Timothy Trust is in the shipwreck Trader's Hut.
BTW, "lone matey" in the Trader's Hut is an easy kill, if you're into that sort of thing. My Triage skill shows he only has 3 HP left. One blow would kill him. I won't do it because of my blasted "code of honour" (in fact, I would have healed him back up to 65 HP if I had any First Aid Kits handy) but one of you cutthroats should go for it.
