PORT OF OTAGO BUSIER

Southland Times, Issue 23781, 31 March 1939, Page 7

PORT OF OTAGO BUSIER

RECORD VOLUME OF TRADE EXCESS OF INCOME OF £17,057 (United Press Association) DUNEDIN. March 30. The volume of trade which passed through the port of Otago during the year has exceeded all previous figures, ■ reaching a total of 484,798 tons, as against 452,215 tons for the previous year and 464,508 tons in 1924-25, which previously held the record. The increase is accounted for by imports, which increased by 43,852 ton's on the previous year’s figures, while exports showed a decline of 11,269 tons, the items mainly responsible being wool and fruit. Imports, however, totalled 359,398 tons, creating records both in inter-colonial and coastal and in oversea cargo tonnages. Shipping arrivals also created a record, totalling 1,225,830 tons net register, an increase of some 40,000 tons over the last year, which at 1,186,107 tons held the previous record. The principal increase was the overseas section which showed an advance of 23,000 tons. The improvement was reflected in the revenue, this also reaching its highest level to date, £208,665, nearly £19,000 in excess of the previous year. The advance in the harbour improvement rate, however, which came into operation on January 1, 1938, accounted for £B2OO of the increase.

The board was thus able, in spite of increased costs, to continue its harbour improvement programme and at the same time to transfer £10,700 to special funds, £2750 as a special contribution to the dredge loan sinking fund and £17,300 out of the year’s revenue to the special works reserve ' fund, this transfer being mainly on account of works estimated, but not executed or only partly completed. The improvement in other directions is reflected also in the income and expenditure account, which shows that after providing for interest on loans, sinking fund contributions, loan repayments and depreciation of plant, there is an excess of income over expenditure of £17,057, an increase of £6351 over last year.