Scope and Content
Item previously catalogued with nine others as "Nine papers including statements of cases, abstracts of title, and lists of properties, several throwing light on history of firm, 1853-89"
Statement of case regarding potential partnership for Thomas Sworder of Luton:
- Thomas Sworder [referred to throughout as AB] purchased Frederick Burr's old brewery in Luton from Edward Burr and Richard Hatley Crabb along with 33 public houses in 1858 for £38,750;
- 3 public houses, valued at £2,000 had been sold reducing purchase money to £36,750;
- of the £36,750, 22 public houses valued at £24,400 were let on 10 year leases from Michaelmas 1862 to William Anstee, John Cook and Benjamin Bennett at a 5% rent on the whole sum of £24,400 [i.e. £1,220 per annum];
- Anstee, Cook and Bennett also held 4 houses valued at £5,650 on yearly rents totalling 5% or £282/10/-; these houses form part of the £36,750 purchase;
- the property still left in Sworder's hands therefore amounted to £6,750 and comprised the old brewery and Crown, Dunstable together valued at £7,500, but the old brewery had, since 1862, been dismantled and was not worth so much;
- Anstee, Cook and Bennett also held the following property, not part of Sworder's purchase from Burr and Crabb: Bedford Road Brewery, Crown & Anchor and Bute Arms which cost Sworder £7,200 but which were let on lease at £350 per annum for 10 years from Michaelmas 1862;
- Anstee, Cook and Bennett were also tenants of Sworder for the following houses: Saracens Head, Dunstable; Red Lion, Stanbridge; White Horse, Dunstable; Wagon & Horses, Luton; Woolpack, Luton; Wagon & Horses, Barton-le-Cley; Balloon, Caddington; Ewe & Lamb, Dunstable; Cock, Dunstable; George, Dunstable; Unicorn, Houghton Regis; Waggon & Horses, Caddington; Crystal Palace; Red Lion, Luton; Railway Hotel, Dunstable;
- Anstee, Cook and Bennett thus held 49 public houses from Sworder, besides the Bedford Road brewery;
- Thomas Sworder of Hertford [called CD throughout] had been a brewer for some years prior to 1862 but in Oct of that year was obliged to make an assignment for the benefit of his creditors and Anstee, Cook and Bennett agreed to pay the creditors 5/- in the £ on having the before mentioned leases for 10 years with very strong powers enabling them to carry on the business for the purpose of repaying them their whole debts with interest at 5% and recouping themselves 5/- in the £ paid to the creditors. Most creditors were paid 5/- in the £ and the account with Anstee, Cook and Bennett up to Michaelmas 1866 and 1867 was:
Balance Account Oct 1866
Creditors: £259/0/10;
Creditors for goods: £3,804/7/1;
Creditors for rents: £1,022/13/8;
John Anstee: £5,566/14/-;
William Anstee: £1,578/5/8;
John Cook: £4,081/6/8;
Benjamin Bennett: £4,408/17/-;
Gutteridge: £700;
Stock account: £6,762/12/3;
Profit & Loss: 898/4/6¾;
Barley account: £980/3/6;
William Anstee barley: £476;
John Anstee barley: £111/17/6;
Seabrook: £19/6/0
Total: £30,669/8/8¾
Cash in hand: £66/2/6;
Cash at bank: £2,004/0/6;
Stock of beer, spirits, malt etc.: £5,238/15/0¾ ;
Moving stock: £4384/9/4;
Fixtures etc.: £2,306/15/6;
Debts, public rents: £2,170/5/7;
Debts, private: £6,161/11/0;
Debts, public: £6,769/0/6;
Franklin's & Rose & Crown property: £1,250;
Debtor accounts in bought ledger: £14;
Error unaccounted for: £304/8/9
Total: £30,669/8/8¾
Balance Account Oct 1st 1867
Creditors for composition: £259/0/10;
Creditors for rent: £784/9/3;
Creditors for goods: £1,926/9/3;
John Anstee: £6,674/8/9;
William Anstee: £3,423/2/11;
John Cook: £5,109/2/1½ ;
Benjamin Bennett: £6,301/9/2½ ;
Gutteridge: £700;
Stock account: £8,552/8/10¾ ;
Profit for 6 months: £687/15/3¼
Total: £34,418/6/6
Cash: £62/1/6;
Stock spirits: £1,832/5/1;
Stock beer: £808/7/6;
Stock sundries: £53/11/4;
Stock hops: £733/0/2½ ;
Stock malt: £1,023/3/-;
Stock wine: £1,759/2/-;
Moving stock: £4,384/9/4;
Fixtures: £1,222/15/6;
Furniture: £700;
Charles Sworder: £384;
Debts public: £7,128/5/1;
Debts rents: £2,449/8/8;
Debts private: £6530/0/9;
London & County Bank: £3,458/10/5;
Franklin: £250;
Rose & Crown and Green Man: £1,000;
Antelope: £500;
Piggott: £0/16/5;
Error: £138/9/8½
Total: £34,418/6/6
From this account the total sums due were as follows:
- John Anstee: £6,674/8/9;
- William Anstee: £3,423/2/11;
- R.Cook: £5,109/2/1;
- Benjamin Bennett: £6,301/9/2;
- Gutteridge: £700
- Total: £22,208/2/11
The whole assets amounted to about £34,400 appearing to leave a balance in favour of the business of about £13,000 "but then Mr.Bennett says the Book debts he should roughly estimate at half their value and he adds that they have increased £7,000 or £8,000 since 1862 why this should have been the case he does not explain and it really looks like bad management on his part, for he has had the entire control since 1862 and should have kept down the debts due to the Business as closely as possible and by consequence the principal and interest due to Anstee & Coy also.
But suppose we strike off half the £13,000 for Bad debts and general depreciation, there would still remain an apparent balance of £6,500 in favour of the Business.
And supposing all the old Creditors of the Concern were paid their 5/- in the £ and all the Current Creditors their full debts & Messrs Anstee & Coy were paid their full debts and all principal monies advanced by them, with interest, that surplus or sum of £6,500 would be payable to the said CD according to the terms of the Trust Deed. But as that cannot be done without selling off the whole personal assets of the concern which would ruin the business.
And supposing all the old Creditors of the Concern were paid their 5/- in the £ and all the Current Creditors their full debts & Messrs Anstee & Coy were paid their full debts and all principal monies advanced by them with interest, that surplus or sum of £6,500 would be payable to the said CD according to the terms of the Trust Deed. But as that cannot be done without selling
continued off the whole personal assets of the concern which would ruin the business. And it is wished to bring the affairs of the Trust to a close if possible at once, instead of waiting til the end of the Lease for 10 years. it is proposed that CD should be all together bought out of the Concern and that AB and Mr.Bennett should form a Partnership.
It should not be forgotten that all the Public Houses and Brewery property are heavily mortgaged and that AB has only an equitable estate in fee in them subject to the Mortgages, and that although it is believed that the Brewery purchased of Burr & Crabb was purchased much too dear that AB is in consequence suffering a very heavy loss yet he contends that no one could have bought so fine a property (all Freehold except one house) so well situated for Business the greater part of which is in a large Town of near 20,000 Inhabitants and the other in a considerable Town for Business and the whole within a Radius of 5 miles as near as may be, with good will &c. without a great loss. But to shew the soundness of the trade then carried on AB was not compelled to take the Public House Book Debts consisting of several thousand pounds or any otherdebts, and the whole or nealry the whole of which were got in by Burr and Crabb without any difficulty and in a very short time. AB therefore contends that as the owner of all these Houses and as he can at the end of the 10 years lease, carry on the Business withour reference to CD or any one (for CD has sold all his interest in all the property to AB, subject to the mortgages thereon) he (AB) has a claim either to a share in the proposed new partnership for nothing, or that he should be paid for his loss on the purchases he has made but the better to effect this without raising additional Capital he thinks, would be for all the Brewery property to be conveyed to the New Partnership, subject to the charges &c. just at the times they were conveyed to AB and that AB should have a half share in the new partnership as a compensation for good will of the whole Brewery and Property.
The questions for consideration before entering into a New Partnership are.
1st. Whether CD is fairly entitled to the said sum of £6,500 on giving up all Interest in the whole Brewery Estates and personal property to AB and BB and if not to what other sum.
2nd. To what share (if any) in the Brewery is AB fairly entitled to as owner of all the Public Houses and of the Bedford Road Brewery.
3rd. What compensation AB is fairly entitled to (if such share is not given him) for the loss he will sustain in having purchased the property of Burr & Crabb.
4th. What share in the whole Brewery Property would BB be fairly entitled to, if the whole Capital of Anstee, Cook & Bennett be left in the Brewery, as it now stands (presuming for this purpose that their accounts are correct) and that CD is paid off out of the new Partnership Property"