Copy endorsed T.S. Eyton, of correspondence relating to the Eyton estate

C.T. Arnold, 3 Whitehall Place, TO Eyton He does not feel satisfied with the idea of Eyton taking upon himself so large a responsibility as the additional charge of £20,000 on the Eyton estate.

Assuming the rental of the estate to be £3000 p.a., they have to deduct interest on the charges which must in any case come into operation on his father's death the interest of £16000 at 4% and his mother's jointure £400 - £1040 outgoings, leaving a rental of £1960. It is now proposed to burden this remainder with the interest of £20,000 which at 4% is £800, so that the net rental he would have would be £1160. In return for this great sacrifice he would receive an annuity which as between father and son cannot be called any consideration for what he is asked to do as it is no more than a Father would generally allow his son in such a position - he would also receive the policies on his father's life which if properly kept up and finally paid without dispute would give him £7000, and this is all, as it seems unlikely that the Bank share can be safely transferred to him.

(2) 5 October, 1863 [should be 1865 - see next letter]

Loxdale and Peele TO (Arnold and Green) With the consent of Mr. T.C. Eyton they forward a copy of the settlement on his marriage, The proposal to Mr. T. Slaney Eyton is that he should concur in raising the sum of £20,000 to be applied in discharge of the present liabilities of Mr. Eyton, which includes a sum of £5325 due to Capt. W. Eyton which was borrowed from him to purchase certain tithes and also sums to the amount of £8,000 in part security for which Mr. Eyton has assigned certain policies on his life amounting to £7000. Mr. Eyton states that he has expended in the improvement of the house and premises and in permanent works on the estate a sum of nearly £10,000. It is proposed to assign these policies of assurance for £7000 and also the Bratton tithes in trust to be applied in part discharge of the sum to be now raised Mr. Eyton is also possessed of a deposit in the Bankers firm of which is is a partner of £6000 and so far as he can properly do so he will be willing to make this available towards the ultimate further reduction of the mortgage debt, but there is some difficulty in dealing with this money with reference to Mr. Eyton's position as a partner. The rental of this estate is £3229.1.0. It is at present charged with monies raised for younger children under his father's settlement of £4,800 and of £6,950 raised under a decree of the Court of Chancery. Mr. Eyton proposes to covenant to pay Mr. Slaney Eyton £300 a year during his (the father's) lifetime.

3. 11 October 1865

G.A. Crawley Arnold and Green TO Messrs. Loxdale Beel and Son. They thank them for the letter of the 5th and copy settlement They feel the greatest difficulty in dealing with the terms of Mr. T.C. Eyton's proposal to his son, they are anxious to meet them, but feel that they proposals are as they stand wholly inadmissable and if agreed on would not be enforced by a Court of Equity. Mr. T.S. Eyton is asked to burden his future estate with £20,000 in addition to the heavy charges on it which at his father's death will amount to £16, 750 besides his mother's jointure of £400 p.a. From this sum of £20,000 may be deducted £5325 representing the purchase money of certain tithes not in settlement, for which Mr. T.S. Eyton will be ready to aid in paying on their being added to the settled estate. The deduction will leave £14,675 against which, unless the Bank share of £6000 can be made safely available, it is only proposed to place the value of policies on Mr. T.C. Eyton's life amounting to £7000, leaving £7675 to be borne by Mr. T.S. Eyton's future estate. They make no remark on the possibility of any difficulty arising in obtaining payment of the policies, but taking them at their full value, there is no consideration at all in the legal sense given to Mr. T.S. Eyton for the £7675 with which he is asked to burden the estate, for the annuity of £300 cannot count (legal opinion to this effect quoted). Mr. T.C. Eyton received from his father an annuity of £600 for doing much less than he now asks his own son to do and obtained portions for younger children and power to jointure a wife. It seems to them equitable that the annuity should be increased and continued in the form of a jointure to a wife if he should die in his father's lifetime and that the Bank share should be made available. On these terms they would be prepared to advise Mr. T.S. Eyton to concur in any arrangement which left him tenant in fee simple of the Eyton estates subject to his father's life interest and to previous charges including the £20,000, regular payment of premium on the policies to be secured. They think that under the new Partnership Amendment act the £6000 might be converted into a loan with participation in the profits, which might then be assigned. They ask for a detailed particular and rental of the estates and an assurance that there are no other encumbrances which can affect the estate on Mr. T.C. Eyton's death.

4. 11 October

C.T. Arnold TO T. Slaney Eyton, Walford Hall. He incloses copies of letters which have passed between himself and Mr. Peele, and until some progress is made advises him to say little about his marriage, as the knowledge that he had actually settled upon it might affect very considerably his father's inclination to enter into his views, he might think that as T.S. Eyton was bound to marry in a certain time, he must necessarily yield to his wishes in order to obtain an income.