| Description | Sent yesterday a formal receipt for £100 relating to the estate of the late Sir William Mackinnon. From their letter of 6 June, it is not clear whether this £100 is the product of the sale of shares which the executors held on behalf of the Royal Society and which were formerly unsaleable, or whether it is the accumulation of dividends received from those shares. In the former case it would be treated as capital, but in the latter case the question as to whether it is to be regarded as capital or income seems more open. Would like some more information. |