WY1006/1

Letter to William Stuart from Messrs Corkinson, Lincolns Inn Fields.

30 Oct 1850

From: 1850 To: 1850

William is a trustee [with others] under the marriage settlement of Granville Penn and Isabella. In 1845 the trustees sold part of the trust funds and lent it to mr Granville John Penn on mortgage of his Stoke [Poges] Park estate. On the sale to Mr Labouchere in 1849 this fund [now £13,326 18s 8d] was paid out of the purchase money to the trustees, and left with Mr Penn with the intention of his securing it otherwise, though this has not been done. The sum belongs to the present Mr Penn and his brother and sisters. The writer proposes that they should release the trustees from all responsibility and that Mr Penn should give his brother and sisters a security for their shares. William is also a trustee under the Will of Lady Juliana Penn, of £6857 2s 11d of South Sea Stock. This stock was sold 26 June 1847, and the proceeds of £5931 8s 6d were lent to Mr Penn on a second security on his estate at West End, Stoke Poges, purchased from Mr Wilmer. There are prior mortgages on this estate to Mr Boydell of £5,000 and £3,000. There is £4,050 which is part of the proceeds of the sale to Mr Labouchere entailed by the Will of John Penn, and the present Mr Penn and his brother and sisters have life interests. Mr Gordon Forbes is jointly liable with William for the £13,326 18s 8d. The writer hopes to get William relieved from the £13,326 18s 8d and £6857 2s 11d, but is not in a position to be confident of this. Some security will be required for the £4,050.

item

Stuart, William,
Corkinson,
Penn, Granville,
Penn, Isabella,
Penn, Granville John,
Labouchere,
Penn, Juliana,
South Sea Company,
Penn, John,
Forbes, Gordon

legal correspondence, trustees, Stoke Poges, South Sea Company, trusts