How People Manage Things in Manchester, or Sir E. An. as a Trustee (Classic Reprint)

How People Manage Things in Manchester, or Sir E. An. as a Trustee (Classic Reprint)

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Excerpt from How People Manage Things in Manchester, or Sir E. An. As a Trustee
After his death and burial, the question of the purchase of the business was revived. Mr. S. B., banker, of Manchester, was left as the Trus tee to the estate of Mr. W. B.; Mr. J. B. Of Mount B., was the surviving partner, and the second son of Mr. Alderman B. He had on his hands to deal with two estates and their Trustees. If the Trustees did not pull together, how dangerous was his position. He entered' into an understanding with Mr. S. B. To pay out of the concern, at certain dates, the money belonging to the separate estate of Mr. W. B.; he elected to purchase the business of his father upon the terms speci fied in the will. The death of Mr. W. B. Having in the mean-time elapsed, and the period having passed over during which the option was permitted to be exercised for the purchase of the business, the Trustees refused to agree to allow Mr. J. B. To have the business. Sir E. A. Shrunk from the responsibility of breaking up the business Mr. S. B. Urged upon Sir. E. A. To do so - he wished to avoid the odium attached to such a course of proceeding. The Court of Chancery was appealed to, 'and permission obtained to sell the business to Mr. J. B. After the sanction of the Court of Chancery was obtained, Sir E. A. Requested that Mr. W. B. Might be allowed, at a salary, to conduct the business at the Manchester end, and thus, virtually, have the Trustees embarked in the business. Mr. S. B. Decidedly condemned this proposal; and after it was agreed upon, refused to be the banker of the concern, as it was a course of action contrary to his Opinion Sir E. A. Insisted so positively upon this appointment, that although Mr. J. B. Was exceedingly unwilling to do anything contrary to Mr. S. B.'s opinion, Sir E. A. Was allowed to have his own way. Sir E. A. Intro duced Mr. J. B. To the Manchester and Salford Bank, and the Man chester and Salford Bank, in conjunction with the Bank of England, were the bankers for the concern. All went well as long as Mr. J. N. Lived; the business prospered, a great deal of money was made, the business was extended, and there was every reason for congratulation and thankfulness.
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Product details

  • Paperback | 38 pages
  • 152 x 229 x 2mm | 64g
  • United States
  • English
  • black & white illustrations
  • 0243080255
  • 9780243080250