Finances:
Objects:
yearly income to the foundation shall be applied by the trustees in the payment of grants to pupils entering state secondary education of amounts to be at the discretion of the trustees, such total sums to be no more than the accumulated income of the foundation at the time of making grants, and to be awarded equally to all applicants, whose parents are bone fide resident in the civil parishes of beetham or arnside, and who are and have for not less than three years been in attendance at a state primary school. further grants may be awarded for such a period or periods as the trustees shall in their absolute discretion agree.
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