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TO THE CHARITY COMMISSIONERS FOR
ENGLAND AND WALES. In pursuance of a minute of the Board of the 1st November 1864, I have inquired into the conditions and circumstances of the following charities under the management of the Plumbers' Company of the City of London, and I have stated in the Report, under the head of each specific endowment, thô result of my investigation.
Nesham’s Charity. The title of this Company is, “ the Master, Wardens, " and Commonalty of the Freemen of the Mystery of “ Plumbing, of the City of London.”
The Company consists of the Master, the Upper and Renter Wardens, and a Court of Assistants, making altogether 12 in number. There are about 40 or 50 liverymen, of whom about 30 are entitled to vote for members of Parliament. The freemen are greater in number.
NORTH'S CHARITY. Samuel North, by his will of the 28th February 1645, after reciting that his deceased wife had bequeathed towards the relief of the poor widows and fatherless children of the freemen of the Company, 40s. a year, gave to the Company a messuage in Bishopsgate Street to pay out of the rents:
£ 8. d. The before-mentioned bequest of his wife 2 0 0 For the use of the Company towards augmentation of the stock
2 0 0 For the further relief of poor widows and fatherless children
2 0 0 For the relief of the poor of St. Mary
Somerset 1s. weekly in bread; 3s. 4d. a
4 0 0 To the poor of Bethlem Hospital
2 0 0 And he gave the rest and overplus of the rent and
profits to the Company as the 21. per annum to thein given was to be applied. This means no doubt the 21. given to augment the Company's stock. The Company is still in possession of the house, which is let at a rent far more than sufficient to pay the charges upon it.
The two payments of 41., deducting 16s. land tax and the property tax, are paid to the churchwardens of St. Mary Somerset, and to the treasurer of Bethlehem Hospital.
The Court of Assistants of the Company at their quarterly courts are attended by a certain number of poor freemen, or generally widows of freemen, to whom a guinea each is given. There have been nearly always six recipients, and sometimes more; they are generally the same people. At the last distribution, on Michael. mas Day, there were only five persons who received the gift. The total distribution in this form is about 251. a year, to which are added casual gifts amounting to about 51. more.
NESHAM'S CHARITY. 6. Robert Nesham, a gentleman still living, and a member of the Court of the Company, on the 23rd November 1843, gave a sum of 951. 78. 6d. to the Company to purchase Government stock, the dividends thereof to be applied to the relief of a decayed liveryman or his widow. In the same year it was invested in 1001. 31. per cent. Reduced annuities in the corporate name of the Company. In September 1858 the same donor gave a further sum of 501. to be added to the former gift, which was invested in the purchase of 511. 58. 5d. like stock, making the total 1511. 1s. 5d. like stock. No deed has been executed declaring the trusts, but the stock stands in the corporate name of the Company, and the purposes to which it is dedicated is stated as above in the court books of the date. The dividends, amounting to 21. 58. 4d. half yearly, are given to the widow of a liveryman. All which I submit to the Board.
Inspector of Charities. 21st Feb. 1865.
ist December 1880.
J. B. Towse, Clerk.
The property charged with the rent is now owned by Mr. George Smith, who resides on it, and who pays the full amount of the rent. It is given to two widows of freemen or liverymen of the Company who are elected as pensioners by the Court. They receive 51. per annum each, by quarterly payments.
By authority of the order of the Board of 31st January 1862, I held after the usual notices a public inquiry into these charities at the Guildhall on Monday 24th February 1862.
At which inquiry several members of the Court of Assistants of the Company attended together with their officers.
The Renter's Warden.
1. Robert Wright's Gift.
ROBERT Smith's Girt (reported, vol. 8, p. 346). Robert Smith, by will, of 1737, gave to the Master, Warden, and Assistants of the Company of Poulterers, and their successors, the sum of 2501. in trust, that they should place the same out at interest, on Government or other good security, and distribute the yearly inte. rest towards the relief and support of such poor freemon of the said Company, or the widows of such freemen, as they in their discretion should think fit.
The sum of 2261. 4s. 11d. is apportioned to this Charity out of the 1,1001. stock before mentioned in my report of Browne's Charity (ante).
The dividends, 6l. 158. 4d., are half-yearly, divided between two pensioners, widows of members or decayed members of the Company.
WRIGHT'S GIFT (reported, p. 346). Robert Wright, by will of 1548, gave a rentcharge of 40s. per annum (which had been previously created) arising ont of lands and houses in Lombard Street, in the parish of Allhallows, to the parson and churchwardens of the said parish and their successors, that out of 208. parcel thereof they should pay to the wardens of his Company of Poulterers the annual rent of 17s. 6d. for the helping and succouring the necessitous of the said Company when they should happen to be called to any charge, and the other 2s. 6d. of the same he gave to the said parson
and churchwardens for their pains, to every of them 6d., and if they should be negligent in performing his desire that the said Company should take the said rentcharge, and if they should in like manner become remiss the said rent should return again to the said parson and churchwardens.
A rentcharge of 17s. 6d. is regularly received by the Renter's Warden of the Company from the church. wardens of Allhallows, Lombard Street. But the officers of the Company do not know upon what lands and houses it is charged.
This is paid to a single pensioner, the widow of a freeman of the Company who is elected by the Court of Assistants.
Pitt's Gift (reported, vol. 8, p. 346). Ozell Pitt, by will (date anknown), gave to the Company of Poulterers 501. 51. per cent. annuities to be pur. chased by his executors and transferred to the Company to be held by them in trust to pay the dividends half-yearly to the six lower pensioners of the Company.
501. Navy 5 per cents. was accordingly transferred to the Company, and remained invested with the like sum belonging to the Company in the same stock from time to time reduced to 3. until March 1831, when this 1001. stock was sold out and produced 871. 28. 6d. On the 6th September 1831 the Company purchased 1001. South Sea Stock for 811. 2s. 6d., which would make the amount belonging to this Charity of that stock, allowing for difference in price, 45l. 11s. 3d. The sum of 45l. 118. 3d. only is therefore now attributed to this Charity out of the before-mentioned in report of Browne's Charity, ante) gross sum of 1,1001. New 3 per cents., belonging to the Company. Dividends in accordance with this amount of stock 1l. 78. 4d. are half-yearly paid to a pensioner, the widow of a freeman.
BROWNE'S GIFT (reported, vol. 8, p. 316). Jonathan Browne, by will, of 1704, gave to this Com. pany 501., to be by them put out to interest, and the produce thereof to be paid to the poor of the said Com. pany by equal portions on each Whitsunday and Christmas day for ever. This money is said to have been invested in September 1725, when the price of 1001. South Sea Stock was 1211. 58. This bequest would answer to the sum of 401. 13s. South Sea Stock at that price.
There is now the sum of 1,1001. New 31. per cent. annuities standing in the names of
The Master, Wardens, and Assistants of Poulter's, London, under charter, 4th May 1692, 6 William and Mary.
of this capital sum 401. 138. is apportioned by the Company to belong to this Charity.
The dividends, nl. 48. 4d., are given half-yearly to a pensioner, the widow of a freeman.
WARDEN'S GIFT. Robert Warden, by will of 1609, gave to this Company a house then known by the sign of the Pepper Quern, in the parish of St. Peter, Cornhill, on condition that they should pay to the parson and churchwardens of that parish yearly 31. 12s., whereof 52s. should be bestowed by 12d. every Sunday in bread. And in case any, freeman of the said Company should inhabit in the said parish and should be needful to be relieved he should have a rateable share.
The residue to be bestowed for two sermons to be preached in the parish church, one on Ash Wednesday and the other on 10th March yearly.
The house is situate at the corner of Cornhill and Bishopsgate Street, and is occupied by Mr. Alderman Carter, chronometer maker, who holds upon a lease for years, which will expire at Michaelmas 1888, at the rent of 1501. per annum, besides a rent in lieu of fire insurance, equivalent to an annual premium upou the insurance of 1,2001. and the duty chargeable upon such premium.
The Company receive the rent and apply out of it the sam of 81. instead of the original amount, viz. :
£ 8. d. To the poor of St. Peter's
3 12 6 To the minister of St. Peter's for sermon 2 2 0 Parish clerk 7s., organist 10s., organ
blower 28., sexton 88., beadle 2s.6d. 1 9 6 Charity children
JAMES SMITH's Gift (reported, vol. 8, p. 346). James Smith, by will, of 1731, gave to the Master, Wardens, and Assistants of the Company of Poulterers, and their successors, a yearly rent of 101., issuing out of certain messuages and landsi n the parish of Potton, in the county of Bedford, oni: ust, that they should, twice in every year, in June and December, for ever, distribute the same towards the relief and support of such poor men free of the said Company, or the widows of such freemen, in such manner and proportion as they in their discretion should think fit.
0 16 0
8 0 0
Nepton's CHARITY (reported, pp. 121 and 347, vol. 8).
By indentures of lease and release of 21st and 22nd of January 1728 Ann Nepton granted to trustees and their heirs certain freehold messuages in or near Dunning's Alley, Bishopsgate Street Without, (which property had been previously charged with th payment of an annuity of 201. per annum for the benefit of the Charity School of St. Leonard, Shoreditch] to the use of herself for life and after her decease to the use of certain other persons for their several lives, and after the decease of the survivor of them TO THE USE of the Master, Wardens, and Commonalty of the Company of Poulterers and their successors for ever in trust to pay an annuity of 4:01. to be annually issuing out of the rents of the said premises to the use of such poor people belonging to the parish of Barking, in the county of Essex, as should be found to be most industrious, and should not receive alms or relief of the said parish. To pay an annuity of the same amount in like manner to the use of the poor of the parish of St. Botolph, Aldgate. To expend 401. in the purchase of a silver cup for the use of the said Company. To expend in an entertainment on the 26th day of January yearly the sum of 31. And to apply the residue one moiety for the relief of poor widows of freemen of the said Company, and the other money in apprenticing the children of poor freemen. At the time of the late Commissioner's report (about 1822) the charity property consisted of a piece of land in Dunhouse Yard, let on a building lease to Thomas Merrett at 401. per annum, upon which he had built 28 houses (estimated annual value 5652.). This lease for 70 years expired the 25th December 1861. Also of four messuages situate in Dunning's Alley then let on an 18 years' lease to David Ramsay, upon covenants to repair and insure, at the annual rent of 901
There was also a sum of 2681. 11s. 6d. in 31. per cent. Consols in the names of four trustees. Annual divi. dends 81. Os. 6d. from all which sources the annual income of the charity was 1631. Os. 6d., whilst the payments specified by the founders amount to 1031.
At this time it appeared to the said Commissioners of Inquiry (as stated in their report of the Poulterers' Company) that there was due to the two parishes of Barking and St. Botolph for annuities, short paid since 1764, the amount of 1,1701., and that the silver cup had never been purchased. The said Commissioners, however, in their subsequent report of this Charity (amongst those of the parish of Barking) state that upon proceedings being accordingly instituted in the Court of Chancery the trusts of Mrs. Nepton's deed were found to be expressed in the following words :
“ To the use and behoof of the Master, Wardens, “ and Commonalty of the Company of Poulterers in the
City of London and their successors for the time
being for ever, in trust, nevertheless, as to the sum “ of 401. to be issuing out of the rents and profits of “ the said messuages, lands, and premises that they do
annually pay and apply the same to and for the use " of such poor people belonging to the parish of
Barking," &c., and in the same words as to the parish of St. Botolph.
Such being the words of the original gift the ViceChancellor declared, by a decree of 9th April 1834, that the said parishes were not entitled to claim any arrears. All parties costs to be taxed and paid out of the stock or cash in hand, and the residue, if any, to be applied by the Company as surplus rents. About the same time the Company purchased the silver cup.
The costs of these Chancery proceedings fell upon the estate and amounted to
£ Relator's costs
142 4 10 Parish of Barking, ditto
20 10 4 Ditto Aldgate, ditto
32 7 11 Ditto Company's, ditto 34 18 6
In this year the two jarishes were only paid 201. each, and the balance against the Charity at the end of the year was 4221. 18. 8d.
1849.--In this year appears the following item :
“ The Company, 18 months interest on 4131. lent as per last account; viz., from July 1848 to January 1850."
In this year the two parishes were also paid 201. each, which amount has been continued down to the year ending March 1861.
In 1850 and 1851 the rental amounted to 1251. 78. 10d.
Since then the application of the fund to charitable purposes has been 601. per annum, and the remainder has been applied in liquidation of the principal and interest on the said loan.
The balance of principal and interest at March 1861 amounted to 81. 6s. 11d., and for the succeeding year (1862) the full amount of annuity 401. to each parish was paid.
The term of Merrett's lease before mentioned expired at Christmas 1861, when 29 houses besides stables came into possession. These tenements are let to yearly and weekly tenants at an aggregate rental of 5901.
The Company's surveyor informed me that they had a considerable claim for dilapidations.
A Miss Ball and a Mr. Morshead were assignees of the lessee when the lease ran out. The substantiality of the latter appears to be questionable.
A great increase of income has accrued to the fund in this year by the expiration of this lease. This happening at about the time when the debt to the Charity is extinguished, raises a suspicion whether the conjuncture might not be the result of calculation, and makes prominent the question whether it would not have been more fair to the two parishes if the Company had spread the repayment of the loan over a greater number of years, including some of the coming years which will yield such a great surplus of income.
Supposing the loan to have been quite regular this consideration would still hold, but when attention is directed to the items by which the deficiency was created (in the account for the year 1848 as aforesaid) the defi. ciency itself seems questionable, and consequently also does the occasion for the loan:
d. In this year is charged "the remarkable
items the solicitors bill for business other
50 17 6 Expenses of the various meetings
7 5 9 And dinner bill of the estate and court 20 10 1
I sought for an explanation of these items as they appeared in the accounts (the two latter for the first time) in a year of extraordinary deficiency and imme. diately before the loan. I transcribe an extract from a letter dated 8th May 1862, of Mr. Sadgrove, the Company's clerk and solicitor, in reply to my queries.
230 1 7
The stock before referred to 2681. 118. 6d. 31. pier cent. consols was sold ont to pay these costs, and realised 2431. 188. 10d.
1835.--At the end of this year the yearly account of the Charity showed a deficiency of 161. 168. 9d.
1836.- In this year the two parishes were paid 301. each in respect of their annuities, and a balance of 51. 178. 11d. remained in favour of the account.
1847.—The payments continued the same, and the accounts continued just the same to the end of this year, when there was a balance of 271. 138. 4d. in favour of the Charity.
NEPTON'S CHARITY. Explanation of Items charged in Account 1848. 1st. The solicitor's bill, and what business P-For various proceedings, by ejectment and otherwise, at common law against a Mr. Samuel Crowder (who ultimately became bankrupt), to recover possession and dilapidations of the four houses held by him on lease in Dunning's Alley. Advertisements to let the houses, numerous meetings, and general matters con. nected with the trust estate. As I cannot lay my hand on the bill the above is, I think, a full epitome of it.
2nd. The meetings and expenses thereof were occasioned by the endeavour to let the premises on a repairing lease.
3rd. As to the dinner bill the Company finding they could not let the premises on a repairing lease thought it better for the Charity that they should be repaired and let to various tenants. In consequence the Company, out of their own moneys, advanced the necessary
funds to do “the repairs, which have since been repaid “ by instalments, and I suppose, at the end of their “ labours, they thought the Committee of the Com
pany entitled to a dinner. From the charge of 201. 108. à deduction of 71. must be made, as a credit I see,
is given for that amount in the trust account containing “ the debit as received from persons who dined and
were not members of the Committee, so that the “ absolute expense of the dinner against the trust was “ 131. 108. I trust these explanations will be considered “ satisfactory.”
In conclusion, I consider that the Company having in the loan transaotions acted both as 'lender and borrower, bad no right so to time the repayment of principal and interest as to concar with the expiration of the lease in 1862, meanwhile paying the parishes only half their annuities (viz. 201. each instead of 401.
each) for the 12 years from 1849 to 1861 both inclusive. And that therefore the Company instead of having all the large surplus income now fallen into hand at their disposal really owe to the two parishes a large proportion of the amount of 2401. short paid, and I consider that they ought to pay increased annuities for a suffi. cient number of years to come to make up an amount such as may have been withheld by them from the two parishes over and above the fair proportion of deficient income to which the parishes were liable. Besides this the Company ought to repay to the Charity the 131. 108. balance of the charge for dinner and the 71. 58. 9d. charged for expenses of the meetings.*
Which I submit, &c.
WILLIAM D. BOASE. 27th November 1862.
* Nepton's CHARITY.—The arrears due to the parishes of Barking, Essex, and St. Botolph, Aldgate, pages 2 et seq.
TO THE CHARITY COMMISSIONERS FOR
ENGLAND AND WALES. In pursnance of a minute of the Board of the 1st of November 1864, I have inquired into the condition and circumstances of the following Charities, under the management of the Poulters' 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 style of the Company is, “The Master, Wardens, “ and Assistants of Poultors of London.”
The Company consists of a Master, Upper and Renter Wardens, and 19 Assistants.
There are about 32 liverymen, exclusive of the Court, and about 65 freemen exclusive of liverymen.
ROBERT Smith's GIFT. Robert Smith by his will of the 22nd February 1737, gave to the Company 2501. to place same ont at interest for the relief of poor freemen, or their widows. This sum is consolidated to form part of the New 31. per cent. Consols standing in the corporate name of the Company. There is no distinct appropriation of any fund as representing the capital fund. In 1739 the 2501. was invested vith other sums in Sonth Sea stock, and produced of such stock 2261. 48. 11d. The Company pay, annually to two pensioners, freemen, or widows of freemen, 1l. 138. 10d. a quarter, or 168. 11d. a piece, making 61. 158. 4d. a year.
WRIGHT'S GIFT. Robert Wright by will of the 16th April 1548, gave a rentcharge of 408. out of houses in Allhallows, Lombard Street, to the parson and churchwardens of that parish, to pay to the Company 178. 6d. for their poor, and 28. 6d. to the parson and churchwardens for their pains. The Company receive 178. 6d annually from the parish officers of Allhallows, and pay the same to one of the pensioners, freemen of the Company. It is distributed with John Brown's Gift, and some gratuities from the voluntary liberality of the Company.
Pitt's GIFT. Ozell Pitt by his will (date not known) gave 501. 51. per cent. annuities to the Company, to pay the divi. dends half-yearly to 6 lower pensioners.
This stock was transferred by Mr. Pitt's executors to the Company, and remained standing with 501. like stock of their own, until the navy 51. per cents. were reduced to 41. per cent. and afterwards to 31. 108. Then it was thought best to sell out the same, and form one fund by adding it to their own South Sea stock. It was accordingly sold in 1831 for 871. 2s. 6d., with which the Company purchased 1001. South Sea stock for 811. 28. 6d. so that the proportion of stock belonging to this Charity was 451. 118. 3d. It now forms part of a larger amount of stock in the New 31. per cents.
The dividend amounts to 11. 88. 6d. and is given to a pensioner in half-yearly payments. The present pensioner is the widow of a freeman.
BROWNE's Gift. Jonathan Browne by his will of the 18th October 1704, gave to the Company 501. to be put out at interest, and paid to the poor of the Company,
This stock now stands invested in New 31. per cents., part of a larger sum standing in the name of the Company. No particular capital sum is appropriated to this Charity, but the Company pay 11. 58. 6d. yearly, by half-yearly payments, to the same pensioner as receives Wright's Gift.
WARDEN'S GIFT. Robert Warden by his will of the 3rd June 1609, gave to the Company a house in St. Peter's, Cornhill, to pay to the parson and churchwardens of that parish 31. 128., viz.:
£ 8. d.
2 12 0 For two sermons on Ash-Wednesday and 10th March
1 0 The house which is at the corner of Cornhill, and Bishopsgate Street is now let on lease to Mr. Abraham Carter, dated 21st February 1849, from the 24th June 1845, for a term of 434 years, expiring at Michaelmas 1888, at a rent of 1501. a year.
The Company pay to the churchwardens of St. Peter's Cornhill 31. 128. 6d. a year (11 08. 6d. being supposed to be given by the Court as their bounty). The sum of Il. 98. 6d. a year is also distributed amongst the parish officers, (clerk, organist, sexton, organ blowers, and beadle) and 168. or 188. to certain charity children in shillings and sixpences. The sum of 21. 28. & year is paid to the rector of the parish for the sermon.
James Smitu's Gift. James Smith by his will of the 21st August 1721, gave to the Company a yearly rent of 101. out of lands in Potton, Bedfordshire, for the relief of
poor freemen, or their widows. The rentcharge is received from the owner of the property, now a Mr. George Smith of Potton, and it is distributed quarterly to two pensioners, being widows of freemen, who receive 1l. 58. each per quarter.
£ 8. d.
20 0 0
429 12 0
Thomas Nepton, by will of the 6th May 1718, gave to the use of the charity school in St. Leonard, Shoreditch, 201. a year out of his messuages, &c. in St. Botolph, Bishopsgate, with a proviso that if the school should thereafter be discontinued, said amount was to be given to the poor of the parish, and he gave to his wife, Ann Nepton, all his property in St. Botolph, Bishopsgate.
By indenture of the 20th January, 1728, Ann Nepton charged said premises with an annuity of 401. for Ann Boswell for life.
By indenture of lease and release of 21st and 22nd January, 1728, between Ann Nepton of the one part, and R. Presgrove and others of the other part, she granted to them the above-mentioned premises to the use of herself for life, remainder to other persons for life, and ultimately to the use of the said Company in trust to pay
£ To the poor of Barking, Essex To the poor of St. Botolph, Aldgate
40 And as to the residue of said rents to apply one moiety to the relief of poor freemen's widows, and the other moiety for placing out apprentice the children of poor freemen.
The disbursements are:-
School of the Parish of St. Leonard,
20 0 0 (It is paid to the Treasurer of the Girls' School). To the Poor of Allballows, Barking,
selected by the Churchwardens, and the money is divided amongst them in sums of about 58.
40 00 To the Poor of St. Botolph, Aldgate,
selected by the Church wardens, in sums of about 8s. each
40 00 Conveyance of the Trustees
1 5 0 The expenses of the entertainment
3 0 0 The maintenance of the tomb at Barking
0 5 0
104 10 0
£16 a year.
263 0 8
The two moieties of the residue are distributable, one amongst widows of freemen of the Company, and the other for the apprenticeship of children of such who should have been freemen of the said Company, and should be objects of Charity, equally share and share alike, so far as such residue should extend.
The moiety is distributed amongst the widows. There are now thirteen who are selected by the Court who receive for
5 The excess of rents of the moiety is added to the pen. sions and distributed equally by way of bonus. Thus, a pensioner of 161. a year receives 261., and of 101. receives 201., and of 51. receives 15l. There is now one widow of an Assistant at 161., five at 101., and eight at 51.
There has not been any apprenticeship within the memory of the present officers. The surplus, since it first arose in 1861, is now about 5001., and an application is now under the consideration of the Board for a new scheme.* (See File No. .) All which I submit to the Board.
Inspector of Charities. 2nd June 1865.
Four stables and dwelling-houses in
Dunning's Alley, let to Mr. John Connor on lease for 21 years from
Christmas 1856 Sɔme of the adjacent premises were
taken in 1863 by the North London Railway City Branch for 3,0001., which was laid out in 3,2871. 138. 5d. 31. per cent. annuities by the Accountant
General of the Court of Chancery Dividend on accumulation of 5981. 31.
per cent. Consols, standing in the name of the trustees of the estate
98 12 7
17 18 9
449 12 0
*THOMAS AND ANN NEPTON'S CHARITY. The case of this Charity was on the 27th November, 1868, certified by the Board of Charity Commissioners to Her Majesty's Attorney General, and by an order of the Master of the Rolls dated 9th June 1871, the following scheme was established for the managemont and regulation of the Charity :
SCHEME. Separate 1. The Poulters' Company, as trustees of the Charity, accounts to
shall keep a separate account of the property and bo kept.
income of the Charity, and of the expenditure of such income, and shall annually make up such account and
audit the same. Property to 2. The Company shall keep the property belonging to be kept in the Charity in good and sufficient repair, and shall also repair and insured.
keep the same insured from loss or damage by fire, unless the lessees or tenants thereof shall be by covenant bound to repair and insure the premises, in which case
the Company shall see that they keep such covenant. Allowance
3. There shall be allowed to the Clerk of the for expense Company, or to such other person as the Company shall of manage in that behalf appoint, for the expense of the manage.
ment of the Charity and the property thereof, 5l. per cent. on the gross income arising therefrom, such
poundage to include all expenses of collection. The Poul- 4. The Charity shall continue to be under the
management and control of the Poulters' Company,
who shall transact the business of the Charity at their manage the Charity. courts, or at any meetings to be appointed by them, as
they shall see fit. Minute 5. The Company shall keep a Minute Book, in which book, shall be entered minutes of their proceedings at their
courts or meetings with reference to the Charity, and such minutes shall be signed by the Chairman of the court or meeting
6. The Clerk of the Company shall annually present a Annual report of the state of the Charity to the Court of the report and Company, accompanied by such observations as he may think proper.
It shall also be his duty annually to make out and transmit to the Charity Commissioners for England and Wales such accounts and statements of the property, income and expenditure of the Charity as the trustees shall be by law bound to supply. 7. The Company shall, out of the incor of the Payment to
the Charity Charity (other than the dividends to accrue on the sum of 1,4791. 198. ld. Bank 31. per cent. annuities which has St. Leonard, arisen from accumulations of the income of the Shoreditch. Apprenticing Branch of the Charity) pay to the Treasurers or other persons authorized to act in the management or administration of the funds of the existing Charity School in the parish of St. Leonard, Shoreditch, an annuity of 201. for the use of the said School.
8. The Company shall also out of such income dis. Distribution tribute annually the sum of 401. among industrious poor among the persons of the parish of Barking, Essex, who shall not Barking. for twelve months previously have been in the receipt of parochial relief: provided that no such persons shall receive in any one year a larger sum than 41., and that in making the distribution the Company shall give a preference to the most necessitous cases, and, among cases of equal necessity, to persons of the greatest age and infirmity. 9. The Company shall also out of such income dis
Distribution tribute annually the like sum of 401. among industrious among the poor persons of the parish of St. Botolph, Aldgate, in poor of St. the city of London, who shall not for twelve months Aldgate. previously have been in receipt of parochial relief; provided that no such person shall in any one year receive a larger sum than 41., and that in making the distribution the Company shall give a preference to the most necessitous cases, and, among cases of equal necessity, to persons of the greatest age and infirmity.
ters' Com pany to