The Sun.
London, England, 1849-06-26 00:00:00

FINANCIAL POSITION OF THE

CORPORATION OF LONDON.

The following account of the receipt and expenditure
of the Corporation of the city of London will be read
with interest, it being a draft of the auditors' report
for 1849:

" We, whose names are hereunto subscribed, elected
by the Livery of London in Common-hall assembled, on
the 24th of June, 1847, and the 24th of June, 1848,
auditors of the Chamberlain's account of the Corpora-
tion and Gresham funds, and of the Bridge-house estates,
do report as follows:—That the report of the receipt and
expenditure of the Corporation of the city of London
laid before us to audit was the fourth account of Mr.
Anthony Brown, Chamberlain of the city of London,
from the Ist of January to the 31st of December (both
inclusive), which account we have carefully and
thoroughly examined in detail, and find that the balance
of cash on the preceding acc,,unt was 26.4901. 15s. 7;td.;
that the receipts of the year 1847 were 172,560/. 12s. 40.;
that the expenditure of the said year, as appeared by the
several vouchers laid before us by the Chamberlain,
amounted to the sum of 179,8911. 6s. 100. (including
2,2651. 2s. 10d. applied in the purchase of securities,
and 4,8001 in the discharge of debt, leaving a
balance of cash upon the account of the 31st of De-
cember, 1847, of 19,160!. Is. lid. A brief statement
of the several heads of receipt and expenditure we
hereunto append. In the further prosecution of the
examination referred to us, we find that certain debts,
arrears of rent due, and interests on Government secu-
rities, were due and belonging to the Mayor and com-
monalty and citizens, on the 31st of December, 1847 ;
and that they were at the same time answerable for
debts, claims for interest, charge in respect of public im-
provements, pensions, police, &c. We have, therefore,
directed a balanced statement of such assets and liabili-

ties to be annexed, by which it will be seen that there
was at that period a cash balance in favour of the Cor-
poration of 90,770/. 14s. 60., after providing for all
claims and demands, without including the value of the
freehold and leasehold estate of the Corporation. The
Gresham account laid before us to audit was tho fourth
account of Mr. Anthony Brown, Chamberlain, being the
produce and expenditure of the City's moiety of the
estate hid under the will of Sir Thomas Gresham,
Knight, from the 10ih of OetobEr, 1847, to the 10th of
Oituber,lB4B, which we also examined, and find that the
balance of cash due to the Chamberlain at the commence-
ment of the account was 8731. 3s. 01d. ; that the ex-
penditure for the said period was 5,908/. 3s. ()id. ; that
the receipts for the same period was 4,8071. 18s. 11d.,
leaving a balance of cash due to the Chamberlain, on the
account ending the 10th day of October, 1848, of
1,9731 7s. ltd. We further find that the City's moiety
of the estate was indebted at Michaelmas, 1848, in the
sum of 85,0001. borrowed towards rebuilding the Royal
Exchange after its destruction by fire in the year 1838,
and that it was also indebted to the Corporation 20,0001.
remaining of the sum advanced towards rebuilding the
Exchange after the fire of 1666, and a further sum of
1,6621. 10s. advanced in 1847. The account of the Bridge-
house estates, laid before us to audit, was the account of
Joseph Watson and David Gibbs, the Bridgemasters or
Wardens, from the Ist of January to the 31st of De-
cember, 1847, which we have also carefully examined,
and find that the balance of cash in hand on the 31st of
December, 1846, was 8141. 6s. lid.; that the rents of
the said estate, and other receipts of the year 1847, were
31,8151. 3s. 1 lid.; that the disbursements during the
said year (including the sum of 26,0391. 15s• paid under
the Acts 7th George IV. c. 40, and 4th William IV., c.
118), in respect of rebuilding London-bridge and re-
pairing Blackfriars-bridge, amounted to 32,465/. ls. 11d.,
leaving a balance in hand on the 31st of December,
1847, of 1641. Bs. 1 ltd. In addition to the said balance
of cash in hand we found that there were rents due to
the account on the 31st of December, 1847, amounting
to 12,6701. 12s. Sid., and a dividend amounting to 3/.
9s. 6.1.; also cash, stock, and securities, standing to the
credit of the Bridge louse estates account, as under-
mentioned—namely, 2,311/. 14s. 3d. Consols, in the name
of the Accountant-General of the Court of Chancery,
8001. Exchequer-bills, in the hands of the said Accoun-
tant-Gen. rat, upon which he had 581.25. 3d. for interest;
also 231/. 17s. sd. Reduced Three per Cent. Annuities
in the names of the bridgemasters. We, the auditors,
in concluding this our report, desire to bear testimony to
the clearness and accuracy with which the accounts laid
before us are made out tor our examination, and to the
attention displayed by the official gentlemen who attend
us in the discharge of our duties.
(Signed) ‘• JAMES MADDEN,
"LUCAS HOUGHTON.
"J. G. DUNN.
" WILLIAM WALLIS.
" Guildhall, June 21, 1849.