The History of "Punch"

by M. H. Spielmann

Fourteenth.

That a proper Book of account shall be kept by the said publisher whose duty it shall be without delay to enter therein all such just and proper entries as a publisher ought to enter and proper entries shall be made in the same Book of all receipts and payments and all accounts matters and things in respect of the said Work and be kept with all vouchers and writings which may relate to the same work in the publisher's Office for the time being of the said work and not elsewhere for the inspection and perusal of each of the parties hereto his executors and administrators and whereto each of them may at all times resort and take copies thereof or extracts therefrom at their free will and pleasure and that the same Book shall at each of the aforesaid Weekly meetings be laid by the said publisher before the persons parties hereto attending the hereinbefore mentioned weekly meetings respectively which person shall at each such Meeting then and there make up state and balance the said Book and sign the same when so made up stated and balanced and the same shall within one week afterwards be signed by such of the parties hereto as may not have attended the weekly meeting in which such Book shall have been lastly stated and balanced and after such signature each of them shall be bound and concluded therein unless some manifest error to the amount of Five pounds or upwards shall be found therein and signified by either of the parties to the other within six calendar months next after the taking of such accounts respectively in which case the error shall be rectified but no other par of the said account shall be impeached or disturbed.

Fifteenth.

That the getting up of the work shall be executed in all respects in the best possible manner by all the parties hereto and each party shall be just and true to each other in all matters and things relating to the said Work.

Sixteenth.

That the whole conduct of the said work as well with regard to the Editing printing designing engraving and publishing thereof as every other matter and thing connected therewith or incidental thereto and the expenses thereof respectively shall in case there be any difference about the same be decided by a majority of the votes of the several parties hereto the said Ebenezer Landells being entitled to one vote the said Joseph Last to one other vote and the parties hereto of the first part or any two of them to one other vote the vote of the last mentioned parties or any two of them being to be taken for the purpose of such voting but as one person only.

Seventeenth.

That any person may retire from this Agreement and from all concern in the said Work on leaving at the Publisher's Office for the time being of the said Work Twenty one days notice in writing of his intention so to do such Notice expiring on a Saturday.

Eighteenth.

That upon the retirement of any such person as aforesaid the assetts belonging to the said work (including debts) shall at the joint expence of the persons parties hereto be valued by three indifferent and competent persons in the publishing business who shall take upon themselves the office of such valuation one to be chosen by the said Editors another by the said Ebenezer Landells and the third by the said Joseph Last within one week after such retirement and in case any or either of the said parties shall for any cause whatever not nominate such valuor on his or their behalf within the said week then a valuer may be nominated by the valuer or valuers chosen by the party or parties who may be willing to proceed with the said valuation and such valuor so nominated as last aforesaid may with the valuer so previously nominated (in case only one of such parties shall have nominated a valuer) nominate a third valuer to carry into effect the aforesaid valuation And in case such third valuer shall not from any cause be nominated within one week after two valuers shall have been nominated then such third valuer may be nominated by the Clerk of nisi prius of the Court of Queens Bench for the time being on the application of any party hereto who shall first make application to him for that purpose And in case of the death of any of the said valuers another or other may be chosen in manner hereinbefore set forth And after such valuation shall be made known it shall be lawful for the persons parties hereto (other than the person so retiring as aforesaid) to purchase the whole (but not a part of) the share and interest of the Party so retiring in the net assetts belonging to the said work and the parties so purchasing as aforesaid shall enter into a Bond in a sufficient penalty with two good and sufficient sureties for securing to the party so retiring the payment of the amount of such his share and interest ascertained by such valuation as aforesaid at the respective periods of three six nine and twelve calandar months next after such retirement with interest at the rate of five pounds per cent. per annum from the time of such retirement payable quarterly in the meantime That in case of the death of either of the said persons parties hereto a valuation shall be made of the assetts belonging to the said Work (including debts) in the manner hereinbefore stipulated the executors or administrators of the deceased partner being substituted for such deceased party and the surviving parties shall have the option of purchasing the share of the party so dying of and in the said assetts upon the same terms as are hereinbefore mentioned in case such party had retired as hereinbefore provided That in case either person shall become Lunatic or Imbecile or from any cause prevented from attending to the business of the said Work as hereinbefore provided for the period of two entire calendar months he shall to all intents and purposes be considered to have retired from this Agreement and from all concern in the said Work as fully and effectually as if he had given notice under the clause hereinbefore contained in that behalf and a valuation shall be made of the assetts in respect of the said Work (including debts) in the manner hereinbefore stipulated the friends acting on behalf of the Lunatic or imbecile person being substituted for such Lunatic or imbecile person. That if in any of the cases aforesaid the parties in whom shall be the right of purchasing the share and interest of the party so retiring dying becoming Lunatic or imbecile or prevented from attending to the business of the said Work as aforesaid shall decline to elect to exercise such right (and they shall be deemed to have so declined unless the contrary be made known by notice in writing under the hands of the parties entitled to such right and left at the said publishing Office for the time being within seven days after such right shall have accrued) then the assetts belonging to the said Work including debts shall be sold by public auction and the net produce of the said assetts after discharging all claims and demands in respect of the same work shall be equally divided between the said Henry Mayhew Mark Lemon Joseph Stirling Coyne Ebenezer Landells and Joseph Last or (as the case may be) the survivor of them and the executors or administrators of him or them who may be deceased.