Inactive
Finances:
Objects:
"the income of the foundation shall be divided by the trustees into fifteen equal parts which shall be applied as follows:- (1) eleven parts shall be applied for the benefit of the respected parishes hereinafter mentioned in the following proportions: four parts - parish of stony stratford three parts - parishes of nether heyford and upper heyford two parts - ancient parish of st. giles, northampton one part - parish of stowe-nine-churches one part - parish of weedon beck (2) four parts shall be paid to the warden and fellows of merton college, in the university of oxford to be applied by them in the manner prescribed by the statutes of the said college, so far as the same relate to the fund applicable to the maintenaace of ""arnold exhibitions"" application of income for the benefit of the parishes 2.(1) after payment of any expenses of administration, the respective shares of income applicable for the benefit of each of the said parishes shall be applied by the trustes in one or more of the following ways:- (a) in apprenticing beneficiaries to some useful trade or occupation; (b) in awarding to beneficiaries scholarships, bursaries, maintenance allowances or grants tenable at any school, university or other place of learning approved by the trustees; (c) in providing financial assistance, outfits, clothing, tools, instruments or books to help beneficiaries on leaving school, university or other educational establishments to prepare for or to enter a profession, trade or calling; (d) in awarding scholarships or maintenance allowances to enable beneficiaries to travel abroad to pursue their education; (e) in providing within the respective parishes facilities for recreation and social and physical training for beneficiaries or special benefits of any kind not normally provided by the local education authority at any voluntary or county school; (f) in providing financial assistance to enable beneficiaries to study music or other arts; and (g) in otherwise promoting the education (including social and physical training) of beneficiaries 3. in this clause the expression ""beneficiaries"" means young persons who have not attained the age of 25 who are resident in, or who are being or have for not less than one year been educated in any of the respective parishes and who, in the opinion of the trustees are in need of financial assistance; a preference being given to the beneficiaries qualified as aforesaid who are members of the church of england"
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