Greenland Trade Act 1692

XVIII. The Sales of Goods to be public once a Year at least, and by Inch of Candle.

No Lot more than £300.; The Monies arising from Sales to be faithfully applied.

And be it further enacted by the authority aforesaid That dureing the Continuance of this said joynt Stock no private Contract for the Sale of any Goods or Merchandizes shall be made by the said Company to any Member or Members of the said Company or any other Person or Persons whatsoever But that all Goods and Merchandizes belonging to the said Company shall be sold openly and publickely by Inch of Candle att their publick Sales which shall be once in every yeare att the least Of which Sales publick Notice shall be given upon the Royal Exchange in London att least Three Weeks before And that no Lott of any Goods or Merchandizes belonging to the said Company shall be put up or exposed to Sale the value of which shall exceed Three hundred Pounds in the Allotment thereof And that all Moneys ariseing by the sale of any Goods or Merchandizes of the said Company shall be faithfully and bona fide accompted for and applied to the publick and co[m]mon benefitt and advantage of the general joynt Stock of the said Company and of all and every the Persons therein interested rateably and according to every Persons Proportion and Share thereof and not to the private advantage of any particular Person or Persons whatsoever.