12 –14 Victoria Road
At Dundee the fifth day of February Eighteen hundred and eighty five
At a Special Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this day within the clerk’s Office at one o’clock
Convener Lindsay in the Chair
The Clerk read letters which he had received from Messers Whyte & Freeman Solicitors Forfar in regard to the arrears of Feu Duty on Property belonging to Mrs Wills Brewer Dundee over which the (Trades) Nine Trades have a Bond for £6000.
He was instructed to get from Messers Hendry & Pollock the Valuations of the property, which were produced when the loan was being negotiated and to lay these before another Meeting of the General Fund Court along with any other information he may be able to obtain regarding the property.
At Dundee the thirteenth day of February Eighteen hundred and eighty five
At a Special Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this day within the clerk’s Office at one o’clock
Convener Lindsay in the Chair
…The Meeting again took into consideration the subject of Mrs Wills Bond and after discussion remitted and hereby remit to a Committee consisting of Convener Lindsay, Mr D. Stewart and the Clerk to arrange with Messers Shepherd, House Factors Dundee as to collecting the Tents of the Property paying the feu duty &c. with powers.
At Dundee the seventh day of August Eighteen hundred and eighty five
At a Special Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this day within the Clerk’s Office at one o’clock
Convener Lindsay in the Chair
The Clerk read the following Letter which he had received from Mr Peter F. Husband
“Dundee 20 July 1885
Dear Sir
Mrs Wills Properties
With reference to the properties in Victoria Road belonging to Mrs Wills and over which your Clients the Nine Trades of Dundee, hold on Bond for £6,000 I beg to mention that Mrs Wills is endeavouring to make arrangements with the different Creditors who hold securities over her properties, and is desirous of adjusting them, as far as she can, to make the most of their Securities and it occurs to me that the position of your Client could be considerably improved if they were to buy the Property out and out.
At the same time I should add that it is a matter of little consequence to Mrs Wills whether this is done or not as she has no other funds or estate available for meeting any deficit which may arise.
You are probably aware that the two tenements held by your Clients and the adjoining tenement over which a first Bond for £4,000 exists were constructed by Mrs Wills a few years ago at a cost of £18,000 and at present £5,000 of that sum remains a burden over the three tenements subsequent to your Clients Bond and the corresponding Bond for £4,000.
I am inclined to think that if your Clients offered to purchase the two tenements held by them in Security for the amount of their Bond and whole interest thereon and expenses in relation thereto the second Bond holder who is the only other party so far as Mrs Wills is aware having a Bond over the subjects could in all probability be got to consent to the Conveyance.
As already mentioned however Mrs Wills has no available funds or estate and if such an arrangement were to be carried through this could only be done of your clients bore the whole expense of and attending the transaction, including stamp duties and revising fees, and also of and attending the procuring of an allocation of the feu duty by the Superiors, to which I understand they are not disinclined assuming a separate feu duty is allocated on each tenement and for which I would propose, subject to your approval to apply formally on this footing.
The Rents for the current year are rather increased being I understand £523 for your two tenements and there seems little doubt that if trade had improved a little, the property will increase in value.
It is hardly necessary for me to point out to you the advantages which would accrue to your clients for this cause in obviating the necessity for a further exposure and the risk of not finding a purchaser as well as enabling them to retain the property themselves until trade improves as of course they could not purchase under a public exposure themselves in virtue of the powers in the Bond and reaping the advantages of improved value without meantime running the risks of a Bond holder in possession.
All this must be patent to you and you will no doubt consider whether it would not be well worth the more expenses which I need hardly say would not be thrown upon you unless from due necessity.
The buildings have turned out most unfortunate ones for Mrs Wills but she will be very glad to prevent or memorise as far as possible any loss to your clients which will no doubt only be temporary.
If your Clients are to make an offer on the above footing I shall be glad to receive and submit it and endeavour to carry through the other arrangements.
I am &c
(Signed) Peter Fair Husband
R. C. Walker Esq. Solicitor”
It was submitted to the Convener, Mr John Milne and Mr Kinmond as a Committee of the General Fund Court any two a quorum and the Convener to be Convener.
At Dundee the seventh day of August Eighteen hundred and eighty five
At a Special Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this day within the Clerk’s Office at one o’clock
Convener Lindsay in the Chair
The Committee appointed by the General Fund Court to enquire into the proposed purchase by the Nine Trades of the Property in Victoria Road belonging to Mrs Wills over which the Trades have a Bond and Disposition in security for Six thousand pounds, reported that after careful consideration of the whole circumstances and the difficulty and expense of obtaining a good Title to the property they were of opinion and recommend that the transaction should not be entered into.
The Meeting approved of the report and recommendation of the Committee and resolved in the meantime to take no further action in the matter.
At Dundee the second day of December 1885
At a Stated Meeting of the General Fund Court of the Nine incorporated Trades of Dundee held this evening within the Clerk’s Office at seven o’clock P. M.
Deacon Brown in the Chair
The Committee appointed by the General Fund Court to enquire into the proposed purchase by the Nine Trades of the property in Victoria Road belonging to Mrs Wills over which the Trades have a Bond and Disposition in security for Six thousand pounds, reported that after careful consideration of the whole circumstances and the difficulty and expence of obtaining a good Title to the property they were of opinion and recommend that the transaction should not be entered into.
The Meeting approved of the Report and recommendation of the Committee and resolved in the meantime to tale no further action in the matter.
At Dundee the second day of March 1892
At a Stated Meeting of the General Fund Court of the Nine incorporated Trades of Dundee held this evening within the Clerk’s Office at seven o’clock P. M.
Convener Paul in the Chair
It was remitted to the Convener and the Clerk to enquire into the position of the Bond over Mrs Wills property and report to another Meeting of the General Fund Court
At Dundee the Seventh day of December eighteen hundred and ninety two
At a Stated Meeting of the General Fund Court of the Nine incorporated Trades of Dundee held this evening within the Clerk’s Office at seven o’clock P. M.
Convener Paul in the Chair
The Convener reported as to the position of the Bond on Mrs Wills Property at Victoria Road and after discussion it was resolved to call a Special meeting of the General Fund Court for Monday the 9th of January next at Two o’clock afternoon again to consider the subject.
At Dundee the twenty second day of January Eighteen hundred and ninety three
At a Special Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this evening within the Clerk’s Office at half past seven o’clock
Convener Paul in the Chair
The clerk read the following Report as to the present position of the Loan over Mrs Wills property.
Report by Convener Paul and the Clerk to the General Fund Court of the Nine Incorporated Trades
of Dundee as to the present position of the Loan of 36,000 over Property in Victoria Road
Dundee belonging to Mrs Margaret Low Gary or Wills.
Mrs Wills borrowed from the Nine Incorporated Trades Dundee the sum of £6,000 on the Security of Property at Victoria road Dundee belonging to her at Whitsunday 1875 at which time the late Mr David Rollo was Clerk of the Nine Trades. The Bond and Disposition in security by the Mrs Wills is dated 27th April and recorded in the Division of the General Register of Sasines applicable to the County of Forfar 17th May 1875.
When the proposal for the Loan was submitted to the General Fund Court a Valuation by Mr William Alexander Town Architect was produced. This Valuation is dated 1st march 1875 and in it Mr Alexander values the Property at £9,800.
A Valuation dated 15th March was subsequently obtained from Mr James Mclaren Architect Dundee. He valued the subjects at £8,850.
The Interest on the said Bond which was stipulated to be at the rate of four and a half per cent was punctually paid up to Martinmas 1884.
Since that time the Rents of the Property have been insufficient to pay the Interest of 4½ per cent stipulated in the Bond. The Arrears if Interest at Martinmas 1892 amounted to £158:9:10d.
The Feu Duty applicable to the subjects with a Security by the Nine Trades is £212 per annum with a Duplicand each 25th Year. The first Duplicand is payable at Whitsunday 1899.
In the whole circumstances it might be advisable not as a Speculation in property or as a permanent investment but with the view of preventing all questions of accounting in the future, in the interests of the Trades that they should acquire by purchase an absolute title to the property which would enable the Trades either to hold the property or dispose of the same immediately on an advantageous offer being got.
As long as the Trades hold the property it is believed that they will get a fair return for the price to be paid vizt: £6,250 all in terms of the Draft Letter proposed to be sent to Mr Ogilvie, Solicitors which is submitted along with this Report and held as incorporated herein.
The Draft Letter proposed to be sent to Mr George Ogilvie Solicitor Judicial Factor on the Trust Estate of Mr David T. Wills, Brewer Dundee is as follows:
“Dundee 1893
Dear Sir
Referring to the conversation which Convener Paul and I had with you a few days ago as to the Bond for £6,000 held by the Nine incorporated Trades Dundee over the Property in Victoria Road Dundee belonging to Mrs Margaret Low Gray or Wills, Widow of the lat David T. Wills Brewer Dundee I have to state that in the event of the said property being exposed to Sale by Public Roup within six months of this date by Mrs Wills with your consent as holder of the Bonds over said Property in favor of Mrs Wills Trustees or under the powers contained in the Bonds held by you at the Upset price of £6250 I am instructed by the said Nine Incorporated Trades to Offer and I hereby undertake to offer the said upset price on their behalf.
Out of said price the £6000 shall be paid over to the Nine Incorporated Trades in repayment of their Bond but interest shall not be paid out of the price.
In the event however of more than £6250 being obtained in said Property the surplus above the Upset price shall be applied in payment protanto of the arrears of Interest at the rate of 4½ per cent per annum due to the Nine Incorporated Trades.
The whole Expense of the sale and Discharge of Bonds and also one half of the Whole expense of Conveyance (including Stamp Duty and Revising Fees) shall be paid out of the £250 being the Surplus price above said Bond of £6,000.
Yours faithfully
George Ogilvie Solicitors Dundee
David T. Wills Brewer Dundee “
The Convener stated that owing to the present position of affairs and not with the view of any speculation in property or to hold the same as an Investment but with the view of taking the Trades out of the unfortunate position in which they are placed with reference to the Loan in question it was well worthy of consideration whether the Trades should not now acquire an absolute title to the said property by purchase at such a price as would yield a fair return and so save all questions of accounting in the future.
After full consideration of the matter Deacon Young moved that the foregoing Report and Letter to be sent to Mr Ogilvie be approved of and adopted by the General Fund Court and that the General fund Court recommend the Nine Incorporated Trades of Dundee to acquire an absolute Title by purchase to the said Property in Victoria Road all in terms of the foregoing Report and proposed letter to Mr Ogilvie which was seconded by Ex Convener Black and unanimously agreed to.
It was further resolved that a Special General Meeting of the said Nine Incorporated Trades be called for Thursday the 30th Instant within the Town House Buildings Dundee at 12 o’clock Noon to consider said recommendation and to resolve in regard thereto.
The Clerk was instructed accordingly.
At Dundee the sixth day of September Eighteen hundred and ninety three
At a Stated Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this evening within the Clerk’s Office at seven o’clock
Convener Paul in the Chair
The Meeting having taken into consideration the subject of the future Management of the Property in Victoria Road belonging to the Trades, remitted to the General Fund Court at a General Meeting held on third July last, the Clerk produced Statement of Gross Rentals of the Property since 1886.
After discussion Mr F. Stevenson moved that there be no change in the management of the Property in the meantime, which was seconded by Mr P. M. Young and unanimously agreed to.
The Meeting instructed the Clerk to obtain a Valuation of the Property from Mr T. S. Robertson, Architect Dundee in terms of remit from the General Meeting of the Trades held on sixth April last.
At Dundee the 9th day of October Nineteen hundred and six
At a Stated Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this evening within the Clerk’s Office at eight o’clock p.m.
Convener Taylor in the Chair
The Convener reported that the state of stone work of the Property at Victoria Road Buildings belonging to the Nine Trades being somewhat decayed he had asked Mr J. B. Hay, Builder, Dundee, to examine the Building and report what he considered was necessary to be done. He produced a Letter from Mr Hay dated 1st Instant, in which he recommended certain repairs on the property at a cost of from £10 to £12. The meeting approved of the Convener’s actions and remitted to him and the Clerk to have the necessary repairs executed with powers.
At Dundee the 21st day of November Nineteen hundred and ten
At a Special Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this day within the Clerk’s Office at three o’clock p.m.
Convener Nicoll in the Chair
The Clerk read a Letter dated 18th Inst from Messers J & Shepherd Factors for the Property at Victoria Chambers belonging to the Trades in regard to the introduction of Electric Light into one of the Offices there. The matter was remitted to the Convener and Clerk with Powers.
At Dundee the 14th day of February Nineteen hundred and eleven
At a special Meeting of the General Fund Court of the Nine Incorporated Trades of Dundee held this afternoon within the Clerk’s Office at two o’clock
Convener Nicoll in the Chair
The Convener stated that the Meeting had been called to consider as to repairing the Property at Victoria Road Dundee belonging to the Nine Trades. The matter was remitted to the Convener, Ex Convener Mollison and Mr J, G. Sibbald with powers.
At Dundee the 21st day of April Nineteen hundred and eleven
At a Meeting of the Committee appointed by the General Fund Court on 14th February last to consider as to repairing the Property at Victoria RoadDundee belonging to the Nine Trades
Convener Nicoll in the Chair
The Convener reported that after inspecting the Property the Committee had employed Mr J. B. Hay, Builder, Dundee to make the necessary repairs on the Building, and that he had done the work in a very satisfactory manner.
Mr Hay’s Account amounted to £42:8:3 was produced and ordered to be paid.