Sathrati Consolidated Company
The Sathrati Consolidated Company was a Shiro-Benacian chartered company formed in 1722 AN. Daniyal ibn Daniyal approved its initial Charter at Chryse on 22.XII.1722 AN under the auspices of the Society for Benevolent Investment. The Charter, establishing the Company of Allied Merchants of Benacia Trading in the Isles of Sathrati, was subsequently read into the record of the Council of Sathrati by the Count Palatine of Mirioth and Amity at Novi Nigrad on the following day.
In 1730 AN Javad al-Osman was appointed to the Board of Government on a temporary basis so as to better coordinate the activities of the company with its main counterpart, the Sathrati branch of the Honourable Company.
Assets frozen following the Shirerithian invasion of 1732 AN.
Organisation
Control of the company was vested in the Council of Sathrati, appointments to which were made by the Count Palatine of Mirioth and Amity in his capacity as Principal Secretary of State. To each of the seven members of the Council was bestowed a ceremonial key and seal cylinder betokening their entitlement to each draw off a seventh of the revenues after liabilities, a seventh of the assets, and a seventh of the voting rights on the Board of Control which they now thereby duly constituted.
The General Court of the Company, also known as the Cohort, was limited to three hundred and sixty members, being gentlemen of good standing who undertook, by virtue of paying an agreed bond to the Society for Benevolent Investment, pledged themselves and their children to the service of the Company for a period of twenty-five years during which time they would be entitled to the payment of an annual salary, paid in Benacian sovereigns according to an agreed table of grades and ranks within the Company augmented by interest payments made by the Company based on the value of the member's initial bond purchase. Each member was obliged to swear to the Covenant and additionally undertake to neither send any merchandise into Sathrati on their own account nor to consign them for export to any but the Company's agents. These members of the General Court, as in effect shareholders, were entitled to make their representations to the Board of Control at annual general meetings, to petition for redress, and to negotiate the conditions of their service.
The General Court, at Novi Nigrad, was further empowered, subject to the oversight of the Board of Control, to appoint a Board of Government, composed of a governor, sub-governor, and twelve directors, all of whom were to be resident in the city during their year long term. The General Court would also appoint a resident consul to every location where a "factory" (meaning both a manufacturing site and a warehousing complex for finished goods and gathered in materials) had been established. The Company empowered itself to set and control the tariffs on the prices for the sale of goods and materials gathered by their efforts, necessitating negotiation with the brokerage agents of the trade fleets, typically representatives of the Honourable Company, for the export of said articles to the Neridian Commodities Exchange for onwards resale and redistribution.
Subsidiaries
Taken under the protection of the Sathrati Consolidated Company with the first reading of its charter were the following:
