In order to prevent the blocks from overlapping, it was provided that the company which was last to settle should locate at least 100 miles from the other company's settlement.[1] [Footnote 1: Over the affairs of each company presided a council appointed by the King, with power to choose its own president, fill vacancies among its own members, and elect a council of thirteen to reside on the company's lands in America.

Each company might coin money, raise a revenue by taxing foreign vessels trading at its ports, punish crime, and make laws which, if bad, could be set aside by the King.

All property was to be owned in common, and all the products of the soil deposited in a public magazine from which the needs of the settlers were to be supplied.

The surplus was to be sold for the good of the company.
The charter is given in full in Poore's _Charters and Constitutions_, pp.

1888-1893.] %20.