"VERY SATISFACTORY."

Auckland Star, Volume LX, Issue 90, 17 April 1929, Page 10

"VERY SATISFACTORY."

HARBOUR FINANCES.

SURPLUS REVENUE OF £3827

INCREASE IN EXPORTS

Largely owing to the steady increase in exports from the province, the finances of the Auckland Harbour Board are in a very satisfactory position, and show a surplus of assets over liabilities of £2,340,ti11. The general surplus for the year's operations ended September 30 last Wijis £3827.

Information to this effect was retailed fo members of the hoard yesterday afternoon hy the chairman (Mr. H. R. Mackenzie) in presenting his annual report. "The hoard's assets amounted to £5,204,780, and its liabilities to £2,924,1(19, showing a surplus of £2,340, 611," sai<l Mr. Mackenzie. j Loss on the Manukau. ■ "Tile gross revenue, Waitemata Harbour, amounted to £1580,454, and the expenditure to £333,027, leaving a gross surplus of £40,827. Appropriations to sinking funds and reserves totalled £40,288, making the net surplus £0540. This was still further reduced, however, by the loss on the working of Manukau Harbour to £3827. This surplus is not as great as in previous years, but, in view of the fact that the country had not recovered from the slump of 1927, it niay be considered quite satisfactory. There are evidences on every hand that the Dominion is now in a much more prosperous state, and this year's returns should show a decided improvement on those of the year under review." Superintendent's Report. The superintendent supplemented the chairman's report, statin" that although there waa still a decrease in the goods imported, there was an increase in the tonnage of shipping, and in the quantity of goods exported. The total cargo inwards and outwards was 2,054,110 tons at the port of Auckland, and 53,105 tons on the Manukau. Tito intra-harbonr traffic, exclusive of carried bv .the vehicular steamers, amounted to 23,098 toim at Auckland and 74,982 tons Manukau. The value of goods imported Mi as 14,002,110, and the goods

exported £14.133,707. Compared with tlie return* of the previous year, the import's liiid decreased by £1,02N,H0">, and the exports had increased by £2,12ti,~>49. The value of goods exported was a record for the port. Referring to the financial position, Mr. Burnett said that the statement was often heard that the board wait very wealthy body. While that might be as regards its assets, it could not be too strongly emphasised that the board did not seek to make large yearly surpluses. It was content if its revenue account only just balanced. The reports were adopted. Hon. E. W. Alison commented on the satisfactory financial position of the board. There had been sound progression and wise economy, and he hoped the board's finances would be as safely guarded in the future as during the past financial vear.