On 22 September 1599, Roger Owfield CAO joins with a group of merchants in London and states their intention “to venture in the pretended voyage to the East Indies (the which it may please the Lord to prosper), and the sums that they will adventure”, committing £30,133 (over £4,000,000 in today’s money). Roger commits £300 to the adventure. Two days later, “the Adventurers” reconvened and resolved to apply to the Queen for support of the project. Although their first attempt had not been completely successful, they nonetheless sought the Queen’s unofficial approval to continue. They bought ships for their venture and increased their capital to £68,373.
Sept. 24. 256. Minutes of a meeting of the Adventurers in the intended voyage the East Indies. Resolution to apply to the Queen for her royal assent to an intended project, “for the honour of our native country and for the advancement of trade of merchandise within this realm of England to set forth a voyage this present year to the East Indies and other the islands and countries thereabouts,” to make trade by the sale of commodities to be hereafter provided, or otherwise by buying or bartering of such goods, wares, jewels, or merchandise as those islands or countries may yield. Rules for preparation of the voyage: no ship to be received as the stock of any adventurer; all shipping to be employed, to be bought for ready money only; no commodity to be accepted as any man’s portion of adventure, but all merchandise to be purchased by a committee of directors; fifteen persons named “Committees or Directors” to manage, order, and direct the affairs of this voyage, and concerning the suit to be made to the Queen for sole privilege to be granted to the adventurers for so many years as can be obtained, and for such immunities and freedom of customs as may be gotten. (“East Indies: September 1599”)