13 JANUARY 1866, Page 2

The trustees of Mr. Peabody's gift appear to have used

his money well. They have spent half of it on buildings in Spited- fields, Islington, and Shadwell, of which the first two are finished and occupied. There are about 800 tenants, each of whom obtains one, two, or three rooms at the respective rents of 2s. 6d., or 4s., or 5s. a week. These rooms are modern rooms, pleasant and airy, with plenty of shelves, an oven in every grate, and civilized con- veniences, and the only restrictions on the tenants are that they must pay their rent, must not be disorderly, and must not be visibly drunk. They are quite content with these terms, and the solitary objection we can raise to the report is that the trustees have not stated the per-tentage which the rents will yield on the sum invested. If after allowing for repairs it is five per cent. London might be covered with such buildings, but if less than this, the necessary work will still be much delayed.