This would involve an outlay of money, but would also be
productive of a considerable subsequent annual saving.
"The eighty-five shares belonging to the wintering partners are, at
this date, held as follows:--
15 chief factors 30 shares
37 " traders 37 "
10 retired chief factors 13 "
10 " " traders 5 "
---
85 "
===
"As regards the shares held on retirement, some of the interests have
nearly run out, and none of the parties have any voice in the business.
"The value of a 1-85th share has been, on the average of the last
thirteen outfits, which have been wound up (1846-1858), about
408_l_. At that rate a chief factor's retired interest would
amount to 3,264_l_., and a chief trader's to 1,632_l_., less
discount, supposing payment to be made at once, instead of its being
spread over nine or ten years. On the other hand, the invariable custom
of the service has been to allow every officer one or more year's
furlough on retiring, which has come to be considered almost a right;
when more than one year has been granted, it has been by special
favour.
Pages:
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189