View report page

192
Annual Report of the London County Council, 1911.
is estimated at £255,435, and the aggregate housing value as mainly represented by cash received from
Dwellings Companies is £131,007, the difference of £124,428 being charged against the accounts of the
improvements. The aggregate commercial value on the same basis of sites acquired or appropriated
by the Council is estimated at £416,277, and the housing value charged to Dwellings accounts at
£108,213 the difference of £308,064 being charged against the accounts of the improvements.
Financial Results of all Dwellings and Estates to 31 st March, 1912.

These results are arrived at after (a) charging interest on capital outlay, (b) making full prevision
for repairs and renewals, and (c) setting aside a sinking fund sufficient to replace the capital
outlay on land and buildings and estates in course of development within a period of 60 years. The
accumulations of the sinking fund on 31st March, 1912, amounted to £201.828 19s. 2d. (exclusive of
£13,684 16s. 3d., proceeds of sales).
Accommoda
tion.
Housing Statistics—Memorandum by the Housing Manager (Mr. S. G. Burgess).
The new buildings completed and opened between 1st April, 1911, and 31st March, 1912,
comprise 325 cottages, providing accommodation for 2,280 persons. 7 cubicles and 10 sheds were
also provided. Up to 31st March, 1912, a total of 6,428 tenements in block dwellings, and 2,844
cottages, or a total of 9,272 lettings, containing 26,291 rooms; and 1,856 cubicles in lodging houses,
affording accommodation altogether for 54,141 persons, had been provided and opened by the
Council. The gross rent receivable for the year 1910-11 was £202,986 0s. 0d., and for the year
1911-12, £215,294 0s. 0d., being an increase of £12,308 0s. 0d.
Financial
results.
The financial result of the year's working of all dwellings in occupation, alter providing for
interest and sinking fund charges on the capital expended, is a surplus of £7,699 0s. 8d., which,
after adding interest on cash balances (£663 14s. 4d.) gives a total net surplus of £8,332 15s. 0d., or
3.87 per cent, of £215,294 0s. 0d., the gross rent receivable for the year. The interest and
sinking fund charges amount to 50.90 per cent. of the gross rental. The sinking fund, which will
redeem the capital expended on land and buildings within a period of 60 years, has been increased
during the year by £25,638 5s. Id., and the total sum now set aside in this fund in respect of
dwellings in occupation amounts to £192,276 0s. l0d. The expenditure for the management of the
estates, including repairs, rates and taxes, water, lighting, etc., amounts to 36.93 per cent, of the
gross rental. During the year the sum of £19,964 has been transferred to the repairs and
renewals account, the unspent accumulations on which, with the interest earned during the year
(£1,919 5s. 4d.), now amount to £61,850 3s. 4d. The total addition to the fund was 9*97 of
the gross rental.
Empties;
transfers ;
rents
irrecoverable,
&c.
The loss of rent by empties (including the amounts lost at the opening of the new buildings
—325 lettings) is equivalent to 7.73 per cent. of the gross rental.
During the year 3,026 tenants left the dwellings. This is equivalent to 32.63 per cent. of the
total number of tenements, as compared with 35.0 per cent in 1910-11. Of the 3,026 tenants
who removed, 327 tenants, or 10.8 per cent. of the number, were given notice to quit by the
Council, either for non-payment of rent, disorderly conduct, or some other cause. The remaining
2,699 tenants or 89.2 per cent., gave notice to the council and left to suit their own convenience.
A total of 6,223 applications for accommodation on the Council's estates (excluding
lodging houses) were dealt with, and 681 transfers were effected. These transfers are sometimes
to a different estate, owing to the tenant having changed his place of work, and sometimes to a
larger or smaller tenement on the same estate, owing to the increase or decrease of the tenant's
family. Of the 6,223 applications received, 3,350 or 538 per cent. were suited with accommodation.
A number of tenants who removed from the dwellings were in arrear with their rent, and
left without paying the amounts owing. Every effort has been made to recover these arrears on