done by virtue of the articles on which he gave admission to the
sharers.

'For the better explanation of this scheme it will be necessary to
observe, that while the shares were selling, he grew apprehensive that
the season would be past, before the fifty pounds per share they were to
furnish by the articles could be contributed: He therefore gave up
voluntarily, and for the general good, 20,000 l. of his own 25,000
guineas purchase money, as a loan to the company till the expiration of
the patent, after which it was again to be made good to him, or his
assigns; and this money so lent by the patentee, is all the stock that
ever has been hitherto employed by the company.

'But instead of making good the above-mentioned conditional covenant,
the board proceeded to unnecessary warmth, and found themselves involved
still more and more in animosities, and those irregularities which
naturally follow groundless controversy. He would therefore take upon
himself the hazard and the power of the whole affair, accountable
however to the board, as to the money part; and yet would bind himself
to pay for three years to come, a profit of forty shillings per annum
upon every share, and then deliver back the business to the general
care, above the reach of future disappointments.

'What reasons the gentlemen might have to refuse so inviting an offer is
best known to themselves; but they absolutely rejected that part of it,
which was to fix the sole power of management in the patentee. Upon
which, and many other provocations afterward, becoming more and more
dissatisfied, he thought fit to demand repayment of five hundred pounds,
which he had lent the company; as he had several other sums before; and
not receiving it, but, on the contrary, being denied so much as an