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107
the general law of supply and demand; and expressed his regret
that the local authority was unable to enter into competition with
them in providing municipal dwellings for the artisan and labouring
classes, at rentals sufficient to cover interest on loans and maintenance
charges after putting aside a proper sinking fund for depreciation.
In conclusion he suggested, as an outcome of the reference,
the expediency of making a new street from Peacock Street through
into Newington Butts, thus cutting through and removing several
insanitary courts and enabling the London County Council and the
Vestry to acquire land on either side suitable for the erection of
dwellings. This would doubtless be an expensive scheme, but
having been suggested by the Council would probably be assisted
by it, both by contribution and sanction of loans. The Clerk's
report was ordered to be printed and circulated amongst the
members of the Vestry, copies also to be sent to the London County
Council, the Vestries and District Boards of the metropolis and the
local press.
Finance and Audit Committee. — The duties of this
Committee are:—To examine and check all contractors' and tradesmen's
accounts ; to meet the precepts of the various bodies making
demands upon the General Rates of the parish; to watch over the
funds of the Vestry ; to audit the accounts of the Vestry and report
the result quarterly ; to settle the annual demand to be made upon
the Rating Authority ; and to advise the Vestry from time to time
of cheques required to meet payments due.
Overdrawing Treasurer's Account.—The Vestry on the 3rd April
1895 passed a resolution requesting the Treasurer to allow the
account to be overdrawn until 31st May (when the first payment
from the rating authority under the new precept would fall due),
charging usual rate of interest on the overdraft. Another similar
resolution was passed on the 24th July, asking for an extension of
time till Michaelmas, to enable the quarterly accounts and other
payments to be met as usual. At this time the overdraft amounted
to about £3,500. Upon the expiration of this period a letter was
received from the Treasurer upon the subject, with the result that