The provost, bailies and council grant to the deacons of the hammermen craft permission to take from every brother of the craft starting work within the burgh one half merk for his entry silver; secondly from each master who takes an apprentice one half merk; thirdly of every hired man one pound of wax; and fourthly of each master of the craft 1 d of offering each week to their patron St Eloi. Permission is also given to the deacons to punish those of their craft who commit wrong-doings. All the foregoing profits may be applied to the honour, utility and profit of their patron's altar and the upholding of the chaplainry of the same. Each master of the craft shall yearly send a candle of one pound of wax. Thus, they shall, God willing, decorate and gift their said altar with vestments, books, towels, candles, images and all other ornaments according to the honour of God and their patron.

The said day the prouest bailzeis and conseill being present for the tym with avise conseill assent and consent of the nychbouris being present for the tyme gaf grantit and concedit to thar wilbelovuit nychbouris and servandis David Broce William Wallace Willeam Loremar and Androv Smyth deikins of the hammerman craft for this instant yeir and to vthiris quhatsumeuer thar successouris deckins of the said craft thar full pouer and lecince to ressaif vptak and inbring of euery brother of the said craft that vptakis or haldis of new boucht or forg to wyrk within this burgh for his entra siluer half ane mark at his first beginyng secundly of ilke master that takis ane prenteis at his begining half a mark therdly of euery feit man that wirkis for mait and fee zeirly ane pund of wax ferdly of ilk master man of the craft euery ouk a d. of offerand to thar patrovne sanct eloy and attour the saidis prouest bailzeis and consaill has given grantit and assignit and be thir presents gevis grantis and assignis to thar said deikins and thar successouris thar full plane and express auctorite and pouer to amend puneiss and correct all maner of trespassouris and failtaris of thar said craft for all trespassis and faultis committit be tham concerning thar said craft and all vthir small faltis dovne amang tham self outaking bloudweck and deit The quhilkis dewiteis that is to say entran siluer prenteis siluer offrand of master li. of wax of feit seruandis to gidder with the correctionis of the faltis forsaid salbe applyit to all ther mest proffeit it may be to the honor vtilite and proffeit of thar said patronis altar and vphald of the cheplane of the samyn as thai will ansuer to god and to thar said patron be the avise sycht and consideratioun of all the masteris of the said craft quhilk masteris and ilkane of tham sall zeirly vphald and send ane honest candill of ane pund of wax of thar awne expenses and sua thai sall godwillene decor and dote thar said altar with vestmentis buikis tovellis chanlair ymagis and all vther ornamentis according tharto to the honor of god and thar patroun.