Power was given by the Common Council to the Committee of the Corporation, afterwards the Irish Society, to divide the land among those Companies willing to accept them, and so “to build and plant the same at their own cost and charges, accordingly as by the Printed Book of Plantation is required.” Eight of the great Companies accepted at once, and the other four shortly afterwards. Meantime the Privy Council made certain conditions, among them the following:— “The Londoners are _first_ to provide habitations for such poor and necessary men as they draw thither for their business, and afterwards to let for such rents as shall be fitting _as well for the good of the Plantation_ as for some valuable rent (THE CHARGES CONSIDERED), _the Londoners always performing the Articles of Plantation_” (_London and Londonderry_, pp. 12, 13). It would appear from this that the subscribers were intended to get rent in return for their outlay, but they never did, because the Companies added the rents of the land to their own corporate funds. As the subscribers do not appear to have objected, this was probably done openly and without any remonstrance or objection. Complaints began to be made that the conditions were not carried out; only twenty houses were built at Derry instead of the 200 promised; the Londoners were converting the timber to their own profit. In December 1612 the King wrote to Sir Arthur Chichester, the Lord Deputy:— “‘If there were no reason of State to press it forward, yet we would pursue and effect that work with the same earnestness, merely for the goodness and morality of it, esteeming the settling of religion, the introducing of civility, order, and government among a barbarous and unsubjected people to be the acts of piety and glory, and worthy also a Christian Prince to endeavour’” (_London and Londonderry_, p. 13). On March 29, 1613, the first charter was granted to the Irish Society as representing not the Companies, but the Corporation of the City of London for the Plantations. This charter constitutes and incorporates the Irish Society:— “‘For the better ordering, directing, and governing all and all manner of things for and concerning the City and Citizens of Londonderry aforesaid, and the aforesaid County of Londonderry, and the Plantation to be made within the same City and County of Londonderry, and other businesses belonging to the same,’ giving the Society power to purchase and hold in fee, _for these purposes_, lands, goods, etc., in England or in Ireland, to have a common seal, and to sue or be sued” (p. 14). A grant of timber is made only for the Plantation and “not for any other causes to be merchandized or sold.” In other words, the Irish Society was incorporated for the purpose of a Trust; the members were originally Trustees.