THE PORT OF LONDON

Dominion, Volume 1, Issue 156, 26 March 1908, Page 7

THE PORT OF LONDON

■. — » — ' IMPORTANT DEVELOPMENT.

PROBABLE PURCHASE OF DOCKS,

COLONIAL PRODUCE,

BY TELEGRAPH—PRESS ASSOCIATION—COPYRIGHT, London, March 24.

'Tho directors of • the London- and India Docks recommend tho proprietors. to accept tho Right; Hon. D. Lloyd-George's offer, on behalf of the Board of Trade, to'purchase them as' part, of a Govornmont scheme for tho port of London. ■ Mr. Lloyd-George informed Captain Collins, Commonwealth representative, that when the proper statutory authority had been constituted, then it would be, time for tho colonies •to make representations regarding the provision of 'ample cold. storage. • Tho/Hon. J. W. Taverner, Victorian Agent-General, congratulated Mr. LloydGeorgo on - securing' the key to the'port of 'London.. Tliis, he considers, is a great step towards the proper handling and inspection of Australian produce. .... ' THE COMPANY'S BUSINESS. , The Lohdon'and India Docks' Company, had promoted a Bill as an'alternative to , the Government scheme for dealing with the port of London. 1 ;. If the company now acts on the, advice of its directors; the result should be. to strenßthen the hand of the Government, and assure the .completion of its plans. The report of • the Company for the year ended Dccembor 31 Inst shows'that the total tonnage of. goods dealt with was 1,02G,530, .being an increase of 20,148 tons as' compared with the year ■ 1006. The stocks of goods: in ■ warehouse on . December. 31 were 538,653 tons, as against 199,318 tons on December 31, 1905, showing: an increase of 89,505 tons; .The'net revenue account shows' that, after providing for interest on loan capital, and • for the dividends' on the A and B Preference stocks And the deferred ordinary, stock, there ..reinams . a balance of £AM-J>U, ■ ayainst .£111,175 a; year ago. The directors recommend a, dividend of 3 per cent.. On 1 the deferred ordinary stock for the year 1907,. leaving .£3608 to be carried forward. A. year ago the dividend was 2} per cent, on tho deferred','with £3290 carried forward. Details of the Government's scheme have not yet been stated. It has been published, however,: that a commission will be incorporated as the controlling' authority of the port, with powers to i improve,, "to.' buy property, ' build docks, etc. . i . '" ' Sir Thos:, Sutherland, President of the P. and O. Company, in a ,recent speech, stated:— The .long-promised legislation for settling the futureport. authority . was,,: he ' believed, at. last near achievement. :He ventured to, hope that,-, when the port: authority was constitute, the improvement . and' extension of facilities on tho . Thames would tako father the direction; of..being'increased nt the month of tho riveri ' than ; up river in ~ the vicinity .of the Victoria : Dock?. Ho cohfbssed jttf having changed his mind;absolutely on that, subject on- account of theincreasing' size-, of •. vessels and the: necessity of .facility of access .for those great vessels;'also been: affected by the consideration that traction on land had 'undergone' a revolution; andi they were now enabled, provided, tliey/.,had proper roads and bridges,- to- bring' the district •"of 'Tilbury; as conveniently near to tho centre of London as the Albert Dock was. at the: present 'moment. ■■