of the said ship, one hundred mariners, or seamen, or
thereabout, and to make what reasonable and convenient speed he can to
set out to sea with the said ship, and to sail to such parts and places
where he may meet with the said Pyrates, and to use his utmost endeavor
to meet with, subdue, and conquer the said Pyrates, and to take from
them their goods, merchandise, and treasures; also to take what prizes
he can from the King's enemies, and forthwith to make the best of his
way to Boston in New England, and that without touching at any other
port or harbor whatsoever, or without breaking bulk, or diminishing any
part of what he shall so take or obtain; (of which he shall make oath
in case the same is desired by the said Earl of Bellomont), and there
to deliver the same into the hands or possession of the said Earl.

"8. The said Captain Kidd doth agree that the contract and bargain
which he will make with the said ship's crew shall be no purchase,[3]
no pay, and not otherwise; and that the share and proportion which his
said crew shall, by such contract, have of such prizes, goods,
merchandise and treasure, as he shall take as prize, or from any
Pyrates, shall not at the most exceed a fourth part of the same, and
shall be less than a fourth part, in case the same may reasonably and
conveniently be agreed upon.

"9. Robert Livingston Esq. and Captain William Kidd agree that if they
catch no Pyrates, they will refund to the said Earl of Bellomont all
the money advanced by him on or before March 25th, 1697, and they will
keep the said ship."

Article 10 allotted the captured goods and treasures, after deducting
no more than one-fourth for the crew. The remainder was to be divided
into five equal parts, of which Bellomont was to receive four parts,
leaving a fifth to be shared between Kidd and Livingston. The stake of
Captain Kidd was therefore to be three one-fortieths of the whole, or
seven and one-half per cent. of the booty.

It is apparent from these singular articles of agreement that Robert
Livingston, in the role of Kidd's financial backer, was willing to run
boldly speculative chances of success, and was also confident that a
rich crop of "pyrates" could be caught for the seeking. If Kidd should
sail home empty-handed, then these two partners stood to lose a large
amount, by virtue of the contract which provided that Bellomont and his
partners must be reimbursed for their outlay, less the value of the
ship