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The Pamphlet Collection of Sir Robert Stout: Volume 74

B

B

[Copy.] Dunedin,

Dear Isaac,—

Enclosed is cheque for John's share £625, and [unclear: reciept] for his signature. Please see that the stamp is initialled. I have bad a talk with Eccles and Biss about my proposal that the four intrested cestuis que trusts should enter into an arrangement to take Bell's matter off our hands and divide the damage. Biss rather hung back at first, but he appears to be inclined to stretch a point rather than stand in the way of an amicable settlement. I was surprised that he should have met me so fairly as his estate is in very little jeopardy. He thinks—and justly too—that he should not become responsible for so large a share as the others, and suggests as the result of our deliberations that the damages should be divided into 11 shares and appropriated as follows. We will take them at £3000:—
£ s. d.
John R. Jones 3-11ths 818 3 6
Mrs Isaac 3-11ths 818 3 6
Mrs Eccles 3-11ths 818 3 6
Mrs Biss 2-11ths 545 9 6
£3000 0 0

That is, supposing that the damages were levied at so large an amount—which I think is improbable, in my opinion an additional inducement in favour of this arrangemenn is that you would have freedom to fight Bell in any manner you chose—without being trammelled by so many interests as the Trustees are. You would only have to consult own interests.

You needn't tell J.R.J. this, but Smith is of opinion that first would go the income your joint share, then the principal, and then the income of J. R. H. and Biss' share before their principal was touched. page 32 He admits that the later clauses in themselves are so [unclear: contradict] that the Court would, he thinks, on consideration decide as above.

I have overhauled the old Will and find that Mrs. Eecles was in better position than at present. She had £6000 absolutely—Meadow bank except 500 acres—the town properties, and a joint interest in the Residuary, and what is more, the entail was to her children and issue, which would include Eccles' new children.

Biss did not absolutely commit himself to the foregoing propose until he sleeps over it. You had better talk it over with John in you own way, and if he is agreeable a meeting could be arranged between you all to discuss and decide the matter.

—Yours truly,

James Mills.

P.S.—Darling got the ring out of my cake.