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estimated cost of the Building, which sum was accord in gly
advanced by the Metropolitan Board on the terms above
mentioned. The sum of £1,100, the balance of the £11,000, was
advanced (with the sanction of the Metropolitan Board of
Works) by the Provident Clerks' Mutual Life Assurance
Association, at £4 15s. per cent., repayable by equal annual
instalments extending over 30 years.
The Building is rapidly approaching completion, and,
altheugh no unforeseen difficulties have been cncountercd, it
is not improbable that the total cost will fall little short of
£12,000. If this sum be not exceeded, and the remainder bo
borrowed on the same terms and conditions as the £1,100,
the total principal money will be repaid by annual sums of
£250 for the next 30 years, and of £180 for the 25 years
then next ensuing, and the interest payable will at the outset
be £488, but this sum will of course diminish year by year,
as the principal is paid off.
So rapid has been the increase in wealth and importance
of the Lewisham District within the last few years, that,
assuming the estimates to prove correct, the annual payments
will only involve a yearly charge to each ratepayer of something
less than ½d. in the £ on the value of his rated
property; thus a parishioner paying rates on £100 rateable
value will only be called upon to pay 3s. as his annual condition
towaids the new Building, and so in proportion;
and to the great majority of the inhabitants, who arc rated
be less than 9d. a year.
The Board therefore submit that the erection of so noble
a building in the midst of this district, admirably adapted for
various public purposes and involving so trifling a sacrifice on
the part of the inhabitants, is a subject for unqualified
congratulation
SEWERAGE AND DRAINAGE
Reference was made in the Board's last Report to the sum
receivable under the Beckenham Sewerage Act, 1873, and to