HARBOUR BOARD FINANCES

Press, Volume XCVI, Issue 28399, 4 October 1957, Page 15

HARBOUR BOARD FINANCES

Record Year Reported

A record financial year has been experienced by the Lyttelton Harbour Board. The revenue from October 1, 1956 to September 24. 1957. was £531.818. compared with £481,190 in 195556. The board was £124,416 in credit, said Mr L. G. Amos. Was interest being earned on the appropriation account? “No,” replied the secretarymanager (Mr A. L. Burk). “It is in the fund.” Mr Amos: It should be placed on short-term loan. It seems wrong that that sum should be left lying idle. Mr Burk: I will have a look into the position. He did not think that the financial report was satisfactory, said Mr A. A. Macfarlane. Last year, the carry down was £141,000. This year it was only £127.000. The board would end the year with j tidy credit balance, said Mr Burk. The total tonnage for the year was 1.437.121. against 1.362.495 in 1955-56. Imports in September were 93.364 tons (76.526) and exports 35.000 tons (31,547). During the month 97 vessels (230.540 tons) entered the port, compared with 100 vessels (26,228 tons) in September, 1956; 27 were overseas ships. The chairman commented that f or the sixth ywr the tonnage handled exceeded 1,000,000 tons.