The legacy was specific and left £500 Book Prizes to each of the three City of London Schools (CoL), the CoL Freemen’s School, the CoL Girls School and to the Guildhall School of Music and Drama. The legacy also specified that the remainder of the annual income from the invested money, should be divided equally between the three City of London Schools to provide Part Scholarship Prizes (or bursaries).

The prizes in both categories are known as the Edward Charles Lawrence Horners’ Awards for the two former schools. For the Girls School and the Guildhall School the prizes are known as the Rose Lawrence Horners’ Awards.

The bursaries at the three City of London Schools are match-funded by the City of London Corporation so that at each school, a pupil from a disadvantaged background has been able to be educated without the payment of any school fees.

The  Bursaries  average £7,000 a year for each pupil at an overall cost to the fund of some £23,000 per annum.