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191
Housing of the Working Classes—Accounts.
Appendix XVIII. shows the estimated commercial value and housing value in respect of all
sites utilised for the erection of working class dwellings under Parts I. and II. of the Act, whether
the dwellings have been erected by Dwellings Companies or by the Council. As regards sites sold
to Dwellings Companies, the aggregate commercial value at the time of disposal is estimated at
£472,100, and the aggregate housing value as represented by cash received from Dwellings Companies
is £198,915, the difference of £273,185 being charged against the clearance schemes. The aggregate
commercial value on the same basis of sites acquired or appropriated by the Council is estimated at
£465,803, and the housing value charged to dwellings accounts to £163,361, the difference of £302,442
beiner charged against the clearance schemes.
The statement on page xlix. shows the capital expenditure on the clearance of insanitary areas
under Parts I. and II. of the Housing of the Working Classes Act, 1890, as distinct from the expenditure
on dwellings. The net capital expenditure to 31st March, 1912, under both parts of the
Act for clearance schemes, amounted to £2,515,937 17s. 5d. The capital expenditure during the year
1911-12. amounted to £2.422 11s. 1d.
Capital
Expenditure
on Clearance
Schemes.
Dwellings under Improvement Acts.
These dwellings were erected in pursuance of statutory obligations to provide rehousing
accommodation for persons displaced by improvements, etc., under various Acts of Parliament.
Certain dwellings were erected on sites on which, owing to their character or situation, an unfavourable
financial result was from the first anticipated: these are shown under a separate head.
The result of the year's working of Dwellings under Improvement Acts is a net surplus
of £2,859 18s. 9d., as compared with £2,551 19s. l1d., in 1910-11. :
The gross rental for the year from dwellings was £56,256 12s. 8d. Deducting therefrom ;
allowances for empties, caretakers' quarters, and amounts irrecoverable, the net rental amounted to
£52,863 19s. lid., exclusive of £183 6s. 1d. for interest on cash balances. The amount of rent
irrecoverable was £72 17s. l1d., or only 013 per cent. of the gross rental. The total loss of income
due to "empties" was £2,753 3s. 1d., or 4.89 per cent. of the gross rental, as against 5.19 per cent.
in 1910-11. The greater part of this loss occurred on three estates, viz.: Hughes Fields Dwellings
(£199, or 31.07 per cent, of gross rental), Brightlingsea Buildings (£220, or 20.21 per cent.), and Swanlane
Dwellings (£952, or 23.05 per cant.), which account for £1,371. On two other dwellings the
loss from empties was more than 10 per cent. of the cross rental.
Results of
year.
Income.

Expenditure
The amount standing to the credit of this fund on 31st March, 1912, was £19,880 16s. 7d., of
which £19,103 4s. 2d. was invested. The credits to this fund during the year exceeded the
expenditure thereout by £438 8s. 9d.
Repairs and
Renewals
Fund.
The total expenditure on capital account up to the 31st March, 1912, in respect of Dwellings
under Improvement Acts amounted to £743,306 0s. 2d. The Summary of Financial Results shows
the apportionment of this figure as between land and buildings. The capital receipts exceeded
the expenditure during the year 1911-12 by £340 0s. 4d.
Capital
expenditure
on Dwellings.
The practice with regard to the charge to the capital account of the dwellings in respect of the
value of the site is the same as for dwellings erected to rehouse persons displaced by clearance schemes
under Parts I. and II. of the Housing Act.
Appendix XVIII. shows the estimated commercial value and housing value in respect
of all sites utilised for the erection of working class dwellings under Improvement Acts, whether
the dwellings have been erected by Dwellings Companies or by the Council. As regards
sites sold to Dwellings Companies, the aggregate commercial value at the time of disposal