WESTPORT HARBOR BOARD.

Gisborne Times, Volume XLV, Issue 3999, 4 August 1915, Page 5

WESTPORT HARBOR BOARD.

THE FINANCIAL POSITION. A RI’AF-R CONTRADICTED. [Press Association Telegram.! AYF.STPORT. Aug.' 3. At a specia • meeting of the AYe-t----port Kail-or Board. Air J - ’. F. Alurro took strong < xeepxicn to statements that laid got into circulation in some newspapers giving the impression that the AV-.-stport Harbor Board was in a state of bankruptcy, the speaker stating that till- v.> absolutely contrary to the fait-, as the Board had a- big cash balance and limitless assets. He install- id a field of -ISO acres on the AVestport >tocktiui Company’s property. formerly ei-'-sed by the Government- as ”probably coal bearing.” and now. as the result- of boring, etc., estimated to contain nine million tons of coal, estimated lo give the Harbor Board, if all were extracted. -£900.000. or. if oulv one-third were extracted. £300,000.' The speaker -aid mere were many other similar coal places in the district. He had the impression thathow the rumor got abroad was probably due to the intention of the Board to lav up its small suction dredger because the Board found it could get better results ’ey working the larger dredger longer hours. On Air Alunro’s motion, the Board resolved: ■’That the statements which have recently been circulated, m the press of the Dominion to the effect. that the Board's revenue had fallen off to a serious extent and is bkely to impede the development of Hie port-, is not correct. Owiuo’ to the war.' there is a slight decrease only in revenue, tint not or sufficient importance in cause alarm. As a matter ot fact, the Board's cash fund in Kaiid amounts to £32.000. and the Board is. quite satisfied there is no occasion to fear any stopping of the works necossarv for koopni£ tlio harbor opon iin<i to carry ou Jovolonmont- works Hi liaud.” , . At the same meeting ot the boara inquiries wore received front a .Christchurch firm for an exclusive right to use wranite blocks not required by the 80-U’d at Cane Fmtlwind. the firm uesirinw the blocks for ornamental work's for building purposes and intending to produce and do the dressing: locally of at least 20.000 tons per annum.