HARBOR FINANCE

Evening Star, Issue 19779, 1 February 1928, Page 12

HARBOR FINANCE

BOARD CONSIDERS ESTIMATES A meeting of the Otago Harbor Board was hold last night to consider the estimated expenditure and revenue lor the year ending September 30, 1928, those present being—Messrs J. M. Dickson (chairman), T. Anderson, A. Cable, H. C. Campbell, H. M. Driver, W. Gow, C. H. Hayward, D. Larnach, J. Loudon, C. M’Donald, H. E. Moller, and D. E. 11. Sharpe. The meeting was held “in committee.”

A resume of the figures, as submitted by tile secretary and treasurer (Mr W. J. Bardsicy), follows:

Revenue. —General, £168.110; docks (working account), £5,650; Bauchop street refund, £2,640 —£176,400. ' Expenditure. General, £162,426; docks, £5,023 —£167,451 (surplus, £8,949). Included in the £162,426 expenditure arc the following amounts: — 1 Loan sinking funds, £2,400; roadways, £16,790; sewers, £6,446 —£25,636. The estimated expenditure under No. 2 loan account (£350,000 scheme) is £64,900, £25,000 of this sum being for the first payment of the new dredge. The principal items in the estimated revenue are:—Dues on goods: imports, £50,000; exports, £25,000 ; pilotage and harbor master’s fees, £22.000; port charges, £10,500; berthage, £12,000; rents, £21,500; receiving and delivery, £12,900; dock account, £5,650. Among the items of estimated expenditure (out of revenue) arc the following;—Dredge 222 (two shifts), £lB,.445; engineer’s department, £3,448; harbor master's department, £5,405; life insurance and superannuation, £3,200; general interest, £49,790; dock interest, £3,985; secretary’s department and general, £5,492; various works, £42,717; tugs working account, £5,834; docks working account, £5,025 ; dredge Vulcan, £6,864. Further payments will he required as follow;—Payment towards £205,000 loan redemption, £5.000; redemption of £5,500 dock loan, maturing October 1, 1928, £5,500; Albany Street School site, compensation (£5,000) and bridge (£1.200), _ £6,2oo—total._ £16,700. The estimated expenditure under the 1909 loan account is as under:—Halftide wall, depositing stone, £100; Portobello protection wall, £300; Otokou s.s. (including new boiler), £1,500; Victoria wharf, renewal of decking and laying crane and railway rails, £1.700; docks electrification (balance), £1,800; total—£s,4oo.

The estimated expenditure under No. 2 loan account (£350.000 scheme) is as follows; —Leith canal, raising walls (part), £2,500; mole, raising and extending (part), £24,600; shed P, Rattray street wharf (part), £3,000: Victoria wharf, to complete first 160tt extension. £2.800. and to construct second 160 ft, £5,000 ; now dredge Otnkon, £27,000— total. £61,900. The estimates were adopted.