DOI Seite / Zitierlink:
https://doi.org/10.11588/diglit.57079#0138
122 THE EARLY HISTORY OF
currants. And so the company resolved that
English ships for the future should not come
into the ports of Zant, Cephalonia., the Morea33
or any other place where currants were to be
had or laden until December i, and no ship
should begin to take in currants until Dec-
ember 15. This applied to new currants; old
currants should not be taken in after July 1.
33 At the very next meeting of the court (January
19, 1631) it was decided that “ the best and only way
to raise benefit to the company by the trade of the
Morea was to let the same to farm.” Accordingly that
trade was to be farmed out to a member of the company
for five years at ^500 per annum at least. A similar
resolution had been come to on July 27, 1614 (see
Minutes under that date). The farm, decided on on
January 19, 1631, was put up to auction six days later
{Min. January 25, 1631). An auction was arranged
in this wise. A candle was lit and a demand made.
Then bids were offered so long as the candle burned,
and the man who made the last bid before the candle
extinguished itself was adjudged to have the bargain.
In this case the company started, in accordance with
the terms of the resolution, with a demand of £500 per
annum for five years, and at the end Mr. Langham got
the farm for- five years at £670 per annum.
A similar proceeding was adopted in 1635 {Min.
February 19, 1635) to sell certain jewels belonging to
the company. They were sold “by the candle.”
(Apparently standing capital in those days was invested
in jewels, just as to-day it is invested in stocks.)
currants. And so the company resolved that
English ships for the future should not come
into the ports of Zant, Cephalonia., the Morea33
or any other place where currants were to be
had or laden until December i, and no ship
should begin to take in currants until Dec-
ember 15. This applied to new currants; old
currants should not be taken in after July 1.
33 At the very next meeting of the court (January
19, 1631) it was decided that “ the best and only way
to raise benefit to the company by the trade of the
Morea was to let the same to farm.” Accordingly that
trade was to be farmed out to a member of the company
for five years at ^500 per annum at least. A similar
resolution had been come to on July 27, 1614 (see
Minutes under that date). The farm, decided on on
January 19, 1631, was put up to auction six days later
{Min. January 25, 1631). An auction was arranged
in this wise. A candle was lit and a demand made.
Then bids were offered so long as the candle burned,
and the man who made the last bid before the candle
extinguished itself was adjudged to have the bargain.
In this case the company started, in accordance with
the terms of the resolution, with a demand of £500 per
annum for five years, and at the end Mr. Langham got
the farm for- five years at £670 per annum.
A similar proceeding was adopted in 1635 {Min.
February 19, 1635) to sell certain jewels belonging to
the company. They were sold “by the candle.”
(Apparently standing capital in those days was invested
in jewels, just as to-day it is invested in stocks.)