Harbour Accounts.

Taranaki Herald, Volume XLIX, Issue 11659, 19 January 1901, Page 2

Harbour Accounts.

THE RESERVES AND ENDOWMENT REVENUE.

The Chairman of the Harbour Board moved at the meeting on Friday afternoon, That a separate account be kept of all income from endowments and reserves, and that the amount received from that source be placed half-yearly to the sink : ing fund accouut. He said he thought the Board was perfectly justified in placing such revenue to the sinking fund. Mr Cliff seconded the motion. He said he thought the revenue from the harbour should be sufficient to maintain the port. Mr King stated that he would oppose the proposition. The Chairman had froquently pointed out of late that something would have to be done to the wharf, and in the face of that he wanted to take the money away from the Board. The land revenue had always gone into the general revenne account, and he failed to see why a change should be made now. Mr Connett was of the same opinion. The proposal, he said, could, not have been brought forward at a more unfortunate time,. It was of the greatest importance that the wharf should be repaired, as it was of little use increasing the trade of the port if increased facilities were not also provided. It would be found that if nothing was done towards the present structure a mew wharf would soon have to be built. The idea of locking up capital and work on' an overdraft certainly seemed to him most unbusinesslike. Of course such a pro: posal might be popular as the election & coming on, but he was quite certain that if the ratepayers understood the ,real position they would not favour it. , t Mr Ward said he ; must object to lock-, ing up the Beard's revenue. The Board' must see that present requirements are attended to. Mr Ralfe intimated that he would^ oppose the motion, as he did not think; the present time was opportune. If he; was going to baild a house and had the money in his pocket he would certainly not borrow the funds. Another thing, he did not think it was right to dictate to { the new Board. ' ' Mr McLean concurred with Mr Ralfe. Mr Hignett said he did not altogether disagree with, the resolution, but at the same time the present Boarid was retiring, and it would perhaps be as well to defer the matter. At the same time, if the E reposition went to a vote of the Boarde wduld support it: r i '*. Mr Sarten stated that he would support, the motion. > : • > • •' ; * The Chairman said it was a- new experience to him to hav&MT&arten's support He thought Mr Connett's augges tion. about' the proposal being an election! dodg4 was unfair, as he brought the same' thing up three or four months ago. Eventually the motion was put and l^st by five votes to four. % ' ,