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Post date: Feb 27, 2015 6:36:13 PM
(Kent archives U3555/2/L/Ba2/1)
[There follows a highly selective and condensed summary of the Frederick Leney Board Minutes from the public flotation in 1896. Debenture related matters from the minutes are summarised but transfers of debentures from one holder to another are not. There are frequent property transactions minuted as they required the use of the seal but the minute usually gives limited detail so only some are summarised. No financial information is minuted as presented to the board until 1917. Very little general business information is covered until Augustus Leney’s death in 1915 (an exception is a quality issue in 1912). Apart from the first two meetings most board meetings would have been held at the company's registered office in Wateringbury.]
Board Meeting 17 Jan 1896
(held at Old Jewry London; present A.&E Leney, H. Green, R.Tapply)
Resolved to create £120,000 of 4% First mortgage debentures and issue £100,000 plus £5,000 preference shares.
Messrs Wigan Mercer &Co. [of Maidstone] appointed bankers of the company and their London agents Messrs Smith Payne & Smith authorised to receive applications for Debentures and Prefs.
[reference to prospectus of same day’s date].
Board Meeting 28 Jan 1896
(held at 11 Queen Victoria Street, London; present A.&E Leney, H. Green, R.Tapply+ W.J. Mercer+ E. Garside+Secretary, A. Starmer)
Resolved that Phoenix Brewery Wateringbury be the registered office of the co; A.Leney to be chair; A. Leney and R.Tapply to be Managing Directors; A. Starmer be Secretary; Messrs Wigan Mercer &Co. appointed bankers; cheques to be signed by one director and countersigned by secretary; Messrs Godden, Tow & Holmes appointed solicitors; Messrs Collins, Tootel (?) &Co of 11, Queen Street, London appointed auditors; Messrs MacFadyen Mercer, brokers, instructed to apply for a stock Exchange quotation for Debs and Prefs. Agreements with A.Leney and R.Tapply of 17 Jan 1896 be sealed.
Secretary submitted lists of applications totalling £200, 950 for Debs & £135,790 for Prefs. Letters of allotment and regret, where no allotment, to be issued. M.Ds to proceed towards paying off the mortgages and incumbrances on properties. Company to set aside a fire-proof safw under double lock & key held by trustees for debs holders for mortgages.
A.L. reported sale of Eastbourne leasehold sstores for £250.
Saturday 1st Feb 1896 all allotment and regret letters posted at Wateringbury Post Office.
Board Meeting 13 May 1896
(at the Office, Wateringbury, present A. Leney, H. Green, R.Tapply+ Secretary, A. Starmer).
Mortgage Deeds to be lodged at bank in strong room.
[various board meetings to approve transfers and issue new certificates.]
Board Meeting 11 June 1896
(at the Registered Office, present A. &E. Leney, H. Green, R.Tapply+ Secretary, A. Starmer).
Resolved: that conveyance of prporties by A.L to Co be approved; conveyance of RedHouse, Beer House and land and cottages at Yalding by A.L. to A.S. as trustee for Co; Declaration of Trust by AS be approved; that £2,500 £10 pref shares and £7,500 £10 ordinary shares be allotted to AL as per agreement dated 17 Jan 1896. AL did not vote.
Board Meeting 1 Feb 1897
Approval of sealing loan agreement with Kent Fire Office.
Board Meeting 10 July 1897
Approves sealing of Lease of Kings Head Stables, Rochester.
Board Meeting 14 Sept 1897
Approves sealing of lease of Star beerhouse , High Street, Strood.
Board Meeting 30 Sep 1897
Approves sealing of Lease of Horse Shoe , High Street, Chatham and 77 High Street, Tunbridge wells.
Board Meeting 8 Jan 1898
Seal to be attached to [surrender?] of leases to Castle Hotel, TW and 18 Newgate Street.
Board Meeting 17 Feb 1898
Seal to be attached to Lease of Bridge House, Collier Street.
Board Meeting 25 Mar 1898
Seal to be attached to agreement to purchase World’s End, Chatham. [sold May 1898]
Board Meeting 15 Mar 1899
Conveyance of High Brooms, Kent.
Board Meeting 29 Apr 1899
H. Thompson appointed Sec pro tem in absence through illness of AS.
Board Meeting 16 May 1899
Sale of Ottheram Quay.
Board Meeting 25 May 1899
Company to purchase from Mr. O. Harbridge the Milton brewery with residential and trading properties, plant and stock for £27,000. [£15,000 mortgage at 4%.]
Board Meeting 22 June 1899
Approval to issue of remaining £20,000 Debenture stock.
Board Meeting 1 July 1899
Report from Collins Tootel &Co [auditors] showing £29,591.17.10 spent between date of Deb Trust and 31/07/98 on additions & improvements to property charged to Trustees less £2,668.12.2. received in respect of sales less £2,236.12.4.depreciation of wasting properties.
Resolved that following recently acquired properties should be conveyed to Deb Trustees:
1. Land adjoining the Anchor at Horsham: £1,975 .0.0
2. Papermakers Arms deposit £220.0.0.
3. Refreshment Rooms & Cottages, Strood £1,621. 4.1
4. The Star Strood £410.0.0.
5. Carlton Tun Wells new lease £1,7777. 7.6.
6. Dorset Arms £173.11.6.
7. Castle Tun Wells Freehold £8,610.12.4.
8. Chandos Rd Beer House £754.4.0.
£15,941.19.5
Proof prospectus read and approved.
Board Meeting 20 Jul 1899
Acquisition of Holden Park road & Charles St, Southborough.
Board Meeting 18 Aug 1902
Proposal to issue £50,000 further of Debs and get approval of existing Deb Holders.
Board Meeting 26 Jan 1911
Resolved to appoint Bertram Leney as Secretary with power to sign cheques [Note: Green had been acting as Asst Sec since July 1909replacing as Asst Sec S. Thompson]
Board Meeting 12 Oct 1911
The tuns (?) were examined and were again not considered at all satisfactory and the directors were compelled to give Mr. Corbett one months notice dating from Oct 16th 1911.
Board Meeting 2 Nov 1911
Mr Corbett showed samples of the tuns which were considered to be an improvement on the last tuns examined.
Board Meeting 2 Jan 1912
It was decided to allow the new Bow Bridge to pass through the company’s river meadow for a nominal consideration.
Board Meeting 15 May 1913
Conveyance of Milton Brewery etc to the Guardians of the Poor of the Milton ???? deed of enlargement of 1,000 years lease of same.
Board Meeting 3 Sep 1915
Bertram Leney tendered his resignation as Secretary as from 31 Augst 1915 to enable him to devote his whole time to the Brewing Department. Accepted. Proposed that Mr. Charles H (?)Hanley be appointed. (last board at which A. L. present).
Board Meeting 24 Nov 1915
(present: E. L. & R. Tapply as directors and C.H.Hanley as Sec)
Agreed with Mr. Anderson that for 12 months subject to 1 months notice either side should act as surveyor for our houses to draw up specifications & obtain estimates at an inclusive fee of £1 5 shillings per Licensed House per annum.
Board Meeting 1 Dec 1915
Directors to consult their solicitors (Godden, Holmes & Ward) re Home farm and Woodman.
Mr. Tapply reported the position at Chatham depot was satisfactory.
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