1911 Encyclopædia Britannica/Allotment
|←Allori, Alessandro||1911 Encyclopædia Britannica, Volume 1
|Allotments and Small Holdings→|
|See also Allotment on Wikipedia, and our 1911 Encyclopædia Britannica disclaimer.|
ALLOTMENT (from O. Fr. à and loter, to divide by lot), the act of allotting; a share or portion assigned. In England, the term denotes a portion of land assigned on partition or under an in closure award (see Commons); also a division of land into small portions for cultivation by a labourer or artisan at a small rent (see Allotments and Small Holdings). In company law, “ allotment ” is the appropriation to an applicant by a resolution of the directors of a certain number of shares in response to an application. The document sent to such an applicant, which announces the number of shares assigned and concludes the contract, is called a letter of allotment or allotment certificate. A letter of allotment in England requires a sixpenny stamp if the value of the shares amounts to £5 or over, and a penny stamp if less than £5. (See Company.)
Allotment note is a writing by a seaman authorizing his employers to make an allotment of part of his wages, while he is on a voyage, in favour either of a “ near ” relative (wife, father, mother, grandfather, grandmother, child, grandchild, brother or sister of the seaman), or of a savings bank. Every allotment note must be in a form sanctioned by the Board of Trade.