EAST INDIA DOCK.
This company was established by an act of 43 Geo. III. passed the 27th of Ju ly, 1803 and was authorised to raise a ca pital 200,0001. divided into shares of 1001. each, with liberty to increase their capital to 300,0001. if' found necessary. In 1806 they were empowered to add 100,0001. to their capital, making with the former sum 400,0001. nearly the whole of which has been raised. They were to pay 5 per cent. interest on the money ad vanced ; and after the docks should be completed, to make dividends not ex ceeding 10 per cent. per annum.
The company is under the manage ment of thirteen directors, who must be holders of at least twenty shares of the company's stock, and four of them must be directors of the East India company. They are elected annually in July, and three go out every year.
Two general meetings are held year ly, in January and July, at which pro prietors of five shares and upwards are entitled to vote. They must also be di rectors of the East India Company, or have been so within two years, or be an agent, husband, consignee, or owner, to the value of 500/. or upwards, of East In •
dia shipping.
The present dividend is at the rate of 5 per cent. per annum, and is payable at Lady-day and Michaelmas, every day, ex cept Fridays, between the hours of 11 and 2 o'clock.
The dock was opened in August, 1806.
Doric yards, in ship building, are zines of all sorts of naval stores.. The principal ones in England are those of Chatham, Portsmouth, Plymouth, Wool with, Deptford, and Sheerness. In time of peace ships of war are laid up in theie docks ; those of the first rates mostly at Chatham, where, and at other yards, they receive from time to time such repairs as are necessary. These yards are gene rally supplied from the northern crowns with hemp, pitch, tar, rosin, &c. ; butt as, far masts, particularly those of the larger size, they are brought from New England.