This text comes from a footnote on a diary entry in the 1893 edition edited by Henry B. Wheatley.
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Samuell gives a good description of the auction
[Inch of candle]
Aldermaston ready for candle auction tradition.
A candle auction is to be held at a Berkshire village later. The ceremony, which is held every three years, will see people bidding to lease a local meadow while a candle containing a horse-nail burns. The person with the bid when the nail drops out of the specially-made tallow candle will be declared the winner.
Chart showing the number of references in each month of the diary’s entries.