THAMES HARBOUR

New Zealand Herald, Volume LXX, Issue 21493, 17 May 1933, Page 12

THAMES HARBOUR

FINANCES OF BOARD STATEMENT BY CHAIRMAN [by TELEGRAPH- —OW.V COniIESrOXDENT] THAMES, Tuesday In presenting a statement concerning the position of tho Thames Harbour Board at the annual meeting of the board this evening the chairman, Mr. H. Lowe, said ho was surprised at the remarks of the members of .another local body on the position. He outlined arrangements made with the delVnturc-holders following default by the board in tho payment of interest in May, 1932, Continuing, Mr. Lowe said tho loan liability of the borough was £253,082, which* after readjustment, was reduced to £239,771. The liability of the board was £76,000, now reduced to £60,367. The board had been accused of rushing its bill through Parliament, thereby penalising tho ratepayers to tho advantage of tho debenture-holders. This had not been tho case. From 1921 to 1928 the board struck no rate, about £13,000 being paid in interest and sinking fund out of its general fund. Mr. S. Elisor, who is Mayor of Thames, replied that there had been a lack of co-operation between the two bodies and this would result in the ratepayers being "squeezed" by both. The ratepayers must realise, however, that it was their duty to pay rates. Earlier in the meeting Mr. Lowo had been unanimously re-elected chairman.

Tho board's foreman was authorised to carry out urgent repairs to tho Kopu Wharf. A deputation representing" the New Zealand Co-operative Dairy Company, Limited, and tho Hauraki Plains Dairy Company, Limited, waited on the board requesting a reduction l»v half of t*he charges on dairy produce exported over the Turua Wharf. During the discussion which.followed the chairman said that any deficiency on the Turua Wharf would have to be met by the Thames ratepayers. The debit in the wharf capital account was now £2650.

Mr. F. Edwards advocated a sliding scale of wharfage according to the prico realised for dairy produce on the Home market. Tho matter was deferred until next meeting so that a statement could be prepared.