A STRIKING IMPROVEMENT IN THE FINANCES.

Evening Post, Volume LVII, Issue 22, 27 January 1899, Page 2

A STRIKING IMPROVEMENT IN THE FINANCES.

The Secretary of the Harbour Board I submitted to the Board at this afternoon's meeting a summary of the Working of the Board for the year which has just closed. It disclosed some interesting facts. , In regard to the tonnage of goods, the inwards foreign traffic 79,270 tons last year r as against 79,350 in 1897 ; the inwards colonial and coastal, 84,882 tons as against 77,148; and transhipments 76,038 against 70,046. The totals Were — For 1898, 240,190 tonSj as ag'oinat 226,544 tons for 1897, an increase of 13,646 tons, or 6 per cent. The outwards foreign traffic for 1898 totalled 18.621 tons, as against 13,658 ; and the colonial and coastal 56,112 tons, against 49,376, or a total increase of 11,699 tons, or 18| per centl In wool and hemp the number of wool bales handled last year was 114,200, against 126,003 in 1897, and hemp 24,560, against 11,935, the totals- for both being 138,760 hahdled in 1898, as against 137,938 in 1897. The number of wool bales handled for the 12 months ending 30th September last was 127,273, or an increase of 21,935 bales on the like period in the previous year The number and tonnage of vessels arriving in the port showed an increase of 125 vessels, and. an increased tonnage of i 169,567, the increase i nsteamers being 121, representing an increase, of 163,010 tons, and in sailing vessels 4, representing an increase of 6557 tons. The financial results of the year were particularly satisfactory. The profit and fpss account? Showed that after payment of 411 charges, including interest, maintenance, and depreciation, there was a credit margin for 1898 of £882 a, as compared with £8260 in 1897 and £3043 in 1896. The assets had increased by £12,345, being a surplus as above of £8829, and the increase in the sinking fund, £3516. This surplus was more than sufficient to pay the interest and sinking fund, £7500, on the proposed new loan of £150,000. The assets were estimated at £367,460, and the Uab'lities at £202,570, the balance of assets above liabilities being £164,890. The amount written off for depreciation was £10,343 (less expenditure on repairs and maintenance, £4504), the net amount thus wr'tten down thus being £5839. The amount paid for interest on loans was £10,617 . The receipts for the last two years were set' out a?, follows :,— 'Wharves, and quays. £62,105 in, 1898 .and £57,2|S in 1897 - Harbourmaster's 4epUrtment,"'3B,B3l6 an.d £7095; wstgfijaSdgeg£ £&U.- fi£tf\£Wi } rents-, £1777 and £177&;' licenses and fees, £296 and £310 ; miscellaneous, £183 anc 7 £176; interest fixed deposits, £840 and £764. * Totals £?p7O &1898* as against £67,824 in 1897, rin. increase of £6246, or 9.2 per cent. The working expenditure for the same periods was as follows : — Wharves and quays, in 1898 £33:925, as against £31,93f in 1897; office, £1715 and £1666; Harbourmaster's departmerit, £2077 and £2364; weighbridges, £290 and £255: engineer's office, £52 and £39 ; dredging, £1333 and £1242; miscellaneous, £972 and £483 ; interest on loans, £16,617 anr 1 £10,617; sinking funds, £2100 and £2109. Totals, £53,665 for 1898 and £50,713 in 1897, an increase of £2852, or 5£ per cent. The capital expenditure of the Board in 1398 was as follows: — Repairs and maintenance £4504, new works £8744 ; and the figures for 1897 were £3829 and £3180 respectively, the totals thus being £13,248 for 1898 against £7009 for 1897.