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The Pamphlet Collection of Sir Robert Stout: Volume 84

12, Earls Court Square, September 17th, 1884

12, Earls Court Square,

My Dear Sir,

Re Directors' Fees.

You are seemingly labouring under some mistake. The Directors' fees are a debt under seal and take priority over ordinary debts due by the Company. By the Articles of Association the Directors are entitled to £3,000 a year.

So far as I know, Sir Julius Vogel never relinquished his own or his Co-directors' fees, and speaking for myself alone, I never authorized him to relinquish my claim on the Company. I shall be glad to receive a cheque for the amount due to me.


(Signed) Howard Spensley.

Chas. Curtoys, Esq. Secretary, Consolidated Telephone Company, Limited.