So where does the money to help actually come from? The organisation was founded in 1823, by Master Pawnbrokers, for the relief of sick and aged pawnbroking assistants offering financial assistance in the form of grants.
In 1968 the estate was sold by auction for £367,000. The income generated by this investment is now used to fund its charitable work.
In 1834 it was agreed to extend the relief to Masters, their widows and children of all members of the trade and in 1850 Alms Houses were built at West Ham, Essex for their occupation. Then in 1897, with the approval of the charity’s Governors these were abandoned in favour of a scheme for the development of the estate by the building of the land. Shops were constructed and ground leases granted for the erection of others.
In 1968 the estate was sold by auction for £367,000. After costs the money was invested in a range of gilts and equities, on professional advice with its stockbrokers and the agreement of the official custodian of the charity. The income generated by this investment is now used to fund its charitable work.
Pawnbrokers’ Almshouses, Forest Gate, until 1898.
Thank you for the quarterly gift that was paid into my bank account earlier this month. I really do appreciate the help that you and the officers of the PCI give me.
J S Green
Please convey my thanks to your committee for the cheque and letter received yesterday with yearly grant. I do appreciate the fact that my years in the pawn world have led to your kind grant.
Thank you for your letter, I can’t begin to thank you and the committee enough for your generosity in paying all the cost of my stair lift – I am absolutely over whelmed!
I would just like to say thank you for allowing me a grant again it really is greatly appreciated and a massive help.
Thank you all so very much for your kindness to me all through the year and for your much appreciated Christmas gift.
Help with money towards essentials for applicants who will have worked within the pawnbroking business for at least five years.