Letter from L.V. Fildes, to Mr Cole, Lever House outlining the legal case regarding...

Letter from L.V. Fildes, to Mr Cole, Lever House outlining the legal case regarding Mr Ward's Co-Partnership Certificates. As the China Company, who employed Mr Ward, did not make any profit, no dividends were paid on Mr Ward's Partnership Certificates since January 1923. Mr Fildes goes on to explain that the late Lord Leverhulme was in the habit of issuing ex-employees of Associated Companies the full amount of of their Partnership Certificates, regardless of whether or not their Company might not have paid dividends for each of the three preceeding years. The late Lord Leverhulme was dealing with his own property and the present Lord Leverhulme and the Trustees of the late Lord Levehulme's will are bound by law to view things differently. Mr Fildes cites former cases where the Trustees followed the late Lord Leverhulme's practices after his death e.g. W.H. U'Ren and W.H. Dillon of the Millbay Company and C.H. Arnold of Wilkie & Soames who were allotted 1925 Preferential Certificates equal to the full amount of their Partnership Certificates. Mr Fildes goes on to say that the Trustees course of action does not set a precedent and that, legally, Mr Ward is not entitled to a Preferential Certificate. 1 September 1927 [For related correspondence, see catalogue entries GB1752.LBC/136/200 and GB1752.LBC/136/201]

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