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

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monalty and their successors, or the m^jor part of them, at
a court of assistants of the said mistery assembled, offer-
ing to lend out t^e same pursuant to the terms aforesaid,
and notice thereof in writinff shall also be put up in some
conspicuous part of the hall or premises of the said
mistery.

7th. That a separate account be kept by the said wardens
and commonalty and their successors or their clerk, in which
shall be entered an account of all the loan monies included
in the pleadings of this cause; and in which also shall be
entered the names and residences of the respective borrowov
and their sureties, with their respective profession or buri-
ness, the sums lent, the times of making tiie loans, and
when payable, with the interest thereon, and the terms for
which such loans were lent, and such further and other par-
ticulars as may by the said court of assistants be thought
material or necessary.

8th. That in case the said wardens and commonalty or
their successors should have anv large sum of the aforesaid
loan monies standing in the hands of their bankers for
want of borrowers, it shall be lawful for them in their dis-
cretion to invest the same or any part thereof in the pur-
chase of 3/. per cent. Consolidated Bank Annuities, and
there to retain and keep the same until they have applica-
tions or application for the loan thereof or of any part
thereof, and then to sell the same, and with the fwodnce
make the loan upon the terms aforesaid.

9th. That the interest to arise from the said charity funds,
whether the same consists of the interest on such loans su
to be made as aforesaid or of the intere^it on such invest-
ments as lastly therein-before mentioned, or partly of the
interest on such loans and partly of the interest on such
investtnent, shall be applied first towards payment of the



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MR. BABES REPORT. — ^FISHMOKGERS' OOMPANT,



267



said sum of 73/. 45. 6d. in the several sums, and in the
manner herein-before mentioned, and in the next place
towards defraying all costs, charges, and expenses which
the said wardens and commonalty and their successors
shall have paid or incurred, or may hereafter pay or incur,
in and about the management of any of the aforesaid
matters and incidental to the carrying of this scheme into
effect whether they are law proceeaings or otherwise, other
than the costs, charges, ana expenses properly chargeable
to the borrowers of the said loans in the manner herein-
before specified, and the balance, if an^, shall be paid to
the poor men and women of the said mistery, as the
wardens and commonalty and their successors, at a court
of assistants, or the majority of them, shall think proper.

10th and last. That the said wardens and commonalty
and their successors, and the estates of the said mistery
shall not be liable to make good any loss that may arise
from the failure of the borrowers of the whole or any por-
tion of the said loan monies or their sureties, or from the
failure of the said wardens and commonalty, or in, by, or
through any such investment or investments as aforesaid.
Or in any other manner, unless such loss shall arise from
the wilful default or neglect of the said defendants.

And the master certified that upon consideration of the
said scheme and of the several matters aforesaid he found
that, except as therein-before mentioned, the said 34 several
sums of 1603., 1003., lOOZ., 120L, 403., 1003., 1333. 6«. Sd.,
1003., 803., 663. 13*. 4d,, 2003., 2003., 2003., 1003., 603.,
1003., 203., 503., 203., 203., 1003., 203., 403., 203. 403. 203.,
603., 663. \3s. 4rf., 403., 263., 4003., 1003., 203., and 203.,
could not then be applied according to the directions con-
tained in the said several wills or instruments of the said
donors thereof, and the master settled and approved of the
said schemers a proper scheme for the application of the
said several sums in such manner as would be most bene-
ficial for the poor members of the 'said Fishmongers' Com-
§any, and as would be most nearly in accordance with the
irections contained in the said several wills and instru-
ments, except that he was of opinion that the sums of
money in wnich the said funds were to be lent by the said
court of assistants should not exceed the sum of 200/.,
instead of 300/., as proposed by the said defendants. All
which he humbly certified and submitted to the honourable
court.

The case came before the court for further directions
on the 10th day of August 1841, when it was ordered that
it be referred to the master to tax all parties their costs
of the information, as between solicitor and client, and
that the same when taxed be paid out of the sum of
2,9113. 138, 4c3. in the hands of the said defendants; and
that what should remain of the said sum of 2,91 13. 13^. 4c3.
be set apart by the said defendants ; and that an account
thereof be opened in the book of the said Company to be
entitled the " Trust Loan Account ;*' and it was ordered that
the defendants by their court of assistants were to be at
liberty and required to lend out to any of the poor
members of the said Company, who should apply for the
same, sums not below 60/. and not exceeding 200/., for any
time not exceeding four years, according to the discretion
of the, said court of assistants, at interest after the rate of
31. per cent, per annum, upon the said poor members who
should apply for the same giving such security for the
repayment thereof as should be deemed satisfactory by the
said court of assistants; and that the interest arising
from the said loans was to be applied by the defendants,
the said wardens and commonalty and their successors,
annually, in the first instance, and as far as the same
would extend, in the payment of the sum of 733. 4s, 6d,
to the persons and objects and in the manner specified in
the scheme herein-before set forth as contained in the
master's report; and the court thereby ordered that in
case the said wardens and commonalty and their
successors should not be able to pay the said sum of
733. 4$, 6d., or any part thereof, away annually as therein-
before directed, by reason of the failure of the objects
therein-before specified, or of any one or more of them to
receive the same, then the said 733. 4s. 6d., or such
part thereof as should remain in their hands or possession
unapplied as aforesaid, was to be paid and applied by the
said defendants towards the aid, and support, and relief
of any of the poor members of the said Fishmongers'
Company, in such sums, and in such manner, as they the
said wardens and commonalty and successors at a court
of assistants of the said mystery or a majority there
present should deem proper; and after payment of the
said sum of 73/. 4;. 6d, the said interest was to be applied
in the next place towards defraying all costs, and charges,
and expenses which the said wardens and commonalty
and their successors should have paid or incurred, or
might thereafter pay or incur, in and about the manage-
ment of any of the aforesaid matters and incidental to the
A 14546.



carrying thereof into effect, whether they were law proceed-
ings or otherwise, other tban the costs, charges, and
expenses properly chargeable to the borrowers of the said
loans, in the manner herein-after specified, and the balance,
if any, was to be paid to the poor men and women of the
said mystery as tne said wardens and commonalty and
their successors at a court of assistants should think
proper ; and it was declared that such portion of the said
principal sum which at any time should not be out on
loan, or should not be required for that purpose, and
which would otherwise be in the possession of the said
defendants and their successors, was to be paid by them
into the hands of the bankers of the said wardens and
commonalty for the time being to an account in their
books entitled " The Worshipful Company of Fishmongers*
Trust Loan Monies," there to be and remain until applica-
tion or appL' cations be from time to time made to the said
wardens and commonalty, at a court of assistants, for the
loan thereof or some part thereof; provided, however, that
the said defendants were to be at liberty as their discretion
to invest the same, or any part thereof in the purchase of
33. per cent. Consolidated Bank Annuities ; provided also,
that the dividends to arise from such sums so to be in-
vested should be applied in like manner as the interest to
be paid by the borrowers of the said sums; and it was
declared that upon every such application or applications
being made the said wardens and commonalty, at such
court of assistants, should in their discretion determine
whether or not the same was or were fit to be complied
with, and if the same should be complied with, the said
wardens and commonalty and their successors at such
court of assistants were to be at liberty to direct a
warrant or check to be issued to such their banker,
for the time being, to pay so much of the said loan monies
to the bearer as should be expressed or mentioned in the
said warrant or check, or to sell out and apply so much
of the said 3/. per cent. Bank Annuities so invested as
aforesaid as might be necessary for that purpose ; provided,
however, that the sureties of such borrowers be approved
of by the said defendants and their successors, the wardens
and commonalty for the time being of the said mystery at
a court of assistants, and entered in the book or books of
the said mystery from time to time, and that the said
borrowers and their sureties be respectively required to
execute a joint and sealed bond or note of hand as by such
resolution should be directed to the defendants and their
successors, the conditions of such bonds or the terms of
such notes of hand to be in the form or substance follow-
ing : namely, that the borrowers with such sureties should
jointly aQd severally bind themselves, their heirs, executors,
and administrators, to the said defendants and their suc-
cessors in a penal sum, therein to be named, to pay to
them the saia defendants or their certain attorney at ^h-
mongers' Hall, in the City of London, the sum borrowed,
with interest after the rate of 3/. per cent, per annum,
eather in one sum or by instalments, to be therein stated,
on a certain day or certain days to be therein named, and
in default of payment of the said sum and interest or any
instalment thereof on the days and times therein-before
mentioned, then the said defendants and their successors
to be at liberty to sue forthwith for the whole sum remain-
ing due. And it was declared that the clerk for the time
being of the said wardens and commonalty and their suc-
cessors should be at liberty to charge the borrowers respec-
tively for the stamps and for the other reasonable costs
attendant upon such loans. And it was declared that
when any portion of the said principal monies aforesaid
should be in the possession of the said defendants and
their successors to be lent out, advertisements were to bo
inserted twice at the least in every year in two or more of
the daily newspapers at the discretion of the said defen-
dants and their successors, at a court of assistants of the
said mystery assembled, offering to lend out the same pur-
suant to the terms aforesaid, and notice thereof in writing
should also be put up in some conspicuous place of
the hall or premises of the said mystery. And the said
wardens and commonalty and their successors or their
clerk were to keep a separate account of such loans and of
the expenses relating thereto in the books of the Company,
in which was to be entered an account of all the loan
monies included in the pleadings of the cause, and in which
also was to be entered the names and residences of the
respective borrowers and their sureties with their respective
professions or businesses, the sums lent, the times of
making the loans and when payable, with the interest
thereon, and the terms for which such loans were lent ; and
also the costs charged against the borrowers on each loan,
and such further and other particulars as might by the
said court of assistants be thought material or necessary.
And it was declared that the said wardens and commonalty
and their successors and the estates of the said mystery

Kk



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258



CITY OF LONDON LIVERY COAfPANIES COMMISSION:



were not to be held liable to make good any loss that mif^rht
arise by reason of the failure of the borrowers of the whole
or any portion of the said loan monies or their securities^
or from the failure of the bankers of the said wardens and
commonalty, or in, by, or through any such investment or
instalments as aforesaid, or in any other manner, unless
such loss should arise from the wilful default or neglect of
the said defendants.



The total fund in the loan account is declared in the
suit to be 2,911/. 13s. 4d., out of this the costs were ordered
to be paid. Vhe costs were taxed at 6191. 13^. 5d., which
left 2,291/. 195. llrf. The sum has been lent out in con-
formity with the scheme from time to time in sums vamng
from bOl. to 200/., at 3/. per cent, per annum. The fund
at present (January 1861) out on loan is 1,436/. 17*. 10c/.
to nine different persons, all members of the Company.
The money is lent on bonds with two sureties, but in some
cases seciu*ity on property has been taken. The loans are
for the most part of the larger sum. The balance of the
fund, which nas not been applied for or taken upon the
conditions required pursuant to an order of the court of
the Company of the 8th May 1845, is deposited in the
London Joint Stock Bank, and at the present time (14th
January 1861) amounts to 855/. 2^?. \d. The bank allows
interest as upon deposit accounts, which varies ; it is now
5/. per cent.

It has been the habit to insert advertisements annually
in July according to the decree, but the court of the Com-
pany have recently directed that such advertisements be
inserted four times a year.

The existence of a fund for loans to freemen is made
known by being suspended on the notice board in the
entrance hall. The Company have lately considered the
practicability of devising means for rendering the loan
monies more useful. The loans are made for the term of
four years.

The interest is placed to a ** Loan Monies Interest Ac-
count,'* and the interest is then appropriated to the several
objects expressed in the decree. A copy of the account is
annually laid before the Commissioners of Charities with
the other accounts of the Company.

The specific application of the interest of each portion of
the fund is mentioned under the head of each of the several
charities in this report.



Martyne's Charity.

James Martyne, by his will (date unknown), gave to the
poor of the Company 50/., to remain in the Company's
nands as stuck to distribute 50^. yearly to their poor at
Christmas. This is annually given to the "Half-yearly
Poor." (See Trumball's Charity.)



MouGEHAM*s Charity.

John Mougeham, by his will of the 20th May 1514,
directed his executrix to purchase lands of the yearly value
of 50s. to the use of the Company for making certain pay-
ments at the celebration of his obit in the church of St.
Mary at Hill, London.

In a book recording the benefactions entrusted to this
Company, and prepared by a committee some years back,
there is the following note on this bequest.

" Premises in Salutation Alley, St. Mary's at Hill,

sold in 1551 for 120/., see paper entitled,
** * Rents of Fishmongers' (Company given to super-
stitious uses,'
" To pay 3s. to the parish of St. Mary at Hill, and
10*. to the wardens."
The sum of 3*. a year is paid to the churchwardens of St.
Mary at Hill. I have perused the ancient copy of the will of
the testator in the book of records of the Company, and I find
a detailed direction for the singing the mass at the obit or
anniversarv of the testator's death, but I am not able to
ascertain the principle or manner in which this gift came
to be commuted into a payment of 35. a year to the church-
wardens. It may probably be in performance of that part
of the gift which directed a certain distribution of bread
and ale at the anniversary. A rentcharge of 20*. for sus-
taining the anniversary of the testator arising out of the
messuage in " Salvation Alley," was granted to Hynde
and others as trustees for the Company by the letters
patent of Edward VI., a copy of which is appended to this
report.

Mowse's Charity.

Arthur Mowse granted to the Company, by indenture of
the Ist June 1638, all those four messuages in Do-Little



Lane, St. Mary Magdalen parish, out of the rents to pay
as follows : —

£ s. d.
To the poor of St. Peter's Hospital, 9«. 2d.
a week (except the first Sunday in the
month) - - - - -18 68

To the churchwardens of St. Michael,
Crooked Lane, for bread to 12 poor
people - - - - -2 12

To poor prisoners in the King's Bench,
Marshalsea, and White Lion, every Sab-
bath day in clear Lent - - - 2
To the renter-warden - - - 10
The property consists of a warehouse in Knightrider
Court, let to a Mr. George Bowles for 21 years, from
Michaelmas 1841, at 25/. per annum. The St. Peter's
Hospital account is credited with 19/. \\s. 2d. in respect of
the 95. 2d. a week for 40 weeks (18/. 6*. 8rf.) directed by
the will to be given to the inmates, and a proportion of the
residue.

The churchwardens of St. Michael, Crooked Lane,
receive 21. \2s. a year, together with 3*. 5c?. as their pro-
portion of the residue.

The prisoners in the three prisons receive for each prison
135. 4c/., according to the will, and \\d. to each as their
proportion of the residue. The Marshalsea and Queen's
Bench are paid to Mr. Colville, and the other to Mr. Keene
for the Surrey County Gaol. The renter-warden receives
his IO5., and Sd. for his proportion of the residue. The
whole of the rent is thus disposed of annually, leaving no
balance in hand.

£ 5. d.
St. Peter's Hospital - - - 19 11 2

St. Michael, Crooked Lane - - 2 15 6

Poor prisoners - - - - 2 2 9

Renter- warden - - - -0108



£2b



Owen's Charity.

. John Owen, by an indenture of the 28th April 1676,
gave to the Company 270/. for the several uses following :—

£ s. d.
To the master of the free school at Bamet 3
Towards the reparation of that school - 3 0.
For the reparation of the physic well - 10

To the poor of the parish, in bread • - 2 12
To six poor almsfolk in Jesus Hospital and

the almshouses at Harrietsham, Kent - 2
To the clerk of the Company - - 8

The sum of 12/. a year is appropriated annually as
follows :

The sum of 9/. 125. is paid to Mr. James Hill, the ta'ea-
surer of the Barnet Grammar School, under the proviso of
a second deed of the 23rd May 1677, in which the donor
declared that* if the physic well should be obstructed or be
disused, the gift for that object should go to the school.
(See printed reports vol. 12, p. 125.) Mr. Hill informed
me by letter that 21. I2s. is expended in bread and given
to the poor every alternate Sunday at Bamet Church, and
the remainder is applied in aid of the payment to the master
of the school for teaching eight boys on the foundation,
and for the repairs of the school and the physic weU. II.
is carried to the credit of the Bray Hospital, and 1/. to the
Harrietsham almshouses, and 85.,^the remainder, is given to
the clerk of the Company.

Owfield's Charity.

Roger Owfield, by his will of the 26th November 1668,
gave to the Company 50/. to be lent forth to two young
men of the Company freely. This was to be lent without
interest, and it now forms part of the Trust Loan Fund.
No interest is credited.

Palley's Charity.
Thomas Palley, by his will of the 22iid October 1558,
durected his executors to deliver to the said Company 50/.,
to be yearly delivered unto five honest young men of
the Company, and to occupy the said 50/. each of them
10/. for their advantage, they and every of them putting
in sufficient pawn of good security for the repayment of
the money at the year's end, and then the said money to be
delivered to other five young men of the Company tor one
other year, and so to change every year, so that every
person having the money should not have it again imtd
three years more be past. And he willed that me persons
occupying the money should pay from time to time all
sums of money due to the King or Queen's Mijesty in
that year that any of them should occupy the same money ;
and also the said five persons should amongst them all give



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MR. HARES REPORT, — FISHMONGERS COMPANY,



259



yearly to the wardens towards their dinner 20«. And the
said testator bequeathed to the Company 10^. upon con-
dition that the wardens should be bound under the
common seal to his executors to see the aforesaid dOk to
be bestowed yearly for ever according to the true meaning
of his will, if the law of the realm would sulFer it to con-
tinue so long ; and if they would not be bound so to do,
then he willed that his executors should see the same 50/.
to be put by them to the use above written so long as they
should live, and that before their decease they would set
such order for it might continue for ever if the law of the
realm would suffer it ; and if such order cannot be firmly
made, then he willed that the said 50/. should be bestowed
in making and mending the highways between Rye and
Tonbridge by the oversight of the wardens of the said
Company.

This fund is in the ** Trust Fund Account." The sum
of 1/. is charged to the loan moneys interest, and carried
to the credit of the Company annually.

Pendlbbury's Charity.

Nicholas Pendlebury, by his will (date unknown), gave
to the Coippany 20 marks and the profit thereof, bestowed
yearly in coals and faggots amongst the poor of the Com-
pany. I/, a year forms ^art of the gift to the half-yearly
poor. {See IVumball's Charity.)

St. Peter's Hospital.

Letters patent of King James I., dated the 2nd October
1618, reciting that the wardens and commonalty of the
mystery of Hshmongers had represented that there were
many aged poor and indigent persons, being freemen and
freewomen of the Society, and who were destitute of houses
for dwelling, and of competent means, and for whom the
said wardens and commonalty were willing in some con-
venient measure to provide, and reciting also the gift of
Thomas Hunt, herei^r stated, enabled the incorporation
thereby created and their successors to hold the lands of
Hunt to the value of 20/. a year, and other lands to the
yearly value of 80/. a vear, and to found, erect, and
establish within the parishes of Newington and St. George,
in the county of Surrev, or one of them, one hospital or
almshouse for the abiding, habitation, and relief of such
and so many poor people, men and women, of the Company
of Fishmongers, to be sustained and relieved in the same,
with such other persons and officers as the Company and
their successors should think fit; and the said letters
patent incorporated the wardens and assistants of the
Company and their successors to be governors of the same.

The idmshouses were erected in Newington-Butts, and
remained in that situation until 1851, when in pursuance
of an application to the Court of Chancery, by an informa-
tion instituted, at the instance of the Company, in which
the Company (not the governors of the Hospital) were
defendants, on the 27th March 1849, and of the report of
the master therein of the 20th July 1849, which set forth
the letters patent of 1618, and that the Company purchased
a piece of ground in the parish of Newington and erected
thereon 12 buildings, which were called St. Peter's Hospital,
and also referring to the bequests of Richard Edmonds and
James Hubert, and that out of the trust funds accruing to
the Company under the said will of the last-mentioned donor
20 other almshouses had been built on land belonging to
the Company in Newington, adjoining the Old Hospital.
The report also stated that it had been deposed before the
master that it would be greatly for the benefit of the in-
habitants of the almshouse not to rebuild the same on the
then site, which was close, confined, and unhealthy in con-
sequence of the great increase of buildings in the neigh-
bourhood, but to remove them to a more healthy situation,
and that the Company had lately purchased for the sum of
4,050/. a piece ot ground at East Hill, in the parish of
Wandsworth, and that the same was larger and more open
and elevated than the piece of ground on which the alms-
houses then stood ; ana the master found that the premises



Online LibraryGreat Britain Great Britain. London livery companies commissionCity of London Livery Companies' Commission: Report and Appendix, Volume 4 → online text (page 78 of 169)