ON PAWNBROKERS (IRELAND).
31 said > his executors, administrators and assigns, at Mr.
Davglas the expiration of calendar months, after notice in writing for that purpose shall have â€ž been served upon us the said Trustees of the stud establishment for Ihe time being, or left
with our secretary at the office or usual place of business of this establishment; and in l
the meantime that, out of the capital stock, funds and property aforesaid, interest on the said principal sum of at the rate of six per centum per annum, shall be repaid to the said ,
his executors, administrators and assigns, by half-yearly payments on the day of and on the day of ,
until the said principal sum of shall be repaid : Provided always, that nothing herein contained shall have the effect of making us or any of us individually responsible in person or property for the payment of the said principal sum of and the interest due thereon, this present security being executed by us solely as such Trustees as aforesaid of the said establishment, and for the purpose of charging with the said principal sum and interest all and every the present and future property of the said establishment.
( In witness whereof we have hereunto affixed our names and seals this day of in the year of our Lord
Who is that signed by ?â€”That
debenture is signed merely as matter of form by three of the directors.
Barrington's name always attached, as one of the directors ?â€”Not
The debenture bears, that the persons who sign the debenture are not personally liable for the interest, but that the interest is only recoverable from the profits derived in the institution ?â€”That
meaning is borne clearly; in the body of the debenture.
Is 2,500 I.
the amount of the capital you have at present in the institution ?
â€”By no means.
From what other sources have you derived it?â€”Subsequently
to the period I mentioned, of public advertisements in the newspapers, and upon which advertisements appearing, 2,500 /.
was paid into the Provincial Bank of Ireland, we have since that period received about 3,600 I.
besides, also paid in to the credit of the directors of the Mont de Piete.
For which debentures have been issued?â€”Yes,
making in all the sum of 6,100/.
Does that money go partly in payment of the expenses of the building and fitting up of the establishment, or is it ail laid out in loans?-It
is all laid out in loans ; the intention is to lay the whole of that money out.
The exÂ¬ penses, naturally, the first year of a concern, must be borne out of its capital, till a profit is realized.
It is all laid out in loans and expenes ?â€”In
loans and securities, and expenses ; it is not all laid out yet, but the money that has been drawn from the bank from this account has been expended in loans and expenses.
Can you state what has been the expense of building and fitting up the establishment ?â€”There
are some of the accounts that have not been handed in to me by Mr.
Barrington, in whose possession they are, but as near as I have been able to collect the accounts and to ascertain, it has cost about 3,0001, or a little more.
Barrington advanced that out of his private purse.
Does the institution pay any rent to Mr.
Barrington for the occupation of the premises ?â€”Not
any ; Mr.
Barrington will take debentures as soon as the exact amount that he has advanced can be ascertained.
I shall then prepare debentures for him, for which he will receive interest till the establishment is able, out of its profits, to repay the principal sum he has lent to it.
What should you say would be a fair charge for the ground-rent and rent of those premises, upon which 3,0001 has been expended in their erection and fitting up, calculating the rate at which house-rent is usually charged In Limerick ?â€”About
a year, I should think.
What quantity of ground do they occupy ?â€”A
very small space; it is a mere comer adjoining Barrington's Hospital, comprising a superÂ¬ ficial area of perhaps of 100 feet one way by 80 another.