THE HARBOUR BOARD.

New Zealand Herald, Volume LIII, Issue 16202, 12 April 1916, Page 6

THE HARBOUR BOARD.

The balance-sheet of the Auckland Harbour Board has been very happily saved from displaying any serious transformation by the effect upon war conditions of the sustained export trade. The falling-off in tonnage entered during 1915 was little more than 8 per cent, as compared to the previous yew, while the decline of imported tonnage was not much greater. The financial result was that income exceeds expenditure by over £43,000, while assets exceed liabilities by £1,060,000. It should be pointed out that the Board's assets are in no way fancifully valued. No less than £30,000 was written off for depreciation in pursuance of a very safe policy to which no exception will yet be taken, although it may, if automatically followed, ultimately result in a vast amount of practically indestructible work being booked as worth only a nominal sum. As the years pass by the temporary structures of the old harbour disappear, leaving ferro-concrete as the main material in its construction. It may be said, of course, that if trade ceased to come. to Auckland the great wharfage structures would be as valueless as were the quays of Antwerp after the Spanish Fury. We can safely remit consideration of such a possibility to the time when beef, butter, and wool are no longer in demand— time which will not come before civilised nations cease to need food and clothing.