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206
Hitherto, the proceeds of Local Bonds have been used solely for loans to
metropolitan borough councils for the purposes of their schemes under the Act of
1919. It is proposed to use the additional money now available for other housing
purposes, viz., advances under Section 92 of the Housing Act, 1925. The accounts
relating to Local Bonds have accordingly been removed from their former position
as a part of the accounts of the 1919 Scheme and now show as a separate section;
the net charge arising is transferred thence to the appropriate accounts.

(a)Including £1,260,857 7s. 6d., £121,503 17s. 9d. and £128.116 15s. 10d.. respectively, balance outstanding of
deferred charges (expenses of issue, including discount) in respect of Local Bonds for Housing and London County
Stocks and Bonds.
With the exception of the non-assisted clearance schemes, the debt in respect of
which is provided for on the instalment system, provision for redemption is made
on the cumulative annuity system.
Assistance to Private Enterprise, etc.—Advances on Loan.
A statement appended to the accounts shows the extent of the Council's
assistance by way of loans to builders and other persons, both under section
92 of the Housing Act, 1925, and under the Small Dwellings Acquisition Acts.
Expansion of
Council's
Housing
Activities.
Housing Estates.—Memorandum by the Valuer (Mr. Frank Hunt).
As has been the case in each year since the war, the volume of work connected
with the administration of the Council's dwellings has during 1925-26 shown a continuous
increase. This is the natural consequence of the expansion of the Council's
housing activities, including the acquisition of land and the clearance of slum areas,
caused by the housing legislation passed in recent years.
New
dwellings
provided
during the
year.
At the end of March, 1925, 9,638 dwellings had been erected under Assisted
Schemes in accordance with the provisions of the Housing Acts of 1919, 1923 and
1924. During the year 1925-26, 2,350 additional dwellings were provided, 46 of
which were erected under the Act of 1919, 1,396 under the Act of 1923 and 908
under the Act of 1924. The total number of dwellings completed and brought
into charge under Assisted Schemes at the end of March, 1926, was thus 11,988.
Of the houses erected on the various estates during the year, 1,564 are situated at
Becontree, 38 on the White Hart Lane Estate, 39 at Roehampton, 108 at East
Hill, Wandsworth, 562 on the Downham Estate and 39 on the Whitmore Estate,
Shoreditch. The dwellings on the East Hill Estate and Whitmore Estate are fiats
in block dwellings, while all the others are cottages or cottage-flats. The dwellings,
almost all of them erected before 1914 under Non-Assisted schemes, numbered
9,993, so that the actual number of dwellings in charge at the end of the year under
review was 21,981 or more than double the number before the War.