City Sites Development Ltd

This is an exhaustive summary of the Minute Book of the Company from 1906 to 1969

The first directors of City Sites Development Ltd were appointed on 1^st May 1906 at a meeting witnessed by Leonard Tubbs at 68 Aldersgate Street. (PBT had offices here as did Leonard Tubbs)

The Directors were

Thomas Maris Taylor of 3 Powis Square, Bayswater

William Hunter Kendal of 12 Portland Place

Stanley William Tubbs (SWT) of Ellerncroft, Wotton-under-Edge

Joseph Rushbrooke of 146 Aldersgate Street

Andrews of 25 Ludgate Hill.

Of these the surname of Kendal has been manually altered to Grimston, the name he was born with. Elsewhere in the minutes he is referred to as Kendal Grimston. Andrews has been overwritten with Arthur Thos Franklin. It is not known if this is the same person as Andrews, but the address remained unaltered.

The first meeting of the directors took place on 14^th May 1906 at 68 Aldersgate Street, which was the jointly occupied premises of PBT and Leonard W Tubbs. Present were Taylor (chair), SWT and Kendal (named as Grimston but I will refer to him as Kendal).

In attendance were Percy BUrnell Tubbs (PBT) Architect and Surveyor, Leonard W Tubbs (LWT) and Mr John Stephen Thompson, Secretary who appears to have been an employee of PBT.

At the first meeting the formal appointment of directors took place, Memorandum and Articles laid before the meeting etc. The quorum to consist of two directors. The keyholders to the seal to be Rushbrooke and Taylor with Thompson to hold a duplicate.

An account was to be opened at the London and South Western Bank, Cheapside.

It was resolved that 100 share certificates be printed. And that shares be issued

A resolution was made for the payment of £85 stamp duty and fees when the bank balance permits.

These minutes were signed by Rushbrooke at a meeting on 15^th August 1906.

There was a meeting on 12^th July 1906. Present were Taylor, Croft, Epps and Boyland with Thompson in attendance. A report was to be forwarded to the shareholders under Section 12 (2) of the Companies Act 1900, and a copy is attached to the minutes. This shows that the first seven shares were paid up, however they were not paid for. See 1936.

The second full meeting of Directors took place on 15^th August at 68 Aldersgate St. Present were Rushbrooke and Franklin. In attendance Leonard, PBT and Thompson.

The bank pass book was produced showing a Credit balance of £28:10:10.

It was resolved that the Company negotiate for a site in Durham (?) House Street, Adelphi, with an offer of £135 p.a. and no more than £165 p.a. for a 99 year lease, PBT to negotiate.

Failing this it was resolved that the site at the corner of Dysart Street and Clifton Street, Finsbury be the second choice PBT to negotiate at £20 for the first year, £45 for the second and £65 for the third and subsequent years, with a 99 year lease. These were signed by Rushbrooke on 15 November 1906.

The third meeting was on 15^th November. Present Rushbrooke, Taylor, Franklin, SWT. In attendance Leonard, PBT and Thompson.

The bank balance still stood at £28:10:10

Leonard reported that he had arranged for Company to lease 49 Clifton St and 10 Dysart St in the parish of St Leonard, Shoreditch at a ground rent of £20, £30 and £54 in the third and subsequent years for a 99 year lease from Xmas 1906. The Ecclesiastical Commissioners would not enter into an agreement with the Company but Rushbrooke was willing to act as its nominee. A cheque for £7.8.0 to be drawn for Messrs Mills (Miller?) for fee and stamps. Also a deed of indemnity be sealed and executed.

An Executive Building Committee was appointed consisting of Rushbrooke, Franklin and PBT, and that PBT create working drawings and to instruct Quantity Surveyors with a view to procuring estimates for the erection of a new building.

Also PBT was instructed to bid at auction on 26^th November 1906 up to £225 for the ground rent and that in the event of winning there would be a call of one shilling per share. These minutes were signed by SWT on 14 Feb 1907.

The fourth meeting was on 14^th Feb 1907. Present SWT and Franklin. In attendance Leonard, PBT and Thompson. The credit balance was £21:2:10. (Note the money format is written variously in the minute book).

Ten tenders had been received for Dysart/Clifton Street. The lowest was from Messrs G Munday & Son of Muscovy House, Trinity Square for £3070. Munday was to be instructed, but that Portland Cement rather than stone be used to effect a saving. PBT had tried to negotiate for a surrender of the neighbour’s lease at 47 Clifton Street but the price was too high. (This is recognizable as the present day building though it has been extended upward in recent years. The quoins and lower frontage are indeed Portland Cement rather than stone).

A call of Ten shillings per share be made (now totaling 10/6 per share payable in four installments in 1907 of 2/6 on 10^th of April, May, June and July.

PBT reported that the final bid for Giltspur St was £275. He was authorized to negotiate for a lease for a vacant site adjacent to 85 Goswell Road for 80 years at up to £40. (I have previously tried to verify street numbers on Goswell Road which becomes Aldersgate Street and have surmised that the numbering has changed. Curiously google maps point me to the Franklin Building but the street number is evidently different (132-140 The Laser Building, presumably also UoL) and I suspect the name is a mere coincidence. Will attempt to verify this by site visit/ further research)

The Ordinary Yearly meeting was held on 14^th February, signed by Franklin on 16^th February.

The Fifth meeting of directors was on 12^th June 1907. The balance was £388:13:10 plus £300 on deposit.

There was to be a mutual Lighting ? (Lightning Conductor? Probably Street Lighting) between 49 and 47.

PBT reported on negotiations with the surveyor to the opposite owners of the new building, Messrs Phillips of Dysart Street, for a mutual agreement as to heights. This was to be agreed on and both parties to pay their own costs.

Re 83 Goswell Road (Charterhouse Estate) lease to be 90 years from Lady Day 1907. Peppercorn for 9 months, not less than £900 to be expended on the new building, to be roofed within six months and finished within nine. Only provisional approval of the plans had been received from LCC. Expenditure for building of £1524:5:0 to builders Messrs Irwin was approved with a further contingency of £150 to resolve any stipulations of LCC.

Cheques were authorized. £500 Munday: £4:15:0 Ground Rent Mids Quarter less tax to Cluttons: Not exceeding £50 Lee Bolton and Lee deposit re 1 years ground rent on 83 Goswell Road.

6^th Meeting was held on 15 October 1907. Bank balance £80:13:10.

Mr Robert Holden for Phillips objected to paying his costs re height agreement. PBT was instructed to proceed but only on the understanding each party bears its own costs.

Cheques were drawn Cluttons £4:15:0:Mills Jenkins & Co charges re lease on Dysart Street £26:11:0: Irwin £600.

It was agreed to borrow £2000 from the bank on the security of the leases on Dysart Street and Goswell Road. To Let Boards and Bills were in position on the premises and particulars lodged with the principal agents. These were signed by Rushbrooke on 27 August 2008.

An EGM was held on 15^th June 2008. This was called in respect of Companies Act 2007. Leonard advised it was desirable to retain the company as a private company.

The Seventh meeting was on 27^th August 1908. It was resolved that rough minutes be taken and signed by the chairman at the close of the meeting. The bank balance was £67:1:6.

The counterpart of the lease on Goswell Road to be sealed and the lessor’s costs to be paid on presentation.

A further call of 2/6 (total to date of 13/6)

Loan of £164:12:9 to be repaid to Leonard. Balance due to contractor of Goswell Road to be paid when called amounts are in.

Second Ordinary Yearly meeting was on 16 February 1909. Draft accounts were presented. Mr Herbert A Cox of 28 Basinghall Street appointed auditor.

Rushbrooke and Taylor retired and were re-appointed. The minutes were signed by Rushbrooke on 28 Feb 1910.

Eighth meeting held on 1^st April 1909. Bank Credit £353:2:8 and debit loan of £2000.

PBT offered to provide services of his clerk as secretary of the company and of his offices for board meetings. It was resolved to pay PBT £262:10:0 in part settlement of his account leaving balance of £44:1:7

Leonards account is £115:8:6 but he agreed to accept £100 in full settlement and apply that as £31:5:0 to pay up his share call and £68:15:0 for his shares making his shares paid £18/6. This was accepted.

PBT was authorized to negotiate a reduced rental on the company’s properties.

Cheques authorised: PBT £262:10:0: Leonard £100: Disbursements PBT £6:17:6: PBT £10:17:7: Shoreditch Council £1:11:6: Petty Cash £10:00.

Ninth Meeting was held on 28 February 1910.

Bank Balance £94:7:5 Debit £2000.

MEssrs Theo Martyn & Co be accepted as tenants of the second floor of Clifton Street at £40pa (exclusive), the Company to fix a counter on this floor for £6:10:0.

Cheques authorized: Finsbury Borough Council £27:4:8 for half year rates on 83 Goswell Road: SHoreditch £6:18:8 Quarter’s rates on 49 Clifton St: Metropolitan Water Board Water Rates 2^nd and 4^th floors Clifton Street to March 31^st 1910 £3:1:6.

Accounts to 31 Dec 1908 approved.

Accounts for year to 31 Dec 1909 approved. Nett costs to date of £374:12:11 to be written off and depreciation Goswell Street £2:8:3, Clifton Street £2:18:10.

Auditor requested to make application of Income Tax not deducted from the Iterest paid on bank loan and as the company’s finances were poor could he be as lenient as possible in his charges!

Third Ordinary Yearly meeting 28 February 1910, Accounts approved. Kendal and SWT retired and re-elected.

Tenth Meeting of Directors 24^th May 1911.

Bank Credit balance of £147:3:1

Tenants are Clifton Street 4^th floor £40: Ground and basement £140

Accounts for year to 31 December 1910 show loss of £6/12/8 (another format) or profit of about £45 with previous years (?).

Cheques Shoreditch £1:11:6, rental pavement lights Clifton Street: Shoreditch £3:10:00 rates Do: Finsbury rates £12:10:3: PBT commission on lettings £8:2:0 and £15:3:0: PBT balance of architect and surveyor’s fee Goswell Road and Clifton Street £35:19:7.

Fourth Ordinary Annual Meeting 24^th May 1911

Accounts approved. Messrs Woodman Cox & Co elected auditors at fee of four guineas. Taylor and Rushbrooke retired and re-elected. Architects fees and the cost of the buildings they refer to to be intered in ledger A/c.

Eleventh Directors Meeting 17 December 1912.

Bank Credit £262:16:8

Accounts to year ending 31 Dec 1911 showing profit of £99.10.3 approved.

Bank requested early reduction in the loan. Rushbrooke to negotiate with Bank Manager.

Cheques authorized: Finsbury £13:2:2: Shoreditch £16:8:9: Woodman Cox £6:6:0: Batt & Hart(?) Builders £30:3:10

Fifth Ordinary Annual Meeting 17 December 1912.Balance sheet to 31 Dec 1911 adopted. Franklin and Kendal retired and re-elected.

12^th Directors meeting 30^th December 1913

Bank Balance £255:5:9. Accounts to 31/12/12 signed.

Sixth Ordinary Yearly meeting 30/12/13/

Accounts showing net profit of £94:14:7, making overall loss to date of £137.0.9. Auditors re-appointed at £4:4:0. Rushbrooke and Taylor retired and re-elected.

13^th Meeting of Directors 11 November 1914.

Bank Balance £391:6:7 Honorarium of £12:12:0 agreed for PBT.

An interim dividend of 2.5% on paid up capital declared, free of income tax. £100 to be paid off bank loan.

“The matter of the seven signatories shares to be looked into and regularized”.

Seventh Ordinary Yearly Meeting held on 11 November 1914.

Accounts show net profit for the year of £211/14/- overall balance of £74/3/3.

14^th meeting held at 10 Grays In Square 28^th March 1916

Bank Balance £455:16:00. Loan Debit £1700:0:00

Secretary requested to draft printed tenancy forms with necessary blanks. Further £100 to be paid off bank loan.

Final dividend of 2.5% on paid up capital and £5% for 1915, free of income tax. Honorarium of £20 agree for PBT.

Leonard referred to properties of a client which might be suitable investments.

Secretary requested to keep a summary of the net profit and lay all balance sheets on the table.

Eighth Ordinary Yearly Meeting 28^th March 1916 Grays Inn Square.

Accounts for year ended 31/12/1915 show profit of £109.17.1, cumulatively £281.9.1

Cheque authorized for Accountancy fees and charges of £22/1-. SWT re-elected Final Dividend of 3.5% for 1914 and 5% for 1915 declared.

Fifteenth meeting of Directors held at the registered offices 10 Grays Inn Square on 4 June 1917.

Bank Credit Balance of £289.12.8 Decided not to print special forms but prepare copy for each agreement.

Agreed to tenancy for Charles Winstone for three years from Lady Day 1917 on third floor of Clifton Street, £60 year 1, £65 for 2 and 3, inclusive.

Amount of insurances to be increased by 33.3%

Account for year to 31/12/16 approved. Dividend of 5% on paid up capital for 1916. Honorarium of £15 to Secretary. Bank loan to remain at £1600.

Staircase at Dysart Street to be repaired. Cost up to £25.

Ninth AGM 4^th June 1917 No 10 Grays Inn Square.

Accounts for 1916 show profit of £158.17.7. Dividend of 5% declared.

Rushbrooke and Taylor re-elected.

Sixteenth Meeting on 18 October 1918.

PBT Elected a director in place of the late Kendal (Grimstone)

Bank Balance £501:6:5.

Leonard instructed to arrange better terms for bank loan.

Provisionally endorsed Blackmore & co Ltd of Kettering as tenants of Basement, ground and first floors of 83 Goswell Road at £175 pa inclusive, subject to references.

Accounts approved. Dividend proposed of 5% for 1917 and an interim dividend for 1918 total £226.19.5 (£4539 * 5%)?

Forms signed relating to merger of Barclays with London Provincial and South Western Bank Ltd.

Share Certificates to be issued at next meeting.

Tenth AGM 18^th October 1918.

Accounts show profit of £141.19.5. Final dividend of 5% afor 1917 and interim 2.5% for 1918 be paid. Franklin and SWT retired and re-elected.

1th Meeting of Directors 6^th November 1919.

Credit Balance £266-9-2. Nett liability to bank £1333:10:10 (ie loan still stands at £1600)

Final dividend of 2.5% for 1918 and interim dividend of 2.5%

Purchase approved of leasehold on 1 to 7 (inclusive) Hall Street, City Road for £900. Funds to be transferred to current account by bank. Deeds to be held by the bank. Total value of cover standing at £7000 at present values.

PBT to reconsider Fire Insurance.

Eleventh AGM 6^th November 1919.

Profit for year of £171.6.11. Final dividend of 2.5% approved for 1918, interim 2.5% for 1919.

N executive committee of three to be formed to deal with all properties of PBT Franklin and Rushbrooke.

Clifton Street to be sold by auction with vacant possession of 1^st and 2^nd floors and early possession of ground+ basement.

Eighteenth Meeting of Directors 3 November 1920.

Credit Balance of £368::11:3. Total debt to bank £2131.9.9.

Debenham Tewson account of £60:9:3 for futile sale. PBT and Rushbrooke to attempt to renogiate this on grounds that sale was not conducted in the best possible manner from the Company’s point of view.

Solicitors charges on purchase of Hall Street considered high relative to scale fees. Secretary instructed to send £24/9/- (Scale + one third) accordingly.

Hall Street showing a loss for first nine months so about £170 so repair and solicitors fees to be charged to capital account/

Insurance be increased: Dysart Street by £2800 to £7000: Goswell Road by 500 to £3300. £7000 on seven Hall Street Properties sufficient. Insurances to include 8.5% for Architects and Surveyors fees.

Secretary’s annual remuneration increased from £15 to £30 p.a re collecting weekly rents at Hall Street.

Twelfth AGM 3 November 1920/

Profit for the year £121:3:9. Franklin and PBT retired and re-elected.

Nineteenth meeting 15^th November 1921.

Credit Balance of £464:7:0 plus £67:2:5 just paid in leave net balance of £1968.10.7

Dividend of 5% for 1920 and interim dividend of 5% for 1921.

Tenants Schonewald approved for Basement, ground and first floors of 83 Goswell Road at £230pa inclusive for three or five years.

Formal notice to tenants at Clifton Street. PBT to negotiate for new tenants at higher rentals.

Rushbrooke proposed AGM be held by March. DEbenham Tewson accepted payment of £52.10.0

13^th AGM 15^th November 1921.

Profit of £221.3.1, Dividend of 5% for 1920 and interim 5% for 1921.

Taylor and SWT retired and re-elected.

Twentieth Meeting 25 May1922.

Bank Credit Balance £376:2:3 + ££6:12:0.

PBT reported rental improvement at Goswell Road of £127 and £160 at Clifton Street when ground+basement is let.

PBT allowed Twenty Guineas (£21) for use of offices etc.

PBT to negotiate for purchase of 71,72 and 73 Bastwick Street Goswell Road up to £800. A call of 3/6 to be made if bank unwilling to fund.

Final dividend of 5% for 1921 to be paid by 1/7/1922.

14^th AGM 25^th May 1922.

Profit for year £269:9:3. Final dividend 5% approved for 1921. Rusbrooke and PBT retired and re-elected.

Twenty first Meeting 5^th July 1923.

PBT reported that purchase of Bastwick Street freeholds had been completed for £700 of which £500 from income and £200 bank loan.

Current balance £189:13:3

PBT reported lettings as:-

83 Goswell Road 2+3 floors £115 inc.

Clifton Street Basement+ground £200 inc, 1^st £90 net, 2+3 £330 inc

£69.5.0 had been spent on repairs of which £13:10:0 recovered from tenants.

Hall street produced £8:7:5 per week gross + £52 p.a. in quarterly

Bastwick Steet properties some tenants were badly in arrears.

5% dividend to be paid for 1923 (probably should read 1922)

SWT verbally tendered his resignation from the Board of Directors.

15^th AGM 5th July 1923.

Accounts show profit of £343:17:9. Recommend dividend of 5% for 1923 (probably should read 1922)

Taylor and Franklin retired and reelected.

Twenty second meeting 24^th August 1923.

Bank Credit Balance of £221:4:5

SWTs letter of resignation received. “I have no alternative but to resign from the Board as I have always found it quite impossible to work with the present Chairman (Rushbrooke)

I understand it is suggested that there be a further call on the shares. Please note that I protest this call being made and I may also add that my co-trustee of the Kendal Grimstone estate will find this call not inconvenient inasmuch as the present holding is not a trustee security. They have no funds to meet any further call without selling present first class securities.

The resignation was accepted but it was noted that the board had no recollection of any previous differences of opinion between the Chairman and Mr Stanley Tubbs.

The Chairman expressed his willingness to resign (inasmuch as the Company was very much a family concern) .

This was accepted and Taylor was appointed in his place.

Meeting was adjourned.

Twenty third meeting at 30 John Street, Bedford Row WC1 11^th October 1923. Present Taylor, Franklin, PBT. In attendance Leonard Tubbs, PBT.

Resolved that SWT be elected a Director of the Company.

Change of Registered Office from 10 Grays Inn Square to 30 John Street.

Interim dividend of 5% in respect of current year ti be paid on 12^th November 1923.

Resolved to mortgage Clifton St and Goswell Road at 5.5%. Repay existing bank loan of £2700. New loan to be secured on Hall and Bastwick street for £1200

Enablement of uncalled capital – as the directors may decide.

PBT and Franklin appointed to make enquiries on likely properties.

Recommend monthly meetings commencing December 1923.

Twenty fourth meeting 19^th December 1923.

Net Credit balance of £242.:3:3

Mortgage negotiations were with SWT. Leonard to procure mortgage if that failed.

Due to reduction of Borough Rates weekly rentals at Hall St to be reduced by 1/6 per house from 31 December.

Tenant of 2+3 floors at Goswell Road was in arrears with rent.

Possible sites were in City Road and Baltic Street.

25^th meeting 3^rd March 1924.

Bank Credit balance of £456:15:10

Accounts to December 1923 approved (no figure given). No final dividend recommended for 1923. Interim 5% for 1924.

PBT put forward plans for developing land on the Chiswick Park Estate. PBT reported Barclays Cheapside were not favouring financing this, but that Lloyds High Holborn were more sanguine. N.B PBT had already built Compton on the Chiswick Estate as a home for Cecil and Irene which was occupied some time in 1924 but building started in 1923.

New balance sheet drawn up showing properties at market value rather than cost. Bonus shares considered but matter deferred.

Sixteenth AGM 3 Marc 1924.

Profit reported of £658:10:10. 5% dividend declared for current year, 1924. Rushbrooke and PBT retired and re-elected.

Twenty sixth meeting 2^nd April 1924.

Resolved to send a letter of sympathy to the family of Joseph Rushbrooke who had been chair from 1906 to 1923.

Bank Credit Balance of £200:2:6.

Unpaid balance of shares to be called on before 31^st May 1924.;

Consideration to issuing reserve created by revaluation as bonus shares.

Arrears on tenancy at Goswell Road to be dealt with by solicitor.

Twenty Seventh Meeting on 18 May 1924. SWT in Chair. Mr Wilkins present for Cox & Co.

Credit balance £431:8:11.

Proposal to alter Mem & Arts to allow profits to be capitalized.

Lloyds Bank, Lincoln House, 296 High Holborn to be approached with particulars re financing of Chiswick Park Estate. PBT and Taylor to act.

Chairman to contact exors of HTT to offer £2500 for piece of land at Chiswick bounded by Fairford Road, Park Road and Staveley Road.

Twenty Eighth Meeting 21^st May 1924.

Current account £400:14:4

Bank insisting on joint and several guarantees plus a commission charge as well as security of £14898. It would not be possible to proceed on those terms, await bank’s reply.

Tenancy of Schonewal at 83 GR to be endorsed for addition of 2+3 floors at additional £90 exclusive.

Twenty ninth meeting 6^th June 1924.

Credit balance at Barclays Cheapside £1139:14:10

Terms from Lloyds were now satisfactory.

Proposal to purchase Chiswick from HTT dropped.

PBT submitted sketch plans for 90/92 John Street Clerkenwell. Meeting adjourned for a site visit. PBT authorized to negotiate ground lease not exceeding £100.

Discussion of dividend deferred.

Thirtieth meeting 20^th October 1924.

Credit Balance of £499:6:7. Barclays loan £1150.

99 year ground lease from London Parochial Charities from 29/9/1924. First year at peppercorn. Cheque drawn for £100:10:0 being £90 plus fees.

Barthall Bros & Gray Ltd, tenants of Clifton St g+b in arrears. Postdated cheques have been received.

Further dividend of 5% on current year to be paid forthwith.

In future dividends to be paid interim in July and final in February (of the following year).

Leonard appointed a Director in place of Rushbrooke.

Fully paid Share Certificates to be issued. £1500 to Taylor, £800 to Franklin, so they must have bought Kendal’s shares.

Bank account to be transferred to Lloyds if they finance St John.

Thirty first meeting 2 Dec 1924.

Credit balance of £509:12;6 less £20 returned cheque from Barthall.

Formal mandate to Lloyds.

Percy Tubbs and Duncan instructed to make working drawings for St John Street.

Thirty Second Meeting 2 April 1925

In attendance Percy Tubbs, Son and Duncan Architects (ie PBT not named)

Current balance at Lloyds £368/4/7

Accounts approved and dividend of 10% for 1924.Bank had paid Barclays £1150 and received £359:1:2 from current account.

Lowest tender for St J received for £8695 from Mr Gladding (?) considered high. Architect to draw up contract on revised figures.

Thirty third meeting 20^th April 1925

Credit balance £382:19:1

Contract to be executed for £8250. Architect and Surveyors fees. Half scale fee to be paid on signing of contract £273:19:0 = £247:10:0 plus £26:8:0. Twenty guineas survey fee to be waived.

Seventeenth AGM 20^th April 1825.

Accounts show profit of £603:2:8. No further dividend for 1924. Franklin and SWT retired and reelected.

Thirty fourth meeting 12 June 1925.

Net current balance of £311:1:6

Negotiations with Parrot surveyor for Wests (Butchers) Ltd who might lease or buy 90-92 St Johns St, but alterations would cost £2000. Agreed to offer it for £15,000.

Thirty Fifth meeting 13 July 1925.

Net Balance £248:4:5

Bastwick Street troublesome with arrears.

Warehouse properties are fully let. Ground floor and basement at Clifton St let to Western Electric Company (Messrs C Seymour (?)). Staircase to be “done up”. (again?)

Cheques totaling £32:12:4 to Percy Tubbs Sons and Duncan architects charges on rental properties and £25:19:0 to the solicitors.

Interim dividend of 5% to be paid for current year.

Thirty Sixth Meeting

Credit account £426:3:6. Loan account at £4150:0:0.

Steelwork in position at St Johns. Completion anticipated by January.

Seymour was reported to breaking terms of covenant re fire risks. Solicitors to act. Commission to Denny Agent of £20 to be withheld until this was resolved.

Discussion of Directors fees, bonus shares and raising of capital deferred.

Thirty Seventh meeting 24 February 1926. Mr Percy G Wilkins Chartered Accountant present for the auditors.

Credit balance of £700.2:11 Loan of £6650.

Accounts approved. Final dividend of 5% to be paid forthwith.

Directors’ fees not to be paid.

Solicitors to handle termination of Schonewald lease and new tenant of R O Stephenson.

Agreed to draw £9150 in installments from Lloyds.

Kendal Estate had been granted probate. Transfer of shares 1 and 2 to Taylor and Franklin approved.

Rushbrookes shares transferred to executors.

Joint fire escape had been completed between 88 and 90-92 St Johns. Deed re same to be executed.

Eighteenth AGM 2 February 1926.

PG Wilkins representing Woodman Cox and Wilkins.

Profit for year of £753:15:00 (£40872 at 2016 prices). Dividend of 5% approved.

Taylor and LWT retired and re-elected.

Thirty Eighth meeting 28 June 1926

Net Credit balance of 563:8:8 . Loan account £7750.. Loan to be extended to £10,000 (from £9150)

Interim dividend of 5%.

Likely tenants available for St Johns for fixed period of 5 or 6 years.

Cheque drawn for £104:9:0 to Howard Bradshaw, fees re lease of 90/92.

Thirty Ninth meeting 22 Feb 1927.

Credit Balance of £449:18:1. Loan £9655.

5% final dividend for 1926.

Solicitor instructed to redraft M&A to allow issue of bonus shares. Final £365 of loan facility to be transferred to current a/c/

90-92 entirely complete.

Solicitor to find mortgage of £10,000 at 5.5% on St J.

Nineteenth AGM 22 Feb 1927

Profit for year £690:15:9. Final dividend 5%. SWT and PBT retired and re-elected.

Fortieth Meeting 27 July 1927.

Credit balance £517:11:2. Loan account £10,000.

St J now let but for 3^rd floor.

Cheque for £150 to architects against account of £285. Interim dividend of 5% on current year.

Forty first meeting 13 Mar 1928. New registered offices at 39 Great James Street. Meetings continued to be held here until ????).

Credit Balance £701:13:11 Loan £10,000. Final dividend 5%

PBT knew of funds of £1000 and £1500 available at 5.5% and recommended Goswell Road as security.

Honorarium to Sec of extra £10 for 1927. Annual rate now set at £40 pa.

Twentieth AGM 13 March 1928

Profit for year £750:7:9. Final dividend of 5% to be paid. Franklin and Taylor retired and re-elected.

Forty Second meeting 12 July 1928 held at 29-30 Noble Street (ie Tubbs Lewis offices).

Credit balance £518:10:6

Abbey Road Building Society likely to approve Mortgage of £8-10,000 on St J. Interim dividend of 5% for current year.

Forty third meeting 25 April 1929

Credit Balance £1083:19:11. Final dividend 10% for 1928 to be paid forthwith.

Mortgage arrange for £8000 at 6%. Interest payable quarterly and capital to be reduced by £75 pa.

£500 to be paid off bank loan. Arrangement to be made for paying 5% interim dividend asap after 31 July 1929.

Twenty first AGM 25 April 1929. (minutes signed by PBT on 17/7/1930)

SWT now minuted as Sir Stanley.

Profit for year £864:6:5. Approved and final dividend of 10% approved. SWT and PBT retired and re-elected.

Forty Fourth meeting held at Registered Office of 39 Great James Street.

Net credit balance £471:13:8

Interim dividend of 5% authorized.

MR S A S Yeo offered to purchase leasehold 6 & 7 Hall Street freehold for £550. Solicitor instructed to act. (Yeo is one of the original shareholders with one share)

Forty fifth meeting 2 January 1930.

Credit balance £388:9:1. Loan £1150. This had been reduced by £534 being proceeds of 6 & 7 Hall Street.

PBT authorized to accept £2000 onon on 70-73 Bastwick Street.

Three sketch plans discussed by decided not to proceed.

Forty Sixth meeting 30 March 1930

Current balance £424.10.6. Loan account £1150.

Draft accounts approved.

Heavy expenditure on Bastwick Street and painting at Hall Street expenditure to be spread over three years.

Further interim of 5% for 1929 (making 10% for the year is crossed out)

Forty Seventh Meeting 7^th July 1930.

Credit balance £346:11:7 loan account £1150.

10% having been paid for 1929 no further dividend to be paid.

Interim dividend of 5% to be paid.

Tenant Philip Josephs and Son at 90-92 were two quarters in arrears. Solicitor instructed to act.

As £1034:19:6 had been paid off loan in 1929 leaving £1150 PBT instructed to negotiate to transfer balance to current account , to be calculated on daily basis.

Twenty Second AGM 17^th July 1930 (PBT in chair)

Profit for year £990:17:7.

About £440 had been spent re-roofing Bastwick Streeet. This was a heavy expenditure on property purchased for redevelopment but hampered by Rent Restriction Acts. Cost to be spread over three years but had been paid for in cash. Likewise £138 spent on Hall Street repainting. Other properties are all fully let. No further dividend than 10% already paid for 1929. Franklin and LT retired and reelected.

Forty eighth meeting 16 April 1931.

Net balance £76:10:1 overdrawn.

Net profit for year of £922:5:1 Final dividend of 15% (total for year of 20%) for 1930. Probable change of tenants at St J. Some improvements required (lavatory accommodation?)

Twenty Third AGM 16 April 1931.

Final dividend of 15% approved. Taylor and PBT retired and re-elected.

Forty Ninths meeting 23 July 1931

Lenton & Rusby, tenants of first and second floors St John St had given notice to quit.

AN interim dividen of 5% was proposed and approved

Fiftieth meeting 8^th April 1932 attended by PBT and LWT.

Proceeding were under way for repossession of 5 Hall Street.

A letter was discussed in which the Inspector of Taxes refused to accept a claim in respect of excessive maintenance of Bastwick Street properties.

Statement of Accounts and Balance Sheet for year ended 31 December 1931 showed profit of £1128-9-3 and approved subject to an amendment adjusting Income Tax in respect of Abbey Road BS. No further dividend to be paid for 1931.

Twenty Fourth Ordinary General Meeting also in 8^th April 1932. Profit of £1128-9-3 compared with £922-5-7 for previous year. SWT aznd Franklin retired an re-elected.

Fifty First Meeting held at new Registered Offices of 16 Harpur Street WC1 19^th July 1932.

Interim dividend of 5% agreed.

Void properties were

90-92 St J Floors 1 to 4.

Clifton/Dysart Street Ground floor and basement due to be empty at Xmas. Four upper floors.

83 Goswell Road – Seven year lease due to expire Lady Day 1933. Tenant thought likely to continue.

Possession of 5 Hall Street had been obtained, but was in a deplorable condition. Secretary instructed to negotiate for sale of 1-5 to the purchaser of No 6. Minimum price £500.

52^nd Meeting 2^nd May 1933.

Ground floor and basement of 90-92 St were let at 500

83 Goswell Road First and third floors let £184 pa inc.

Clifton Dysart wholly empty.

Profit for year £760.8.1. No further dividend to be paid.

Plate Glass insurance to be taken of Clifton St and Goswell Road, while unlet.

Property tax reclaim of £144-11-9 re Bastwick Street. And £145-2-3 re St J.

Secretary asked to convey condolences to the family regarding the death of Percy B Tubbs FRIBA.

25^th OGM 2 May 1933.

Grahame B Tubbs ARIBA (GBT) appointed a director. Percy Tubbs Son & Duncan appointed architects and surveyors to the Company.

Fifty Third Meeting 17^th May 1934.

Unlet were St J First and Second floors

Clifton Street Basement and Ground.

Goswell Road First and Second.

Hall Street properties were let but tenant of No5 was complaining about vibration from a new laundry machine that had been installed by Initial Services Ltd, next door. It was agreed to initiate proceedings.

These properties were still for sale.

LWT to see papers prior to attempting to negotiate reduction of interest with Abbey Road on St J.

Profit for year was £314-12-11. No dividend to paid for 1933. Interim Divident of 2.5% for 1934. Thanks recorded to Thompson for the way the secretarial work had been done.

Twenty Sixth OGM 17 May 1934.

SWT and Franklin retired and re-elected.

Fifty Fourth meeting 8^th August 1934.

LWT reported Building Society had not reached a decision on interest.

Left to LWT to decide if mortgage could be reduced by £500. £1000 to be put on deposit.

Net amount due to company on sale of Hall Street properties was £963-8-11 and had been received. Dividend of 5% to be paid.

Clearance Order had been received from LCC for 70,71,72 and 93 Bastwick Street. If demolition order is confirmed surveyor to btain estimates.

Company expected to receive £290 in respect of a settlement over user of the party wall between 90-92 St and 88.

Fifty Fifth Meeting 2^nd May 1935.

Accounts to be adjusted in respect of £290 received in 1935 relating to 1934.

Final dividend of 5% for 1934 (7.5% overall). Further 5% to be paid re disposal of Hall Street.

£40 (.5%) interest repayment had been received from Abbey Road re 1934 and similar was sought for 1933.

LWT proposed a further reduction in principal which now stood at £7656-12-8.

Bastwick street properties now largely empty but problems with obtaining final rents from tenants.

Secretary to be paid £40 despite loss of Hall Street duties, but to be reviewed at end of year.

26^th OGM 4^th June 1935.

£1000 on deposit to be used to reduced mortgage capital.

56^th Meeting 4^th June 1935.

Confirmation of reduction of capital plus further £75 annually. Interest to be reduced to five (?) per cent. Abbbey to repay one half percent for 1933. Profit of £783.-1-10 approved.

Dividends approved. Further five for 1934. Ten% out of Hall St proceeds. Plus a final 5% for 1934.

27^th OGM 4^th June 1935.

Confirm final 5% (Total 7.5%) plus 10% of proceeds. LWT and Taylor retired and re-elected

57^th Meeting 16 June 1936.

Bastwick St now a cleared site. Offers had not materialized. Surveyors instructed to accept not less than £800 net.

LWT acting in case of Lucas tenant at 83 Goswell Road. Had £24-12-4 in hand but expected to distrain.

Further 5% dividend over sale of Hall Street plus final dividend of 2.5% for 1935.

Interim dividend of 2.5% for 1936.

The original seven shares were in fact unpaid and GBT offered to pay for these. Taylors honorarium to remain at £40.

28^th OGM 16 June 1936.

Accounts for 1935 showed profit of £674-6-5. Confirmation of dividends previously discussed. SWT and GBT retired and re-elected.

58^th meeting 10 June 1937.

Bastwick St site had been sold for £900 less agreed amount for fencing of £10-5-6. Cheque for the balance had been received.

Various decisions relating to transfer of deeds and redemption of land tax re the above sale.

Tenancy of Lewcon Baby Wear Ltd approved for 4^th floor Dysart St at £55 p.a.

Accounts for 1936 shing profit f £716-10-6 approved.

Final dividend of 2.5% approved for 1936 plus further 2% on sale of Hall St properties.

Mortgage on 90-92 St now stood at £6510. Proposed to offer £600 in lieu of eight annual repayments to Abbey.

29^th OGM 24^th June 1937. Taylor and LWT retired and relected.

59^th Meeting 30th June 1938.

Accounts show profit of £240-7-11. No dividend for the year but final dividend from Hall Street of £1-16-9 + 1/8^th per cent

30^th OGM 30^th June 1938.

SWT and GBT retired and rellected.

60^th Meeting 29^th June 1939

Loss for the year of £5-1-8. This mainly duie to the winding of Ground floor and basement tenants of St J - P Josephs and Sons

Architects reported that three properties were in need of painting etc.

Total unlets were costing £1250 of income.

31^st OGM 29^th June 1939.

LWT and Taylor retired and re-elected.

61^st meeting 9^th January 1940

Only lettings were 3^rd floor 90-92 St J £100pa; 1^st floor Dysart £75 pa; 2,3,4 floors £170. Tenants had asked for rent reductions due to loss of business. Letting of St J to Louis Newmark for £600 in prospect subject to dilapidations being rectified plus provision of air raid shelter..

Cost of shelter at CLiofton ~St approved. GBT to continue discussions with bank re overdraft.

Sixty Seventh Meeting (sic) 12^th December 1940.

Bank Balance at £1052-12-6.

Some damage at Clifton/Dysart but damage chiefly glass.

83 Goswell slight non-structural damage.

Lewcon Baby Wear had vacated three upper floors of Clifton Street without formal notice.

Accounts for year to 31/12/1939 showed further loss of £56-9-6. Various disbursements approved.

32^nd OGM 12^th December 1940. SWT and GBT retired and reelected.

68^th Meeting at new Registered Office, Chancery Lane Station Chambers 7 November 1941.

LWT reported death of Sir Thomas Taylor. Condolences to be sent to Lady Taylor.

Bank account overdrawn £678-18-4 to be reduced to two rental payments Garnett & Co £55-18-8 re Goswell Rd and Dennis & Smith tenants £60.

Accounts for year show further loss of £327-0-2.

SWT elected Chairman (but note that he died one month later on 11 December 1941).

Further disbursements approved.

Disputed demand for War Insurance re 90-92 St J was based on rental value of £1005 but present value was £462 net on rental of £600.

Also disputed were 10% charge by Jackson Estate agent for 83 Goswell Road as tenancy was only one year and non-repairing.

One share transferred from GBT to Thompson.

33^rd OGM 7^th November 1941.

SWT and GBT retired and reelected.

69^th Meeting at Friars House New Broad St 9^th October 1942. Mr Ayling representing the solicitors. Overdraft £873-12-8 (limit £1050) but £171-8-5 was in hand.

Loss for year of £188-18-11

£145 debited to income account re 4 war damages contributions.

LWT appointed Chairman following SWT’s death. Cecil B Tubbs (CBT) Exor of PBT asppointed Director.

New Certifcate for SWTs 1000 shares executed to executors, (LWT, Henry Lancelot Kingston Hall (?), Alfred Cedric Cowan Willway.

34^th OGM 9 October 1942.

LWT and GBT retired and re-elected.

70^th Meeting Friars House, 2 September 1943. LWT, GBT, CBT

Overdraft £904-2-6 (limit £1050)

CBT formally joins board.

Accounts show loss for year of £79:5:3.

Unlets were £265 Goswell St: £115 Clifton St:

St J rental might rise from £600 to £800.

500 Rushbrooke shares transferred to GBT and CBT, 250 each.

Architects now Tubbs Son and Osborn. Various disbursements approved including war damage Clifton St..

35^th OGM Friars House 2 September 1943.

CBT confirmed as a director. Loss for year £79.5.3 against £188.18.11 previous year. £68:12:6 paid for war damage repairs to Clifton Street.

35^th OGM Thursday 2 September 1943, Friar House New Broad St/

LT and BT retired and reelected. Woodman Cox and Wilkins reappointed auditors.

71^st meeting, Friars House New Broad St, Friday 14 July 1944.

Profit reported for the year of £322:6:0. Agreed no dividend be paid, but it was noted that no Direcots fees had ever been paid and it was agreed to by LWT 10gns; GBT, CBT 5gn each. There was a discussion on reduction of the balance sheet values of leasehold properties.

36^th OGM on 14^th July.

LWT and GBT retired and reelected. Directors’ fees approved and paid.

72^nd Meeting,Friars House 19^th July 1945

Net overdraft £225:12:4 against limit of £850.

Profit for year reported of £85.3.1. Items were charged to Air Raid Shelters and war damage contributions so no dividend to be paid. All properties let except 3^rd floor 83 Goswell Road.

Tenants at Dysart St anxious to recover use of basement from its use as air shelter. Lease due to expire Xmas 1945 but as property is in demand it is thought likely they would renew. Expert opinion to be sought on the value of the floorspace.

Dron & Right surveyors be asked to consider this matter with a view to selling. GBT to act.

LWT was arranging to construct storage space at St Johns St in place of air raid shelters.

Advice was received that Fire insurance cover on St Johns St be raised to £17500. Freeholder (London Parochial Charities) to be instructed to arrange this.

Directors fees to be paid annually as previous year. Payment to Tubbs Duncan and Osborn for facilities be increased from 20 to 30 gns

Cheques raised for war damage contributions

St J £100-10-0

Goswell Road 29-10-0

Clifton St 32-13-00

37^th OGM 19^th July 1945.

LWT and CBT retired and reelected.

73 meeting Friar House Friday 1^st February 1946.

Net credit balance of £6054:15:00

Contract made for sale of Clifton St for £6500 and had been completed and conveyance sealed.

74^th meeting Friars House Thursday 9^th May 1946.

Some repairs outstanding in respect of Clifton St.

Newmark to purchase renewal of lease for two years at £1500 pa.

75^th meeting Friars House Thursday 6^th June 1946.

Profit for year of £213.5.8 against £85.3.1. No dividend recommended. Newmark not proceeding with lease renewal. Property to be advertised at £1500 with option to purchase on expiration.

38^th OGM 6^th June.

GBT and BT retire d and reelected. Lady Dorothea Taylor proposed.

76^th meeting Friars House 23 May 1947.

Profit for year reported £366.1.1

Lease to be sealed on St J to J Felize and co (?) Tubbs Duncan payment now £32-10-0.

LT £5-15-6; GBT and CBT £2:17:9 after tax.

39^th AGM Friars House 24^th June 1947.

LWT and GBT retired and reelected.

77^th Meeting Friars House 11 May 1948.

Profit reported £648:12:3.

£1000 to be set aside to form depreciation reserve fund. Dividend of 15% less tax to be recommended.

Directors fees LWT 30gns; GBT CBT 25gns each. Secs honorarium to be increased by £10 to £50.

40^th OGM Friars House 10^th June.

Auditors reappointed at usual fee of 30gns. Vote of thanks to LWT chair.

78^th meeting Friars House 9^th June 1949.

Profit reported of £774-5-0. 15% dividend recommended less tax. Depreciation reserve to be increased by £500 to £1500.

79^th meeting Friars House 7^th July 1949. Goswell Road tenants Mesrs Montgomery & ? likely to renew subject to rent increase.

41 OGM Friars House 7^th July 1949.

80^th Meeting held at Harcourt House, Cavendish Square Thursday 1^st June 1950.

Draft profit reported of £867-7-7. Further increase of depreciation reserve of £250 to £1750.

Dividend of 25%!.

Approved purchase of £1500 2.25% Exchequer Bonds and docs to be deposited with bankers.

Noted that tenants at Goswell Road had sublet and it was proposed to attempt to accept surrender of lease in order to relet at a higher price.

81^st meeting Harcourt House, 6^th July 1950. Repairs to wall and staircase at Goswell Road estimated at £340 of which £150 recoverable from War Damage Commission. Upper 3 floors at Goswell Road could be let for £375 against £210. Resolved to obtain possession of three floors at earliest date.

42^nd OGM Harcourt House 6^th July 1950. Lady Taylor not recorded as present but she proposed GBT re-election.

82^nd meeting Harcourt House, 5^th June 1951.

Profit £800:7.1 Depreciation reserve increase of £250 to £2000.

Dividend of 25% of profits.

Reletting of Goswell Road at £375 agreed.

Directors fees less tax LWT £13:15:8; CBT £13:15:8, Secretary £26:5:0.

43^rd OGM Harcourt House, 5^th July 1951,

83^rd meeting Harcourt House 5^th July 1951

The 25% dividend amounting to £598/12/12 had been made and in view of credit balance of £1416/8/3 it was decideded to invest further £5000 in Exchequer or similar stock. GBT to arrange with his broker.

84^th meeting Harcourt House Thursday 8^th May 1952.

Profit report of £731:15:0. Recommend dividend of 25% out of the profits.

Depreciation reserve further increase of £350 to £2250.

£500 of 2.5% Funding Stock 156/1961 arranged at a cost of £486-17-7. Deeds to be lodged with bankers.

Upper 3 floors of Goswell Road let to Lithofax Ltd for 7 years at £400 for 3 year + £425 for remainder, exclusive.. (Lithofax Ltd is now dissolved, but last filed accounts as recently as 2002 - hilariously reported as filled on one website).

Insurance cover on St J increased to £2500 from 22615 and Goswell Road from £4500 to £5500.

44^th OGM Harcourt House 9^th June 1952.

Secretary instructed to record that LWT was born on 29^th May 1870 (making him almost 82). Not sure why. These were the last minutes ever made by Mr Thompson.

85^th meeting Harcourt House Thursday 9^th July.

Present LWT, CBT, GBT

In attendance Ayling Solicitor, Cave Auditor, Mr GN Hannam

Draft accounts report profit of £989.4.1. Dividend of 25% recommended.

Further £250 to be added to depreciation reserve. Mr GN HAnnam to be appointed acting secretary in view of Mr Thompsons’s serious illness and possible retirement. Noted that he had been secretary since 1906. A gratuity of £100 to be paid to him on his resignation.

45^th AGM Harcourt House Thursday 13^th August 1953. Mr Thompson’s letter of resignation was read and accepted. Hannam appointed Secretary at honorarium of £50.

86^th meeting at 12 Gray’s Inn Square, Thursday 22^nd October 1953.

GBT and CBT present.

Franklin’s 800 shares being held by trustees were reissued, there being an additional trustee, now in the names of Bernard Hemmell, Douglas Herbert Fish and Dudley Steward. Old numbering of 4008-4807 was reported by Secretary as incorrect.

87^th Meeting Harcourt House, Thursday 4^th March 1954

Sorrow was record on the death of Mr Thompson.

Draft profit reported as £1121-11-7. Recommended dividen 40%!

Depreciation fund to be increased by £250 to £2750.

46^th General Meeting at Harcourt House, 22 April 1954. The minutes are in yet another hand, but no minute of those in attendance.

LWT raised matter of Fire Insurance and ?? agreed to go into the matter.

88^th Meeting at Registered Office, 3 Grays Inn Square Wednesday 12^th January 1955.

Secretary Hannam took the minutes.

Sec produced application form for repayment of 2.25% Exchequer Stock payable on 15^th February 1955.

Company seal applied to this form.

89^th Meeting at Harcourt House, 15^th March 1955.

Draft profit £1093-7-6. Recommended dividend 40%.

Depreciation fund to be increased by £250 to £3000.

It was decided to proceed with purchase of 188 Lavender Hill SW11. (These premises are currently The Golden Pie, traditional pie mash and eel shop in oh so trendy Battersea).

New Bank Mandate to Lloyds Bank Ltd, 58 High Holborn, any two directors or one directory and secretary to sign. Copy is attached to the minutes.

47^th AGM at Harcourt House 18^th April 1955.

90^th meeting at Grays Inn Square 26^th April 1955.

£500 2.5% Funding Stock to be disposed of. Seal was affixed to share transfer.

Completion reported on 188 Lavender Hill for £4650.

Overdraft facility of £3000 to be arranged against 83 Goswell Road.

91^st Meeting Harcourt Hosue 24tgh April 1956.

Though Hannam was present the minutes appear to have been written by CBT.

Draft profit £1093-7-6. 40% dividen recommended.

Depreciation fund to be increased by £250 to £3250.

Decided to recommend Ayling (Solicitor) be appointed a director at annual remuneration of 25gns.

Decided to increase Secretary’s remuneration to £75 and Auditors fees to 43 gns.

48^th AGM Harcourt House 31^st July 1956.

Apologies received from GBT.

Lady Taylor present also Brigadier Sir ACC Willway Bart

92^nd meeting Harcourt House 9^th April 1957

Draft net profit £1308-16-4. Proposed dividedn 40%. Depn fund increase by £250 to £3500.

49^th AGM Harcourt House Tuesday 21^st May 1957

Apologies GBT and Lady Taylor.

93^rd meeting 3 Grays Inn Square, Thursday June 20^th 1957.

Trustees of PBT had requested transfer of shares to

GBT – 166 shares

CBT – 166 shares

DBT – 166 shares

MCT – 2 shares.

Certificate 12 was cancelled and new certificates issued.

25 Shares to be transferred from SWT to Ayling. Certificate No 10 cancelled.

Matter of Fire insurance to be adjusted as necessary.

94^th Meeting 3 Grays Inn Square 15 August 1957.

Application received for transfer of GBT 320 shares to

Jennifer M Stones 80,

Ursula M Goulding 80

MCT 80

GN Hannam 80

Certificates 14,22,29 cancelled.

95^th meeting Harcourt House 12^th June 1958.

Death of Secretary GN Hannam reported. Ayling to be appointed Secretary at £75.

Management to be undertaken by LWT for £31-10-0. Registered Office to be moved to Harcourt Square.

Profit not reported for the first of several forthcoming years but dividend of 30% recommended.

Depreciation fund to be increased £350 to £3750.

New bank mandate to include Ayling as signatory.

Lease on 188 Lavender Hill signed to Maison Hilary (?) Ltd

50^th AGM Harcourt House 15^th July 1958.

Apolgies Lady Taylor, GBT and MCT

96^th meeting Harcourt House 25^th June 1959

Profit not reported but dividend of 30% recommended.

Depn reserve increase of £350 to £4000.

Licence to assign to HG Mann re 188 Lavender Hill confirmed and sealed.

Proposed sale of 83 Goswell Road discussed and approved but tentative sale of St J not approved. Possibility of installaing a lift at St J discussed.

Accountant advised that distribution of the proceeds of 83 would not attract tax.

97^th meeting Harcourt House 28^th July 1959

Seal applied to transfer of 83 Goswell Road.

51 AGM Harcourt House 28^th July 1959

Apologies GBT, MCT

98^th Meeting Harcourt House 21 September 1959.

In attendance were architect WJ Asburn Jones and EJ Tong of Dron and Wright (a firm that still exists)

J Feltz and Co are to surrender their lease and a new lease to be granted to a new company formed by Owen and Wells Ltd to include a passenger/goods lift.

Mr Mann was in arrears at Lavender Hill. Steps to be taken. These minutes were approved by LWT on 25^th May 1960, ie within a few days of his 90^th birthday.

99^th Meeting Harcourt House 25^th May 1960. ACCW in attendance.

Undisclosed recommendations had been made by the auditor, which were approved.

ACCW to be appointed a Director.Anthony Weldon Tubbs to be appointed Secreatary with effect from 5^th March 1960. Shares to be transferred from Ayling to ACCW.

Consideration given to request by Mr Mann of Lavender Hill for a contribution to his expense in installing a fire door was provisionally refused.

52^nd AGM Harcourt House, 5^th July 1960.

GBT apologized.

30% dividend less tax recommended on undisclosed profits.

99^th Meeting at Harcourt House, 5^th July 1960.

A one off ex gratia payment of £43 to be made re Lavender Hill to be set off against unpaid rent.

Tubbs Duncan and Osborn to be asked in conjunction with Dron and Wright to obtain estimates for installing lift at St J. Present tenants to be served with necessary schedule of dilapidations.

100^th meeting at Harcourt House on 8^th September 1960.

In attendance Mr Tong of Dron and Wright, Mr Jones of Tubbs Duncan and Osborn and Mr Tanner of Messrs Rayners.

Messrs Fay and Cowell (Pindisports) Ltd were offered lease on St, 21 years at £2400 subject to review after 14 years, or £3000 on completion of lift works, if company could finance the lift works.

101^st meeting 29^th September 1960.

Solicitors authorized to negotiate for £6000 loan at 6%, minimum of 1% over bank rate.

102^nd meeting at Harcourt House 19^th June 1961.

Lift works due to be completed by 31^st July and higher rent to be operative from about 29^th September.

Advice received to sell shareholding in Inustrial and General Trust, proceeds to be used to pay for works and reduce mortgage. Further capital repayments of £250 would allow future dividend of 30% as from 1962.

Dividend of 25% recommended after discussion and amendment of draft accounts.

Directors fees to be doubled to a total of £220-10-0.

53^rd AGM Harcourt House 14^th July 1961.

Minutes of this meeting were signed by CBT on 25^th July 1962. This appears to be the last meeting chaired by LWT.

103^rd meeting Harcourt House 6^th June 1962.

ACCW in Chair present CBT

Draft Accounts discussed, amended and approved. Dividend of 25% recommended,

54^th AGM Harcourt House 25^th July 1962.

104^th Meeting Harcourt House 15^th July 1963

Dividend of 30% approved.

975 shares held by trustees of SWT to be transferred.

GBT announced wishto resign as a director.

CBT appointed Chairman to replace late LWT.

55^th AGM Harcourt House 7^th August 1963.

CBT, ACCW, UMG, Mr MS Howard, Secretary and Solicitors.

105^th Meeting Harcourt House 8^th May 1964.

Dividend of 30% recommended. Directors Fees of £168.

Solicitor reported that a value of 45/- per share was being offered by the company to the Revenue in connection with estate of deceased shareholders.

Agreed that repayments of mortgage could be maintained at £850.

Rent cover on St J agreed.

56^th AGM Harcourt House 1^st June 1964.

106^th meeting 17^th May 1965.

Draft Accounts discussed in connection with Finance Bill Provisions. Dividend of 30% recommended. Directors fees £115-10-0.

Rent on Lavender Hill to be increased by £100

57^th AGM Harcourt House 1^st July 1965.

107^th meeting Harcourt House 28^th February 1966.

Interim dividend of 7% recommended and final dividend of 24%. Directors fees to total £115-10-0

No basis of settlement had been recommended to executors re Estate duty.

58^th AGM Harcourt House 29^th June 1966.

Final dividend of 24% approved.

108^th meeting Harcourt House 26^th July 1966.

Transfer forms had been completed re SWT trustees and LWT exors.

CBT 148 shares

Elise Tubbs 148 shares.

109^th Meeting Harcourt House 1^st September 1966.

Present ACCW, Secretary and Solicitors.

Completed forms received from trustees of SWT re their 453 shares – these to be transferred to Mrs Patience Eleanor Howard.

110^th Meeting Harcourt House 5^th December 1966.

Completed transfer forms from exors SWT

MCT 90 Shares

Jennifer 91 shares

UMG 91 shares.

111^th meeting Harcourt House 27^th January 1967

Completed transfer form from exors of Lady Taylor 1500 shares to Michael Spencer Howard.

112^th Meeting Harcourt House 10^th April 1967

Completed transfer from trustees of SWT of residual 229 shares

ET 76 Shares

UMG 77 Shares

MCT 76 Shares

113^th Meeting Harcourt House 25^th April 1967

Final Dividend of 31% recommended. Directors Fees £115-10-0

Secretary reported that deceased sdhareholders’ estates had settled on basis of 60/- per share.

Article 81 to be deleted from Arts to be in line with current practice.

114^th meeting Harcourt House 5^th June 1967.

CBT, Mr MS Howard, ET, Sec and Solicitors.

MS Howard appointed a Director.

59^th AGM 5^th June 1967.

ACCW had decided not to seek reelection.

EGM Harcourt House 5^th June 1967.

Article 81 deleted.

115^th Meeting Harcourt House 5^th June 1967.

Mrs Elise Tubbs appointed a Director.

116^th Meeting 6^th March 1968.

No interim dividend. Final dividend of 31%. Directors Fees of £191.

Dron & Wright instructed to negotiate for purchase of freehold from City Parochial Foundation.

117^th Meeting 22^nd April 1968.

60^th AGM Harcourt House 22^nd April 1966.

118^th Meeting Harcourt House 14^th May 1969.

Dividend of 31% to be paid.

Negotiations to continue on basis of offer of £3500 for freehold St J.

119^th Meeting Harcourt House 28^th May 1969

61^st AGM Harcourt House 28^th May 1969.

Final Dividend of 31% less tax to be paid.