Chelsea and Kilmainham Hospitals Act 1826

LII Indemnity to the Trustees and Executors of the late Colonel Drouly.

And whereas Colonel John Drouly, late Governor of Cowes Castle in the Isle of Wight, deceased, did, in and by his last Will and Testament, bearing Date the Eleventh Day of July One thousand eight hundred and nine, after certain Bequests to his Brother and Sister, and to the several charitable Institutions all therein named, give and bequeath the Residue of his Estate to Alexander Fraser of Lincoln's Inn, Esquire, George Ridge senior, Banker, of Charing Cross, Esquire, since deceased, George Ridge junior, Esquire, and John Ridge of the same Place, Esquire, who pre-deceased the Testator, upon Trust, (amongst other Things,) to pay to the respective Treasurers of Chelsea and Greenwich Hospitals One thousand Pounds each, and upon this further Trust to pay and divide all the Residue not therein-before disposed of to the Royal Military Hospital at Chelsea in the County of Middlesex, and the Royal Naval Hospital at Greenwich, equally between the said Hospitals, Share and Share alike, to be paid to the respective Treasurers of the said Hospitals, to be applied for the Use and Benefit of the Pensioners of the- said respective Hospitals, in such Manner as the Governors and Directors thereof respectively, for the Time being, should from Time to Time order and direct: And whereas the said Alexander Fraser, and the said George Ridge senior, and George Ridge junior, his Co-trustees and co-surviving Executors, named in the said recited Will, did, On the Twenty-seventh Day of July which was in the Year One thousand eight hundred and twenty-one, transfer the Sum of Twenty thousand Pounds Three per Cent. Consolidated Bank Annuities, in part of the Residuary Share so bequeathed as aforesaid to the said Royal Military Hospital at Chelsea, of and in the Residuary Estate of the said Testator John Drouly deceased, into the Names and Account of Sir Samuel Hulse, Sir Harry Calvert, Richard Neave, and William Henry Spicer, Esquires, in the Books of the Governor and Company of the Bank of England, the said Sir Samuel Hulse being the Governor of the said Royal Military Hospital, and the said Sir Harry Calvert the Lieutenant Governor thereof, the said Richard Neave the Secretary thereof, and the said William Henry Spicer the Deputy Treasurer of the said Hospital: And whereas the said Twenty thousand Pounds Three per Cent. Consolidated Bank Annuities were so transferred into the Names of the said Sir Samuel Hulse, Sir Harry Calvert, Richard Neave, and William Henry Spicer, at the Request in Writing, under the respective Hands of John King Esquire, and of the said Sir Samuel Hulse and Sir Harry Calvert, Three Commissioners of the said Royal Military Hospital at Chelsea, they and the other Commissioners being desirous that the said Residuary Bequest of the said John Drouly, in favour of the said Royal Hospital at Chelsea, should be strictly applied in conformity with the Directions Of his said Will, for the Use and Benefit of the Pensioners of the said Hospital, and for that Purpose that the same Bequest, and the Funds therefrom arising, should be kept separate from the general Funds of the said Hospital, standing in the Name only of the Treasurer for the Time being of the same Royal Hospital; and it is desirable that the said Alexander Fraser, and his said Co-trustees and Co-executors, should be indemnified for the said Transfer so made of the said Twenty thousand Pounds Three per Cent. Consolidated Bank Annuities as aforesaid, instead of selling the Stock and paying the Money arising from the Produce of such Sale to the Treasurer, pursuant to the Testator's Directions in that respect: Be it therefore further enacted, That the said Alexander Fraser, George Ridge senior, and George Ridge junior, the said surviving Trustees and Executors named in the said recited Will of the said John Drouly deceased, and every of them, their and every of their Heirs, Executors, Administrators, Goods and Chattels, Lands and Tenements, shall stand, be, and remain saved harmless and indemnified of, from, and against all Loss, Costs, Charges, Damages, and Expences which they or any of them can or may or otherwise might or could bear, pay, sustain, expend, be at or be put unto, or be liable for or by reason of their having so as aforesaid transferred the said Sum of Twenty thousand Pounds Three per Cent. Consolidated Bank Annuities into the Names of the said. Sir Samuel Hulse, Sir Harry Calvert, Richard Neave, and William Henry Spicer, in the Way and Manner herein-before stated, and also for or by reason or on account of any Loss, Misapplication, or Nonapplication of the said Twenty thousand Pounds Three per Cent. Consolidated Annuities, or any Part thereof, or the Interest, Dividends, or Annual Produce thereof, as fully and effectually as if the said Alexander Fraser and his said Co-trustees and Co-executors had sold the Stock and paid the Produce of the same in strict Conformity with the Directions of the said Will of the said Testator.