of the joynt Stock as they think fit, &c. Chuſe and Appoint Three from among themſelves to be Auditors, at all ſeaſonable Hours to inſpect, examine, and make report of all the Accompts, Books, and Tranſactions of the ſaid Committee, as often as they ſhall ſee cauſe, for the full Satisfaction of All that are or ſhall be concern'd; and that the ſaid Auditors, while ſuch, ſhall receive ſuch Reaſonable Allowance out of the Joynt Stock aforeſaid, as ſhall be appointed by the majority of the Proprietors and Subſcribers at a General Meeting.

XVII. The Orders of the Committee binding on all. That all Orders of the ſaid Committee ſhall be binding upon all the Parties concern'd, ſubject nevertheleſs at all Times, and in all Caſes, Matters, and Things, to the Senſe, Judgment, But ſubject to the General 〈◊〉 in all 〈◊〉 . Final End, Determination, and Deciſion of a General 〈◊〉 of the Proprietors and Subſcribers, or the majority of them.

XVIII. That all Votes be made per Balott.

☞ Note, That ſo ſoon as the Subſcriptions are compleated, and the Affairs thereof ſettled at Home, &c. that then ſome fit and proper Perſons of the Committee ſhall be appointed, and left in Truſt with the SECRET, by the ſaid George Oldner, he intending to go as ſoon as requir'd by the ſaid Committee, to the 〈…〉 , and States of Holland, &c. in order to 〈…〉 and Compleating his Treaties there; it 〈…〉 neceſſary to the Advantage of this great 〈…〉 , that the ſame ſhould be done with all the wiſe and prudent Diſpatch poſſible.

FINIS.