| StorageSite | UCL Institute of Education |
| Description | Shareholder records including: prospectuses and other circulars, 1880-[1908]; share ledgers, 1872-[1930s]; allotment lists, share register, and registers of transfer, 1872-1913; registers of probates of wills and letters and administration, 1878-1914; registers of transfers, 1924-1950; share redemption registers, [1930s]-1950; dividend books, 1932-1951; Debenture stock registers, 1950-1966; other share registers, 1880s; share certificates, [1880-1926]; papers regarding the administration of shares, 1913-1951. |
| AdminHistory | The limited liability company was formed with a nominal share capital of GBP12000 worth of GBP5 shares. Shareholders received dividends and could also nominate school pupils. The original share capital was increased to GBP50000 in 1875 (termed A Shares with the original capital); to GBP100000 in 1880 (B shares); to GBP150000 in 1899 (C shares); and to GBP200000 in 1901 (D shares). By 1898 the dividend had been limited to a maximum of 4%. The 1906 constitution required that the Trust would have to purchase the share capital by 1 January 1956, or the organisation would be wound up. All shares were consolidated into preference shares in 1911 and 100 'new' trustee shares of nominal value were created with large voting powers to be held by members of the Council. In 1912, all holders of preference shares were allocated 4% of the profits of the Trust, minus a sinking fund of £1270 6s which would be set aside per annum for the mortgage redemption. No dividends were paid after this decision. From the 1920s there were several attempts by shareholders to received dividends or wind-up the Trust and distribute their assets. Several schemes were put forward by the Trust and the shareholders accepted the option where they could receive cash for their shares or be issued with the equivalent in debenture stock which would give interest of 4%. The new scheme was agreed in May 1950 and the share capital was reduced to £5. By 1951 the Trust had been able to repay all shareholders and appear to have regained all their debenture stock by 1966. |