Of the 110 members of the Company in England, only about one fourth ever came to America. Cradock himself never came,—though he had lands and servants here. Most of the members, who stayed in England, lost all their investment eventually. Indeed, in the summer of 1629, the Company was already in serious financial straits. A special inventory, in the fall, rated the stock at only one third the face value. This condition may have inclined some stockholders to favor Cradock's proposition in July. The funds paid in for stock by Winthrop and other new members made it possible for old members to draw out (on this reduced scale). In this sense, the new members "bought" out some of the old ones.
4.—No place of meeting is suggested in the charter. This probably resulted from the fact that the Company was made up partly of Londoners, partly of Dorchester men (from the West of England; cf. American History and Government, § 57). All such previous colonizing corporations for America had been designated geographically (probably for convenient descriptions, rather than for limitation). But the "Council of Plymouth in the County of Devon" had never held a meeting at Plymouth: its records show that all its meetings were held at London. This fact may have helped to make the even more composite Massachusetts Company wary about having a place of meeting mentioned in their fundamental law. If John Winthrop is right in his statement of fifteen years later (above) that such a limitation was at first put into this document and that "with much difficulty we got it abscinded," then we may be sure that the Company desired that elision, not in order that they might hold meetings in America (as Winthrop afterward assumed), but to prevent their being hampered in England. This view is made practically certain when we observe the clause regarding place of meeting in the charter of the Providence Isle Company (below). That company certainly never expected to hold its meetings out of England, but it guards against being hampered, not by mere silence, but by express provision that it may meet where it likes.]
54. Docket of the Massachusetts Charter, 1629
When the king granted a charter, an exact copy, known as "the King's Bill," was presented to him, with a docket, or abstract, approved by his Attorney-General. This docket was what the king, or his council, read.
The following docket, now attached to the King's Bill of this charter in the London Record Office, is printed in the Massachusetts Historical Society Proceedings for 1869-1870, pages 172-173. The italics are used in this reproduction to call attention to important matters.
May it please your most Excellent Majestie.
Whereas your Majesties most deare and royall father did, by his letteres Patents in the 18th yeare of his raigne, incorporate divers noblemen and others by the name of the Councell for the planting of New England in America and did thereby grant unto them all that part of America which lyeth betweene 40 degrees of Northerly latitude and 48 inclusive,—with divers priviledges and immunities. ... Which said Councell have sithence by theire Charter in March last [1628] granted a part of that Continent to Sir Henrie Rosewell and others, their heires and associates, for ever, with all jurisdiccions, rightes, priviledges, and commodities of the same.
This Bill conteineth your Majesties confirmacion and Grant to the said Sir Henry Rosewell and his partners and their Associates and to their heires and assignes for ever of the said part of New England in America, with the like tenure in socage and reservacion of the fifth part of gould and silver oare,—Incorporating them also by the name of the Governor and Company of the Mattachusetts Bay in New England in America,—with such clauses for the electing of Governors and Officers here in England for the said Company, and powers to make lawes and Ordinances for setling the Governement and Magistracie of the plantacion there, and with such exempcions from Customes and Imposicions and some [such?] other privilledges as were originallie granted to the Councell aforesaid and are usuallie allowed to Corporacions in England.
And is done by direccion from the Lord Keeper upon your Majesties pleasure therein signified to his Lordship by Sir Ralph Freeman.