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65
MORTGAGES, &C.
From 1856, the first year of the Metropolis Management Act,
1855, to 25th March, 1886, the parish of Fulham formed part of
the Fulham District, and was included in "Schedule B" of that
Act, for administrative and executive purposes, but in 1885 an act
entitled the Metropolis Management Amendment Act, 1885 (48
& 49 Vic., cap. 33), was passed, to take effect from 25th March,
1886, dissolving the District Board and incorporating the Vestry
of Fulham in Part II. of Schedule "A" of the Act of 1855.
During the year 1886-7 the property, claims, &c., of the late
Board were divided between the parishes in the ratio of 41.13 per
cent, to Fulham and 58.87 per cent. to Hammersmith.
The principal claims transferred are the mortgages on the
rates, of which loans amounting to £27,032 are chargeable on the
general rate, and repayable at various dates from 1 to 46 years,
with a commencing annual charge for principal and interest of
£4,438 4s. 3d. (about 3½d. in £ on assessment for 1886). This
sum is about £42 less for the first year than would have been the
case if the loans could have been more easily adjusted. The loans
chargeable on the Sewers Rate amount to £16,982 12s., repayable
at various periods in 17 years, with a .commencing annual charge
of £1,851 2s. 5d. (equal to a l½d. in £ rate), being less by nearly
£90 than its fair proportion of the late district sewer charges, and
brought about by the loans taken over by this parish having a
slightly longer duration than would have been the case if an
equitable adjustment could have been effected; therefore the loans
on the Sewer Rate exceed its share of the total by £191 6s. 6d.,
while the General Rate is £168 18s. 3d. short of its proportion,
consequently a transfer was made to the Sewers Rate of that
amount, thereby reducing its excess to £22 8s. 3d., which sum the
Hammersmith Vestry have paid this Vestry under order dated
23rd July, 1886, of the Secretary of State, Home Department.
The total amount due on mortgages as per the register at
25th March, 1886, was £44,014 12s. During the past year
£4,596 10s. 8d. principal has been repaid, and as no new loans
have been effected, the amount of indebtedness of the Vestry on
loans has been reduced to £39,418 1s. 4d., or the small amount of
11£ per cent, of the present ratable value.
AMOUNT TO BE RECEIVED FOR PROPERTY.
With regard to the property, &c., of the late Board,