A RECORD YEAR

Otago Daily Times, Issue 23334, 28 October 1937, Page 6

A RECORD YEAR

HARBOUR BOARD'S FINANCES INCREASED IMPORTS AND EXPORTS AN INTERESTING REVIEW i A record financial year for the Otago Harbour Board was recorded in the summary of returns submitted to the board last evening by its secretary (Mr J. Renton). It stated that the revenue during the year just closed had been exceptionally good, the total receipts at £193,120 (excluding relief wages) being £15,000 in excess of the previous year and £BOOO ahead of the previous record figure of £185,129. reached in 1929-30. Records in several departments of the board's trade were detailed, and substantial increases were shown in other major items. The report stated that the inward wharfage of £60,049 was the highest in the history of the board, while the outward wharfage, totalling £24,113, had been slightly exceeded on only two occasions (in 1922 and 1926), notwithstanding reductions in export dues made from time to time during the last six years, the effect of which on the year's outward trade had been to reduce the revenue by £1474.. "Pilotage and port charges, at £38,563, are the highest yet recorded, as is cranage at £1766, this item .showing a steady and substantial increase during the past six years, the increase over last year being 28 per cent." it continues. "Berthage charges, at £ 13,347 compare favourably with the previous six years, bearing in mind that the rate oh . intercolonial and coastal vessels was reduced from 2d to Id per ton as from August 1, 1936, representing on "the year's .trade the sum of £2825. Many of the other major items, though not constituting records„show substantial increases over the previous five years. The reductions in overtime charges represent a total of £1662 for the year. "The general cash account expenditure, excluding relief wages but including transfers to reserve funds, etc. (£13,500), reached a total of £206,484, towards which the special works reserve fund contributed £BOOO and other surplus funds £B6OO. Included in the expenditure were the following special works:—Birch street wharf, £13,957 (£13,000 in addition paid'out of loan account); Leith canal widening, £4350 (£SOOO in addition paid out of loan account); George street pier, £5929; Bowen pier widening, £3189; waterside workers' building at Dunedin, £5113; total, £32,538. " In addition, the following transfers Were made to reserve funds: —Tug renewal fund, £5000; plant renewal fund, £3000; 1938 loans redemption fund. £1750; accident insurance fund, £1000; total, £10.750. A special contribution of £2750 was made to the sinking fund of the £125,000 (dredge) loan. . - . CASH ACCOUNT SUMMARY "The following is a summary of the general cash account for the year:— Balance, September 30, 1936, £2448; receipts, 1936-37, £193,120; refunds, relief wages, £4307; repayment of advances, loan account, £8600; transfei's from reserve funds, £8000; total, £216,475; ordinary expenditure, 1936-37, £192,984; transfers to reserves and sinking fund, £13.500; relief wages, £4307; total, £210,791; balance at September 30, 1937, £5684. . " The expenditure out of loan account totalled £IB,OOO, £13,000 being on account of the Birch street wharf and £SOOO-on account of the Leith canal. The unexpended balance of this loan is allocated as follows: —Birch street wharf,- £7000; Leith canal, £5000; Albany Street School, bridge (now available for allocation else-. W'here), £ 1200; Victoria wharf extension, £297;—£13,497. IMPORTS AND EXPORTS "The overseas exports at 62,020 tons establish a new record for the port, exceeding the previous record of last year (61,922 tons) by the narrow margin of 98 tons., " Imports increased by 34,881 ions? or 12£ per cent, over last year's figures, fertilisers accounting for 10.693 tons and timber for 2128 tons (1,063,869 square feet) of the increase. " Exports increased by 1930 tons, the most notable increases being fresh fruit from 2628 tons to 5984 tons, fertilisers from 1030 tons to 3662 tons, beer and stdut from 19,068 tons to 21,066 tons, and scrap metal from 1466 tons to 2545 tons, while decreases are shown in the following lines:—Wool from 111,656 to 103,526 "bales, rabbit and sheepskins 11,294 to 7983 bales, frozen meat from 12,915 to 12,212 tons, while cement dropped from 2245 tons to vanishing point at 16 tons. Other items, such as butter, cheese, hides, tallow, grain and seed, were practically the, same as last year. SHIPPING "The shipping arrivals for the year at tons (net) constitute a record for the port, Exceeding the previous record of 1,117,958 by 68,149 tons., The tonnage of oversea vessels (779,713) is also the highest on record, the best previous year being 754,730 tons. The previous records in both cases were established last year." PORT OF WELLINGTON AN ALL-ROUND INCREASE (Per United Press Association) WELLINGTON, Oct. 27. The trade at the Port of Wellington for the year ended September 30 constitutes a record for the port. At a meeting to-night of the Wellington Harbour Board the acting chairman 'Mr T. R. Barrer) said that the net registered tonnage of shipping arrivals was 4,090,307, compared with last year's record of 3,910,810 tons. The cargo handled, both inward and outward, on a manifest tonnage basis, was 2.311,076 tons, compared with 2,012,460 tons last year. The general cargo imports increased from 550.137 tons in 1936 to 684,007 tons in 1937. Transhipments increased from 117,907 to 122.481 tons and exports from 312,957 tons to 355,806 tons. The number of ships arriving in 1937 was 3147.