In 1507, the half-acre of land on which James Carr, capellanus, had built his school had been leased for seventy-nine years for a yearly rent of "xijd. of good and lawfull moneye of England," and when the seventy-nine years were up, the lease was to be renewable on a payment of 6s. 8d. Clearly it had been renewed in 1586 but no record remains. In 1610 "on the ffourteenth daie of December, Sir Gervysse Helwysse and Sir Richard Williamson were owners in ffee farme of the Rectorie and Parsonage of Giglesweke." Durham had ceased to possess it, on the Confiscation of Finchale Priory, and in 1601 Robert Somerskayles had bought it of the Crown.

Sir Gervysse Helwysse and Sir Richard Williamson "in consideracion of a certeyne somme of money to them in hand paid, but especially at the request and mediacion of the said Christofer Shutt" sold "all that house comonly called the Schoolehouse in Giglesweke afforesaid and that close adioyneing therto, called the Schoolehouse garth, parcell of the said Rectorye."

The amount of the "certeyne somme of monye" is not declared. The land now belonged to the School, but the xijd. yearly had still to be paid as part of the fee farm rent, payable for the Rectory to the King's majesty.

The next important bequest comes from Richard Carr, Vicar of Hockleigh in Essex, who died in 1616. He was a great-grandson of the brother of James, the founder of the School. The family interest was maintained and at his death he left a house in Maldon, called Seely House Grove, with all its appurtenances to his wife Joan and after her death to the "Societye, Companie and Corporation of Christe Colledge in Cambridge." He also bequeathed direct to the College "a tenement at Hackwell alias Hawkwell in the Countie of Essex called Mount Bovers or Munde Bovers."

These lands "during the naturall life of my foresaid wife, Joane" were to be used for the provision of five Scholarships at £5 apiece and after the death of Joane the whole estate was to provide eight Scholarships at £5, and two Fellowships at twenty marks (£13 6s. 8d.) apiece. The Scholarships were to continue until the holder had time to "commence Master of Arts," if he abode so long, and the Fellowships until they had time to "commence Bachelor of Divinitie."

The Scholars had to be born in the parish of Giggleswick or be children "lawfullie begotten of my brother-in-law, Robert Thornton and my sister Jeanet, his wife, in the parish of Clapham and of their children's posteritie for ever." They must have been brought up in the free School of Giggleswick and were to be "chosen from the poorer sort though they be not altogether so learned, as other scholars, who have richer friends." If any of the founder's kin were not immediately ready for the Scholarship, it could be held over for one year and the amount for that year distributed among the Sizars of the College. Never more than four of his kin might hold the Scholarship at one time.

The Fellowships were to be offered to his two nephews "Richard Carr, now of Peterhouse, and Robert Thornton, of Jesus Colledge in Cambridge." If they should be unable to accept them the "Maister and Fellowes of Christe Colledge" shall elect fellows from the number only of those "who have or at least have had some of the aforesaid scholarships and none other to be capable of them."

The College Authorities were asked to provide convenient chambers and studies for both Fellows and Scholars and to account them as Fellows and Scholars of the College.

In consequence of the provision that the Scholars were to be elected from "the poorer sort" an agreement was made in 1635 by which those elected were allowed to receive the £5 and yet go to another College. For £5 was quite inadequate and at Christ's "by reason of the poverty of the holders, no Fellow is found willing to undertake for them as a Tutor in respect of the hazard thereof." Tempest Thornton is the only name recorded as a Giggleswick Fellow and he held office in 1625. The reason why no other was ever elected is given in a letter from Thomas Atherton, Fellow of Christ's, written May 29, 1718, to Richard Ellershaw, Vicar of Giggleswick, in which he says that it was "owing to our having lost that part of the Estate thus bequeathed us called Seely House Grove, which was sued for and recovered a great while ago by some or other that laid claim to it."

The farms in Hockley and Maldon are still in their possession and one of them retains its name, Munde Bowers. Never more than six Scholarships a year had been given and in 1718 the income was £31 a year. In 1890 there were apparently two Carr Exhibitions of £50 a year each, while at the present day there is one of £50 tenable for three years, but it is possible that in a few years another Exhibition may be given occasionally.