'Arr, ' said Long John Silver, 'Arr, arr,' by way of clearing his throat, before addressing his 9 remaining companions.

'We've sailed the seas for 7 long years, and plundered a pirate hoard, and the time has come to divvy the loot at last. It goes without saying that each of you lubbers wants all the treasure he can lay his hands on.'

'Now, as ye know, the Rules of the Sea require that the Captain shall propose a division, and all then vote, democratical-like; if the proposal be passed, then all take accordingly. If the lots cast be tied, the Captain votes again, to break the tie. But if the division be rejected, the Captain forfeits his share, and the right to propose passes to the next in rank, and so on until a division be agreed at last.'

Now gather round me hearties, and listen to me proposal, according to rank:

Long John Silver, Cook and Captain: 75 shares
Abe the Master: 1 share.
Ben the Mate: 1 share
Caleb the Gunner: 1 share
Dave the Able: 1 share
Eben the Bosun: 1 share
Fergus the Feeble: 2 shares
Gabe the Gimpy: 4 shares
Ham the Hopeless: 6 shares
Jesse the Cabinperson: 8 shares

'I'm sure you'll agree, lads, I've done you all proud.'

Of course, it's endlessly debatable whether Long John's proposal is fair; but should his proposal be carried, or not?

The wording to the puzzle can definitely be improved.

As it is currently worded...
(1) ... there is no elimination of a voter from voting in any further proposals;
(2) ... only the Captain forfeits his share if a proposal is not agreed upon;
(3) ... only the Captain has a tie-breaking vote;
(4) ... not everyone is assigned a rank, some are only given  monikers, so it is unclear at what point will the position of proposer cease to be passed if prior proposals have failed.

Perhaps the moniker attributed to each person is meant to be the individual's rank. In some cases it seems so, yet it is uncear if that is the case.
Also perhaps, the word "Captain" should be replaced by "proposer" or some synonymous word or phrase to that word. And, perhaps, it should be stated that forfeiting one's share also forfeits the person from voting in further proposals.

But, then perhaps there is a different intent to the procedure.