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Colonial and State Records of North Carolina
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Minutes of a meeting of the Lords Proprietors of Carolina
Carolina. Lords Proprietors.
April 06, 1710
Volume 01, Page 723

-------------------- page 723 --------------------
[B. P. R. O. N. C. B. T. 7. P. 33.]

Craven House Aprill the 6th 1710
His Grace the Duke of Beaufort.
Maurice Ashley Esqr
Sir John Colleton Barrt
John Danson Esqr

Agreed that the Baron de Graffenried and Mr Lewis Michel shall have a lease of all royal mines and minerals in the Province of Carolina that they shall discover and work for the term of 30 years, they being at the entire charge The produce of it to be divided into eight parts whereof four eights are to be paid to the Lords Proprietors the other four eights to the said Baron de Graffenried and Mr Lewis Michel for the term of 5 years after any such Mines shall be found and opened. But after the aforesd term of five years then the Lords to have five eights, the said Baron de Graffenried and Mr Lewis Michel three eights the Lords being to pay the Crown the fourth part according to the Words of the Charter.

Ordered that the Secretary do give a copy of these Minutes to the Baron de Graffenried which was done accordingly.