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119
of the Treasurer's and the Bankers' security in respect of the
Poor Rate and the General Rates respectively, the question
having been provisionally reported upon in connection with the
conversion of the stock from 3 to 2¾ per cent. The security
given by Mr. Joseph Crosthwaite upon his appointment as
Treasurer in June, 1880, was £10,000 in Consols in respect of the
Poor Rate; the London and County Bank at the same time
being appointed Treasurer in respect of the District Rates, and
giving security to the Churchwardens and others on behalf of
the Vestries in the sum of £5,000 in Consols. The District
Board in March, 1878, appointed the London and County
Bank, Treasurer, on the Bank investing £5,000 in the name of
the Board in their corporate capacity, by way of security. The
total investment was thus £20,000.
The Committee recommend that under the altered constitution
of the Vestry Mr. Crosthwaite, as Treasurer of the
Poor Rate, give security in the sum of £10,000, and the
London and County Banking Company, Limited, as Treasurer
of the District Rates, give security in a like sum of
£10,000, both amounts to be invested in Consolidated 2¾
per Cent. Stock in the name of the Vestry in their corporate
capacity, and the stock receipts to be deposited
in the inner safe in the strong room as the Bye-law
No. 44 directs.
5d. Resolved—That the acts, proceedings, and recommendation
of the Finance Committee as now submitted in paragraph
No. 4 of their report be and they are hereby approved and
adopted; that Mr. Crosthwaite, as Treasurer of the Poor Rate,
give security in the sum of £10,000, and the London and County
Banking Company, Limited, as Treasurer of the General Rates,
gives security in a like sum of £10,000, both amounts to be
invested in Consolidated 2¾ per cent. Stock in the name of
the Vestry in their corporate capacity, and the stock receipts
to be deposited in the inner safe in the strong room as the
Bye-law No. 44 directs; and that the affixing of the Common
Seal to the "Form of Bequest" when received be hereby
authorised.
At the Vestry Meeting on the 14th November 1888.
Report of Finance Committee.
4. In connection with the adjustment of the Treasurer's security
to meet the altered constitution of the Vestry, the Committee
find that it will be necessary to obtain the transfer of the sum
of £15,126 l1s. 8d., 2¾ per Cent. Stock, now standing in the
names of Messrs. W. Sugg, J. Harris, W. McKewan, and the
late Mr. Stewart Helder, to the Vestry in its corporate capacity,