which continued for some
time to be called the Council for Virginia, had its jurisdiction limited
to the exploits of the London Company; its membership came entirely from
the company; and its members were in effect selected by the leading
promoters of the company. One major governmental change occurred in the
colony by the president and Council being eliminated in favor of a
strong Governor to be advised by a Council. The former provision for
title to an area of land 100 miles square was changed to give title to
"all that space and circuit of land" lying 200 miles north and 200 miles
south of Point Comfort from the sea coast "up into the land, throughout
from sea to sea, west, and northwest" plus islands within 100 miles of
the coast.

Provisions relative to distribution of land were more specific in the
1609 charter and provided that land should be conveyed by majority vote
of the company under its common seal. Consideration in distribution of
land was to be given both to the amount invested by adventurer as well
as "special service, hazard, exploit, or merit of any person."

In the third charter of 1612 no major changes were included relative to
land. Boundaries of the colony were extended from 100 miles to 300
leagues to include the newly discovered Bermuda Islands. And greater
governmental authority was placed in the generality of the company by
providing for quarterly court meetings of the company to handle "matters
and affairs of greater weight and importance" than were resolved by
lesser courts of a smaller portion of the company.

No immediate grants of land to individuals were forthcoming with these
charters. Only promises were made to those who subscribed to the
joint-stock undertaking. The adventurer invested only his money and
remained in England with each unit of investment set at L12 10s. per
share. The term planter was applied to one who went to the colony, and
his personal adventure was equated to one unit of investment at the
same rate as above. Both adventurer and planter were promised a
proportionate share of any dividends distributed, whether in land or in
money. The joint-stock arrangement was originally set to continue seven
years from its inception in 1609, thus making 1616 as the terminal
date. During this period monetary dividends might be declared, and at
the end of the period the land suitable for cultivation was to be
divided with at least 100 acres to be given for each share of stock.
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