System Number: 02530
Date: 16 December 1886
Author: Lewis and Lewis
Repository: Glasgow University Library
Call Number: MS Whistler L65
Document Type: ALS
TELEPHONE NO. 6674
MESSRS LEWIS & LEWIS.
10 & 11, ELY PLACE, HOLBORN,
LONDON, E. C.
16th Decr 1886
Since seeing you, on Monday evening last Mr. Pocock has been kind enough to call upon us and lend us a copy of the Society's Charter. We have carefully looked through this for the purpose of framing such a Security for the £500 as you ought to take,
and We observe that the Charter gives the Society power to borrow money upon mortgage of their "lands tenements or hereditaments", and we understand from Mr. Pocock that the only property of this description the Society possess is a Lease of their Gallery held at a heavy rent of £700 a year and in which there is probably no monetary value. We further gather that there are certain arrears due to the Society but we do not see how these can be conveniently appropriated to you.
Believing that you are anxious to assist the Society with the advance of £500 [p. 2] and with every wish to try and fall in with your desire, we cannot see any way whatever in which you ought in justice to yourself and others to carry through this matter except by taking a Mortgage of the Lease; and (as we regard this at the present time as of no value whatever) by taking also a joint letter from the Members of the Council guaranteeing the repayment of the £500 to you. In making this latter suggestion we do so primarily for the purpose to securing the aid of the Council in the appropriation of such moneys as the Society receives in repayment to you of the advance.
We consider that the Society ought to agree to pay you 5 per cent for the advance and that the amount should be repaid at the expiration of a year.
Lewis & Lewis
J McNeil Whistler Esqre
3. Society's Charter
The Society of British Artists, of which JW was President.
The SBA galleries in Suffolk Street.