14 THE "SEPAKATE VOYAGES" OF THE COMPANY he had gone to arrange for a permanent factory at Surat. Complications were thus arising on land and sea with which the English system of " Separate Voyages " was manifestly unable to cope. Not only therefore were the voyages of 1611 and 1612 on a large scale, but a new ele- ment of combina- tion also entered into their equip- ment. The sepa- rate subscribers of the previous six voyages of the Com- pany became the u joint adventur- ers " of the seventh in 1611. The fol- lowing year they A BANYAN, OK NATIVE MERCHANT OF SURAT. United SO ClOSelV that the eighth voyage in 1612 was sometimes reckoned the First Joint Stock. I now summarize in tabular form the operations of the Company during its first twelve years of Separate Voyages. The following figures are extracted from a statement prepared about 1620 and reproduced in the India Office folio of " Marine Becords." They agree with the list of voyages given by the Company's his- toriographer, from whose " Annals " I compile the col-
