| Description | With reference to the Messrs letter of 17 January regarding the Cavour Canal Bonds, the Treasurer wishes Harrison to say, in the absence of the Assistant Secretary, that under the terms of the trust, when the bonds are drawn the Society must purchase a similar Bond or Bonds, the profit on the transaction accruing to the Gassiot Fund as income. The Messrs do not mention in their letter whether the bonds purchased fulfil the conditions. Asks the Messrs to let the Assistant Secretary hear upon this point and the Society can then provide instruction regarding the £18-19-0 uninvested. A copy of the Gassiot Trust is sent herewith [not enclosed]. |