HIGHER REVENUE

New Zealand Herald, Volume LXXIV, Issue 22726, 12 May 1937, Page 14

HIGHER REVENUE

HARBOUR BOARD TRADE DEVELOPMENT "ALMOST UNPRECEDENTED" "The surplus of revenue over expenditure for the half-year is £30,309, resulting from the development of trade to a degree .almost unprecedented," said the treasurer and accountant, Mr. C. F. Garratt, in a report to the Auckland Harbour Board yesterday. He said the expenditure on maintenance and working expenses was slightly lower than half of the year's estimate, but this was offset by other charges for reserves and similar items.

Heavy expenditure was incurred in connection with tho redemption of the £94,900 loan of 1886, the exchange and other charges amounting to £'20,052. These charges, not being directly relevant to the one year's operations, Mr. Garratt said, had been debited to the renewals and contingencies reserve. The general balance-sheet, . incorporating Waitemata and Manukau harbour accounts, with an aggregate of £5,680,714, provided a surplus of assets over liabilities of £2,918,176.

Cash receipts for April totalled £44,657, an increase of £4177 over April, 1936, while receipts over the seven months to April 30 amounted to £258,165, an increase of £20,432 over the corresponding period last year. The principal increase was in respect of goods. The harbourmaster, Captain H. H. Sergeant, reported that during April there were 520 shipping arrivals, tho gross tonnage of the vessels being .528,008 and the not tonnage 345,761. As compared with the corresponding period for last year, the returns for overseas merchant shipping showed, a decrease of two vessels, 26,890 gross tons and 17,205 net tons. The intercolonial vessels showed an increase of one vessel, 21,676 gross tons and 15,238 net tons, while the large coastal vessels decreased by four vessels. 5976 gross tons and 3520 net tons. The returns for local provincial vessels revealed a decrease of 14 vessels, 1575 gross tons and 1306 net tons. There were 528 shipping departures comprising 494,449 gross tons and 317,848 net tons. '■ Captain Sergeant added that vessels arriving in the Manukau Harbour numbered 20 with a tonnage gross of 5825 and net of 2918. Compared with the corresponding period last year, the figures showed an increase of four vessels, 1884 gross tons and 943 net tons.