Davies writes that "the position now is that Lady Russell will remain tenant of Telegraph House for the coming year at the rent of £400, for the payment of which Lord Russell will apply and retain the £400 payable by him to her under the deed in respect of that year, and she will give up possession not later than 15th July 1934, John and Kate to remain at the school there until the end of the summer term 1934, their fees of £300 for that year being paid out of the income of their trust funds, the first payment to be made in September next in advance for the term beginning then."

Davies discusses John and Kate's trustees and sends bundles of papers to be signed.