ILLINOI S UNIVERSITY OF ILLINOIS AT URBANA-CHAMPAIGN PRODUCTION NOTE University of Illinois at Urbana-Champaign Library Brittle Books Project, 2010. [REVISED EITO. PLonbon Cout ROYAL COMMISSION ON ouncii, LONDON Ana1ysis GOVERNMENT of the Accounts of the Corporation of the City of London, and the Rating of London, for the four Authorities (exclusive of poor law) within the years City 1889, 1890, 1891 and 1892; together with a Memorandum on the expenditure of the Corporation, its revenues from estates, markets, &c., and its debt, and an estimate of the financial effect of unification. G. L. (JoME, Statistical Oflecer. [Ordered by the Special Committee on London Oo ernment [B] to be printed, 5th May and it6th Noveraber, 1893.] COPYRIGHT NOTIFICATION In Public Domain. Published prior to 1923. This digital copy was made from the printed version held by the University of Illinois at Urbana-Champaign. It was made in compliance with copyright law. Prepared for the Brittle Books Project, Main Library, University of Illinois at Urbana-Champaign by Northern Micrographics Brookhaven Bindery La Crosse, Wisconsin 2010 9Lonbon Count*2 Council. ROYAL COMMISSION ON LONDON Analysis of the Accounts of the Corporation of the GOVERNMENT. City of London, and the Rating Authorities (exclusive of poor law) within the City of London, for the four years 1889, 1890, 1891 and 1892 ; together with a Memorandum on the expenditure'of the Corporation, its ,revenues from estates, markets, &c., and its debt, and an estimate of the financial effect of unification. G. L. GOMME, Statistical Offcer. [Ordered by the Special Committee on London Government to be printed, 5th May and 16th November,. 1893.] COUNTY HALL, SPRING GARDENS, December, 1893. (3026) B] CONTENTS. Pages Memorandum1. Plan of the Analysis . * .. 2. Result of the Three Years' Transactions on Balances 3. Special Items of Expenditure and Account v-vii 4. Comparison of the three deficit years, 1890-92, with the surplus year, 1889 .. .. .. . 5. Estates and Funds at the Disposal of the Corporation xii-xiv 6. Interest on Cash Balances xv-xvi 7. Markets .. .. .. .. 8. Reserve Fund .. .. .. 9. Charges for Debt on General Estates 10. Trust and Statutory Funds .. .. 11. .. .. .. .. . .. .. xvii .. .. xviii-xix .-.- .. . . .... Charges for Debt on Trust and Statutory Funds .. .. xx-xxii .. .. xxiii-xxix . xxx-xxxiii 12. Estimate of Total Debt falling on General Estates .. . .. xxxiv-v 13. Classification of Annual Expenditure .. . .. xxxvi-xxxvii .. .. 14. Differentiation of City and County Expenditure, of the Corporation . xxxviii-xxxix 15. Estimated Financial Effect of Unification .. .. .. . .. xl-xlii 16. Expenditure on behalf of Freemen of the City 17. Bequests Administered by the Corporation .. .. . . .. . 01 xliii .. 18. Loans Account . .. .. .. .. xliv xlv .. 1,-Revenue and Expenditure of the Corporation of the City of Londoni. Revenue from Real and Funded Property, gross and net .. 2,3,10,11,18,19,26,27 2,3,10, 11, 18, Charges on Net Revenue and balances carried forward .. 19, 26, 27 iii. Increase of Revenue by receipt from remunerative undertakings 4, 5, 12,13, 20, 21, 28, 29 iv. Application of Balances of Revenue to Permanent Works .. 4,5, 12, 13, 20, 21, 28, 29 ii. V. ,, ,, Justice and Police ,, vi. , ,, vii. , ,, viii. ,, ,, administrative purposes 6, 7, 14, 15, 22, 23, 30, 31 Mayoralty and Civic purposes 2.-Revenue 6, 7, 14, 15, 22, 23,30,31 .. .. .. optional purposes , .. 8, 9,16,17, 24, 25, 32, 33 .. 8, 9, 16, 17, 24,25, 32, 33 and Expenditure of the Rating Authorities of the City of London.. 34-35 3.-Summary of Receipts and Expenditure of the City of London (for all purposes except poor and county purposes) .. 9 0.. 0 0 4.-Expenditure on behalf of the Freemen .. 5.-Receipts from Rents from 1869 to 1891 . 6.-Loan Account 7.-Index 0 .. .. . .. .. .. .. 36-37 . . 0 0 0 0 ... . .. .... .. 38-39 40 .. .. r42-49 EXPLANATORY NOTE. The analysis classifies the expenditure of the Corporation under the various heads of charge so as to set forth the evidence it affords of the municipal services which the Corporation performs. It further shows out of what revenues each service is paid, marking the stage at which the revenues from General Estates and funds cease to meet the annual expenditure, and the several later stages where revenues from other sources, e.g., market profits, bear portions of the expenditure, and finally where the available revenue ceases and a deficit occurs, which is met out of other funds. The prefatory memorandum examines the result of this analysis from three standpoints:(1) Financially. (2) Administratively. (3) With reference to unification. (1) Financially it shows that in the four years there was a net deficit in revenue of £74,001 19s. 5d. (pp. ii-iii) and it shows how this deficit was met, namely, by Reduction of cash balances (allowing for error, see note on p. ii) .. .. Transfers from Reserve Fund .. Sales of Property .. .. .. .. .. .. .. .. .. .. .. £38,195 14 28,821 10 6,984 15 1 1 3 £74,001 19 5 The next stage is to clear this deficit of any special expenditure so as to arrive at an estimate of the normal state of things. The memorandum shows that sales of property have reduced the General Estates by £6,114 19s. 11d., that provision is made for the City Grain Duty Sinking Fund, leaving an available balance of £5,942 8s., and that the City of London Court investments were increased by £4,851. Special expenditure, under ordinary services, is then tabulated (p. vi), and also the charges in respect of loans paid for out of the Estates (p. vii). A comparison of the three deficit years with the surplus year is then made (p. viii) in order to see where the pressure was, and the significance of this examination, in its bearing upon the future position of the Corporation in municipal matters, is pointed out (p. xi). The next stage of the memorandum is to examine some of the details of receipt and expenditure. The analysis of the revenue from rents of the General Estates, so far as it is possible to compile it, is given on p. xii, and as this revenue is drawn upon both by the Court of Common Council and by the Court of Aldermen, the expenditure incurred by each of these bodies is given (p. xiii). The expenditure thus incurred by the two bodies was not entirely met by revenue from General Estates, and the amount paid for from other funds is set forth on p. xiv, as follows :£ s. d. 1889 1890 1891 1892 x 1 1889 1890 1891 1892 .. .. .. .. 19,471 14 49,228 7 65,296 7 46,756 13 5 6 3 0 .. .. .. .. .. .. .. .. .. .. .. .. 4,067 12,533 14,546 10,056 9 8 - 11 5 2 6 8 The account called the Reserve Fund is summarised for the period from 1869 to 1892, and it is observed that however it served the purpose of a Reserve Fund in past years, its function during the four years 1889-92, was simply that of a transfer account, operating for the transfers made from the Clerkenwell Improvement Account to the Holborn Valley Improvement Account and to General Estates. This being so it is used in the analysis as a transfer account. This stage completes the examination of the actual revenue and expenditure of the four years. The next point to discuss is the charges for debt which fall upon the General Estates as security. The largest debt is that of the markets, charged first upon the market profits, and collaterally upon the estates. An estimate is made of this debt after applying the available market profits in each year, and it is shown that upon this estimate market revenue is hypothecated until 1927 for the payment of existing debt, with no provision for future capital expenditure. For the purpose of calculation it is assumed that this state of things will meet the market debt, but it seems to be a sanguine assumption. (p. xxii). Leaving market debt thus provided for, the remaining debt is set forth and shown to amount to £240,400. (p. xx.) It then becomes necessary to examine the trust and statutory funds, because not only does the Corporation possess a beneficial interest in some of these properties, but there are charges for debt upon them which may fall upon the General Estates as collateral security. These several accounts are examined in detail (pp. xxiii-xxix), the result showing that the Corporation has a beneficial interest in the invested fees of the City of London Court, amounting to £50,685, and in the annual (3026) A 2 J O J .. .. .. .. .. .. The revenue derived from interest is then analysed and the peculiar and anomalous position of the cash balances belonging to Rating Authorities is pointed out (p. xvi). The position of the markets is then examined, and details of the receipt and expenditure are given (p. xvii), it being pointed out that during the four years the profit accruing to the Corporation was used for general purposes, and not for the paying off of Market Loans. It amounted to-d 0 r o .. .. ii * profit of the Deptford Cattle Market, and that in the five other cases it acts as trustee only. The charge for debt upon these estates and funds are then examined (pp. xxx-xxxiii), the result showing that the General Estates of the Corporation may upon the estimate adopted become charged with a debt of £618,802. An estimate is then made of the total debt which the General Estates will have to meet. A period of 30 years is considered reasonable for the repayment of the principal, and the annual charge for this purpose is estimated at £4 3,836 (p. xxxiv). A table is then prepared, to show the effect of this payment upon the income of the Corporation. Market revenue is excluded, for the reason already explained; account is taken of the loan charges included already in the annual expenditure; credit is given for the exceptional expenditure of these four years; and, when the full loan charge is made, the result is a deficit income in each of the four years, which, upon an average, works out at an annual deficit of £32,792 10s. 6d. (p. xxxv). (2) For administrative purposes the memorandum then proceeds to classify the entire expenditure of the Corporation without regard to whether the revenue by which it is met is trust or general property of the Ccrporation, the result showing that the ordinary expenditure to be met year by year has been during the four years gradually increasing (p. xxxvii), namely :£ 1889 1890 1891 1892 .. .. .. .. .. .. .. .. .. .. .. .,. s. d. 517,519 19 4 521,581 12 1 539,559 12 11 551,743 4 2 This expenditure is then classified into two principal groups, namely, in respect of services for City purposes pure and simple (p. xxxviii), amounting to£ s. d. 1889 1890 1891 1892 .. .. .. .. .. .. .. .. .. .. .. .. 128,039 18 134,762 4 143,142 10 143,152 16 4 9 7 3 and in respect of services for county purposes, i.e., purposes whose range extends beyond the city (p. xxxix), amounting to1889 1890 1891 1892 .. .. .. .. .. .. .. .. .. .. .. .. £ 389,480 386,819 396,397 408,590 s. d. 1 7 4 2 4 7 11 (3) Finally an attempt is made to estimate the financial effect of unification. For this purpose it is shown how difficult it is to separate any of the Corporation functions and revenues from the whole, and the estimate proceeds upon the basis of a complete unification. For this purpose transfers are made Gf services from the Commissioners of Sewers and the City Police Commissioners, the revenue available from the City estates, both general and trust, is set forth, the new revenue from adjustment of rating is estimated, credit is taken for the further application of trust estates to county works of a similar nature to those for which the trust exists, account is made of the loss of revenue from cash balances, and the final estimate is to show that until existing debt is paid off there would accrue little or no profit to the general ratepayers of London from the transfer, the figures working out at1889 1890 s. £ 6,296 13 20,308 1 d. 2 7 (surplus) (surplus) - 3 (deficit) 3,532 13 7 (deficit) .. .. .. . .. .. 1891 .. .. .. 7,413 1892 .. .. .. MEMORANDUM. 1. Plan of the Analysis. The plan of this analysis of the accounts of the Corporation of the City, is devised to show the entire financial operations of the Corporation for the four years-1889, 1890, 1891, and 1892. The materials from which the analysis has been prepared are the published accounts of the Chamberlain of the City of London, and the Local Taxation Returns which are drawn up from the Chamberlain's Accounts. 'The Accounts consist of (1) the produce and expenditure of the City's estate, ,commonly called the " City's Cash," payments being m de under orders of the Court of Common Council and also of the Court of Aldermen; (2) accounts ,connected with the City's cash, which include the Reserve Fund, Grain Duty Loans Sinking Fund, Foreign Cattle Market at Deptford, Guildhall Library, School of Music, Fund for Widows of Freemen and Establishment Accounts; (3) Public and Trust Funds in the Chamber of London regulated by various Acts of Parliament, deeds, wills, &c., which consist of the Bridge House Estates, Blackfriars Bridge, Tower Bridge Construction, Gresham Estate, Holborn Valley Improvement, Commissioners of Sewers, Police, Ward, Coal Duty, Coal Market, Grain Duty, Epping Forest Fund, Lunatic Asylum Account, Miss Bathus' Bequest, Gas Meter Testing Fees, City of London School, Freemen's Orphan School, City of London School for Girls, Clerkenwell Improvement, Admiral Duff's Legacy, Ward's People's Recreation Ground, Mayor's Court Suitors' Fund, City of London Court, Profits of the Office of Chamberlain; (4) the Liabilities and Assets of the Corporation; and (5) Schedules of the Bonds issued by the Corporation. Altogether there are about forty-three different accounts. This method of keeping the accounts makes them very voluminous and unnecessarily complex, a very large number of the subsidiary accounts being .simply transfers from one account to another, which apparently do not serve any purpose of great importance. One object of the analysis has been to resolve the whole transactions into a simple matter of receipt and expenditure, and the result is to show what a small sphere the whole financial transactions of the Corporation occupy in London municipal affairs. There are two classes of operations; first, those relating to the general funds at the free disposal of the Corporation; secondly, those relating to the trust funds and funds created by Act of Parliament. The transactions in both of these classes reveal the total expenditure of' the Corporation, but a detailed .analysis is necessary to show the effect of such expenditure upon the revenues of the Corporation. The balance of revenue remaining at successive stages, after charges have been paid, is shown in order to test the capacity of the revenue to bear the expenditure which has been placed upon it. The analysis of receipts and expenditure is divided into eight classe, 1Z. :- 1.Real and Funded Property, and Dues and Duties. 2. Charges on Net Revenue. 3. Remunerative undertakings-Markets. 4. Permanent Works. 5. Justice and Police. 6. Administrative purposes. 7. Mayoralty and Civic purposes. 8. Optional purposes. The balance of Revenue at each of the eight stages is shown, and those balances which do not fall into the general funds of the Corporation are stayed .at the point where the legal expenditure upon the trust funds ceases. 11 2. Result of the Four Years' on Transactions Balances. The result of the four years' transactions on the General Estates and Funds is a net deficit in income of £74,001 19s. made up as follows 5d., s. £ 641 16 1889-a surplus balance of + 1890--a deficit balance of - 19,599 14 1891-a deficit balance of - 33,574 7 21,469 14 deficit balance of d. 6 (page 9.) (page 17.) (page 25.) 5 (page 33.) £74,001 19 5 (See note (a) p. vi.) 1892-a Net deficit 6 - This deficit was made up by (1) a reduction of the cash balances from £46,137 5s. 4d. at the beginning of 1889 to £7,930 6s. id. at the end 1892, or a total reduction of £38,206 19s. 3d., (2) transfers from the Reserve Fund of £28,821 10s. id., and (3) sales of property £6,984 15s. 3d. From the total of these amounts must be deducted Lii 5s. 2d., being a sum transferred from the balance of Revenue Account to Capital Account in without specifying the corresponding charge in the accounts (see note c), in consequence of which the Revenue Accounts are charged less by £11 5s. 2d. than the balances show them to be. The details of the surplus or deficit balances in each year are as follows. The increased balance of 1889 was derived from the following accounts of 1890, Balances at beginning of the Balances at end of the year. Increase or Decrease. year. £ .. City's Estate .. .. Library Account .. School of Music Freemen's Widows' Fund City of London School.. Freemen's Orphan School Establishment Account.. .. Reserve Fund .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. s. £ s. d. 44,381 12 9 375 2,612 46,137 - £ s. 34 17 d. -99 116 19 5 -167 11 -82 3 9 1 72 18 10 -881 16 10 d. 44,346 15 68 11 9 199 2 6 58 18 10 -736 3 1 -787 11 3 14 -145 12 - -463 375 - 7 3,276 5 4 46,779 11 - 4 - 324 5 - 11 - 663 9 9 6 10 - - 1 10 19 6 641 16 1 6 This increased balance was augmented by receipts from sales of property amounting to £3,375 on general estates, and £9,000 to the Reserve Fund, which, to hand over left the Corporation with a cash balance of £59,154 the following year. The deficit of 1890 was provided for as follows Is. Balances at beginning of the year. (a) (b) (c) £41,121 This This This 19s. to, Balances at end of the year. Increase or Decrease. includes an addition of £3,375 from the sale of property in 1889. includes an addition of £9,000 from the sale of property in 1889. is £11 5s. 2d. in excess of that shown in the printed accounts of the Corporation, page 87, l0d. This difference is due to a discrepancy in the balances of the Capital Account. s. d. £ .. 3,015 - 7 The balance on capital at the beginning of the year was.. 16,222 4 2 .. .. The balance at the end of the year was a deficit of Showing a total payment in the year of The 10d. .. .. £19,237 4 9 payments accounted for in detail amounted to £19,248 9s. lid., or a difference of £11 5s. 2d. taken out. of the balance of Revenue Account. Ili This shows a decrease in the General drawal from the Reserve Fund, leaving balance of £39,554 7s. 10d. to hand over for purposes. The deficit of 1891 was provided for follows :- Cash Balance and a large withthe Corporation with a reduced the year 1891 for current revenue by a reduction of the balances as Balances at Balances at beginning of the year. City's Estate .. .. .. Library Account .. .. School of Music.. .. .. Freemen's Widows' Fund " Architect's Establishment Account City of London School .. .. Freemen's Orphans' Fund Account Reserve Fund .. .. .. £ s. d. 41,121 19 10(a) 34 59 2 4 9 Balances at end of the year. £ s. d. 6,919 7 1 10 13 776 16 31 18 10 375 - - 7. 8 24 18 10 - - - Increase or decrease. £ s. d. -34,202 12 9 -23 6 9 717 13 11 -7 -375 - - - - 5 4 -1,083 -995 13 5 4 9 -1,018 13 11 -1,382 1 64 19 -386 14 - - - 637 13 - 637 13 39,543 2 8(a) 5,968 15 2 -33,574 7 - 6 The decreased balance (£5,968 15s. 2d.) was augmented by a transfer from the Reserve Fund. The total transfer appearing in the accounts (p. 99) was £10,000. Of this £178 9s. lid. belonged to the ordinary revenue of the Reserve Fund, and £9,821 10s. Id. was derived from the sale of investments. This latter amount was, therefore, an addition to the balances of the year from sources other than revenue, and left the Corporation with a cash balance of £15,790 5s. 3d. to hand over to the following year. The deficit of 1892 was provided for (1) by a reduction of balances as follows :Balances at beginning of the year. City's Estate .. .. .. Library Account School of Music.. Freemen's Widows' Fund City of London School.. City of London School for Freemen's Orphan School Reserve Fund .. .. SGirls Girls £ s. d. 16,919 7 1(b) 10 13 7 776 16 8 24 18 10 -1,018 13 11 -1,382 - 1 459 3 1(c) 15,790 5 3 Balances at end at end ofBalances year. of the £ -5,431 s. d. 1 10(d) 6 2 7 805 12 3 23 18 10 Increase or Increase or decrease £ s. d. -22,850 8 11 -4 11 28 15 7 - - 1 3 1 - 4,375 2 273 13 1 1 4 316 11 3 13 11 -17,959 19 2 -1 -1,616 15 2 -598 4,375 -1,108 2 7 775 14 -2,169 and (2) by sale of property amounting to £3,509 15s. 3d. The deficit balance, £2,169 13s. 11d., was augmented by a sale of property in the reserve fund, amounting to £10,100(e), of which £10,000 was transferred to the general estates, and £100 left in the reserve fund balance. This left the Corporation with a cash balance of £7,830 6s. id. in hand for current purposes at the end of 1892, of which amount the balance of the general estate was £4,568 18s. 2d.(d), and increased the balance in the reserve fund by £100, or from £775 14s. 4d. to £875 14s. 4d. (a) (b) (c) (d) (e) See foot-note, page ii. This includes an addition of the £10,000 transferred from the reserve fund in 1891. This is exclusive of the £178 9s. 11d. transferred to the Corporation estates in 1891. This is exclusive of £2,000 received from deposit on contract for electric lighting. £1,100 of this is from City Bonds, and £9,000 from Clerkenwell improvement. (3026) ,3 iv h nieym toto Estates and Funds of the Corporation, but had to fall upon General revenues derived from the City of London Court, Markets, transfers from The following the Reserve Fund, and balances accrued in previous years. the extent to which this occurred. The amounts stated therein table shows are the portions of the total charges under each head of service which were paid for out of the general estates, and not the full charges incurred, the other portions having been met out of receipts in aid n no case was the expenditure in each ya s. d. £ £ s.d. Receipts from General Estates and FundsRents Bequests Interest .. .. .. .. 158,555 2 6 188 6 10 15,910 13 4 .. .. .. .. .. .. 2 174,654 4 8 189,827 9 11,587 16 1,040 11 1 19,687 2 3 1 9 12,965 11 867 11 - - Market Leadenhall (full charge) .. - .. .. Approach of charge) .. of charge) .. .. .. .. and .. Officials Civic charge) IF Officials .. 4 1 6 4 7,650 16 2 1,212 17 9 12,301 18 1 540 - 7 559 16 10 3,024 18 4 5,465 13 5 1,249 7 7,461 4 3 9 3,785 5,302 - 9 7,321 14 8 1,147 10 4 10,518 5 11 20186 709 16 2 1,399 16 ii 30,107 15 11 21532 604 16 8 1,450 17 1 32,340 11 4 214196 8 - 1,222 3 1,305 4 27,840 7 1 4,877 3,435 331 6 3 -55 11 3 4 6 8 3 9 - 5,147 5 2 9 -559 6 ii 3,272 13 ii 314 12 1 3,295 28 33,282 11,299 15,898 - 18 4 6 15 8 14 5 15 - 3 3 17 10 4)682 1 8 - - - 2,587 314 6 11 6 4,457 - 9 28 - 3 29,268 13 3 10,875 4 17,622 9 8 10 3 15 17 1 9 2 14 6 3,030 7 95 8 4 32,322 4 5 10,091 8 15,040 16 3 5 1,242 15 2 1,281 19 3,778 12 2 3,721 10 9 5,043 4 4 3,883 18 5 7,048 19 8 6,653 10 9 14,191 3 1,152 14 1,020 1,126 12 - 1,068 11 6 854 12 3,032 14 7 3,043 16 9 2,540 16 ____ 7 6,011 2 6 178,679 15 10 223,657 7 4 222,028 18 8 4,025 13 2 33,829 17 7 49,578 12,533 11 14,546 (full 1,061 5 5 1,301 5 - 6 6 (full .. .. - - - 206,741 4 6 1 32,026 1 1 5 2 10,056 2 applied to meet 9 8 600 - - 22 3 - - - 4,067 .. City of London Court Balances of 1 - 8 3,032 39 29,148 9,369 17,375 other receipts profits 17,212 9,818 1,415 11 11 2,671 6 10 412 16 11 Satrlell ofpoery Balance carried down and met out of Market 4 1 5 4.580 .. Law and Parliamentary (full .. .. .. charge) .. Library, Museum, &c. (balance of Other receipts exyenditure- 4 1 1,040 17 213 .. .. .. charge) .. Guildhall and other buildings .. .. .. (full charge) .. Receptions (full charge) .. Pensions for Civic 10,400 11 877 15 6,588 19 407 7 10 1,644 7 8 26,947 14 3 .. .. Weights and Measures (balance .. .. .. of receipts) .. Lunatics (balance of charge) .. Reformatories (full charge) Port of London (balance of .. .. .. charge) .. Petroleum (balance of charge) .. .. Establishment (full charge) .. .. Pensions (full charge) .. Mayoralty (full charge) .. State 9 5 3 383 1 4 6,100 4 10 .. Magistracy (balance of charge) 5 7 1,704 .. .. .. .. 3 174,715 4,568 12 .. Mayor's Court (balance of charge) .. Criminal justice (full charge) Borough Court, Southwark (full Sheriffs (full charge) Coroner (full charge) Police (full charge) 3 2 4 2 10 - 1,436 Parks and Open 8paces (balance .. 135 14,011 9,076 13 .. .. .. Dues and Duties (deficits) Dwellings for the poor (balance charge).. 8 Improvement Valley 160,568 18 - 3 1,083 (balance of charge) 5 11 12212 4 14,560 18 4 7 17,013 lolborn 157,767 £ 172,450 16 9 s.d. s.d. £ 20,062 19 8 .. .. 9 173,785 8 16912 15,872 8 Chargespaidfor out of these receipts. Collection and management of .. estates (full charge) .. Bequests (full charge) 1892. 1891. 1890. 1889. other previousyears - Transfers from Reserve Fund decreased.. 4,689 12 8 +663 Balances of Reserve and Sinking Funds increased or - - LI 6 19 4,025 13 2 U - 4,100 100 19,599 14 - - - 23,752 17 - - 5 - 6 8 500 - - - - 15,790 5 3 +11 3,509 15 3 2,169 13 11 - 9,821 10 1 36,232 14 11 48,220 12 8 32,026 - - 4 -1,357 9 5 - 33,829 17 7 49,578 2 1 32,026 +2,402 17 - - 1 1 V 3. Special Items of Expenditure and Account. The balances shown by the four years' accounts were affected by two special items of expenditure. These special items were (a) Investments. (b) Exceptional expenditure out of General Estates and Funds. (a) During the four years several investments and sales of investments have taken place, and it is important to ascertain their effect upon the financial position of the Corporation. The absence of a capital account, however, renders it difficult to ascertain what has been treated by the Corporation as investments out of revenue. As far as it is possible to gather from the accounts as they stand, the following is the position of affairs. The amounts invested and withdrawn from investments were as follows:1889. £ From the City's Estates ,, Interest .. .. .. ,, Gresham Estates Bridge House Estates .. Holborn Valley Improvement City of London Court .. .. - .. .. Grain Duty .. d. 8. .. ,, 1890. 1891. £ s. d. 12,923 - 5 59 3 11 £ .s. d. 8,695 9 10 471 2 10 - 2,530 - 200 6 11 -600 - - -4,100 - - -600 ,, - - 11,612 11 3 95,113 - - - £ s. d. -14,336 13 8. - - 81,000 4,946 12 - 1892. 5 4,091 16 2,365 - 4 - 5 - - 4,604 7 8 -3,275 9 7 The details of each of these investments were as follows :-The investments out of the City estates consisted in 1890 of a transfer on account of commutation of renewing fines for leases, applicable to the discharge of loans raised on the credit of the City's Grain Duty (Accounts, page 85), of £11,813 6s. 6d., of which only £9,410 9s. 2d was actually invested; purchase of premises for the Commissioners of Sewers amounting to £2,825 is. 3d. (page 85 of the Accounts); and an investment of £687 10s. Od. in Consols. This made a total investment of £12,923 Os. 5d., and a balance available for investment of £2,402 17s. 4d. In 1891, there was a further transfer of £7,151 7s. 9d. to the City Grain Duty Loans Account, all of which was invested; a purchase of property at Shiplake Lock Island, and Walton-on-Hill, amounting to £1,036 12s. 8d.; an investment of £191 13s. 10d. in Consols, and an investment of £1,357 9s. 5d. out of balances (£2,402 17s. 4d.) of Grain Duty Sinking Fund. This made a total investment of £9,737 3s. 8d. From this must be deducted amounts received for sale of property £1,041 13s. 10d., which leaves a net investment of £8,695 9s. 10d. ; and a balance available for investment of £1,045 7s. In 1892 there was the completion of the purchase of land in Walton-on-theHill, £62; the purchase of the surface of part of the ventilator on the Yictoria Embankment, £508 6s. 2d.; the purchase of Consols, £200; and the investment of £1,829 8s. 7d. on account of the Grain Duty Sinking Fund, making a total of £2,599 14s. 9d. investments out of the general estates and funds of the Corporation. There was also an investment of £663 6s. 4d. out of balances (£1,045 7s. 11d.) of Grain Duty Sinking Fund. This made a total investment of £3,263 is. id., and left a balance available for investment of £382 is. 7d. Against the investment out of general estates and funds (£2,599 14s. 9d.) however, must be set the sale of Corporation property amounting to £6,109 10s., and the sale of bonds, £1,100, to feed the reserve fund for transfer to the general estates. This shows a balance of £4,609 15s. 3d. used for the current purposes of the Corporation from investments. Against the £663 6s. 4d. invested from Grain Duty must be set the sale of £15,000 bonds from the Grain Duty Sinking Fund, showing a net withdrawal from these investments of £14,336 13s. 8d. The four years' transactions in respect of investments out of the general estates show an addition of £7,281 16s. 7d. Of this amount £5,412 is. 3d. belongs to the City Grain Duty Loans Account to meet the deficiency in the lid. (3026) B 2 VI Grain Duty, which is charged with the purchase and maintenance of certain open spaces outside London. The remainder, £1,869 15s. 4d., is to be set against £3,375 sale of property used for current purposes in 1889, and £4,609 15s. 3d. in 1892, thus showing a net decrease in the investments made during the four years of £6,114 19. 11d. The investment in property for the Commissioners of Sewers is not very clear to understand from the information supplied by the accounts and further enquiry is needed (a). The amounts invested from interest are simply the conversion of interest on Grain Duty Loans sinking funds into capital. The Gresham Estate purchased City Bonds in 1892 at £4,091 16s. 5d,, presumably as a sinking fund for debt charged on that estate. The Bridge House Estates in 1890, invested £200 in Consols, being the premium on granting a lease, and £2,365 in 1892 for the purchase of the leasehold interest of Finsbury Chapel. This presumably increases the value of these estates by the same amount. The Grain Duty investment in 1890 was in Consols, and was a contribution towards the sinking fund of loans borrowed on security of the Duty. The Holborn Valley Improvement investments are purely financial arrangements for the meeting of outstanding debt on that improvement, and do not affect the general estates of the Corporation. The investment of funds from the City of London Court ultimately benefits the City's general estate. Revenues from this Court belong to the Corporation, and are dealt with under 15 Vic. cap. lxxvii. (clause 27). " The Mayor, Aldermen and Commoners shall from time to time make such rules as to them shall seem meet for securing the balances and other sums of money in the hands of any officer of the Court, and for the due accounting for and application of all such balances and other sums of money." Until 1887 the funds of the Court were kept separate from the general funds of the Corporation, interest on investment being carried to the account of the Court. Since that date interest on investments have been debited to the City's cash, and sales of stock from the investments have been used for the general purposes of the Corporation, namely, £600 in 1889, £4,100 in 1890, £100 in 1891, and £500 in 1892. These amount to a total sale of investments of £5,300. The investments during the same period being £10,151, there is a net addition to the investments of the City of London Court of £4,851. The investments which affect the General Estates therefore result as follows :For Grain Duty Sinking Fund, net addition of .. General Estates, net reduction of City of London Court, net addition of .. .. .. .. .. .. .. ., 6,114 19 11 .. .. .. .. .. 4,851 £5,942 8 - - (b) The exceptional expenditure out of the General Estates and Funds in each year was:1889. Leadenhall Market Approach (page 2) Mansion House - (pageS)) (page 32) £ 2,665 s. d. 7 6 £ s. 1891. d. - £ 1892. s. d. .. .. 2,055 .. .. .. - 6 5 s. d. - 6,000 Council Chamber-Alterations (pages 7,15) .. £ -- Drainage Works .. .. 1890. .. .. .. 2,236 798 5 4 - - - 5 14,983 11 - - 2 3 - - - 4,593 19 3 1,470 6 1 - - - 3,210 - - 1,500 - - 4 4,117 18 - 3,987 11 9 8 11 32 13 1,544 2 5 - 1 - 13,498 12 9 - Education-Works at Schools (pages 24, 32) .. .. .. .. - Parks-Purchase of Land and Improvements (pages 21, 29) .. .. Billingsgate Buildings (pages 5, 13, 21, 29) .. .. .. ., .. 7,502 6 1 10 4,534 - - 1,109 13 11 7 6 Mayor's Court-New Offices (pages 6, 14, 22) Investments .. .. .. .. .. 2,331 .. .. .. - 16,790 21,425 16 5 - - 12,957 17 10 (a) In cases where the purchase of property is not a beneficial purchase, it cannot, in strictness, be considered an investment. The amounts coming under this head in each year would then be a part of the expenditure, and would correspondingly increase the revenue deficits (p. ii), and would form a part of the exceptional expenditure tabulated above on this page (vi). VII Besides these there were the charges upon the General Estates in respect of debt, for which the Estates were collateral security, or, in cases outside the ordinary work of the Corporation, for which the Estates were the first as follows: security, 1889. 1890. £ s. d. Leadenhall Market Approach.. .. Holborn Valley Improvement.. .. , Investments (Grain DutySinking Fund) 5,208 - - - 5,208 - - - 1891. 1892. £ s. di. 5,208 - 20,062 19 1 11,872 10 5 £ s. d. 5,208 - 19,687 2 4 7,622 10 7 £ s.,cd. 5,205 15 17,212 - 1 37,143 32,517 12 22,417 15 9 6 11 - - (a) The amount paid to Grain Duty Sinking Fund in this year was £1,829 8s. '7d., but it was covered large sale of property, and therefore virtually was not paid for out of the year's revenue. -(a) 1 by a til 4. Comparison of the Three Deficit Years 1890-92, with the Surplus Year 1889. The oniy year out of the four which shows that the receipts were sufficient to meet the expenditure is the year 1889, and in order to bring out the nature and cause of the deficits shown by the other three years, a comparison of the figures is necessary. The following table gives the increases and decreases of the three deficit years 1890-92, compared with the surplus year each head of receipt and expenditure :- 1891 s. d. 6 3 - 4,244 7 10 £ s. 2,013 15 5,402 7136 17 9191 -1- 2 4 + 6,764 14 344 11 455 11 10- 514 13 £ 1892 s. d. 1901411+ 15111 38 4 2 63 3 11 + 145 68- 19,474 14 224 14 3,260 9 8 + 10,383 13 557 16 7 *-5,251 5 5- *+ 79 14 10 3 327 17 2,48 7 + + £ s. d. 8,778 Mayor's Court.. Receipts Payments .. . . 6+ 7- 3,873 8 - 7,733 5 31363,764 10 1 + 15 5 2,065 16 0 - 1,320 1 1,419 5- 1,679 - -1,21910 3,699 9 - 5- - 552 146- 915 5 3 9 - - 4,918 19 Criminal JusticePayments Borough Court- 9 10 Coroners-Payments 666 4 6 101+ 82 2 9+' 304 9 1 1,425 17 5 741 10 19,687 14112 438 9 Weights and Measures,. .. Receipts .. . Payments + Lunatics-Receipts Payments . + 10813 . + 872 20 47 2 9+ 8+ 6919 637 2 7+ 6+ 50417 606 12 932 13 10-361 15 11- 194 2 205 13 6 6- 7513 1 9 6,575 -3 13 13 51+ 4,028 12 1 + 4,009 9 5 6- 3,760 16 7- 2,081 1 111 764 866 51- 6 7- . + . + -- 9 4+ 4516 55511 -- 1- . Port of London.. Receipts .. Payments - + + + + 15114 -+ 14910 9+ 1 5 -+ 5618 441 164+ 3,261 7 - 9 1 1 15 11 19 6 -9 8 302 8 4 -197 244 10 9 + 193 10 3,160 1 8 - 5,392 17 2 10 7 1 1,360 19 11 81415 339 3 - 296 16 162 4 6+ 42512 7+ 2 5 -+ 9 4 -15 9 + 4,019 98 + 1 9+ 31 9 1,45519 6 3 58 9 945 15 254 4 67 2 763 567 2 11, 5+ -4, 418 16 4- 601 7 98 4 10+ 3 3- 263 8 2 55 13 2 7 - 3,219 11 Carried forward 10,507 1 51- 4,003 12 16,720 41- 5 - 83 19 11 98 16 5 1,424 10 6 11 14 9 11- 11 9 -1+ 4+ 7 11 11 1+ 2+ 101 15 - 570 17 11 + 81 12 - Reformatories.. . . -1 2 15913 17,212 - 3+ 2+ 2 10,941 - 892 13 Police-Payments 6 9- 1 11 + . Sheriffs-Payments Petroleum-Receipts . Payments . 1,899 10 6 9 -1,221 + Magistracy-Receipts Payments. . + 5 646 - 25104+ 1,345 11 10 + + 136 13 4718 4,076 10 +7,746 + 1,349 15 14 92- 12 18 4 -I- * + 5- - 20,062 19 12,435 17 6 5,860 17 3 + 8,511 15 - Parks-Receipts Payments 4,614 5 10 - 446 + Brokers' Rents--Receipt Dwellings for PoorReceipts Payments 1+ 4 10114 3+ -+ Leadenhall MarketPayment Holborn Valley Payment Markets-Receipts Payments EstablishmentReceipts .. .. Payments s. d £ - Metage- Receipts Payment. s-- Payments 1891 e- Interest-Receipts Metage Grain DutyReceipts Payments Fruit £ 15,230 1890 1892 £ s. d. 787 16 7 + Rents, &c., Receipts collection and Manag ment.. under Result of comparison showing gain (+) or loss (-) to each year. Details of comparison with 1889. 1890 1889, 1 208 -1-12,838 9 5 4 1 ix: Details of comparison with 1889. Result of comparison showing (-) to each year. gain (+) or loss s. d. £ S 1890. 1892. 1891. 1890. 2 s.d £ s. 10,507 1 s. d. Brought forward + - Schools-Receipts Payments - - 6+ 6+ 17815 -+ 114 5+ 8 117 - 7+ 1,745 6 1,598 19 10 + 3,719 13 919 14 3 339 1 7+ 7 5+ 7,28918 6 + 3,048 13 11 Pensions, Schools Almshouses Donations 6 1,974 7 12 1,481 10 + 3 8882 19 8 - 1 4 4 10 246 15 2 239 15 -- 10,412 11 4 + 2,568 16 3 165 8 + 2,978 7 11 - - 11 18 26,504 18 d. 12,888 -2,003 580 12 + 4,241 8 4 1,343 12 109 18 56 19 1,325 13 1 3 475 18 551 4 10 50 14 2 223 12 7 - + - 64 1,264 - - 7 5 19 14 7 72118: 2,334 18 181 9 - 547 2,523 1,476 220 3,270 2,932 48 491 97919 Pensions .. Mayoralty State and Civic Guildhall.. Receptions Pensions, Civic Law Library-Receipts Payments -I- 5 Y. £ s. d. 16,720 162 7 106 12 11 2 - 432 11 1892. 1891. 81-22,609 8 10 City of London Court- Receipts .. + . 3,500 -- 5,382 19 - - Minus balances of other accounts made good out of general estates 12,982 4 - Net Investments.. 18,365 %8 4 17,838 13 Balances of reserve fund and other accounts carried forward in each year . . . - - 17 -2,402 2 - 4+ 27,004 18 12 8 8 -22,709 36,171 11 4 - 00 6 -20,24110 I _ From this table _ - 22,709 35,573 13 5 - _I_ _ . I 1,357 9 5 34,216 4 -122,111 - I__________ it appears that the three years were better A than 1889 I I 1890. £ sd. £ Receipts from- . Rents.. Fruit metage Markets .. . Net payments for Schools Library and Museum.. Dwellings for the Poor . s. d. 4 1,481 10 3 979 19 - and other small items not necessary to specify. 9 10 8,778 9 304 9 7 6, 5Th (4 6 4,028 12 7 4,241 4 580 12 4,009 9 82 15 s. d. 9 4,614 8,511 £ .5 2 1 327 17 10 19,474 14 1892. 1891. 10,941 - 1 - 8 10 8 10 22,111 10 11 in respect of1 - 5971711 5971711+ Net differences between 1889 and the years agreeing 1890-1892 with the balances stated on p. ii 100 - - -9,166 5261010+ + - - 4 500 - - 9 1 - 3 8 8 5 - 10 - x And that they were worse off than 1889 in respect of:1892. 1891. 1890. £ s. d. 38 4 s. d. £ s. d. £ Receipts fromInterest .. .. .. .. 8 1,349 15 10 1,899 10 6 4 6 - Net payments for. .. .. 446 Dwellings for the Poor .. .. 7,733 .. .. .. .. Mayor's Court .. Criminal Justice .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. Metage Grain .. Parks .. .... Sheriffs.. .. Police .. .. Magistracy Lunatics .. Port of London .. .. .. .. Establishment.. Pensions .. .. .. .. State and Civic .. Guildhall Schools .. . .. .. .. .. .. School Pensions Holborn Valley 5 10 5 1,320 1 6 4,918 19 5 1,221 9 10 814 892 296 763 - 5 15 8 13 16 11 16 4 3,219 11 721 18 10 .. .. .. 181 9 1,264 12 - . .. .. .. .. .. .. .. .. 5 9 2 551 4 10 20,062 19 1 646 6 9 - 666 7 2,081 1 866 5 11 1,360 19 11 764 4,418 9 1 1 302 3,160 567 601 197 8 10 5,392 17 1 101 15 7 3,760 16 8 4 1 8 2 11 7 1 - 263 8 4,003 12 1 1 1,424 10 220 14 3,270 7 1,974 7 1,325 13 19,687 2 - 239 15 10,412 11 2,523 5 10 6 1 8 4 208 9 6 5 2,003 4 10 - 4 - 1,343 12 17,212 - 5 1 and other smaller items not necessary to specify. The question now narrows down into a consideration of the principal items of receipt and expenditure which produced a deficit in the three years. It will be found that they are charges in respect of debt secured on the General Estates, together with some charges which belong to the internal economy of the Corporation. In 1890 the Corporation had lost the Coal and Wine Duties, and a charge in respect of the Holborn Valley Improvement fell upon the General Estates for the first time; then increased charges were incurred in respect of dwellings of the Poor, Mayor's Court, Criminal Justice, Sheriffs, Police, Port of London, Establishment, Pensions, State and Civic expenses, and Guildhall. Even if the charges which haye been classed as exceptional be deducted, there still remains in these three years a considerable deficit as follows :1890 1891 1892 .. .. .. .. .. .. £ 1,826 2 20,075 14 8,511 16 s. d. 5 (surplus) (pages ii and vi) 9 (deficit) (pages ii and vi) 7 (deficit) (pages ii and vi) and this is coupled with the fact (as will also be shown later on) that with increased revenues from markets, no provision was made to pay off any of the market loans, and with increased revenues from rents, only partial provision was made for the debt accruing against the General Estates as collateral security. This statement of the figures deals with the expenditure as it actually occurred, without reference to all the contingent liabilities for which the Estates are security. It is, therefore, important enough to draw attention to the indication it gives of the financial position of the Corporation with reference to its municipal functions in London. It shows (1) that after eliminating every item from the accounts, which may be considered exceptional, the income from general estates and funds of the Corporation in the three years, 1890, 1891 and 1892, was not sufficient by £26,76t 8s. 11d. to meet the ordinary current expenditure; (2) that for the debt charged upon the Estates directly, and the debt charged upon the Estates as collateral security, only partial provision was made; (3) that the sale of property and investments has lessened the General Estates and funds to the extent of £6,114 19s. 11d. ; (4) that for any exceptional expenditure in future years no provision exists, xi and therefore cannot. be incurred out of income from the general estates; and (5) that in ordinary expenditure retrenchment must take place, or else the estates must yield a larger revenue by means not disclosed by the accounts. Unless the figures for these three years are very exceptional, and there is no evidence of this, the significance of these conclusions in relation to the question of unification lies in the fact that the condition of its finances must have an important bearing upon the position which the Corporation would take in the future in municipal matters if it were left in its present state. (3026) C xii 5. Estates and Funds at the Disposal of the Corporation. Having examined the special features indicated by the deficit balances, it is now necessary to turn to other questions relating to the expenditure incurred by the Corporation out of the estates and funds belonging to them, and not charged by trust or statute with any specific duties except those which the Corporation themselves voluntarily impose. In 1837 evidence was given before the Commission (p. 200), that most of the Corporation property was freehold situate within the City, chiefly in the neighbourhood of Broad Street, New Broad Street, Broad Street Fields, Fenchurch Street, Aldgate, Minories, and in the Parish of St. George's Hanover Square, known as the Conduit Mead Estate. Very little detail is given in the accounts concerning the revenues derived from the estates, the following being the principal heads for the four years 1889. (See page 2.) 1890. (See page 10.) d. s. £ s. d. £ 1891. (See page 18.) 1892. (See page 26.) s. £ d. Rents and Quit-rents : General rents, City of London and Liberties . .. .. 137,136 6 1 138,487 6 6 4 140,996 17 11 18,768 12 20 - 4 192 3 10 18,449 11 6 12 4 9 96 i 11 133,396 14 General rents, Counties of Middlesex, Surrey and Essex . .. Tenancies at will .. .. Quit-rents iu Ireland .. .. .. 17,720 19 11 21 - 10 189 - - 18,328 17 21 7 192 3 10 City's proportion of profits of the Manor of Lizard in Ireland (a) - - -1,000 - - - - - - 1,452 10 0 - 9 61 11 5 5 9 - - - 277 - - - - - 3,000 - - -2,000 - - 1,000 - - - - - - 2 288 84 Deposit on building agreements (less return of deposits) agreements .. .. .... Forfeiture of deposits .. on building .. .. Fines on renewal of leases: Renewal fines and interest, City .. of London and Liberties Commutation of fines, City of London and Liberties .. .. - 8 6 2,673 - 1,074 12 5 1,546 1 5 4,245 17 10 3,090 15 6 5,684 603 344 Commutation of fines, Counties of Middlesex and Surrey .. .. 50 - - 2,i85 7 6 Premium for granting a lease .. .. - - - 687 10 - - - - - - - - - - 465 1 3 162 - - 72 - - 158,555 2 6 173,785 8 9 157,767 5 11 3 4 Reimbursement of expenses on premises .. .. .. .. .. 160,568 18 3 These revenues are the primary funimds which meet the expenditure of the Corporation. They are drawn upon (1) by the Court of Common Council, and (2) by the Court of Aldermen. In the four years the Court of Common Council was responsible for the following expenditure : (a) The Manor of Lizard in Ireland was disposed of by the Corporation in 1892 (page 92 of th: Accounts). X111 I I £ s. d. 7,233 9 8 9,779 :13 7 Collection and Management charges Rents, Rates, Taxes, &c. .. Bequests .. Leadenhall Market Approach.. Holborn Valley Improvement.. Dwellings for the Poor Parks and Open Spaces Mayor's Court .. Criminal Justice Borough Court .. Sheriffs Coroner Police .. .. Magistracy 849 10 3,227 13 9,455 5,688 213 407 709 25,606 336 2 472 .. weights and Measures Lunatics.... Reformatories " " .. Port of London.. " ... .. Petroleum . . . Establishment .. .. . .. .. Pensions .. . .. Mayoralty . .. State and Civic Officials Pensions to Civic Officials Guildhball and other buildings Receptions, Honorary Votes, &c. . Law and Parliamentary Library, Museum, and Art Gallery Schools .. "" .. "" 7 10,086 12 11 .. .. 111 9,076 13 " . .. "" . Pensions to School Officers.. . .. Almshouses ". . .. .. Donations Grain and Fruit Metage Grain Duty Sinking Fund and other "" .. Investments . .. 1892. 1891. 1890. 1889. 2,969 5 5 8 7 7 4 19 17 3 9 11 10 - 10 8 8 3 6 10 3 - 8 29,697 15 4,201 5 - 16,693 19 11 904 1 5 320 -- 3,778 12 2 3,681 10 9 3,032 14 8,013 17 50,985 9 461 6 1,976 7 6,814 5 204 12 7 8 5 9 3 r £ 4,699 8, 266 651 6,588 19,425 17,832 4,994 13,154 6,928 214 1,222 370 26,493 362 158 3,999 331 3,198 96 33,022 4,880 14,697 967 426 5,043 3,858 3,043 7,465 49,386 1,012 1,925 s. 6 5 2 19 6 17 4 15 16 19 3 4 d. 7 1 8 1 1 1 3 4 5 6 6 8 - - 4 13 4 216,882 13 1 4 8 16 8 7 8 11 6,599 13 17,020 1,106 154 14,191 1,065 6,011 8,352 54,034 1,804 2,086 6,757 579 18 12 3 5 2 19 3 19 5 6 256,100 9 - 10 6 8 6 1 2 11 5 - 4 2 6 3 16 4 1 - 9 6 9 3 9 6 8 6 6 3 4 2 11 7 9 8 266,893 17 6 2,967 9 314 4,424 19 31 5 30,004 3 - 9,166 12 - 265,076 12 7 5 9 6 2 11 9 6 5 11 1 10 8,128 54,705 1,787 1,973 6,338 781 7 4 _-. 4 10 11 9 8 16 16 8 11 9 13 12 12 11 11 2 4 11 11 19 6,603 2,540 1 12,982 __t__ 2 2 7,136 8,902 7,332 201 709 464 28,568 829 567 3,682 314 3,474 30 33,759 6,625 15,762 1,110 368 7,048 4 9 11 13 4 6 11 10 3 10 9 16 4 12 4 4 1 4 16 9 10 2 18 7 11 7 7,037 17 336 - - 6,010 3 4 13 4 12 £ s. d. 3,802 4 2 6,598 7 708 5 3 7,650 16 2 17,212 - 1 6,213 9 3 5,735 3 1 8,540 5 11 5 9,543 1 838 2 215 3 604 16 515 17 30,723 13 9 531 10 1 £ s. d. 3,533 6 10 8,054 9 11 873 3 1 9,818 4 1 19,687 2 4 - 6 The powers of the Court of Aldermen to expend moneys were in the evidence before the Commissioners of 1834 (page 67) of and 1854 (see The expenditure actually Questions 2024-6), considered to be unlimited. incurred by them seems to have been limited to honorary grants, pensions to widows and orphans of deceased Aldermen (a), and charges in respect of their In the four functions. magisterial exclusively by the expenditure the years follows, Court of Aldermen was as controlled being noted it expenditure for certain administrative functions was transferred after from the Court Government Act, 1S88. s. £ Bequests. . .. .. Criminal Justice under the Local of Aldermen to the Common Council .. .. .. . .. .. .. Police .... Magistracy Weights and Measures.. .. .. Lunatics.. .. Reformatories .. .. PortofLondon.. .. .. .. .. . s. £ d. £ d. s. 34 7 6 378 15 - 975 4 6 7 2 1,616 17 6,538 17 1 6,806 46 16 411 19 - 392 18 3 9 7 10 6,394 202 16 - 1,347 7 6,807 12 3 1,539 5 6 - .. .. .. .. .. .. .. ., .. .. .. General Establishment.. .. .. 382 5 5 1 11 339 11 2 330 Pensions to Mayoralty .. .. .. 5,168 4 .. .. .. 67914 5,267 12 15611 4,773 602 StateandCivic.. Honorary Votes.. .. .. .. .. 157 4 5,210 17 9 343 5 6 2741810 1 .. 2 7 - .. .. 40 - - 2517 1 171 50 7 2 7 1 .. .. 700 - - - 700 - - .. .. 210 -- Petroleum Officers Pensions to Civic Donations .. Officials .. 19,865 14 - - -- 7 1 - --- 90-- 10-- 10-- -. - - 319 700 - 16,623 15 - 16,343 19 1 11 2 - 6 9 - 194 87 1 9 9 6 700 - - 210- - 210 -- 210 -6 8 --- .. 2,654 19 412 16 11 90-39 15- d. - - 1,341 s. £ d. 46 16 4 45 1892. 1891. 1890. 1889. that 1889 - 17,355 - 10 (a) This is the heading of the account suggested by the evidence before the Commissioners of 1854. The amount yearly expended by the Court of Aldermen does not, in recent years, include any item for widows and orphans of deceased Aldermen, but is wholly applied to Freemen. C2 (3026) xiv In many of the services the expenditure was aided by special receipts, so that the ultimate financial effect of the control by the two Courts has to be stated after account is taken of such receipts. The following table will show this 1889. (a) Orders of the Court of Common CouncilExpenditure .. .. .. Receipts in aid deducted (a) .. £ £ 6 3 £ s.d. 266,893 17 1 60,174 3 1 £ s.d. 256,100 9 6 66,129 19 1 1 3 206,719 14 - 189,970 10 265,076 12 58,686 11 158,161 1892. 1891. s.d. 1 68,721 10 8 5 6 16,623 15 - 16,343 19 2 178,026 16 11 .. 2 19,865 14 (b) Ordersof the Court of AldermenExpenditure .. .. .. .. s. d. 216,882 13 Net expenditure falling on the estates of the Corporation . Total net expenditure 1890. 206,390 223,013 16 3 223,063 13 2 17,355 5 - 10 207,325 11 3 The excess expenditure in each year beyond the receipts from the general was- estates s. d. £ 19,471 14 5 49,228 7 6(b) 65,296 7 3 (c) 46,756 13 0 1889 1890 1891 1892 -profits, These amounts were mnet out of interest, market and other revenues, which are also controlled by the Court of Common Council, besides the revenue derived directly from the estates and funds of the Corporation. These revenues are, as a matter of fact, applied to the general purposes of the Corporation, though in each case there are special circumstances which differentiate them from the general estates and funds. (a) These receipts are as follows : 1889 Dwellings for the poor.. .. .. Parks and open spaces .. .. .. Mayor's Court Magistracy .. .. .. .. .. .. .. .. .. Weights and measures.. .. Lunatics .. .. Petroleum .. Port of London.. Mayoralty .. Establishment .. Monument .. Library, &c. .. .. .. Schools .. .. Criminal Justice .. .. 1890 £ s. d. 5,518 -- 3 11522 16 11 9,072 4 2,151 - 7 - 1891 £ s. d. 5,530 19 1.969 5 11 1892 £ s. d. 5,470 1 9 1,670 17 - 7,852 14 2,292 12 7 9 - - - - 250 .. 194 2 6 158 13 4 567 .. .. 455 16 - 564 . .. .. .. 178 9 5 4 - .. .. .. .. .. .. .. 206 4 6 .. .. .. .. .. .. 410 2 188 20 179 891 4 .. .. .. , - -1 26 10 0 - --- -- 164 8 716 17 - - - 38,899 14 58,721 10 2 6 - 9 8 808 16 340 13 - 2 7,653 4 2 2,220 19 7 -- £ s. d. 5,654 6 1,949 5 3 7,392 15 2,655 17 7 - - 9 5 - - 50 14 6 - -17 10 11 6 1 - - - - - - 380 2 10 35 57 19 210 3 815 11 821 - 4 3 6 38,782 14 2 40,645 1 2 46,189 13 4 58,686 11 3 60,174 3 1 66,129 19 (b) This is exclusive of £2,402 17s. 4d. added to the balance of the Grain Duty Sinking Fund. (c) This is exclusive of £1,357 9s. 5d. taken out of the balance of the Grain Duty Sinking Fund. 1 xv 6. Interest on Cash Balances. The amounts received from interest on cash balances and securities in the four years were, in£ 1889 1890 1891 1892 .. .. .. .. s. d. 15,910 13 4 15,872 8 8 14,560 18 4 14,011 2 10 These receipts are from two sources. The first is interest on securities invested by and belonging to the Corporation£ 1889 1890 1891 1892 .. .. .. .. s. d. 4,093 9 3,842 8 11 4,160 12 4,284 8 5 The second and larger source is what is technically known as "profit on the employment at interest of floating balances in the chamber," the amounts being, in£ 1889 1890 1891 1892 .. .. .. .. s. 11,817 4 12,029 19 10,400 6 9,726 14 d. 4 9 4 5 The explanation of this receipt for interest on cash balances arises from the peculiar and ancient privileges of the office of Chamberlain. The Chamberlain of the City is Treasurer not only of the Corporation accounts but also of the several trust accounts, of the Police Commissioners and of the City Commissioners of Sewers. As Treasurer he has the use of the cash balances of each of these estates or funds, but the interest earned by each separate estate or fund is not carried to such estate or fund, but to the income account of the Corporation general estate. In this manner, though to a slight extent only, the ratepayers of the City are taxed for the purposes of the City Corporation ; because the interest earned by the cash balances of the City Commissioners of Sewers and the Police Commissioners, instead of going in relief of rates, as in all other rating authorities throughout the kingdom, go to swell the funds of the Corporation. The cash balances in the hands of the Chamberlain of London, in each of the four years, are shown in the following table:- Xvi 1889. .. Amount. Amount. Amount. s. d. £ 16,942 6 10 13 7 776 16 8 -1,382 - 1 24 18 10 18,280 17 3 627 805 12 3 -1108 7 23 18 10 -99 - 8. - - 375 250 1,643 13 1,828 9 2,128 12,276 11 9 7 4 1 1,543 5 -1,151 14 717 16 68,901 1 - .. .. .. .. .. .. .. . .. .. .. .. .. .. .. .. .. £ d. 24,899 15 8 34 - 4 59 2 9 -995 5 9 31 18 10 - 375 250 .. .. .. Gresham Estate.. .. .. Bridge House Estate .. .. Black friars Bridge Estate .. Clerkenwell Improvement .. Grain Duty .. .. .. Coal and Wine Duties.. .. Coal Market .. .. .. Deptford Cattle Market .. Holborn Valley.. .. .. Grain Duty Loans Sinking Fund Tower Bridge Construction Account Holborn Valley Loans.. .. Parks and Open Spaces .. City Meters' Provident Fund .. Bathus' Bequest .. .. City of London Court .. .. Gas Meters Testing Fees .. - 116 19 5 -463 4 5 72 18 10 .. .. .. .. .. .. .. 1892. s. d. £ 50,771 13 4 General Estates (including markets).. Guildhall Library .. .. .. School of Music Freemen's Orphan School .. .. Freemen's Widows' Fund .. .. Establishment .. .. .. .. Felons' Goods .. Lunatic Asylum.. Mayor's Court . Reserve Fund .. 1891. Amount. City of London Schools 1890. 19 2 18 1I 6 7 18 8 12 5 14 7 13 15 16 5 18,209 83,368 288 575 31 110 549 197,675 8. 4 7 4 1,690 19 -233 14 1,422 4 459 3 19,711 6 1 3 8 1 5,589 7 2,063 15 659 10 875 14 - 8 27,196 10 7 4,060 93,107 5,094 259 -1,043 498 3,033 17,852 5,287 1,045 28,859 82,980 289 255 11 3,605 619 3,302 5 72,934 11 4,271 5 171 16 Police Wards .. .. .. .. .. .. .. .. .. 16 9 13 2 7 6 2 7 3 7 14 11 15 6 5 16 17 3 7 6 3 2 4 8 6 11 2 5 1 8 5 7 6 245,817 8 6 7~ - -1 4,666 16 6 104,012 10 7 5,900 12 1 449 8 192 10 11 15 9 13 10 10 1 - 11 14 1 6 4 9 2,578 3,414 27,538 884 2,402 10,150 194,437 516 245 28 2,757 597 10 3 12 4 17 15 8 15 6 5 8 3 11 326,231 5 1 53,237 14 6 3,885 4 11 2,035 19 4 31,070 11 14,701 15 689 1 2 7 8 69,437 2 11 18,869 13 6 946 4 11 126,936 4 22,808 11 1,629 9 46,461 8 5 89,253 398,456 12 5 325,735 4 9 7 1 3 4 _ ,.. _ _ 59,158 18 Rating Authorities :Commissioners of Sewers.. d. - 11 25,763 18 11 1 - 3,307 56,033 3,465 917 819 491 4,493 23,538 1,472 £ 2,874 7,262 8,120 382 74,190 10,675 1,075 164 12 5,955 691 4 2 8 3 3 1 7 13 2 15 4 5 5 5 12 5 3 11 15 6 226,626 5 10 1 4 5 1 4 151,374 4 10 354,781 16 6 405,197 1 3 These are the Cash Balances which earn the interest. The percentage of the balances of each class shows how far the Corporation is indebted to its own funds and to the funds of trust and rating accounts in respect of interest. 1892. Corporation Estates (including markets) Trust Accounts .. .. .. .. Rating Authorities .. .. .. 6 71 55 93 37"36 xvii 7. Markets. The Coal Market and the Deptford Cattle Market are trust properties and wil be dealt with later on. The General Markets are governed by a long series et Acts of Parliament. The receipts in the four years were as follows £ London Central.. Leadenhall .. Metropolitan Cattle Smithfield Hay.. Billingsgate .. Farringdon .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . .. .. .. s. d. 96,847 7,430 28,487 129 24,218 1,950 13 5 18 8 18 2 8 3 11 5 1 10 159,064 12 - 82 (page 28.) 81 (page 20.) 1890 (page 12.) 1889. (page 4.) 102,868 13 7 7,676 7 25,969 - 9 10513 4 24,053 5 2 1,651 18 10 £ s. d. 106,998 14 3 7,546 7 7 26,336 9 10 97 9 6 23,966 17 2 1,565 1 7 £ 112,700 162,325 166,510 19 11 171,500 £ s. d. 1 5 s. d . 4 8 7,667 12 4 25,965 9 9 8616 9 24,418 11 11 661 14 1 9 6 and the expenditure, exclusive of loans, was as follows 1889. (page 5.) £ London Central.. Leadenhall .. Metropolitan Cattle Smithfield Hay .. Billingsgate .. .. Farringdon .. .. .. .. .. .. .. .. .. .. .. .. .. 1890. (page 13.) s. d. £ .. .. 29,362 2,802 15,885 58 10,692 1,263 65,565 .. .. .. 30,926 7 11 4,138 16 10 19,506 6 3 65 14 9,664 9 5 1,263 13 9 s. d. 14 - 60,066 8 2 1891. (page 21.) 2 - 17 10 13 7 14 8 18 9 - 10 1892. (page 29.) £ s. d. 33,868 5 1 17,056 13 3 2413 5 10,366 8 10 991 4 1 £ s. d. 33,137 18 3 2,463 5 23,853 14 10 5 9 10,716 2 1 748 6 8 64,805 11 70,929 15 2,498 6 9 5 10 7 This left a balance available for loans in£ s. d. 1889 of 93,499 1890 ,, 102,259 1891 ,, 101,705 1892 ,, 100,570 3 10 10 8 6 11 - 13 The expenditur&';upon loans in the four years was, in respect; of interest only, as follows :_____ _____ 1889. (page 5.) 1890. (page 13.) 1891. (page 21.) 1892. (page 29.) £ s. d. 59,408 10 3,342 10 - £ s. d. 59,366 13 6 3,342 10 - £ s. di. 59,692 18 2 3,342 10 - 16,791 16,776 London Central.. .. Leadenhall .. .. .. .. .. .. £ s. d. 59,160 8 4 3,342 10 - Metropolitan Cattle .. .. .. 16,791 Smithfield Hay. 1889 1890 1891 1892 - - 16,791 4,067 12,533 14,546 10,056 - - - - - - 9 8 11 5 2 6 8 - These amounts were applied to the general purposes of the Corporation. The amount of debt outstanding against the markets in 1892 was £2,509,000, the ultimate liability for which falls upon the general estates and funds of the Corporation (ai). The postponement of the repayment of this debt is a matter of considerable importance to the with separately. (a) finances of the Corporation and will be dealt In addition to this, there is a debt of £78,600 for the Metropolitan Cattle Market directly secured on the general revenues of the Corporation (see page xx). The interest of this is charged upon the market revenue, Xvii' 8. The Reserve Fund. There is next the Reserve Fund to consider in relation to the Revenues of the Corporation. This fund was created by order of the Common Council in 1857, and it is important to trace out its financial history as far as possible. The following is a synopsis from 1869 (1) of the Reveinues which have fed it from time to time and, (2) of the uses to which it has been put. In 1869 it began with a balance of .. .. £52,315 9 6 The receipts from 1869 to 1892 were : S Transfers from Improvements .. .. .. 425,914 128,959 .. 2,180 ,, ,, Markets.. ,, ,, Newgate Mark et Interest on City Bonds Interest on Securities .. .. . £ Sale of Bonds.. Sale of Stock .. s. .. s. 318,1 748 17 .. 575, 170 - 3 5 - - 557,053 14 18,030 3 51,373 16 8 1 4 d. 626,457 14 9 5 893,918 18 1 .. .. .. d. 9 5 npro---- 2 1,520,376 12 £1,572,692 1 3 9 The expenditure for the same period was : Transfer to Improvements .. Transfer to City's Cash .. .. Income Tax and other expenses.. Purchase of Bonds .. Purchase of Securities £ 330,643 572,498 .. .. .. £ s. d. 73,764 4 1 594,053 3 3 857 10 6 £ s. d. s. d. 668,674 17 10 1 1 8 6 -- 903,141 9 7 1571.8R16 Balance at end of 1892 .. .. 7 i 875 14 4 £1,572,692 1 9 It is not easy to see in what way this account at present operates as a reserve fund, as during the four years it has merely served the purpose of a transfer account acting on behalf of the Holborn Valley Improvement Account and the General Cash Account of the Corporation. The receipts in the four years have been as follows : £ s. d. City Bonds paid off .. .. .. 12,721 10 1 Transfer from Clerkenwell Improvement Fund 50,000 0 0 Interest on City Bonds .. .. .. 2,326 10 0 £65,048 0 1 Wherever the account has been used simply as a transfer, it is so dealt with in the analysis (see pages 12 and 20 where £7,000 and £25,000 are transferred direct to the Holborn Valley Improvement). The £9,000 transferred from Clerkenwell in 1889 (see page 5), and the £9,000 transferred in 1892 (see page 29) to the general estates and funds of the Corporation, are for nthe purpose of making good the deficiencies in income, and they are added to the Cash Balance with which the Corporation commenced the years 1890 and 1893 (see ante pages ii and iii). The interest on City Bonds is treated as belonging to ordinary revenue and is included in the item for " Interests on Securities." A report was presented to the Court of Common Council some time back (a) by Mr. Hicks, the Chairman of the Special Finance Committee, and some passages from this report have special reference to the Reserve Fund and the financial resources of the Corporation. They are as follows:"The result of the inquiry was that the assets of the City were "far mnore than sufficient to meet all the liabilities. The attention of (a) This was in 1F89. X1X " the Committee was particularly directed to what was called the Reserve " Fund, which originally consisted of a sum of half a million of money, " wisely accumulated by their predecessors to meet the loss occasioned " by the expiration of the Finsbury Estate leases. That fund, however, "had gradually decreased during the last 15 or 16 years, and the " Committee had ascertained that during that period £123,801 had been " expended by the Court, beyond annual income, upon productive invest" ments, such as the erection of police stations, artizans' dwellings, the " purchase of leasehold property and the like, which outlay was bringing in a " return in the shape of rent and otherwise. But a further sum in excess of " income had also been expended upon extraordinary objects, amounting to " £341,019, for which no pecuniary return was forthcoming. The larger " portion of the latter expenditure had been for objects of undoubted utility "to the citizens and the public at large, as would be apparent when he " specified the following objects as forming the material part of that outlay, " viz., the balance of the cost of erection of the Guildhall Library and " Museum, enlargement of the City of London Pauper Lunatic Asylum, " contribution in aid of public street improvements, supply of hydrants for " the City, erection of the new City of London School, the Temple Bar " Memorial, erection of the new Gresham Almshouses, erection of the new " Council Chamber, expenses at the Thames Outfall Inquiry, erection of " detached hospital for the Port of London at Gravesend, erection of the new " School of Music on the Thames Embankment, contribution in aid of " technical education, replica of Queen Anne's statue in St. Paul's Churchyard, " fitting up the new Art Gallery, sundry entertainments to or receptions of " Royal personages, also receptions of municipal, medical, colonial, and Indian " authorities; contributions to the Royal College of Music, the International " Fisheries and Health Exhibitions, the Imperial Institute, and the City of " London Guilds Institute. In face of such a list of deserving objects he " should not blame the Corporation for their expenditure of the money. " What they had done no public body in the world had done before. It was " impossible to mention an instance in which any public body had contributed "so largely out of their own private funds to objects of a beneficial " character. But the effect of such liberality had been to reduce their "reserve fund to £22,576, not calculating the remunerative investments, The "which would bring up the fund to something like £55,000. "Corporation were of opinion that, having provided and maintained at " its own expense hydrants for the City at a net cost of over £27,700, it was "only reasonable, as they were available for sanitary and cleansing purposes, "as well as for fires, that the cost of maintenance and repair should in future " be defrayed out of the consolidated rate, and they recommended that the "hydrants should be handed over to the Commissioners of Sewers. They "thought that the Corporation having originated the Guildhall School of " Music, and provided a house at a cost of £25,930, that it ought to be self" supporting in future, having reference to the gratifying success it had " attained as a teaching institution. Referring to the munificent provision " made by the Corporation for the City of London School, which had involved " them in an expenditure of £111,721, independent of the gift of the site, " which was valued at £184,705, the committee urged that the School " Committee should consider whether some steps should not be taken, either " by raising the scale of charges for pupils, or otherwise, so as to render the " school more nearly self-supporting, without lowering the character of the " education now afforded. The Committee also drew attention to the increas" ing cost of the Freemen's Orphan School, and recommended the utilisation " or disposal of vacant land and premises belonging to the Corporation." Suggestions made in this report deal with some subjects of importance, particularly (1) the power of the Corporation to transfer a charge from its own revenues to rate, e.g., in the case of hydrants; (2) the increase of pupils' fees at the School of Music and the City of London School. Both of these transactions act as a relief to the Corporation revenue from general estates and funds. (3026) D xx 9. Charges for Debt on General Estates. Cor- The loans chargeable upon the General Estates and Funds of the poration are of two classes, namely (a) Those charged directly upon the Corporation Estates. (b) Those first charged upon market rents and dues and then upon the Corporation Estates. This latter class differs in practice very slightly from the because the general market rents and dues are received and accounted for as a part of the City's cash ard are not set apart by themselves as a separate.estate or fund. For neither of these classes of loans was there any provision in respect of repayment out of the current revenue of the four years. The loans are as follows :-(a) The loans charged directly upon the Corporation in respect of Highgate Woods, Leadenhall Market Approach, Lunatic Asylum, and a portion of the Metropolitan Cattle Market debt. The loan for JHighgate Woods is £5,000 due in 1902. The yearly interest is The loan for the Leadenhall Market Approach is £148,800, and is now payable as follows : first, Pauper £150. 1893 25,000, and interest amounting to 5,074 .. 1894 189:) 1896 .. .. .. 10,000 43,800 .. 1902 1907 4,4199 30,0(0 15,C00,,,, 25,0009,,,, .. 3,149 2,623 ,,~ (6 years) 10,491 (5 years) 7,117 ,,,, ,,,, £148,800 £32,653 The loan for the Pauper Lunatic Asylum is £8,000, repayable in 1898. The yearly interest is £240. Tie loan for the Metropolitan Cattle Market was for the extension of lairs and slaughterhouses and the completion of the market. It amounted to £78,600, and is now payable as follows 1893 .. 1896 189 7 .. 11,000 and interest amounting to 2,699 6,000 2,600 .. 1898 1902 43,000 16,000 .. .. , (3 years) 6,940 2,103 11 ,, ,, 2,013 ,, (4 years) 2,080 £ 78,600 £15,835 The total debt chargeable directly upon the Corporation Estates was therefore £240,400, and the amount payable thereon for principal during the current year, 1893, would be £36,000, and for interest £8,163, together £44, 163. (b) The loans outstanding at the end of 1892 charged upon the Market 1896 .. 1898 1899 1901 1902 1906 1907 .. 307,000 .. , . 806,000 .. 13,000 .. .. ,.. .. .. 6,500 .. .. .. .. 202,300 196,500 54,600 £2,509,000 ,, ,, 68,578 ,,1,,t ,, ,, 42,730 ,15,521 . ,, ,, 11 ,, 30,138 ,, 13,172 (4 years) 51,844 , 6,386 ,,5,,t £523,162 xxi Although the rents and tolls of each market are primarily charged with the debt of the Market, there are provisions in the Acts allowing the surplus revenue of some markets to be applied to the repayment of debt on other markets. Thus the Billingsgate Market Act, 1871, enables the Corporation to apply, for purposes of the Act, any money raised or authorised to be raised by them under any other Act and not required for the purposes of that other Act or any part of their corporate funds or revenues [Sect 20]. The London Central Markets Act, 18875, enacts that the receipts are applicable (1) to payment of interiest (2) principal, and then shall be applicable as the revenues from Farringdon Market are now applicable [Sect. 36]. The Leadenhall Market Act, 1870, contains the same clause as the Billingsgate Market Act, 1871 [Sect. 34]; the receipts are applicable in like manner as the receipts from the old Market [Sect. 39] and the Extension Act of 1871 contains the same clauses. The Metropolitan Markets (Fish &c.) Act, 1882, makes the revenues applicable to debt and then as the revenues from other central markets are applicable [Sect. 6]. These clauses tend to make the debts of the markets run into each other, and it has further to be noted that the surplus revenue of the Deptford Market is applicable to the repayment of loan on the Metropolitan Cattle Market. The readiest method for the immediate purpose of this memorandum of ascertaining the effect of the outstanding debt of the markets upon the revenues of the Corporation is to deal with it as if it were one debt upon the total net revenues of the markets. I)uring the year 1892, arrangements were progressing for the sale of Farringdon Market. This was actually effected in 1893, the amount realized being £98,100. This amount is applicable to the repayment of debt, and out of it £85,000 was paid off in 1892 by means of a temporary loan, pending the sale. But there was borrowed during 1892, a further sum of £22,000 for the central markets. The net amount applicable from the sale to the redemption of debt, as it stood at the end of 1892, would therefore be £13,100. The amount of market incomes available for debt purposes is now reduced, in consequence of the sale of Farringdon Market, by about £600 per annum, and might be estimated at £100,000 for the general markets (see p. xvii), and £22,0!0 for Deptford Market (see p. xxxiii). On this basis, the following table gives the amounts due in respect of principal and interest of debt, and the income available to pay the same: Debt payable. Interest payable. Income available. Year. General Markets. Deptford Market. £ Balance .. - Deptford Market. £ £ £ - General Markets. - - General Markets £ Deptford Market £ 13,100 8,782 152,000 278,600 1895.. 1896. ... 1897.. 1898. ... 1899.. 1901. ... 1902. ... 1906 .. 19)J7.. .. .. .. .. .. 25,000 10,000 85,7383 80,463 2,660 1,785 100,000 100,000 22,000 22,000 61,000 307,000 431,500 806,000 13,000 54,600 6,500 202,300 196,500 3,000 20,000 18,000 - 70,712 68,578 57,832 42,730 15,524 30,138 13,172 51,844 6,386 1,435 1,330 630 100,000 22,000 22,000 22,000 22,000 22,000 2,509,000 1893. ... 1894. ... 76,000 523,162 7,840 - 100,000 - 100,000 100,000 100,000 200,000 - 100,000 - 40,000 - 130,000 22,000 88,000 22,000 1,513,100 338,782 - 44,000 The charge for debt may be estimated by applying the income available to the repayment of principal and interest as far as it will go, and allowing the unpaid principal and interest to accumulate at 3 per cent. until 1907, when the last City bonds are due. The debt thereby shown would be the (3026) D2 xxii The following table gives estimated contingent charge upon the City estates. the results Principal due on Interest due on bonds. bonds. £ due on re-borrowed accumulating after paying at 3 per cent. the reduction of debt. interest. debt. o interest. £ 1893 177,000 288,600 64,000 327,000 449,500 806,000 13,000 £ 88,443 1894 1895 1896 1897 1898 1899 82,248 72,147 69,908 58,462 42,730 15,524 1900 - Surpus income for Unpaid principal available for principal Interest £ - £ £ each year. £ 55,439 121,561 - 3,647 11,222 11,983 20,589 32,786 55,571 36,105 38,631 40,109 42,919 46,484 50,905 252,495 25,369 286,891 406,551 759,516 - 37,905 374,056 399,425 686,316 1,092,867 1,852,383 1,814,478 52,497 1,761,981 49,453 1,762,509 1,713,056 57,647 59,377 61,158 1,655.409 1,596,032 1,534,874 15,069 54,434 52,497 1901 1902 54,600 6,500 15,069 13,172 52,859 52,875 54,072 55,953 1903 1904 1905 - 12.961 12,961 12,961 51,392 49,662 47,881 57,647 59,377 61,158 202,300 196,500 12.961 6,386 46,046 50,225 62,993 65,389 139,307 131,111 2,585,000 531,002 541,172 779,708 2,123,329 1906 1907 Accumulation of debt - 528 - - 121,561 - 1,674,181 1,805,292 318,037 1,805,292 Thus, at the end of 1907 there will be, according to this estimate, a debt of £1,805,292 on the markets. At the estimated income of £122,000 per annum it will take about twenty years to repay this debt. The markets would not, therefore, be free from their present debt until 1927, and none of their revenues would be available for general purposes. In any calculations as to the financial effect of unification, revenues from markets as they are at present constituted must be left out of consideration, and because the Corporation have been applying market revenues to their general purposes, instead of paying off loans, the fact must not be disguised that market revenues are hypothecated for the next 34 years. Moreover, Burdett puts the value of market rents at 23 years' purchase, and although the calculations from 1907, when the accumulated debt first becomes unified, shows only 20 years necessary to pay off the debt, there is the consideration of the period between 1892 and 1907 to be taken count of, and this might make it doubtful whether the present debt can be paid out of the existing rents and dues. There is one point further which affects the value of market revenues as applicable to existing debt chargeable on those revenues, namely, that if applied to the extinction of existing debt, there is no provision for the next 34 years for any new capital expenditure upon the markets. This is a serious matter, as even during the four years under consideration the following capital expenditure has been incurred, and it is not reasonable to suppose that this can now cease for the next 34 years :- Central Markets. £ 1889 1890 .. .. .. .. .. 1891 1892 .. .. .. .. .. .. .. 12,998 19,248 s. d. 6 9(a) 9 11(b) 64,754 16 11(c) 19,799 17 1(d) 116,801 10 8 CaDeptfordket. £ s. d. 8,959 14 1,056 4 6(e) 7(e) - -(e) -(e) 5,256 500 15,771 19 1 or a total in the four years of £132,573 9s. 9d. (a) £5,998 6s. 9d. for new fish market, and £7,000 for works in poultry and provision section. (b) £13,090 1s. 7d. for new fruit and vegetable market, and £6,158 8s. 4d. for works in poultry and provision section. (c) £62,912 13s. 10d. for new fruit and vegetable market, and £1,842 3s. ld. for works in poultry and provision section. (d) £19,721 9s. 3d. for new fruit and vegetable market, and £78 7s. 10d. for works in poultry and provision section. (e) These amounts are for construction of chill rooms. xxiii 10. Trust and Statutory Funds. Certain of the accounts are not brought into the general funds of the Corporation, and these must now be dealt with. They consist of the several trust properties in the hands of the Corporation and the special funds applicable to specific purposes, in two' of which the Corporation have a beneficial interest, and in the remainder they act only as administrators. The effect upon the balances of these accounts, after charging upon the receipts the expenditure incidental to the services imposed by the trusts, was, in the four years, as follows : Date of Statute or Trust. Trust Estates. .. Bridge House Estates .. .. .. .. .. Coal Duty .. Coal Market .. £ -5 14 1 758 10 11 - - 6 7 15,917 13 - 21,091 18 2 10,999 11 1832 4 5 1 11 2,416 17 -1,079 9 3 6 -2,080 -381 6 2 -498 6 -158 18 2 2 2 18 16 2 8 11 6 6 3 87 6 6 848 11 2 823 8 6 -107,054 4 8 -4,430 4 11 190 5 2,349 7 805 18 -68,976 1 -10,089 19 6 4 6 3 8 -819 12 5 1,235 18 2 -2,071 -91,172 570 1850 1852 1863 1864 1869 .. .. 6 4 3 1 - 1872 .. .. Parks and Open Spaces 174 -356 6 796 4 1,434 3 -4,309 15 819 12 4 7 2 £ 5 410 -78,893 10 Grain Duty s. d. £ d. 2 14,811 18 1579 Clerkenwell Improvement .. .. City of London Court Blackfriars Bridge Estates .. Holborn Valley Improvement .. Deptford Cattle Market s. d. s. 9 s. d. £ .. Gresham Estates 1892. 1891. 1890. 1889. - -746 -1,453 805 66,019 2,056 4 1 7 3 136 12 10 515 14 6 9 -90,863 12 9 83,249 - -1,043 606 641 12 1 -62,894 11 - 1. THE GRESHAM ESTATES. The Gresham Estates are applicable to specific trusts, in accordance with the will of Sir Thomas Gresham, dated 1579, which divided the property equally between the Corporation and the Mercers Company. The charges upon the City's moiety are, first, the Royal Exchange, and secondly The receipts appear to provide for the current the Gresham College. expenditure, though in four years there is a slight excess of expenditure over receipts. This, however, includes a payment, in 1890, of £1,032 6s. 8d. for five years' income duty. The evidence before the Commissioners of 1854 went to prove that the Gresham Trust funds were not sufficient to meet the charges (Questions 7358-9), and that an improvident sale of the property devised by Sir Thomas Gresham had been made by the Corporation under an Act of Parliament in 1767. The expenditure and receipts in the four years were in detail as follows : 1889. £ Revenues:Rents received .. .. .. Expenditure :Bequests: Clothing of poor Almsmen and repairs to Almshouses .. Collection and Management, Salaries of Clerk of the Committee, Accountant, Junior Clerk, and Law Expenses .. .. .. Corporation Duty for Five years1886-90 .. .. .. .. Royal Exchange:Wages of Constables, Keepers, &c. .. Rates, Taxes, Repairs, &c. Interest and Repayment of Loan Erection of Statue to H.M. Queen Gresham College:Salaries of Lecturers, &c. .. Rates, Taxes, Repairs, &c. .. Investments .. .. .. .. Total .. .. Balances of Revenue (+) diture (-) .. .. .. .. or Expen.. .. 1890. s. d. 8,915 2 - 405 11 227 10 -2,07 - £ s. d. 9,908 £ s. d. 8 4 - 393 18 8 431 - 227 10 - 227 10 9h 2oprto -5d14e 1 9,364 15 8 78101 - 340 - 1,032 6 8 - - 340 - - 8 829 14 - 5,404 487 18 8,652 3 1 6,057 - 583 16 289 11 - - 10,986 11 8 9 - 2 - - ..- . . .. 556 16 476 16 - 9,914 9 4 - - 5 9 -5 14 1 - s. d. 9,660 19 J0 60 443 13 2 246 - 9 4 - - - - 340 - - 340 - 985 6 5 807 1 4 7 9 2,293 4 - 333 6 8 - - - 558 17 325 7 10 575 17 256 9 1 - 2 9 1 £ - 8,606 1+758 -2,071 1892. 1891. - - 4,091 16 5 4 9 9,054 10 4 + 606 6 10 11 - xxiv 2. THE BRIDGE HOTUSE ESTATES. The origin of the Bridge House Estates is curious. Mr. Brand, in 1854, stated to the Commissioners (Questions .5771 and 5772) that it was " created by ancient grants from the Crown, gifts from different individuals, and purchases of p)roperty arising from the saving of the revenues at different periods. On the first building of London Bridge, a sort of crusade was preached by Peter of Colechurch. He went about the country with a brief, and was enabled to collect funds towards the erection of the bridge. Sometimes money was given, and at other times land, tbr the purpose of building London Bridge; at other times grants have been made from the Crown, and purchases have been made out of the surplus rents and profits of the Bridge House Estates. Property also has been given by will. The result is a fund held in trust for the maintenance and support of London Bridge." The Bridge House Estates are charged with the maintenance of London, Southwark and Blackfriars Bridges, and the cost of building the Tower Bridge. Prior to the passing of the Blackfriars Bridge Act, 1863 (26 Vict., cap. 1xii.) the Bridge House Estates were held by the Corporation "in trust for the maintenance and support of London Bridge." By that Act, and the Blackfriars and Southwark Bridges Act, 1867 (30 Vict., cap. iii.), the Corporation were empowered to borrow £650,000 on the credit of these estates, for the purpose of re-building Blackfriars Bridge and purchasing Southwark Bridge from the Southwark Bridge Company, and the expenses of lighting, watching, and maintaining the two last-mentioned bridges were made a charge on these estates. By the Tower Bridge Act of 1885, the construction of the Tower Bridge was made a charge upon these estates. The balances accruing in the four years have amounted altogether to £62,821 1s ld., bringing up the total unapplied balance at the end of 1892 to £104,012 10s. 7d. Liabilities may accrue against this balance by compensations for damage to the property of wharfingers during the construction of the T'ower Bridge, but, except for this, expenditure out of these funds is limited to the purposes of the four above-named bridges. The details of the expenditure in the four years was -- as follows 1890. 1889. £ s. d. £ 1891. s. d. £ 1892. s. d. £ s. d. Revenue- Rents and Quit Rents .. .. Interest on Securities .. .. Contributions in respect of properties held by tenants.. .. Incidentals.. .. .. .. Total Receipts .. ... 88,594 4 2,046 16 1,334 20 8 9 89,706 12 10 1,931 7 6 91,773 19 1,935 12 7 - 92,264 18 1,935 12 6 - 6 2,706 7 7 17 3 100 - - 94,300 10 6 2 1 10,240 19 4,141 19 2 3 8 11 8 9 91,995 19 617 6 1 92,261 Zitureout o thesefundsi 4 - 4 10 96,423 15 10 lm ExpenditureManagement and Collect ion Rents, Quit Rents, Taxes, &c. Salaries of Bridge Masters Pensions .. .. .. .. .. .. .. .. Balances of Revenue in each Year 8,570 11 3,975 7 2 6 387 10 - 450 - - 450 - - 450 - - 1 213 2 - 243 12 - 217 12 6 - - 22 - - 16 10 - 22 10 11 4 - 61 6 2 13 52 10 4 - 61 6 12 13 52 10 4 - 22 6 7 13 4 119 12 10 61 6 7 13 52 10 61 1,370 15 1 1,399 6 8 2,061 2 6 5,670 12 8 2,613 12 1,053 14 5 9 1,243 1,:67 5 2 3 6 1,772 1,468 8 8 1 1,408 18 1,495 - 2 9 2,058 56,401 - 4 4 - 1 - 298 57,251 200 3 -- 5 - 260 10 56,397 6 - - 8 2 - - 57,161 16 2,365 - 5 - .. +7 14,81 77,184 18 - 6 11 - 10 75,331 17 2 8 83,300 19 2 .. +14,811 18 7 +21,091 18 2 +10,999 11 4 . Loan Interest and Repayment Investments .. .. .. Total Expenditure 10,475 12 3,172 10 332 14 Salary and Livery of High Steward of Borough of Soutli ark .. Jurors of Manors.. .. .. Ancient Customary Charges .. Surveying Bed of River .. .. London Bridge Maintenance Blackfriars Bridge Maintenance.. Southwark Bridge Maintenance .. Tower Bridge-Parliamentary and Legal 8,525 1 1 4,230 12 10 ( +,15,91713 76,343 + 5971 i XXV 3. THE COAL DUTY. A charter of James the First, dated the twentieth day of August, 1606, recites that the mayor and commonalty and citizens of the City of London had from time immemorial exercised the office of measurer of, amongst other things, all coals brought into the Port of London by the River Thames in any ship or vessel, or on every shore or wharf of the Thames, by deputies for the time being, and that the Corporation had received to their own use all profits belonging to the office of measurer, and confirmed all the fees and measurings aforesaid, and the profits belonging to them, and ihe uses and customs aforesaid, to the Corporation and their successors; and further granted to the Corporation and their successors the office of measurer of, amongst other things, all coals which might be brought into the Port of London on the Thames in any ship or vessel, or which might be brought into any shore or wharf of the Thames from Staines Bridge to a place called Yentleete, otherwise Yantleet, near the sea, together with the right to receive all profits belonging to the said office of measurer. By an Act of Parliament, 5 & 6 William and Mary, cap. 10, it was provided that for all coals or culm which should be imported into the Port of the City of London or the River Thames within the liberty of the said city, to be sold by the chaldron or ton, there should be paid by way of imposition thereupon the sum of fourpence per chaldron metage for ever over and above what was then lawfully paid for the metage thereof, and that over and above all other impositions and duties, and the said last-mentioned sum of fourpence for all coals or culm so imported, the further sum of sixpence for every chaldron, and for such coals as were sold by the ton the sum of sixpence per ton, which said imposition of sixpence should continue for a term of 50 years. By 10 Geo. IV. c. 136, it was enacted that the Corporation might improve the approaches to London Bridge, and that for the purpose of providing a fund for the purpose the duty of sixpence a chaldron or ton, imposed by the Act of William and Mary, should be continued until the 5th day of July, 1858. By various subsequent Acts the dues were continued, and under the London Coal and Wine Duties Continuance Acts, 1861, 1863, and 1868 (24 & 25 Vict. c. xlii., 26 & 27 Vict. c. xlvi., and 31 & 32 Vict. c. xvii.), the id. per ton on Corporation of London collected coal duties amounting to Police District, and a wine duty of 4s. all coals coming into the Metropolitan per tun on all wine imported by way of merchandise into the Port of London. The net proceeds of this wine duty, and of 9d. out of the is. id. per ton coal duties, were required, by Section 5 of the first of the above-mentioned Acts, to be paid by the Corporation to "The Thames Embankment and Metropolis Improvement Fund" at the Bank of England. The net proceeds of the remaining 4d. out of the ls. ld. per ton coal duties were applicable primarily to the payment of interest and principal in respect of moneys borrowed under the Holborn Valley Improvement Acts, 1864, 1867, and 1869 (27 and 28 Vict. c. lxi., 30 Vict. c. lv., and 32 & 33 Vict. c. xx.), and the Holborn Valley and Farringdon Market Improvement Act, 1872 (35 & 36 Vict. c. lxxxi.) By the Kew and other Bridges Acts, 1869 and 1874, provision was made for the freeing of certain bridges therein named, and for raising funds on the security of the coal duties. Finally, by 52 & 53 Vict. cap. 17, it was enacted that from and after the 5th day of July, 1889, the Lord Mayor of the City of London, and the mayor, commonalty, and citizens of the said city shall not at any time exercise any right of measuring or weighing coals or any other rights with respect to coals to which he or they is, are, or may be entitled by prescription or by any is. charters and Acts of Parliament, or otherwise; that the duty of fourpence per ton on coals, culm, and cinders continued to the Corporation by Section 2 of the Act of 1868 shall continue until the 5th day of July, 1890, but shall be applied by the said Corporation towards discharging the moneys borrowed and now remaining unpaid in respect of the completion of the Holborn Valley improvements; and that any surplus or sums that may remain after dis- xxvi charging the pecuniary obligations imposed by the Kew and other Bridges Act, 1869 and 1874, and any surplus accrued or accruing from the one penny per ton drawback allowance under the Coal Duties Act, 1851, shall be applied by the Corporation in discharging as far as may be the capital sum owing on the Holborn Viaduct improvement and approaches. At the end of 1891 there was a small balance in the hands of the Corporation, of which the final residue of £495 15s. 2d. was in 1892 transferred to the Holborn Valley Improvement Account. 4. COAL MARKET. The revenues from the Coal Market are not applicable to the general purposes of the Corporaticn. By Act 1 and 2 Will. IV., cap. lxxvi., and its continuing Acts 1 and 2 Vict., cap. ci., and 8 and 9 Vict., cap. 101, the duty of Id. per ton upon coals is applicable to certain specific purposes in connection with the Coal Market and its buildings, the "residue or overplus . shall be laid out or invested in the purchase of stock.. .. . . at interest in the names of the Chamberlain, Town Clerk, and Comptroller of the Chamber of the City of London for the time being, who shall from time to time lay out or invest the yearly dividends or interest . . . . until the yearly dividends and interest of all such stocks . . . . . shall be sufficient for the payment of the salaries, and other payments and allowances . . . . and for defraying the several other charges and expenses of carrying the same into execution; and, when and so soon as the same dividends and interest shall be fully sufficient for the purposes last-mentioned, then ever from thenceforth the said duty of one penny per ton of coals, cinders, and culm shall cease" (Sect. xxiv.) The deficit balance of 1890 was owing to a special expenditure of £1,500 for renovation of the Coal Exchange. The accounts in detail for the four years are as follows :1889. £ Revenue :Rents, &c., of Offices 1890. s. d. 2,302 £ 1891. s. d. - £ - 6 3 2,080 411 10 28 17 247 838 12 6 3 1 s. d. 2,083 442 12 9 - 1,656 18 4 852 7 8 1892. 2 2 £ s. d. 2,069 12 8 Expenditure Salaries .. .. .. .. Clothing for Beadles.. .. .. .. .. .. Gas, Coals, Rates, Taxes, &c. .. Police Services . .. 95 - - . .. .. .. 111 4 6 Repairs, &c. .. .. Printing, Stationery, &c . Committee's Expenses - Total Expenditure .. 1,732 Balances (a) .. 570 .. - 4 - 125 - - 6 55 19 11 101 2 3 - 22 7 1 16 18 2 103 11 - 117 10 - 506 10 26 1 6 566 3 10 886 15 1 - 95 - 481 10 26 1 6 860 13 900 1 10 - 4 3,159 9 6 2,464 3 4 2,228 10 10 1 11 -1,079 9 6 -381 1 2 -158 18 5. CLERKENWELL 2 IMPROVEMENT. The Clerkenwell Improvement was carried out under Acts 13 and 14 Vict. cap. 103 and 14 and 15 Vict. cap. 120. It is now finished, and the Corporation have only to deal with the surplus lands. The accounts showed a considerable surplus in each of the four years, namely : £ In 1889 In 1890 In 1891 .. .. In 1892 .. .. .. .. .. .. .. .. .. .. s. 9,174 6,253 17 25,087 6 9,190 £49,705 5 d. 6 4 6 6 9 10 The Corporation transferred from this account to their reserve fund £9,000 in 1889, £7,000 in 1890, £25,000 in 1891, and £9,000 in 1892, and hence the balances shown in the analysis. The 1890 and 1891 amounts were again (a) In 1889 the Coal Market began with a balance of £3,923 11s. ld., out of which the deficiencies of the three last years have been met, leaving a balance of £2,874 4s. 2d. at the end of 1892. xxvii transferred from the Reserve Fund to the Holborn Valley Improvement Fund, and the transaction is therefore, in effect, a transfer from the Clerkenwell Improvement to the Holborn Valley Improvement, and it is so treated in the analysis. The sources of revenue from the Clerkenwell improvement are (1) Rents and (2) Sale of Premises. In the four years these items have amounted to:-Sale of premises and land. Rents. £ 1889., 1890.. 1891.. 1892.. .. .. .. .. .. . .. .. sd. £ s.d. 2 2 6 8,277 5,750 24,750 1 - 7 - 8,775 - - 2,209 19 10 .. 913 8 520 15 347 428 16 47,552 1 7 The surplus lands of this improvement were apparently exhausted by the sale of 1892, as the Corporation do not take credit for any remaining assets on this account. There are, however, the rents which may be converted into a capital asset. 6. THE CITY OF LONDON COURT. The balances of the City of London Court include an extra payment in 1889 of £3,897 9s. 5d., part cost of erecting the New Court. Though, as a matter of account, these balances are kept distinct from the General Estates and Funds of the Corporation, investments made from the surplus revenue of the Court are applied to the general purposes of the Corporation. The investments amounted at the end of 1892 to £50,685 8s. (d. (page 143 of Accounts). 7. BLACKFRIARS BRIDGE. The Blackfriars. Bridge Estate is derived from the surplus property purchased under Acts 26 and 27 Vict., cap. lxii., and 30 Vict., cap. iii., for the rebuilding of the bridge. It is only now charged with certain taxes, and balances have accrued in the four years to the extent of £3,231 9s. 9d. This money is not applicable to the general purposes of the Corporation, and the total unapplied balance standing to the credit of this estate at the end of 1892 was £5,900 12s. ld. 8. HOLBORN VALLEY IMPROVEMENTS. The Holborn Valley Improvements were carried out by the Corporation under 27 and 28 Vict., cap. clxi. (1864); 30 Vict., cap. clv. (1867); 32 and 33 Vict., cap. xx. (1869), and 35 and 36 Vict., cap. lxxxi. (1872), and the proceeds of the City's 4d. duty on coal were primarily applicable to the repayment of interest and principal. By Act 52 and 53 Vict., cap. xvii., the Corporation were further empowered to apply the surplus funds remaining in their hands from the Coal and Wine Duties, to the Holborn Valley Improvement. The total amounts transferred in the four years were :For Principal. £ 1889 .. .. 1890 1891 .. .. .. .. 1892 .. .. s. 164,342 11 d. £ s. d. 6 29,554 10 - 4 - 3 - 16,687 - 5 - - 495 15 2 - - - 84,608 - 249,446 10 11 (3026) For Interest. E 46,241 15 -. xxvii The whole of these transfers was not applied to debt in the year, but £193,897 Is. 6d. in 1889, £81,687 5s. in 1890, the balance being invested as a sinking fund in 1891; in 1892 bonds to the extent of £100,300 19s. 2d. were paid off out of this account. Beyond these transfers from the Coal and Wine Duties, the Corporation transferred from their General Estates the sum of £32,497 12s. 4d., which had been received in the year 1889, as "repayment of loan and interest from Kew and other Bridges Joint Committee" (page 80 of Accounts). This being a transaction outside the Revenues of the year, it does not appear in the analysis of Revenue Accounts. The balances produced by the transactions of the four years were there fore entirely outside the General Funds of the Corporation. 9. DEPTFORD CATTLE MARKET. The Deptford Cattle Market is now paying off its debt out of the surplus revenues according to the provision of Act 32 and 33 Vict., cap. 70, Sect. 23. By Section 29 of this Act it is provided that if this Market were not established before 1st January, 1872, the Mayor, Aldermen, and Corporation of the City should not be the Local Authority and removes disabilities from any other Local Authority (in this case the Metropolitan Board), from erecting such a Market. The City Corporation erected the Market, and the application of its revenues, derived from charges made under the Act, is therefore governed by Sections 27 and 28 of the Act. Section 27 makes the revenue applicable "to the payment of interest on money borrowed for the purposes of this part of the Act, and in repayment of the principal thereof and subject thereto towards discharge of expenses incurred by them in the execution of this Act." And Section 28 provides that the Corporation may apply surplus revenue in repayment of the principal of money borrowed under the Metropolitan Markets Acts 1857 and 1865. Surplus revenue is therefore applicable to other market debt of the Corporation, but it is not used for that purpose at this date because of the mortgage upon it for its own debt. The balances of the four years were as follows £ s. d. 1889 .. .. .. .. - 4,309 15 - 1890 1891 1892 .. .. .. .. 2,056 .. .. .. .. .. .. .. .. + - 4,430 10,089 2 4 19 11 8 16,773 17 4 or a net deficit of .. £- 1 But this was met by a reduction of the accrued balances from £25,556 5s. 3d. in 1889 to £8,782 7s. lid. in 1892. This reduced balance will, with the new receipts, probably suffice to meet the payment of .debt due in 1893, and after that date there will probably be accruing a surplus revenue available after 1897 for the debt of the Metropolitan Cattle Market. 10. THE GRAIN DUTY. The Grain Duty is - of a penny per cwt. in respect of all grain brought into the Port of London for sale, and is levied under the Metage of Grain (Port of London) Act 1872, 35 and 36 Vict., cap. c. It is charged under that Act with the preservation and maintenance of open spaces in the neighbourhood of London, but not within the Metropolis. The details of the four years' accounts are as follows : X1Xix 1889. Revenue:- £ Amount of Duty received .. .. 1890. s. .d. 18,127 16 £ 1891. s. d. £ 1892. s. d. 7 18,633 13 4 2,236 8 8 130 9 10 417 12 6 2,199 2 155 8 409 15 8 7 2,203 5 4 130 10 5 415 16 8 47 11 3 3 75 15 6 15,864 3 - s. d. 18,095 19 £ 1 2,184 7 158 19 373 15 2 4 9 Expenditure:Salaries of Receiver, Inspectors, &c. Repairs, &c. .... .. Rent, Rates, Taxes, &c. . . .. Printing, Stationery, &c .. Committee's Expenses .. .. Pensions .... Parks and Open Spaces:Loans-Interest .. . Investment for Sinking Fund Various Open Spaces .. Epping Forest . .. .. . St. Paul's Churchyard (a) Burnham Beeches..... Coulsdon and other Commons . .. Total Expenditure .. .. Balances .. .. .. 6 65 128 5 6 - 1,813 4 - 1,674 16 8,015 - - 8,015 - - - - - - 3,700 320 13 413 1 121 5 9 - - 3,700 1 8 253 12 233 5 95 - 1,484 18 6 8,015 - 7,752 10 - 6 6 9 7 - 75 3,600 - - 9 5 - - - - - 32 19 10 - - 7 7 4 6 328 13 7 3,600 305 7 5 24113 - 581 301 169 16 6 4 2 19,453 5 9 16,907 10 3 16,860 +819 12 5 -819 12 5 -1,043 3 +1,235 18 11. PARKS AND - 1,674 16 11 1 11 - - 6 61 - - 2,530 85 17 5 17,308 - 7 - 11 2 OPEN SPACES. The balances in respect of Parks and Open Spaces, which are not applicable to the general purposes of the Corporation, are derived from Epping Forest account and Wards' People's Recreation Ground (Queen's Park), Kilburn. Both these accounts are small, but they are trust accounts, and, though they are fed by contributions from the City's general funds, they are not a part of the City's estate. The Epping Forest account was created by Act of 41 and 42 Vict. cap. ccxiii. The Ward's People's Recreation Ground was an investment of £20,085 3s. 9d. of 24 Consolidated Stock, but the income from this does not suffice for the expenditure. SUMMARY. Summarizing the results of these facts it would appear that (1) the funds of the City of London Court are applicable to the general purposes of the Corporation, though in a less direct manner than other funds; (2) that the Clerkenwell Improvement and Holborn Valley Improvement Accounts are the final stages of those accounts after completion of the improvements; and (3) that there is a surplus fund accruing in the hands of the Corporation from the Bridge House Estates, and Blackfriars Bridge Estates, which, though at present not applicable to purposes outside those set forth by the trusts, or by Act of Parliament, will need to be dealt with as they increase in amount. The Trust Funds now in the hands of the Corporation are therefore practically limited to seven in numberThe Corporation having a beneficial interest interest in- (1) The City of London Court, total investments £50,685. (2) The Deptford Cattle Market, no investments. The Corporation acting as trustees only in(3) (4) (5) (6) (7) Gresham Estates. Bridge House Estates. Blackfriars Bridge Estates. Grain Duty. Coal Market. (a) This expenditure is incurred under the City Open Spades Act of i878, (8026) E2 XXX 11. Charges for Debt on Trust and Statutory Funds. The actual expenditure of the year, out of Trust and Statutory Funds does not touch the influence which these special funds have They are charged with upon the general funds of the Corporation. which debt the general estates an outstanding debt for certain purposes, for and funds of the Corporation are made collateral security. It becomes an important question, therefore, as to the present position of the debt charged upon each of the trust or statutory estates and funds, in order to estimate the contingent liability of the City's general estates and funds. It is necessary to bear in mind the special system of repayment which has been adopted by the City. This is not, except in one or two cases, accomplished by annual instalments, but by amounts provided by sinking funds, special funds hypothecated to the purpose, or out of surplus revenues. This method causes an unequal distribution of expenditure in each year according to the funds in hand applicable for the purpose. The payments for principal and interest of debt for the four years under consideration, amounted to the following sums, according to the service for which the debt was incurred : 1889. 1890. Repayment. Holborn Valley Improvement .. .. Interest. Repayment. Interest. £ s. d. 155,471 10 - £ s. d. 29,554 10 -- £ s. d. 67,782 19 8 £ s. d. 23,836 - - 35,252 - - 22,783 - -34,468 8,015 - - 2,719 7 1 3,00 - - 1 9 94,165 19 25,000 - 8 - 68,839 4,742 10 - 5 10 119,165 19 8 73,581 10 - .. .. Parks and Open Spaces .. .. - Royal Exchange .. .. 6,000 - - .. .. 183,502 25,000 - - 75,540 17 5,361 8 208,502 - - 80,902 Tower Bridge .. Deptford Cattle Market 22,030 10 - 8,015 1891. Repayment. - 2,520 - 1892. Interest. Repayment. Interest. HIolborn Valley Improvement Tower Bridge .. .. .. Parks and Open Spaces Royal Exchange .. .. .. .. .. £ s. d. £ 8. d. £ s. d. £ 55,363 8 5 21,559 5 - 100,300 19 2 20,273 23,581 - - 33,657 15 - 24,403 10 - 33,598 -8,015 - - 15,000 - 7,752 2,404 10 4,091 16 5(a) 2,352 3,060 - - Deptford Cattle Market .. .. 82,004 25,000 8 - 5 - 65,636 10 3,943 17 - 143,796 6 25,000 5 - 107,004 8 5 69,580 7 6 168,796 5 .. s.d. 5 10 - 6 - 7 - 63,975 15 3,097 10 6 - 7 67,073 6 - 5 (a) The payments in respect of Holborn Valley Improvement Loans were provided for by the Coal and Wine Dues, and to a small extent by the Reserve Fund of the Corporation (ante p. xviii). The whole sums transferred were not actually used for the repaymlent of debt in the years, the balance being invested as sinking fund. This explains the difference between the amounts entered in the analysis as paid over to the Improvement Fund, and the actual expenditure by the Improvement Fund on account of debt. At the end of 1892 there was still a debt outstanding and due as follows:(a) This is an investment, and is taken as for a sinking fund. xxxi 1893 1894 1895 1897 1898 1901 1902 £ . 36,400 S 3,000 S83,500 S107,000 S42,400 . 99,600 S110,300 .. .. .. . .. .. .. and interest amounting to .. ,, ,, .. ,, ,, .. ,, ,, 2 years) ,, ,, .. years) ,(3 .. ,, ,, £482,200 £ 16,877 15,604 15,498 25,152 8,831 22,038 3,861 £107,861 . j . ~ A VV 7 This charge is held against the Holborn Valley Estates, and collaterally against the general estates of the Corporation. The Holborn Valley Estates showed the following capital sums in hand to meet debt:£ Cash Improvement Fund Account (page 209 of Accounts).. .. Investments made during 1891 (page 207 of Accounts) .. .. Property sold during 1891 and 1892, and available for redemption of debt (pages 172 and 177 of Accounts) .. .. .. Balance of Coal Duty applicable to this debt (page 207 of Accounts) 8. 10,675 15 81,000 - 3,250 d. 3 ,.,, - -(a) 495 15 2(b) £95,421 10 5 This will all be absorbed by 1895. There then remain the rents of property in hand which amounted to £3,000 5s. 9d. in the year 1892. The loan charge on this account might be estimated by first applying the sinking fund to the redemption of capital as far as it will serve the purpose, and the rents to the payment of interest as far as they will go, and then allowing the unpaid amounts due on principal and on interest to accumulate at 3 per cent. interest until 1902, when the last of the City Bonds are due. The debt shown by this plan would represent the contingent charge upon the City estates at that date, taking credit for the sale of the rents. The following table gives the result :Principal rincip due. Amount npa available for principal Interest due. principal, re-borrowed at 3 per cent. £ 1893 1894 1895 1896 1897 1898 ., .. .. .. .. .. £ 36,400 3,000 83,500 107,000 42,400 36,400 3,000 56,021 - £ 27,479 107,000 42,400 Amount Unpaidinterest Accumulation available borrowed at 3 of debt each for interest, per cent. year. £ £ £ £ 16,877 15,604 15,498 12,576 12,576 8,831 4,771 4,681 3,000 3,000 3,000 3,000 12,106 11,286 13,200 11,498 11,843 11,663 12,106 23,392 64,071 75,569 194,412 248,475 1899 .. - - - 7,346 3,000 11,800 260,275 1900 .. 1901 .. 1902 .. 99,600 110,300 - 99,600 110,300 7,346 7,346 3,861 3,000 3,000 3,000 12,154 12,519 12,397 272,429 384,548 507,245 £386,779 £107,861 £33,452 £120,466 £507,245 £482,200 £95,421 In 1902 there would be, according to this table, a debt of £507,245 to meet. Against this will be the value of the rent-producing property of £3,000. These rents were, in 1892, £2,225 19s. 3d. in respect of surplus lands and £774 6s. 6d. in respect of Viaduct Buildings. Reckoning the first at 28 years' purchase and the latter at 20 years' purchase, they would be worth £77,813 9s., thus leaving a net deficit of £429,432 to be met out of the sale of any surplus lands of this improvement at present not producing rent. (b) The loan for the Tower Bridge is charged against the Bridge House Estates, the surplus revenues of which are sufficient to meet the interest and principal involved. (See page xxiv.) (a) previous (b) accounts This amount remains in the cash balance of the Improvement Fund, but may be transfeirred, as in years, to the Loans Discharge Account. This is entered in the balance sheet of the Corporation (page 143 of Accounts) as £498 6s. 2d., but the show it as £495 15s. 2d. xxxii (c) The loans for Parks and Open Spaces are charged against the Grain Duty to the amount of £214,000, payable in1893 .. 50,000 and 1894 .. 20,000 ,, ,, 1896 .. 45,000 ,, , 1897 1898 .. .. 50,000 49,000 ,, ,, ., ., ,, ,, 3,465 1,715 £214,000 ,, ,, ,, £28,490 interest to amounting 7,490 5,740 ,, (2years) 10,080 Against this debt the Corporation have provided a sinking fund of £8,743 9s. 8d., invested in Consolidated Stock, and a cash balance available for investment of £382 is. 7d. Deducting the discount on investment the total sinkng fund is £8,849 11s. 6d.(a) The Grain Duty is applicable to this debt until 1902, when it ceases. In the four years the net yield was (See ante p. xxviii.) £ 1889 1890 1891 1892 (page 2) (page 10) (page 18) (page 27) .. .. .. .. .. .. .. .. .. .. .. .. 15,167 15,804 12,405 14,684 s. 8 3 5 4 d. 7 10 1 11 and the charges, exclusive of loans, were:£ s. d. . .. .. .. 6,966 6 2 .. .. .. .. .. 6,711 19 4 1891 .. .. .. .. .. 6,067 2 4 1892 .. .. .. .. .. 6,329 6 9 1889 .. 1890 .. The balance available for loan purposes might, therefore, be taken at £8,000 per annum. The charge for debt may be estimated by first applying the sinking fund to the payment of debt as far as it will go, and the £8,000 per annum to interest, and then allowing any unpaid principal and interest to accumulate at 3 per cent. until 1902, when the income from grain duty ceases. The debt thereby shown would be the estimated contingent charge upon the City estates. The following table gives the result. Unpaid Receipts avail- Receiptsavail- principal and AccummulaPrincipal and able to meet able to meet interest re- tion of debt borrowed at each year. interest, interest due. principal. 3 per cent. 1893 1894 1895 1896 1897 1898 1899 1900 1901 .. .. .. .. .. .. .. .. .. £ 57,490 25,740 5,040 50,040 53,465 50,715 5,940 5,878 5,814 1902 .. 5,749 - £ 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 £ 40,640 18,959 -1,172 43,793 48,532 47,237 -2,060 -2,122 -2,186 £ 40,640 59,599 58,427 102,220 150,752 197,989 195,929 193,807 191,621 -- 8,000 -2,251 189,370 £ 8,850 - In 1902 there would be, according to this table, a debt of £189,370, which owing to the ceasing of the Grain Duty, would fall upon the General Estates of the Corporation. (d) The Royal Exchange Loan is charged against the Gresham Estate, the revenues of which appear to be sufficient for the purpose. (See p. xxiii.) (a) The amounts invested are detailed on page v ante, namely, £5,412 1s. 3d. from general estates, £530 6s. 9d. from interest, and £2,530 6s. lid. from the Grain Duty. This makes a total of £8,472 14s. 11d. or, deducting £5 5s. Od. costs, £8,467 9s. lld., as in the balance sheet (p. 143 of Accounts). xxxiii (e) The loans for the Deptford Cattle Market are charged against the rents and dues of the market. The debt outstanding at the end of 1892 was due as follows :1893 1891 1895 S1896 1897 £ 2,660 1,785 1,435 1,330 630 £ lt dt ,,1 25,000 bllki~, interest amounting .. to and 10,000 3,000 20,000 18,000 £7,840 £76,000 The sum of £25,000 was paid in each of the four years for repayment of principal, and allowing for this in the balances shown in the analysis, the revenue applicable to the repayment of loan was in 1889 1890 1891 1892 (page (page (page (page 5) 13) 21) 29) .. .. .. . .. .. .. .. .. .. .. .. £ s. d. 20,690 5 27,056 2 3 20,569 15 1 14,910 - 4 As there was left in 1892 a cash balance of £8,782 7s. 11d., (page 113 of Accounts) there seems enough margin to repay the debt due. It should, however, be noted that the proceeds of the market seem to be decreasing. Thus in £ 55,575 62,602 57,985 51,90 1889 they were 1890 1891 1892 s. 17 2 d. 9 6 14 8 15 4 As expenditure does not proportionally decrease, it is possible that the whole of the loan chargeable upon this market may not be completely paid off in the years in which instalments fall due. Summarising these facts there will be a charge falling upon the general estates of the Corporation in respect of the Holborn Valley Improvement Debt and of the Parks and Open Spaces Debt. (f) Subject to questions of surplus lands on the Hiolborn Improvement and the uncertainty as to the yield of the Grain Duty, the following figures would represent the estimated contingent charge upon the City's estate in respect of services not directly charged upon the estates:Holborn Valley .. Parks and Open Spaces .. .. .. .. .. .. £ 429,432 189,370 £618,802 xxxiv 12. Estimate of Total Debt falling on General Estates. An estimate of the financial position of the Corporation with reference to the debt chargeable upon its general estates and revenues may now be attempted. Assuming that the market debt is met by market revenue (see ante p. xxviii), the debt falling upon the general estates has been estimated in previous pages of this memorandum to be as follows £ Holborn Valley Improvement (ante p. xxxi) Parks and Open Spaces (ante p. xxxii) .. Metropolitan Cattle Market (ante p. xx) .. Highgate Woods (ante p. xx) .. Leadenhall Market Approach (ante p. xx).. Pauper Lunatic Asylum (ante p. xx) .. .. .. .. .. .. .. .. .. .. .. 429,432 189,370 78,600 5,000 148,800 8,000 .. .. £859,202 As this debt cannot be met out of revenues within the periods at which it falls due, it might be replaced by a loan at 3 per cent. interest for 30 years. The annuity to repay this loan would then be the equivalent annual charge for interest and repayment. The Holborn Valley loan was borrowed in 1864-9; the Cattle Market loans were borrowed in 1852-5 and in 1873-6; the Parks' loans were borrowed in 1876-85 ; the Highgate Wood loan was borrowed in 1888 ; the Leadenhall Market Approach loans in 1882-86; and the Lunatic Asylum loan in 1888. Thirty years would therefore be a fair average period over which to extend these loans. The annuity for 30 years would amount to £43,836, but if a longer period, say 50 years, were taken, the annuity would be £33,393 (a). The effect of this charge upon the revenues of the Corporation may be estimated upon the four years' figures as follows: 1880. s. d. £ 156,557 17 8 1,436 - 3 s. d. £ 175,994 7 1 1,040 17 5 s. £ 159,822 8 1,415 6 d. 5 4 s. d. £ 163,436 17 1,212 17 9 155,121 17 Net Revenue from Estates and Funds .. .. (exclusive of Markets) Minus Balances made good out of 1890. 1891. 192. 174,953 9 8 158,407 2 1 162,223 19 3 19 19 16 13 1 1 5 4 19,687 2 9,818 4 6,005 14 46,276 18 4 1 6 17,212 7,659 16 4,345 1 50,959 6 1 2 1 2 -- the General Estates. 5 Charges borne on net RevenueHolborn Valley Leadenhall Market Permanent Works Justice and Police .. .. .. .. .. .. .. .. Administrative Purposes .. Mayoralty and Civic Purposes Optional Purposes Investments.. .. .. .. .. .. .. .. .. 9,076 13 6,273 9 40,276 10 6 - 20,062 6,588 15,326 48,083 .. .. 44,686 6 29,989 17 3 5 49,250 29,381 4 3 2 11 50,934 13 6 34,492 12 11 47,530 41,133 5 2 8 7 .. .. 28,844 13 10 - - 27,107 12,982 7 10 4 4 31,603 6 9,166 12 2 8 25,419 - 8 - 7 - 7 159,147 10 7 208,783 7 3 207,985 4 2 194,250 - 4 .. .. Balance carried down DeductLoan Charges included in the above for which the New Charge for .. Debt will be substituted .. Special Expenditure not of annual .. recurrence (ante p. vi.) .. -4,025 13 2 -33,829 17 7 -49,578 2 1 -32,026 1 1 5,712 - - 37,533 9 6 32,907 12 11 22,807 15 1 16,790 7 6 21,425 16 5 13,498 12 9 12,957 17 10 Revenue available for Debt Charges .. 18,476 14 4 25,129 8 4 -3,171 16 - - 43,836 - - 43,836 18,706 11 8 Estimated Debt Charges deducted .. Deficit in Annual Income after allowing for payment of Debt .. 43,836 5 - - 47,007 16 5 3,739 11 10 43,836 - - - - 25,359 5 8 40,096 8 2 The variations of each year are caused by differences in receipts and expenditure, but an average of the four years would represent as nearly as (a) This is simply the annuity to meet an estimated present debt of £859,202. The different dates at which the several loans are payable are not taken into account, because if the estimate is made upon minute details as to the present value of the estimated debt other considerations which were not thonght necessary to bring into the estimate must be taken count of. It may be stated, however, that the three principal of these considerations are:(1) a loan to replace the exceptional items removed from annual expenditure (see p. vi.); (2) provision for capital xxxv possible the normal deficit in city funds, if debt was provided for by loans spread over the next 30 years at 3 per cent. interest. This deficit would be £32,792 10s. 6d. The importance of this result cannot be over estimated. It is without taking count of the contingent charge likely to fall upon the general estates for market loans; but on the other hand it does not take count of any possible Corporation assets not disclosed by the accounts. The asset from the Clerkenwell Improvement Fund was exhausted in 1892, and it would seem that there are no other assets which produce revenue applicable to the general purposes of the Corporation. It is to be noted, however, that the rents have been steadily increasing during the last 20 years. In 1869 the amount received for rents was £75,170 17s. 9d. ; in 1875 it had reached £100,483 19s. Od.; in 1880 it was £115,251 8s. 6d.; in 1885, £136,195 Os. lid., and in 1890, £160,820 6s. 4d. In 1891 it fell to £156,492 17s. Od., but in 1892 it was £163,465 12s. Od., and it is probable that the rise in rents may go on. expenditure on the markets (see p. xxii.) ; and (3) the repayment of the Metropolitan Cattle Market loan within the period now arranged for-namely, 10 years, instead of extending this loan to 30 years, because it being for market purposes and borrowed so far back as 1852-5 and 1873-6, it has already extended far beyond its proper limits. The calculations on the present value of the estimated debt work cut the annuity at £35,974; or together with the first and third of the above-named additional items the annuity would be £44,453 for the first ten years and £35,043 for the last 20 years, instead of £43,836, the amount used as the estimate for the entire 30 years. To the £35,043 would also have to be added the expenses of maintenance of Parks and Open Spaces, which would fall on the General Estates after 1902, amounting to £4,900. As these several adjustments make the yearly figure nearly the same as the £43,836, and as it is difficult to estimate the non-productive capital expenditure which may be required for markets during the next 30 years, it was thought best to leave the estimate for loans falling upon the General Estates at the annuity necessary to meet an estimated present debt of £859,202. (3026) F xxxvi 13. Classification of Annual Expenditure. The receipts and expenditure in respect of the general estates having been considered with reference to the financial position of the Corporation, the expenditure of the Corporation fbr all purposes both on their own estates and on their trust property may now be classified into its constituent parts in order to bring out the incidence of the total current expenditure of the Corporation as a portion of the municipal expenditure of London. There are five classes into which the total expenditure of the Corporation may be divided, each class having reference to the revenues which are used to meet the expenditure. They are : 1889. £ s. 1891. 1890. s. d. £ 1892. d. £ s. d. £ s. - 1 117,148 d. 492,600 11 8 121,759 6 3 72,139 5,208 - - 37,143 9 6 32,517 12 11 215,848 3 9 212,684 10 7 218,552 12 10 68,513 1 7 69,411 19 7 68,855 19 11 233,158 14 - 239,485 1 11 252,151 - 2 252,655 - 4 1,015,328 11 - 680,484 7 10 644,216 5 11 691,309 7 4 44,851 18 2 40,484 6 3 33,269 1 - 31,561 4 3 720,968 14 1 677,485 6 11 722,870 11 7 (a) Exceptional expenditure (1) payment of loans out of accrued balances or out of special funds provided forthe purpose ; (2) payments for special purposes not of. an annual recurrence, amounting to .. .. .. .. .. (b) Expenditure on account of undertakings, the debt of which is charged upon the general estates (c) Expenditure by remunerative undertakings amounting to .. (d) Expenditure met by its own earnings amounting to.. .. .. (e) Expenditure falling upon the revenues and properties of the Corporation as ordinary annual expenditure amounting to .. Add-Cost of Collection and management of Estates and Funds .. Total expenditure(seepp.36-37) 1,060,180 9 2 8 1 22,417 15 1 224,390 9 7 74,697 14 3 (a) The exceptional expenditure was as [follows :1889. £ s. 1890. d. £ s. 1891. d. £ s. 1892. d. £ s. (1) Payments out of accrued balances or special fundsKew and other Bridges .. 238,275 8 11 Holborn Valley Improvement (Coal and Wine Duties) .. Holborn Valley Improvement .. - - 193,897 1 6 81,687 5 - .. 43,621 4 6 16,099 - Clerkenwelt Improvement .. Grain Duty Sinking Fund out of 16 9 3 (Estate) .. Grain Duty .. .. .. .. - (2) Payments out of General Estates and Funds for special purposes not of an annual recurrence-details (ante p. vi.) .. .. .. .. .. 16,790 492,600 11 (b) is given (c) and the 16 17 10 2,530 7 6 8 1 6 11 21,425 16 121,759 6 - 495 15 2 - 58,630 13 10 9 13 d. 6 - 103,681 4 1 13 11 - - 5 13,498 12 9 3 72,139 - 1 12,957 17 10 117,148 8 1 The expenditure on account of undertakings charged upon the estates on page vii. Expenditure by remunerative undertakings is that of the Markets, details are given on pages 5, 13, 21, and 29. (d) That portion of the expenditure which is met by its own earnings, consists of that portion of the total expenditure which is met by fees, fines, and receipts of a like nature. This portion of the expenditure was as follows :- xxxvii i 1889. 1890. Dwellings for the Poor.. Parks and Open Spaces Justice and Policc . Weights and Measures.. Petroleum . . Lunatics .. .. . Port of London.. g £ 8. d. 2, 584 6 6 1, 522 16 11 23,948 9 3 194 2 6 . .. 455 26 164 716 38,899 . Establishment.. . ,. Library, Museum, and Monument Schools .. . . 6 16 - 10 8 2 17 6 14 9 £ 2,849 1,969 23,552 158 1 564 178 206 1,149 38,782 111 68,513 1 7 1892. 1891. i i I~l 1~ r1 d. 5 9 5 11 8 11 13 4 59 4 4 6 9 14 2 £ 8. d. 4 2 8. 1,892 1,670 22,383 567 2 410 188 199 895 40,645 4 17 18 9 5 5 £ 8. 2,225 17 1,949 5 22;044 16 d. 6 3 3 35 - 14 6 17 10 12 6 1 2 3.80 57 210. 1,636 46,189 2 19 3 11 13 10 4 9 4 I 1 68,855 19 11 7 69,411 19 74,697 14 3 (e) The expenditure falling upon the revenues and properties inthe hands of the Corporation for ordinary purposes can now be stated. It was as follows : 1889. Bridges .. .. .. .. Leadenhall Market Approach.. Parks and Open Spaces .. Royal Exchange .. .. Gresham College Mayor's Court Criminal .. Juqstice.. £ 8. d. 63,617 3 2 1,203 6 1 14,239 9 9,480 1 9 .. .. .. .. .. .. .. .. .. £ 8. d. 61,711 7 10 1,380 19 1 15,443 11 8 7,226 14- 873 .. .. 1890. - 8 5 - - .. .. Borough Court, Soutlwark 6,100 1,033 13 8 7 10 7 8 6 1 .. .. 213 .. .. .. .. 407 Magistracy .. .. .. .. .. .. .. .. Police .. .. .. .. 26,947 14 Weights and Measures.. .. .. 11 11 Lunatics .. .. .. Reformatories .. .. Port of London.. .. Petroleum .. .. Establishment Expenses Pensions .. .. .. Salaries and Pensions on .. .. .. .. .. .. .. .. .. .. .. Account .. .. 1,644 4,580 2,671 412 3,032 39 27,679 9,369 .. .. 3 1 884 £ s. d. 65,788 18 2,445 1 2 14,882 16 1 7,532 1 9 4 10 1,216 13 10 832 6 1 1,147 10 4 7,321 14 8 7,461 4 9 10,518 214 19 6 201 8 6 215 3 2 6 8 709 16 2 604 16 8 1,222 3 1,305 4,877 4 3 27,840 7 3 - - - 6 10 16 11 10 3 15 7 7 9 2 1892. £ 8. d. 62,011 18 1 4,610 4 1 14,662 19 9 7,063-10 767 11 10 4 10 Sheriffs .. Coroner .. 1891. - 3,435 331 3,030 95 32,337 10,091 1,399 16 11 5,147 9 - 30,107 15 - 3 2 4 9 7 84 2 1 8 - - 5 11 1,450 17 1 4,682 1 8 11 32,340 11 - - 3,272 13 11 314 12 1 3,295 18 4 28 633,919 5 11,892 15 - - 2,587 6 314 4,457 2830,124 2 11,372 14 4 - 11 6 9 3 4 - Special .. Mayoralty .. .. .. State and Civic.. .. .. Gnildhall and other Buildings Receptions, Honorary votes, &e. Law and Parliamentary .. Library, Museum, &c. .. .. Schools .. .. .. .. Almshouses .. .. .. Donations .. .. .. 3,853 15 .. .. .. .. .. .. .. .. .. 4 3,330 7 9 15,320 8 2,081 5 3,778 12 3,721 10 3,032 14 7,297 12,547 1 1,976 7 7,024 5 .. 1 5 2 9 7 2 5 3 16 7 4 18 16 1 16 13 17 3 2 4 5 9 2 - 15,040 2,369 5,043 3,883 3,043 6,317 11,616 1,925 7,247 - 239,485 233,158 14 2,448 17 1 7 15,898 2,350 7,048 6,653 2,540 7,232 11,253 1,975 6,548 1 11 4 2,249 1 15 10 11 19 8 10 9 16 7 13 7 2 11 4 2 6 3 17,622 2,155 8,191 1,152 6,011 6,716 8,179 2,086 6,967 9 12 3 14 2 7 3 2 252,655 - 252,151 - - 3 8 5 6 6 6 6 1 .5 11 6 4 The result of this classification is to clear the total annual expenditure for all purposes of the items which cannot be regarded as expenditure. 8. d. 9 517,519 19 4 521,581 12 1 539,559 12 11 In 1889 ,, ,, ,, 1890 1891 1892 551,743 Showing a gradual increase each year. k3026) ordinary current In the four years the total ordinary expenditure was:- F F2 4 2 xxxviii 14. Differentiation of City and County Expenditure of the Corporation. A vital part of the question of unification is the relationship between the Corporation expenditure and the County Council expenditure, and for a consideration of this subject it is necessary to have a division of the expenditure of the Corporation into expenditure for services relating to the local purposes of the City only and for services relating to County purposes. An examination of the services for which expenditure is now incurred by the Corporation, reveals the fact that some of it is of exactly the same nature as that incurred by the County under the control and management of the County Council. Beyond this, there are services which obviously are not limited to City purposes pure and simple. It is possible, then, to divide the expenditure of the Corporation into at least three classes :-(1) Expenditure relating to local City purposes only, (2) expenditure relating to County purposes, and (3) expenditure for general purposes. The expenditure for local City purposes only would consist of those items whose range of utility does not go beyond the City area, and of such administrative expenditure necessary to the management of the City estates and the support of the mayoralty and civic functions. The expenditure for County purposes would be for services concurrent with services performed by the County Council, and for services of the same nature as existing County services. The expenditure for general purposes would be those items whose range of utility go beyond the City area, or whose funds are drawn from the larger area beyond the City. With reference to this last group, no area other than the County area can have so paramount an interest either in the revenue which is supplied or in the application of the expenditure, and it is, therefore, included as a section of the expenditure relating to County purposes, thus reducing the division of the Corporation expenditure into two main groups :-(a) City and (b) County. (a) Using the figures of the ordinary current expenditure (ante p. xxxvi) the expenditure relating to City purposes only may be taken as follows :1889. 6 d. 6 .. 7,124 14,673 213 4 5 8 1 2 - 8,620 6 13,407 1 214 19 5 .. .. 6 8,869 18 12,259 14 201 8 .. .. 27.843 15 9 32,543 7 34,099 .. .. .. .. 3,535 15,320 .. .. .. Mayor's Court .. .. City of London Court .. Borough Court, Southwark .. .. Establishment Expenses Pensions .. Mayoralty .. .. .. .. .. Receptions, Honorary Votes, &c. Law and Parliamentary .. Almshouses .. .. Freemen's Orphan School Donations .. .. Police .. .. .. .. .. £ s. d. 2,849 5 9 5 11 8 1 .. Guildhall and other Buildings .. 1892. s. .. Monument 1891. £ 2,584 Dwellings for the Poor.. .. .. State and Civic .. 1890. 2,081 5 3,778 12 1,243 17 2 .. 3,721 10 3,032 14 9 7 1,976 7 6,938 18 7,024 5 26,947 14 3 3 3 128,039 18 4 .. .. .. .. .. .. .. t 7 4,174 18 11 15,040 16 3 5 2 .. 6 £ 1,892 2,369 7 5,043 4 364 4 134,762 . 4 6 5 11 3 8 3 2 2 10 30,334 5 8 5,794 13 17,622 9 6 8 3 4 - 2,350 10 11 7,048 19 8 2 4 8 252 £ 8. d. 2,225 17 6 8,540 11,996 215 5,480 2 15,898 15 2,155 12 5 8,191 3 6 9 8 240 15 9 7 1,152 14 6,011 2 1,975 4 2 6,963 13 5 6,548 6 3 30,107 15 11 1 6 7 3 7 6,653 10 2,540 16 3,883 18; 5 3,043 16 9 1,925 13 6,193 7,247 17 27,840 7 d. 4 4 8. 2,086 7,278 6 6,967 6 32,340 11 7 143,152 16 143,142 10 .1 - 6 6 5 11 - 4 3 xxxix (b) The expenditure relating to County purposes would be as follows: 1889. £ 2 (i.) Services concurrent with those of the County Council Criminal Justice 6,100 407 1,641 6,731 Magistracy.. 205 weights and Measures 3,127 Lunatics .. 412 Reformatories 39 Petroleum .. 5,834 Prison and other County Pensions II ~ll.rl I.IIII~C 11 ~~ ~ Sheriffs Coroner J 1890. .. .. s. d. 4 7 7 6 13 2 16 15 3 Bridges , .. .. Parks and Open Spaces Salaries and Pensions on these 3 4 15 13 12 4 13 9 3 61,711 15,'762 5 11 2 3 6 3 10 7 28,197 10,518 604 1,450 7,337 7 5 11 1 28,802 14 4 65,788 18 16,832 1 - 8 6 62,011 18 1 16,333 16 11 - 2,448 17 4 2,249 82,454 13 2 80,794 12 4 84,870 212,'84 10 1,380 19 9 1 3 5 4 5 it 16 8 17 1 18 8 9 6 3 6 - i 5 s. cd. 2,967 9 314 311 5 5,578 7 9 7 3,330 5 215,848 1,203 3,059 873 14,912 7 17,412 17 4 4 2 11 709 1,399 7,368 567 3,682 314 63,617 83,235 9 7,711 3 1,305 7,169 158 3,999 331 96 5,916 - 3,855 13 4 £ d. 1,222 27,521 11 Accounts.. 9 7,321 14 10 10 8 1 6 10 11 24, 502 17 11 (ii.) Services of similar nature to those of the County Council s. 16 16 8 9 13 12 30 11 6,412 12 d. s. 1892. 1891. 4 1 3 - 7 (iii.) Services whose range of influence is beyond the City Markets area;- . . . * Market Approaches (Leadenhall) Port of London . . Education-Gresham College . City of London School City School for Girls . School of Music Technical Education Library, Museum, and Art Gallery Royal Exchange . . . - 8 4 28,595 13 1,000 6,770 9,480 1 3,208 29,237 7 500 - 276,843 0. 389,480 - 1 - 1 8 - 7,102 5 7,226 14 6 9 281,741 18 8 Total County purposes 11 1,033 13 14,469 8 1 218,552 12 10 4,610 4 1 3,484 12 10 881 4 10 15,059 16 11 29,874 13 9 - 6 - 2 11 - 7 4 396,397 4 1 4 287,405 6 2 4 408,590 3 9 294,917 13 - - 386,819 8,112 7,532 7,875 18 5 7,063 - 10 1 1 224,390 9 7 2,445 1 2 4,514 19 9 832 6 1 16,502 10 7 11 17 4 30,576 2 6 7 11 It thus appears that of the total ordinary current expenditure of the Corporation, according to the figures of the four years, about 74 per cent. is for County purposes-purposes, that is, in which the whole Administrative County is equally interested, and for which there is dual management, namely, the City Corporation for the City area, and the County Council for the County area. xl 15. Estimated Financial Effect of Unification. The financial effect of unification may be considered from two alternative schemes, (a) the transfer of County services only to the County Council, and (b) the merger of the entire functions of the Corporation in the County. (a) The transfer of County services only is beset with difficulties. Its effect upon the City would be to leave the Mayoralty and civic officials with only the functions indicated on p. xxxviii, and an expenditure in the four years under consideration, for ordinary current purposes only, of £ 1889 1890 1891 1892 s. d. 128,039 18 134,762 4 143,142 10 143,152 16 .. .. .. .. 4 9 7 3 This expenditure is at present met by the following revenues:1890. 1891. 1892. £ 8. d. 106,381 9 2 28,380 15 7 £ s. d. 116,025 1 7 27,117 9 - £ s. d. 109,630 1 5 33,522 14 10 134,762 143,142 10 7 143,152 16 3 1889. General Estates and Funds .. Fees and other receipts in aid.. .. .. £ s. d. 96,890 5 10 31,149 12 6 128,039 18 4 4 9 Its effect upon the County would be to place upon the County Council the expenditure of the four years as under :£ .. .. .. .. 1889 1890 1891 1892 .. .. .. .. s.d. 389,480 386,819 396,397 408,590 1 0 7 4 2 4 7 11 which expenditure is at present met by the following revenues 1889. £ Bridge House Estates .. .. Grain Duty .. .. .. .. .. Gresham Estate Ward's Recreation Ground Funds General Estates and Funds .. Market Rents and dues .. Fees and other receipts in aid .. .. .. .. . d. £ .. .. .. 63,617 3 12,534 12 10,353 10 587 9 49,175 13 215,848 3 37,363 9 2 2 2 8 9 1 61,711 12,418 8,260 538 50,174 212,684 41,031 389,480 .. - 386,819 1 1891. 1890. s. d. 7 10 13 4 7 1 10 8 13 10 10 7 4 7 4 £ 62,011 12,407 7,947 538 53,200 218,552 41,738 396,397 1892. . d. 18 1 6 4 5 8 10 8 17 10 12 10 10 11 2 4 £ s. d. 65,788 12,596 8,364 862 55,412 224,390 41,174 18 18 3 7 10 14 5 - 5 9 7 19 5 408,590 7 11 If the Bridge House Estates, the Gresham Estate, and the Grain Duty were transferred, together with the expenditure charged upon them, there would still be the remaining expenditure to be arranged for. To throw the expenditure now charged upon Corporation revenues upon the county rates would be to give the Corporation an annual revenue of £50,000 to £60,000, in addition to the amount required for City purposes, and to saddle the County with an equivalent expenditure, together with the debt at present outstanding in connection with these services, namely, as estimated on p. xxxiv £43,836. It would be most difficult to devise a suitable plan for the severance of the estates to meet such a complex state of things, although some arrangement might be come to, by which the City Corporation should accept a perpetual charge against their estates in favour of the County. xli (b) The financial effect of complete unification involves some considerations of importance which have not been touched upon in the glance given at the smaller scheme of partial unification. The expenditure to be transferred to the County would be (1) the net amount falling upon the Corporation estates and revenues as ordinary current expenditure; (2) certain County services now under the control of the Commissioners of Sewers; and (3) the police now under the control of the Commissioner for the City. Following upon this transfer there would be a reorganization of the County rating in the City so as to abolish the present exemption of the City from the special County rate. The final estimate will, therefore, include provisions for the expenditure of the City as it at present stands, the liquidation of the debt falling upon City estates, and the collection of the County rates upon the City area. The net expenditure falling upon the Corporation revenues and funds would be as follows : 1889. 1890. 1891. 1892. .. £ s. d. 134,762 4 9 386,819 7 4 £ s. d. 143,142 10 7 396,397 2 4 £ s. d. 143,152 16 3 408,590 7 4 521,581 12 539,539 12 11 551,743 - - 552,836 19 .. £ s. d. 128,039 18 4 389,480 1 517,519 19 .. .. City purposes (p. xxxviii) County purposes (p. xxxix) 4 1 11 4 2 Add-Extra charge for debt not included therein, after allowing for payments for debt included (a) .. 35,317 - 35,431 - 557,012 12 1 - 35,431 - 574,970 12 11 - 35,693 10 587,436 14 2 The transfers from the Commissioners of Sewers and Police are for the following services and amounts, but the accounts do not set them forth very clearly according to the Act under which they are incurred, and there may be a slight correction to make here : rin-1890. - - 1889. Commissioners of Sewers :.. .. Artizans' Dwellings . Dangerous Structures (less receipts in aid) Gas Testing .. .. .. .. .. .. .. .. af- £ s.- £ d. - 8,000 s. d. - - 7,000 £ s. d - 10,000 139 13 4 - 914 - -16 14 641 -24 10 4 1,068 15 1892. 1891. 5 5 7 s. d. £ 11,000 - - -21 5 7 7,07 716 8 Gas Meter Testing (less receipts in aid) .. .. .. .. 8 7 793 15 30 1 9 187 10 972 15 8 20 13 - 8 -325 -1,555 14 6 -203 -193 13 7 637 22 -630 -4 4 Contagious Diseases and Slaughterhouses Explosives .. .. .. .. Weights and Measures Sky Signs .. .. .. .. .. .. .. .. .. .. - 150 2 10 74,285 8 9 10 15 14 10 -1 I-- . - 15 - 9,852 And from the City Police . - 1,000 22 14 459 2 7,368 12 6 12,052 0 1 11,526 10 1 9 4 84,798 1 3 91,387 3 78,420 2 (a) These amounts are made up as follows :1889 £ 1891 1890 s. d. £ s. d Less payments included expenditure, viz.:Highgate woods Lunaticasylum Net charge for debt - 150 354 - - - - - - 8,405 - 35,317 - - 35,431 - 43,836 £ s. d. £ s. d. 43,836 - - 150 24v - - - - 43,836 - -- 150 240 - - - - - 8,405 - - 8,142 10 - - 35,431 - - 35,693 10 - in yearly .. .. .. .. .. .. .. - - - - 43,836 8,519 Estimate charge for debt (see p. xxxiv) 1892 .. .. 150240- - xlii The revenue available from the Corporation Estates and Funds would be 1889. General Estates .. .. .. Interest .. .. Gresham Estate .. .. .. .. .. 1890. 15,910 13 8,282 1 .. Grain and other Duties (less estimate of £8,000 to meet loans) .. .. Receipts in aid (see p. xxxii) .. .. Bridge House. Estates .. .. .. Market Rents and Dues .. .. 1892. £ s. d. 160,121 18 5 15,872 8 8 8,234 13 - s. d. 4 4 140,647 1891. 4 - £ s. d. 145,261 10 1 14,560 18 4 8,705 16 7 £ s. d. 149,425 14 2 14,011 2 10 8,970 8 4 1,948 68,855 62,011 218,552 4,619 18 74,697 14 65,788 18 224,390 9 519,897 4,516 68,313 63,617 215,848 2 1 3 3 3 7 2 9 5,159 17 6 69,411 19 7 61,711 7 10 212,684 10 7 517,334 9 5 533,216 15 7 12 9 19 11 18 1 12 10 8 7 541,904 8 3 - 7 5 10 The final estimate of receipts and expenditure on the basis of complete transfer and re-organization would, therefore, beRr;rlrro ;E~bVVV II OI in aid -Fi~P~a Receipts~RrrllnnI;O (se~ :o Q , r n £ (1) Expenditure for Current purposes (including Police paid for out of estates) p. xli. (2) Police paid for out of rates (3) Transfer from the Commissioners of Sewers i r,r, 74,285 9,852 City of London Court S. d. funds .. 0 - £ s. d. 9 557,012 12 78,420 9 1 4 2 10 7,368 12 6 12,052 6 1 642,801 13 11 671,821 - 3 8 574,970 12 11 84,798 1 3 d. 587,436 14 2 91,387 2 3 11,326 10 690,350 6 1 6 21,915 5,895 6 3 8 6 19,170 9 10 7,453 15 - 39,902 74,285 - - 39,902 -- - - 9 78,420 9 4 39,902 84,798 - 8 1 3 39,902 91,387 517,334 9 5 533,216 15 7 519,897 8 7 541,904 651,271 4 1 671,109 672,408 14,296 13 2 28,308 and -as s 6 1 . .. £ 16,923 11 2,646 19 ..- (2) Revenues from the estates £ s. d. 1892. 2 10 3 1 Special County Rate levied from the 2-9 1891. 15,608 4,141 . City on £4,163,655.. Police Rate ...... i 1890. 636,974 10 11 To meet this expenditure there would be(1) Increased revenues from the foling sourcesBridge House and Blackfriars Bridge Estates - unapplied balances in future made applicable to London bridges generally .. I , Ii 1889. - - 2 3 5 10 Total revenues applicable to expenditure .. of 0*- .. . Balance of Revenue brought down . -.- Deduct-Estimated loss of Revenue from interest on Cash Balances not available for use hy the Chamber of London .. . . Estimated cost of maintenance of 15 6 1 7 694,817 12 11 586 19 9 4,467 6 5 Balance surplus (+) or deficit - 2,000 - - 2,000 - - 2,000 - - 6,000 t. - - 6,000 - - 6,000 - - 6,000 - - 8,000 Tower Bridge.. 2,000 - 8,000 - 8,000 - 8,000 - - 7,413 - 13 7 (-) after transfer and re-organization (if all expenditure remains as at present) on the basis of four years' figures .. .. . 0 .. .0 6,296 13 2 + 20,308 1 7 3 -3,532 This estimate is based upon the figures as they work out from the four years which have been analysed. It does not take count of several special points which may be raised by schemes of unification, such, for instance, as the assimilation of the Lord Mayor's Court and the City of London Court to other Courts of the Metropolis constituted for similar purposes, and the consequent transfer of revenues and charges from the county to the Government, the lessening of the cost for lunatics, by transferring the asylum to the nor does it take count of ecionomy resultin system of government. from the abolition County, of a dual xliii 16. Expenditure on behalf of Freemen of the City. There remain to be considered one or two minor results which would follow upon unification. Special expenditure on behalf of the Freemen of the City is incurred by the Corporation under the heads of (1) Pensions to Widows; (2) Orphan School, and Almshouses. A complete analysis of this expenditure has been made from 1869 to 1892 (see pp. 38-9), and there may arise a legal question whethei and in what manner this expenditure is to be continued after unification has been effected, and to what extent. The Pensions to widows are dispensed by the Court of Aldermen to the extent of £210 per annum, and by the Court of Common Council to the extent of £50C per annum. This grant appears, from the Commission of 1837, to have been in lieu of a former distribution on St. Thomas's Day of the proceeds of the poor box raised by contributions made by persons on admission to their freedom (see p. 122). (3026) xliv 17. Bequests administered by the Corporation. Itwill be convenient to have set forth the various bequests which the Corporation administer through their accounts, They dealt with in their general estates, their trust estates and in specialI legacy estates, and are as are follows : 1889. 1891. 1890. General Estates-5ohh Costin's bequest Sir Gilbert Folliott's bequest Sir John Philpot's bequest.. Rectors and Churchwardens of St. Peter's, Berkhampstead, and St. Sepulchre, Middlesex R. Smith's gift Six poor couples residing in Roger's Almshouses Roger's Almshouses Clothing for poor widows of St. Botolph, Bishopsgate, the gift of John Curzon The Honourable Robert Bertie's bequest .. Mrs. Abegail Malpas' bequest Water supplied for drinking fountain at Smithfield, Sir Martin Expenses, Bowes' bequest . . d. S. 4 19 269 15 £ s. 36 16 -19 299 3 35 6 1 £ P s. d. 36 16 -19 6 269 - 11 24 s.d. 76 19 285 6 - 6 15 12 46 13 212 6 49 12 S 2 15 12 46 13 15 12 38 13 220 2 40 5 15 12 68 228 16 77 18 228 16 53 10 8 15 3 3 18 20 16 . 1892. I~IIII~'lll'~l~ll 11~? 13 6 6- 14 7 19 14 6 - - Maintenance of garden and foun- tamn at Smithfield 147 . Coals supplied to the several parishes in London and Southwark, pursuant to the will of Sir Thomas Cambell .. .. . .. - Miss 18 18 258 15 10 1,083 Gres1kam EstatesAllowance, clothing, &c., of poor almsmen and repairs to alms. houses .. . . . 170 14 - 1 - 120 14 - 9 215 18 2 1,040 11 9 - - 393 18 8 405 11 867 11 431 150 - 3 6 5 877 15 1 1 9 - 443 13 2 52 JBathus' Bequest- Assistance the to recovered patients in City of London Asylum .. 0 Lunatic 13 . Admiral Duff's LegacyChurch of England Readers' Association 1 1 32 12 . 8 12 2 22 12 - 4 13 17 - - Scripture 31 4 ii 1,534 6 1,301 5 - 31 .. 11 .I-- 31 4 - 1,366 9 3 -I-- ill 1 11 1 i 1, 525 16 6 8 Besides these, there are the Scholarships attached to the City of London School, 19 in number, particulars of which are as follows: Amount of Name of Scholarship. Amounts paid in respect of each Scholarship. Endowment in Stock. £ s. d. 60 -- £ d. 58 26 £sd. 57 10 - £ d. 57 10 - .. .. 1,717 50 50 50 50 Scholarship Account .. .. Sir Albert David Sassoon .. 17 18 Oven Prize .. Miss Alston's Gift .. .. .. Van Robert Account Peel .. 1892. £ d. 2,000 -- 16 Sir 1891. .. 3 The Beaufoy, No. 2 .. .. 4 The Beaufoy, No. 3 .. .. 5 The Beaufoy, No. 4 .. .. 6 The David Salomon's Scholarship 7 The Shakespeare Prizes (Beaufoy) 8 TheLambertJones .. .. 9 The Travers .. .. .. 10 The Lionel Rothschild .. .. 11 The Masterman .. .. .. 12 The William Tite .. .. 13 The David Salomon's Foundation 14 The Jews' Commemoration .. 15 Warren Stormes Hale Testimonial 19 1890. .. 1iThe Times .. 2 The Beaufoy, No. 1 Lionel 1889. - - - - - - - - 50 -50 - 50 - 50 - 43 19 5 49 5 5 50 -60 - 30 -45 - 31 10 40 - - 500 50 - - - 44 22 - - - 45 65 - - - 20 25 - 20 25 - - - 13 15 1,717 -1,716 13 4 1,716 13 4 1,666 13 4 1,081 1 7 1,648 2 10 1,666 13 4 2,000 - 1,0001,50 1,050 - 1,333 6 8 50 -50 - 50 - 50 - 31 6 8 49 5 5 50 -60 3045 31 10 40 - - 50 -50- 50 - 50 - 40 11 49 8 5 50 -60 - 30 -45 31 10 40 - - 1,100 44 44 - 30 - 20 25 - - - (a) 600850 - - 80 20 25 - - - - - - - - 46 17 1 49 55 50- 60 - 30- 32 10 31 10 40 - - - - Scholarship .. .. 500-- - - - 816 5 4 - 773 12 13 15 - 2 805 3 1 - - 749194 (a) This Scholarship is 27,000 rupees, which was equivalent to about 91,640 6s. 3d. in 1894. - 9 xlv 18. The Loan Account. The system of the Corporation in respect of borrowing has been to issue City Bonds redeemable at short periods and renewed from time to time as circumstances required. The analysis (pp. 42-6) shows the total amount borrowed, the amount paid off up to 1892, and the dates at which the bonds outstanding at the end of 1892 were due. In respect of two loans, namely, the £1,060,000 for the Tower Bridge and the £347,000 to the Commissioners of Sewers, a different system was adopted, these being repaid by equal annual instalments. The securities against each loan are also stated and an additional table (p. 46) shows the average rate of interest chargeable against each class of security. The loan due by the Commissioners of Sewers in respect of Artizans' Dwellings requires a note. The yearly interest paid on it is not included among the general revenues of the Corporation, nor does the loan appear to have been issued from the Corporation Fund. The Corporation were simply the agents for obtaining the loan, and their own revenues are not aflfected by it, as it is amply secured on the rates of the City. The Act of 1881 (44 and 45 Vict., cap. lxxxix.) enables the Corporation to borrow on the credit of the rates leviable by the Commissioners of Sewers and also on the credit of the estates and revenues of the Corporation, and to advance the moneys so borrowed to the Commissioners. (026) L LG - 1.-REVENUE AND EXPENDITURE CORPORATION. OF THE 2 .-Revenue and Expenditure of the Corporation .- Revenues from Real and Funded Property and Dues and Duties. Gross Rents, Premiums, Fines for Leases, &c.:- Revenue. S. .. .. . .. . .. .. .. . .. * . .. .. Bridge House Estates (including interest on securities £2,046 16s. 9d.) (a) Blackfriars Bridge Estates .. Bequests . .. .. . . .. .. .. .. ... .. .. .. Interest on Securities and Cash Balances Dues and Duties : Grain Duty .. .. .. . .. . -. .. .. .. Brokers' Rents 000 .. 0 6 10 6 15,910 13 4 1 1 18,127 16 7 349,539 9 991 12 7 638 19 11 13 - 0 Coal and Wine Duties (less Drawbacks and Returns) Voluntary Metage (Grain) .. .. .. . Fruit Metage .. .. .. d. 158,555 2 8,915 2 91,995 19 815 6 188 6 260,469 16 General Estates Gresham Estates .. 0 645,691 7 11 (a) This item is included under this head because the securities arise from sale of Bridge House Property and remain only so long as they are not re-invested in property. Soutlwark Brdg II.--Charges on Net Revenue (Col.ar Balances carried forward. ndiolon and6.)g ale are Charges on Net Revenue brought forwardonr, ( ) Twe ander d. 4 4 1 £3. d. 9 £ 3 aroh Open Spaces. 11 10 £ S. 5 2 5,157 15 1 58,459 4 Parks and orLeadenhall Kew Improvement. Bridges.Aprah 8 .. 140,647 8,282 79,240 796 B and Blackfriars Bridges. ? . General Estates Gresham Estates . Bridge House Estates Blackf riars Bridge Estates Interest on Securities and . Cash Balances Dues and Duties . Grain Duty Coal and Wine Duties Voluntary Metage (Grain) Fruit Metage .. .. .. Brokers' Rents .. Lodn .d £ s. d. 9,076 13 7(c 12 £ S. d. 8 15,910 13 4 15,167 8 7 341,000 5 5 195 7 9 1 -413 13 600,839 9 9 5,157 15 1 12,534 12 2 193,897 1296,734 17 -f 1 193,897 238,275 8 11 1 6(dj)9,076 13 7 12,534 12 2 (c) Including £2,665 7s. 6d. for erection of new buildings, &c. (page 81 of Accounts) (d) Of this sum the following was paid within the year in respect of Loans borrowed (see also note (a) of following page). Principal .. :. £113,471 10 Interest .: .. 29,554 10 £143,026 -- of the City of London, 1889. Charges against Gross Revenue. Rents, Rates, Taxes, Insurance. Collection and Management. 2 Bequests. 4 5 3" £ 894 14 11, 405 11 - 4,230 12 10 19 1 10 188 I 15,986 - - 10 i.r 8 3 14,029 9 6 II - S. sd. 17,907 18 2 633 1 12,755 13 11 19 1 10 188 6 10 £s.dc:. s.d £ 9,77.9 13 7(b) S. 7123 9 8 227 10 8,525 1 1 d. S. 4 4 1 5 2 4 3 140,647 8,282 79,240 796 ................-...--.. - 9 1,488 12 6 -. -_ -- - . -d_ (carried forward.) Total. 228,965 I 1 9 31,504 9 14 15,910. 13 4 2,579 1 8.539 .____,..7456 7 380 19 11 I- -- -I 14461 28,901 15- 9 (b) Including £2,192 9 1,488 12 8 9 8 I7 5 5 7 9 1 600,839 4 10 796 1,052 1,f052 - 15,167 341,000 195 -413 13 2,960 8 8,539 .37 9 I 44,851 18 2 7s. 9d. Income Duty on "1GeneralProfits of the Corporation " and on Dividends. Disposal of Balances. Net Revenue. Ryl Exhne Gehm olg. Salaries andalotal. Exchnge an Pensions. £ sd. s. d. - - - - - £ s. d. 7 10,35 10 2 -- 3 - 811 5 64,428 - -- - . - 9,480 - 1 9 873 8 5 3,855 15 -2,071 9 2 .14,811 .18 186 6 2 8 4 -91,770. _-413 7 14,811 18 .7 - 4 5-31,610 4 10 69,229 - 4 15.91013 4- .- - 91,172 - - - - - 4 11 5 -81912 11 - (a) This is a charge for salaries of Grain Duty officials, paid for out of interest on cash balances. (b) This is a charge for salaries of Coal Duty officials, paid for c~t ;,f' interest on cash balances. c~ - 3 9 - 796 13- - 10 9 2 -2,071 - 1 s. d. £ 131,570 2 5 2 - d. - 1957 9. - .- 10 9 general 20 £ s. £ s. d. £ s. d. 131,570 1591013 14,981 (cridfward.) 19 7964 432,770 . - 7 - 2,446 14 597-17 11 -- 6 - Apidt 18 17 9,07613 - 8738 5 9,480 19 Colege Toal.purposes. 16 £ s. d. - - Investments, Revenue. Carried forward to next year. Balance of 15 14 13 £ 9 5 - 4 -63310 -(a) -597 17 11(b) 1957 -413 13- 9 - 1 - -76,815 18 11 1460045 3 I10 4 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, 1889. III.-Increase of Revenues by receipts from Remunerative Undertakings. Deductions from Market3 Rents. of Balance Revenue brought forward (col. 20) and new Receipts. Works and S s Rents, Ratesand 22 23 21 £ .. .. General Estates (less minus balances on Fruit Metage) s.d. £ s.d. s.d. £ 131,365 18,5- Interest on Securities and Cash Balances (less minus balances on Coal Duty and Grain Duty).. .. .. .. .. .. 14,679 146,045 New Receipts brought into account.. Leadenhall .. .. .. .. .. .. Markets---London Central .. .. .. .. .. .. .. .. Metropolitan Cattle Smithfield Hay Market .... .. .. .. .. .. Billingsgate Farringdon Coal .. .. .. .. .. ., . Deptford Cattle . .. .. .. .. .. ". .. .. .. .. .. .. .. .. 5 3 10 96,847 13 8 7,918 16 10 9,618 12 5 7,430 18 8 1,875 11 1 1,534 13 5 28,487 18 2 129 8 3 21,218 11 5 1,950 1 10 2,302 6 3 55,575 17 1 12,750 16 2 862,988 IV.-Application of Balances of' Revenue to Permanent 5 - - - - 3,848 161 397 - - 1 5 6 8 88,185 14 18 2,365 400 688 9 2 5 10 4 16 8 5 8 8261 84 1,8 1,778 2 24,661 2 8 Works. Expenditure on Balances of _________________ Revenue brought forward (Col.d 30) NeaRcips _ _ _ _ _ _ _ _ _ _ __ Clerkenwell Improvement. 31 __ Holborn Valley Improvement. 32 33 1fe212,5768 5 43,621 4 6(aj) 16 9 3 of (a) Of this amount the sunm £42,000 was paid within the year in respect of principal of loans borrowed (se also note (d) of previous page.) REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, Disposal of Balances. and Dues. Balance of Revenue. Establishment and Management. Interest ard Repayment of Debt. 24 25 Investments, 26 s.d. £ s. d. -- s. d. £ 131,365 18 - 59,160 8 728 12 4 4,977 8 4 - 11 7,481 - - 36,297 - - - 646 12- 1,732 --- 10,083 7 1 30,361 8 9 34,025 - 3 119,026 7 1 3 6 4 3 9 5 5 5 - 6,76017 5 - -5082 - - 1 - - - - 5,183 2- - - 5,1832- - 570111 68681 570111 - - -4,309 15 - 147,139 16 3 - -3,73913 1 150,879 -4,309 15 1 8 63143 - 68681 -7,809 - - - 9 4 Disposal of Balances. Dwellings for the Poor. Total. Parks and Balance of Revenue. Investments, Open Spaces. 54 37 s. d. £ 6,273 9 6 s. d. £ 1,704 16 10 s. d. £ 125,092 8 11 14,679 5 5 4,834 5 6 £ s. d. I TI - - year.y £ s. d. - Applied to General Purposes. (Carried forward.) 40 39 38 36 3 -- Carried forward to next -- (3026) 14,679 5 Permanent Works. s. d. £ 4,568 12 8 131,365 18 5 - 8 s.d( £ - 5 -7,809 4 .59,885 12 11 215,848 £s.d. 63143 65 1419,035-9 5 1,263 13 9 9,371 £sd. -5082 6 10 - 16,791 30 6,76017 90,086 16 3 3,342 10 47 8 2 3,451 9 701 121 29 5 14,679 13,388 18 Applied to General Purposes. (Carried forward.) 27 s. d. £ Carried forward to next year. 28 Total. £ 1889. - - s. £ 125,092 8 14,679 5 4,834 5 d. 11 5 6 NTH AND EP TITIPRE OF TI 1889. ORPORATION OF TEE CITY OF LONDON, V.--Application or Balances or Revenue to Justice and Police, Balances of Expenditure on Revenue brought forward (Col. 40) and New Receipts. - Mayor's Court. 41 £ .. General Estates Interest on Securities Criminal Justice. £ s. d. 8 11 383 City of London Court. Borugh C Southwark. 44 45 £ d. 1 4 £s.d. s. d. 4 10(b) 6,100 - - - 46 £s.d. 213 8 - £s.d. 7 10 407 and Cash Balances .. .. 14,679 5 5 -- .. .. ..- 4,834 5 6 - Markets - 4243 s. .. 125,092 - -- - - 144,605 19 10 Receipts in aid of ture :- expendi- Mayor's Court .. City of London Court Magistracy .. .. . .. 170,746 9,072 - 3 3 4 - - 7 - - - - - - - 14,673 5 2 - 9,072 4 7 14,916 18 10 2,151 - - - 14,673 5 2(c) 9,455 5 11(a) 6,100 4 10 - 213 - 8 - 407 7 10 (a) Including £2,331 is. 10d. for construction of the Court. (b) This is after repayment by Treasury of £1,290 8s. 8d. (c) Including £3,897 9s. 5d., part cost of erecting the new Court. VI.-Application of Balances of Revenue to Administrative Purposes. Balanes ofExpenditure Revenue broughit forward (CoL.54) and New Receipts. for ______-_____ _____ Wegt Weightsics Re- formatories. Manduuntis. Port of London and Local Marine Measres.Board. 55 General Estates £ . .. .. .. .. Interest on Securities and Cash Balances .. Markets , . .. .. .. .. , .. City of London Court .. .. .. s. d. 84,815 18 11 14,679 4,834 600 . . £ s. 11 11 5 5 5 6 - 0 - - d. - 104,929 Receipts in aid of expenditure:Weihts adMeasures 57 55 296 d. 6 10 £ s. d. 412 16 11 £ s.d. 3,032 10 - - - - - - -- - - 9 10 194 £ s. 2,671 59 58 194 6 F2 -- ._ 3 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, Justice and Police. Disposal of Balances. Balance of Revenue. Coroner. Police. Magistracy. 48 49 50 . d. 7 8 £ s. d. £ s. d. 3 4,580 6 1 26,947 14 Investments, £ s. d. 40,276 10 - 14,679 - 4,834 -- - 7 8 26,947 9,07247 - - 14,673 3 53 54 - - - 6,731 6 1 66,172 19 - 9 £ s.d. - 3 6 11 5 5 4,834 5 6 - - 8-600-- s.d. 18 14,679 - - £ 84,815 - 6 - 104,573 s.d. - -- - - £ - 243 13 2,151 14 General to (Carried Purwrpoe.) 5 5 5 5 2 2,151 next year. 52 £ s. d. 84,815 18 11 - - -- forward to 51 - 1,644 Carried Total. 47 £ 1,644 1889. 243138 6OO--(c) - -600 - - 243 13 8 9 10 104,929 (c) This amount was transferred from the invested balances of the City of London Court. Disposal of Balances. Administrative Purposes. Petroleum. General Establishment Expenses. Pensions to Officers. Total. 60 61 62 Balance ofAple Revenue. Investments, 63 £ s. d. 39 15 £ 0 s. d. 21,350 13 7,798 37 10 - 766 15 - s. d. £ 6 (a) 9,369 9 - (3026) 7798 2 £ 8 - - s. d. 47,927 16 37 6,881 4,067 £ s. 610- H 2 £ s. d. £ s. d. 47,927 16 3 1 10 9 8 - - - - 6,881 4,067 1 10 9 8 - 600- - - ---- 11 d. - - t-In 67 - _ - 66 3 600 - - 194 2 6 455 16- - - s. d. -- --- £ 36,888 Appie General Purposes. (Carried forward.) 65 64 766 15 10 - -- 2 Carried forward to next year. - - _ "- -- - --- 8 1889. REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, VII.-Applications of Revenue to Mayoralty and Civic Purposes. Expenditure on Mayoralty Balances of Revenue brought forward (col. 67). Mayoralty. Guildhall and other buildings,including State and Civic. Mayoralty. salaries and allowances to hall-keepers. 68 s. d. £ General Estate .. .. .. .. Interest on Securities and Cash Balances .. .. .. .. .. .. 69 £ 70 s. d. £ 71 s. 47,927 16 3 17,375 14 6(a) 1,061 5 6,881 1 10 -- City of London Court .. .. .. .. .. .. 600 - - - - Markets .. .. .. .. .. .. 4,067 9 8 - 59,476 7 9 17,375 14 6 5 £ s. d. 3,778 12 - 2 - -- .. .. - d. - - 1,061 5 5 3,778 12 2 (a) Including £2,055 6s. 5d. for drainage works at the Mansion House (page 41 of Accounts). VIII.-Applications of Revenue to Optional Purposes. Expenditure for Balance of Revenue brought forward (col. 79) and New Receipts. Library, Museum, and Art Gallery. Schools. 81 82 80 s. d. £ s. d. £ General Estate .. .. .. Interest on Securities and Cash .. .. .. .. .. .. .. .. .. City of London Court .. .. .. .. .. .. .. 600 - - .. .. .. .. .. .. .. 4,067 9 8 6 9 716 17 - - 69,103 7 8,013 17 d. 8 0 4 716 17 38,899 14 s. - 29,486 10 £ 10,640 18 1,444 16 - Markets .. .. .. 17,937 18 10 6,881 1 10 7,297 - - 2 - Receipts in aid of Expenditure:Monument Schools .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . .. Deficit on General Balances Net Balance of Revenue for the Year .. .. .... 2 6 - 38,899 14 9 8 50,985 5 9 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, and Civic Purposes Disposal of Balances. Balance of Revenue. Total.Inestments. Receptions, La and Honorary Pensions to Parliamegntary, Votes and Civic Civic Officials. including Gas 72 Supply. 73 s. 3,721 10 9 74 s£ d. . d. 1,020 -- - - 76 75 s.d. 3,032 14 £ 7 s. 29,989 17 d. 5 £ 3,721 10 9 - - - 600 - - - - 4,067 1,020 - - 3,032 14 7 29,989 17 5 d. £ 17,937 18 10 6,881 1 10 - - - 77 s. - - Carried Applied to forward to general purposes. next year. (Carried forward.) Water Functions.and Functions. £ - - - - 9 8 - - 29,486 10 4 - - Total. Balance of Revenue. 83 84 85 86 87 461 s.d. £ s.d. 6 9 1,976 - - - - - - 7 3 4 6,217 2 4 663 19 - 600 - - - 9 8 9 8 - 716 17 6 - 38,89914 9 - 7,002 - - 6(a) - 663 19 6 .. - 5 7,024 4,067 2 3 22 - d. - - 4,067 1,976 s. 12 2,334 600 6 9 £ - 3 - .... s.d. 17,9371810 - 7 - 461 £ - - -22 - (b) 68,461 6 - 1 s. - Donations. £ £ - Almshouses. s.d. d. - Pensions to School Officers. - 78 s. Optional Purposes. £ 1889. 3 641 16 6 (a) This is the increased balance in the Reserve Fund. (b)This is the deficit balance on General Estates. 79 d. £ s. d. 17,937 18 10 6,881 1 10 600 - - 4,067 9 8 29,486 10 4 10 Revenue and Expenditure of the Corporation l.-Revenues from Real and Funded Property and Dues and Duties. Gross Revenue. £ Rents, Premiums, Fines for Leases, &c. General Estates Gresham Estates .. . .. .. .. .. .. .. .. .. .. Bridge House Estates (including interest on securities £1,931 7s. 6d.) (a) Blackfriars Bridge Estates, . .. .. ... Bequests .. . .. 00 .. .. .. .. . S. 173,785 9,908 92,261 .. d. 8 9 8 4 4 10 8 6 826 169 12 4 . 276,951 2 9 15,872 8 8 Interest on Securities and Cash Balances Dues and Duties : Grain Duty Coal Duty .. Voluntary Metage Fruit Metage .. . .. .. . .. 18, 633 13 91,011 2 (Grai) .. .. . .. .. 647 1 775 17 403,891 6 1 (a) This item is included under this head because the securities arise from sale of Bridge House Property, and remain only so long as they are not re-invested in property. II.-.-Charges on Net Revenue and Balances carried forward. Charges on Net Revenue LnoLaehl brought forward CParks, Tower Bri outhwark (Col. 6.) and friars Bridges. Holborn Valley Black- 7 General Estates .. .. Gresham Estates .. .. Bridge House Estates .. Blackf iiars Bridge Estates .. Interest on Securities and Cash Balances .. .. Dues and Duties: Grain iDuty .. .. Coal Duty Metage Grain Fruit Metage .. .. .. .. .. .. 8 £ s. d. 160,121 18 5 8,254 13 - 78,613 2 805 18 £ Improvement. Approach, 10 11 9 s. d. £ s. d, -- £ 19,425 - 2 4,162 3 6 - 8 - - 3 10 84,270 15 7 -250 18 1 -85 2 3 - - 15,872 8 15,804 - - -- - - - - - - - - - 12,418 13 -- -- 4 -= -(d) 81,687 - -- 363,406 19 10 4,162 - 637 13 -- - £ s.d. - - - 12 - --- 5 OeSpcs s. d. £ s. d. 6 1(c) 6,588 19 1 - 4 5 57,549 andehal ndc Ope Market 5 57,549 3 5 5 101,750 4 1(e) 6,588 19 1 121418 13 4 4 (c) £12,276 uis. id. of this amount is taken from the Reserve Fund (page 93 of the Accounts), £637 13s, is paid out of interest on City Bonds (page 93 of the Accounts), and £7,148 15s. is paid out of the City's Estate (page 11 of the Accounts). (d) A further £19,608 4s. 3d. was paid off in the year, but this amount being derived from a sinking fund provided in a previous year it is not included in this account. (e) Of this sum the following amounts were paid within the year in respect of the borrowed (see also note (c) of the following page) : .. Interest ... .. .. loan X .Principal .. .. 56,482 19 8 .. 23,836 - - £80,318 19 8 11 of the City of London, 189O. Charges against Gross Revenue. Collection and Management. Rents, Rates, Taxes, Insurance. Bequests. 2 Total. 4 (carried forward.) 5 6 l £ s. £ s. 8,266 5 1,032 6 3,172 10 20 10 d. 6 4,699 7 227 10 10,475 12 2 £s. .. 697 18 8 d. I (b) 8 (c) 393 18 £S. ci. 13,663 10 4 1,653 15 4 13,648 2 8 8 6 20 169 12 15,402 8 9 1 12,491 12 3 1,261. 29,155 10 8 26,151 11 373 3 3150- 56 9 4 13,071 9 4 10 1,261 15,872 2,829 9 6 6,740 7 1 897 19 1 860 19 11 - 9 8 d. 247,795 12 - - s. 18 5 13 2 2 18 6 4 - 2,456 6 3 6,590 7 1 841 9 9 860 19 11- 10 169 12 9 8 £ 160,121 8, 254 78,613 805 40,484 6 8 1 8 15,804 3 10 84,270 15 7 -250 18 1 -85 2 3 363,406 19 10 3 (b) Including £1,791 17s. 7d. for income duty on general profits of the Corporation and on dividends. (c) This is five years corporation duty 1885-6 to 1889-90. Net Revenue. Disposal of Balances. Gehm Ryl Gehm Ryl Exchange. College. 13 s. Salaries and Pesios.nexrar. 14 d. £ s. 15 £ s. d. 784 1 4 Investments, Carried fradt to Applied to general purposes. (carried forward.) 17 16 1,033 13 7,226 14 Revenue. 18 19 20 Balance of Total. £ S. d. £ s. £ s. d. d. 26,014 5 2 134,107 13 3 12,923 - 5 2,402 17 -5 14 8,260 7 1 -5 14 1 62,495 9 2 16,117 13 200 - - 15,917 13 805 18 .6- 637 13 - 1,033 13 1 3,330 8 59 1,077 4 6 2530 81,925 7 15,234 15 14,726 19 2,308 238 7,226 14 805 18 6 2,345 10 -250 18 -85 2 2 1 5 9 194,059 19 2 169,347 - -819 12 1 - 6 -633 10 (e) This is the balance accrued during the year for the Grain Duty Sinking Fund. (f) This is a charge for salaries of Grain Duty officials paid for out of interest on Cash Balances. (g) This is a charge for salaries of Coal Duty officials paid for out of inter~est on Cash Balances. 7 18 -85 3 20,717 19 -71 -250 2,416 17 3 8 15,712 11 £ s. a. 118, 781 15 6 15,175 11 9 3 11 6 ii d. 4(e) 2 -(1 1 (g) 1 3 7 132,916 9 10 12 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, 1890. III.- Increase of Revenues by receipts from Remunerative Undertakings. Deductions from Market Rents Balance of Revenue brought forward (col. 2() and new Receips 22 21 General Estates (less minus balances on Fruit Metage) Interest on Securities .. .. .. Metage 23 Grain and .. .. .. Rents, Rates, and Taxes. Works and Services. .. 118,445 15 2 - - 14,470 14 8 - - and Cash Balances (less minus balances on Coal Duty and Grain Duty).. .. .. .. .. .. 9 10 132,916 New Receipts brought into accountMarkets-London Central .. .. .. .. .. .. Leadenhall .. Metropolitan Cattle Smithfield Hay Market .. .. .. Billing,sgate .. .. Farringdon .. of .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. Coal Deptford Cattle .. .. .. .. .. .. .. .. .. .. .. 102,868 13 7 7,676 7 9 25,969 105 13 4 24,053 8 2 1,651 18 10 2,080 62,602 - 359,923 14 IV.-Application of Balances of Revenue to - 2 6 - 5,878 11 921 3 9,573 14 8 9 8 - 4,240 18 205 17 1,825 7 13,981 13 36,627 7 - 3 7 6 6 9,611 1,206 19 1,862 1 18 3 2,381 9 368 15 683 18 8,268 8 7 6 6 5 4 9 9 10 24,400 18 7 Permanent Works. Expenditure on Balances of Revenue brought forward (Col. 30) and ________ ________ Ilolborn Valley Improvement. Clerkenwell Improvement. 32 3 New Receipts. 31 (a) This includes sale of stock, £66,019 16s. 6d. (b) This amount was transferred to the Reserve Fund and from tliat Fund to the Holborn Valley Improvement Account. (c) Of this amount the sum of £11,300 was paid within the year in respect of principal of loans borrowed. See also note (e)' on previous page. 13 OF THE CORPORATION OF THE CITY OF LONDON, REVENUE AND EXPENDITURE 1890. Disposal of Balances. and Dues. Balance of Revenue. Interest and Repayment of Total. 25 Establishment and Manaemen.ext 26 24 Investments,. 27 s. £ d. N. 13,873 1 673 18 4,450 1 8 8 8 4010 59,408 10 1 4,070 6 8 53 6 6 10 3,342 10 16,791 - 88,771 6,144 32,676 58 20,063 1,263 3,159 60,546 - - - - 9,371 - - 689 6 650 8,553 33,000 15 6 29,742 10 118,655 10 - - 4 12 17 10 13 7 14 8 18 9 9 6 - 3 212,684 10 - 7 s. d. 118,445 15 d. s. 30 28 £ s.d. 2 14,470 14 £ S s.d. Carried Applied to owr oGnea upss year. (carried forward.) 14,097 9 7 1,531 15 -6,707 17 1 46 19-9 3,989 13 6 388 -1 -1,079 9 6 2,056 2 3 147,239 3 5 £ £ sd. 8 £ s.d. 118,44515 8 14,097 - 7 -6,707 - -1,0799 2,056 2 - 9 1 9 6 6 3 976 - 12 - 146,262 10 Dwellings for the Poor. Parks and Open Spaces. Total. Balance of Revenue. Investments, Carried forward to next year. 34 35 36 37 38 39 £ £sd. 1 £ s. d. 3,024 18 s. d. 15,326 16 4 --- (3026) 8 Disposal of Balances. Permanent Works. 12,301 18 - 17 4619 3,98913 388-1 - - 9 1,531 15 - - 2 14,47014 - 5 £ s. d. 103,118 18 14,470 14 13,346 £ s. d. £ s. d. 9 - -- 8 - - - 10 - - Applied to General Purposes. (Carried forward.) 40 £ s. d. 103,118 18 14,470 14 13,346 9 8 - 10 14 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, 189 0. V.-Application of Balances of Revenue to Justice and Police. Expenditure on Balances of Revenue brought forwad(Col.40) Mayor's CourtCourt, Criminal City of London New Receipts.. 42 £ .. .. Cash Balances Markets .. s.d. 103,118 18 .. , .. 9 £ 5,302 14,470 14 8 13,346 -10 43 s. - d. 7,321 14 £ 45 s.d. £s.d. 214 19 8 -- - - 7 8 7,852 14 - 2,292 12 9 - - 3 13,154 - - £ s.d. 1,222 3 6 6 - - 7,852 14 - 46 - - 3 16,054 *. .. Magistracy 44 s. d. £ 9(a) 130,935 14 Receipts in aid of expenditure Mayor's Court .. ,.. City of London Court Sheriffs. Southwark. 41 General Estates .. .. Interest on Securities and Borough .. 157,135 2 7 15 - 4 - - 13,407 1 - 7 - 7,321 14 8 13,407 1 7 - - - - 214 19 6 1,222 3 6 (a) Including £4,534 8s. lid, for construction of the Court. VI.-Application of Balances of Revenue to Administrative Purposes. Expenditure for Balances of____________________ Revenue brought forward (col. 54) and New Receipts. Weights and Measures. 55 General Estates .. .. .. .. interest on Securities and Cash Balances.. .. Markets .. .. City of London Court .. . . .. . Receipts in aid of expenditure : Weits n Maues 11449 .. . . . .. .. ... .. Reformatories. Port of London. 57 58 59 £ s. d. 3,435 3 2 £ s. d. 331 4 9 £ s. d. 3,030 7 - 56 £ s. d. 55,035 5 5 14,470 14 8 13,346 4,100 - - -- - - £ s. d. 10 86,952 ,.. Lunatics. - 11 - - - 15 - 341 - - - - 15 REVENUE AND EXPENDITURE Justice and Police. Disposal of Balances. Balance of Revenue. Coroner. Police. 47 48 Magistracy. Carried 49 50 53 54 £ s. d. 55,035 5 5 - - 14,470 14 - 13,346 - £ s.d. 7,852 14 2,292 12 - 8 27,840 7 9 3 7,169 15 7 2,646 19 2,292 12 9 - 3 85,499 2 s.d. 13,346-10 - 1 9 71,636 14,47014 --- 7 £ s.d. 55,035 5 5 - 10 13,407 £ =- 8 - -- 4 G to (Carried forward.) 52 - 1,305 forward to next year. 51 - - Applied Investments, Total. £ s. d. £ s.d. £ s. d. £ s.J. 1,305 4 8 27,840 7 3 4,877 3 - 48,083 13 4 - 1890. OF THE CORPORATION OF THE CITY OF LONDON, - 1 -4,100 - - - - 2,646 19 1 - 4,100 - -1,100 - - 2,646 19 8 - -(b) - 11 - 1 86,952 (b) This amount was transferred from the invested balances of the City of London Court. Administrative Purposes. General Petroleum. Establishment Expenses. 60 Disposal of Balances. Pensions to Officers. Total. Balance of Revenue. Investments, Carried forward to next year. 62 63 64 65 66 61 £ s. d. 95 8 4 £ s. d. £ 24,807 10 5(c )10,091 s. d. 8 £ s. d. ---- (3026) - - 158 13 - 9 £ -- - -- - - - -- 41,791 1 7,51414 812 7,51414 812 19 11 - - 8 - 564 4,100- 4 - 55 11 5 - - I2 67 s. d. £ s. d. 13,244 3 9 -- 13,244 3 9 6,956 - 8 12,533 - 11 19,11 Applied to General Purposes. (Carried forward.) 6,956 - 8 12,533 - 11 - -- 4,100 - - 55 - - -- 11 0 5 16i REVENUE AND EXPENDITURE OF THE CORPORATION 1890. OF THE CITY OF LONDON, VII.-Applications of Revenue to Mayoralty and Civic Purposes. Expenditure on Mayoralty State and Balances of Civic. Giuildball and other buildings, including salaries and allowances to hall-keepers. 70 71 Revenue brought ward (col. for- Mayoralty. 67). 68 69 1 General Estate . . . Interest on Securities and Cash Balances City of London Court Markets .. Weights and £ ,f d. £ s. (1. 13,244 3 9 13,244 3 9 1,796 12 6 1, 242 6,9956 8 4,100 12,533 11 55 11 .. .. . .. .. . . ,, . Measures 'I 3 6,888 16 9 -i- 15,040 16 s. d. £s. 2 3,916 13 1,126 11 1,242 15 3 15 2 5,043 4 4 I VIII,-Applications of Revenue to Optional Purposes. Balance of Revenue brought forward (col. 79) Library, Museum, and -and New Receipts. Art Gallery. 80 General Estate .. ... Interest on Securities and Cash City of London Court .. .. Markets .. .. .. ,.. and Measures.. .. Weights , *,. .. £ 82 s. d. £ 1 2 1,135 s. d. . , .. .. ,.. 0 .. .. . .. .. , .. Schools. 81 £ s. d. .. Expenditure to! .. - 7,452 2 55 11 5 5 6,317 - 1 3 55 11 -- 5 7,507 13 10 Receipts in aid of expenditure : Monument .. ...* ..* ., .* .. . Schools .. ,.. .. .. .. .. .. Deficit of Revenue for the Year . 808 16 - 808 16 - - .. . 340 13 - 340 13 - - .. , .. 38,782 14 2 47,439 17 .. Library, Museum, and Art Gallery - .. ..- 38,782 14 - 7,466 10 2 6 10 9,413 11 - 7,466 10 39,973 2 2 9 49,386 18 7 17 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, and Civic Purposes. Disposal of Baiances. Balance of Revenue. Receptions, Honorary Pensions to Law and Votes and Civic Civic Officials. Parliamentary. Functions. 72 73 ,d. £ £ -- 74 s.d. £ 75 s. d. £ Carried forInvestments, ward to next Total. 76 s. d. £ 77 s. d. £s.d. (Carried forward.) 78 £s.d. 79 £ - 8 910 9 9 13,244 3 9 - - - - 6,956 - 8 - - - - - 4,100 - - - - - 1,126 12 - 3,043 16 -- 9 5,080 18 - 3,883 18 5 1,126 12 7,452 9 29,381 2 5 5511 5 - 3,043 16 - 6 2 11 7,5071310 Optional Purposes. Almshouses. to School Donations. Total. Balance of Revenue. 84 Pensions 85 86 87 Officers. 83 s. d £' s. d. s. d. £ - 1,925 13 1 7,247 17 7 s d. - 5 - - - 38,782 14 - 7 5 340 13 -- -- £ s. d 808 16 - -- -- £ 7,452 2 55 11 -- 1,012 11 s.d. - - 8 - - - 2,973 £ 1890. 2 47,439 17 19,599 14 - *- - - -19,599 14 - - 7,452 --- - - - 2 5 55 115 7,507 13 10 18 REVENUE AND EXPENDITURE THE OF THE CORPORATION OF CITY 1891. OF LONDON, Revenue and Expenditure of the Corporation 1.-Revenue~s from Real and F'unded Property and Dues and Duties. Gross Revenue. £ s. d. 157,767 5 11 9,364 15 8 Rents, premiums, fines for leases, &c. :-Genieral Estates . . Gresham Estates .. . Bridge House Estates (including Interest on Securities, £1,935 12s.) Blackfriars Bridge Estates . Bequests . .. 96,423 15 10 826 8 6 122 12 4 0. .. 264,504 18 14,560 18 15,864 3 Interest on Securities and Cash Balances Dues and duties : Grain duty.. . Coal duty .. 3 4 - . .. Voluntary metage, grain Fruit metage .. .. . .. .. . . . . 536 .. .. 0 0 . . 9 - 575 16 . 296,041 16 - 4 II.-Charges on the Net Revenue and Balances carried forward. Charges on Net Revenue brought forward London, .. . ~Gresham .. Cash Balances )ues Grain CoalDuty .. Metage Grain Fruit Metage 8,705 ~ 16 £ 7 11 1 s. d. £ s. d. £ - - £ 19,687 - - - 12 - - - s. d. 2 4 s. d. 4 1 9,818 n Open Spaccs. aroach £ s. d - 83,877 17 823 8 7 5,354 1 3 6 - - - - - - - - - .. .. 14,560 18 4 .. .. 12,405 .. .. -2,080 1 6 .. .. .. .. Duties:- andI Duty.. 8i9 £ s. d. 145,261 10 1 .. Estates Bridge House Estates .. Blackfriars Bridge Estates interest on Securities amn.l. ak a Southwark 7 General Estates Laehl T T e re.lolbornalleyLaet and Black-ToeBrd. Improvement. friars Bridges.Approa (Col. 6). 5 4 -450 19 -330 17 262,772 15 - 56,657 16 10 - - - - - - -- - - - - 4 - - - 12,407 "- - - 4 5,354 1 3 56,657 16 10 (a) This payment is in respect of interest cn 19,687 loans torrowed. 4 6 4 - -- 2 4(a) 9,818 6 - - 4 1 12,407 19 REVENUE 1891. AND EXPEINDITURE OF THE CORPORATION OF THE CITY OF LONDON, of the City of London, 1891. Charges against Gross Revenue. Colcin Net Revenue. (Carried forward ) Rent, Rates, Management. 2 Bequests. Taxes, Insurance. 3 Total. 4 6 5 i i £ s. d. s. d. £ .d. £ 9 11(a) 917 19 1 £ S. 8,054 9 1 3 3 - - 12,331 - 8 3,074 2 4 2,080 4 - I - 1- - 937 ' 906 13 19,329 13 12,032 -- 17 - 1 1,4 72 49 14 12,467 I (a) Including 7 £2,049 i 5 1 7 2 12 18 5 4 9 4 1 6 19 - - 238,668 14,560 12,405 -2,080 450 -330 6 3,458 17 11 2,080 4 6 986 19 9 906 13 4 4 4 - 1 25,83 6 - 384 15- 7 6 2 1 7 7 6 122 12 4 431 3,975 7 1 145,261 10 8, 705 16 83,877 17 823 8 12,505 15 10 658 19 1 12; 545 18 3 122 12 4 3,533 6 10 227 10 8,570 11 2 d. d. S. 1,472 - 6 1 33,269 I 262,772 15 4 - II 17s. 0d. for Income Duty on " General Profits of the Corporation," and on Dividends. Disposal of Balances. Net Revenue. Ryl Exchange. 17 4 College. to BApplied Balane.ofCarried Salaries Gehm Pensions, n general owryear. next oa.Ivsmns proe. (Carried o forward.) Q (1. . 7,063 S (1. s. 10(a) 884 - £ s. d. 4 10 774 1 4 £ 29,505 7,947 62,785 d. 6 5 5 8 s. 19 £ S. (1. 115,75(; 3 b 758 10 11 21,091 18 2 823 8 6 14,560 18 1,674 16 7,063 - 10 884 4 10 2,448 17 - 4 14,082 2 4 114,320 13 10 4 8,695 9 10 471 1 6 £s. d. £s. d. ) -1,357 9 5(b 7.58 10 11 21,091 18 2 823 8 6 2 10 6108,4183 3 14,089 15 6 -1,043 -2,080 -1,676 17 3 -2,080 4 6 -450 19 -330 17 4 148,452 20 19 18 17 16 15 14 13 S-633 7 4 -450 -330 9,166 12 8 18,192 16 5 10 \c -( 19 17 4 121,092 12 & (a) Including £333 6s. 8d. for erection of a Statue of H.M. the Queen. (b) The sum of £1,357 9s. 5d. was invested out of the balance in hand of the Grain Duty Sinking Fund, thereby reducin~g tihe balance by that amount. (c) This is a charge for Salaries of Grain Duty officials paid for out of interest on Cash Balances. A20 REVEN' E AND EXPENDiTURE OF THE CORPORATION CITY OF THE OF LONDON, 1891. III.- Increase of Revenues by Receipts from Remunerative Undertakings. Deductions from Balance of Revenue brought forward (cob.20) and New Receipts. Works and Services, Rents, Rates, and Taxes. 21 22 23 £ General Estates (less minus balances on Dues and Duties) .. .. s. d. £ s d. 6 11 107,636 £ s. d. - interest on Securities and Cash Balances (less minus balance on .. .. .. .. .. .. .. .. 5 6 121,092 12 Grain Duty 5 13,456 -;- New receipts brought into account Markets-London Central Leadenhall .. .. .. .... .. .. .. Metropolitan Cattle .. Smithfield Hay Market Billingsgate .. .. .. .. .. .. .. .. .. .. .. .. .. Farringdon Coal .. .. *.. .. .. .. , .. .. .. .. .. .. .. .. ,.. Deptford Cattle .. .. .. .. .. .. 106,998 14 3 7,546 7 7 26,336 9 10 97 9 6 23,966 17 2 1,565 1 7 2,083 2 2 57,985 14 8(a) 347,672 9 8,642 11 9 51615 3 10,795 5 10 - 3,736 7 10 179 17 8 1,042 9 5 15,805 12 40,19 1 2 4 - 10,378 2 8 1,29413 7 1,877 19 8 18 10 7 2,632 13 10 360 5 718 5 5 7,674 13 24,955 4 6 3 (a) Including £300 for deposit on contract for building. IV.--Application of Balances of Revenue to Permanent Works. Balances of Revenue brought forward (col. 30) ilolborn Valley and new Imprvmn. Receipts, rvmn. 31 P~rkand~en~pces.. . .. so £ s. d. 2,86 1 6 1 8 1 5 15,3 17,9 0 6 .. .. . .. .. .. .. ,. .. .. .. .. 13,456 Markets .. .. .. .. .. .. 15,775 15 .. .. .. .. 107,636 1 136,868 7 1 9 s. d. - or the Pooc~r . . . . ... . - 31()91 - 22 £ s. - - 6 5,70'( £ 33 Receipts in aid of expenditure : Dwenllinn Clerkenwell Ipoeet Ipoeet 32 General Estates.. .. .. .. Interest on Securities and Cash Balances . Expenditure on - 2 d. 21 Disposal of Balances. MarketiRents and Dues. Balance Interest and Repayment of Debt.,next 1Establishment and Management. 24 s. d.' s. d. Investments, forward to year. 28 s. d. £ Puroe rrie 29 27 £ Applied to Carried Revenue. 26 £ of Total. 25 £ 1891. AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, REVENUE s. d. £ s.d. £ (C . 30 s.d. £ s.d 14,847 10 9 16,791 3,997 7 - 6 - 13,456 5 6 5 121,092 12 5 13,763 15 8 13,763 15 8 7 9 1,705 33,847 13 3 - 9,366 15 2 5 13,456 5,840 16 - -7,511 - 7 6 11 93,234 18 6 3,342 10 2 10 4,383 107,636 6 - 59,366 13 8 17 11 686 - 121,092 12 -- 6 11 107,636 -- - 24 13 - - - 2,464 34 62,415 19 7 35,067 12 117,810 16 6 -7,511 - -- - 4 129,119 16 72 16 4,233 13 - -381 12 -4,430 4 11 218,552 12 10 - - 1 4,233 13 991 41 703 86 9,991 16 3 17 5 4 573 17 - -381 12 -4,430 4 11 - -4,811 - ll(a} 3 5 4,642 15 - 3 573 17 6 451 15 28,943 - 16 72 3 10 19,733 6 5 10 10 6 1 1 4 6 - 7 136,868 6 (a) This is increased by £2,937 5s. 1d., which is a receipt from the Approaches Account in respect of works charged. to the Market Account from 1885 to 1890. This receipt is not included in column 21, so as not to swell market dues, but it is duly entered in the amount carried forward to column 31. Disposal of Balances. Permanent Works. Dwellings for the Poor. Balance of Revenue. Total. Parks and Open Spaces. 34 3 36 7 s. d.1 £ 541 - 7 s. d. £ 5,465 13 5(c) £ s. d. 6,005 14 -- --- 33,630 13 10 25,009 13 6 5,470 1 9 -- - - 5,470 1 9 - 2 -1,67017 6,010 2 4(b)l 7,136 10 7 1,67017 71,787 - 2 3 £ s. d. (c) £ s. d. - 515 14 - - - - 6 K 15,775 15 -107,054 4 8 87 6 6 515 14 - - Including £3,210 towards pur chase of additional land at Higham Park (page 73 of Accounts). (3026 a. 1 -- - - 81,000 s. £ 101,630 12 11 13,456 5 6 - - 9 10 s. d. £ - -26,054 4 8 81,000 87 6 6 (b) Including £4,117 18s. Od. on account of Billingsgate Buildings. 40 38(Carried 11,63() 12 11 13,456 5 6 15,775 15 1 [105,411 Applied to General Purposes. forward.) 38 37 35; Carried forward to next Year. 39 Investments. 6 3 8 -106,451 - 130,862 13 a REVENUE. AND EXPENDITURE OF THE CORPORATION V.-Application of Balances of Revenue to Justice and Police. Balances Balanes of Revenue brought forward (col. 40) and New Receipts. £ .. .. ofExpenditure Mayor's Court. Criminal City.o Justice.wark. 42 s.d. £ .. 101.630 12 11 on MBorough 41 General Estates 1891. OFTHE CITY OF LONDON, 43 s.d. £ 44 s. d. 7 3(a) 7,461 1,249 nCourt,South- 4 £ Sheriffs. 46 45 s.d. £ 201 9 s.d. 8 6 £ s.d. 16 2 709 16 2 709 Interest on Securities and Cash .. .. .. .. .. .. 13,456 5 15,775 15 6 - 1 - 130,862 13 Balances Markets.. 6 7,653 4 2 - - - - - - - - - - - - - - - - - - - - - Receipts in aid of expenditure:Mayor's Court .. Criminal Justice .. .. .. 230 4 2' 7,653 - 250 - City of London Court .. 18,154 17 9 - .. 2,220 19 7 - - - 8,902 11 5 12,259 14 - Magistracy... - 1159,141 15 7,711 3 - 4 9 12,259 14 3 201 8 6 (a) Including £32 13s. 5d. on account of construction of new offices (page 89 of Accounts). VI.-Application of Balances of Revenue to Administrative Purposes. Expenditure for Balances of Revenue _____________________________ brought forward (col. 54) and New Receipts. Weights and Measures. Lunatics. Reformatories. Port of London. .55 56 57 58 59 £ .. .. General Estates .. .. interest on Securities and Cash Balances City of London Court . ... 1VIarkets .. .. .. .. s. d. 55,353 14 13,456 5 100) .. 15,775 - 15 84,685 15 £ s. d. 5 6 - -- 1 - s. d. £ 3,272 13 11 --- £ s. d. 314 12 - £ s. 3,295 18 - - - - 1 - - - I. C. 4 23 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, Justice and Police. 1891. Disposal of Balances. Coroner. Police. Magistracy. 47 45 Balance of Reveniue. TotalInvestments, 49 Carried g appliest forward togerarpes next year. £ s. d. £ 16 11 s. d. 30,10715 11 £ 50 s.d. 5,147 9 51 £ s.d. 46,276 18 £ 54 - s.d. s.d. £ £ s.d. S.d. £ 55,353 14 5 - - 55,353 13,456 1,399 6 forward.' 53 52 - - 5 6 1 15,775 15 -- 7,653 - -- 4 2 - - - - - - 2,22019 31,107 15 11. 11 7 2,220 19 3 7 7,368 7 68,660 16 6 8 13,456 5 6 15,775 15 - 12,259 14 1,399 16 5 - 250 - 14 5,895 3 6 4,94612 - - 4 84811 2 4 848 11 2 100 -(a) - -- 90,480 18 6 4.946 12 84,685 15 (a) This amount was transferred from the invested balances of the City of London Court. Administrative Purposes. Disposal of Balances. General Establish- Pensions to mont Expenses. Officers. 61 Petroleum. 62 60 £s. d. 28 6 £ s. d 25,512 - 2 7,770 13 - £ 6(a) 2 14 5 £ 593 -7 (3026) year. 3 s. d. 11,630 7 £ s. d. £ s. d. - 5,685 12 4 - 100 -- - 1,229 911 14,546 52 --- - 6 11 forward). (carried 66 2 67 £ s. d. 11,630 7 2 5,685 12 4 100- 14,5465 2 - 567 95 410 - - - - 2 5 188 14 6 - - -- - - - -- 17171 r% - - - 559 19170d- 1K4 - 559 - eea eea Purposes - -- 7 to - - - forward Apidt Apidt - - 5 X. s. d. 43,723 7,770 13 2 - C3C94 - 6i - - 2 64 Crid Crid next -- - Investments. 63 s. d. 11,299 Balance of 1Revenue. Total. 6 11 24 1891. REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, VII.--Application of Revenue to Mayoralty and Civic Purposes. Expenditure on Mayoralty Balances of Revenue brought forward (col. 67) and New Receipts. Guidhall and £ .. City of LondonCourt.. Markets.. Weights .. .. and Measures 69 s. d. .. 11,630 7 .. 5,685 12 .. .. .. .. .. .. .. .. .. . , 14,546 .. 559 .. £ s.d. 7 4 4,268 - £ 2 7 10 71 s.d. £ - 72 s.d. £ - 1,281 19 5 135 s.d. - 5 1 - - - 100 6,813 14 - 5 2 6 11 - - - 32,521 11 Honorary ingsincluding Votesand salaries and Civic allowances to hall-keepers. Fntos 70 2 11,630 .. 100 State and Civic Mayoralty. 68 General Estates .. .. .. Interest on Securities and Cash Balances Receptions, other build- - - - - - - - - 7 6,653 10 9 7 Receipts in aid of expenditure:- Mayoralty and Civic Government .. 20 .. - 20 - - 32,541 11 . 7 15,918 15 - 1,281 19 5 7,048 19 8 6,653 10 9 32,541 11 Deficiency in Revenue.. 7 15,918 15 - 1,281 19 5 7,048 19 8 6,653 10 9 .. VIII.-Application of Revenue to Optional Purposes. Expenditure for New Receipts. Library, Museum,Pesnst and Schools. Art Gallery. 80 £1 41,540 13 82 81 1 d £ Penhoonfis. Sho fies sd. 83 £I . sd Total Deficiency .. ,, . .. 895 12 6 40,645 1 7,232 13 7 14,060 1 9(a) 1,787 - 5 8,128 Further Deficiency in Revenue 8 1 54,705 21 1 1,787 - 5 6 2 - .. (a) Including £2,046 12s. 2d. for alterations at the City of London School (page 67 of the Accounts), and £2,547 7e. ld. for sanitary works at Freemen's Orphan School (page 69 of the Accounts). 25 EVENUE AND EXPENDITURE OF THE CORPORATION OF THE .CITY OF LONDON, and Civic Purposes.I to Civic Pensions Officials. Law and Parliamentary. 73 74 Balance of Revenue. Total. 75 £ s.d. £ £ s.d. s.d. 7 2 11,630 5,685 12 - -100 1,068 11 6 10 559 8 4 6 11 14,546 - 559 - - - - - 569 15 1 3 4 32,541 11 1,971 1 7 4 -1,971 1 4 2,540 16 7 34,512 12 11 -1,971 1 4 6 -1,971 1,068 11 4 - 5 2 6 11 -20 1,068 11 s.d. £ 6 I ; - it) Optional Purposes. Almshouses. Donations. 84 85 of Revenue. Total. 86 £s. d. £ s. d. £ 87 s. d. 89111 -- - - s. d. 6 1 1 - 2- 41,540 13 8 2 1,975 4 2 6,548 6 3 31,603 1,975 4 2 6,548 6 3 -1,971 1 4 73,143 19 10 1 4 41 40,645 - - £ -1,971 - - 6 -31,603 6 2 -33,574 76 1891. LONDON, 1892. REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF Revenue and Expenditure of the Corporation I.-Revenues from Real and Funded Property and Dues and Duties, Revenue. Rents, prem~iums, fines for leases, &c. :-General Estates o .. £ te. (1. 160,568 18 9,660 10 10 . Greshamn Estates .. Bridge House Estates (including Interest on Securities, £ 1,935 12s.).. Blackfriars Bridge Estates .. Bequests Interest on Securities and Cash Balances . Dues and duties : Grain duty , .. Coal duty.. . .. Voluntary metage, grain Fruit metage 0. .. .. " " " " " " " " " " " " " " " " " " " " " " " " " " 0 0 " " 4 6 " " " " " " 2 265,491 10 5 14,011 2 10(a) 18,095 19 1 " " 6 1135 " " " " " " " " " 94,300 10 826 8 0000 .. " " 0 0 " 476 19 3 718 14 9 298,794 6 4 (a) Including £363 premiums on renewal of market loans (pp. 94-5). 1.-Charges on the Net Revenue and Balances carried forward. Charges on Interes7 Net Revenue brought forward London, (Col. 6). Southwark, Tower Bridge. ilolborn Valley Improvement. and Blackfriars Bridges. 9 S. General Estates . Gresham Estates . Bridge House Estates.. Blackfriars Bridge Estates Interest on Securities and Cash Balances Coal Duty . Metage Grain Fruit Metage d. £ 2 4 1 8,627 6 8. d. £ Parks 10 £ s. d. 17,212 and Open Spaces. 12 £ s. d. s. d. £s. (1. 1 7,650 16 2(a) 15,000 - - 1 7 57,161 16 5 14,011- 2 10 . Dues and Duties : Grain Duty.. 149,425 14 8,970 8 79;917 12 805 18 Leadenhall Market Approach. . .. .. .. .. . . 14,684 4 11 -2 11 -470 16 9 -108 11 12,596 _., i 267,233 2 1 "18 3 495 15 8, 627 7 157,161 16 5 . 17,707 i (a) This includes £5,205 158. for interest on loans. 15 3 17,650 16 2 27,596- 18 3 27 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, 1892. of the City of London, 1892. Charges against Gross Revenue. Net Revenue. (Carried forward.) Collection, Rent, Rates, Taxes, Insurance. Management. Total. Bequests. 6 5 4 2 -i 4,141 19 20 10 I 3,037 18 2 11 373 15 149,425 14 8,970 8 14,382 18 5 20 10 135 2 4 79,917 12 805 18 6 239,119 13 1 It - 10,760 16 5 5 1 6 3 - 8 £ 11,143 690 135 7 2 6,598 10,240 19 2 14,289 12 £ s. di. 742 12 9 443 13 2 £ s. d. d. S. 3,802 4 2 246 9 4 --- - 2 4 - - 8 3 1,321 5 1 14,684 -2 2 11 947 16 1,321 -8 3 2 11 d. 2 4 1 31,561 2- 10 4 11 11 - -470 16 -108 11 5 827 11,191 14,011 3,411 14 9 S. I 9 19,048 13 9 d. 26,371 17 56 10 9 3 4 2 i - 5 891 827 S. 4 3 9 2 1 267,233 - (a) Including £1,121 19s. 4d. for Income Duty on "General Profits of the Corporation," and on Dividends. Disposal of Balances. Net Revenue. Royal Exchange. Gresham College, 13 3,440 5 4 £ 832 £ 17 16 s. d. 6 764 2 9 9 S.9 39,862 16 4,272 11 66,553 - 3,440 5 4 832- 6 1 2,249 Applied to general purposes. (Carried 6 14,081 16 495 15 1 3 125,266 - 20 19 18 £ S. CL. d. s. d. £ S. 3 109,5 62 17 11 -14,336 13 8(a) -663 6 5 606 4,697 16 11 4,091 16 5(Ib) 10,999 11 9 13,364 11 4 2,365 805 18 805 18 6 2 9 2 602 8 -498 6 -470 16 -108 11 2 2 9 £ s. d. 4 124,562 17 11 6 4 di. 6 10 14,011 1,484 18 Carried forward to next year. forward.) 15 s. Investments, Total. Pensions. 14 £ S. d. Balance of Revenue. Salaries, and 4 141,967 1 14,011 1,235 18 -498 -633 10 -(c) 6 --4 70 16 9 -108 - 9 -7,879 17 3 2 10 12,485 16 - 11 - 137,361 3 - (a) This minus balance is the result (1) of a sale of £15,000 bonds, and (2) an investment of £663 6s. 4d. This investment is a part of the balance of the Grain Duty Sinking Fund. Further investments were made to the extent of £2,599 14s. 9d. but these were more than counterbalanced by the sale of Consols and of land and premises during the year to the extent of £7,209 108., which was thrown into the general cash account of the Corporation. This sale, therefore, makes good what would otherwise be a deficit on general revenue, and it is treated accordingly. Deducting from it the investments made, £2,599 14s. 9d., the net deficit would be £4,609 15s. 3d., represented by sale of investments. (b) This investment is for a sinking fund on the Royal Exchange. (c) This is a charge for Salaries of Grain Duty officials paid for out of interest on Cash Balances. 28 OF THE CITY OF LONDON, REVENUE AND EXPENDITURE OF THE CORPORATION 1892. III.--Increase of Revenues by Receipts from Remunerative Undertakings. Deductions from Balance of Revenue brought forward (col. 20) and New Receipts. 21 22 £ s.d. £ .. 23 2 - 13,377 12 10 - 3 - 112,700 4 s.d. £ s.d. 123,983 10 137,361 General Estates (less minus balances on Dues and Duties).. Rents, Rates, and Taxes. Works and Services, - Interest on Securities and Cash Balances (less minus balance on Grain .. duty) .. .. .. .. .. ,. .. New receipts brought into account:Markets-London Central.. Leadenhall .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. Metropolitan Cattle .. Smithfield Hay Market .. .. 9.. .. Billingsgate Farringdon .. .. .. .. .. .. Coal Deptford Cattle .. 9 9 25,965 86 16 .. we of 8(a) 4 7,667 12 24,418 11 .. .. .. .. .. *. .. .. .. .. 2,06912 5l,980 15 362,912 - 16,644 1(b) 8 4 6 10,709 4 - 3 5 10 9 3 2,53915 7 1,907 11 10 - 4,041 11 204 10 756 9 16,615 7 44,900 11 11 1,190 14 7 5(c) 59419 9 11 651 14 .. 6,043 6 203 4 696 9 7,338 10 2 1 8 8 10 5 9 6 24,591 11 11 (a) This is exclusive of £2,000 deposit on an electric lighting agreement. (b) This is exclusive of a rcceipt of £9,323 17s. 3d. during the year deposit in respect of the sale of the market. (c) Including £105 to "relieve distress among unemployed drovers," p. 21. IV.-Application of Balances of Revenue to Permanent Works. Balances of Revenue Expenditure on brought forward -________ (col. 30) and New Receipts. Holborn Valley Imrvmn. Ipoe~n. Clerkenwell Ipoe nt Ipoeet 31 32 3 £ General Estates. . Interest on Securities and Cash Balances Markets. .. .. .. .. .. .. .. .. .o .. .. 123,983 o 13,377 .. .. .. .. .. .. .. .. 11,409 s. d. s. d. £ s. d. £ 2 - - 12 10 - - -- - 10 5 9 29 REVENUE AND EXPENDITURE OF THlE COR~PORATION QF THE CITY OF LONDON),Z189 2. Market Rents and Dues. Disposal of Balances. Balance of Revenue. Establishment and Management. Interest and Repayment of Debt. 24 25 Investments, 26 £ s.d. £ -- - £ s. d. 123,983 10 2 - 59,692 18 2(a) 92,830 16 5 3,342 10 16,776 - 5,805 18.10 40,629 14'10 5 9 20,066 2 1 748 6 8 2,228 10 10 62,070 15 - 11 9 166 15 7 6 11 11 10,019 7 5 37,639 11 - - 9,350 - - - 28,097 10 1 117,258 18 - 2 224,390 9 rrie £s.d. £ s.d. 123,983 10 2 137,361 3 3 - 8 1,86113 4 -14,664 7611- 3 19,869 - 13 6 4 3 119 10 12 7 18 2 19 8 - - - - - - - -158182 -10,089 19 8 138,521 10 11 7 . 30 - 8 1,861 -14,664 76 4,352 -86 -158 -10,089 - £s.d. (C Applied to Pure 13,37712 10 3 19,869 - 6 15 677 5,301 4 4,134 340 775 next year. 13,3771210 - 137,361 16,385 29 27 s. d. £ s.d. Carried forward to 28 Total. - -10,248 17 10 148,770 4,352 -86127 -- 6 3 9 10 - 8 9 (a) This is exclusive of a payment of £1,316 5s. Od. for interest on loan raised for site and construction, which is paid out of capital (p. 91) and also it includes only a payment " on account " (£500) of interest on a temporary loan of £85,000 instead of the full amount payable. Disposal of Balances. Permanent Works. ____________ - _____________ of- -Balance Dwellings for Parks and the Poor Open Spaces 34 35 £ 3 Toa.Ivtmns. £ 36 s. d. 3,785 17 10(b) 3 £ s. d. 4,345 1 1 103,681 -- -1,949 (3026) 4 13 11 -- 5 3 s. d. 9 6 - 1,949 5 3 - s. d. s. d. £ - - -68,976 - 190 12 11 b - s. d. 9 1 13,377 12 10 11,409 5 9 - 6 £ 119,638 - 1 3 9,190 641 £ 1- 40 39 5 1 -68,976 - 5,654 - £ 119,638 13,377 12 10 11,409 5 9- --- 6 Applied to General Purposes. 38 37 --- 5,654 Carried forward to next Year. Invsmns (Carried forward.) s. d. 559 _______-________ Revenue. Ttl 1 3 5 6 - 9,000--(c) - 641 12 11 - 30 1892. REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, V.-Application of Balances of Revenue to Justice and Police, Expenditure on Balances of Revenue brought forward (col. 40) and New Receipts. Mayor's Court. Cort. Criminal Justice. 41 42 43 £ GeneralEstates .. .. .. d. s 119,638 9 £ sod 1 1,147 10 £ of London. Court. Borough Court, Southwark. £ 5 11 sd. s, 3 £ 215 - d. £ .. .. . . .. . . 13,377 1,0 12 10 144,425 Balances s.d. 604 16 2 Interest on Securities and Cash. Markets Sheriffs. 4546 44 sd. 10518 4 C 8 7 8 -- 9 - - --- Receipts in aid of expenditure Mayor's Court .. .. .. 19,449 18 .. 7 7,392 15 2,655 17 7,392 15 7 - --- - Criminal Justice City of London Court Magistracy .. , .. 173,923 8 - - 11,996 - - - - 8,540 5 11 10,518 18 11 5 11 11,996 3 8 - 3 8 215 - 3 2 604 16 8 I.-Application of Balances of Revenue to Administrative Purposes. Expenditure for Balances of Revenue ______________ brought forward (col. 54) And Weights and New Receipts. Measures.1 55 £ *0 Interest on Securities and Cash Balances 685679 City of London Court Markets .. .. General Estates .. .. .. .. .. .. .. .. .. ______________ Lunatics. 56 s d. £ sd. Reformatories. Port of London. °' 57 58 £ s. d. 2,587 6 11 59 £ sod. £ s d. 2 11 - 13,377 12 10 - - - - 500 11,409 314 - 6 4,457 - - -- - - - - 5 9 -- - - - 9 31 REVENUE AND Justice and Police. Disposal of Balances. Balance of Revenue. Coroner. Police. Magistracy. -Poice 47 48 49 £s.d. 1,450 17 £ s. d. 32,340 11 4 1 £s.d. 4,682 1 - -.- 1,450 17 7,392 15 1 32,340 11 4 - 7,337 18 8 £ s.d.£s.d. 68,679 2 11 3 2,655 17 73,004 2 7 (Carried forward.) year. 54 f3 £s.d. £ 8 7,453 15 - 68,679 2 11 - 9 - 13,3771210 11,409 5 9 - - - 4,604 7 8(a) 2,349 - 100,919 16 - 7 500 4 6 4,604 7 8 Expensnes went 7. Officers0 2,349 7 60 s. d. £ 22,31411 .10 Balance of Total. 63 Onext 61 £ s. d. 3 28 Pensions to 62 Perlu.GeneralEstablishment Exess £ 10,875 s. d. 4 - 6,954 15 £ 855 91 28,102 18 6,423 11 --- -+ 31 5 3 210 3 4 30,334 5 8(a) 11,372 14 2 10 Purposes.fe -- -- £ - to General Pupe. (Carried forwar d.) - £ s. 0. 28,102 18 8 -- 6,42311 5 500 s. d. £ s. d. - Applied 67 66 - 10,0566 8 - -- - -- - - - - - - - - -- - - - 45,082 16 49,534 14 11 9- (a) Including an expenditure of £510 17. lid, in respect of the day census investigation. (3026) The net invest- - 3 557 19 210 3 4 -- 8 5 1,352 19 110,056 68 380 --- 5- s. d. £ s. d, 40,576 4 3 6,954 15 year. 65 64 500 497 10 - Carried Inetnsfrado Revenue. -- 3 6 Disposal of Balances. Administrative Purposes. - - 1 4 93,966 to forward Investments. - - - (a) The total amount invested was £5,104 7s. 8d., but there was also £500 transferred from the invested balances. ments of the year are therefore entered. Petroleum. s.d. - - 5 Applied to General Purposes. - 5 11,409 11,996 - 2,655 17 next 52 13,377 12 10 - -- -- mets. £ s. d. 50,959 6 2 8 Carried forward to 51 -- - Invest Total. Maistacy 50 - -- 1892. OF THE CITY 01? LONDON, EXPENDITURE OF THE CORPORATION b 6L2 45,082 16 9 32 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, 1892. VII.--Appllcation of Revenue to Mayoralty and Civic Purposes. Balances of Expenditure on Mayoralty Revenue brought forward (col. 67) and New Receipts. Guildhall and other build- £ .. .. .. .. Interest on Securities and Cash Balances City of London Markets .. , Court .. .. ... .. .. .. s. d. .. 28,102 18 .. .. 500 10,056 £ £s.d. 1,301 - s.d. 17,622 9 8 8 6,423 11 .. 10 69 R ons, Honorary v, ciic Fntos 71 Mayoralty. 68 General Estates ingsincluding salaries and allowance to hall-keepers. State and 72 £ s.d. 9,179 8 7 5 5-- - 6 8 - 9 17,622 45,082 16 - - - 9 8 1,301 - 1,152 14 5,011 14 11 - £s.d. - - 6 - 5 14,191 3 6(a) 1,152 14 6 (a) Including £6,000 for the erection of new offices at the Guidhall. VIII.-.Application of Revenue to Optional Purposes. Expenditure for Balances of Revenue brought forward and New Receipts. Library, Museum, adsost Artaller £ .. .. .. . .. Markets .. .. .. .. .. School Officers. 82 83 s. d. £ s. d. £ s. d. 3,949 14 2 3,949 14 2 -- - Receipts in aid of expenditure:- of .. .. 815 11 3 815 11 0 Library, Museum, and Art Gallery .. 821 6 821 6 .. .. s. d ---- .---- 3,949 14 2 Monument £ ..---- Interest on Securities and Cash Balances City of London Court .. .. .. Schools. 81 80 General Estates , - 51,77519-3 - 5869511R9146, i189 13q 4 33 REVENUE AND EXPENDITURE OF THE CORPORATION OF THE CITY OF LONDON, and Civic Purposes. Balance of Revenue. Pensions t6 Civic Officials. Total. mentary. 76 74 £ s. d. 59 2 2 500- - 2 6,011 95 10- 84 .12 6 ,423 11 500 - -- - - 6,106 12 6 I - 5 - - 3,949 14 6- 41,133 2 7 6,011 2 - i s. d. £ £ s. d. 28,102 18 8 s. d. £ - 3,949 14 2 I I Optional Purposes. Balance of Revenue. Almsliouses. Donations. Total. 84 85 86 £ s.d. £ s.d. £ 87 s.d. 3,949 14 2 - 815 11 3 821 - 6 46,189 13 4 51,7750 19 6 - 21,469 14 5 2,086 5 11 6,967 6 - 73,245 13 8 £ s.d. - -- - 3 6,967 --- 2,086 5 it 2 -21,469 14 5 1892. 34 of the Rating Revenue and Expenditure 2, I. The Year 1889. Expenditure out Rates Collected. Works and Services. d. x S. d. S. 249,390 13 128,688 7 84,783 9 1 85,016 18 8,342 2 9 6,733 12 1 16,8317i 6,688 Commissioners of Sewers Commissioners of Police . Wards 0 9 Parishes (estimated as in 1890) Salaries and Pensions. s d £ I 00 39334 1890. Year The 10 I 1227,126 8 10 17,386 8 11 11,499 - 28,885 8 11 Law and Parliamentary £ s. d. 1,488 8 - - 1,488 8 - _______________________ IlIII. Expenditure out Parishes tmae .. .. .. .. . . . Rates 16,17' - Collected. - 6,68 _______ 1,9 ______________ -- -- Works and Services. £ Commissioners of Sewers Commissioners of Police Wards . .. .. .. .. .. .. .. .. .. .. , y 86,0, 5117 Pa r i h e s1 III. The Year s. d. .. 315,737 4 5 .. 90,141 13 11 5,355 10 8 9 - £ Salaries and Pensions. s.d. 3 5 115,473 89,775 18 6,702 8 £ sd. 20,040 11 6 3 4 - 21 8 ,668 1 0 ,39 - - Law and Parliamentary. £ 2,781 s.d. 6 2 - 31 1549 9 1 1 - 6 -42 2 ,7 81 1, 3 9 6 2 1891. Expenditure out Rates Collected. Works and Services. Commissioners of Sewers £ .. Commissioners of Police .. Wards.. .. Parishes (estimated as in 1890) .. .. .. ... . .. .. 219,807 .. 88,977 .. .. .. .. s. d. £ s. d. 1 7 116,309 13 9 IV. The Year .. .. .. 1 2 - 6 6,152 16,817 331,753 .. Salaries and Pensions. 5 9 8 - 96,978 6 7 5,894 19 £ s. d. 20,282 14 11 - £ s. d. 2,749 19 8 - 5 - - 11,499 225,870 19 9 31,781 6,688 Law and Parliamentary. - - 14 11 - 2,749 19 8 1892. Expenditure out Rates Collected. Commissioners of Sewers .. Commissioners of Wards .. .. Police .. .. ., .. . .. .. .. .. :. .. .. .. Works and Services. Salaries and Pensions. £ s. d. £ s. d. 307,069 11 1 123,976 13 9 95,332 5 11 3 6,892 11 104,044 6,209 - 6 9-9 Law and Parliamentary. £ s. d. 22,309 18 10 £ s. d. 1,000 - - -- - 35 Authorities of the City of London of Rates (exclusive of Poor Law Purposes). Gas, Contagious Diseases, Dangerous Structures, Balance. Deduct Receipts in aid. Total. Loans, interest and repayment. Net Expenditure. Artzns. Dwellings. £ £ s. d. 10,865 8 11 s. d. £ 173,545 17 11 - s. d. 4 4 331,974 - 85,016 18 6,73312 10,865 8 11 - 18,187 - 173,545 17 11 - £ s. d. 21,907 8 8 10,731 9 3 - - 1 - 441,911 14 5 370 33,008 17 11 £ s.d. 310,066 15 74,285 8 6,733 12 17,817 - -60,676 2 8 10,498 - 4 1,60810 8 -1,000 - 408,902 16 s.d. £ 8 9 1 6 - -49,56911 - 8 of Rates (exclusive of Poor Law purposes). Gas, Contagious-Balance Total. Diseases, DanLoans, interest and gerous Structures. repayment. Artzns. Deduct Receipts in aid. Net Expenditure. Dwellings. £ s.d. 9,6101 7 £ 6 s.d. 224,260 £ s. d. - 372,166 89,775 6,702 5 18 8 4 3 4 - 18,187 - - 11 11 6 - 9 - - 9,610 17 6 224,260 6 9 486,831 £ s.d. 25,014 11,355 £ 13 11 8 11 370 - 36,740 2 - 10 s.d. 347,151 78,420 6,702 17,817 450,091 £ 11 5 9 4 8 4 - 7 4 17 7 8 -1,000 - 9 s.d. -31,414 11,721 -1,346 1 - - -22,040 - 1 of Rates (exclusive of Poor Law Purposes). ______________ Gas, Contagious Diseases, Dan- g o s S s . cd u e.£ e r . 14,112 18 4 Loans, interest and repayment. £ 58,097 9 2 Deduct oa.i s d. £ 211,552 -96,978 -5,894 of Rates (exclusive of P'oor Law Purposes). .Balance. - ____________ Ttl Receipts Net i.Epniue s. d . 15 10 6 7 19 5 £ s. d . 23,416 12,180 4 5 - 1 4 £ 188,136 84,798 5,894 s. d . 11 9 1 3 19 5. £ 31,670 4,179 9.257 s. d . 9 - 3 10 3 3 36 3.--Summary of Receipts and 1890 1889 £ s. d. Real and Funded Property 276,380 Dues and Duties I II" 369,310 18 9 10 1 Permanent Works Bridges 1 16,392 8 4 292,823 11 29,155 10 111,067 14 8 13,875 2- 62,49 5 9 31,504 9 2 302,703 15 Holborn Valley Improvement Leadenhall Market Approach Parks and Open Spaces 45,055 7 7 237,518 75,118 16 7 1,933 1 6 15,762 5 11 190 9 9 16 9 3 5,518 Dwellings for Poor - 3 10,086 12 11 216,942 16 Markets Justice 26,140 4 2 1 117,849 2,105 18 .9 17,412 17 6,270 15 3 15,512 11 16 17 10 5,530 19 17,832 17 1 7 325 (See also below) 215 848 3 9 227,007 4 5 6 26,199 8 7 212,684 10 39,225 2 8 6,588 19 6 9,076 13 Grain Duty Sinking Fund and other Investments Clerkenwell Improvement Police. Expenditure. Receipts. Expenditure. Receipts. 43,795 15 27,840 26;947 14 3 7 Administrative Weights and 194 2 6 Measures Lunatics 455 16 Reformatories .. Port of London . 26 10 . - 164 8 2 Mayoralty and Civic Purposes Pensions 3,127 2 10 564 9 3,999 12 2 3,059 331 4 3 178 4 716 17 96 13 4 39,449 10 3 206 4 43,432 16 10 5 29,381 1 9 8,013 17 8 2 11 7,226 14 1,149 9 7,466 10 88,782 14 2 50,985 to School Officials. . 8 5 1,033 13 461 . 9 5 873 38,899 14 9 3,208 11 1 9,80 Library, Museum and Art Gallery . . . Schools Gresham College 158 13 4 29,989 17 :. .. 4 39 15 . Establishment Royal Exchange 214 412 16 11 . Petroleum . - 6 205 13 6 9 1,012 11 49,386 18 Almshouses . . . 1,976 7 3 1,925 13 Donations . . 7,024 5 7,247 17 . 981,928 15 6(a) 95,514 1,060,180 92(a) 787,220 18 2(b) 720,968 14 1(b) Wards (See also above) . Commissioners of Sewers Parishes . Total Expenditure.. 0 0 4 85,016 18 8,342 2 1 18 9 6,733 12 1 5,355 10 8 6,702 1,085,785 16 Police. 7 1,151,980 19 3 894,073 11 8 817,447 - 8 4 4 340,751 18 4 872,166 5 4 - - - 18,187 -- - - 1,207,800 6 271,298 17,187 1 8 - - j 1,374,270 18 3 831,974 18,187 1,502,092 - 3 7 101,497 2 10 17,187 1,252,012 10 89,775 18 3 8 4 (a) This shows an excess expenditure of £78,251 13$. Sd., agreeing with the balances of Revenue Account (surplus), £641 16s. 6d. (p. ii), and Trust Accounts (deficit) £78,893 10s. 2d. (p. xxiii). (b) This shows an excess receipt of £66,252 4s. ld. agreeing with balances of Revenue (deficit) £19,599 14s. (p. ii), Trust accounts (surplus), £83,249 0s. 9d. (p. xxiii), balance of Duty Sinking F~und (surplus) ;2,402 17s. (p. 11) ; and B3ride Estates not includepd as expenditure £200 (p. 11). Ijoupe Grain 44r. investment of 37 Expenditure of the City of London. 1891 1892 Receipts. £ Expenditure. d 7 8 . I. Receipts. d. d Expenditure. d.A 26,371 17 S. 279,065 16 25,836 6 279,502 13 3 9,107 11 16,975 19 5 6 19,291 13 1 62,785 7,5076 9 2 9,818 2,186 11 4 2 1.0 2,590 18 2 6 9,166 12 9 13 1 6 9,203 16 4 5, 654 6,010 226,579 16 28,279 2 218,552 12 10 1 38,553 410 - 4 - 567 7 9 314 12 188 14 2 225,550 17 6 29,498 11 3 30 179 17 10 2 10 11 7,063 - 8,128 6 210 3 6 9 3 224,390 9 7 40,663 11 1 4 2,967 9 9 - 6 9 5 3 41,706 1.9 8 41,133 1 1,636 11 2 11 46,189 13 4 10 2 7 7,532 10 54,705 1 2 4 13 11 31 35 884 40,645 1 4,514 1.9 57 19 34,512 12 11 895 12 18,332 314 380 1 45,991 17 10 20 2 32,340 11 3,484 12 10 5 4 5 3,682 13 11 - 121,388 19 6,213 6 30,107 15 11 1,126 16 9 8 25,097 5,470 5 5 7,650 16 34,705 1 19,543 16 11 6, 674 66,553 5 78,317 16 2 19 4. 1 9 8,352 1 .9 3 54,034 3 4 832 6 1 1,787 101,157 2 4 2 2,086 5 11 6 3 6,967 6.. 6(c) 6 11(c) 654,475 13 10(d) 722,870 11 6 7 107,989 5,894 19 6 10 6,152 1,804 1.9 6,548 4 5 1,975 634,699 - 5 677,485 96,978 8 2 7(d) 4 5 104,044 - 9 6,892 11 3 6,209 6 9 742,008 14 - 780,358 12 11 769,357 9 6 833.123 19 1 243,223 5 8 211,552 15 10 334,415 1 2 281,023 5 4 - - - - - - 10 8 4 5 17,187 1,002,418 19 8 18,187 1,010,098 - - 8 9 17,187 1,120,959 18,187 1,132,334 (c) This shows an excess expenditure of £42,786 2s. 5d., agreeing with balances of Revenue (deficit) £33,574 7s. 6d. (p. ii), Trust Accounts (deficit) £90,863 12s. 9d., Grain Duty Sinking Fund (deficit) £1,357 9s. 5d. (p. 19.), together with Investments of £81,000 (p. 21), and £4,946 12s. 4d. (p. 23), and a special receipt £2,937 5:. id. (p. 21). (d) This shows an excess expenditure of £68,394 17s. 9d., agreeing with balances of Revenue (deficit) £21,469 14s. 5d. (p. ii), of Trust Accounts (deficit) £62,894 11s. Od. (p. xxiii), Investments (p. 27) £2,365, and (p. 31) £4,604 7:. 8d., and transfer from Clerkenwell Improvement £9,000 (p. 29). (3026) M 38 FREEMEN 4.-Expenditure in respect of the Freemen's Orphan School, Widows of Freemen, and O Almshousesth Corporation, for ec EXPENDITURE. :Freemen's Orphan School (Current). Freemen's Orphan School (Supplemental). Year. Salaries Maintenance and Wages. of Children. Taxes, Repairs, &c. 1 2 3 1869 £ s. d. 1,085 10 - s. d. 2,314 17 6 1870 1,310 15 - 2,416 5 3 1871 1,318 5 - 2,675 15 10 1872 1,22 5 -' 2,284 10 9 881 5 1873 1,440 15 - 2,604 6 4 1,072 1874 1,305 15 - 2,441 3 10 1875 1,425 15 1876 1,415 15 1877 1,628 1878 Spcal oo Totalfor theGrnstorDtibin on behalf of School. Scholars. Rates, _____ 4 £ 1,169 77813 Building and and Repairs. Donations to School Officials. Total. of Prizes. 6 s. d. 8 7 20 - 7 8 9 4,505 13 10 25 - - £2 d. £ £ s. d. 200 - - 9 4 4,389 1 1 100 - - 5 6 5,117 6 10 100 - 1,334 19 8 5,081 18 6 150 2,625 14 11 1,619 - 6 5,670 10 5 150 - 2,733 5 1 1,015 1 11 - 2,688 - 5 1,511 11 9 2,891 4 4 1,112 1879 1,548 5 - 2,574 13 7 1,278 1880 1,653 5 - 2,656 19 4 929 1881 1,695 15 - 2,551 13 5 1,110 12 1882 1,765 18 10 2,638 2 1883 1,801 1 2,880 16 1884 1,803 15 - 1885 1,745 15 1886 5,218 £ 800 Distrbtd s. d. - - £ s. d. - 170 - - £ s. d. 519 6 - - - 727 17 3 724 2 2 312 412 - 6 737 4 6 - 100 - - 731 8 - - - 150 - - 735 10 6 - - 150 - - 722 15 - 144 7 - 144 7 - 734 16 6 194 5,164 2- 543 13 2 - 194 - - 734 1 6 5,269 16 8 - - 5,514 16 1 497 10 3 - 5,401 1 7 395 - - 148 13 5,239 12 2 250 - - 8 5,358 1 1 196 - 4 1,662 18 3 6,066 19 5 300 6 1,202 16 9 5,884 14 4 2,702 12 10 1,361 5 3 - 3,038 10 11 1,227 1,860 15 - 2,591 3 3 1887 1,905 10 - 2,820 18 1888 1,928 5 - 1,684 10 1890 - - 953 11 1 543 13 3 5 and oto Distibuin 1,025 150 12 1,224 11 11 1 - 4,569 7 Femn Amut isrbto 5 £ s d. 1 1 SeilPensions - 497 10 - 729 16 - 9 543 13 9 726 9 6 149 18 9 399 18 9 723 1 - - 144 18 - 550 - - 890 18 - 716 - - - - 149 14 9 326 2 3 775 17 - 714 - - 300 - - 150-- 5,867 13 1 300 - - 142 7 - 8 11 6,011 14 10 211 10 - 150 - 1,357 9 10 5,809 1 285 - - 1 1,133 7 10 5,859 15 11 300 - 2, 597 11 7 1,147 17 9 5,673 14 4 - 2,524 7 6 1,123 4 9 5,332 3 1,835 15 - 2,389 8 8 1,196 9 4 1891 1,553 5 - 2,577 1 6 1,762 8 1892 1,561 9 10 2,676 9 11 1,645 5 188 1 I -- Total 38,008 16 Average I },201 118 7 10 5 1 540 5 1 708 5 - 105 - - 547 7 - 702 10 - - 105 - - 466 10 - 717 5 - 131 15 - 138 3 1 554 18 1 718 5 - - 150 - 53 - - 505 - - 701 5 - 299 13 - 154 14 - 164 -- 618 7 - 716 10 - 393 5 - 136 5 - 164 - - 1,371 16 - 717 - - 5,421 13 - 268 5 - 136 - - 242 2 6 772 - - 1 5,892 14 7 300 - - 150 - - 2,547 1 5,883 4 10 186 1 2 150 - - 395 - 8 2 646 7 6 7 1 541 - - 3.538 7 1 741 - - - - 629 - -j 1,360 1 2 735 - - 3 4,527 4 213,082 13 16,145 17 1 17,205 9 - 256 7 - 1 1,22016 1 5,425 3 2 18812 8 128 810 2,64010 4 1,208 16 5,388 8 6 16317 - 133 3 3 Ten years) average, } 1,768-1 2,679 18 1883-92.J 1 1,315 15 4 284 5 145 2 1 2,20 - 3 16,152 13 - 1 130,203 16 6 i 8 1 1,583 14 6 678 II - I - 6 62,895 13 perAnnum. 29,299 90 12,383 10 8 99 6 3' 6721410 7 11 71 Ten years average, 1,539 2 1 1 8712 3 38412 - 5 1873-82.J NOTE.-A 5,763 13 6 special payment was made in 7 362 1 4 223 7 1 1,014 17 11 72184 the years 1869 and 1870 as follows :-St. Thomas's Hospital, property payable in respect of the 39 THE CITY. revenue applied to meet such expenditure, showing the amounts contributed out of the general funds of year from 1869 to 1891. REVENUE APPLIED TO MEET EXPENDITURE. Annual 0rants by the Corporation for- Fees on Total Expenditure. Almshouses.. and Gifts in Dividends, &c., Credited to Widows of Freemen. the Chamber Freemen's persons on Orphan School their Orphan School. (By order of the Account. admittance to by 14 13 12 1,337 4 d 3 £ s. d. 6,5951810 £ s.d. £s 203 1 3 £s.d. 449 8 1 £ss.d. 3,803 5 9 1,37618 3 7,635 9 4 218 3 2 306 18 6 4,302 8 - 500 - - 210 1,465 4 7,951 9 5 215 17 1 344 8 3 3,961 1 3 500 - - 210-- 1,558 5 9 7,0961110 174 388 14 6 4,383 - 2 500 - - 210-- 1,552 7,501 1 their Annual Expenditure. Epniue 18 17 16 15 8 3 £s.d. 500-- s..d. £ Tot Reven as part of Total. 19 the Court Court of Common (ByAldermen.) Council.) of the Freedom. 11 Charges paid by the Corporation Rents, Freedoms - - 20 £ d. 4,30359 1,526103 5,012 2,419 8 - .4,67113 5,093 6 - 6,482 7,956 2,025168 1,988159 -2 7,257 7,644 4 331 12 4 352 7 1 3,818 18 6 500 - - 210 - - 4,52818 6 1,67015 6 6,883 1,500 2 7 7,467 11 7 267 1 - 424 14 9 4,533 16 1 500 - - 210 - - 5,24316 1 1,67613 1 7,612 1,520 11 4 8,063 16 294 6 8 539 10 1 4,294 3 6 500 - - 210 - - 5,004 3 6 1,682 1 4 7,520 282 14 - 463 16 7 5,094 3 3 500 - - 210 - - 5,804 3 3 1,632 8 - 8,183 7 6 1,470 4 6 1,712 5 5 2 9 7,513 10 - 7,910 3 7 265 - 4 527 6 3 4,367 17 1 500 - - 210 - - 5,07717 1 1,924 111 7,794 4 - 474 5 10 4,534 16 3 500 - - 210 - - 5,244 16 3 2,49810 - 8,514 9 2,604 7 - 8,707 - 8,639 - 8,724 16 1 297 2,042 18 9 8,714 3 7 261 19 4 608 12 4 4,522 11 9 500 - - 210 - - 5,23211 1,993 11 8,356 3 2 413 16 10 555 16 4 4,559 16 11 500 - - 210 - - 5,269 16 11 2,399 11 500 -- 210 -- 5,088 22 2,775 2 10 8,68019 210- - 5,512 12 5 2,745 7 11 8,825 1 210 -- 5,757 4 3 2,345 49 1,982 14 3 9 545 2 - 4,378 22 - 305 4 4,802 12 363 84 811 1 10 5,047 43 9,194 6 10 343 1 8 658 2 2 4,871 19 5 500 - - 210 - - 5,581 19 5 2,624 3 9 9,207 3 10 243 6 8 683 11 10 4,561 14 - 500 - - 210 - - 5,271 14 - 2,172 4 - 8,370166 8 668 - - 210 - - 6,355 18 10 2,469 3 11 5,370 17 4 2,39515 5 1,884 4 10 8,849 3 11 272 1,969 10 11 9,526 7 4 262 15 1,80419 8 8,938 41 2,076 16 9 1,705 14 - 8,901 5 10 8,996 17 - 341 11 1,873..15 r5r 8,939..16 4. 1,779 15 6 1 8,262 17 1,93417 1 500 500 -- 4 6 5,645 18 10 500 4 4,660 17A A 4 500 210 201 5- 210 - 5504 1 4,530 6 8 500-- 17 6 479 13 7 4,49013 500 347 - - 3 10 691 17 3 4,737 2 9 294 9,43666 - - 3 _ "payable 5 3015 8,594 11 4 1,762 7 669Y19 220nn11i8n 1,914 _ _ _ _ _ 10 - - 500 - _ _ _ £227 1 7s. 6d." 1 9,27612 5 - 1 18 8,65 9 188 3 8,54918 5,200 13 9 2,1601710 8,136 2,96311 9,449 "St. _ _ I _ Thomas's Hospital, _ _ 83 9,834 1 2,466172 _ _ 18 85 8 5,44729 81 7-18 523111 210-- by the Corporation in respect of the Eltisley Estate," £585 15s. l0d., and Eltisley Estate, 1118 40 5. Receipts from Rents. Rents, General Estates (inchiding Dwellings of the Poor). Rents, Gresham Estate. Percentage of Year. Amount. Increase. £ Percentage of Amount. Decrease. s. d. Percentage of Amount. Increase. Decrease. £ s. d. Increase. Decrease. £ s. d. 1855 1856 1857 1858 1859 1860 1861 1862 1863 1864 1865 1866 1867 1868 1869 75,170 17 9 1870 79,931 4 3 1871 79,321 - 5 0.76 1872 79,191 12 1 0.93 1873 90,865 1874 93,510 17 1875 100,483 19 1876 109,571 8 3 1877 109,178 2 4 1878 120,326 8 6 1879 116,425 14 1 1880 115,251 6 1881 117,781 10 1882 120,734 16 1 130,162 1 1 3 0.73 21.06 43,245 10 10 6,531 14 5 22.62 44,375 7 1 1.*87 6,999 15 - 1708 47,065 7 2 6.06 6, 844 12 6 18.91 52,767 11 5 12.12 2.91 7,087 3 8 16.04 50,099 9 5.06 6,996 9 1 17"]1 51,317 12 10 2.75 9.04 7,492 3 1 11.24 53,526 9 2 1.4 7,424 9 1 12.04 56,300 2 1 5.18 7,728 2 6 8.44 56,285 7 - 324 7,979 11 1 5.47 61,483 11 4 9.21 4.22 7,827 4 2 7.26 64,316 16 10 4.61 2.12 7 - 7.46 4 11 8 43,561 14 8,440 17 10 7,505 11 6 11.08 63,418 2 7,879 3 6.66 68,390 3 11 6.33 6, 663 13.68 0.26 9.81 )728 0.34 i10.07 6 - 9.17 129,447 11 10 9 0.03 1.*40 1 6.33 20.75 4.93 0.55 7.32 1.78 2.24 5.57 4.50 4.50 1.90 5.23 2.38 4.03 136,195 - 148,686 1 6 147,556 - 4 163,653 7 1 159,101 3 1 278 1890 160,820 6 1.73 9,908 8 4 1891 156,492 17 4.38 9,64 15 8 5.49 91,773 19 7 1.74 1892 163,465 12 0.11 9,492 8 4.20 92,264 18 6 0.54 11 4 4.63 0.76 5.25 4 5.31 79 89,706 .2 10 The percentages of increase and decrease of each year are calculated on the highest previous figure. 0.55 LOANS OUTSTANDING, 1892. (3026)N IN 42 Loans Outstanding at the end of 1892, the dates at which the same are against each of such interest, and the total charge outstanding original Amounts outstanding and Total Date of Amount amount For what purpose raised. paid off. isse.raised. isu.1893 ________________________ 1894 £ 1864-9 1852-5 1,232,800 36,400 3,000 1897 1898 107,000 83,500 30,000 1872 1896 42,400 81,000 74,900 x sed. 1,700,000 Holborn Valley Improvement 1895 53,100 24,000 15,000, Holborn Valley and Farringdon Market 53,000 400,000 Metropolitan Cattle Market 14,000 40,500 1855-6 Ditto 43,000 .. 2,500 6,000 11,000 1873-6 1863-7 420,000(a) 113,000 (a) London Central Markets.. 1867 Ditto .. 1868 Ditto .. 85,000 1869 Ditto .. 44,500 155,500 200,000 [(a)- £677,000 transferred from London Central Markets as above.] .. 2,600 35,600 Ditto.-extension of Lairs and Slaughterhouses . 85,000 370,000 (a) .. 158,000 Ditto. Western Extension or London Central Poultry and Provision 113,300 J 1873 Ditto ditto 1875 Ditto ditto 110,000 1877-8 Ditto ditto 172,000 172,000 50,000 1876 Ditto General Market,Poultry and Provision and Fish Sections, formerly Fruit and Vegetable and General Markets Fish 85,000 50,000 115,000 1 and 1878 16,000 1879 80,000 1880 79,000 1881 70,000 1882 20,000 1886 10,000J 115,000 70,000 146,000 39,000 27,000 13,000 811000-) 22,000 Foreign Cattle Market, Deptford j 30,000 180,000 20,000 1874 'see over] 25,000 Carried forward 4,388,600!1430I800o192400 281,60 4,38,60 '1,430 800 9240 21,0 107,500 1205,000531,100 822,600 43 repayable, the rate of interest of each loan, the amount payable in respect class of security,. together with particulars of the securities. - ;c 1902 __________ ;e 99,600 f 1906 _____ 9 _____ -Amount - - - 1901 ______ 1899 _____ _____ _____ ______ _____ Amounts Rate of payable in the following years. 1907 _____ out- interest per cent. payable for interest, outstanding as charged t£ 482,200 31 482,200~ 400,000< 16,877 City's Fourpenny Duty on Coal, surplus lands of the ilolborn Valley, and, contingent on their insufficiency, the General Estates and Revenues of the Corporation. Tolls, &c., of Market and the ultimate surplus of the Foreign Catty. Market, and, contingent on their insufficiency, the General Estates and Revenues of the Corporation. 32 316,000 70,000 Securities given. agans securities. standing. £ 110,300 Amount 11,060 70,000 31 2,275 32 14,000 420 31 1,417 40,500 1 34 2,500 75 19,600 686 16,000 16,000 32 31 2 3 458,300 60,700 172,000 25.000 32 4,740 16,041 31 4 1,973 31 6,020 25,000 32 812 1,750 50,000 Rents, Tolls, &c., of the Central Markets, surplus lands, the site of Farringdon Market, anti, con1,742,060< tingently, the General. Estates and Revenues of the Corporation L 31 34 370,000 31 12,950 32 20,000 650 20,000 9285 3-1 4 810 455 13,000 81,000 13,000 (3026) 148,100 3,3481 22,000 138,200[137,000 poration. 2,975 158,000 57200 The General Revenues of the Cor- 7,000 85,000 3,500 78,600 520J 200,000 45,000 76 2,702,800 2,702,800 N N2 44 Loans Outstanding at the end of 1892, the dates at which the same be of such interest, and the total charge outstanding against.each Total Date of original Amounts outstanding and Aon amount For what purpose raised. pamdonff. __ ___ ____________ 1894 isu.Iie.1893 1895 1896 1897 '1898 1 1879 Foreign Cattle Market, Deptford 4,388,600 25,000 J1P80 1,430,800 192,400 281,600 107,500 205,000 531,100 306,500 Brought forward. 25,000 10,000 3,000 20,000 18,000 4,000 7,000 37,000 108,000 822,600 1,500 25,000 1881 11fff 1883 25,000 1886 20,000 1887 18,000 1889 10,000 1890 1872 3 Mkeam Billingsgate 80,70001 1874 1875 ,000 j 50,000 70,000 111 1876 35,000 1878 27,000 37,000 1880 Leadenhall Market rebuilding 10,000 10,000 40,000 89,000{ 1881 1882 1,800 Leadenhall Market and Avenues Approaches 53,800 1883 55,000 1885 15,000 1886 25,000 1842 Rebuilding Royal Exchange 1886 Building Tower Bridge and discharging loans against Black- 25,000 15,000 25,000 17,800 85,000 5,00 8,00 1,060,0) 30,000 67,200 134,500 friars and Southwark Bridges 1892 1876 134,500 Epping Forest and other Open Spaces 70,0001 1879 30,000 1880 15,000 Highgate and Kilburn 150,000120,000 45,000 50,000149,000 Open Spaces Pauper Lunatic A sylum . Commissioners of Sewers Artizans' Dwellings 8,000 for 117,000 1882 54,150) 153 X00 1883 Toa mut aal 7,5,0 153,000 205 0 5,0 341,soo 162,5001470,200 609,1001948,400 45 repayable, the rate of interest of each loan, the amount payable in respect class of security, together with particulars of the securities-continued. payable in the following years. ______ Rate of _____________ ___ 1899 1902 1901 _____ 13,000 1906 ____ ____ ____ 148,100 1907 138,200 126,300 ____ Amount out- A A ______________interest ______ pe cent. n on Securities given. payable for as charged ineet 0gis securities. standing. 137,000 2,702,800 7 6,000 ound usadn 92,854 31 2 2,702,800 2,660 76,000 fRevenues con- of the Market, and, tingently, the General Estates and Revenues of the Corporation. J 3,800 182,800 6,500 2,300 15,100 59,500 312 83,400 34 1,800 Ditto. 3 10,000 268,000 31 32 49,000 Ditto. 99,000 40,000 49,000 10,000 43, 800 53,800 31 2 55,000 31 4 148,801880 The General Revenues of the Cor3poration. 15,000 25,000 67,200 31 2 31 2 rThe 67,200 1,060,000 134,500 134,500 the Lthe L30Rents Corporation ' he 31 2 { tHoeG Profits of the BridgeEstatesand Revenues and thoenrEstates andRntin 5,0000 31 214,000 contingently, GnrlEstates and Revenues of Estte Corporation. andReenesofth 214,000 925,500 City's moiety of the Gresham EGeera of the Corporation. of th Crortonan 8,0000j6 of th ey nh opoain 31 5,000 333,000k I 13,000 32 I 154,200 147,800 202,300 3 134,0 5,081,800 A charge on the Consolidated and other Rates leviable by the Commissioners of Sewers, and, I contingently, the General Estates i~and Revenues of the Corporation. 46 Loans outstanding at the end of 1892, the amount payable in respect of interest, and the average rate of interest chargeable against each class of security. Amount outstanding charged against securities, Securities given. The City's Fourpenny Duty on Coal [now expired], Surplus£ Lands of the Holborn Valley, and, contingent on their insufficiency, the General Estates and Revenues of the .. .. ... .. .. Corporation .. Tolls, &c., of the Metropolitan Cattle Market, and the ultimate Surplus of the Foreign Cattle Market, and, contingent on their insufficiency, the General Estates and Revenues of the Corporation.. The General Revenues of the Corporation .. .. Revenues of the Foreign Cattle Market, and, contingently, the General Estates and Revenues of the .. .. .. 16,877 3, 3and3 3 13,755 344 .. 78,600 3, 34 and 32 2,698 3"43 1,742,000 .. Rents, Tolls, &c., of the Central Markets, Surplus Lands, the Site of Farringdon Market, and, contingently, the General Estates and Revenues of the Corporation Corporation .. Average of interest per cent. 82,200 400,000 Amount of interest. .. .. Rate of interest per cent. 3, 34 and 3- 59,524 3"42 31 2,660 3050 9,162 342 76,000 .. Revenues of Billingsgate Market, and, contingently, the General Estates and Revenues of the Corporation 268,000 Revenues of the Leadenhall Market, and, contingently, the General Estates and Revenues of the Corporation j 3, 3and 99,000 34 and 32 3,343 3.38 .. 148,800 34 and 32 5,073 3"41 The City's Moiety of the Gresham Estates, and, contingently, the General Estates and Revenues of the J .. .. . .. .. .3rporation .. 67,200 3- 2,352 3.50 34 and 31 36,764 3"47 31 3 7490 7,490 350 350 The General Revenues of the Corporation .. .. The Rents and Profits of the Bridge-House Estates, and, contingently, the General Estates and Revenues of the Corporation .. ..... .. .. 1,060,000 .. The City of London Grain Duty, and, contingently, the General Estates and Revenues of the Corporation The General Estates and Revenues of the Corporation 214000 21,000 f 5,000 3 150 3 00 .. 8,000 3 240 3"00 A charge on the Consolidated and other Rates leviable by'1 the Commissioners of Sewers, and, contingently, the General Estates and Revenues of the Corporation 383,000 12,255 3"20 and the City of London Grain Duty .. .. The General Estates and Revenues of the Corporation 1 3 and 3 5,031,800 Comparison with the Loans outstanding at the end of 1891.. 3, 31 and 3 172,343 3"42 5,136,500 3, 3~, 31 and 3 176,983 3"45 47 STATEMENT showing the extent to which Loans raised by the City of London Corporation, due at the end of 1869, or borrowed since that date, have been renewed) with the date of each renewal, and the amounts now outstanding. Amount outstandPurpose of Loan. Date of original issue. 1855-6 ing at the end of 1869 or borrowed since thatI date. 43,000 73,000 or to be renewed.ousadn 7 1st. 1874 1870 1852-5 1872 1873 1874 1875 1876 52,000 70,000 30,000 1800 21,000 1877 L 30,000 1879 S2,600 16,000 1873-6 1863-7 1880 1882 17,000 1883 {305,000 115,000 1867 200,000 1868 1869 85,000 2300 3,0 370,000 1873 1875 1877 1878 1876 1878 1879 1000 172,000 110,000 23,000 25,000 115,000 16,000 80,000 1880 79,000 1881 1882 1886 1887 1889 1891 1892 London Central Mar. kets 2nd. 3rd. 4th. {1877 {1874 1881 1888 1880 1887 1881 1886 1882 1887 1888 1892 1893 1894 1897 1896 1897 1902 1896 1898 1894 1897 1888, 1896 1885 1897 1898 1907 I40,000 1871 24,000 Cattle . 70,000 20,000 2000 10,000 27,000 13,000 81,000 22,000 1871 1874 1877 1880 1876 1879 1880 1881 1882 1883 1880 1882 1881 1881 1883 1886 1886 {1886 1887 1884 1892 1896 1898 1899 1906 1907 30,000 1878 1871 1872 180,000 20,000 1879 1879 1887 1886 1887 1892 .l 1874 1879. 1880 1881, 25,000 25,010 1,500 25,000 1881 1886 1886 1892 5th. at the end of 1892. Amount. 1 Date. £ 1898 1895 478,600 {1886 1893 1878 1881 {1884 1887 1892 1888 1888 1881 1888 1894 1897 1897 1888 1898 1898 - 28,000 85,000 1878 1874 {1888 {1901 1898 1891 1906 1897 1907 1898 1898 85,000 j 1892 1,742,00 1893 1896 1896 1896 1897 1894 19u7 (22,000 26,000 25,000 25,000 1879 {1882 1888s Deptford - {1884 1887 1887 i188 1881 1878 1870 Foreign Cattle Market, Loans paid Loans now stand to be paid off 60000 Metropolitan Market.. Aon off.mouti Date of Renewals since 1869 and dates at which 1886 1887 1884 1889 1890 L1891 .32,000 '25,000 25000 2000 X25,000 25,000 25,000 1,500 25,000 1879 1882 1883 1884 1886 1888 1889 1890 1891 1881 1887 1887 1892 76,000 48 Date of original issue. Purpose of Loan. Amount outstanding at the end of 1869 or borrowed since that date. 1872 8000 80,000 Dates of Renewals since 1869 and dates when Loans now stand to be or to be renewed. paid 1st. 2nd. 1879 1886 1881 1882 1874 {1888 1892 70,000 Billingsgate Market.. 1875 1891 1883 1885 10,000 40,000 1887 1888 49,000 1891 53,800 189J2 4,000 1967 55,000 1885 1886 15,000 25,000 1870 5,000 1877 1842 85,000 }99,000 I~I )2 148,80 1907 5,000 1872 1876 I1880 3 to 1886 500 }1896 S3,200 3,000 3,600 l 3,000 1871 r 1835-42 wark 1864 Bridges 46,1001 300,000 { TowerBridge,andBlackfriars and Soutliwark Bridges Bridge Tower Approaches and r 315,000 1874 1 1879 }1886 1,060,000 }1892 134,500 7,000 1873 1874 1875 1876 {11880 1886 i 1893 to 1883 1890 1891 1870 1882 {1883 1891 50,000 188.5 1886 60,000 1879 1884 1885 1874 1881 25,000 1882 39,100 I25,000 1883 1884 {11888 {1255,000 J {11886 1886 134,500 Repayable by annual drawings (30 years.) to 1892 70,000 1883 1879 30,000 99,000 15,000 10,000 5,000 { 1884 J 1894 {1887 1884 1885 S1060,000 1,907 1876 1880 1882 67,00 1879 r50,000 1879 1881 1867-9 1872 500 ~188 and when surplus of Bridge House Estates shall suffice. 1887 3,000 500 500 1879 and South- S268,000 1895 1896 1893 { 1894 01873 Blackfriars 1882 1902 ?883 Royal Exchange {1902 ~1906 1906 1882 Newgate Market Fund Date. 11 36 1896 ( 1898 . 1901 1897 1898 1880 1881 Leadenhall Market, and Approaches Avenues Amount. 1893 1895 1878 .. 4th. 1896 35,000 37,000 1876 Leadenhall Market 3rd. of 1892. _______ ______ _______ Amount outstanding at the end Loans paid off. off 1886 11888 1892 1894 1896 }214,000 15,000 1892 J 49 Date of original issue, Purpose of Loan. Amount outstanding at the end of 1869 or borrowed since that date. Highgate and Kilburn Dates of Renewals since 1869 and dates when Loans now stand to be paid off or to be renewed. Amount outstanding at the end Loans paid off. of 1892. 1st. 2nd. 3rd. 1888 5,000 1902 Pauper Lunatic Asylum 1888 8,000 1898 City of London School 1881 41,500 1884 50,000 1870 1871 1872 .. 1848-5218 New Cannon Street NewCanonStret 50,000 1871 1876 1877 1871 60,000 t.---00 1878 1879 CCf1878 I100,000 1870 1872 4th. 1879j - - Amount. Date. - --- 5,000 - 8,000 Open Spaces r 171 11 1874 87 177 1878 88 17 60,000 JHolborn Valley.. .. 10,000 18721 10,000 {25,000 17 1874 1875 1876 1877 30,000 30,000 1878 24,000 60,000 1872 ) 1878 l1875 o15,000 15,000 25,000 - 1879 Valley L 1872 p18731 1874 1881 21,0 2000 50,000 41,500 18616,000 876-I74,500 69960 69600 7450 186I18667 Im- p proemnt(potin0 secured on surplus lands) 1870 171 Holborn L ,0 1864-9 1,715,000 1884 - - - - - - - 1879 1879 69,6900 1873 50,000 1877 1878 1878 60,000 1879 {150,000 1590 - - -1100,000 - - . 1876 7 18736-0 -- - - 1,232,800 18 - (a) J 482,200 (a) These loans were repaid out of Coal and Wine Duties, as money was available, and considerable variation occurs in the dates when amounts payable at certain dates were paid off, sometimes being paid off before the date when they paid off. were due and sometimes afterwards. It is difficult therefore to distinguish the date when each loan was (3026)0 V 50 CORRECTIONS IN THE ANALYSIS (pp. 7, 8, 9, 15, 16, 17, 23, 24, 31, 32.) [These corrections do not involve any alteration in the total expenditure and no important argument turns upon them. The consequential alterations in the analysis are therefore not carried out.i -o ~ nl~n\n~: n rr rC:rrlr nr l~n:n :?*? o* 1889 01 J3S4ablishment £ expenses- As inanalysis.. Alterations . 1891 ;,£ S d. d. 33,341 +236 13 7 33,578 2 2 30,418 18 1892 d. s. d. s. 34,099 2 10 + 343 18 6 8 10 6 4 30,334 5 8 - 712 6 10 1 4 29,621 18 10 34,443 to qf lcers- As in angJlrs sto 9,369 9 2 -54 12 - " Slate and civicAs in analysis Alterations 11,372 14 -52 - 9,314 17 . Corrected total 70 s 30,080 1 1 +338 17 6 .. . Corrected total lepsions 1890 11,320 14 - 1,061 .. - 2 5 5 +161 11 1,222 17 1,242 15 +158 8 1 2 -- 1,400 15 2 5,043 Corrected total - 4 i 71 Guildhal and other buildings, including salaries and allowances to ball keeperAs in anaysis Alteration G0toCorrected Atrtos total 72 4 -500 - 4,543 4 7,048 19 3 6 6,573 16 4 8 -475 - 2 Receptions, honorary votes and civic functionsAs in analysis 1,152 14 571 13 73 Pensions to civic officialsAs in analysis Alterations . . . 1,020 . . . +54 supplyAs in analysis Alterations 1,126 12 - 52 3 - - - 1,074 12 - 7,466 10 +105 6 2 6 8,128 6 7,571 16 0 3,032 14 . .. . 00 9 8 8,259 11 2 2,532 . 7 -500 . ". Corrected total 5 5 Library, museum and art gallery As in analysis . Alterations.. . Corrected total 82 - Law and Parliamentary, including gas and water 81 - 1,074 12- Corrected total 74 12 - 8,352 19 .,a Corrected total 6 6 1,724 8 Alterations Pensions to school 5 1 - +140 13 4 1 8,493 12 7 officers- As in analysis.. Alterations +131 . .. . . . Corrected total n~ul i +52 - 1,064 11 1,804 19 7 1,012 11 +52 - 79 1,856 19 i tsi 2 - 2 51 INDEX. PAGE1 Accounts, Chamberlain's, division and number of Administrative purposes, receipts and expenditure Admiral Duff's Legacy. . . ... .. .. .. .. .. .. .. .. 6-7, 14-5, 22-3, 30-1, 3 36-7, 50 xliv .. .. .. Aldermen. See "ICourt of Aldermen." Almshouses, expenditure in respect of .. .. .. expenditure in respect of, in each year since 1869 Analysis of accounts, plan of . . .. . .. .. . .. .. .. .. 3,3, 3t;-7 9, 17, 25, . .. .. 39 .. xxxiv Annuity to pay off debt on General Estates in 30 years and in 50 years .. . Artizans' Dwellings, loans raised by Commissioners of Sewers for, paid off, and outstanding at the end of 1892 .. Balances, estimate of proportion interest on .. belonging . .. ,. ., .. .. 44-5 .. to trust and rate accounts . of tbe several accounts at the end of each year reduction of, in each of the years 1889-92 .. Bathus' Bequest, amount paid in each of the years 1889-92 .. .. .. .. .. .. xliv xliv xxvii .. .. .. xvi xv xvi .. .. . ---------- Beiqests administered1 by Corporation Blackfriars Bridge, estates account .. .. .. 004 .. .. amount of balances accrued in 1889-92 and total balance at the end of 18... Ssurplus balances of made applicable to London Bridges generally under xxvii Unification. .. .. .. .. .. . xiii Bonds, City. See 'Debt." Borough Court, Southwark, expenditure in respect of .. .. .. .. 6, 14, 22, 30 Bridge House Estates, balances accrued in the years 1889-92 and total balance at the end of 1892. ... xxiv .. .. .. .. .. .. . . xxiv " bridges for which now available.. .. .. .. .. xxiv --details of revenue and expenditure in 1889-92 .. .. .. . xxiv origin and extension of . . .. . .. .. .. .. rents received in eacb year since 1869. .. .. . balances of, included in estimate of financial results of Unification xlii 44-5 .. . Bridges, loans raised, paid off, and outstanding at the end of 1892 Bridges, London, Southwark and Blackfriars, expenditure on in each of the years 18, 263 .. .. .. 2, 10, 18, 26 Bridge, Tower, expenditure on in each of the years 1889-92 2 Brokers' rents, receipts from in 1889. ... .. .. .. .. Burnham Beeches, expenditure on account of xxix .. .. .. .. surplus . 0 Capital expenditure on markets in 1889-92 .. .. Chamberlain's Accounts, division and number of .. .. . . .. .. .. .. estimated application of surplus revenue under Unification receipts and expenditure .. .. .. .. .. .. .. .. .. .. .. .. City expenditure classified .. .. .. .. .. .. .. City of London Court .. -amount invested or withdrawn Irom investment during 1889-92 --anount of invested balances at the end of 1892 .. .. .. .. .. .. .. City of London School, number and value of scholarships.. .. .. .. .. Classification. of annual expenditure Clerkenwell Improvement .. .. . .. .. .. .. .. .. .. .. .. xliv 14,22, 6, . .. 30 xxxvi-xxxvi .. .. xxxviii xxvii v xxvii xlii . .. .. .. xxii . . ... .. xxvi amount of surplus revenue in each of the four years 1889-92 .. .. xxvi amounts transferred to the Reserve Fund .. .. .. .. .. xxvi receipts and expenditure in each of the four years 1889-92 . 4, 12, 20, 28, 36-7 revenue from rents and from sale of land and premises in 1889-92 .. .. xxvi ----- -------Coal and Wine Duties, amounts transferredto collection cost of .. .. revenue from in 1889 and 1890 _____- Coal Duty .. .. .. amount of final balance Coal Market .. .. --- .. _____details o expenditure in revenue in 1889-92.. Valley Improvement in 1889-92 .. .. .. .. . .. .. .. . .. .. .. .. .. ... .. .. .. .. . . .. .. xxvii 3,11, 19, .. .. .. .. 2, 27 10 xxv .. .. .. .. .. .. .. .. xxvi .. .. .. xxvi xxvi .. 1889-92. . Commissioners of Sewers, loans raised for at the end of 1892.. Holborn .. .. .. .. .. .. xxvi ., . . . .. Artizans' Dwellings, paid off, and outstanding .. .. .. .. 44-5 .. .. .. .. 34-5 .. .. as .. receipts in aid of rates - .. rates raised and analysis of expenditure .. .. .. 35 .. .. ,.. xi .. 0. .. .. .. .. .. estimated transfers of services from, under Unifica tli (3026) 0 2 .. 52 INDEX. PAGE .. Common Council, expenditure by order of .. -- Pensions to widows of Freemen distributed by ---- Coroner, expenditure in respect of .. * .. .. .. .. .. .. ,. .. .. .. .. Xxix .. .. .. County rate. special, estimated levy on the City under Unification .. .. .. Court of Aldermen, expenditure by order of.. .. Pensions to widows of Freemen distributed by .. Court of Common Council. See "Common Council." Criminal Justice, expenditure xliii, 39 7, 15, 23, 31 .. XXXViii .. .. .. .. xul-xiv .. .. .. .. .. .. .. .. .. .. .. .. *. Coulsdon Common, expenditure on account of County expenditure classified .. . xlii xiii .. , .. .. .. .. .. .. .. xliii. 39 .. 6, 14, 22, 30 Debt, amount available for, from Deptford Cattle Market in ench of the years . 1889-92 - --- . . . . . . . . .xxi xxxii amount available from Grain Duty for, in respect of Parks and open spaces.. amount of, in respect of Parks and open spaces outstanding at the end of 1892.. .. .. .. .. .. .. .. - .. .. .. .. 44-5 46 .. .. .. .. .. amount outstanding against each security amounts paid in respect of Trust Funds in 1889-92 .. .. xxx xxxii, annuity to pay off total estimated debt on General Estates in 30 years and in .. .. .. xxxiv average rates of interest on bonds outstanding .. .. .. .. 46 charged on Market revenues .. .. .. .. xx 50 years ------- .. .. .. .. .. .. .. .. comparison of amount outstanding, and of the average rate of interest at the --- .. .. .. .. 46 .. .. .. .. estimate of contingent charge for on City's Estates in respect of Trust Funds.. xxxiv xxxiii estimate of total amount of falling on General xxxiv end of 1891 and at the end of 1892 .. .. deficit in General Estates after paying charge for - -- Estates... .. .. falling on general estates in respect of Parks and Open Spaces .. ,xxxiii falling on eneral estates in respect of the iolborn improvement .. xxxi incurred by Corporation for all purposes, the amount paid off up to 1892, and the amount then outstanding .. .. .. .. .. .. .. .. 42-5 Market, application of proceeds from sale of Farringdon Market to .. .. xxi Market, estimate of accumulation of, by 1907 .. .. . .. xxii Market, estimate of income from markets available for .. ... xxi Market, estimate of sufficiency or insufficiency of surplus rket revenue for xxii Valley . - -- -- ir(-venue Market, estimate of time to pay off, using surplus market Market, expenditure in respect of.. .. .. .. .. on Deptford Cattle Market outstanding at the end of 1892 .. outstanding against Trust Funds at the end of 1892 .. .. payments for in 1889-92 in respect of Deptford Cattle Market .. .. .. . .. , .. of repayment by Corporation .. .. .. .. .. xlv .. Unified, revenue from General Estates in each of the years 1889-92 to meet -- .. .. estinmatedl charge for Deficit in the four years, amount of . bow provided for .. .. Dpntford Cattle Market .. .. .. .. . .. .. .. .. .. .. .. .. .. .. debt secured directly upon.. .. . in rents .. .. .. .. particulars of revenues from .. .. payments in respect of Dwellings for the Poor -increase 3,11, 19, 27 .. . . . ---- -- 10 .., . .. . .. .. .. , 0 5, 13, .. .. xx . ,, .. , ... . xvi .. . , ,.. . ii i-i ., .. deficit in each of the years 1889-92 after paying charge for unified debt - xxxiv .. . cost of collection and management in each of the years 1889-92 , . .. .. debt secured collaterally upon -------- .. . .. . . .. . .. xxii xvii xxxiii, 44-5 xxxi-xxxiii .. xxx xxx .. , .. xxx .. xxx .. xxx 42-5 .. .. xx . xx .. .. .. payments for in 1889-92 in respect of Royal Exchange ----- payments in respect of, in 1889-92 for Hbom Valley Improvement,. .. - payments in respect of, in 1889-92 for Parks and open spaces payments in respect of, in 1889-92 for the Tower Bridge .. .. .. .. .. .. of interest oni bonds 1now outstanidinig - -rates .. .. .. secured directly upon the General Estates .. .. secured collaterally upon General Estates (directly on markets) ___-system , . x xxxiv xxxv xii 21, 29 53 INDEX. PAGE Estates, payments in respect of Parks and Open Spaces .. . rent, rates, and taxes in each of the four years 1889-92 rents received in each year since 1869 total amount of debt estimated to fall upon ---- where situate -- .. General, and funds, receipts ---- .. .. .. .. .. .. 5, 13, 21, 29 ,. .. .. 3, 11, 19, 27 .. 40 xxxiv .. .. .. .. , .. iv iv vi-vii .. .. .. .. .. .. .. .. , .. .. .. .. .. ,xiii-xiv xiii-xiv *. xxxvi-xxxvii comparison, giving details of increase in 1890, 1891, and 1892, as compared classification of --- wih1889 .. , . . . .. .. .. .. .. .. .. . . .. .. . differentiation of City and County - .. .. .. .. . .. . estimated revenue available for, after Unification ____- . . .. .. .. .. .. .. .. .. .. for County purposes, how met " . -.- .. .. - so xl .. of - - for services concurrent with those of the County Council xl ... of .. xxxix .. .. for services whose range of influence is beyond the City xii vi-vii, xxxvi .. xl .. .. xxxviii .. .. for County purposes, effect of transfer to the County Council.. iii .. .. .. . .. .. .. .. Exceptional .. for City purposes, how met -- 00 _ - .. .. net charges paid out of, under each head Exceptional expenditure in each of the years 1889-92 .. Expenditure by order of Common Council .. .. by order of Court of Aldermen .. .. .. .. .. .. .. - . .. . .. xxxix .. xxxvi xxxvii in respect of debt charged on General Estates .. .. .. met by receipts in aid - .. .. .. .. .. .. .. .. iv iv . vi-vii xliii 38-9 net, paid out of General Estates --- net, paid out of other receipts - .. .. .. .. .. .. .. special items of on behalf of the Freemen of the City .. ---- on remunerative undertakings in each of the years 1889-92 -ordinary, - -proportion umr f. for County services. . .. of . . - .. .. . .. - .. .. 6 .. .. .. .. .. .. .. .. .. .. .. .. .. ,.. .. .. .. "*. .. .. .. .. .. .. xxxvii .. . xxxix 3- . o -0 . .. .. .. . . .. Farringdon Market, application of proceeds of sale to repayment- of debt sale of ., .. .. .. .. .. .1 .. " xxi .. .. .. .. .. Xxi1 Foreign Cattle Market. See Deptford Cattle Market.' .. .. .. .. Freedom of City, fees received in each year since 1869 .. Freemen of the City, analysis of expenditure in respect of, and of revenue applied for the purpose since 1869 .. pensions to widows of .. .. .. .. .. .. .. .. .. .. .. ., Gas and Water Supply. See "1Law and Parliamentary." Grain Duty, amount of revenue in each of the years 1889-92 details of expenditure in 1889-92 . . statutory charges upon revenue . Gresham College, charged upon the Gresham Estates expenditure for in each of the years 1889-92 Gresham Estates, amount of bequests paid out of, in 1889-92 -- amount of revenue in 1889-92 . charges upon.. ------ . ... .. .. . 38 39 38 .. .. .. .. .. xxix xxix X%111 .. xxviii .. .. 3 ,11, 19, 27, 36-7 .. , , .. .. . .. .. .. . .. .40 -- xliv xxii xxii .. . .. . .. of expenditure in 1889-92 .. ----- insufficiency of revenue for charges upon.. rents received from in each year since 1869 . Guildhall and public buildings, expenditure.. ___-details .. .. .. . .. . 39 xliii, 38-9 xliii, 38-9 .. .. .. .. Freemen's Orphan School, analysis of expenditure since 1869 .. , grants by Corporation in aid of, in each year since 1869 Freemen's widows, total amount distributed to, in each year since 1869.. xxxvi . xxiii xxiii 8, 16, 24, 32, 50 Highgate and Kilburn Open Spaces, loans raised, paid off, and outstanding at the end of .. .. .. .. .. .. aolborn Valley Improvement .. .. .. .. amount and capital value of yearly rents amounts transferred from Coal and Wine Duties to in 1889-92 a------amount -- --- - .. .. .. .. .. .. .. .. .. .. .. xxvii xxviii xxxi xxxi, 42-3 ., of accumulated debt on in 1902, if the money to meet bonds falling .. .. .. due were re-borrowed at 3 per cent. expenditure for, paid out of Coal and Wine Duties .. r---payments in 1889-92 in respect of debt payments on account of, out of General Estates , --.. receipts from, and payments out of receipts Honorary Votes. .. .. xxvii xxxi .. transferred to in 1889 from "1Kew and other Bridges Joint Committee " .. assets at the end of 1892 .. bonds outstanding at the end of 1892 ---estimate .. .. See 11"Receptions and Honorary Votes." .. .. .. .. .. .. .. . .. .. .. xxxi 2, 10, 26 .. .. .. . .. .. xx 10, 18, 26 4, 12, 20, 28 54 INDEX. PAGE Interest, estimated loss of revenue from under Unification .. .. xlii .. estimate of proportion earned by balances of funds and of trust and rate accounts .. .. .. .. .. .. Justice and Police, receipts and expenditure.. .. xvi .. .. .. .. .. .. on cash balances, amount of in each of the years 1889-92 on Corporation Securities, amount of in each of the years 1889-92 ---.v-vi .. . r Investments .. ---- .. .. , xv xv 6-7, 14-5, 22-3, 30-1, 36-7 .. Kew and other Bridges Joint Committee, amount transferred to Holborn Valley Improvement from .. . ... *0 . .. .. .. xxviii ... .. 9,17, 25, 33, 50 Law and Parliamentary, expenditure in each of the years 1889-1892 Leadenhall Market Approaches and Avenues, expenditure in each of the years 1889-92 .. .. .. .. .. .. .. 2, 10, 18, 26, 36-7 .. .. 44-5 .. .. 8, 16, 24, 32, 36-7, 50 --- loans raised, paid off, and outstanding at the end of 1892 .. .. .. Library, Museum, and Art Gallery, expenditure Loans. See "1 Debt." Lunatic Asylums, loans raised and outstanding at the end of 1892 .. .. .. .. receipts and expenditure .. .. 44-5 .. .. 6, .. 14, 22, 30, 36-7 6-7, 14-5, 22-3, 30-1 . xvii .. .. 42-5 amount of loans raised, paid off, and outstanding at the end of 1892 Magistracy, receipts and expenditure .. .. .. Markets, aniount available for loans after other expenditure _ as .. capital expenditure on, in 1889-92 .. .. debt charged upon estimate of accumulated debt on in 1907.. - .. .. .. .. .. .. .. xx .. .. .. .. .. xxii estimate of income from which will be available to meet charges for debt in _ estimate of sufficiency or insufficiency of surplus revenue for debt estimate of time to pay off debt, using surplus revenue of .. .. .. xxi xxii .. .. xxii expenditure exclusive of loans expenditure in respect of loans future years ----- ---- .. .. .. .. .. .. .. O years 1889-92 .. .. .. as .. .. as and Civic purposes, expenditure ---- Mayoralty, expenditure -Mayor's Court, receipts and expenditure .. Metage, fruit, cost of collection -revenue .. .. .. .. .. .. .. .. at voluntary (grain) cost of collection - voluntary (grain), .. 6, 14, 22, 30 .. 3, 11, 19, 27 .. 2, 10, 18, 26 3, 11, 19, 27 2, 10, 18, 26 .. .. .. . . .. .. .. .. . .. Port of London, receipts and expenditure .. .. .. Property, sales of .. .. 9, 17, 25, 33, 36-7, 50 7, 15, 23, 31, 50 .. .. .. 9, 17, 25, 33, 36-7, 50 .. .. .. 4-5, 12-3, 20-1, 28-9, 36-7 7,14-5, 22-3, 30-1, 36-7 .. .. .. .. .. .. .. . .. to School officers, amount.. -.. Permanent works, receipts and expenditure .. e. .. Petroleum, receipts and expenditure .. .. .. Police, City, expenditure out of estates rates raised and expenditure out of rates .. .. receipts in aid of rates estimated transfer of under Unification .. .. 8, 16, 24, 32 9, 17, 25, 33, 50 .. .. o .. .. .. See " Law and Parliamentary." . - .. .. .. .. .. . Pensions to Civic officials, amount to officers of the Corporation, amount --- .. .. revenue from in each of the years 1889-92., Optional purposes, expenditure Parliamentary. .. as 00 o .. . 32, .. ,. from in each of the years 1889-92 .. Monument, receipts and expenditure.. 8, 16, 24, .. .. 8-9, 16-7, 24-5, 32x-3, 36-7, 50 .. .. - .0 45, 123, 20-1, 28-9 xvii, 4, 12, 20, 28, 36-7 xvii .. .. .. .. .. .. .. xvii xvii 00 and debt in each of the four .. .. .. .. .. .. .. .. receipts in each of the four years 1889-92 .. .. surplus revenue in each year . .. .. .. .. .. expenditure on works, rents, establishment, -- = xxii .. .. of --- .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 7,15, 23, 31 .. 31-5 .. 35 .. .. , xli 6, 14, 22, 30, 36-7 .. .. .. .. ii-ii 55 INDEX. PAGE Rating Authorities, revenue and expenditure Receipts in aid of expenditure in 1889-92 .. .. .. .. .. .. .. other than from estates and funds applied to meet expenditure -- .. summary of .. ____-- .,. .. ... Receptions and Honorary VTotes, expenditure .. Reformatories, .. expenditure .. .. .. from General Estates - from General Estates in each year since 1869 from Gresham Estates in each year since 1869 .. from Holborn Valley Improvement _-- -- .. 36-7 .. 9, 17, 25, 33, 50 .. .. 6, 14, 22, 30, 36-7 .. -- r- iv .. .. .. .. .. .. 4-5, 12-3, Rents from Bridge House Estates in each year since 1869.. .. .. ,xxxvii .. .. Remunerative undertakings, receipts and expenditure .. 34-5, 36-7 .. .. 20-1, 28-9, 36-7 .. 40 .. .. . xii .. .. .. .. .. .. .. .. .. .. .. .. 40 40 xxxi .. .. .. .. Reserve Fund, extent to which it has been used as a transfer account in these years .. .. .. .. r--extract from Mr. Hicks' Report relative to xviii xviii-xix .. .. .. .. .. xviii synopsis of amounts paid in and out since 1869.. .. .. " transfers from to " City's Cash" .. .. to, from Clerkenwell Improvement _____transfers .. .. Revenue from General Estates, particulars .. .. .. .. .. xviii .. .. payments into during the four years 1889-92 .. .. .. .. .. .. .. ii-iii xxvii xii .. .. Revenue, gross, from Real and Funded property and Dues and Duties in each of the years 1889-92 . . .. .. .. .. .. .. .. 2, 10, 18, 26 .. xxiii .. .. .. .. .. Royal Exchange, charged upon the Gresham Estates .. 3, 11, 19, 27, 36-7 .. expenditure on in each of the years 1889-92 .. ---.. 44-5 loans raised, paid off, and outstanding at the end of 1892 in respect of - payments in 1889-92 in respect of debt on .. -- _- receipts and expenditure .. .. .. .. xxx .. .. .. xxix .. .. .. .. .. 8, 16, .. .. 8, 16, 24, 32, 50 .. i, xxiii-xxix .. .. xxiii .. .. xxiii .. xxxi-xxxiii .. .. .. 00 .. Tower Bridge, payments in 1889-92 in respect of debt .. .. .. . Trust and Statutory funds balances of at the end of each year - .. ... 24,732, 36-7 .. . .. date of Trust or Statute ______ 1.0 .. 6, 14, 22, 30 xliv .. 9, 17, 25, 33, 36-7 .. .. .. .. .. .. .. .. .. .. Sheriffs, expenditure Scholarships attached to the City of London School .. .. .. Schools, pensions to officers .. State and Civic expenditure .. .. St. Paul's Churchyard, expenditure for, out of Grain Duty .. .. .. . .. . debt outstanding against, at the end of 1892.. estimate of contingent charge on the City's Estates in respect of debt on -- __- payments in 1889-92 in respect of debt .. 190 00 0 . Unification, complete, estimated financial effect of . estimated revenue available to meet expenditure partial, estimated financial effect of .. Wards, City, receipts and expenditure Ward's People's Recreation Ground .. Water supply. See "1Gasand Water Supply." Weights and measures, receipts and expenditure.. .. i .. " " "" .. .. .. . .. .. xxx .. G. . xxxiii . . .. .. .. xxx 9xli-xlii xlii ." xl 34-5, 36-7 . . xxix .. 6, 14, 22, 36-7 This book is a preservation facsimile produced for the University of Illinois, Urbana-Champaign. It is made in compliance with copyright law and produced on acid-free archival 60# book weight paper which meets the requirements of ANSI/NISO Z39.48-1992 (permanence of paper). Preservation facsimile printing and binding by Northern Micrographics Brookhaven Bindery La Crosse, Wisconsin 2010