A Short View of the Laws Now Subsisting with Respect to the Powers of the East India Company / To Borrow Money under their Seal, and to Incur Debts in the Course of their Trade, by the Purchase of Goods on Credit, and by Freighting Ships or other Mercantile Transactions

by William Pulteney; John Stewart

State of the East India Company's affairs with respect to the cash which will come into their treasury, and what must be issued from thence at different periods.

	Cash.	Dr.
		l.	s.	d.
1767. May 11.	To ballance of the account of the debts and credits of the East India Company in England, made out by the Court of Directors, estimated to the 11th of May 1767, after deducting the amount of the bonds from the debt side, and what the government owes to the Company from the credit side,	66,408
Sep.	To part of the produce of the cargo by the Asia, that will be exposed to sale,	30,000
1768. Jan.	To part of the produce of eleven ships, viz. from Bengal and Madras, three from Bombay, and one from Mocha, the prompt payment,	665,386	13	4
		761,794	13	4
	To this sale might be added the prompt of the sale of 1000 peculs of silk, by the fourteen ships from China,	150,000
	China ware, drugs, &c.	20,000
		170,000
	To balance to February 5, 1768, brought forward,	544,485	13	4
July 31.	To part of the produce of the eleven ships to be exposed at the March sale, the prompt,	332,693	6	8
	To the private trade,	22,000
	To transacting the annuitants,	1,687	1
		900,866	6	8
1767.	per Contra,	Cr.
Oct. 31.	By ¼ interest on the bonds and annuities, deducting what received from government, due at Michaelmas,	12,679
Dec. 25.	By ½ a year's salaries, and other contingencies,	5,000
1768.
Feb. 5.	By ½ a year's dividend on the stock, at 12½ per cent. per annum,	199,630
		217,309
	Balance of cash in favour of the Company in February 1768,	544,485	13	4
		£761,794	13	4
	By the above balance,	544,485	13	4
	By silk and drugs, &c. on the Dr. side,	170,000
		714,485	13	4
1768.
March 25.	Due to government, by agreement, the first payment	200,000
May 1.	By ½ a year's interest on the Bond and annuities, deducting what received from the government, due at Lady Day	25,358
June 29.	By ½ year's salaries, and other contingencies,	5,000
Aug. 5.	By ½ a year's dividends,	199,630
		429,988
	By balance of cash in favour of the Company in August 1768	470,878
		900,866

When this account was produced to the general court by the accurate and intelligent Director who made it out, he declared that he had dissented in the court of Directors from the opinion of the other Directors as to the 12½ per cent. dividend, in which he had been joined by several other Directors, though a majority opposed this dividend, and he explained the above account in a very clear and satisfactory manner, and shewed, that in the preparing the account, he had made the most ample allowances of every kind, and declared himself ready to answer every objection which the other Directors could offer against it.—The other Directors fairly acknowledged that none of them had carried their calculations so far down as February 1768, when the dividend was to become payable.

---

Transcriber's Notes

The transcriber made these changes to the text to correct obvious errors:

1. p. 11 councel --> council
2. p. 12 commodies --> commodities
3. p. 20 50l. --> 50l.4. p. 20 subsistance --> subsistence

---