Report on the Charities of the Merchant Taylors' Company

MERCHANT TAYLORS' COMPANY. Mr. Hare's Report.

TO THE CHARITY COMMISSIONERS FOR ENGLAND AND WALES.

In pursuance of a Minute of the Board of the 7th day of November 1862, I have inquired into the condition and circumstances of the following Charities under the management of the Merchant Taylors' Company of the City of London, and I have stated in the Report under the head of each specific Endowment the result of my investigation.

The Merchant Taylors Company under the style of "The Master and Wardens of the Merchant Taylors of the Fraternity of St. John the Baptist, in the City of London," consists of—

The Master and four Wardens and Court of Assistants.

The freedom of the Company is obtained by patrimony, redemption, and servitude. The number of freemen is not known, but they are supposed to diminish in number.

Alston's Charity.

Judith Alston in 1687 gave to the Company 300l. to pay,—

The bonds stated by the Commissioners of Inquiry to have been given for these sums are probably not in existence, and if they were, would not, I apprehend, be available by the successive incumbents. No special investment exists in respect of the donation, but it forms a charge on the corporate funds.

The three sums of 5l. per annum are paid to the three incumbents upon their several receipts.

Dr. John Andrew's Exhibition.

Dr. John Andrew, by his will of the 15th May, 1747, directed all his stock in the Bank of England to be sold out and invested in the purchase of a freehold estate, and that the rents (after the payment of certain life estates) should be paid to Trinity Hall, Cambridge.

And he directed that four new scholarships from the Merchant Taylors' School should be founded, each to receive 5l. quarterly, and that the remainder of the rents should be invested in Government securities until there should be raised 20,000l. to be laid out in additional buildings to the said college; and after such 20,000l. should be raised, he directed that four new civil law fellowships should be erected and added to their number.

And the testator gave to his brother William 1,050l. for the support of his son John for life, and after his decease to the said college.

And he gave to his brother's son William the dividends of 500l. Bank Stock for life, the said stock to be transferred to the said college.

The arrangements for carrying out this bequest between the representatives of the testator and the Merchant Taylors' Company were made under a decree of the Court of Chancery of the 21st June, 1802 which is set forth in the Report of the Commissioners of Inquiry (vol. 17, page 453). The sum agreed to be accepted by the Company in satisfaction of the bequest was accumulated to the sum of 10,140l. Consols at the time of the last enquiry, and at the end of 1861 the amount of the capital applicable to this charity was 13,446l. 16s. Consols, producing an annual dividend of 403l. 8s. 2d.

There are six exhibitioners of 60l. each at St. John's College, Oxford. They are chosen from the Merchant Taylors' School according to rule set forth in the indenture of the 6th February 1801, which provided that the money should be paid to the Company for establishing six scholarships or exhibitions so soon as the funds and accumulating interest would admit thereof at 50l. per annum each, to be elected from the said school, and taken out of the bench or table thereof from among such as had been four years at least scholars in the said school, or from such other persons as had been at the bench or table and in the school four years, but had left the said school, not under 16 nor above 20 years of age at the time of election, who were to continue 12 years and not longer, and to be accounted civil law scholars or civil law exhibitioners, with such other provision respecting their residence and accommodation and studies at college as therein mentioned.

The following were the proposals agreed to between the Company and the President and Scholars of St. John's College, Oxford, which received the sanction of the Court of Chancery.

That the sum of 2,610l. cash, with interest at 5 per cent., and 2,666l. 13s. 4d. Consols, to be allotted out of the funds in the name of the accountant-general in trust in the cause to remain in the name of the accountantgeneral, and the dividends to be paid to the Company for establishing six scholarships of the said College, as soon as the said funds and accumulating interest will admit, and that such number of the said six scholarships be in the meantime established at 50l. per annum each, as the Company should think proper.

Such scholars to be elected at the Feast of St. Barnabas by the said Company, with the assent of the President or Vice-President and two senior Fellows of the said College, in the chapel of the grammar school of the said Company, immediately after the election is had and made of the scholars directed by Sir Thomas White, Knight, deceased, formerly one of the assistants of the said fraternity, to be elected from the said Merchant Taylors' School and admitted into the said College, and such scholars to be taken out of the bench or table of the said school who have been scholars of the said school four years at least, or from such other persons who have been at the bench or table and in the school for four years, but have left the said school, not under 16 or above 20 years of age at the time of election, and to continue 12 years and not longer, and to be accounted civil law exhibitioners.

To remain unmarried and to reside at the College for the same time in every year as the commoners of the said College are required to reside, and to proceed regularly to their law degrees, and that after the first four years, during the remainder of the term for which they hold their scholarships, they shall reside at least 30 days in every year.

The scholars to be provided with residence within the College for the first four years, they paying for their rooms the same rent which the commoners do, and to observe all the rules of the College; and the scholarships to become vacant in case of any scholar entering into holy orders, marrying, or entering into any employment incompatible with the practice of the civil law, or by resignation of such scholar or expulsion by the College, or by quitting the said College, or on any other account; on a vacancy to a scholarship the College to certify the vacancy to the said Master and Wardens.

In case of a vacancy of a scholar not exceeding six months, the pension to go to the immediate succeeding scholar, and if longer than six months to constitute a part of the accumulated fund.

These rules have not undergone any change, but the stipends have been increased to 60l. each.

After paying the amount of these scholarships to the holders annually, or so far as they are full, the surplus income is added to the capital from which, according to the present disposition of the Company, it is intended to increase the annual stipends, as the fund may hereafter admit.

They are at present full, and on the occasion of a vacancy the election is made in June.

There is not an election annually.

It appears by the following table that during the 10 years there has been on an average less than two annually:—

Exhibitions founded by Dr. John Andrew.

By an Order of the Board, dated 10th December 1875, it was provided by way of scheme that the annual value of each of these exhibitions which should thenceforth be five in number, should be raised to the sum of 86l., and that the same should be tenable for not more than five years, and that the Company should have power from time to time, subject to the approval of the Board, to frame rules and regulations for the election and examination of candidates for such exhibitions or scholarships.

The following regulations were sanctioned by an Order of the Board, dated 19th May 1876, namely—

1. The election of candidates for the said exhibitions or scholarships, which are henceforth to be five in number, of the value of 86l. a year each, and tenable for a period of not more than five years, shall be made by the Master, Wardens, and Court of Assistants of the Merchant Taylors' Company, and the President or Vice-President, and two Fellows of St John's College, Oxford, or such of them as shall be present at and take part in the election on St. Barnabas' Day at Merchant Taylors' School, immediately after the election of Sir Thomas White's scholars.

2. At the date of election, candidates must be in the head form of the Merchant Taylors' School, and not under 16 or above 20 years of age, and must have been in the school at least four years.

3. Candidates shall be examined by examiners appointed for the purpose by the said Master and Wardens; and in order to be eligible for election must satisfy the examiners that they have attained such a knowledge of classics and mathematics as would enable them to pass the responsions examination in their first term at Oxford, and the election shall be made from the candidates who satisfy that test according to their proficiency in history and modern languages, except that, in any case in which there shall be no duly qualified candidate whose proficiency in history and modern languages is considered to entitle him to election, a candidate may be elected for proficiency in any branch of study.

4. The exhibitions are to be paid half-yearly at Christmas and Midsummer, and each exhibitioner will be required to become and remain a member of St. John's College, Oxford, and must, during the first four years after he shall have proceeded to the University, or until he shall have taken some degree in the University, produce before any half-yearly payment on account of the exhibition is made, a certificate from the President or Vice-President of that College of his residence, good conduct, and satisfactory progress, down to the end of the academical term next preceding the time fixed for such payment.

5. The exhibitions will be tenable for five years from the date of election, but any exhibition will be rendered vacant by the resignation or expulsion from the College of the exhibitioner, or by the exhibitioner's name being taken off the books of the College, or by his ceasing to reside during an entire academical year without good cause to be allowed by the President or Vice-President of the College, and any exhibition may be declared vacated by the Master and Wardens, if the exhibitioner shall fail to produce such certificate from the President or Vice-President of the College as is required by the last regulation, or in such case the Master and Wardens may hold the exhibitioner disentitled to any halfyearly payments of the exhibition without depriving him of the exhibition altogether.

6. Pending the establishment of a regular recurring vacancy in each year, the Master and Wardens reserve to themselves the power of suspending the election to any exhibition over and above one in each year.

7. The Master and Wardens reserve to themselves the power to add to the corpus of the exhibition fund any unapplied income that may arise, under the last preceding regulation or otherwise, from any exhibitions which during any period cease to be payable wholly or in part, and to increase the value of the exhibitions hereafter at their discretion out of the improved income.

Barker's Charity.

Reynold Barker, by deed of the 21st September 1608, granted to the Company certain lands at Bow, Essex, to bestow the rents amongst the poor almsmen and almswomen in the Company's almshouses.

The estate of this Charity consists of about one acre and two roods of landon the parish of Stratford-le-Bow, bounded by the high road from London to Stratford on the south, and property belonging to the Corporation of London to the N.N.W. and N.E., and intersected by the River Lea.

It is at present let in two portions:—

The sum of 250l. a year is carried to the Almshouse Account without any deduction.

Bigg's Charity.

Walter Bigg, by an indenture of the 6th June 1659, assigned to the Company a messuage in St. Gilesin-the-Fields, Middlesex, for the remainder of a term of 1,000 years, in trust to bestow the rents thereof in manner following:—

The property is situated at the back of Great and Little Denmark Street, Soho, in the parish of St. Giles, and is let by lease of 11 July 1809 to Joseph Seger, for a term of 61 years, from Midsummer 1806, at a rent of 80l.

It appears to be entered from a court in Little Denmark Street, through which there is an access into Lloyd's Court. It is bounded on the east by Little Denmark Street, on the north by the backs of the houses in Great Denmark Street, on the south by Lloyd's Court, and on the west by houses at the back of Crown Street.

The distribution of the rent is made pro ratâ according to the original gift of 30l. a year.

The sum thus appropriated to the poor of the Company amounts to 26l. 13s. 4d., which is given to four pensioners, being free of the Company, in the sum of 6l. 13s. 4d. each.

The pensioners are not elected under 50 years of age, and being once elected are continued as pensioners unless removed for a good cause. The pensions may be held with some other pension from other Charities.

The remaining two-thirds, amounting to 53l. 6s. 8d., is annually paid over to the treasurer of the Wallingford Municipal Charities, and is suffered to be applied by them, according to the terms of the foundation, amongst the poor, and for the grammar school.

Charity of Walter Bigg.

This property, known as Nos. 3, 4, and 5, Little Denmark Street, St. Giles, is now (1882) let to Messrs. Crosse and Blackwell, at the rent of 350l. a year.

In consequence of the increase of the annual income available for the benefit of the poor freemen of the Company, by an order of the Board, dated 28th July 1874, it was directed by way of scheme that the annual pensions payable to four poor freemen of the Company should be increased from 6l. 13s. 4d. to 12l. each, and that the residue of the income thereof, which should remain after providing for the payment of such augmented pensions, should be applied in paying yearly pensions of 10l. each, to be awarded under such reasonable regulations as might be prescribed by the Company unto deserving poor freemen, or the widows or orphan daughters of such freemen, all of whom should be called "Bigg's Pensioners."

Blundell's Charity.

Peter Blundell, by his will of the 9th June 1599, gave to the Company 150l. to purchase lands, &c., out of which 2l. was directed to be paid to the poor prisoners in Newgate, London.

The rentcharge of 2l. is upon a house in Threadneedle Street, and is paid annually to Mr. Temple at the Guildhall, for administration by the Corporation of London.

Boone's Charity.

A full account of this endowment is set forth in my report of the 2nd July 1862, made on the occasion of the application of the Company for a new scheme in consequence of the increased income of this Charity.

The estate is situated in the parish of Lee, and consists mainly of 22a. 3r. 26p. of land, bounded partly by the road from London to Eltham (through Lewisham) and partly by the Church Lane, which separates it from the almshouses of the Company.

There is also a small detached plot at the corner of Church Lane, Lee Road, and the lands which are occupied by the Chapel, almshouses, and gardens which face the same road from London to Eltham.

The main portion of the property has lately been let under an agreement for building to Messrs. Todd, builders, under which leases, which have received the sanction of the Board, have been granted as follows:—

Re Christopher Boone's Charity. Particulars of Leases granted by the Company.

Charity of Christopher Boone.

The following Leases have been subsequently granted with the sanction of the Charity Commissioners.

Ralph Bolton's Charity.

Ralph Bolton, by a deed poll of the 27th February 1648, gave to the said Company 466l. 13s. 4d. on condition that they should pay yearly 20l. towards the maintenance of a free school at Audlem, in the county of Chester. The Company pay 20l. per annum to the master of the grammar school at Audlem, in Cheshire.

Braybrooke's Charity.

Gerard Braybrooke, by his will, gave 2l., of which 6s. was for an obit, at St. Martin Outwich, and the residue for the Company.

The sum of 2s. 3d. a year, which is the entire charitable charge, is paid to the churchwardens of St. Martin Outwich annually.

Candish's Charity.

Hugh Candish, by his will of the 29th May 1640, gave to the Company messuages and tenements in St. John Walbrook and St. Mary Fenchurch, to pay—

Notwithstanding the gift of the residue of this estate to the Company for their own use, they apply the entire residue to charitable purposes.

After the small payment to the officers of the Company and 1s. 7d. to St. Martin's Outwich, and the 15s. 1d. to the Company in respect of their purchase of the superstitious charges (confirmed by the Statute of the 4th James I., for which see my report on the Fishmongers' Company), the residue of the rents, amounting in the last year to 168l. 11s. 8d., was carried to the almshouse account.

The property consists of a house No. 30, Fenchurch Street, bounded on the west by premises belonging to Christ's Hospital, and extending backwards 64 feet. It is let to Thomas Snelling, oilman, for a term of 21 years from Lady-day 1847, at a rent of 170l.

Chadwick's Charity.

James Chadwick, by will of the 4th April 1679, gave to the Company 100l. to pay to four poor women 5s. each quarterly.

The Company pay 4l. a year, which is given in sums of 1l. a year each to four poor widows of freemen. These are generally added to other gifts, which make up a larger sum to the particular pensioners. I have elsewhere stated the number of widow pensioners and their amounts.

Church's Charity.

James Church, by a deed poll of the 16th January 1681, gave to the Company 500l.,—to lend 200l. to four young men, gratis, and to pay interest on the remaining 300l., at 4 per cent., to 12 poor men and 12 poor women.

The 200l. being apparently lost by loans, the only endowment remaining is the 12l. per annum, which is made up to 12l. 12s., and is distributed on Good Friday to 12 poor persons of each sex who attend St. Margaret Lothbury, being selected by the court and receiving half a guinea each. The rules as to receiving no other pension, and as to attendance at divine service are adhered to.

Francis Clarke's Charity.

Francis Clarke, about the year 1608, gave to the Company 200l.,—to pay 10l. a year to the parish of Odiham, county of Southampton, towards the relief of the poor there.

And the said F. Clarke, in 1609, gave a further sum of 200l. to the Company to pay 10l. a year to St. Bartholomew's Hospital.

There are no specific funds representing this capital, but 10l. a year is paid to the churchwardens of the parish of Odiham, and 10l. a year to the treasurer of St. Bartholomew's Hospital.

Colborn's Charity.

Henry Colborn, or Colbron, by a codicil to his will of the 1st August 1655, gave to the Company 1,000l. to purchase lands for erecting and endowing a free school in Ashwell, Herts; and he gave the Master and Wardens 100l. for their pains and the endowment of the schoolmaster.

The Company received only 637l. 10s. applicable to these purpeses, of which they applied 290l. in the land and building, and reserved 347l. 10s. for the endowment. The Company pay 17l. 7s. 6d. a year interest in respect of that sum.

The premises at Ashwell consist of a residence for the master, and a school room, built by the Company, and an orchard and garden, or about one and a half acres. On the occasion of an enclosure of a common, an allotment has lately been made to the property.

The Company appoint a schoolmaster at 50l. a year, and they have lately allowed to the retiring schoolmaster a pension of 40l. a year. The Company insure the school from fire at a premium of 16s. 6d. a year. The late schoolmaster was allowed a stipend of 63l. a year. The whole amount beyond the 17l. 7s. 6d. is paid by the Company out of their proper funds. The Rev. H. W. Hodgson, the incumbent, is the visitor, and reports favourably to the Company of the condition of the school, as very beneficial to the agricultural population of the neighbourhood.

Conyers' Charity.

John Conyers, in 1591, gave to the Company 100l., in consideration that they should should pay to the churchwardens of St. Botolph, Aldersgate, 5l. a year, out of the Company's inn in Aldermanbury.

This, which constitutes a rentcharge of 5l. on the property of the Company in Aldermanbury, is paid annually (deducting 1l. for land tax) to the churchwardens of St. Botolph, Aldersgate.

Coventry's Charity.

Thomas Coventry and Hugh Dashfield, by indenture of the 10th July 1636, granted to the Company a yearly fee farm rent of 10l. 3s. 4d. out of the rectory of East Moulsey, Surrey, a fee-farm rent of 14l. out of the rectory of Winslowe, Bucks, and a fee-farm rent of 7l. 13s. 4d. out of the rectory of Kympton, Herts, upon trust, to pay—

The Company receive the four rents, after deducting land tax.

The Company held in their hands at the end of the year 1861, a sum of 179l. 0s. 7d. cash, in respect of accumulations of the apprenticeship fund of the parish of St. Antholin, and 119l. 0s. 6d. accumulations of the like fund for the parish of St. Andrew Undershaft. These sums are not invested.

The payments out of the 25l. 10s. a year, actually made, are,

The Master, Wardens, and Clerk, 1l. 16s. 8d., and a sum of 10l. a year to a receiver, appointed under an instrument which is annually signed by the incumbent of Hornsey, and other gentlemen described as trustees of the Charity of Thomas Coventry to the poor of Highgate, which is expressed to indemnify the Company against any claim of the overseers of St. Pancras.

The indemnity is thus expressed:—

"And in consideration of the said payment being made to us, or to our order as aforesaid, and notwithstanding any notice having been heretofore given to the said minister and churchwardens on behalf of the overseers of the parish of St. Pancras, Middlesex, as to or touching the payment of the said annual sum of 10l., we do hereby undertake to save harmless and keep indemnified the said Master and Wardens, and their successors and their estate and effects, of, from, and against all such actions, suits, proceedings, costs, expences, claims, and demands whatsoever, at law or in equity, which the said Master and Wardens or their successors shall at any time hereafter suffer, sustain, or be subject or liable to or charged or affected with by reason or on account of the said 10l., which became due by the said Master and Wardens on All Saints' Day 1861, by virtue of the trusts or directions of the said deed of 10th July 1635, or by reason of the said Master and Wardens making or having made such a payment to us or to our order instead of to the overseers of St. Pancras and Hornsey, to be by them applied for the purposes in the said deed mentioned as we the said trustees or the more part of us should appoint."

Sir William Craven's Charity.

Sir William Craven, by indenture of the 20th December 1615, granted to the Company all that messuage and shops thereunto belonging in the parishes of St. Mary Woolnoth and St. Michael Cornhill, upon trust, to pay to him, Sir William Craven, for life, 140l. a year.

And by his will of the 9th August 1616, he appointed that the Company should pay yearly to 24 poor aged men 96l., part of the said 140l., of which—

The gifts, amounting in the whole to 140l. a year, are charged on property devised to the Company in Pope's Head Alley, Cornhill.

Creek's Charity.

John Creek, by his will of the 22nd November 1418, gave to the Company a messuage in St. Dunstan's-inthe-East, for certain superstitious uses in St. Mary Abchurch, and for providing 13 quarters of coal for the poor of that parish.
The Charity is entitled to no more than the value of the coals, of which the Company deliver four tons and a half to the order of the churchwardens, which cost in the year 1861 the sum of 5l. 10s. 3d.
The Company are entitled to the house in Tower Street under this devise, and became the purchasers of the charge for superstitious uses, under the instrument of 4 Edward VI., confirmed by the statute 4 James I., to which I have elsewhere referred.

Dandy's Charity.

Andrew Dandy, by his will of the 29th March 1673, gave to the Company his house and ground in St. Thomas the Apostle parish, London, upon trust, to pay out of the rents:—

And upon the expiration of the existing lease and improvement of the rent, to pay such improvement to so many poor men and women of the Company as such future improvement would amount to at 20s. per annum, each man and woman to be elected at the discretion of the master, wardens, and court of assistants of the said Company.
The Charity estate, which consisted of a house in Queen Street, was taken by the Corporation of London, under the City Improvement Act, and is now represented by a sum of 2,264l. 3s., 3l. per cent. Consols, standing in the name of the Accountant-General of the Court of Chancery, and producing an annual dividend of 67l. 18s. 6d.

The Company have in their hand a sum of 8l. from arrears of the above payments to the poor of those parishes which have not been applied for.

Donkin's Charity.

Robert Donkin, by his will of the 1st December 1570, gave to the Company certain lands and tenements in St. Botolph, Bishopsgate, directing them to provide for 12 poor men, and 12 poor women, clothing of the annual value of 21l. 10s., and to pay to the chamberlain and town clerk 10s. each, for their pains in seeing the bequest performed.
The residuary clause of the will is as follows:—
"And so that the whole residue of the said rents and pffets of the said lands, tents, and gardens they do mainteigne and geather yearly into one whole stocke, and therew^th doo and kepe the repacons of the said tents to them devysed and yf nede be newe buildinge the same, as to there dyscrecons nede shall appeare, as the same stocke will faull oute."
The property consists of a number of houses in Sun Street, Bishopsgate, producing a rental the amount of which has not been returned to this office nor disclosed to me. The construction always adopted by the Company, and which seems to have been acquiesced in by the commissioners of inquiry, is that the residue after keeping the estate in repair is given to the Company for their own use. The words, it will be observed, do not express that the residue is to be taken for the use of the Company, but only that it is to be kept in the Company's stock to repair.
It may be a question for the consideration of the Board whether the actual construction of this gift should be determined by any legal proceeding, and whether the Company should be required to render the account of the estate as of an endowment wholly charitable.
I may add that the amount of the residue, whatever it may be, is represented as not exceeding the sum which the Company annually devote to the support of the Merchant Taylor's School, an institution not otherwise endowed.
The Company stated to the Public School Commissioners (Appendix, Vol. 2, p. 249) that they expended from 2,000l. to 3,000l. a year on the school from their own funds, and had recently laid out about 20,000l. for the purpose of adding to the site and buildings.
The Company purchase annually 72 ells of Irish linen, and 120 yards of cloth, or brown stuff, and 24 pairs of hose. These articles cost in the year 1861 the sums of 7l. 4s., 18l., and 2l. 16s. respectively. The sum of 3l. was paid for making up the cloaks.
The gifts are divided equally between 12 men and 12 women, being either freemen of the Company, or freemen's widows, each receiving three ells of linen and five yards of cloth, and each also having 5s. in money.
A sum of 1l. 1s. is paid to the town clerk when demanded, and in one case, when not demanded was carried to the poor account.
The whole of the above payments amounted in 1861, to 38l. 1s. (fn. 3)

Dowe's Charity.

By deed of the 28th August 1605, between the Company of the one part, and Robert Dowe of the other part, reciting that the said Robert Dowe had paid to the Company at various times 2,158l. 10s. 8d. for the purchase of lands, &c., for decayed brethren, and that the Company had made such purchase for 1,212l. 13s. 4d., leaving 945l. 17s. 4d. to be employed on a further purchase; and reciting that the said Robert Dowe had appointed several yearly pensions to be paid out of the rents of the lands purchased and to be purchased;

The said Company covenanted with the said R. Dowe to make the several payments as follows:—

And by another deed of the 4th April 1610, in consideration of 800l. paid by the said Robert Dowe, the Company covenanted to pay as follows:—

The estate charged with this payment, being the property purchased with the gift, is situated in Threadneedle Street, Martin's Lane, in Cannon Street, Lawrence Pountney Lane, Bow Lane, and Watling Street. The liability of the Company is expressed by the covenant, and amounts to the aggregate of the various charges above mentioned.

The Company give pensions of 6l. 13s. 4d. to 13 aged freemen of the Company.

In 1861 there was a vacancy, and the payments were made to 12 only, amounting to 80l. in the whole. A sum of 14l. 12s. 1d. is carried on, and expended every third year, when it amounts to a sum of 43l. 16. 3d. or thereabouts.

In 1859 the cloth purchased was as follows:—

Most of the pensioners receive other pensions, in addition to those derived from this Charity.

Dame Ducie's Charity.

Dame Elizabeth Ducie, by her will of the 16th December 1635, gave to the Company 100l. towards maintaining the widows of almsmen.
The Company charge themselves with 5l. a year, hich is paid to the Almshouse Account.

Elwes' Charity.

Jeffery Elwes, by his will of the 8th April 1666, gave to the Company 400l. for the perpetual relief of the poor. There is no specific investment of this fund; 20l. a year is carried to the Company's Poor Account. From this account various payments are made in the shape of pensions, various gifts to poor members of the Company and their widows, and various sums by way of increase of other small pensions. The sum carried to this account in 1861 was about 1,100l.
Under the several heads of relief, there was paid in the same year—

And a balance of 1,013l. 19s. was carried on to the next account, 1862.

Fish's Charity.

Walter Fish, by his will of the 17th September, 22nd Elizabeth (1580), devised to the Company a house in Cannon Street, purchased with 103l. 5s., arrears of the annuity mentioned in Sir William Fitzwilliam's Charity, and also the annuity of 7l. 6s. 8d., upon trust to pay the rent between five poor scholars of St. John's College, Oxford, and the 7l. 6s. 8d. as follows: 6s. 8d. to the clerk and beadle, and 7l. amongst the almsmen of the livery.
The estate of this Charity is as follows:—

Sir William Fitzwilliam's Charity.

By an indenture (date unknown) between the Company of the first part, Sir William Fitzwilliam of the second part, and Thomas Coles of the third part, the said Company, in consideration of 800l. paid by the said Sir William Fitzwilliam, granted to the said Thomas Coles an annuity of 20l. charged upon premises in Lombard Street and Cornhill, and
Thomas Coles, by his will, devised the said annuity of 20l. for superstitious uses to the parish of Marham.
The Company pay 20l. a year in respect of this gift, of which 7l. 6s. 8d. is carried to the credit of Fish's Charity, and 12l. 13s. 4d. paid to the churchwardens of Marham, in Northamptonshire, annually.

Sir James Gore's Charity.

Sir James Gore, by his will of the 23rd January 1636, gave to the Company 12l. a year issuing out of a tenement in Trinity Lane, London, for the relief of three poor old freemen 4l. apiece.
The rentcharge (deducting 2l. 8s. for land tax, is now paid by Mr. Edward White, of 26, Mark Lane, solicitor.
The sum is distributed in pensions to three men, each receiving 3l. 4s.

Gray's Charity.

Robert Gray, by his will in the year 1639, gave to the Company 1,500l., and a reversionary interest in 1,000l., for the almswomen of the Company.
The Company charge themselves with interest at 5 per cent. on 2,132l., the amount received by them in respect of these legacies.
The interest, amounting to 106l. 12s., is carried to the almshouse account.

Gulston's Charity.

Helen Gulston, by her will of the 15th July 1637, gave 600l. to be laid out in rents answerable for that sum, for the relief of six widows, two of citizens, two of ministers, and two of gentlemen, and she requested that the Company would purchase rents with the said money, and distribute the same among the widows by 5l. each, and the overplus of the rents, if they should amount to more, to be divided amongst them. The fund was not laid out in rents or land, but the Company charge themselves with 30l. a year. The widows elected are not necessarily widows of freemen of the Company, but persons of the different classes specified apply to the Company on the occasion of vacancies.

A list of all vacant pensions remains posted at the hall door for about a fortnight before the meeting of the Charity Committee, which takes place about four times a year, and applications are made on a form of petition which is given to those who apply first, and which requires the signature of a member of the court, which is never refused, so that all may have a hearing.

Sir John Hanbury's Charity.

Sir John Hanbury, by will of the 27th March 1639, gave to the Company 500l. to purchase lands, upon trust, to pay:—
and the overplus to the Company.

The Company charge themselves with 19l. 10s. a year, which is paid to the churchwardens of the respective parishes in the proportions mentioned above.

J. Harrison's Charity.

John Harrison, by his will of the 15th May 1618, gave to the Company 500l. to erect a grammar school at Great Crosby, parish of Sefton, Lancashire, for educating children and youth in grammar, to be called "The Merchant Taylors' School, founded at the charges of John Harrison." And he gave to the Company several messuages in St. Augustine and St. Swithin's parishes, London, on trust, to pay:—
and the remainder to the poor brethren of the Company, 20s. a quarter apiece.

The property of the Charity now consists of the following particulars:—

A scheme was settled by the Court of Chancery by an order of the 28th July 1849. The substance of the scheme was that there should be a schoolmaster and usher, and that the stipend of the master should be increased to 130l. a year, and the stipend of the usher should be increased to 80l. a year, the scholars to be limited to 100, 40 on and 60 not on the foundation; the master was to be permitted to take boarders, and that there should be a half-yearly examination.

The fifteenth clause provided that the Master, Wardens, and Court of Assistants for the time being, and their successors, shall continue to be Governors of the said school, and shall have full power from time to time to make such new or other rules, orders, and regulations for the management and conduct of the said school, and the children to be educated therein, and for the master and usher, and generally in reference to the school, and from time to time to alter such rules, orders, and regulations, as the said Master, Wardens, and Court of Assistants and their successors shall think fit, having regard nevertheless to the principles and system of education pointed out by the said John Harrison, the founder, and enlarged in manner herein-before mentioned.

And the sixteenth clause was as follows:—That after setting apart the several sums herein-before mentioned for the purposes of the said school, or such increased sums as aforesaid, the said Master and Wardens and Court of Assistants shall be at liberty to pay out of the said charity funds an increased annual pension or sum not exceeding 8l. per annum, to each of the poor brethren of the said company, for the time being, and accumulate the surplus moneys (if any) from time to time to be hereafter applied for the maintenance of the said trust property or otherwise for charitable purposes pursuant to the said will of the said John Harrison, the founder, as occasion may require or opportunity offer.

Under an order of the court of the Company of the 2nd May 1861, made in pursuance of the powers reserved to them by the foregoing fifteenth clause of the scheme, other rules and regulations were framed for the government of the school, in the place of those contained in the foregoing scheme. These rules and regulations I append.

The expenses of the establishment of the school are—

(The excess has been provided for out of the Company's funds.)

There were several exceptional charges in 1861.

The disbursements of the Charity to the poor are—

The balance in hand at the end of the year 1861, on account of this Charity, was 566l. 6s. 6d.

The present surplus income at the existing scale of charges is 64l. 10s. 8d. (fn. 6)

Charities of Robert Hawes and others.

Robert Hawes, by his will of the 17th January 1595, after reciting that John Robinson, William Offley, Robert Dow, Richard Venables, William Craven, and the testator had subscribed 336l., and purchased messuages in St. Benet Fink parish, which had been conveyed to the testator, gave the same to the Company upon trust to pay to five poor widows of the Company, and one widow of the parish of St. Botolph, Aldgate, 3l. 9s. 4d., a year each, and the residue of the rents to the Company, the said testator not doubting that should the rents increase to a good balance, the Company would increase the pensions.

Heydon's Charity.

Mr. Alderman Heydon, by will of the 11th March 1519, gave to the Company 100l. to lend the same at 3l. 6s. 8d. per annum, to be paid to the Mercers' Company.

The Company pay a sum of 3l. 6s. 8d. a year to the Mercers' Company. Nothing now is known of the capital fund.

Heyman's Charity.

John Heyman, by will of the 15th October 1646, gave to the wardens of the parish of St. Saviour, Southwark, all his houses at Barnet, Herts, to pay to the Company 40s. for two poor citizens tailors, and 4s. to the clerk.

The churchwardens of St. Saviour, Southwark, pay 2l. 4s. a year to the Company, which is given to two poor members of the Company in pensions of 1l. each, annually, added to other pensions.

The 4s. a year is paid to the clerk of the Company.

Hilles' Charity.

Richard Hilles, by his will of the 28th June 1586, gave to the Company all his tenements and gardens in St. Botolph, Aldgate, parish, subject to the payment of 5l. amongst six of the most impotent poor aged men of the Company.

The Company, out of the rents of these houses, charge themselves with 5l. a year, which is carried to the poor account (see Elwes' Charity).

Holland's Charity.

Ralph Holland, by his will of the 2nd May 1452, gave to the Company certain lands and tenements in St. Alban, Wood Street, and three shops and garden ground in St. Clement's Lane; also a certain tenement in St. Mary Aldermanbury, and a certain inn in St. Andrew Undershaft.

And the testator, by another will of the 3rd May 1452, gave to the Company two tenements in St. Dionis Backchurch, and a tenement in St. Botolph Aldgate, upon trust, for relieving the poor of the Company, and for superstitious uses.

The Commissioners of Inquiry state that the only property known to have been devised under this will is the George Inn, Aldermanbury. This is now let to Francis Brighton for 61 years from Lady-day 1831, at a rent of 165l. a year. The Company carry to their own account 13s. 4d. annually, as given to superstitious uses, and purchased by the Company from the Crown, and carry the residue, 164l. 6s. 8d., to the poor account.

Howden's Charity.

John Howden gave to the Company 333l. 6s. 8d. and certain plate, they agreeing to pay yearly—

The charge for superstitious uses was purchased by the Company, and the alienation confirmed by the Act of the 4th James 1st. The sum of 15s. 9d. a year is paid to the churchwardens of St. Mary Abchurch, and 6s. 8d. to the officers of the Company.

Hull's Charity.

Walter Hull, by will (date unknown), gave to the Company 2l. 4s. a year for two poor members of the Company.

The Company pay two pensions of 1l. each to poor freemen, and 4s. to the clerk.

J. Hyde's Charity.

John Hyde, by his will of the 8th September 1604, gave to the Company certain lands and hereditaments in the Minories and Fleet Street, London, to pay as follows:—

And the rest of the rents for the discharge of poor prisoners for debt in London.

The estate of the Charity consists of the following particulars:—

The payments out of this income are:—

The Company carry over the residue of the rents, under the direction of a scheme which is set out under my report on the "Prison Fund Account."

The sum thus carried over in the year 1861 was 428l. 4s. (fn. 7)

Jenkinson's Charity.

Robert Jenkinson, by his will of the 15th April 1616, gave to the Company 120l., on trust to distribute 6l. on All Saints' day to 14 poor ancient widows in the Tower Hill almshouses in clothing.
And by a codicil of the 14th October 1617, he gave 20l. in augmentation.
The Company charge themselves with 7l. a year interest on 140l. at 5l. per cent., which they carry to the almshouse account.

Juxon's Charity.

John Juxon, by his will of the 17th August 1626, gave to the Company 12l. a year issuing out of certain lands at Mortlake, Surrey, for poor scholars at Oxford or Cambridge.
This rent-charge is now paid by General Popham, the owner of a farm said to be called Brickfarm.
The sum of 9l. 12s. 0d. only is received by the Company, who make up the 12l. by adding 2l. 8s. 0d. from their funds, and bestow the whole upon a poor scholar at one of the Universities alternately each year.

Mason's Charity.

Peter Mason, by his will of the 6th December 1412, gave to the Company certain tenements and shops in the Poultry, upon trust to pay 7l. 13s. 4d. to certain superstitious uses, and the residue for the poor of the Company.
The following table exhibits the present description and income of the property.

The Company apply the income in the payment of pensions:—

The residue is carried over to the poor account of the Company, the nature of which I have described in my report on Elwes' Charity. (fn. 8)

Lady Jane Maynard's Charity.

Lady Jane Maynard, by her will of the 14th March 1660, devised two messuages and 73 acres in Leicham, Kent, and divers marsh lands containing 138 acres in Romney Marsh, to certain persons in tail male, and in default of issue to trustees, upon trust to grant to the said Company a rent-charge of 50l. a year issuing out of the said lands for honest well-disposed freemen of the Company.

The Company receive 40l. a year from the agent of Sir John Bridges, deducting 10l. a year for land tax. The sum of 20l. annually is given to each of two young men free of the Company, who have served their apprenticeship and are about to set up in trade. Evidence is required by the committee of the Company of these facts before the sum is granted, but no other record is taken than the names and addresses of the parties.

The two last recipients of this gift were—

1. Mr. John Mackintosh New, of No. 24, Tavistock Place, Tavistock Square; and,

2. John White Smith, of No. 3, the Grove, Homerton.

Moore's Charity.

William Moore, by his will (date unknown), gave to the Company an annuity of 20s. issuing out of a house in St. Andrew Undershaft, to be distributed amongst the wardens substitutes in decay.

The churchwardens of St. Andrew Undershaft pay 16s. a year, which the Company pay to their poor account.

Osmotherlaw's Charity.

Richard Osmotherlaw, by will of the 7 May 1612, gave to the Company all the residue of the rents of his freehold lands and tenements in St. Botolph, Aldersgate, subject to the payments following:—

John Osmotherlaw purchased an annuity of 6l. (part of the annuity of 10l. to the wife), and the annuity of 2l. to Robert, which with his own of 5l., making together 13l., he afterwards by will of the 1st June 1642 devised as follows:—

The Company are in possession of property in Aldersgate Street and Little Britain, which produces a considerable rental, of which they charge themselves as a rent-charge with 23l. per annum, the amount of the charitable gifts of John Osmotherlaw, the devisee, and of the charitable gifts of Rd. Osmotherlaw, the testator, beyond which there are no claimants.

The 23l. a year is thus applied:—

I wrote to the Rev. C. H. Wyberg, vicar of Bromfield, to inquire as to the existence of this school. He informed me in reply that the money is applied in teaching the number of children mentioned, and that the condition of the school is quite satisfactory.

Robert Parker's Charity.

Robert Parker, by his will of the 10th January 1622, gave to the Company 400l. to purchase lands for good uses in Staffordshire, on trust to pay 20l. a year to the poor of Walsall.

And he gave 100l. to the Company to lay out in land in Walsall to pay to the organ player and his blower in Walsall Church 5l.

And he gave 100l. to the Company to pay to themselves and their officers 5l. a year.

And he gave 100l. to the Company to pay 5l. to the poor of St. Antholin, London.

There has been no investment of the funds in land. The Company charge themselves with 35l. a year, of which sums of 20l. and 5l. a year are paid to the churchwardens of Walsall, and 5l. to the churchwardens of St. Antholin, the remaining 5l. is paid to the clerk and beadle of the Company.

William Parker's Charity.

William Parker, by his will in 1616, gave to the Company 2,000l., to pay 80l. a year as follows:—

The Company charge themselves with the 80l. a year, out of which they pay as follows:—

Parkin's Charity.

This Charity was founded by the will of John Parkin, of the 17th June 1759, whereby, after stating that he was entitled to several sums of money due on certain securities in his said will particularly mentioned, he out of the annual interest arising from such securities gave 60l. per annum to his sister Sarah Parkin, and 16l. per annum to his sister Grace Sharpe, and declared that on the death of his said sisters all the said securities should be vested in the Master, Fellows, and scholars of Pembroke College, Cambridge (then commonly called or known as Pembroke Hall), and he thereby gave and granted the same to the said Master, Fellows, and scholars, together with what should remain yearly out of the annual interest of the said securities after payment of the said annual sums of 60l. and 16l. to his sisters; and he directed that upon the death of either of his said sisters her legacy should cease, and be vested immediately in the said Master, Fellows, and scholars. And he gave all the said securities to the said Master, Fellows, and scholars upon trust for founding five or six Scholarships or Exhibitions in Pembroke College, to be appropriated to and conferred upon five or six scholars educated in Merchant Taylors' School at London, regard being always had to their seniority and station therein, and particularly to those who were head of the school and became superannuated, whom he preferred as emeriti milites; and he directed that one other scholar should be of the free school of Bowes, in the county of York, founded by his late uncle William Hutchinson, Esquire, of Clement's Inn, and of Aldenham, in Hertfordshire. And he declared that it was his intention that those five or six scholars should each have an equal portion or dividend, and be chosen within the space of two months after any avoidance or vacancy by the Master of Pembroke Hall for the time being, and that they should be resident at least nine months in every year, and might enjoy the same till they were of seven years' standing in the University, and no longer; but he directed that until the whole property and interest of the said securities should be in the Master, Fellows, and scholars aforesaid, no more scholarships or exhibitions should be settled than in proportion to the interest money that they were by his will entitled to an should actually receive, and which he left to their judgment and discretion.

The testator died on the 27th August 1765.

By an order of the court of the 9th December 1854, it was ordered that the College of Pembroke Hall, Cambridge, should transfer the sum of 6,700l., bank 3 per cent annuities, into the name of the Accountant-General in trust in the cause, and that the college should sell the sum of 100l. new 3 per cents. standing in their names, and pay the produce thereof to the credit of the same cause, and that the same be laid out in the purchase of bank 3 per cent. annuities.

And it was ordered that of the aggregate amount of bank 3 per cent. annuities, which after such transfer and investment should be standing in trust in the cause "Attorney General versus Parkin," including in such aggregate the 5,824l. 12s. 4d. bank 3 per cent. annuities standing in the name of the Accountant-general in trust in the cause, 20 equal 42 parts of the said bank annuities to be carried over to an account to be entitled, "In the matter of Parkin's Charity the account of the master and wardens of the Merchant Taylors of the fraternity of St. John Baptist in the City of London."

And after directing the taxation of costs, and the sale of so much of the said bank annuities as would be sufficient for the payment thereof, it was ordered that the dividends be from time to time paid to the Company, and that such dividends be applied by the Company in providing four exhibitions, to be called the "Parkin Exhibitions," for scholars educated at Merchant Taylors' School and proceeding to the University of Cambridge for four years, and to be subject to such rules, orders, and regulations in regard to residence or otherwise as the Company should from time to time establish.

The college in 1855, in addition to the stock transferred to the account of the cause, paid the sum of cash of 184l. 14s. 9d.

The capital fund which now stands in the name of the Accountant-General of the Court of Chancery in the cause "Attorney-General v. Parkin," is 5,887l. 14s. 9d., 3l. per cent. consols, producing an annual dividend of 176l. 12s. 6d.

The Company provide four exhibitions for scholars of the Merchant Taylors at Pembroke College of 50l. a year. The cash paid over by the college has hitherto provided the deficiency between the amount of the dividend and the 200l., and this deficiency, I am informed, it is the design of the Company to make up from their own funds when the cash balance is exhausted.

Parry's Charity.

Fowlk Parry, by his will in 1658, gave to the Company 50l., and the interest whereof to be distributed to the poor yearly. The Company pay 2l. 10s. per annum, as the interest of this fund, to the poor account.

(See Elwes' Charity.)

M. Parson's Charity.

Margaret Parsons, by deed of the 10th December, 5th Elizabeth (1562), granted to the Company an annuity of 4l. issuing out of a tenement in St. Christopher, Cornhill, to pay:—

The Company having received the value of this rentcharge from the Bank of England, on the removal of the property for the construction of that edifice, pay 4l. a year, as follows:—

The remaining 30s. a year, to be given to poor maidens servants, or children of Merchant Tailors, in sums of 7s. 6d., has not been distributed for three or four years there is a balance of 6l. 10s. in hand.

Sir John Percival's and Dame Thomasine Percival's Charities.

Sir John Percival, by his will of the 21st February 1507, gave to the Company certain messuages in Lombard Street and Cornhill, for certain superstitious uses, and to pay 10s. yearly to poor householders of St. Mary Woolnoth, 6s. to the churchwardens of the said parish, and 30s. for coals to the said parish, and the residue for the said Company; and

Dame Thomasine Percival, by her will of the 12th February 1508, gave to the Company certain messuages, to apply the rents in performance of the will of her husband, Sir John Percival, and also to pay—

To the churchwardens of St. Mary Woolnoth 8s. 0d.

And to five poor householders 5d. weekly 21s. 8d.

The Company are in possession of the property charged by these wills, and pay a sum of 3l. 15s. 8d. annually to the churchwardens of St. Mary Woolnoth, upon their receipt.

Pitt's Charity.

Christopher Pitt, by deed of the 16th August 1683, gave to the Company 300l., the Company covenanting to pay to six poor men or women 10s. quarterly each (12l.)

There is no specific investment of the 300l. The Company pay 12l. 12s. a year (guineas instead of pounds) for six yearly pensions of 2l. 2s. each, to poor widows of members of the Company.

Wm. Priestly's Charity.

William Priestly, by his will of the 2nd May 1620, gave to the Company 250l., on trust to maintain eight poor men, allowing them 1l. 6s. 8d. a year each, four of the Company, and four of the parish of Hornsey.

The Company charge themselves with the annual payment of 10l. 13s. 4d., being the sum directed by the will, and also with a further sum of 3l. 1s. 4d., making up together 13l. 14s. 8d. The four pensions to the poor freemen of the Company they have raised to 2l. 2s. each, and the four pensions to the poor men of Hornsey remain at 1l. 6s. 8d. each. The poor men at Hornsey are chosen by the parishioners in vestry, and the nomination is accepted by the Company. The Company pay the amount to the churchwarden for his distribution.

Proctor's Charity

Samuel Proctor, by his will of the 1st February 1636, gave to the Company 100l. in trust, to pay at Christmas to

The Company pay 5l. per annum, of which 4l. 10s. goes to the poor account, and the residue to the officers.

Dame Mary Ramsay's Charity.

Dame Mary Ramsay, by her will of the 8th July 1601, gave to the Company 200l., to be lent at 5 per cent. to brethren of the Company, and the profit distributed towards the relief of the poor.

This, although supposed to be lost, is introduced in the list of the loan charities.

The Charity is credited with the payment of interest received on the loan fund which belongs to it. Thus, in the year 1861, this Charity was credited with twoeighths of 27l., which had been received from the executrix of one of the sureties of Mr. C. K. Thompson, for two years' interest on 300l. lent to him under the scheme, at 4½ per cent.

This amount, being 6l. 15s., was carried to the poor account.

Renneck's Charity.

Edward Renneck, by his will in 1656, gave to the Company 100l., to be lent out to two young men, they paying each 20s. a year for interest.

This is one of the loan charities which is credited with the share of the interest received from the borrowers.

In 1861, 3l. 7s. 6d. was brought to this account, being one-eighth of the interest received from the sureties of Thompson, which was carried to the poor account of the Company.

Sir Abraham Reynardson's Charity.

Sir Abraham Reynardson, by his will of the 10th May 1661, gave to the Company 300l., to pay 16l. a year, issuing out of a house in Cornhill, to six poor men and six poor women of the Company.

The Company pay 16l. a year, in pensions of 1l. 6s. 8d. each, to six poor freemen and six poor widows of freemen annually.

Richards' Charity.

Henry Richards, by his will of the 29th January 1674, gave to the Company 500l., to be lent to young men of the Company at 4 per cent. interest, to be disposed of amongst the poorest and most impotent widows, children, and other persons. The fund is lent out under the scheme, and the Charity is credited with its share of the actual interest received.

Thus in the year 1861, the Charity received credit for the sum of 16l. 17s. 6d. for two years' interest due on the 300l. lent to C. K. Thompson, at 4½ per cent., which was paid by the executors of the surety.

There is a class of 10 pensions of 2l. 2s. a year each, to poor women, widows, &c., habitually paid as arising from this gift, and the fund is made up when the interest falls short, by the requisite sum paid out of the poor account of the Company.

T. Roberts' Charity.

Thomas Roberts, by his will of the 14th April 1824, gave to the Company 2,000l. consols (or South Sea annuities) upon trust, to distribute the dividends among the poor almswomen on Tower Hill.

The bequest, which was a specific one, was satisfied by the appropriation of 2,000l. old South Sea annuities, and has since been paid off. The Company made up the sum received in respect of this stock to 2,000l., which was afterwards invested in 2,108l. 0s. 9d., 3 per cent. consols, producing annually 63l. 4s. 9d. The Company pay the dividends to the almshouse account.

Sir Thomas Rowe's Charity.

Sir Thomas Rowe, by his will of the 11th August 1565, gave to the Company all his messuages and hereditaments in London, to distribute 40l. a year among 10 poor freemen of the Companies of Clothworkers, Carpenters, Tilers, Plasterers, and Armourers.

And by deed of the 4th June 1569, he gave 100l. to be lent to poor housekeepers of the Company.

The Company hold property in Thames Street, under the above devise, and apply 40l. a year, in pensions of 4l. each, to two members of each of the above Companies. On the occasion of any vacancy two candidates are chosen by the particular Company, who attend before the Charity Committee, with the beadle of the Company, and the committee select one as the new pensioner.

The loan fund of 100l. forms part of the fund dealt with, and reported on, under the head of Loan Charities. (fn. 10)

Shepham's Charity.

Richard Shepham, by his will of the 20th July 1604, gave to the Company 100l. to be lent to four poor young men.

And by a codicil of the 28th July 1604, he gave to the Company 50l., and the interest laid out in clothing.

The interest on this latter sum, amounting to 2l. 10s. a year, is carried to the almshouse account. The 100l. first mentioned forms part of the loan charities, and is dealt with under that scheme. There is no interest from the loan.

Solly's Charity.

Abigail Solly, by her will of the 9th July 1719, gave to the Company all her lands at Godstone, Surrey, to apply the rents in repairing the tombstone of her brothers, and to apply the surplus amongst poor men and women in December yearly.

The devised land consists of about 20 acres of land, without buildings. It is let to Mr. Henry Steer, yearly tenant, at a rent of 13l. a year.

The tombstone of the testatrix is situated in Bunhill Fields, and in the year 1861 the sum of 6l. 11s. 3d. was expended in its repair.

There had been no expenditure from 1856 to 1861.

The residue is paid to the poor account of the Company.

Spencer's Charity.

Nicholas Spencer, by will of the 3rd July 1597, devised to the Company a messuage and shop in Little St. Thomas the Apostle, upon condition to pay 52s. a year to Doddington parish, in the Isle of Ely, and 3l. 13s. 8d. to the parish of St. Thomas the Apostle, London.

The property charged with this gift has been sold for City improvements, and the money has been paid into the Court of Chancery. The Company pay 2l. 12s. a year to the churchwardens of Doddington, and 3l. 13s. 8d. to the churchwardens of St. Thomas the Apostle, upon their several receipts.

Charities of Stint, Rawthorne, Lane, and Lee.

In the year 1638, —Stint, Jeremy Rawthorne, William Lane, and Walter Lee, gave to the Company 50l. apiece, to pay yearly 12l. to 24 poor aged brethren.

The Company pay 12l. a year, representing the interest of 200l., which they carry to the poor account.

(See Elwes' Charity.)

Stuart's Charity.

The Rev. William Stuart, D.D., by his will of the 10th November 1733, gave,—

"Unto his wife Mary Stuart, the sum of 2,500l. for her to enjoy all the interest of the said sum during her life, and after the decease of his said wife (in case he should die childless), the said sum of 2,500l. to be equally divided between his nephew, the Rev. Charles Stuart, and his niece Mary Stuart, and to their or either of their children to be enjoyed by them and the survivor of them, but in case his said nephew and niece should die unmarried, or by their marriage should have or leave no children behind them, then the said testator declared his will was, and he did thereby give unto the Head Master of Merchant Taylor's School, in London, for the time being, and to the President and fellows of St. John Baptist's College in Oxford, for the time being, the sum of 1,250l. (being one moiety of the before mentioned sum of 2,500l.), and the other moiety of the said sum of 2,500l. he gave and bequeathed unto the Head Master of the said school for the time being, and unto the Masters and Fellows of Pembroke Hall (now Pembroke College) in Cambridge for the time being, in trust, nevertheless, that the Head Master of the said school, and the heads and fellows of the said two colleges respectively, should within two years after they were entitled to their respective moieties lay out the same in the best manner they could devise to answer for ever the design for which he gave the same, and which design was set forth in the said will in the following terms (videlicet):—That a boy who has continued in Merchant Taylors' School five years at least, in hopes of being elected out of it, and has come to the nearest to it, and yet lost the election for no fault in morals or defect in learning, but by superannuation only, that the said scholar may have no reason to think his time lost, or himself unhappy upon that account, the interest and profits annually arising out of that 1,250l. which I have given to the Head Master of Merchant Taylors' School, and to the President and Fellows of St. John Baptist's College in Oxon, in trust, I have given for the use and encouragement of that one superannuated scholar that shall enter himself in the said College of St. John Baptist's, Oxon, to be enjoyed by him for the space of eight years, and no longer, or for so long only as he shall reside there, and duly perform all the exercises that the statutes of that university and of the said college required of scholars, bachelors, and masters of arts. The other 1,250l. which I have given in trust to the Head Master of the Merchant Taylors' School aforesaid, and to the Master and Fellows of Pembroke Hall in Cambridge, I design for the use and encouragement of another scholar of Merchant Taylors' School that shall be superannuated as aforesaid, and shall enter himself of Pembroke Hall in Cambridge, and he shall receive and enjoy all the interest and profits arising from the said 1,250l. for the space of seven years from his first entry in that university, or for so long time only as he shall reside there and duly perform all the exercises that the statutes of the college and university require of scholars, bachelors, and master of arts. As soon as the term of eight years shall be fully completed by the said superannuated scholar in St. John Baptist's College in Oxon, and the term of seven years shall be completed by the other superannuated scholar in Cambridge, the payment of the interest of each of the said sums of 1,250l. shall be discontinued to them respectively, and as often as it shall happen that there shall be no scholar in Merchant Taylors' school actually superannuated in the manner above required from the expiration of the term allowed as above to each of the said scholars for their enjoyment of the said interest to the time that a scholar in the said school shall be superannuated as above, whatever interest shall become due, the Master of Merchant Taylors' school with the Heads and Fellows of the two colleges above mentioned shall have hereby power to demand and receive, and shall be obliged to add it to that 1,250l. from whence the said interest shall arise, for the augmentation of the said sum, and the better support of the said superannuated scholars for the future. But if there shall be in the said school a scholar that shall have actually lost the election by superannuation only within a year after the expiration of either the terms allowed as above to either of the said scholars in Oxford or Cambridge, then and in that case the interest that shall become due for that year shall not be reserved as above mentioned, but it shall be given to and be enjoyed by the boy that shall be superannuated within that year. And the testator gave certain directions as to the investment of the said trust funds during the lives of his wife, nephew, and niece. And he appointed the Head Master of Merchant Taylors' School, and the President and Fellows of Saint John Baptist's College, Oxford, and the Master and Fellows of Pembroke Hall, Cambridge, all for the time being, his executors, in trust for his said donation."

The said testator departed this life shortly after making his said will, and without having revoked or altered the same, and the same was duly proved in the Prerogative Court of the Archbishop of Canterbury on the 14th day of November 1734.

Upon the petition of the Master, Fellows, and scholars of the College of Valence Mary, commonly called the Pembroke College in the university of Cambridge, and of the Rev. John Power and the Rev. Wm. Haig Brown, two of the fellows of the said college, on the 18th day of June 1855, preferred unto the Master of the Rolls,

It was ordered that the agreement therein mentioned entered into by Pembroke College, Cambridge, and the Merchant Taylors' Company be carried into effect, and it was ordered that the Master, Fellows, and scholars of Pembroke College should, on the 1st day of December 1855, transfer the said sum of 3,036l. 17s. bank 3 per cent. annuities standing in their names in the books of the governor and company of the Bank of England into the name and with the privity of the Accountant-General of the court, in trust in the cause "Stuart v. AttorneyGeneral," and the said Accountant-General was to declare the trust thereof accordingly, subject to the further order of the court. And it was ordered that it be referred to the proper taxing master of this court to tax all parties their costs. And it was ordered that so much of the 3,036l. 17s. bank 3 per cent. annuities, when so transferred as therein-before directed, as would be sufficient to raise the amount of such costs when taxed, be sold with the privity of the said Accountant-General, and out of the moneys to arise by the said sale, it was ordered that the costs be paid as therein directed. And it was ordered that two equal seventh parts of the residue of the said 3,036l. 17s. bank 3 per cent. annuities which should remain after the sale therein-before directed, and two seventh parts of any dividend on the said bank annuities accrued prior to the sale, be carried over with the privity of the said Accountant-General, in trust in the said cause, to an account to be entitled "The Account of the Master, Fellows, and Scholars of Pembroke College, Cambridge," and the said AccountantGeneral was to declare the trust thereof accordingly, subject to the further order of this court. And it was ordered that the said two sevenths of the said dividends and the dividends to accrue due on the bank annuities when so carried over be from time to time as the same should become due, paid to Pembroke College Cambridge, to be applied by them in providing a scholarship to be called "The Stuart Scholarship," for such student of the said college as the said Master, Fellows, and scholars should from time to time elect, such scholarships to be subject to such rules and regulations as to the continuance and enjoyment thereof as the said Master, Fellows, and scholars should from time to time direct. And it was ordered that the remaining five equal seventh parts of the said residue, the amount to be verified by affidavit, and five seventh parts of any dividend on the said bank annuities, to accrue prior to the sale therein-before directed, be carried over in trust in the said cause, to an account to be entitled "The Account of the Master and Wardens of the Merchant Taylors of the fraternity of St. John Baptist in the city of London." And it was ordered that the said five seventh parts of the said dividends, and the dividends to accrue due on the said bank annuities when so carried over, and the dividends to accrue due on the said bank annuities to be purchased as herein-after directed, be from time to time, as the same should become due, paid to the Merchant Taylors' Company, to be applied by them in providing one or more exhibition or exhibitions at the university of Cambridge, to be called the Stuart exhibition or exhibitions, for scholars brought up in the Merchant Taylors' School, who should have been four years in the said school, and who should be proceeding to any college in the said university, such exhibition to be enjoyed for such term, not exceeding four years respectively, and to be subject to such rules and regulations in regard to the residence or otherwise as the master, wardens, and court of assistants of the said fraternity should from time to time establish, but no such exhibition should be enjoyed by any scholar who should have previously been elected to a Parkins exhibition. And it was ordered that the elections to such exhibitions be by the said master, warden, and court of assistants, at such times and in such manner as they should from time to time appoint. And it was ordered that any income of such exhibitions be from time to time invested by the said master and wardens in like annuities by way of addition to the existing capital fund.

The sum of 2,052l. 7s. 5d. consols stands in the Court of Chancery to the credit of the cause of Stuart v. The Attorney-General, the dividends amounting to 61l. 11s. 4d. being paid to an exhibitioner from the Merchant Taylors' School to some college in the university of Cambridge. There is a balance of 63l. 16s. 5d. cash arising from vacancies, which will be invested in increase of the capital stock.

Sutton's Charity.

Thomas Sutton, by will of the 26th May 1432, gave to the Company all his lands and tenements, with a wharf in St. James, Garlickhithe, and certain lands in Trinity the Less, for the relief of the poor in their almshouses near the hall, and for superstitious uses.

The property consists of the following particulars:—

The property is subject to a quit rent of 1l. 6s. (of which 4s. is deducted for land tax and 11d. for property tax), payable to the Duke of Bedford.

The whole residue of the income is carried to the almshouse account.

Thomlinson's Charity.

Thomas Thomlinson, by will of the 6th April 1567, gave to the Company a messuage in St. Mildred, in the ward of Broad Street, at the coldest time of the year to provide two loads of coal at 16s. a load, for the most needy of that parish; and to Christ's Hospital 20s. a year.

The property devised to the Company is situated in St. Mildred's Court, Poultry, and has been lately sold to the Goldsmith's Company, who were the reversioners of a long lease of 999 years. The Company pay 2l. 12s., that is to say, 32s. to the churchwardens of St. Mildred and 20s. to Christ's Hospital.

Charities of Thomas and Susannah Townsend.

Thomas Townsend, by his will of the 16th May 1789, gave to the Company a leasehold house in Broad Street, to apply the rents (after his wife's decease) in supporting a Thursday evening lecture in St. Michael, Crooked Lane, except in Passion Week, when it might be on Friday evening.

And the testator directed that the rents should be applied as follows:—

And Susannah Townsend, by her will of the 28th July 1810, gave to the Company 200l. per annum, long annuities, for the use of the lecturer, instead of the house, which bequest was void.

The sum of 4,525l. reduced three per cent. annuities, which stands in the corporate name of the Company, as stated in the last report (Vol. 17, p. 460) as the ultimate fund arising from the sale of the long annuities found upon the Chancery proceedings to be applicable to this Charity, produces a dividend of 135l. 15s. a year, which is thus disposed of:—

Tressawell's Charity.

John Tressawell, by his will of the 1st March 1518, gave to the Company a quit rent of 6s. 8d., and a cottage and garden, and another quit rent of 1l. 6s. 8d., to distribute the same in most pure and perpetual alms for evermore

The property devised by this will is,

The whole is carried to the poor account of the Company. (fn. 11)

Tudman's Charity.

William Tudman, in the year 1657, paid to the Company 250l., in consideration whereof the Master and Wardens, by deed of the 5th June 1657, covenanted to pay 12l. a year to the parish of St. Mildred, Poultry; and in consideration of a further sum of 50l., the Company agreed to pay 50s. to the poor.
The Company pay the 14l. 10s. a year, of which 12l. is paid to the churchwarden of St. Mildred, Poultry, and 2l. 10s. is carried to the poor account.

W. Tudor's Charity.

William Tudor, in 1655, gave to the Company 50l., to pay 50s. to the poor of the Company.
The Company carry 50s. a year to the poor account of the Company.

Sir William Turner's Charity.

Sir William Turner, by his will, gave to the Company 300l. to pay 3l. apiece to three poor clothworkers.
There is no specific investment of the money. The Clothworkers' Company nominate two persons for each of these pensions, when a vacancy occurs, and the Merchant Taylors' Company elect one. They are always full.

Vernon's Charity.

John Vernon, by his will of the 10th October 1615, gave to the Company 60l. to pay yearly 3l. 6s. 8d. as follows:—

And the testator gave 1,500l. to the Company to purchase land of the yearly value of 83l., to be paid as follows:—

And the testator directed the remaining 50s. to be laid up yearly, for three years, and 10s. given to the 10 poor men on St. John's Decollation day, and the remaining 7l. the testator was to take allowance of in his next legacy.
And the said testator gave to the Company three houses, in St. Edmund the King, London, to pay 93l. a year, as follows:—

And he directed the remaining 12l. 10s. to be laid up for three years, and with the before-mentioned sum of 7l., making altogether 44l. 10s., to be expended—

And the testator gave 30l. to the Company to be lent out at interest, and applied in the purchase of two rooms.
And he also gave 200l. to the Company as a stock for the purchase of coals.
And the testator gave the residue of his effects, after the payment of his debts and legacies, to be laid out in the purchase of land to be applied to some good use to the poor.
The legacies of 60l., 1,500l., and 200l., together with the residue, made up a sum of 2,915l. 6s. 9d., for which the Company charge themselves with interest at 5 per cent. It has never been invested.

The property devised by the will consists of the following particulars:—

The disbursements of the Company on account of this Charity are:—

James Wilford's Charity.

James Wilford, by his will in the year 1514, gave to the Company a rentcharge of 9l. 13s. 4d., out of the "Saracen's Head Inn," Friday Street, upon trust, to pay,—

The rentcharge is paid out of the estate charged, which belongs to the Company. The Company pay. To the churchwardens of St. Bartholomew, by the Exchange, deducting land tax, 1l. 12s. To the minister 1l. 1s., clerk 5s., and sexton 2s. 6d.; in the whole 1l. 8s. 6d. To the officers of the Company, 6s. 8d.
The sum of 7l., deducting 1l. 8s. a year therefrom as land tax, is annually paid. The last authority was signed by the churchwardens of Rye and two parishioners and inhabitants of Rye, and the same officers and the same number of inhabitants and parishioners of Northyam.
From the fund saved after the deduction of the land tax, the Company have increased some of the above payments, as appears by the foregoing statement, and carry the residue, amounting to 14s. 2d., to the poor account.

John Wilford's Charity.

John Wilford, by his will of the 4th February 1550, and subsequent codicils, gave an annuity of 14l. to the Company, 13l. thereof to be bestowed in repairs of the highways next adjoining the parish of Mitcham, Surrey, and the remaining 1l. to the Master, Wardens, and officers of the Company.
After the testator's death, his eldest son, James Wilford, granted an annuity of 4l. 13s. 4d. (one-third of the said annuity of 14l.), to one James White, charged upon freehold property in St. Bartholomew's parish, and which annuity was assigned to Richard Botyll, an agent of the Company. John Wilford, testator's second son, secured the remainder of the 14l. per annum by granting an annuity of 9l. 6s. 8d. to the said Richard Botyll, charged on premises in Mark Lane and Fleet Street, and Richard Botyll bequeathed the two annuities to the Company.
The rentcharges are collected by the Company, and amount, after the deduction of 2l. 16s. land tax, to the sum of 11l. 4s. a year. 10l. 8s. a year is paid alternately to the churchwardens of the several parishes of Mitcham, Streatham, Sutton, and Carshalton, their receipts being accompanied by a certificate of the surveyor of the highways that the amount has been expended in repairs.
The remaining 16s. is paid to the officers of the Company.

John Williams' Charity.

John Williams, by will of the 12th November 1712, gave to the Company 50l., to pay six poor cutting tailors or their widows 3l.
The sum of 3l. a year is paid by the Company to the poor account.

Wooller's Charity.

John Wooller, by will of the 26th March 1617, gave to the Company 24l. a year, to be issuing out of a tenement in St. Magnus the Martyr parish, and applied as follows:—

The rentcharge of 24l. a year is paid by the proprietors of Fresh Wharf, Thames Street, and they add 8l. a year for an increase to the exhibition, making it up to 10l. a year.

Woolley's Charity.

Randolph Woolley, by will of the 23rd June 1615, gave to the Company 240l., to pay to two poor men of this Company, and to one poor man of the Clothworkers' Company, 4l. a year each, 12l.
And he also gave to the Company 100l., to pay to the Free School, Wolverhampton, 5l. a year.
And he also gave to the Company 50l., to pay to an almswoman 52s. yearly.
And he also gave to the Company 100l. to be lent in free loan, to four poor young men of the Company.
The sums amounting altogether to 392l. (taking the gift of 50l. to be 52l.), are credited to the Charity at 5 per cent. per annum, producing 19l. 12s. a year.

The Company's books give no trace of the receipt of the 100l. on the loan account; but it is included in the fund under the decree. (See Loan Account.)

Almshouse Account.

From the several Charities, the following sums are annually carried over to the almshouse account:—

The number of almswomen at the almshouse at Lee, are 29, with an additional house for the superintendent.

The expenditure, so far as the Charities fall short, is made up out of the funds of the Company. The surplus expenditure for some years past has varied from 50l. to 300l. or thereabouts.

The Poor Account.

The following sums are carried over to this account:—

A sum of about 500l. a year is administered to poor freemen and their widows, according to the cases laid before the Charity Committee of the Court of Assistants in sums varying from 1l. to 10l. or thereabouts.
On this account there have been created two classes of yearly pensions not falling under any specific Charity. There are 10 pensioners of 12l. a year to poor freemen of the Company, and 12 pensioners of 20l. a year to almswomen who are widows of Liverymen, not in the almshouses.
Some other sums are paid out of this fund for the increase of various pensions given under several of the Charities. These amounted together in 1861 to 16l. 2s.
The total payments in that year amounted to 876l. 2s.
There was at the end of 1861 a balance of cash to the credit of the poor account of 1,013l. 19s.

Loan Account.

An information was filed against the Company by the Attorney-General, at the relation of George Everitt, in January 1833, praying that the Company might be charged with the following sums:—
and that the same might be applied and made available to the use of the freemen of the Company according to the gifts, and that it might be referred to the Master to settle a scheme for the same. The decree was made by the Master of the Rolls on the 27th November 1834, on the admission by the Company of the receipt of the several sums mentioned, and it was referred to the Master to settle the interest due on the sums therein named, and also to settle a scheme. The Master made his report on the 27th April 1835, approving the following scheme.

1st. That the said sum of 1,300l. together with the amount of interest on the said sum of 500l., after deducting thereout 470l. 13s. 10d. for the taxed costs of the said relator and defendants, and such further costs as the court may direct, be from time to time lent out by the defendants with the assent of the said Company, in several sums of not less than 50l. each, and not exceeding 300l. each, for a term not exceeding four years according to their discretion, at such a rate of interest as shall yield an annual income of 32l. per annum at least, that being the amount of interest directed by the wills and deeds of Dame Mary Ramsay, Edward Renneck, and Henry Richards, to be reserved and to be applied by the Company annually to certain charitable uses therein mentioned.

2nd. That such portion of the said principal sums which at any time may not be out on loan or not to be required for that purpose, and would otherwise be in the Company's possession, should be invested in Government securities as the defendants with the assent of the assistants should think proper, and the dividends to arise thereon to be applied in the first place in making good any deficiency there may be in the receipt of the 32l. per annum so devoted to charity as aforesaid, and in the next place, in case there shall be no such deficiency or a surplus after providing for the same, such dividends or surplus to be distributed annually amongst the poor of the Company at the discretion of the said defendants with such assent as aforesaid.

3rd. That the said defendants shall not be liable to make good any loss that may arise from the failure of the orrowers of any portion of the said principal money or their sureties, unless such loss shall arise from the wilful default or neglect of the said defendants.

4th. That the borrowers shall be respectively required with two sureties each, such sureties to be approved by the said defendants, to enter into a joint and several bond to the same defendants, in a penalty of double the amount, but the condition of such bond to be in form and substance or to the effect following (that is to say), That if the borrower, his heirs, executors, or administrators, shall well and truly pay or cause to be paid unto the said defendants, their certain attorney, successors, or assigns, the sum of money borrowed at the expiration of the time for which such sum may be agreed to be lent, together with interest for the same in the mean time payable quarterly, And if it shall happen that the said borrower shall die, fall to decay, or dwell out of the city of London, or out of the bills of mortality before the day of payment, then that if the heirs, executors, or administrators of the said borrower shall well and truly pay or cause to be paid unto the said defendants, their successors or assigns, the sum borrowed with the interest within 60 days next after such the death of the said borrower, or his decay, departure, or dwelling out of the city of London, or out of the bills of mortality, which of them soever shall first happen, and also that if the sureties named in the bond or either of them shall happen to die, fall to decay, depart or dwell out of that part of Great Britain called England, before the said day of payment, then that if the said borrower or the survivor of the said sureties or either of them within 60 days next after such the dying, decaying, or dwelling out of England of them or any of them, shall find, name, cause, and procure such other able and sufficient person or persons as by the said defendants or their successors shall be thought fit and allowed of to be bound by their obligation to be sealed to the said defendants or their successors in the stead and place of him or them so dead, decayed, departed, or dwelling out of England, in such sum and with such condition and in such sort as he or they which shall be so dead, decayed, departed, or dwelling out of England shall then stand bounden, or else should pay or cause to be paid unto the said defendants, their successors or assigns, the sum of money borrowed, with the interest, within 60 days next after such the dying, decaying, departing, or dwelling out of England of them or any of them, which of them soever should first happen, without fraud or delay, then such bond to be void, otherwise to be in full force and virtue.

5th. That the clerk of the said defendants for the time being shall be at liberty to charge the borrowers respectively the usual and necessary charges for preparing and completing each bond.

6th. That when any portion of the principal money aforesaid shall be in the said defendant's possession to be lent out, advertisements shall be inserted in two or more of the daily newspapers at the discretion of the said defendants offering to lend out the same pursuant to the terms of this scheme, and notice thereof shall be put up in some conspicuous part of the hall or premises of the said Company in Threadneedle Street in the said City.

7th. That a book shall be provided by the defendants and kept by their clerk, in which shall be entered the names and residences of the respective borrowers and their sureties, their respective profession or business, the sums lent, the times of making the loans, and when payable, with the interest thereon, and such other particulars as may be thought material or necessary.

The cause came on to be heard on further directions on the 3rd June 1835, when it was ordered that the scheme be carried into execution, with the following variation in the second clause:—

"That the expenses attending the purchase or sale of any funds belonging to the Charity from time to time be in the first place paid out of the dividends to accrue due on such of the money as may be invested in bank annuities."

The loan fund and interest made together 1,345l., from which the taxed costs of 547l. 11s. were deducted, leaving 797l. 9s., which ultimately forms the capital of the loan fund. The court of the Company, on the 27th October 1835, ordered that the said sum should from time to time be lent out by the Master and Wardens.

Mr. Fisher, the clerk of the Company, has furnished me with an account, showing the state of the fund at the present time, of which the following is a copy:—

Of which 200l. is out on loan to Mr. Stanley Peel Cannon, for four years from 18th November 1862, at 4½ per cent. per annum, and the remainder (434l. 10s. 2d.) in hand.

F. L. Hopkirk,
Accountant to the Company.

Merchant Taylors' Hall, 3rd May, 1864.

Prisoners' Fund Account.

In the year 1850 the Company presented a petition to the Court of Chancery, praying for a new scheme as to the Charities of John Hyde, Robert Dowe, and John Vernon, for the benefit of Poor Prisoners of London, in which it was submitted that the allowance for the relief of prisoners might be increased from 5l. to 30l. By an order made on the hearing of the petition, it was referred to the Master to inquire and state what alteration should be made in the scheme in the petition mentioned for the appropriation of the dividends and future surplus rents of the trust estates.

The Master by his report of the 18th July 1850, found (amongst other things) that difficulties had arisen in carrying into effect the trusts, and that in the year 1818, on the petition of the said Company, it had been referred to him to approve of a proper scheme for the appropriation of a sum of 405l 11s. 0d., and of the future surplus rents, and that in pursuance of the said order he had made his report of the 31st May 1820, and thereby, after stating that for a great many years prior to 1815 the said trust funds were wholly applied by the Company in the relief of poor prisoners, debtors, entitled to discharge, but were unable to pay their prison fees, but that since 1815, by reason of the Company having doubts as to the correctness of the application of the funds, the said Company had only partially applied such funds for the relief of poor prisoners debtors, and that there remained unapplied 405l. 11s., to which was added 262l. 16s., the amount of the residue of the rents for one year and a half, making together 668l. 7s. And after stating the particulars of the said devised estates, and of the several other funds belonging or applicable to the said Charity, together with the charges and payments directed to be made out of the rents and profits of the said estates so devised by the said John Hyde, as aforesaid, and that the said Master and Wardens proposed that the said sum of 668l. 7s. should be laid out and invested in the purchase of 3 per cent., Consolidated Bank Annuities in the names of the said Master and Wardens, and that the said Master and Wardens should yearly and every year divide the clear residue of the rents and profits of the estates so devised by the will of the said John Hyde, into three equal parts or shares, and should also divide the said trust moneys or yearly sums of 20l. and 16l., so given or directed to be paid by the said Robert Dowe and John Vernon, and also the dividends of the stocks or funds so proposed to be purchased with the sum of 668l. 7s. as aforesaid, into four equal parts or shares, and should apply the same respectively in manner thereinafter mentioned (that is to say) with respect to one equal third part or share of the said clear residue of the rents and profits, and of one-fourth of the said other trust moneys and interest, to pay and apply the same for and towards the discharge of the poor prisoners who for the time being should or might be confined for debt in the new prison in Whitecross Street, London, aforesaid, in the ward called the Giltspur Street Compter Ward, from such debt or debts, or as he, she, or they might be confined upon in such prison, not exceeding 5l. in the whole, by equal monthly payments, upon application to be made by any one or two or more poor prisoners in such ward, and requiring assistance to discharge the same, and that such application should be made by petition in manner prescribed by the form of the petition in the said report mentioned; and that the said master and wardens also proposed with respect to one other third part or share of the residue of the said rents and profits, and of one other fourth part of the other trust moneys and interest, that the same should be applied for or towards the discharge of poor persons confined in the said prison for debt, whose debt or debts upon which he, she, or they might be confined upon in the said prison did not exceed 5l. in the whole, in the same division, in the ward called the Poultry Compter Ward, and requiring assistance to discharge the same, to be applied for and certified upon petition in the same manner as therein before was mentioned with respect to poor prisoners, and confined in the same prison in the Giltspur Street Compter Ward as aforesaid; and that the said master and wardens proposed with respect to the remaining one-third part or share of the residue of the said rents and profits, and of one other fourth part or share of the other trust moneys and interest, that the same should be applied for or towards the discharge of poor prisoners confined in the said prison for debt, whose debt or debts upon which he, she, or they should or might be confined upon in the said prison did not exceed the sum of 5l. in the whole, in the same division, in the ward called the Ludgate Ward, and so requiring assistance to discharge the same, to be applied for and certified upon petition in the same manner as thereinbefore was mentioned with respect to the poor prisoners confined in the same prison in the Giltspur Street Compter Ward, as aforesaid; and that the said master and wardens also proposed with respect to the remaining one-fourth or share of the said other trust moneys and interest, that the same should be applied for or towards the discharge of poor prisoners confined in the said prison for debt in the Middlesex division, in the ward called the Newgate Ward, whose debt or debts upon which he, she, or they should or might be confined upon in the same prison should not exceed in the whole 5l., and requiring assistance to discharge the same, to be applied for and certified upon petition in the same manner as thereinbefore mentioned with respect to poor prisoners so as aforesaid confined in the same prison in the Giltspur Street Compter Ward, as aforesaid; and that it was further proposed that in case at any monthly meeting or court of the said Company the sum or sums appropriated in any month under the said proposal towards the discharge of the poor prisoners as aforesaid, or any part thereof, should not be applied for or granted, then that the monthly sum or sums appropriated and applicable as aforesaid, or any part thereof which should not be applied for or granted, should go and be added to the monthly sum appropriated for the ensuing month under the said proposal to and for the several purposes aforesaid, to the particular ward whose monthly sum or any part thereof should not have been applied for or granted as aforesaid, and so from time to time as often as the case should or might happen, and that every petition to be presented to the said Company from time to time by any poor prisoner from either of the said wards or divisions, and requiring assistance to discharge his or her debt or debts, and whose debt or debts upon which he, she, or they should or might be confined did not amount in the whole to the sum of 5l., should be presented, signed, and certified in manner thereinbefore and thereinafter mentioned, and left with the clerk of the said Company, at his office at the hall of the Company, at least seven days previously to any monthly court or meeting of the said Master and Wardens and Court of Assistants of the said Company; and after stating that a further sum of 175l. 4s. had been received by the said master and wardens on account of the said rents and profits, and other trust monies as therein mentioned, which said sum of 175l. 4s. being added to the said several sums of 405l. 11s. and 175l. 4s., made together the sum of 755l. 19s., and that he found that notice had been given to the poor prisoners who were confined for debt in the New Prison in Whitecross Street, of the proceedings before him in pursuance of the aforesaid order, and that they had declined to attend him, the said master, or to lay any scheme before him for the appropriation and application of the said trust moneys, he found by his said report of the 31st day of May 1820 that the nature of the said charities and the several funds belonging thereto were such as were particularly stated in his said report, and he thereby approved of the scheme therein-before stated for the appropriation and application of the balance of the said 405l. 11s., and of the further sums of 175l. 4s. and 175l. 4s. then in the hands of the said Company, and also of the future surplus rents of the trust estates and other trust moneys given by the said deed of Robert Dowe and by the said wills of John Hyde and John Vernon, consistently so far as might be with the charitable intentions of the said donor and the several testators respectively; and he further found by his said report that the yearly rental of the said estates so devised by the said John Hyde as aforesaid then amounted to the sum of 160l., and that the specific payments by the said will directed to be made thereout then amounted in the whole to the sum of 20l. 16s. And he found by an order of the court dated 31st day of July 1820 his said report was confirmed, and it was ordered that the costs of the said petitioners should be taxed and paid out of the said balance or sum of 755l. 19s., and that the residue of such balance should be invested in the purchase of bank 3 per cent. reduced annuities; and he found that the said costs were duly taxed and paid out of the aforesaid balance, and the residue thereof was invested in the purchase of 835l. 10s. 9d. Bank 3 per cent. reduced annuities, pursuant to the said order of the 31st day of July 1820. And he found by an Act of Parliament passed in the seventh and eighth years of the reign of Her present Majesty, intituled "An Act to amend the "Laws of Insolvency Bankruptcy, and execution," it was (amongst other things), enacted that from and after the passing the said Act no person should be taken or charged in execution upon any judgment obtained in any of Her Majesty's Superior Courts, or in any county Court of Requests or other superior court in any action for the recovery of any debt wherein the sum to be recovered should not exceed the sum of 20l. exclusive of the costs recovered by such judgment, and it was also enacted that all persons in execution at the time of the passing of the said Act upon any judgment obtained in any of the courts aforesaid in any action for the recovery of any debt wherein the sum recovered should not exceed 20l. exclusive of the costs recovered by such judgment, should and might upon the applica tion of any such person or persons for that purpose made at any time after the passing of the said Act to a judge of one of Her Majesty's superior Courts of Law at Westminister, or to the court in which such judgment should have been obtained to the satisfaction of such judge or court, be forthwith discharged out of custody as to such execution by an order of such judge or court. And he found that after the date of the said order of the 31st day of July 1820, and so far as circumstances would permit, the said Company applied the said trust property for the relief of prisoners for debt, pursuant to the before mentioned scheme, and that since the said Act came into operation there had ceased to be in the aforesaid prison any prisoners to the relief of whom the said trust property could be applied according to the terms of the said funds had been appropriated for the benefit of such prisoners, and that the surplus had from time to time been invested by the said Company in bank 3l. per cent. reduced annuities, and that there is now standing in the names of the said master in the books of the Governor and Company of the Bank of England the sum of 2,291l. 5s. 2d. bank 3l. per cent. reduced annuities, purchased with such surplus unappropriated trust moneys as aforesaid, together with the said 835l. 10s. 9d. bank annuities. And he found that the said trust property consisted of the said hereditaments devised under the said will of the said John Hyde of the 8th day of September 1604, the average net annual rental whereof for the last five years after deducting the aforesaid charges and other expenses therefrom has been 127l. 19s. 2d. or thereabouts, and of the said annual sum of 20l. under the said gift of the said Robert Dowe, and of the said annual sum of 16l. under the said gift of the said John Vernon, and of the said 2,291l. 5s. 2d. Bank 3 per cent. reduced annuities. And it was submitted on the part of the petitioners the Merchant Taylors' Company, that the beforementioned scheme should be varied by increasing the amount of debt in respect of which prisoners were or might be relieved, from not exceeding 5l. to a sum not exceeding 30l., and in consideration of the several circumstances in the said petition and herein-before mentioned, the Master was of opinion that the aforesaid scheme for the appropriation of the dividends of the said 2,291l. 5s. 2d. reduced annuities as well as the future surplus rents of the said trust estates and other trust moneys should be altered by increasing the amount of debt in respect of which the prisoners before referred to might be relieved according to the said scheme to a sum not exceeding the sum of 30l.

This Report was acted upon up to the period of the New Bankruptcy Law, since which time there are no applications for relief of this nature.

The present state of the Prison Funds is as follows:—

In addition to the foregoing sum, which all except Hyde's is dedicated to the four prisons jointly, and Hyde's to the Giltspur, Poultry, and Ludgate wards only, there is on the

There is therefore, at the present time, nearly 6,000l. reduced stock in the hands of the Company to the Prisoners' Fund Account.

All which I submit to the Board.

Thos. Hare,
Inspector of Charities.

28th June 1864. (fn. 14)

Rules and Regulations for the future Management and Conduct of Great Crosby School.

First.

The Master shall be a clergyman of the United Church of England and Ireland. He shall occupy the schoolhouse and premises without paying any rent for the same, but shall keep the said school-house and premises in good and tenantable repair and condition, and shall pay all rates and taxes and other outgoings in respect thereof. His fixed stipend shall be the sum of 120l. per annum, payable quarterly, and there shall also be paid to him, at the expiration of each quarter, the further sum of 5s. for each boy taught in the school, whose name shall have been upon the school register during the whole of such quarter. He shall be further entitled to share in the quarterages as hereinafter provided. The Court of the Merchant Taylors' Company will expend such sum, not exceeding the sum of 20l. per annum, as shall appear to them necessary, in or towards the substantial repair of the school premises and for the insurance of the same against loss or damage by fire. They will also pay to the Master the annual sum of 5l. towards the expense of warming and lighting the school-room.

The Master shall be at liberty to perform such ecclesiastical duties as he may think fit on Sundays, but, with this exception, he shall not hold or exercise any cure or other employment whatsoever, either ecclesiastical or civil, without the previous consent in writing of the Court of the Merchant Taylors' Company. The Master shall not be at liberty to take boarders.

Second.

The Usher shall be a member of the United Church of England and Ireland. His fixed stipend shall be the sum of 80l. per annum, payable quarterly, and there shall also be paid to him, at the expiration of each quarter, the further sum of 1s. 6d. for each boy taught in the school, whose name shall have been upon the school register during the whole of such quarter. He shall be further entitled to share in the quarterages as hereinafter provided. The Usher shall not be at liberty to hold or exercise any other office or employment, which, in the opinion of the Court of the Merchant Taylors' Company, may interfere with the proper discharge of his duties in connection with the school. In consideration of the services of Mr. Ritson, as Usher, there shall be paid to him the further sum of 20l. per annum.

Third.

The number of boys to be admitted into the school shall, for the present, be limited to 70, of whom not exceeding 28 shall be called "Harrison's Scholars." No boy shall be qualified to be a "Harrison's Scholar" unless his parents or guardians shall be resident within the parish of Sephton, and, if at any time there shall be more applicants than vacancies, a preference shall be shown to those boys whose parents or guardians shall be resident within the township of Great Crosby. As regards other boys, the school shall be open to all whose parents or guardians shall desire to avail themselves of its benefits, but, whenever there shall be more applicants than vacancies, a preference shall be shown, in the first instance, to those whose parents or guardians shall be resident within the township of Great Crosby, and, in the next, to those whose parents or guardians shall be resident within the other portions of the parish of Sephton. No boy shall be admitted into the school either as a "Harrison's Scholar" or otherwise, who shall be under the age of eight years, nor unless he can read and write competently, and no boy shall be permitted to remain in the school after he shall have completed the age of 17 years.

All applications for admission into the school shall be made to the Master, and shall be upon printed forms, which shall be issued by the Master to such persons as shall apply for the same. The applications for admission shall be submitted by the Master to the Visitors, and shall be dealt with by them as hereinafter provided.

All boys admitted into the school shall, during their continuance therein, conform to the rules and regulations for the time being in force, and any boy who shall wilfully act contrary to such rules and regulations shall be liable to expulsion.

Fourth.

The Master shall keep a register of all the boys who for the time being shall be taught in the school; such register shall show the names and residences of the boys, the names and occupations of their parents or guardians, the dates of their admission and their ages at the time of admission.

Fifth.

The ordinary course of education in the school, shall com prise instruction in the Christian religion, in the English, Greek, and Latin languages and literature, and in writing, arithmetic, mathematics, geography, and history. Such education shall be afforded to the "Harrison's Scholars" without fee or reward, but for each of the other boys there shall be paid to the Master, to be accounted for by him to the Court of the Merchant Taylors' Company, the quarterly sum of 25s., payable in advance. Each boy not being a "Harrison's Scholar" shall pay an entrance fee of one guinea, which shall be applied, under the direction of the Court of the Merchant Taylors' Company, in support of the school library.

Sixth.

There shall also be taught to those boys, whose parents and guardians desire the same, but subject to separate charge, the French language and drawing, and such other subjects as the Court of the Merchant Taylors Company shall from time to time direct. The arrangements as to such further instruction shall be made by the Master, subject to the approval of the Court.

Seventh.

The religious instruction to be afforded in the school shall, as regards all the "Harrison's Scholars," and as regards all such other boys, whose parents or guardians shall not express their conscientious objections thereto in writing, be in accordance with the doctrines and discipline of the United Church of England and Ireland, The "Harrison's Scholars" unless prevented by illness or other reasonable cause, to be judged of by the Master, shall assemble in the school-room every Sunday morning, shortly before the commencement of divine service at Great Crosby Church, and shall proceed thence to Church, and, at the conclusion of the service, shall return to the school-room and shall be there dismissed; in their progress to and return from Church, and during their attendance thereat, they shall be accompanied by the Usher, but the Master shall be responsible for the due observance of this rule.

Eighth.

The Court of the Merchant Taylors' Company will expend such sum, not exceeding the sum of 20l. per annum, as shall appear to them necessary, in the purchase of books and stationery for the use of the school.

The Court will also expend such sum, not exceeding the sum of 10l. per annum, as shall appear to them necessary, in the purchase of books for prizes and rewards.

Ninth.

The quarterages which shall be received by the Master in respect of the ordinary education in the school, shall be applied as follows, viz., two equal fourth-parts thereof shall be retained by him for his own use, one other fourth-part thereof shall be paid by him to the usher, and the remaining fourth-part thereof shall be applied as the Court of the Merchant Taylors' Company shall, from time to time, direct for the benefit of the school.

Tenth.

The boys shall be examined half-yearly in the months of June and December; the examiners shall be from time to time appointed by the Court of the Merchant Taylors' Company, and shall hold their offices during the pleasure of the Court. Immediately after each examination, the examiner shall report the result thereof to the Court, and shall receive for the same the sum of 5l. For the present, the Master shall be the examiner at the December examinations.

Eleventh.

The school vacations shall be at Midsummer and Christmas; the former shall commence on the 21st day of June, and last five weeks, and the latter shall commence on the 21st day of December, and last four weeks; the following days shall also be observed as holidays, viz., the Queen's birthday, Easter Eve and Easter Monday, the 15th of May, (being the birthday of John Harrison, the founder of the school,) the 29th September, and the 9th of November; in the event of any of the aforesaid days being a Sunday the holiday shall be kept on the Monday following.

Twelfth.

There shall be a local visitation of the school by Visitors appointed by the Court of the Merchant Taylors' Company. The Visitors shall decide upon all applications for admission into the school, but, in so deciding, shall have regard to the rules herein-before contained. They shall also have power to expel any boy from the school for misconduct, but any such expulsion may be made the subject of appeal to the Court by the parents or guardians of the boy so expelled.

Thirteenth.

The Master, with the concurrence of the Visitors, may make such rules for the internal regulation of the school as he shall deem necessary or expedient; but such rules shall be of no force until approved by the Court of the Merchant Taylors' Company. The Court will also from time to time make such additions to or alterations in the rules for the internal regulation of the school as they may think fit. Copies of the rules for the time being in force, shall be affixed to the walls of the school-room in conspicuous places, and a copy thereof shall also be given to the parents or guardians of every boy upon his admission into the school.

Fourteenth.

The several rules and regulations herein-before contained are liable to be varied by the Court of the Merchant Taylors' Company as they may think fit.

By Order of Court of the 2nd May, 1861.

Samuel Fisher, Clerk to the Merchant Taylors' Company.