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City of London Livery Companies' Commission: Report and Appendix, Volume 4 online

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in trust in the cause, and that the college should sell
the sum of 1002. 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 pur-
chase of baoik 3 x>er cent, annuities.

And it was ordered that of the aggregate amoimt 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 5,8242. 12^. 4J. 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 taoEation 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 m
providing four exhibitions, to be called the "Parkin
Exhibitions," fcur 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 regolations in regard to residence or otherwise as
the Company should from time to time establish.

The college in 1855, in addition to the stock trans-
ferred to the account of the cause, paid the sum of cash
of 184L 145. 9d.

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

The Company provide four exhibitions for scholars of
the Merchant Taylors at Pembroke College of 601. a
year. The cash paid over by the college has hitherto
provided the deficiency between the amount of the



dividend and the 2Q0L, and this deficiency, I am in-
formed, it is the design of the Company to make up
from their own funds when the oaab balance is ex-
hausted.

Parey's Chakity.

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

(See Elwes' Charity.)

M. Pabson's Charity.

Margaret Parsons, by deed of the 10th Beoemoer,
5th Elizabeth (1562), granted to the Company an
annuity of 4Z. issuing out of a tenement in St. Chnstopher,
Comhill, to pay : —

£ 8. d.
To the Parish of St. Michael 2O0., and St

Christopher 10«. - - - 1 10

To 13 poor Merchant Tailors 12d. a-

piece - - - - . 13

To 4 poor maidens* marriages, &c., Ts. Qd,

each - - - . - 1 10

To the clerk 5^., and to the beadle 28, - 7



The Company having received the value of this rent-
charge from the Bank of England, on the removal of the
property for the construction of that edifice, pay 42. a
year, as follows : —

£ 6. d.
To the churchwardens of St. Michael,

Comhill - . - - 1
To the churchwardens of St. Christopher-

le 10

To the poor account of the Company - 13

To the officers of the Company - - 7



£2 10



The remaining 30^. a year, to be given to poor maadens*
servants, or children of Merchant Tailors, in sums O'
78, 6d.y has not been distributed for three or four years
there is a balance of 6^ IO0. in hand.

Sj£ John PsBavAL's ahj> Dame Thohasine Peboival's
Chabhees.

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

Dome 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
husbieuid. Sir John Percival, and also to pay —

To the churchwardens of St. Mary Woolnoth Ss. Od,

And to five poor householders bd. weekly - 21«. 8i.

The Company are in possession of the property charged
by these wills, and pay a sum of dL Ids. Sd. annually to
the churchwajxlens of St. Mary Woolnoth, upon their
receipt.

Pitt's Charity.

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

There is no specific investment of the 3002. The
Company pay 12/. 128, a year (guineas instead of pounds)
for SIX yearly pensions of 2L 26, each, to poor widows of
members of the Company.

Wm. PribstiiY's Chabity.

William Priestly, by his will of the 2nd May 1620,
gave to the Company 2502., on trust to maint>ain eight
poor men, allowing them IZ. 6«. Sd, a year each, four of
tiie Company, and four of the parish of Homsey.

The Company diarge themselves with the annual pay-
ment of 102. Ids, 4d,, being the sum directed by the will,
and also with a further sum of 3^ Is, 4d,, making up

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CITY or LONDON LIVERY COMPANIES COMMISSION:



together Idt, lis. ScL The four pencdons to the poor
freemen of the Company they have raised to 21 2$. each,
and the fonr pensions to the poor men of Homsey
remain at 11. 6«. Sd. each. The poor men at Homsey
are chosen by the parishioners in yestry, and the
nomination is accepted by the Oompany. The Com-
pany pay the amount to the churchwarden for his
distribution.

Pbootob*s Chabity.

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

£8. d.
Nine poor brethren 10«. each - - 4 10

To the clerk 6«. Sd., to the beadle 3*. 4d. 10

The Company pay 5Z. per annum, of which U. 10^.
goes to the poor account, and the residue to the
officers.

Damb Maby Bamsay's Chabity.

Dame Maiy Bamsay, by her will of the 8th July 1601,
gave to the Company 2002., to be lent at 6 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 two-
eighths of 27^, which had been received from the
executrix of one of the sureties of Mr. C. K. Thompson,
for two years' interest on dOOl, lent to him under the
scheme, at 4i per cent.

This amount, being 6Z. 15^., was carried to the poor
account.

Rbnneck's Chabity.

Edward Eenneck, by his will in 1656, gave to the
Company lOOZ., to be lent out to two young men, they
paying each 20ff. 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, 3Z. Is. 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.

Sib Abbaham Beynabdsoi^'s Chabity.

Sir Abraham Beynardson, by his will of the 10th May
1661, gave to the Company 800Z., to pay 16/. a year, is-
suing out of a house in Comhill, to six poor men and
six poor women of the Company.



The Company pay 162. a year, in pensions of 11 68. Sd.
each, to six poor freemen and six poor widows of free-
men annually.



Bichabds* Chabity.

Henry Bichards, by his will of the 29th January 1674,
gave to the Company 500^, to be lent to young men of
file 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 abbaal
interest received. .

Thus in the year 1861, the Charity received credit for
the sum of 162. 17«. 6J. for two years* interest due on the
300Z. lent to C. K. Thompson, at 4i per cent., which was
paid by the executors of the surety.

There is a class of 10 pensions of 22. 28. a year each,
to poor women, widows, &o., 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 ac-
count of the Company.

T. BoBBBTs' Chabity.

Thomas Boberts, by his will of the 14th April 1824,
g^ve to the Company 2,000L consols (or South Sea an-
nidties) 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 2,0002. old South Sea annuities, and
has since been paid off. The Company made up the sum
received in respect of this stock to 2,0002., which was
afterwards invested in 2,1082. 0«. 9d., 3i>er cent, consols,
producing annually 632. 49. 9d. The Company pay the
dividends to the almshouse account.



Sib Thomas Bowb's Chabity.

Sir Thomas Bowe, by his will of the 11th August 1565,
gave to the Company all his messuages and heredita-
ments in London, to distribute 402. a year among 10
poor freemen of the Companies of Cloth workers. Car-
penters, Tilers, Plasterers, and Armourers.

And by deed of the 4th June 1569, he gave 1002. to be
lent to poor housekeepers of the Company. .

The Company hold property in Thames Street, under
the above devise, and apply 402. a year, in pensions of
42. 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 1002. forms part of tiie fund dealt
with, and reported on, under the head of Loan
Charities.*



* Chabut of Thomas Bowe.

By an Order of the Board, dated 28th August 1860, a
messuage known as No. 32, Great St. Helens, held by
the Company under this devise, was let on lease for 80
years from Lady-day, 1860, at 1802. a year.

With a view to the widening of Dowgate Hill, a strip of
land on the west side belonging to the Company was, by
an Order of the Board of 9th May 1865, aufiiorisedto be
sold to the Charing Cross Bailway Company for the
sum of 4002., which was invested in the purchase of
4512. 19«. 6c2. consols, in the name of the Official Trus-
tees of Charitable Fiinds.

In 1869 the Company were further authorised to sell
for the sum of 2,7002. another strip of land on the west
side of Dowgate Hill to be dedicated to the public.
This sum was invested in the purchase of 2,899 6^. 7d.
consols, in the name of ** The Official Trustees of Chari-
table Funds."

A small piece of land adjoining property belonging to
the Company in Dowgate Hill having been conveyed to
the Company for a nominal consideration, this piece of
land was included in a lease of Nos. 14, 15, and 16, Dow-
gate Hill, to Mr. John King, for 80 years from Lady-
day 1866, at a rent of 7002. a year, sudi lease being
confirmed by an Order of the Board, dated 9th January
1872.

By an Order of the Board, dated the 3rd June 1870,
the Company were authorised to enter into an agreement
with Messrs. Kennard for the grant of a lease of part of



the estate held by the Company under this devise, being
part of No. 67, Upi>er Thames Street (consisting of part
of wharf and warehouses), for the term of 70 years fiom
Lady-day 1869, at a rent of 7382. 5«., a sum of 13,1502.
to be expended in rebuilding.

Li pursuance of the terms of such agreement, and pre-
liminary to the grant of the lease in question, the Com-
pany were authorised by a further Order, dated 5th July
1870, to purchase for the sum of 1,1002., in trust for the
Charity, a piece of freehold ground, situate on the east
side of Bull Wharf Lane, Upper Thames Street, con-
taining 728 square feet or thereabouts, belonging to
Messrs. Kennard.

By an Order of the Board, dated 20th July 1870, the
Company were authorised to grant the lease of the pro-
perty above mentioned, and on the terms mentioned, to
include the land purchased from Messrs. Kennard.

The sum of 1,1002., and costs attending the purchase,
amounting to 412. 88. lOd, was provided by the sale of
1,2752. 7^. Id. consols in the name of the official
trustees.

The amount now (1882) held by the official trustees in
trust for the Charity is 2,0752. 19^. consols.

By an Order of the Board, dated 12th December 1872,
a parcel of land situate between land belonging to the
Company and Dowgate Hill, comprising 45 square feet
or thereabouts, was vested in *'The Official Trustee of
Charity Lands."



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MR. lUUKS HEPOUT.— MEUCHANT TAYLOUS* COMPANY.



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Siikpham's Chakity.

Richard Sliepham, by his will of the 20th July 1604,
gave to the- Company lOOZ. to be lent to four poor young
men.

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

The interest on this latter sum, amounting to 21. 10«.
a year, is carried to the almshouse account. The lOOZ.
first mentioned forms part of the loan charities, and is
deidt with under that s<£eme. There is no interest from
the loan.

Solly's Cuabity.

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

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 13Z. a year.

The tombstone of the testatrix is situated in Bunhill
Fields, and in the year 1861 the sum of 6^. 11«. Sd. was
expended in its repair.

There had been no expenditure from 1850 to 1861 ,

The residue is paid to the poor account of ttie Oom-
pany.

Spencbe*s Ouabity.

Nicholas Spencer, by will of the 8rd July 1597, de-
vised to the Oompany a messuage and shop in Little St.
Thomas the Apostle, upon condition to pay 628. a year
to Doddington parish, in the Isle of Ely, and 3Z. 13». Sd.
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 Oompany pay 21, 12«. a year
to the churchwardens of Doddington, and 3L 13«. Sd. to
the churchwardens of St. Thomas the Apostle, upon their
several receipts.

Chabities op Stint, Rawtuoknb, Lane, and Lee.

In the year 1638, — Stint, Jeremy Rawthome, William
Lane, and Walter Lee, gave to the Company 50^ a-
piece, to pay yearly 121. to 24 poor aged brethren.

The Company pay 121. a year, representing the interest
of 200L, which they carry to the poor account.

(See Elwes* Charity.)



STtiAKT*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 2,5007. for
her to enjoy all the interest of the said sum during her
life, and aiter the decease of his said wife (in case he
should die childless), the said sum of 2,500/. 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 1,2502. (being one moiety of the before men-
tioned 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 ,tho said school,
and the heads and fellows of the said two colleges re-
spectively, 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

J ret lost the election for no fault in morals or defect in
earning, 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
a 14546.



profits annually arising out of that 1,2502. 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
collego required of scholars, bachelors, and masters of
arts. The other 1,250/. which I have given in trust to
the Head Master of the Merchant Taylors' School afore-
said, 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 1,2507, 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 Cam-
bridge, the payment of the interest of each of the said
sums of 1,250Z. shall be discontinued to them respect-
ively, and as often as it shall happen that there sludl be
no scholar in Merchant Taylors' school actually superan-
nuated 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 bo obliged to
add it to that 1,2502. 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 abo^e 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 direc-
tions 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 Pem-
broke Hall, Cambridge, aU 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 eflect, 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 3,0362. 17«. 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. Attorney-
General," 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 ali
parties their costs. And it was ordered that so much
of the 3,036^. lis. bank 3 per cent, annuities, when so
transferred as therein- before directed, as would be suffi-
cient to raise the amount of such costs when taxed, be
sold witli the privity of the said Accountant-General, and

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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 eqnal seventh parts of the resi-
due of the said 3,036Z. 17s. bank 3 per cent, annuities
which should remain after the sale therein-before direc-
ted, 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 Pem-
broke College, Cambridge," and the said Accountant-
General was to declare the trust thereof accordingly,
subject to the further order of this court. And it was
ordered tiiat the said two sevenths of the said dividends
and the dividends to accrue due on the bank annui-
ties 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
scholarslup 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 regu-
lations 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 vended by affidavit, and five seveath 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 universiiy 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 e]sdiibition to
be enjoyed for such term, not exceeding four years respec-
tively, 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 fratemily
should from time to time establisli, but no such exhi-
bition should be enjoyed by any scholar who should have



Online LibraryGreat Britain Great Britain. London livery companies commissionCity of London Livery Companies' Commission: Report and Appendix, Volume 4 → online text (page 109 of 169)