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244
Annual Report of the London County Council, 1913.
Companies is £131,007 (page lix.) 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 (page lix.) the difference of £308,064 being charged against the accounts of the improvements.
Financial Results of all Dwellings, and Estates to 31 st March, 1914.
The total financial results on all dwellings and estates from April, 1894 (the date of the opening
of the first block) to the 31st March, 1914, apart from contributions from or to rates, are as follows—
Dwellings—
Housing of the Working Classes Act, 1890— £ s. d.
Part I. surplus 47,816 - 9
Part II. surplus 3,944 18 11
Part III. deficiency 20,751 19 3
surplus 31,009 - 5
Estates in course of development deficiency 80,687 7 1
Total under Housing Act deficiency 49,678 6 8
Dwellings—
Improvement Acts surplus 15,880 15 4
Net aggregate deficiency 33,797 11 4
Contributions from Tramways Account 1,216 5 11
Net contributions from Rates 32,581 5 5
Details on page lvii £33,797 11 4
(The net aggregate deficiency at 31st March, 1913, was £49,674 15s. 10d.)
These results are arrived at after (a) charging interest on capital outlay, (b) making full provision
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, 1914, amounted to £256,284 13s. 5d. (including
£17,814 16s. 3d. proceeds of sales).