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OSTEND COMPANY

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Originally appearing in Volume V20, Page 357 of the 1911 Encyclopedia Britannica.
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See also:

OSTEND See also:COMPANY . The success of the Dutch, See also:English and See also:French See also:East See also:India Companies led the merchants and shipowners of Ostend to See also:desire to establish See also:direct commercial relations with the Indies. A private company was accordingly formed in 1717 and some See also:ships sent to the East. The See also:emperor See also:Charles VI. encouraged his subjects to raise subscriptions for the new enterprise, but did not See also:grant a See also:charter or letters patent. Some . success attended these See also:early efforts, but the See also:jealousy of the neighbouring nations was shown by the seizure of an Ostend, merchantman with its See also:rich See also:cargo by the Dutch in 17r9 off the See also:coast of See also:Africa, and of another by the English near See also:Madagascar. The Ostenders, however, despite these losses, persevered in their project. The opposition of the Dutch made Charles VI. hesitate for some See also:time to grant their See also:requests, but on the 19th of See also:December 1722 letters patent were granted by which the company of Ostend received for the See also:period of See also:thirty years the See also:privilege of trading in the East and See also:West Indies and along the coasts of Africa on this See also:side and on that of the Cape of See also:Good See also:Hope. Six See also:directors were nominated by the emperor, and subscriptions to the company flowed in so rapidly that the shares were at the end of See also:August 1723 at 12 to 15% See also:premium. Two factories were established, one at Coblom on the coast of Coromandel near See also:Madras, the other at Bankibazar on the See also:Ganges. At the outset the prospects of the company appeared to be most encouraging, but its promoters had not reckoned with the jealousy and hostility of the Dutch and English. The Dutch appealed to the treaty of See also:Westphalia (1648) by which the See also:king of See also:Spain had prohibited the inhabitants of the See also:southern See also:Netherlands from trading with the See also:Spanish colonies. The transference of the southern Netherlands to See also:Austria by the See also:peace of See also:Utrecht (1713) did not, said the Dutch, remove this See also:disability.

The Spanish See also:

government, however, after some hesitation concluded a treaty of See also:commerce with Austria and recognized the company of Ostend. The reply to this was a defensive See also:league concluded at Herrenhausen in 1725 by See also:England, the See also:United Provinces and See also:Prussia. ' Confronted with such formidable opposition the See also:court of See also:Vienna judged it best to yield. By the terms of a treaty signed at See also:Paris on the 31st of May 1727 the emperor suspended the charter of the company for sew % years, and the See also:powers in return guaranteed the Pragmatic See also:Sanction. The company, after nominally existing for a See also:short time in this See also:state of suspended animation, became See also:extinct. The See also:Austrian Netherlands were condemned to remain excluded from maritime commerce with the Indies until their See also:union with See also:Holland in 1815. (G.

End of Article: OSTEND COMPANY

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OSTEND (Flemish and French Ostende)
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OSTEOLOGY (Gr. ovTeov, bone)