The first Governors appointed were Clement Monk, clerk; John Smith, clerk; John Sackeverill, gent.; Thomas Litter, gent.; Geo. Hargrave, gent.; Thos. Raithbecke, yeoman; John Neale, yeoman; Thos. Hamerton, yeoman; Willm. Ward, yeoman; Willm. Harrison, yeoman. They were constituted “a body corporate,” having a “common seal, to hold, to manage the revenues of the school, and empowered to spend, and invest, the income at their discretion,” to appoint the teachers, and successors in the governing body, as vacancies should, by death, occur. The property of the school, either from the original, or later, {92c} endowments, consists of lands, tenements, ground and quit rents, in Horncastle, or in the Wildmore Fen allotment of the same, land and tenement in Hemingby, lands in Winthorpe, Huttoft, Sutton, and in Thornton a payment of £12 a year in lieu of former land, {92d} with certain moneys invested in Government Consols and Indian Stock. The rental of the school property has varied at various periods. At the time of the civil war, when the neighbourhood was more or less in a state of anarchy, there is no record, for some years, of the Governors having even met to dispense payments; and the Head Master’s salary was only £10. In 1735 it amounted to £42, and that of the Usher to £21; but in 1753 there was a reduction to £30 for the Head Master, and £15 to the Usher, owing to money having to be “borrowed for the exigenceys of the school.” In 1786 the income of the school rose to £529; the highest point which it seems ever to have attained was £877, in 1854. In that year the Head Master’s stipend is not specified, but two years later it was £235, with capitation fees amounting to £251 odd. In 1780 the Head Master was the Rev. C. L’Oste; he was also Rector of Langton by Horncastle, and a good scholar. He published a translation, in verse, of Grotius on _The Christian Religion_. It was printed at the Cambridge University Press, dedicated to the Bishop of Lincoln, with a very distinguished list of subscribers. {93} Differences arose between him and the Governors, and in Sept., 1782, he was served with a notice to quit, at the end of six months, for neglect of his duties. He refused to give up office, counsel’s opinion was taken by the Governors, Mr. L’Oste pleaded in his own defence. The Governors gave notice of a trial at the assizes. No result, however, is recorded, and Mr. L’Oste retained office until his death in 1818. [Picture: The Grammar School]