There Is Just The Shadow Of A Doubt Thrown Upon The Accuracy Of Smith's
Statement As To The Non-Corporate
Status of the Adventurers, by the loose
and unwieldy features which must thereby attach to their business
transactions, to which
It seems probable that merchants like Weston,
Andrews, Beauchamp, Shirley, Pickering, Goffe, and others would object,
unless the law at that time expressly limited and defined the rights and
liabilities of members in such voluntary associations. Neither evidences
of (primary) incorporation, or of such legal limitation, have, however,
rewarded diligent search. There was evidently some more definite and
corporate form of ownership in the properties and values of the
Adventurers, arrived at later. A considerable reduction in the number of
proprietors was effected before 1624 - in most cases by the purchase of
the interests of certain ones by their associates - for we find their
holdings spoken of in that year as "sixteenths," and these shares to have
sometimes been attached for their owners' debts. A letter of Shirley,
Brewer et als., to Bradford, Allerton et als., dated London, April 7,
1624, says: "If it had not been apparently sold, Mr. Beauchamp, who is of
the company also, unto whom he [Weston] oweth a great deal more, had long
ago attached it (as he did other's 16ths)," etc. It is exceedingly
difficult to reconcile these unquestionable facts with the equal
certainty that, at the "Composition" of the Adventurers with the Planters
in 1626, there were forty-two who signed as of the Adventurers.
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