Prices Patent Candle Companys Act 1848
| Jurisdiction | England & Wales |
| Citation | 1848 c. xx |
ANNO UNDECIMO
VICTORIA REGIME,
*$**$$&*$$$$$*&$$&^^ *
Cap,
xx.
T
An Act for the Incorporation, Establishment, and
Regulation of "Price's Patent Candle Company/'
and for enabling the said Company to purchase
and work Letters Patent. [9th June 1848.]
HE RE AS for some Time previously to the Date of the
Deed of Settlement herein-after referred to William Wil-
son,
John Studholme Brownrigg, Sir George Gerard de
Hochepied LarpentBaronet, John Cocker ell, and Bride Pearse were
established in; Business as Partners, under the Style or Firm of
Edward Price and Company, at Belmont, Vauxhall, in the County
of Surrey, and under that Style or Firm carried on the Trade or
Business of Patent Candle Manufacturers, and other trading or mer-
cantile Operations: And whereas under and by virtue of a certain Deedof
Indentute or Deed of Settlement, bearing Date the Twenty-eighth Settlement,
Day of May One thousand eight hundred and forty-seven, a Joint ^d 28th
Stock Company has been formed and established, under the Name ay 7'
of "Price's Patent Candle Company," for the Purpose of under-
taking the Trade or Business which heretofore was or has been
carried on by or under the Name of the said Firm of Edward Price
and Company, including- the Manufacture and Sale of Candles, and
the Production and Importation of the raw Produce used in such
[Local.] 3F Manufacture*
w
ll0VICTORLE, Cap.xx.
+
Manufacture, the refining and Manufacture and Sale of Oils, and
the various Branches of manufacturing and commercial Operations
incidental to or connected with the same Business; and by the said
Deed of Settlement, after reciting therein the Desire and Intention
on the Part of the several Persons, Parties thereto of the first Part*
to undertake by means of a Joint Stock Company the said Trade
or Business, and reciting that certain Arrangements were made and
were in progress between the Promoters of the Company and the
said Firm for the Purpose of effectuating the Purchase of the said
Business and the Goodwill
thereof,
with the' Factories, Mills, Plan-
tations, Establishments, Plant, Machinery, Stock, and other Property
of the said Firm, for the Purposes of the Company, it was by the
said Deed of Settlement in effect provided and settled that the
Capital of the Company should be Five hundred thousand Pounds,
subject to Increase as in the said Deed of Settlement is mentioned,
divided into Twenty-five thousand Shares of Twenty Pounds each;
that, until otherwise appointed, the Ordinary General Meetings of
the Company should be held on the Fourth Wednesday in the Month:
of March in every Year; and that Five or more Shareholders, being
Proprietors of not less in the aggregate than Fifty Shares, might,
under the Limitations in the said Deed of Settlement prescribed,
convene an Extraordinary General Meeting; and that no General
Meeting should be competent to enter upon any Business whatever*.
except that of appointing a Chairman or adjourning a Meeting, unless
Ten Shareholders should be present thereat; and that in voting upon
Questions agitated at a General Meeting every Shareholder should
be entitled to a Number of Votes corresponding to the Number of his
Shares after the Rate of One Vote for each Share; and that the Busi-
ness of the Company should be conducted by a Board of Directors^
constituted from the Shareholders, of which Three Directors might
form a Quorum, and that no Shareholder should be eligible to the Office
of a Director unless he should be a Proprietor of not less than Five
hundred Shares; and that the Board of Directors should consist of such
Number of Persons as should from Time to Time be determined* and
in the meantime of Ten Persons; and that the Board of Directors
should especially have' full Power to adopt and carry into effect the
Arrangements then contemplated or in progress between the said Firm
of Edward Price and Company and the Promoters of the Company,
and should have full Power, subject as in the Deed of Settlement
is mentioned, to purchase on behalf of the Company the Mills, Fac-
tories,
Plantations, Establishments, Houses, or Lands of the said Firm
of'Edward Price and Company, or of any other Person or Persons*
which might be necessary or advantageous for the Purposes, Con*
cernSj Business, or Operations of the said Company; and that the
Board of Directors should also have full Power to purchase or take
for the Use and Purposes of the said Company Licences to use any
exclusive Rights and Privileges then belonging or appertaining to
the said Firm, and secured by any Letters Patent, or any other Rights
and Privileges secured or to be secured by any Letters Patent already
or thereafter to be granted, and also to purchase such Letters Patent
respectively* and the entire Benefit
thereof,
but not so as to defeat
the said Letters Patent, or to render the same void within the Con;
dition.for the Avoidance thereof upon Assignment to more than
Twelve
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