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66

“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.

.I

am,

“Yours very faithfully, (Signed)

“ R. S. HORNE. “ The Governor and Deputy Governor,

- Bank of England,

“Threadneedle Street, E.C." The Court agreed thereto.

“Bank of England,

“ 28th September, 1922. “ Sir,

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

“ We are, Sir,

“ Your obedient Servants, (Signed) “M. NORMAN,

Governor. (Signed) “H. A. TROTTER,

" Deputy Governor. “ The Right Honourable “ The Chancellor of the Exchequer, “ Treasury Chambers,

Whitehall, S.W.1."

66

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

Treasury Chambers,
- Whitehall,

“ 15th December, 1922. 6. GENTLEMEN,

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

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"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.

"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 A ppropriation 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.

I
am,

“Yours very faithfully,
(Signed) “ STANLEY BALDWIN.

win “ The Governor and Deputy Governor,

“ Bank of England.” The Court agreed thereto.

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" Bank of England,

“ 21st December, 1922.

66 Sir,

66 We

e 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 “amouts 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 requireil " 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.

- We are, Sir,

“ Your obedient Servants,
(Signed) “M. NORMAN,

Governor.
(Signed) “H. A. TROTTER,

Deputy Gorernor. “ The Right Honourable The Chancellor of the Exchequer, " Treasury Chambers, Whitehall, S.W.1."

H. WILSON,

Secretary. BANK OF ENGLAND,

20th February, 1923.
(40999) Wt. 29145-2260 625 3/23 11. St. G. 17

ACCOUNTS, 1922.

ACCOUNTS of the COMMISSIONERS OF CHURCH TEMPOR

ALITIES 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

8

8. d.

...

Total Receipts from 24 September,

Receipts. 1914, to 31 Decem

1 January to 31 ber, 1922. RECEIPTS

December, 1922. £

£

d. To Balance, 1 January, 1922

91,567 9

8 H.M. Treasury-Advances from Civil Contingencies Fund24,000

(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 1,000,000

Wales (see per contra).
Cash received from the Governors of Queen Anne's Bounty

formerly vested in them and transferred under Section 5 (2) 21,168 4 10 of the Welsh Church Act, 1914.

Cash received from the Governors of Queen Anne's Bounty

and formerly held by them under the Dilapidations dct

now transferred under Section 5 (2) of the Welsh Church 503 6 6 Act, 1914.

Receipts on account of sales of Glebe Lands and Properties 105,282 9 9 under Section 27 of the Welsh Church Act, 1914.

66,224 13 10 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 72,896 11 3 Welsh Church Act, 1914

271 - 7 Amounts received by way of purchase for the redemption of tithe

£ d. 73,424 7 11 In full ...

29,456 18 5 1,081 8 1 By way of Annuities ...

659 15 2

30,116 13 7 Sums received by way of Mineral Rents, Royalties, and 1,131 9 2 Wayleaves, and apportioned to Capital

773 18 5 Sum transferred from Revenue Account to Sinking Fund for Redemption of Capital expended, and accumulated

3,500 7,143 13 8 dividends thereon re-invested

143 13 8 National Debt Commissioners (Loan) under Section 30 (1) 2,350,000 (2) of the Welsh Church Act, 1914*

2,350,000

8.

...

...

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...

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...

3,656,631 11 2

2,542,597 99

This loan is repayable to the National Debt Commissioners by meaus 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 54 per cent. per annum, is payable.

TEMPORALITIES IN WALES.

31 DECEMBER, 1922, AND FOR THE PERIOD 24 September, 1914, to 31 DECEMBER, 1922.

8. d.

Total Payments from 24 September,

Payments. 1914, to 31 Decem

1 January to 31 ber, 1922. PAYMENTS.

December, 1922. £

£ 8. d. H.M. Treasury-Repayment of Advances from Civil Contin24,000

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 (1) of the Welsh

Church Act, 1914 :1,000,000

Treasury grant in aid of sum due by way of commutation. 74,729 11 5 Amount realized by sale of Stocks at middle market price

on 1 December, 1920. 2,297,000 Cash payments.

2,287,000 13,252 Value of Properties transferred under Section 18 (6)...

13,252 Compensation to Lay Patrons under Section 16 of the Welsh 74,371 15 8 Church Act, 1914

69,109 15 8. Queen Anne's Bounty (Dilapidations) Act Allowances for 79 ñ 6 repairs undertaken before the date of disestablishment ... 36 17 6

Balance, being excess of Receipts over Payments. See

summarized Statement of Balances (including Invest173,198 16 7 ments) ...

173,198 16 7

3,656,631 11 2

2,542,597 99

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