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"that the precise amount required and the particular Securities "against which the advance shall be made shall be agreed informally "on each occasion with the Bank, and be notified officially to the "Bank without delay by warrant over the signature of two Lords.

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"We beg to inform you that your letter of the 20th instant was "laid before the Court of Directors at their meeting this day, and "that they agreed to advance during the ensuing Quarter such "amounts as may from time to time be required for the Public Ser"vice, at such rates of interest as may from time to time be agreed. "The Court further agreed to your proposal that the advances "should be made either on the credit of Ways and Means under the "authority of a Consolidated Fund Act, or Appropriation Act, or "on the security of Treasury Bills, according as may be arranged "at the time of each advance, and that the precise amount required "and the particular Securities against which the advance shall be "made shall be agreed informally on each occasion with the Bank, "and be notified officially to the Bank without delay by warrant "over the signature of two Lords.

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At a Court of Directors at the Bank on Thursday, the 21st December, 1922,

The following letter from the Chancellor of the Exchequer having been read

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"I beg to request that you will have the goodness to move your "Court to consent to advance during the ensuing quarter such

"amounts as may from time to time be required for the Public Service, at such rates of interest as may from time to time be agreed.

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"I propose that the advances should be made either on the credit "of Ways and Means under the authority of a Consolidated Fund "Act, or Appropriation Act, or on the security of Treasury Bills, "according as may be arranged at the time of each advance, and "that the precise amount required, and the particular Securities "against which the advance shall be made shall be agreed inform"ally on each occasion with the Bank, and be notified officially to "the Bank without delay by warrant over the signature of two "Lords.

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"We beg to inform you that your letter of the 15th instant was "laid before the Court of Directors at their Meeting this day, and "that they agreed to advance during the ensuing Quarter such "amounts as may from time to time be required for the Public "Service, at such rates of interest as may from time to time be "agreed.

The Court further agreed to your proposal that the advances "should be made either on the credit of Ways and Means under "the authority of a Consolidated Fund Act, or Appropriation Act "or on the security of Treasury Bills, according as may be arranged "at the time of each advance, and that the precise amount required "and the particular Securities against which the advance shall be "made shall be agreed informally on each occasion with the Bank, "and be notified officia ly to the Bank without delay by warrant "over the signature of two Lords.

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ACCOUNTS, 1922.

ACCOUNTS of the COMMISSIONERS OF CHURCH TEMPORALITIES IN WALES for the Year ended 31 December, 1922, and from 24 September, 1914, to 31 December, 1922, in respect of transactions under Acts 4 & 5 Geo. 5, c. 91, and 9 & 10 Geo, 5, c. 65, together with the REPORT of the COMPTROLLER AND AUDITOR GENERAL thereon.

(Presented pursuant to Act 4 & 5 Geo. 5, c. 91, s. 31.)

Ordered, by The House of Commons, to be Printed,
19 June, 1923.

LONDON:

PRINTED & PUBLISHED BY HIS MAJESTY'S STATIONERY OFFICE

To be purchased through any Bookseller or directly from H.M. STATIONERY OFFICE at the following addresses: Imperial House, Kingsway, London, W.C.2, and 28 Abingdon Street, London, S.W.1; York Street, Manchester;

1 St. Andrew's Crescent, Cardiff; or 120 George Street, Edinburgh.

1923 Price 3d. Net.

THE COMMISSIONERS OF CHURCH

STATEMENT OF RECEIPTS AND PAYMENTS ON ACCOUNT OF CAPITAL FOR THE YEAR ENDED

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To Balance, 1 January, 1922
H.M. Treasury—Advances from Civil Contingencies Fund-
(Repaid-see per contra.)
Treasury grant in aid of sum due to the Representative Body
of the Church in Wales by way of commutation under
Section 3 (2) of the Welsh Church (Temporalities) Act,
1919, paid to the Representative Body of the Church in
Wales (see per contra).

Cash received from the Governors of Queen Anne's Bounty
formerly vested in them and transferred under Section 5 (2)
of the Welsh Church Act, 1914.

Cash received from the Governors of Queen Anne's Bounty
and formerly held by them under the Dilapidations Act
now transferred under Section 5 (2) of the Welsh Church
Act, 1914,

...

Receipts on account of sales of Glebe Lands and Properties
under Section 27 of the Welsh Church Act, 1914.
Amount received for the redemption of mortgage, and
amount realized on sale of Stocks transferred by the
Ecclesiastical Commissioners and Queen Anne's Bounty
or held by the Commissioners under Section 26 of the
Welsh Church Act, 1914

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Amounts received by way of purchase for

the redemption of tithe

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1,131 9 2

Sums received by way of Mineral Rents, Royalties, and
Wayleaves, and apportioned to Capital

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773 18 5

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Sum transferred from Revenue Account to Sinking Fund
for Redemption of Capital expended, and accumulated
dividends thereon re-invested
National Debt Commissioners (Loan) under Section 30 (1)
(2) of the Welsh Church Act, 1914*

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3,656,631 11

2

2,542,597 9 9

This loan is repayable to the National Debt Commissioners by means of an annuity of £160,834, payable half-yearly, the first payment (£80,417) being due on 20 August, 1925. During the first three years of the loan, interest only, at 5 per cent. per annum, is payable.

TEMPORALITIES IN WALES.

31 DECEMBER, 1922, AND FOR THE PERIOD 24 SEPTEMBER, 1914, TO 31 DECEMBER, 1922.

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PAYMENTS.

H.M. Treasury-Repayment of Advances from Civil Contin-
gencies Fund.

Payments to the Representative Body of the Church in
Wales under Section 3 (2) of the Welsh Church (Tem-
poralities) Act, 1919, and Section 18 (b) of the Welsh
Church Act, 1914 :-

Treasury grant in aid of sum due by way of commutation.
Amount realized by sale of Stocks at middle market price
on 1 December, 1920.

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Payments. 1 January to 31 December, 1922.

£ s. d.

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2,287,000
13,252

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Value of Properties transferred under Section 18 (b)...
Compensation to Lay Patrons under Section 16 of the Welsh
Church Act, 1914
Queen Anne's Bounty (Dilapidations) Act Allowances for
repairs undertaken before the date of disestablishment
Balance, being excess of Receipts over Payments. See
summarized Statement of Balances (including Invest-
ments) ...

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69,109 15 8

36 17 6

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3,656,631 11 2

2,542,597 9 9

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