In laying out William of Durham’s bequest, the University had recourse to both these kinds of security. As early as the year 1253, a house was bought for thirty-six marks from the priors and brethren of the hospital of Brackle; perhaps for the reception of William of Durham’s earliest scholars. This house stood in the angle between School Street and St. Mildred’s Lane (which to-day is Brazenose Lane), and corresponded therefore with the north-east corner of the present Brazenose College. Two years later, in 1255, was purchased from the priors of Sherburn, a house in the High Street, standing opposite the lodge of the present college, where now is Mr. Thornton’s book-shop. For this piece of property the University paid, out of William of Durham’s money, forty-eight marks down. This house, the second purchase made out of the founder’s bequest, after belonging to the College for upwards of six hundred years, was lately sold to Magdalen College instead of being exchanged as it should have been, if it was to be alienated at all, with a house belonging to Queen’s College, numbered 85 on the opposite side of the street. And at the same time, all properties and tenements, not already belonging to us, except the aforesaid No. 85, intervening between Logic Lane and the New Examination Schools, were purchased, to give our College the faculty of some day, if need be, extending itself on that side. The third house bought out of the same bequest adjoined (to the south) the former of the two already mentioned, and fronting on School Street, was called as early as A.D. 1279, Brazen-Nose Hall. It cost £55 6_s._ 8_d._ sterling, and on its site stands to-day Brazen-nose College gate and chapel. The purchase was completed in 1262. The last of the early purchases made by the University for the College consisted of two houses east of Logic Lane on the south side of the High Street. (The old Saracen’s Head Inn on the same side of Logic Lane only came to the College in the last century by the bequest of Dr. John Browne, who became master in 1744.) These two houses paid a Quit Rent of fifteen shillings, for which the University gave, A.D. 1270, seven pounds of William of Durham’s money, proving, as Mr. Smith notes, that in the thirteenth century houses were purchased in Oxford at ten years’ purchase, so that you received eleven per cent. interest on your money. The rents of all these houses, so we learn from the Inquisition of the year 1280 already mentioned, amounted to eighteen marks. As to the rest of the money bequeathed, the Masters of Arts appointed by the University in 1280 to enquire found, “That the University needing it for itself, and other great men of the Land that had recourse to the University; the rest of the money, to wit, one hundred Pounds and ten Marks, had been made use of, partly for its own necessary occasions, and partly lent to other persons, of which money nothing at all is yet restored.”