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5
Loans.
The total indebtedness of the Board on the Loan account
at the 25th March, 1893, was £62,082 11s. 4d.
During the year the Board paid the sum of £5,538
in reduction of the mortgages owing by them, and raised the
sum of £8,700 for Surface Drainage Works, the new Depôt
at Lewisham, and for sundry other permanent improvement
works.
The following statement of the loan debt shows the
changes made in the same in the six years ended 25th March,
1898, and the amount Outstanding at the end of each financial
year in that period.
The amount outstanding at Lady-day, 1887, was
£53,737.
Year
Amount
paid off
during the
year.
New Loans
raised.
Net
reduction.
Net
increase.
Amount
outstanding
at the end of
the year.
£
£
£
£
£
1887—8
6,177
4,847
1,330
• • •
52,407
1888—9
5,349
6,825
...
1,476
53,883
1889—90
5,768
2,300
3,408
• • •
50,415
1890—91
5,527
9,000
• • •
3,473
53,888
1891—2
5,868
10,900
• • •
5,032
58,920
1892—3
5,537
8,700
• • •
3,163
62,083*
Net Increase in the total Debt, £8,346.
* This increased amount of loan debt includes the outstanding
balance of the special loan of £10,900 taken up to meet the
Board's contribution to the purchase of the Lewisham Recreation
Grounds.
The following statement indicates the amount borrowed
in each period of ten years from 1850 to 1880, and
the rate at which the different loans were obtained. From
1850 to 1800 the sum raised was £32,223, at £5 per cent.