When we rented part of the Society’s Ground to Samuel Carrey, on the Terms formerly mentioned, our Expectation was that he would have built upon the Lot, according to his declared Intention; which would have given a permanent Security for the Rent. This, however, he has not done. And when the Year was complete, Vizt. on the 30th of last month, and the Rent demanded, we found that he was a Man of embarrass’d Circumstances and that there was no Probability of getting the Rent without a Law Suit, and are also apprehensive that if we should take this Step he will declare himself Bankrupt, which indeed seems to be too near the Truth. Under these Circumstances we have acted to the best of our Judgement. The Rent he was to pay was certainly very high, and as he is anxious to be absolved from the Contract we have agreed, that if he will pay the Year’s Rent due, and also a Quarter’s Rent in advance, for the Continuance of the School, we will take back the Estate and release him from the Contract; this he has engaged to do in Ten Days. He will no doubt exert himself to raise this Money, and if he does, we shall think the Society well rid of such an uncertain Tenant, and must do the best we can for renting the Ground again upon more promising Security.

The School is full, and many applying for Admission. It is conducted, we believe, to general Satisfaction. Notwithstanding our Disappointment in Carrey, we shall not break up the School, if it can be avoided; but will rather advance two Quarters Salary to the Mistress, which with the advance Quarter to be paid by Carrey, will give us nine months for letting out the Ground again. This we hope to accomplish in the Spring.

The Society may depend on our best Endeavours for promoting the Interests and good Designs of the Institution; and we are, Sir, your assured Friends and very humble servants