5 June1762. "This indenture made... between John Fothergill of London, doctor; Daniel Zachary of London, gentleman; Thomas Hon of London, goldsmith; Devereaux Bowley, London watchmaker; Luke Hinde, stationer; Richard Hon, Jacob Hagen, Silvanus Grove and William Heron of London - merchants and trustees to the proprietors of a partnership known as Pennsylvania Land Company in London by Jacob Cooper, Samuel Shoemaker and Joshua Howell their attorneys specially constituted of the one part and Thomas Smith of Buckingham township in the county of Bucks in Pennsylvania yeoman of the other part..."
"Received of Thomas Smith for the sum of 1033 pounds 2 shillings, 10 pence..." "Recorded in the roll 10 May 1773 H Hicks, Recorder."
Location described as "Beginning at post North 86 degrees 20 minutes East 106 perches, 4 tenths part of a perch to another. South 1 degree 20 minutes, East 302 perches, 8 tenth parts of a perch to heap of stones in line of and grant intended to be granted to John Stockdale. Then North 47 degrees 38 minutes West, 165 perches and 1/2 to a post then North 42 degrees 22 mnutes, East 20 perches..."
"Little is known about the Pennsylvania Land Company, established in 1699 by four English entrepreneurs--Tobias Collet, Michael Russel, Daniel Quare, and Henry Gouldney. The partners paid William Penn 2000 pounds for leases of land recently surveyed Philadelphia. As settlement and immigration burgeoned, shares in the company grew from 220 in 1699 to 8800 in 1720 and it became increasingly difficult to keep track of shareholders. Finally, the company was forced to liquidate all its property. Benjamin Franklin seems to have been behind this enactment; John Fothergill, Franklin's close friend, was chairman of the disposition committee and the auctions and proceedings were required to advertise in Franklin's Pennsylvania Gazette. Any proceeds remaining after settlement were to be donated to the Pennsylvania Hospital." (christies dot com)
25 1/4 x 27 1/4", thick parchment, red wax seals of the 12 mentioned. Fothergill and associates' signatures are 'signed by their attorneys'. Very good condition. Item #27807