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Date.

RECEIPTS.

Statement of the Accounts of the Charity called WYATT'S HOSPITAL-continued.

Amount.

Date.

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EXPENDITURE.

Mr. Marshall, for wood for fuel

One year's insurance of almshouses to Michaelmas 1882
Mr. Yate, surgeon, one year's salary to May 1881

One year's quitrent to Michaelmas 1880

One year's tithe rentcharge due October 1881

Charge for valuation of tithes

New buildings and repairs at farm

Gratuity to widow of superintendent Bills:

Atfield, repairs

Candles

To each of the almısmen, 12s. 9d.
To the man who reads prayers
To each of the almsmen, 17s.

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£ S.

d.

184 615 11

5

125

£ s. d.

Balance due 31st December 1880 Total expenditure in 1881

321 1 10

478 14 9

799 16 7

799 16 7

I certify that this and the foregoing statements are correct. By direction and authority of the Worshipful Company of Carpenters.

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CLOCKMAKERS' COMPANY.

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The Commissioners of Inquiry state that none of these sums were carried to a separate account, but that the Company had a greater amount of stock in the public funds than was sufficient to pay the income of these Charities, and they state that the whole annual income amounted to 631. 88. This may have arisen from the Bank Stock producing more than the sum of 121. 168. 2d. annually, at which the Company at present estimate its produce. It is of course impossible to say, unless I could ascertain the time of the purchase and the time of sale, what the actual dividends on the Bank Stock should be; but as the discrepancy cannot in any case be considerable, and as the charity distribution of the Company exceeded the amount of their obligation, I have not thought it necessary to pursue the inquiry further.

These Charities and those of Aichison, Fenn, and Greeton are included in one fund, as follows:

Shelton's and others (brought forward) Aitchison's

Fenn's

Greeton's

£ s. d.

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The Company hold in their corporate names the sum of 3,4831. 18s. 9d. 3 per cent. Consols, the whole of which represents charitable bequests and foundations. The dividend on this amounts together (free of income tax) to 1047. 108. 4d., including the amount with which the Company has charged itself in respect of the above-mentioned Charities and Parkinson's and Frodsham's Charity.

The Company elect at their quarterly courts pensioners, who are either freemen of the City or widows of freemen, making up generally the number of 15 persons, 6 males and 9 females, to each of whom an allowance of 101. a year is made, amounting in the whole to 150l. a year. There are at present two male vacancies. The male vacancies are in pressing cases filled by females, among whom the far greater number of applicants are found.

EAST'S GIFT.

Edward East, by deed of settlement of the 20th June 1693, gave 100l. to the Company in trust to pay annually to five poor labouring workmen, freemen of the City, or their widows, 20s. each.

The disposition of this Charity will be found in the Report on Shelton's Charity.

JONES' GIFT.

Henry Jones, by deed of the 20th June 1693, gave 1007. to the Company upon the same trust as in Edward East's Charity.

The disposition of this Charity will be found in the Report on Shelton's Charity.

HUTCHINSON'S GIFT.

Richard Hutchinson, in July 1736, gave 1CC1. to the Company upon condition of receiving 51. a year during the joint lives of himself and wife, and after their decease said 51. should be given to the poor of the Company.

The account of the disposition of this Endowment will be found in the Report on Shelton's Charity.

GIBBONS' GIFT.

Benjamin Gibbons, by his will of the 6th February 1769, gave 1107. Bank Stock to the poor of the Company not on full pension.

The account of the distribution of this Fund will be found in the Report on Shelton's Charity.

GIFT OF SIR ROBERT DARLING AND NATHANIEL

STYLE.

Sir Robert Darling and Nathaniel Style, on the 6th November 1769, gave 1101. (afterwards invested in 731. Bank Stock) to the Company, in trust to pay the interest thereof to the poor of said Company for ever.

The account of the distribution of this Charity will be found in the Report on Shelton's Charity.

ROWLEY'S OR BOWLEY'S GIFT.

Devereux Rowley or Bowley, by his will of the 24th March 1773, gave 500l. 41. per cent. Annuities to the Company upon trust to apply the dividends thereof in charity to so many poor decayed freemen and their widows as they should deem worthy, to be distributed twice a year.

The account of the distribution of this Charity will be found in the Report on Shelton's Charity.

SIDEY'S GIFT.

Benjamin Sidey, by his will of the 7th September 1795, gave 3001. (afterwards invested in the purchase of 4201. Reduced Annuities) to the Company to apply the interest to their poor members.

The account of this gift is included in the distribution reported on under the head of Shelton's Charity.

GREETON'S OR GRETTON'S GIFT.

Charles Greeton or Gretton, by indenture of the 1st September 1701, gave 501. to the Company for apprenticing

the sons of poor freemen, whose fathers were dead. The sum of 21. 10s. a year has not been applied for apprenticeship for the last 20 years. The Company quarterly advertise the offer of this sum for an apprenticeship fee (putting two years into one, or 57.), but no applications are made for it, and the income is therefore added to the pension funds. (See Report on Shelton's Gift.)

AICHISON'S CHARITY.

At a court of the Company, held the 7th June 1819, it was reported that the executors of the late Richard Aichison, a member of the Fellowship, had paid 107. to the Company, which was directed to be invested in the Funds and the interest applied to the poor of the Company. The Company charge themselves with 10s. annually in respect of this gift. (See Report on Shelton's Charity.)

FENN'S CHARITY.

Samuel Fenn, as appeared from the minutes of the court of the 5th May 1828, bequeathed to the Company 2001. Bank Stock upon trust to keep the same so invested in the name of the Master and Wardens of said Company, and to pay and apply the dividends thereof, by four even quarterly payments in each year, unto and equally between two poor men, members of said Company, and three poor women, widows of deceased members of said Company, as the Master and Wardens should think proper. The sum, after payment of legacy duty, amounted to 1801. Bank Stock. This remained in this state of investment, and the dividends were carried to the Charity Account until April 1843, and by a resolution of the Court of Assistants of the 3rd of that month it was determined, to avoid complexity, to consolidate all the previous investments in one sum total, by transferring so much of the Company's 31. per cent. Reduced Annuities to their present capital in the 31. per cent. Consolidated Annuities as would produce the same annual amount as that derived from the other several The interest or dividends allowed thenceforward on respect of this 1801. Bank Stock has been 127. 12s. per annum. The Company however has ever since continued a proprietor of Bank Stock, and of course in equity would be chargeable for the benefit of Fenn's Charity with the actual dividends on the 1807. of such stock, which, taking it at 107. per cent., would be 187. The sum is in fact exceeded by the amount of the actual benevolences of the Company. (See Shelton's Charity.)

sources.

PARKINSON'S AND FRODSHAM'S CHARITY.

At a court held on the 2nd September 1850 it appeared that William James Frodsham bequeathed to the Company 1,000l., free of legacy duty, to be invested in Consols, to the intent that the dividends should be for ever applied in aiding and assisting decayed workmen, freemen of said Company, or their widows as the Master and Wardens should think fit. And he declared that the said Master and Wardens should be the sole judges as to the extent and meaning of the expression "decayed workmen ;" and out of respect to the memory of his late partner, William Parkinson, he directed that the said bequest should be for ever known and distinguished by the name of "Parkinson's and Frodsham's Charity." The Company invested the 1,000l. in July 1851 in 1,0337. 11s. 10d. 37. per cent. Consols, producing 311. Os. 2d. annually. The income is divided. between two pensioners, either freemen or widows of freemen, being 157. 10s. each. The pensions are both full at present, one male and one female pensioner.

SIR JAMSETJEE JEEJEEBHOY'S PENSION. The foundation of this Charity appears from the following letter from Cursetjee Jamsetjee, Esq., extracted from the minutes of a court held the 8th October 1855.

SIR, Bombay, 26th May 1855. By desire of iny good father, and on behalf of him and myself, I have the honour to enclose a bill on L ndon for 1501.

This remittance we beg you will be good enough to consider as a contribution from us to the Charitable Fund of the Clockmakers' Company, to be applied in such manner as may be deemed most expedient to carry out the object in view.

I would take this opportunity of again conveying to you the expression of our high appreciation of the honour lately conferred upon us by our admission as members of this ancient corporation, in the prosperity of which we shall always take the liveliest interest.

I have the honour, &c. S. E. Atkins, Esq., CURSETJEE JAMSETJEE, Clerk to the Clockmakers' Company.

A further sum of 501. was added to the foregoing 1501. by Mr. Alderman_Kennedy, from funds in his hands belonging to Sir Jamsetjee Jeejeebhoy, entrusted to him for charitable distribution, the total 2007. being invested and forming a distinct pension known as the Sir Jamsetjee Jeejeebhoy Pension." The sum has subsequently been increased by a gift of the present baronet, Sir Jam. setjee Jeejeebhoy, to 2501. These sums were invested by order of the Court of Assistants in ten shares of the Victoria Dock Company (guaranteed 51. per cent. for 21 years), and the proceeds appropriated to the formation of a pension to be entitled the Jamsetjee Jeejeebhoy Pension. The Victoria Dock Company formed a junction with another Company, and paid off all the shareholders dissenting from the arrangement in January 1865 with a premium of 71. 10s. per cent., and the sum received was 2681. 15s. This sum of cash was reduced by the expenses of reinvestment to 2621. 178. 1d., which, with 371. 28. 11d., money of the Company, was invested in the purchase of 3001. Debenture Bonds of the Bombay, Baroda, and Central India Railway Company. Of the dividends amounting to 157. a year, the sum of 131. 2s. 6d., the portion belonging to the charity, is annually given to a pensioner (either a freeman or widow of a freeman). The present pensioner receiving the gift is a freeman.

RAWLINGS' CHARITY.

Charles Rawlings of Cheyne Walk, Chelsea, in April 1861 gave 100l. to be invested in the New India 5 per Cent. Loan, the interest thereof to be given annually in one sum to some object connected with the Company as the Court should deem worthy to receive it. A wish was afterwards expressed by the donor, in a letter of the 10th January 1862 to the clerk of the Company, that it should be given to a deserving freeman or widow of a freeman not receiving the Company's pension, and upon that wish the Company has acted.

The 51. a year is not given generally to the same person in successive years, but always to persons not on the pension list. In December 1863 it was communicated to the Company that the same donor had bequeathed to the Company a legacy of 1001. free of duty to the Company. The Court directed it to be invested in the Indian 5 per Cent. Stock, and that the interest arising thereupon be carried annually to the Casual Relief Fund. This fund is maintained by a poor's box kept by the Company, and by the occasional arrears of other Charities. It is given in sums of 11. or 10s., &c., often to unsuccessful candidates for the pensions or other objects.

The 2001. is invested with other funds of the Company, in the said Indian 5 per Cent. Loan.

ROWLANDS' CHARITY.

William Rowlands of Clerkenwell, Middlesex, in July 1864 gave to the Company 1,000l. on a bond, numbered 1708, of the Imperial Ottoman Loan of 1862, bearing interest at 67. per cent. to the intent that said Company might apply the interest thereof upon and for the trusts mentioned below.

The trust was declared by a deed poll of 3rd April 1865, under the hands of Wm. Rowlands and the Master, Wardens, and Fellowship of the said Company. The following scheme of administration is set out in this deed :

1. The Company shall yearly, on the 27th August, pay out of the interest accruing on the said bond to each pensioner (male or female) in the Clock and Watchmakers' Asylum at Colney Hatch 20s., but if any pensioner be a freeman of the said Company or the widow of a freeman, then the amount payable to him or her in lieu of 20s. shall be 30s., and if any pensioner be a liveryman or a widow of a liveryman, the amount payable to him or her shall be 408.

2. The clerk of the said Company shall keep the accounts of the said trust fund, and shall be entitled to receive yearly out of the income 5l., and the beadle shall pay the several amounts to be paid to the pensioners in the said asylum, and shall take receipts for the same, and shall be entitled to receive yearly out of the income of said trust fund 428., out of which he shall defray all travelling and other incidental expenses connected with the performance of such his duties.

3. The secretary of the said asylum shall yearly, on or previously to the last day of June, send to the clerk of the said Company a list of the pensioners in the said asylum, distinguishing such of them as shall be freemen or liverymen, and for his trouble in so doing shall be entitled to receive yearly out of the income of said trust fund 20s.

4. The balance (if any) of the income of the said trust fund, after answering the several payments aforesaid, and

any other payments or expenses which may fall thereon as hereinafter provided, shall be applicable as follows (that is to say) if at any time the said Company shall be possessed of almshouses, they shall annually on the yearly day hereinbefore in that behalf mentioned pay to every pensioner in such almshouses such a sum, whether 20s., 30s., or 40s. according to the circumstances as under the direction hereinbefore in that behalf contained would have been payable to them respectively had they respectively been pensioners in the said Clock and Watchmakers' Asylum, but if such balance shall be inadequate to answer such payment to all the pensioners in such almshouses of the said Company, then the right of selection of the recipients thereof shall be with the said Company, and shall be exerciseable according to the discretion of the Company. And until the Company shall be possessed of almshouses, or whensoever they shall not be possessed of almshouses, such balance as aforesaid of the said income or any part thereof (and also in the event of the said Company being possessed of almshouses, any ulterior balance of the said income not required for answering the payments hereinbefore in that behalf directed or any part thereof) may be applied to the extent of 101. per annum, or, should the Company so think fit, to any greater extent that the amount thereof will admit, by and in the discretion of the said Company, in or towards the pensions or donations made to the poor applicants of the said Company, or in or towards any of its charitable objects. And umless and until otherwise directed by resolution of the Company, the aforesaid sum of 101. per annum specially authorised to be applied as last aforesaid, shall, with a view to its being so applied, be annually carried to the credit of the "Casual Relief Fund" of the said Company. And if and so far as not applied under the trusts and powers aforesaid, the ultimate residue of such income shall from time to time be invested in some such mode as hereinafter authorised, and such investments shall be added to the original trust fund, and the income shall be added to and blended with the income of the original trust fund, so that the aggregate or consolidated income may be applicable in all respects in manner herein prescribed with regard to the income of the original trust fund.

5. The money secured by the said bond, if paid off, or if the said Company shall think fit to convert or realise the same, and also any surplus income not applied for any of the purposes hereinbefore expressed, may and shall from time to time be invested by or under the direction of the said Company in any stocks or funds or shares or bonds or debentures or other securities of the British Government, or the Government of India, or any Colonial or Foreign Government or State, or of any Railway or other public Company in the United Kingdom or India on which a fixed or minimum dividend or interest shall be secured or guaranteed by the same or any other Company, or by the Government of India, with power for the said Com. pany to vary or transpose or direct the variation or transposition of such investments into or for others of any nature hereby authorised and with power (where the operation exists) of taking such investments either to bearer or so that the same may be inscribed or registered, and if any inscribed or registered investments shall be taken the said Company may and shall provide for the same being taken in the names of trustees, to be from time to time nominated for the purpose by the said Company, and transferred if and when occasion shall require the right of nomination of the trustees. And the authority to direct transfers of the trust fund being wholly left to the said Company and (as well as all other powers hereby given to the said Company as to the mode of exercise, whereof no special directions are hereby given) being exerciseable by resolution of the Company passed at any court (ordinary or special). All expenses of investments, transfers, appointments of new trustees, and other incidental expenses shall be wholly borne by the current income of the trust fund so as not to impair or diminish the capital thereof.

6. If the Company shall at any court (ordinary or special) pass a resolution that from change of circumstances the

trusts applicable to the trust fund, whereof trusts are hereby declared, ought to be modified, and approving of a proposed deed for modifying the same as being consistent in spirit with the terms of this trust, or as nearly so as the altered circumstances will admit, and directing that the proposed deed of modification be executed by the said Company affixing their common seal thereto (or any resolution or resolutions to that effect, whatever may be the precise terms or frame thereof) then such proposed deed of modification shall be executed by and under the common seal of the said Company accordingly. And the trusts previously applicable to the said trust premises shall thenceforth be modified according to the purport and tenor of such deed of modification, and so as to give effect thereto. But no such alteration shall be made in the lifetime of the said William Rowlands without his consent in writing thereto being previously given.

The bond happened to be one of those which were drawn for payment at par in October 1865, and the Company received 1,000l. cash. The Company with this sum purchased 1,3007. like bonds, also bearing interest at 67. per cent., and a balance 217. left after providing the purchase money was carried to the interest account of the fund. The interest received in 1865 was distributed as follows:

To 15 inmates of the Clock and
Watchmakers' Asylum at Colney
Hatch, Middlesex, in sums of 17.,
17. 10s., and 21.

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To the secretary of the Clock and
Watchmakers' Asylum
Income tax, deducted
Clerk of the Company
Beadle of the Company
The Casual Relief Fund

(See Report on Rawlings' Charity.)

£ s. d.

16 10 0

1 0 0

1 7 6

500

2 2 0

10

35 19 6

There was a balance at the end of November 1865 of 641. 58. 3d. not distributed.

The Clock and Watchmakers' Asylum at Colney Hatch mentioned above is an institution wholly independent of this Company, and in no respect under its administration or control.

RUSTOMJEE JAMSETJEE JEEJEEBHOY'S CHARITY.

The sum of 2007. was, on the 31st August 1864, forwarded by the above donor through R. W. Crawford, Esq., the member for the City, to the Company, expressed to be a contribution to the funds of the Clockmakers' Company. The Company invested the money in debenture bonds of the Bombay, Baroda, and Central Indian Railway Company, bearing interest at 5 per cent., and by a resolution of the 10th October 1864 directed the interest to be applied to the formation of a pension, to be entitled the Rustomjee Jamsetjee Jeejeebhoy Pension," for the benefit of needy freemen of the Company or their widows. The 107. a year is paid to a pensioner of the qualified class.

WARRE'S CHARITY.

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