TIMARU HARBOR BOARD.

Timaru Herald, Volume XLII, Issue 3428, 23 September 1885, Page 3

TIMARU HARBOR BOARD.

A special meeting of tho Timaru Harbor Board was held at their offices, Messrs Maclean and Stewart's Buildings, yesterday. MEIIBBRS MESENT. Mr William Moody (Chairman), and Messrs Kdward Elworthy, John Talbot, Jas. Wilson, Alphous Hayes, 'jno. Kelland, Keith Forbes Gray, Edward Acton and Moss Jonas. BOBUOWING PROPOSALS AKD EXTENSION OP IVOIIEB. Tho Chairman said m accordance with instructions agreed on at lust ordinary meeting he had called this special meeting to consider the Loan Bill. Ho had, as desired, prepared a stntement, whicli ho would now ask the Secretary to read. Mr Tennant did so, as follows : — Tho Timaru Harbor Board, m reconimonding tho ratepayers to sanction tho raising of a further loan, placo beforo them tho results of tho expondituro of the first loan sanctioned m 1882; tho benefits derived from tho inorcased shipping facilities resulting from thatexponditaro ; and tho reasons why tho Board recommend the further prosecution of improvements m tho harbor. The expenditure of tho first loan of .£109,000 (which will bo all exhausted early m 1880) is shown as undor : — £ Breakwater, 602 foot (added to tho length existing m 1882, 1300 feet), making iv all 1900 feet of solid structure (including approach) ... 57,452 Wharves, part of No. 5 (widening contract), whole of Nos. 6 and 7, ami Moody wharf contract, m all 996 foot 22,500 Total wharfago existing 183(3 feet, which affords 1370 feet avaUablo borthago for shipping Plant, including new crano, Samson, £3500 7,400 Dredging 1,290 Buildings, .£SOO ; reclamation, £(ji 561 Salaries and exponseß 3,903 Exponses, floating loan and diseonnt 2,8(33 £9G,0G2 Tho balanao of .£4OOO will likely bo required to complote the extension of main wharf authorised to bo constructed to whoro tho enrvo begins, 120 feet. It is proposed to apply tho noxt loan of £ 100,000 as nearly as may bo on the following lßt. 400 foot of Breakwater at £110 £ por foot 44,000 2nd. Dredging tho harbor sufficiently to accommodate largo Homo going Bteamor* as soon aa possiblo, nnd thereafter providing dredging plant snfficiont to keep tho harbor at proper depth ... ... . . 25,000 3rd. Reclaiming foroshoro, north sido of Urenltwator, givingr fivo aoros valuable building sites 8,000 4th. Extending Moody Whatf 400 fcot 10,000 sth. Expenses floating loan and discount, say 4,000 Gth. Ronmindor roaorved for coutingoncies whioh may ariso ... 9,000 £100,000 Tho total trade of tho port during tho yoara 1882, 1883, 1881 and tho first half of 1885 koops at much tho sumo fignres, (32,000 tons annually. It may bo safely assumed from tha Bteadinoss of thoso fignros that tho lowest point of production iv tho district has boon reaohod, and that tho least ntimnlns to production will cause a contudorable adv&noo on theso tiguros. But passing on with tho morost roforonco to this reasonable expectation, tho Board has great satiufaotion m pointing out that tho not rovenne for caoh yoar sinco aud including 1882, has exceeded that of its pradooessor, and tho first half of 1885 quite warrants tho assumption that tho year 1885 will proflneo tho largost not rovonuo which tho Board has yot had tho pleasure of making, promising to bo close upon £4000. It m a gratifying fact that tho Board's financos havo fivirly mot its burdons of oxpensoH and interest on loan without any special increaso m tho rates of shipping aud port duos aud that tho savings offootod to the producing and consuming population havo boon uonaidorably and sufficiently striking to call for special notice hero. On comparing tho businoss of tho year 189 i (whioh cost tho public for harbor ohargoa £9274) with tho rates whioh would havo boon charged for tho samo work m 1880 (£13,208) a clear saving to thoso interested of £3931 has boon mado for thoui. Minor oavingH also aro now mado by much of the aargo shipped and landed boing sout diroot ou trucks to tho consigning point without incurring intermediate storage, receiving imd delivering »nd oxtr* h»ulaje,

There has also been n, rednction on the rate of insurance, but over and above all these i savings thore is the much more important fact | that the facilities of rocont years have entirely | relioved the producers of the district of the serious cost of transhipping by ateamor or oraft to Port Chalmers or Lyttelt on. Tho saving on wool alone m 1884 £ moans 2,300 Saving on wheat (on average of -1 last years' shipments to the United Kingdom) 86,000 sacks per annum ... 3,200 5,500 Add saving on shipping charges . . . 3,900 Shows a sum total of at least ,££>,4oo Which tho district now saves on a year's work oompared with the more expensive and troublesome costs of tho port which existed only a very few years ago. Reductions do not strike attention so forcibly I as increases m charges do, and as it may havo I escaped notice that theso savings have beon bo considerable, it is desirable that tho facts shonld bo recalled and recorded for reference and comparison m time to come. If tho conditions of shipping had remained as they wero only fonr years ago, tho stage at which operations have arrived might huvo sufficed for some time to come for the accommodation of shipping m the stylo theu current, vessels of 1200 tons now finding complete shelter and prompt despatch— but the aspect has entirely altered within tho last three years, and now that tho commerce of the colonies finds conveyance by steam vessels of great capacity, tho question of keeping abreast with tho ago forces itself pereratorily upon the Board, which would fail m its duty if it did not unhesitatingly recommend tho extension of improvements with tho immediate object of having as much as is possible of thoir business done m tho most modorn style. In order that this desirablo ond may bo attainod, tho Board recommend tho borrowing of a loan of £100.000, at 4 per cent. This, with tho 5 por cent loan now current, means, when tho whole of the second loan is oxpendod that .£9OOO will have to bo found annually to meet interest. It will take three years to overtake tho programme of improvements, and as there will be a profit obtained from the balance of money hold here, being invested at a higher rato than we pay for the new loan, the Board does not anticipate that any demand will bo mado m thejform of rato before tho new loan is nearly all expended. Kvon then, should the Board ask the district to contribute towards payment of interest, a reference to the oxtent and value of tho harbor rating district shows that no great anxiety need exist on the score of liability of the ratepayers to maintain and dovolopo their port. Tho rateable value of tho district reaches six and a half million sterling (.£6,500,000). Its area is 2,718,800 acres. Tho small rate of tbree-sixteentha of a ponny per £ would realise .£SOOO. The direct savings which have beou pointed ont already far exceed this amount, and the Board reeotninouds and urges tho ratepayers to agree with hearty goodwill to their proposal, which has for its object tho making of a harbor and port worthy of the district. It 3 oapacity for production being but m its infancy, thoro can bo little doubt that tho establishment of facilities suited to tho present times would largely aid m fostering the productions for which tho soil and climate are so cminontly suited. William AToODT, Chairman. The Chairman said Sir Goodall, Consulting Engineer, had replied by telegraph to the questions put to him, there not being sufficient timo beforo the meeting to reply by letter. The questions and answers were as follow :— Q. — What is tho area of shelter that will be given by the Breakwater whon the present contract is finished ? A. — Partial shelter, 115 acres ; good, 61 acres. Q. — What is tho additional distance it would be prudent to extend tho Moody Jetty, provided the Breakwater is not extended ? A. — Two hundred feet. Q. — What is tho utmost amount of borthago accommodation that can be provided as the works now stand ? A.— Breakwater wharf, 1000 feet; Moody Wharf, two sides 250 feet, equal 500 feet ;— total, 1500 foet. Q. — What additional area of shelter would bo given by extending tho Breakwater a further 500 foet P A. — Partial shelter, 32 acres ; good, 36 acres. Q.— What distance onght the Moody Wharf bo then extended ; also how much additional wharf accommodation could bo provided r A.— Moody Wharf oould be extended 400 feet further, provided tees from Breakwater are not built, and 2000 foet could bo extended from reclamation line. Q. — What sum approximately will bo required to extend the Breakwater 500 feet further, to provide the additional jetty accommodation that such extension will allow for : also to effect reclamation works and erect suitable offices for tho Board. A.— Breakwater oxtension, .£58,000; wharf extension, £30,000; reclamation and breastwork, £64,000 ; offices, £5000 ; total, .£157,090. The Chairman suggested that m order to fully deliberate and discuss the matters beforo them tho Board should go into Committee. Ho suggested this not for tho purpose of keeping tho matter from the newspapers, but. that the Board should not bo bound by the by-laws — that they might have every opportunity of discussing the matter fully. After a flight discussion Mr Jonas moved "That the Board do not go into Committee to allow latitude to members to speak more than once." Mr Acton moved as an amendment " That the Board go into Committee, the proceedings to be reported by the Press." The amendment was carried, the voting being, far — Meßsra Acton, Kelland, Talbot, and Elworthy; against — Messrs Jonas, Hayes, and Gray. After some conversation the Chairman read his statement over slowly, at the conclusion of which Mr Hayes said now that members had hnd a preliminary canter, and to set the bull rolling, he would move — "That m order to render profitable and reproductive the works now constructed by tho Board, and have them extended m » manner proportionate to the requirements of the district, the Board fully considers it necessary to float another loan." Mr Elworthy said lie did not think there was any difference of opinion on this point ; tho only point of discussion was, shall the amount' to be raised be £50,000 or £100,000 ? Mr Hayes said his reason for moving was to show tho ratepayers tho Board wero unanimous m tho opinion that a loan was required. Tho motion was put and carried unanimously. Mr John Talbot then moved, and Mr Jonas seconded— "That etcps be tnken under tho Timaru Harbor Loan Act of 1885 to obtain tho authority of the ratepayers to the borrowing of a further sum of £100,000 for carrying on the necessary extension of tho harbor works." Mr Talbot Baid lie had put the motion m this form, because it was just as well, if not better, to go straight to tho question at issue, as beat about the bush. In tho lirst place, ho siiid, ho did not think a member of tho Board wishod to spond a single sixj>onco on an unnecessary work ; ho was sure they nil desired to further what works wero really necessary, and only spend money they wero justified m spending. Ho hold it would be very false economy — nay, culpablo neglect, to stop the works at their present stage. So far as ho could see, after giving tho subject much thought, tho Board were justilled m borrowing a sum of £100,000, as the whole of it would bo required to improve our shipping facilities. Tho question of dredging — a moßt important one — was ono of the first they would havo to attend to. For this at 'lcaat a sum of £26,000 would bo required. Somo £10,000 was required for jetty extension j about £8000 or £10,010 for reclamation purposes nnd a further sum for tho extension of the mole, say 500 or 600 foot. Mcmbora and tho public would doubtless bourn mind that tlie principal object aimed at when tho last loan was floated was to provide shelter. This had now to a large oxtent been done, and their first object now should bo to deepen tho harbor and provide sufficient accommodation for any ulois of vessol that might come hero — to allow ships of 2000 tons and over, for instance, to load hero with oaso and safety. The next question that aroso wns, " Poos the district wimt this loan, and aro vro justifiod m going for it ?" He held it was wanted, and tlmt tho Board wcro quite justified m iloating it. Referring to a remark that graingrowing had of late years not bren successful, and that, therefore, it was likely the trado m grain would collapse, Mr Talbot (aid ouch »tjung «h » frnt aaittokf , Hecop>

sidered there wero at least 500,000 acres of good agricultural land m this dis'rict, and m the ordinary course of farming this must be cropped. The fact was, the land had only been withdrawn from cultivation for a timo, and there was no knowing at what moment tho most part of this land would be ngain put tinder cultivation. Say 100,000 acres were sown down ; this would give two million bushels for export, and to provide for this being exEeditiously shipped wo must improve our arbor ; wo must Irok to the future. Tho district was valued at 6fr millions, and allowing that the land (500,000 acres) was valued at £8 per acre under the Property Assessment Act that at a Jd rate would give something over £-1000. per annum. They must also bear m mind that every £100,000 borrowed added 4s per acre to the cost of land. Ho considered that supposing they had to pay interest at 4 per cent on the money borrowed, by tho time the loan they were now going for was expended, the revenue from the harbor works would be sufficient to meet the interest on the first loan, and should they have to go to the ratepayers for the interest on the second loan the rate would be found so small that no one, he felt convinced, would take exception to it. For instance a farmer holding 500 acres would be rated at less than 2d per ncre, or £i per annum. Ho asked " Would that, m proportion to the advantages to be derived, be thought a great amount ? " He ventured to think it would not. Tho next thing to consider was, do we want the £100,000? Ho felt quite certain they did and should want it. Kveryone was ugreed that the works so far had done great good to the district, and no ono could Bay that the works about to be undertaken would not do as much good or even more. He referred to old times, away back m '68, about which year an attempt hud first been made to buiid a breakwater, and contrasted the old surf -boat system with the present way of working the port find said if they stopped the works they would have to use the surf-boats much more than they did now. He held what they had dono m the past was well worth the money, and that it was imperatively necessary ' that they should extend the harbor works. Looking at it from a settler's point of view, he saw no difficulty m the matter whatever. A quarter of a century hence, perhaps, this district would bo entirely altered ; the large blocks of land would no doubt be cut up, and m tho natural course of events the district would contain 100,000 inhabitants. He hoped the owners of these blocks would take the view that this district was essentially an agricultural one, and that aa settlement went on they would be prepared to encourage it. He felt convinced tuat the produce raised here would require a large number of vessels, many of large tonnage, to take it away ; therefore he would once more state they should improvo the facilities of the port as much as possible. (Applause.) Mr Jonas, as seconder of the motion, said very little remained for him to add, as the statement by the Chairman, and the straightforward remarks of Mr Talbot must have given members a good idea of the matter before them. Howover, he had taken some little trouble to compile a few statistics, which would show most conclusively tho vast beneEts the district m general must have gained, as yearsucceeded year, through tho extension of our harbor works. Going back to 1882 he found that the gross revenue for that year was £1963 16s Id. To show how the facilities for shipping had increased m one short year, he would tell them that for 1883 the gross revenue had run up to £6362 Its 2d. The net revenuo for that year was £2001 13s sd, or an increase on tho net revenuo of 1882 of 17 s per cent. In 1884 the net revenue was still swelling, tho figures being £2394 19s, or an increase over that of the previous year of 19$ per cent. All this time the extension of the works was still going on, as it was found the class of vessels that were coming to the port were such as needed great depth of water to lie m. lhis brought them to the present year, and prospects were so good that calculating en the revenue so far it was CBtimatod the gross revenue would bo fully £7000, and the net revenue £3500, or an increase on the net revenue of 1884 of 46i per cent. He (Mr Jonas) concluded from these figures, showing a steady increase year on year, that the revenue of the port, was bound to go on increasing, because if it did so during the last two or three years, which had been admitted ou all sides to be the worst experienced m New Zealand, ho was sure it would do so m future years. He wished to lay before them alao too fact that should the Board strike a rate of a id m the £ it would give close on £7003, which, with the revenue, would bo found sufficient for all requirements. Many of the ratepayers, m fact, would not havo to pay more than 4Jd per aero on their land during ten years, and, he asked, would this affect tliem seriously or not ? Even if it did affect tho publio, they had already benefited by the freights being now so much lower than they had been, and, also, through the lowering of tho charges for landing and shipping, which since 1881 had saved them no less a sum than £4000. Ho did not think, taking the whole district through, that there would be found ono man m a thousand who would disagree with the wish of the Board to raise £100,000. (Hear, hear.) Mr F.lworthy said his opinion was that to borrow £100,000 was an excessive amount for this district to commit itself to just now. Remarks had been made that the port benofited vastly by the works already done m the harbor. No ono combated such remarks, and ho was sure no one could be found who appreciated them more than he did. He quite agreed that the £100,000 had been judiciously expended ; the only point to consider was whether it was not time to Btny our hand ? The harbor works at present allowed a. man to send away his meat, or wool, or grain with the greatest possible facility, and this ought to eutllco for the time being. Ho was glad to Bee Mr Talbot and the other speakers cutertaiu such a proud I and hopeful view of the future. (Hear, hear.) He (Mr Elworthy) did not hold that view. He contended the district did not want another £100,000, and if any member could show that it did, and that such an amount of money could be profitably spent, no one would go mere strongly with him that he (Mr Elworthy) would. Speaking of tho statistics quoted above ho feared they would not " hold water ;" tho Bo,ird had nob yet felt tho bad times, nnd therefore tho statistics wore compiled previous to the effect being felt. (Mr Jonas : Not at all.) Borrowing for prospective trade ho thought wns quite a raistuka. When traderau up to the facilities they now possessed ho would be quito ready to carry out further works ; but lio was entirely against a large quontity of material lying idle upon thoir hands. Members had talked about getting inonoy ot 4 per cent, but ho thought such a rato was very improbable, particularly if they tried to iloat the loan at par. He thought by far tho wiser courso was to wait for a time. Tho Act enabled them to borrow £100,000, but he saw no necessity for it whatever. Let tho Board nsk tho ratepayers to consent to tho Board borrowing £50,C00 and let the remainder stand m abeyance. (Mr Jonas : And waste all your inonoy on loan agents.) It would cost no more m his (Mr Elworthy's) opinion to float £60000 than £100.000. By borrowing tho smaller sum money would not be expended uselessly, and they would all go to work cautiously ; therefore, ho would onrc more ask them to pause and consider well their positiou, boforo giving their sanotiou to tho borrowing of the larger amount. Mr Gray supported tho motion, and asked if they had not taken a " prospective " view of trado would they ever have put a block down? Ho thought no better answer, was given to tho question of continuing tho works than that contained m tho Chairman's report. Mr Talbot m his remarks hod dono the matter justice, nnd ho (Mr Gray) thought they should not take up moro timo by sitting there und debating moro nonsense. (Hear, hear, and cries of " Oh ! dear !") He for ono thought it was clearly necessary to borrow this money and spend it m improving our shipping facilities. The production of tho district was now great aud likely to bo still greater. Ho would remind them that when last thoy went to the ratepayers about a loan many hod said "Why don't you go m for £200,000?" (Ironical laughter and opplauso.) Mr Elworthy lind intimated that the matter was too chimerical to speak about. Ho could ossuro Mr Elworthy that bo was quite wrong, and did not know anything »feout the

money market whatever. He (Mr Gray) was Buro tlia ratepayers would give an unanimous assent to the Board's proposal. He did not believe m people who were overcautious. They were to be found on erery public body " cronkinz, croaking ;" he had no sympathy with them, and if they did not go along m the march of civilisation they must drag behind m the mire. In conclusion Mr Gray said he had great pleasure m supporting the motion. Mr Wilson was against borrowing £100,000, as lie thought Ihoy were going rather too fast. He quite admitted that during the last two yenrs thu tonnage visiting the port had increased, but during tho noit two years it was quite probable that it would decrease. (Mr Jonas : Doubtful.) He thought considering all things it was not advisable to spend more money than was required. Grain shipments had of late much decreased, and at present thore was no prospect of things brightening m Una respect. He contended they had facilities now quite good enough for all shipping requirements for fully three years to eomo. He agreed, however, that it was necessary to do some dredging, and to enable this to be done, he would support the borrowing of £50,000. He questioned very much whether the ratepayers would agree to the borrowing of the larger sum after tho way the Board had broken fuith with them respecting the sinking fund. Mr Acton said ho certainly was not m favor of borrowing £100,000. Ho had not the slightest doubt that individually, collectively, politically and socially, they were too fond of borrowing. (Mr Jonas:. Such is life.) Mr Talbot had spoken well on the subject-, but he (Mr Acton) could not agreo with him. Some members eeenied very Banguiue about tho matter, and epoko of the increase m revenue, but he could tell them that Kb present farmers had very little to encourage them to look forward to brighter things m the future. Mr Jonas had over-powered them with a mass of figures, but he (Mr Acton) was obliged to state ho could rot make bead or tail of his calculations. Xhen another member got up and said it was un utter waste of time to debate the £100,000. This struck him as being a peculiar, not to say reckless, way of discussing such an important question. But it was only au instance of how . large sums of money were invariably dealt with ; m fact, the larger the amount, the less careful was it likely to be discussed. He contended they should borrow £50,000 now, and then when this was expended, and it was found necessary to still further extend the works, borrow tho other £50,000. Coming now to the rate to be levied, he confessed ho could not see how Mr Jonas arrived at tho conclusions he did. (llr Jonas : You have had no financial experience, Mr Acton, which is unfortunate.) He (Mr Acton) did not agree with Mr Jonas's remark. He thought his financial inexperience had been rather fortunate than otherwise. Speaking of the Chiiirman'a report, he 6aid it should simply have contained facts, not recommendations about tho future extension of works and the way £100,000 should bo expended. He once more hoped members would be decently cautious and take warning ; rot go m for borrowing, which was a perfect curse to this country. He would move as an amendment — That section 2 of tho Chairman's statement bo amended by inserting £50,000 m place of £100,000, to 'be thus expended : — 2f Oft of Breakwater ... ' ... £22,000 200 ft of Moody wharf 5,000 Dredging 21,000 Contingencies , 2,000 Total £50,000 Mr Jonas remarked that if Mr Acton desired a full explanation of the figures quoted he had only to call at his (Mr Jonas') office and he would be most happy to give hin one. Mr Hayes supported the motion, but regretted there was a division on the matter. He entirely disagreed with Mr Acton about the way of borrowing the money, and thought they had sufficient control over themselves not to deliberately fritter away £50,000. They should borrow the £100,000, and when they had spent the half of it, and found they required more, they would have ample funds m hand to keep tho works going. Ho quite agreed with the remarks of Mr Talbot, and maintained if they stopped the works now they would be breaking faith with the ratepayers of the district. Large undertakings hid been started einco the harbor works were begun, and unless tho Board went on with, them these undertakings would be rendered useless. He was quite surprised at the opposition shown by eomo members, and. characterised it as an attempt to paralyse oi stop the works. (Messrs Acton and Klworthy, " No, No.") In his district (tho Waimate) he had not heard a single dissentient voice i all were m favor of the works being carried to completion. They should borraw tho £100,000 as it was absolutely necessary to provide accommodation for tho vessels and large steamers that now visited this port. To do this he felt certain would take the full amount the Act empowered them to borrow. Mr Kelland quite agreed with Mr Hayes, and said that it would be simply ridiculous to suspend operations at their present stage. The works must go on, and to execute them well the Board were justified m raising tho £100,000. [Mr SI worthy : I suggest half-a--million. (A smile.)] In his (Mr Kelland's) district the general impression was that tho Board should borrow the sum they were empowered to borrow, not less. After Mr Hayes had niade a short explanation to Mr Acton of 6ome figures quoted by him (Mr Hayes), Mr Talbot replied at some length. He was entirely against borrowing £50,000, and providing a sinking fund to benefit posterity SO years hence ; and after Messrs Jonas, Acton, Gray, and Hlworthy had shortly explained matters, the Chairman roso and quoted from the Act to show Mr Acton that the etatemcut drawn up by him (the Chairman) was strictly m order. He was against £50,000 being borrowed, and said no loan under £100,000 would bo quoted or recognised at Home. He thought recent events showed that sinking funds were not required ; at any rate it was not necessary just now for them to saddlo themselves with a pinking fuud. Ha thought all ware agreed that, tho works should be extended, and was surprised to see opinions so divided. (Hear, hear.) The amendment was then put and lost. On the motion ' boing put it was declared carried, the voting boing : — For: Messrs Hayes, Talbot, Acton, Gray, Kelland, and Jonas ; against : Messrs El worthy and Wilson. Mr Acton remarked that ho had had Ins fight and last it. He now perfectly agreed with tho Board's proposal to borrow £100,000, and should do all m his power to help them carry it out. . Tho Chairman's report was then adopLod, and the Board rose.