Extracts from the Company documents of John Phethean and Company Limited – Part 1

Memorandum of Association of John Phethean and Company Limited.

3 Nov 1885

……..

(3a)To carry on the business of Spinner, Doublers and manufacturers of cotton or other fibrous materials et etc and of buying and selling cotton or other materials and yarn or cloth or other manufactured articles.

(3b) To purchase on such terms and conditions as may be arranged all or any part of the assets and liabilities of any Company, firm, or person engaged in any business within the objects of this Company and in particular to purchase and undertake the business now carried on by the Trustees under the Will of the late Josiah Phethean, trading at Farnworth and Manchester both in the County of Lancaster, As “ John Phethean & Co., “ as Spinners, Doublers and Manufacturers and all or in any part of the property and liabilities of the said Firm in connection therewith.

We the persons whose names and addresses are submitted are desirous of being formed into a Company in pursuance of this Memorandum of Association and we respectively agree to take the number of shares in the Capital of the Company set opposite to our respective names. Dated third day of November 1885:

Companies Act – Notice of the Situation of the Registered Office of the John Phethean and Company Limited.

To the Registrar of Joint Stock Companies

The John Phethean and Company Limited Company hereby give you notice in accordance with The Companies Act 1862 that the Registered Office of the Company is now situated at: Cawdor Street, Moses Gate near Bolton, Lancashire.

Signature of John Phethean; twelfth day of November 1885

Companies Acts 1862 to 1880 Form E; Summary of Capital and Shares of John Phethean and Company Limited made up to the tenth day of February 1886

Nominal Capital £125000 Divided into 2500 shares of £50 each

Number of shares taken up on 10th February 1886     – 1480

There has been called up on   300 £50 shares                 – £50

“                                                   1180 £50 shares                      – £30

Total amount Calls paid                                                          – £50400

List of Persons holding Shares in John Phethean and Company on the 10th day of February 1886

Signature of John Phethean, Managing director  Dated 9 Sept 1886

The Trustees of the Will of the late Josiah Phethean                                 and John Phethean and Company Limited and the promoters of the said Company

Agreement

 adopting conditional Agreement for sale and purchase of the business of John Phethean and Company and for issue of paid up shares

The Agreement made the ninth day of September One thousand eight hundred and eighty six Between Mary Jane Phethean of Woodlands Great Lever in the County of Lancashire, Widow John Phethean of Woodside Great Lever aforesaid Cotton Manufacturer and Thomas Glaister of Bolton in the same County Bleacher of the one part and John Phethean and Company Limited therein after referred too as “The Company” of the other part. Whereas by an agreement dated the twenty seventh day of July One thousand eight hundred and eighty five and made between the said Mary Jane Phethean John Phethean and Thomas Glaister as trustees of the will of Josiah Phethean and therein and hereafter referred to as “the trustees” of the one part and Peter Kevan on behalf of the persons interested in the formation of a Company to be called John Phethean and Company Limited and to be formed as therein mentioned of the other part it was agreed conditionally as therein and hereafter mentioned that the trustees should sell and the Company should purchase the business and assets therein mentioned of a firm of John Phethean and Company on the terms therein mentioned including (clause 4) the payment by the company of the sum of eighty five thousand two hundred and fortyone pounds eleven shillings and seven pence payable as to the sum of fifteen thousand pounds part thereof by the issue to the trustees or as they should direct of three hundred shares of the Company of fifty pounds and credited as fully paid up in the books of the Company and therein numbered 1 to 300 inclusive and as to the same of forty thousand pound further part thereof by the issue of debentures and as to the sum of thirty thousand two hundred and forty one pounds eleven shillings and seven pence the remainder of the said purchase money of eighty five thousand two hundred and fortyone pounds eleven shillings and seven pence in cash therein mentioned And it was thereby provided that the said agreement should be conditional upon the happening of events therein mentioned including the formation and registration of the Company in the manner in which the Company has in fact been formed and registered and the execution by the Company of an agreement to the effect hereinafter expressed And it is hereby agreed as follows:

1 The Company shall be entitled to all rights of the Company under the said agreement of the twenty seventh day of July One thousand eight hundred and eighty five and to enforce the same against the parties hereto of the first part and shall fulfil all the obligations expressed to be imposed on the Company by the said agreement.

2 The Company shall forthwith cause this agreement to be filed with the Registrar of Joint Stock Companied and immediately upon such filing shall issue and all to the trustees Three hundred shares of the Company of Fifty pounds each credited as fully paid up in the books of the Company and therein numbered 1 to 300 inclusive and nothing herein contained shall amount to a Contract by the trustees to take such shares until this Agreement shall have been filed as aforesaid

3 The Trustees shall accept the issue and allotment of the said shares in full satisfaction of the said sum of fifteen thousand pounds payable in fully paid up shares under the said agreement

As witness the hands of the parties hereto of the first half and the Company have caused their Common Seal to be hereunto affixed the day and year first hereinbefore written.

Signed by the said Mary Phethean John Phethean and Thomas Glaister in the presence of (looks like Wm Marden)

The Common Seal of John Phethean and Company Limited and hereunto affixed by order of the Board of Directors in the presence of Walter Phethean, Secretary to the Company

Note: Thomas Glaister (1828-1901)  Mayor of Bolton: 1881-82 (Conservative) Born: Mill Hill, Bolton 1828 Died: Ormskirk, Lancashire 7 January 1901. Bleacher – proprietor of Mill Hill bleachworks. After leaving school he worked for a short time at the chemical works owned by the Blair family at Kearsley but entered the bleachworks of Blair & Sumner at Mill Hill in January 1843, becoming in turn clerk, cashier and eventually general manager of the business. He bought the Mill Hill bleachworks of Blair & Sumner from the trustees of the estate of the late Stephen Blair in 1871. Grandfather of Thomas Glaister, Mayor of Bolton 1949-48. Represented East Ward 1871-74. Alderman for East Ward from November 1874. Appointed Magistrate in April 1880. His wife, Margaret (Beswick) died on 5 January 1882, during his Mayoral term. Prominent Freemason. Initiated in the Lodge of Antiquity no 146 in 1856 becoming Master of the Lodge in 1862. In 1874 he was appointed Senior Grand Warden, East Lancashire.