History of the London School of Economics
The history of the London School of Economics dates from 1895, when the School was founded by Fabian Society members Sidney and Beatrice Webb, Graham Wallas, and George Bernard Shaw, with funding provided by private philanthropy, including a bequest of £20,000 from Henry Hunt Hutchinson to the Fabian Society.
City and Guilds of London Art School
In 1879 Sparkes secured the involvement in the art school of the newly founded City and Guilds of London Institute, which received financial backing from 16 Livery Companies. The new backing secured the financial future of the school without the strings attached to government funding. Under the new arrangement, the art school moved to a new building in Kennington Park Road, which it still occupies, and Lambeth School of Art was renamed the South London Technical School of Art. In 1937 it changed its name to the City and Guilds of London Art School, reflecting the historical and continued support of the city of London Livery Companies.