Churches owned by a Gild. Though Dugdale says that the "first and most
antient of the Gilds here was founded in the 14th Ed. III (1340)" it
is probable that, as in other places, religious gilds had for long
existed here and that the royal license or Charter of this date was
like that of Stratford-on-Avon in 1332, really a reconstitution or
confirmation of the Gild's rights, privileges and possessions.

This earliest one was known as the Merchant or St. Mary's Gild and its
first ordinances provided that "the brethren and sisteren of the gild
shall find as many chaplains as the means of the gild can well
afford." Then in 1342 that of St. John Baptist and in 1343 that of St.
Katharine was founded. The former at once founded a chantry of six
priests to sing mass daily in the churches of St. Michael and the
Trinity for "the souls of the King's progenitors and for the good
estate of the King, Queen Isabella his mother, Queen Philippa his
Consort and their children" and others, besides the members of the
Gild. In 1344 this Gild, desiring to have a building for its exclusive
use, received from Queen Isabella a small piece of land called
Babbelak on which to build a chapel in honour of God and St. John, two
priests being required to sing masses daily for the souls "of her dear
lord Edward," John, Earl of Cornwall and others. Did she seek to
satisfy her conscience thus for the woes she had brought upon her
_dear lord?_ The site thus given measured 117 feet from north to south
and about 40 feet from east to west giving room for the chancel only
of the present church, this being dedicated in 1350. But in 1357
William Walsheman, valet to the Queen and now her sub-bailiff in
Coventry gave further land, added a new aisle and increased the number
of priests while the Black Prince in 1359 gave a small plot on which,
perhaps, the tower and transept now stand. Within the next ten years
Walsheman and Christiana his wife gave to the Gild certain tenements,