Reference
D95
Title
Copy of Letter from Mr Blood to Philip Monoux Payne on attaining his majority.
Date free text
Papermark 1878. Note Sir Philip was born on 30 December 1858, so letter c1879-80
Production date
From: 1879 To: 1880
Scope and Content
Lists in good detail sources of income (including property let) "In consequence of there being no cash available at your Father's death". Mortgages were raised £7,444 15s 3d in favour of Settlement Trustees (ceases now Philip inherited estate fully). Mortgage on Berry Farm of £4,178 10s. Debts to Mr Blood (£2523 18s 11d), Mr Church (£1000), Miss Hanbury (£700), and Tradesmen (£4923). Left with debts of £13,902 9s 8d. Accumulations of £5000 + for money invested till Philip 21 (-maintenance). Sister entitled to £1583 3s 6d. Mortgage charge now will need to be £9000 (try to get it down till 21). Income due on 1 January £2400 (includes West Indies £600), deductions £670, Balance due £1430. Cannot calculate any larger budget "so you will see how important it is that you should keep to your resolution to live as quietly as possible for some few years longer, or at any rate until we get control of the Reversionary property when of course your income will be proportionately increased".
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Level of description
item