1st. That they will yearly lay before the Company at their Annual Meeting a full and just Account

of all the Companys Affairs under their Management for the Year past, fairly entred in the Companys Books.

2. That they will sell as soon as they can (for the Companys Bills only) All such Manufactures as shall be brought in by the Annual Payments of the Partners for Principal and Interest, and Let out (after the necessary Charges of the Company are Deducted, as soon as they can) on Lawful Interest with good Security the Produce of such Sale, and also such Bills as shall be brought in in such Payments, and always Husband and Improve the Companys Stock in their Hands, to the best advantage of the Company.

3. That they will pay to each Partner his Executors Administrators or Assigns on Demand his and their Rateable part of Every Dividend of the Companys Profits to be Agreed upon at any General Meeting of the Partners by the Major part of the Partners present concurring with the major part of the Directors, and after the Expiration of Twenty Years to Pay to each Partner, his Executors Administrators or Assigns according to his or their respective Interests All such Dividends as shall be agreed upon by the major part of the Partners, outstanding Bills and Contingent Charges always to be first satisfied.

4. That the said Directors Do Severally Covenant with Each Partner his Executors Administrators and Assigns, Viz^t. Each of them for himself his Heirs Executors and Administrators, That in Case he be displaced or taken away by Death, then he, his Heirs, Executors or Administrators, shall and will Instantly deliver up to the Remaining Directors

for the Use of the Company, All the Bills, Goods, and things whatsoever as are in his or their Hands belonging to the Company, and will never more Intermeddle with any thing or affairs pertaining to the Office and Duty of a Director.

1. That each Undertaker his Heirs Executors and Administrators will at the Expiration of every Year from this Date annually during the Space of Twenty Years Pay to the said Directors; Viz^t. Robert Auchmuty, Samuel Adams, William Stoddard, Peter Chardon, Samuel Watts, George Leonard, Robert Hale, John Choate and Thomas Cheever, their Executors and Administrators for the Use of the said Company, Five in the Hundred of the Principal sum by him received and Three per Cent. Interest for the Principal enjoyed in such Manufactory Bills, or in Merchantable Hemp, Flax, Cordage, Bar-Iron, Cast-Iron, Linnen, Copper, Tan’d Leather, Flax Seed, Bees-wax, Bay berry Wax, Sail Cloth, Canvas, Nails, Tallow, Lumber, Viz^t. Shingles, Staves, Hoops, White Pine Boards, White Oak Plank, White Oak Boards, and Ship Timber; Barrel Beef, Barrel Pork, Oil, Whale Bone, and Cordwood of the Produce and Manufactures of this Province, or Logwood, at such Prices as the Directors shall judge they pass for in Lawful Money at Six Shillings and eight pence per Ounce, with One per Cent. advance thereon at the respective times of Payment.

2. That he his Heirs Executors and Administrators, will from time to time at Thirty Days Notice Pay to the said Directors in the aforesaid Bills or Manufactures his Rateable part of all such Sums of

Money as shall be lost or become Chargeable on the said Company by the failure of any of the Partners or by any other Accident whatsoever to Indemnify the Signers of those Bills and Save the said Company harmless.

3. That he his Heirs, Executors and Administrators, at all times till the Principal Sum aforesaid by him received and Interest thereof as aforesaid is paid in, and while he or they have any share or Interest in the Manufactory Company aforesaid, will readily receive and take all such Manufactory Bills, as shall be tendered him or them by any Person or Persons in all Payments, Trade and Business, as so much Lawful Money at Six Shillings and eight pence per Ounce.

4. That he his Heirs, Executors and Administrators, will from time to time at Thirty Days Notice Pay and Satisfy to the said Directors their Executors and Administrators, his Rateable part of all such Sums of Money, Losses and Damages as they or the Company shall Sustain or Suffer by means of any Orders, Rules, Instructions, Laws; or other Acts of Government whatsoever, towards the Securing and Indemnifying of the said Directors and the said Company.

5. That he his Heirs, Executors and Administrators will at all times when thereto requested, give such further or better Security for the performance of his Yearly Payments in manner aforesaid, as they shall judge necessary.

6. That he his Heirs, Executors and Administrators, will (in case any of the said Directors shall be displaced or taken away by Death) perform all his aforesaid Covenants to the remaining Directors

and Successors Chosen in the room of such as are displaced or taken away as aforesaid, whenever they shall think proper: And at all times upon Thirty Days Notice will pay and perform his Rateable part required to Indemnify such displaced Director, and Generally the Heirs, Executors and Administrators of all such Directors as shall be Displaced as aforesaid, or taken away by Death, for everything done by them in the faithful Discharge of their Trust as Directors or as Signers of the Bills.

7. The afore enumerated Commodities shall be received by the Directors at the same Prices as they generally pass at, at the time of Payment in Boston and the Directors shall accordingly allow Six Shillings and Eight pence in the Company’s Bills, for so much of each kind of Commodities respectively, as will Sell for an Ounce of Silver as aforesaid and shall moreover give for said Commodities to the Undertakers paying in (as aforesaid) One Per Cent. more than the Market Price and shall at any time on the Demand of the Possessor of their Bills Sell them for said Bills at their Treasury in Boston One Per Cent. under the then Market Price in said Boston and shall always receive Six Shillings and Eight pence of said Bills as equal to One Ounce of Silver.

8. The Directors Shall appoint Persons to value the Lands to be mortgaged as Security for the Annual Payments who shall be under Oath for the faithful Discharge of their Trusts.

9. The Directors shall appoint Clerks and other attendants as they find it necessary, agree with them for their salaries and as there may be occasion, again Dismiss them and Choose others. Which

Clerks shall be under Oath and give Security for the faithful Discharge of their Trusts.

10. No Person shall be capable of being a Director or Treasurer who Undertakes for less than Five Hundred Pounds and if any Director or Treasurer Die or is removed from his Office, the Vacancy shall be filled at the next meeting of the Company by a major Vote of the Partners present (the Directors in Case of Death or removal of a Treasurer to choose a new one in the meantime) and if any Director or Treasurer be found guilty of any Fraud in the Execution of his Office, any four of the Directors concurring with the major part of the Partners, such Treasurer or Director shall be removed from his Trust, his Mortgage be put in suit and he be declared to be a Partner no longer.

11. All the Mortgages given by the Undertakers shall be duly executed and put on Record in the Registry of Deeds of the County where such Mortgaged Lands respectively lye.

12. If the Security which shall be given by any Partner shall at any time be judged insufficient by the Directors or the major part of them such Partner shall on demand give such other and better security as they shall think needful or otherwise his mortgage or Covenant or both of them shall be sued out.

13. To Oblige all the Partners to pay their part of Principal and Interest punctually. Whoever neglects Paying above a Month after it is due, his Mortgage covenant and Bond or any of them shall be put in suit.

14. The Directors shall from time to time put out on Lawful Interest to any man to whom they

think proper on good Security, all such sums as shall be in the Treasurers hands, for the Use and Benefit of the Company (Charges of Managing the Companys affairs first deducted) but not for a longer time at once than one year; the Borrower to pay Principal and Interest in the Companys Bills or in the aforesaid Manufactures.

15. There shall be a Meeting of the Partners on the first Tuesday in September annually; and at the end of Five Years at that meeting, there shall be a dividend made of so much of the Profits as shall be agreed on by a major part of the Directors, concurring with a major part of the Partners then present; and from that time there shall be a Dividend at every Annual Meeting; Provided always, That in all such Dividends, care be taken that there still remain in the Stock for the Security of the Possessor, double the Principal paid in from time to time as aforesaid.

16. That the Directors (as often as they shall think it necessary that there be a meeting of the Partners besides their Annual Meeting) may call one, by Informing of the time, place and Business of such Meeting in a notification to be inserted in each of the Publick News Papers, and to be Posted in each of the Shire Towns of the Several Countys, fourteen Days at least before the Day appointed for Such Meeting.

17. It shall be in the Power of any Partner to redeem the Estate he hath mortgaged at the end of Five Years, or afterwards, he having the consent of the major part of the Directors, with the Major part of the Partners, by paying in the money he received out thereon, with the Interest then due

either in the Companys Bills or in the Manufactures aforementioned.

18. As by the Mortgages and Covenants aforementioned the Partners give Security to the Signers of the Bills to enable them to Satisfy the Possessor So the Signers shall give security to Indemnify the Indorser.

19. All accounts relating to the Companys joint affairs shall be laid before them at their annual meeting in September by the Directors and Treasurer for their Information and approbation.

20. A Major part of the Directors concurring with a major part of the Partners present at any annual (or other General) meeting may agree upon any other Rules or Methods for the better observing or fulfilling the articles aforesaid Provided such Rules are not subversive of the Fundamental Articles of this Scheme but consistent with and conducive to the End and design of them.

21. No Alteration shall be made of a Fundamental Article but by the Consent of the Government, had to the Determination of the major part of the Partners concurring with the major part of the Directors.

22. Any One of the Clerks of the Directors shall at any time on Demand (for reasonable Pay as allowed in other offices) give to any Persons desiring the same, a Copy of any part of the Records, duly attested under his Hand.

23. An Attested Copy of this Scheme from the Record shall be Registered in the Secretaries Office in Boston (if permitted) and Publick notice given of it when done or otherwise in some other Publick

Office in this Province and Publick Notice given accordingly.