DOMINION’S FIRST PORT –

Dominion, Volume 31, Issue 152, 24 March 1938, Page 12

DOMINION’S FIRST PORT -

“Very Reasonable Surplus” MEMBERS’ COMMENTS ON YEAR’S WORKING ‘•The record for tonnage handled by the board is gratifying to all concerned it j s a record not. only for the port of Wellington but also exceeds that of any other port in the Dominion,” said Mr C. H. Chapman. M.P., seconding the motion of the chairman, Mr. D. J. McGowan, for the adoption of the annual reports at last nights meeting of the Wellington Harbour Board, Wellington was the central port of the Dominion, Mr. Chapman said, and the figures of tonnage of cargo handled and of shipping arrivals emphasised its importance. The surplus of £11,172 was most gratifying, and the wisdom of the action of the board in slightly increasing its charges for part of the year was borne out by that moderate surplus, Mr. Chapman said. He did not think the board should aim at heavy net surpluses. Its finances were' assured for a long time to come unless something unexpected happened. The very reasonable surplus had been earned after very heavy increased expenditure due to increased wages and in the reduction of the hours of work of employees. Mr. M. A. Eliott said trade generally had shown a very steady increase, and not from any one particular source. The strong financial position of the board was due to the careful way its affairs had been managed in the past. Magnitude Of Operations. "I think it behoves the board to watch during the coming year the growing costs,” said Mr. A. Fletcher. The surplus was a small one, indeed, when one considered the magnitude of the board's operations, he said. The chairman's statement on the development of the port would demonstrate that the board was alive to the necessity of keeping its facilities up to date. Mr. C. M. Turrell said that only this last week the berthage of the port had been taxed to its utmost, which showed that what had been done had not been done before it was necessary. “We have to keep this port abreast of the times in the way of providing the necessary accommodation.” he said. The surplus was a very bare working surplus and the board was sailing as close to the wind as it ought to. "We have to keep in view the question of keeping the charges down as much as possible, consistent with a proper working surplus,” Mr. Turrell added. “The surplus may appear to be small, but does not that prove that the board is not exploiting anyone that is dealing with it, and that it is giving service?” asked Mr. R. MeKeen, M.P. He paid a tribute to the officers and employees of the board and congratulated them on the excellence of their work. Mr. W. L. Fitzherbert said he trusted there would be no increase in port charges in future and if possible a reduction as the years went by. Position of Reserve Fund. Mr. T. R. Barrer said increased wages and reduced hours of work had fallen more heavily on the Wellington board than on any other board in the Dominion, and the time might come when the board might have to review that aspect of it§ policy. “I quite agree that this board should not be a Shylock,” Mr. Barrer said, “but at the same time it must be borne in mind that times change and that increased financial responsibilities come.” The charges must be kept as low as possible, he said. While revenue had been singularly elastic during the past year expenditure had been increasingly heavy.

The reserve fund, Mr. Barrer stated, was not up to the limit that was originally intended. It was something like £72,000, ns against £lOO.OOO. It would be good business to see as soon as possible that that fund was raised to not less than £lOO,OOO, to meet any difficulties or times of stress that might come along. Mr. 11. Morrison said it should be the policy of the board to keep costs down. On the whole, lie thought members could congratulate the chairman on the position the board found itself in to-day. Mr. Morrison also commented that the floating dock was more than paying for itself. That was very satisfactory, lie said.