THE PORT.

Press, Volume LXIII, Issue 18970, 7 April 1927, Page 12

THE PORT.

TRADE NOT FALLING OFF. REPORT TO HARBOUR BOARD. That the trade of the Port is not going back was made clear at'yesterday's meeting of the Lytteltou Harbour Board, when the chairman (Mr \Y. J. Walter) submitted his report, which stated:—

The total ordinary receipts amounted to £83,101 19s 7d, an average of nearly £9233 per month, compared with £110,237 3s for the twelve months of 1925, an average of £9IBB per month. The revenue for the nine months totalled £84,054 5s 7d, or just over £9339 per month, as against £109,038 14s l'Od, or about £9136 per month for the twelve months of 1925. We commenced 192G with a debit balance on the general cash account of £37,369 16s 3d, and at September 30th this had been reduced to £18,419 8s 3d, although our total ordinary payments amounted £68,800 12s lid, indud' ing £14,258 9s 7d transferred to the depreciation or special renewal fund; interest on loans, £17,220 17s 10d; and contribution to sinking funds, £3075 the latter at tho rato of £4IOO per annum, instead of £IOOO per annum as formerly. In addition, wo spent £3430 9s 8d on general repairs to. vessels, plant, wharves, etc., and £47,360 9s on capital expenditure, the main items of which were: Eighty-ton crane paki, progress payments £10,507 17s sd; three-ton electric cranes for Xo. 7 jetty, £20,369 3s lOd; alterations to I\ T o." 7 jetty for same, £4303 Cs 3d; £5911 14s Id on the dredge Cantorbury, and £2345 4s 5d on additions to our refrigerating plant. The special receipts in the general account were: £5300, refunded from the special renewal 'fund, and being the remaindor of the sum chargeable to "renewals" in connexion with the new boilers in the dredge Canterbury]! and £50.200 transferred from the £}50,000 loan account —being the final instalment of that loan —against expenditure on electric cranes, capstans, and the Gladstone pier.

Our publjo debt amounts to £410,000, .and tlio overdraft at September 80th £15,419 8 a 3d, a total of £438,519 8a 3d, against which we have credits in our sinking fund and special funds amounting to £287,406 4s Id, although our 6 per cent, and 4 per cent. loans do not mature until July, 1939. The Board's assets at September 30th, 1926, totalled £1,231,060 Is 7<l, and the liabilities £436,008 lis sd, leaving an excess of assets amounting to £795,051 10g gd, after writing off £20,300 5s 4d for depreciation for the nine months. Tonnage Figures. On various occasions lately statements had boon made in the public Pross and elsewhere that our Port is "going back," or that the trade of the P«rt is falling off. It. is therefore interesting to examine the facts. In the ten years 1916! to 1925 the not tonnage of shipping which ontered tl>o Port lose from 1,633,285 tons to 1,931,737 tons. In J925 the number of vessels which entered was 1565, with total net tonnago of 1,921,787, and for tho nine months of 1936 the number was 122G, with a total tonnage net of 1,533,634, an increase over 1925 at theirato of 79 8-3 vessels per annum, and a tonnage increase at the rate of 123,175 tons per. annum. I would also direct your attention to the increases shown in the wharfage returns in regard to the tonnage of goods (subject to wharfage dues) passing over our wharves, and the dues collectod thereon. I w iij take the last three years ;<-*■?

Dues. Tonnage. * 92 * ... 34,794 503,333 ■filjj 3 •.. 30,400 512,980* 402Q (0 mouths) .. 30,(344 410,277 Tho increases in 1025 over 1924 were £1672 13s 9d and tons, and for the nine months of 1926 at the rate of £4391 12s 4d and 34,056 tons per annum. * It is obvious that the, trade Of a port is iu proportion to the producing power and the purchasing power of the community behind it, and it is obvious that tho volume of shipping is, and will be in like proportion. Lyttolton has maintained and increased its trade, the shipping has increased accordingly, and the facilities of our port have' kept pace with the trade. We have no evid.enco that lack of facilities has deterred trade; wo have evidence of increase Of trade; as I have stated above, tho volume of the port's trade is the power of tliQ community behind it, and I have yet to learn that a port remodelled or crammod full of facilities and applj. anees of all kinds will necessarily "induce" more shipping to enter that port or will "induce" greater production or spending power in-tho community. Vessels do not enter a port for fun; shipping companies are not philanthropists; whore tho trade is vessels will go, and all the harbour facilities in the world will not induce a vessel to enter a port unless tho community is importing or. exporting, or, in a word, Unless there is cargo to carry. Imports and Exports.

In my annual report last Juno I drew your attohtion to the adverse balance of imports over exports for 1025, tho figures being; Imports, £7,541,331 and exports £6,385,886 respectively. I'or tho nine months ended September 30th, 1926, tho value of imports was £5,087,358, and the exports, £4,541,649—an adverse balance of £545,709, This state of affairs has obtained since 1920, and must produce financial stringency and dear money, unless tho whole community faces facts. The port of liyttelton is not singular in this unfortunate position. Dominion figures published last week showed an adverse balance on the overseas trading figures of over £7,000,000 for the first three-quarters of the Dominion's current financial yean-. For tho eleven months ending, February, 19"7 this had been reduced as follows:—lmports, £43,500,461} Exports, £39 231.81)0; Adverse balance £4,265,560. ' As a Harbour Board wo havo shared in producing thoao results by the importation of harbour plant and appliances, iUHI it is a question to my mind whether ve should not defer the purchase and importation of further plant until the Dominion trade figures show considerable improvement. Of course, from a Dominion point of vinw it has to be admitted that our [raac has undoubtedly suffered from the

effects of the industrial strikes in England—our chief market. Port Facilities. Tho equipment and cargo handling facilities of our port have been further added to during the nine months of 1926. Four three-tou electric cranes, by Messrs Babcock and Wilson, have been installed on No. 7 jetty; the eightyton floating crane Kapaki, ordered in 1925 from Messrs Fleming and Ferguson, arrived on July 27th, and was taken over by the Board on October 14th. the electrification and improvement of the dock pumps was completed, and a fifty-ton freezing machine added to tho plant at our cold stores. Reclamation Area and Bulk Storage of ruel Oils. Amongst the, criticisms of the Port and the Board which I have referred to was one* to the effect that tho Tort is deficient iu "facilities'' tor storage of fuel oil and the bunkering of oilfired vessels. I have the more pleasure, therefore, in reporting that sites on the Board's old reclaimed land at Dampier's Bay, West Lyttelton, and on the new reclamation area, at Naval Point, have been leased by tho Vacuum Oil Co., Ltd. and British Imperial Oil Co. for the storago of fuel and othor oils in bulk; that, railway sidings have been laid totheso areas,'and that the companies mentioned are actively engaged in tho erection of their plant. The Board has granted permission for Die necessary pipe lines to be laid, and I am sure it will not be long before shipping companies will be able to avail themselves of tho facilities thus provided.

J Improvements, 1 At September 30th all tho improvements to our wharves and plant generally, ejther in hand or projected, as recommended by our Engineer and reviewed in my last annual report, have been completed, particularly the reconstruction of tho Gladstone Pier. A contract has been let for the ironbark timber and piles required for the reconstruction and enlargement of No. 3 jetty, and this work will shortly bo taken in hand. Tenders have also been authorised for tho five-ton electrics cranes and electric capstans for tho Gladstone pier, recommended by our Engineer. The only outstanding item is a new dredge; this the Board decided to defer for two years. In the meantime I think the Board should consider whether the alternative mentioned by our Engineer, viz., working the dredge Canterbury sixteen hours- per day, to ensure the maintenance of the harbour depths, should not he adopted. The whple of the Board's wharves and plant, afloat and ashore, have been kept in thorough repair and efficiency ; the, lights in the harbour leading beacons have been converted'from oil-burn-ing to flashing acetylene lights; the cottages at Little Port Cooper Signal Station have been thoroughly renovated, and several additions made have been greatly appreciated hy our signalmen. Yacht Moorings. The question of providing mooring Accommodation for yachts and motorboats haß been a difficult one for many years, but it has at last been overcome after conference with yacht owners and others interested, by driving, at the western end of the inner harbour, rows of piles at which the craft may moor, and for the use of- which they will pay the Board an annua! fee. The chairman moved the adoption of the report, this being seconded by Mr AV. T. Lester. J The Discussion. Mv 8). T. Armstrong, M.P., said that tji§ position of the Board was a healthy one, especially the financial position, which would, he thought, conpare more than' favourably with, that of other Boards in the Dominion. The trade of the Port had gQRe ahead, as was shown in the increase Jh dues and tonnage. Thia was satisfactory in view of the claims made reeently that the Board's policy was robbing; the Port of trade. It was that the imports were at the present time ahead

of exports, but this was-in no way due to the policy of the .Board.. The Port facilities had improved beyond all knowledge, ani to--dpy kyttelton little behind the best equipped in the Itamjiupn. He. was of the opinion ..that the recreation ground at kyltelton was a valuable asset,. With regard ta the silting up of the harbour ho considered it to be a serious matter and was surprised to learn the position. , Mr M- J, Miller said that the bijs> ness of the Port had been carried out, in a satisfactory manner. . lit showed'; that it was still progressing. • There was no need .for. anxiety regarding the future of the Port. It' was a "wise

policy to Jqolv a Jittltf time, and the Hoard Even although the Board had r fair amount of money during year, this had been donef to- MM Port right up to date, • #^p Pr. Thaoker said that tha 9mm shqvild have referred in bis WWsi the Sanders Cup contest. . is|K The chairman: The report waf'Jß the end of gepteniber. ■■•■#^l Other members spoke W 0 of tho ipolioy of' the Board Usm gjtjifujafe<l, tw retiring C}Vaitßts|S| . report, he had submitted.,.' : » The report waa adopted, a udfjffl| of thanks accorded the Board'&|BgK