| Description | Draft Case, submitted for counsel's (Mr.Bowers) opinion: questions concerning procedure for carrying out terms of Will (5 February 1791) of Peter Downes Esq., dcsd., which bequeathed an estate in freehold and copyhold lands (the manor or lordship of Worth, lands in Butley, Butley Hall, lands in Worth, Pointon [Poynton], Shrigley alias Pott Shrigley, Boll'n (or Bollington), Rainowe (or Rainow), and Hurdsfield in the Co'y of Ch'r [Chester?]), to the Rev.Henry Offley Wright clerk, and Lawrence Wright Esq., his son, executors, in trust for 1,000 years to the intent that they should raise therefrom by rents, profits, lease, sale or mortgage, to cover Peter's debts, funeral expences and legacies, and to raise £9,000 for the portions of Peter's younger children Bridget, Sarah and Peter, to be given them at 21 years or marriage in the girl's case, and at 21 in the boy's, meanwhile to be credited with interest at 5 per cent out of the issues. It is pointed out in this Case, that the personal estate at Butley Hall will cover funeral expenses probate and minor legacies. But the annual income from the real estate totals £2,076. 2. 6. against annual interest dues of £1,570 on mortgages: and the realisable value of parts of the estate to be sold (in Worth, Butley, Hurdsfield, Shrigley [Pott Shrigley], Rainow, Bollington) is £42,000 against capital debts of £32,400 (Creditors on mortgages are Isaac Wilkinson Esq., in £6,000 on Worth; Mrs.Elizabeth Jodrell in £10,000 on Shrigley; Mr. Jno. Brocklehurst in £3,000 on Rainow and Boll'n; sundry persons under Bond £2,000; legacies £11,400). These leave an annual surplus of £506. 2. 6. or alternatively a capital sum of £10,000. The trustees fear they cannot provide for the maintenance of the younger children, or settle the capital debts, if the rights of the eldest son, William Downes, are to be satisfied, and seek advice on their legal position.
English
Mark: None Dra:Case upon Mr Downes's Will/For Mr.Bowers's Opinion |