PROBLEM No. 14.
Reading edition
Solomon Solfar was a solemn man, and his Will was proved in solemn form. He died quietly in his bed on the 1st April, 1912, leaving a Widow, two Sons (Matthew and Mark), and one Daughter (Mary).
On the 1st April, 1913, after all Debts, Testamentary and other Expenses had been paid, the Estate consisted as follows:—
£6,000 23⁄4% Annuities at 765⁄8.
£2,000 Swansea Corporation 3% Stock at 83 (Interest payable 1st January and 1st July).
£6,000 London and North Western Consolidated 4% Stock at 103 (Dividends payable 15th February and 15th August).
1,000 Birmingham Small Arms Cum. 5% Preference Shares of £5 each at £51⁄4 (Dividends payable 1st March and 1st September).
£5,000 British Westinghouse 4% Debenture Stock at 63 (Interest payable 1st January and 1st July).
Mr. Solfar made during his lifetime advances of £500 to each of his Sons, which at his death were brought into Hotchpot, and interest charged thereon at 5% per annum. He directed his Estate to be left in Trust, the Income to be applied, first in payment of £75 a quarter to Mrs. Solfar, and the balance to be distributed half-yearly in equal shares to Matthew, Mark and Mary.
Write up the books of the Trust, ignoring Income Tax, for the year ending 31st March, 1914, the balance of Income in hand on 1st April, 1913 (after making all necessary payments to the beneficiaries) being £12 0s. 0d.
Mr. Hopkins' bodyguard, The Pride of Bristol.
