GREYMOUTH HARBOUR BOARD.

Evening Post, Volume LXXXIII, Issue 8, 10 January 1912, Page 3

GREYMOUTH HARBOUR BOARD.

j GREYMOUTH, 9th January. At the. Harbour Board meeting, held i tine evening, the statement ior the twelve months was submitted, and the chairman was congratulated on the very satisfactory portion in which the finances etood. The- gross receipts for the year ended 31st December, 1911, amounted to over £41,000. When the present board took office in 1908 the revenue was £23.017 0e Bd, showing the substantial increase in the two years that have since elapsed of £12,580 7b 6d. During tho year the board received the first instalment , of the consolidated loan of £70,000, enabling Xo. 4 loan of £50,000 and a. Tmsury ad- | vimcc to be paid off. Arrangements

have also been made to exchange £50,000 worth of debentures which fell due on Ist January, 1912, for an equal amount of consolidated debentures. The total loan liability at the end of the year, after adding the debit balance standing against the loan account, and for which debentures, have not yet been raised, and deducting accumulated sinking fundes, estimated at £48,000, is approximately £29.000. After providing for interest and sinking fund,, and expenses of administration, estimated at £17,000) theio remains a balance available for the ordinary purposes of tho board amounting to £18,600. The members of the board congratulated the chairman (Mr. Folix Campbell) on the excellent statement presented. Mr. Campbell stated that no other board in the Dominion could thaw euch a satisfactory statement.