Bedfordshire Archives Service Catalogue
  • Reference
    X95/357/35
  • Title
    From: Edward Tewson of Debenham, Tewson, Farmer & Bridgewater, auctioneers, surveyors and land agents of 80 Cheapside, London EC To: Thomas Sworder of Luton [note flimsy paper and faint text make this difficult to read]
  • Date free text
    8 Mar 1897
  • Production date
    From: 1897 To: 1897
  • Scope and Content
    From: Edward Tewson of Debenham, Tewson, Farmer & Bridgewater, auctioneers, surveyors and land agents of 80 Cheapside, London EC To: Thomas Sworder of Luton [note flimsy paper and faint text make this difficult to read] "I have the pleasure to report that I have today had a long meeting with Mr.Green and his agent Mr.Peyer and your solicitor Mr.T.J.Sworder & that we have finally agreed terms for the disposal of the Brewery subject to your approval. The price to be £100,000 subject to a valuation of the items as mentioned in the sale particulars viz the machinery, fixed and loose plant, rolling stock, horses, drays, fixtures and effects at the Brewery, at the Mineral Water stores, at the Malting, at the stables, at the Luton Wine Co's stores & the fixtures in the various licensed houses. Also the Book debts, stock of malt, hops, beers, wine, spirits & aerated waters. A deposit of £10,000 to be paid on the signing of the contract. The sale to include the "Dew Drop" subject to the contract which you have entered into for the sale thereof & for taking the Lease. You are at once to rebuild the "Plough" so that the work may be in hand if not finished by the [unreadable] Sessions (Mr.Green says if this is not finished or, at ell events, commenced there will be a difficulty in getting a renewal of the licence), you to complete the stabling at The Bell. Half the purchase money to be left on 4% Debentures at par, these being part of £125,000 which will be raised on Debentures on the two properties i.e.: - the whole of your properties and the whole of Mr.Green's properties provided the rules of the Stock Exchange will allow so much as £50,000 to be allotted. It is believed that these rules will limit the allotment to one third of the £125,000. You are, however, to have as much as the Stock Exchange rules will allow and Mr.Green will give you a private letter undertaking to make up the amount to £50,000 to be allotted to your nominees if you so require it. You are to have the nomination of one Director in the new Company the number of Directors not to exceed five. The valuations to be taken as from the 1st day of May 1897 (the full amount to be paid as soon as these are completed) from which date the business is to be taken over by Mr.Green under an agreement that he is to be a tenant at will at a nominal rent without prejudice to the contract. Interest of 4% to be paid to you on the balance of the purchase money of the properties as from the 1st of May 1897 until final completion, which final completion shall not be later that the 24th of June 1897. I am sorry that you were unable to be present to-day, but I think your interests have been well safeguarded and I trust the terms will commend themselves as satisfactory to you. I am sending by Mr.T.J.Sworder's request a copy of this letter to him and he will set about the preparation of a formal contract. If there be any points which you think if necessary to provide for in the contract perhaps you will write direct to Mr.T.J.Sworder. I hope you are better and that this settlement of terms will relieve you from a certain amount of worry and lead up to a proper competion of the business".
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