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10
pensions will be appointed on the recommendation of the Charity
Trustees of this parish, the other half will be appointed by the
Drapers' Company. So much of the present site as is not required
for improvement purposes will be let by the Company on building
lease, and the rent obtainable will be applied to the Pension Fund.
To make up the Pension Fund to £240 per year the Vestry is to
pay into Consols such a sum as will afford dividends which, when added
to the rent obtainable, will provide that sum of £240; but at first
the sum of £3,000 is to be invested to await the final adjustment
after the property has been let. It is estimated that the total cost
of widening and paving the widened portions of the thoroughfares
will be £3,000, but that will depend upon the amount of rent that
will be obtained. The Metropolitan Board has agreed to contribute
one-half, such contribution not to exceed £2,000.
NEW WORKS.
The Vestry applied for and obtained a loan of £12,000 from
the Metropolitan Board for carriageway paving purposes, and
towards effecting the Harwar Street Improvement. It was taken
up for fifteen years, in two instalments of £6,000 each, on the 1st
of April, and the 1st of July, at £3 15s. It was based upon
the following estimate—
St. John's Road, Carriageway (new) 4470 0 0
Provost Street 2105 5 6
Harwar Street (exclusive of
Improvement) 2300 0 0
Scrutton Street 900 0 0
Relay of Old Stone 865 0 0
£10,646 5 6
The stale of the Vestry's indebtedness in respect to loans will
be seen on reference to the table in this report.