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that even these low charges will enable a fair profit to be made, as the actual cost
of producing electricity is reckoned at 2d. per unit.
From the figures of Sir David Salomons, electricity at Gd. per unit is equivalent
to gas at 3s. 7d. per 1,000 cubic feet, but at 3d. per unit electricity is equal to
gas at 1s. 10d. per 1,000 cubic feet. As to the desirability of transferring the
Vestry's power to a company at a rent or for a lump payment, experience shows
that electricity can be supplied more cheaply by local authorities than private
companies, because the former can raise the necessary capital at 3¼ per cent., while
the latter can only obtain it with difficulty at 5 or 6 per cent.
OFFICIALS AND ORGANIZATION.
(1) ACCOUNTANTSHIP.
Soon after my appointment the question of the method of keeping the Vestry's
accounts came before the Vestry, owing to the omission of a liability from the
Rate Estimates, and I found it necessary to report that the system in vogue was
insufficient and unsatisfactory, as it constituted merely a record of receipts and
payments, without showing the current liabilities of the Vestry as required by the
Metropolis Local Management Act, 1855. The Vestry accordingly, on the 24th
March, 1891, appointed a Special Committee of five members (Messrs. Moffatt,
N. Moss, L.C.C., Wenborn, Kendell, and Law) to consider the system of keeping the
Vestry's accounts, and to report what alterations (if any) should be made in the
Accountant's Department.
On the 14th April, 1891, this Committee, owing to the conduct of the
Accountant, Mr. H. F. Jones, suspended its meeting, and at its next meeting
reported that the Committee had examined the books and considered they were
kept in a most unsatisfactory way, and that Mr. Jones was quite unsuited for the
position of Accountant. On the 10th April, 1891, the Officers' Committee, after
considering the Accountant's conduct before the Special Committee, and other
matters in connection with the defalcation of the Rate Collector of Kingsland and
Haggerston West Wards, suspended Mr. H. F. Jones from his office, and on the
14th April the Vestry considered these reports, and after hearing a letter from him,
resolved that the Accountant, Mr. H. F. Jones, be called on to resign forthwith,
and directed an Accountant to be advertised for, referring the matter to the Special
Committee to consider and report on the duties and emoluments of the office. On
the 21st April, Mr. H. F. Jones resigned his office, and the Rate Collectorship of
Kingsland and Haggerston Wards becoming vacant at this time, he was appointed,
in view of his long service under the Vestry, to the post of Rate Collector of that
Ward on the 19th May, 1891.
The Special Committee made the following report on the duties and
emoluments of the office of Accountant:—