THE PORT OF LONDON.

North Otago Times, 1 August 1903, Page 4

THE PORT OF LONDON.

Tho second reading of the Port of London Bill was passed without a division, and it is tlierfore decided once and for all that the Thames Docks shall be purchased. Points:of minor importance will be sottled by a joint committoo of both Houses. This measure will affect large interests, and a more numerous attendance or members might have'been expected during its discussion—practically only a bare quorum was present—but the fact that tho. main issue, to buy or not to buy, was a foregone conclusion divested the proceedings of any prospect of controversy. Only throe members spoke in opposition. The Rivers Committee of the County Council expects, provided municipal credit is used, a surplus In the first year of £160,000; and in the tenth year," after largo sums have been oxpciuled, it is calculated that there will be a deficit of £75,000. But if the trust should work without this credit, there would probably be a deficit in the first year of £51,000, and in the tenth of £353,000 To meet its financial liabilities under the municipal credit system, of trust will need £250,000 a year from now dues on goods and shipping. This sum will include tho amount required for the sinking fund of £105,000, which will come iiito operation in ten years. The President of the Board rf Ti ado lias no fear that the menu? will bo foi incoming—even onethird of the rate charged for dues at Liverpool will be sufficient to provide the necessary income