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272                    HISTORY OF EAST GRINSTEAD.
The capital was originally £95,000, divided into 5,000 5 per cent, preference shares of £10 each and 4,500 ordinary shares of like value. There was also a 4 per cent, first mortgage of £25,000 on the Southdown Brewery, and 4 per cent, debenture stock for £50,000. In 1898 Messrs. Monk & Sons' Bear Brewery, at Lewes, and the Dolphin Brewery, at Cuckfield, having been purchased, the share capital was increased to the present total amount of £165,000, by the creation of 4,500 pre­ference and 2,500 ordinary £10 shares, which were offered for public subscription in March, 1898, the preference shares at a premium of 10s. and the ordinary shares at par. At the same time subscriptions were invited at £ 103 per cent, for £96,000 4 per cent, perpetual " A" mortgage debenture stock, forming part of an authorised total of £170,000. By this means the total capital was increased from £170,000 to £321,000, the mortgage on the South­down Brewery having been paid off. The balance of the authorised debenture stock has since been issued, so that the paid-up capital is now £335,000, made up of £95,000 in preference shares, £70,000 in ordinary shares and £170,000 in debenture stock.
Mr. A. G. S. Manning is the chairman, the other Directors being Mr. William Pawley and Mr. T. S. Manning (managing director). The Company has been most successful, dividends on its ordinary shares having reached 18 per cent.
This Company took over the well-known manufactur­ing and furnishing ironmongery business established in the High Street in the year 1840 by the late Mr. James Bridgland. It was removed in 1865 to the existing premises in London Road, and there carried on by Mr. Bridgland until his death in 1887, and afterwards by his sons, Messrs. Alfred & Charles Bridgland. The Company was registered on November 30th, 1898, with a total capital of £10,000, in 5,000 5 per cent, preference shares
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