A timely stroke of philanthropy as Nelson's watch is saved for the nation.

(From Lloyds List)

SOME good news in this year of Trafalganalia is that Nelson's pocket watch, destined to be auctioned by Sotheby's on October 5, will remain in Britain available for exhibitions and events, writes Neville Smith.

Predicted to fetch GBP250,000-GBP350,000 ($470,000-$660,000), the watch would have been one of the sale's highlights but for Bruce McMahan, founder and chairman of the Argent Financial Group, who purchased it for an undisclosed sum and placed it in trust for the nation.

Under the terms of the sale, the watch will not be offered for sale in the next 100 years, after which his descendants may dispose of it as long as it …