In the exercise of the powers conferred by the Act, the Trustees, in the course of a few years, sold all the lands belonging to the Living situate in Willenhall, and in recent years a piece of land containing 1 rood and 23 perches, forming part of the Freehold land at Bentley, has also been sold and there now remains at Bentley, belonging to the Living, nine pieces of land, containing a total area of 30 acres and 27 perches, which, for several years prior to Mr. Fisher’s death, produced a rental of £20 per annum.
The primary provisions of the Act with regard to the moneys to arise from sales and leases under the powers thereby conferred were: (a) That the moneys should be let out and invested under the direction of the Court in the purchase of Freehold hereditaments or Copyhold hereditaments convenient to be enjoyed therewith; (b) that the premises purchased should be conveyed unto the Trustees for the time being of the Charity and held upon the Trusts, upon which the hereditaments sold would have been held in case the same had not been so sold, and the Act had not been passed; (c) that until the moneys should be so let out
and invested they should be invested in Parliamentary stocks or Funds of Great Britain in the name of the Accountant-General; and (d) that the annual produce of such funds should be applied to the person and for the purposes to which the rents of the trust lands would have been applicable.
In the exercise of the trust for purchasing lands conferred by the Act, the Trustees subsequently purchased the property in Walsall Street, adjoining and near to the Churchyard, including the site of the new Schools there, and also two Cottages and some gardens and land at Shepwell Green. The latter property has since been sold off.
Reverting to the question of the value of the Living, it may be mentioned that in the year 1886, when the Shepwell Green property and the small piece of land at Bentley were still in hand, the gross income from the Living, apart from Surplice Fees, was £792 7s. 9d., made up as follows:—
| £ | s. | d. | |
| Rents | 194 | 2 | 8 |
| Dividend from £19,941 16s. 8d., 3 per cent. Consols | 598 | 5 | 1 |
| £792 | 7 | 9 |
The effect of the “Goschen” Act of 1888 was ultimately to reduce the Dividend on the Consols by 1/6th, and, consequently, the gross income of the Living, apart from Surplice Fees, stood a few years afterwards at £692 13s. 7d., made up as follows:—
| £ | s. | d. | |
| Rents | 194 | 2 | 8 |
| Dividend from 2½ per cent. Consols | 498 | 10 | 11 |
| £692 | 13 | 7 |
This statement brings matters up to date (1907); the tithes are still impropriate, a rent charge of £540 being receivable by Lord Barnard in succession to the Duke of Cleveland. The tithe-owner in Bentley is the Earl of Lichfield.