The Highland monthly - National Library of Scotland

The Hospital oj Inverness. 533
Then followed applications for reduction in the interest
payable on bonds, commencing with one from Torbreck, to
have the interest on his bond for ;!^IC)00 reduced from 5 to
4^
per cent., as otherwise he would pay up the amount.
This was acceded to. The next was from Inches to the
same purport. The Session deferred coming to a decision
till their next meeting (20th May, 1823), when they agreed
to reduce the rate to 4^ per cent., to be raised again if the
interest of money should rise. And in October of the same
year, the interest on Glengarry's bond was also reduced to
4^2 per cent., \\ith which he expressed himself quite
satisfied. But on 20th April, 1824, there was a further
application from him to have the rate reduced to 4 per
cent., and a similar application from Torbreck on 8th June.
In both cases the Session claimed three months' notice.
They declined, therefore, either to have the money paid up
or to reduce the interest without this. Torbreck's bond
continued at 4)^ per cent, for a time, then was reduced to
4, and then paid up ;
but
Inches' bond was temporarily
reduced to 4 per cent, in 1825, and raised to 5 per cent, in
1827. Torbreck's money was lent to the town at 5 per
cent., also in 1827. The rate on Inches' bond was again
reduced in 1828-29, and both bonds paid up at Martinmas,
1829, and ;^2400 lodged in bank. Only 2 per cent, was
got for 6 months. Then i^2000 of it was lent for a short
time at 35^2 per cent., the remainder at 2 3^^ in bank ; and
then the whole sum was again in bank, at only 2 per cent.,
from November, 1831, to May, 1834.
As the pensioners continued to be paid, there was a
balance due to the heirs of the Rev. Thomas Fraser, at ist
February, 1834, amounting to £^6 lis 11 ^^d. This reduc-
tion of income was a serious matter. The Session, even
on nth November, 1823, on receiving intimation that the
widow of the Rev. George Watson, sometime one of the
ministers of the parish, had bequeathed ;^20 to the poor of
the town and parish, considering that Mrs Watson " left
the money without any particular instructions as to the