FOR IMPROVEMENT.

Timaru Herald, Volume XCVIII, Issue 18084, 2 June 1923, Page 10

FOR IMPROVEMENT.

T.IMARU HARBOUR. ’ STATEMENT BY AIR D. C. TURNBELL. Air D. C. Turnbull, chairman of the Timai'u Harbour Board, made a sfcate- ; ment at yesterday's meeting of the ; Board, when he outlined a comprehensive plan for harbour improvement and extension. Air Turnbull said — | “The Board will very shortly be com- ; polled to consider plans for extension | and improvement; and, speaking as one , who has watched the harbour from its ! commencement, and before there was a harbour, I. am of opinion that the shoaling is now coming back from the north, and the depth of water between the south end of Dashing Rocks and the breakwater is decreasing, and a mole will have to be run from Basiling Rocks in the very near future. The scheme will cost money in construction, but will save money in dredging. “Your sinking funds are accumulating, and by the time the work is finisliI ed the accumulated sinking funds will j amount to between £’60,000 and £BO,OOO, and would counterbalance the cost of construction. In 1936 the sinking fund should amount to £IIO,OOO. and as your assets will be larger the loan should be a good security ougerlv sought for by Sinking Fund Commissioners of other local bodies. UNLET SECTIONS. “I have read the various legal opinions in regard to the Borough Council’s rating demand, and apparently the dispute may continue indefinitely. I suggest that as the Board and Borough will never pull together as Jong as the dispute continues delegates from the Board and Council should meet and endeavour to come to an amicable settlement whereby the Board j pav, say, £IOO per annum rates on the | whole of their 11 nlet sections: and if an I agreement is arrived at, that the seciions be'at once made available for leasing. If no agreement is come to, and it/beconres a legal battle, the Board could probablv make it as unpleasant i for the'Council as the Council could for the Board, as apparently the Council have overlooked that thev are tenants of the Board, and the welfare of one. is the .welfare of the other. ESTIMATES. “You have the estimates for the year before you, and will note that they provide for winding up this year with a credit of £900; but I think this is an estimate that may be improved upon, as from indications in the building trade imports should show considerable increases, as the buildings to be erected all mean more revenue for the Board while being constructed, and alter that they have to be filled.. Although the estimate does not provide for the removal of the harbour improvement rate, l think that if the charge were removed it would balance itself by extra cargo passing over the wharves, and as the. amount in question is approximately j £ISOO for the remaining six months of t the vear. I hope the Board will do away wi tli a very irritating and obnoxious I charge, both from the Boards clerical ’■ and the payers’ point of view. Inclucl- ; ed in the estimates is a sum of £99U for wharf renewals. If this is charged tieanist wli&rf renewals account, as ; it . should he, the £9OO surplus will ' amount, to £I9OO, against which I sug- • erst vou deduct the harbour improve- ! 'ment'rate of £ISOO, and if the antici--1 pat-ions are realised the year ..would close with a credit of over £3OO Per- ! sonally I think that this year”will take i care of itself very well, on the iore- : going estimates.

FINANCIAL POSITION. “The Board are in the position of a man mho signed a P.N., and then said: ‘Thank goodness that’s paid;’ as xhev have borrowed Irom their own reserve accounts as follows _

“This has been borrowed, and no interest is being paid; consequently, the reserves arc not growing as they should. Looking at the position for the last few years it seems similar to a ship owner putting on patches and paint, and then making himself believe that lie has a (rood ship. The actual value of the reserves to-day isWharf renewal £•3663 10s, Dredge 350 £10,234 “Taruwlia” £1143, “Elsie Evans” £Qn os, Employees’ Assurance £591 ss, Marine Insurance £6542 12s 2d. “The question to be faced is whether we will continue the present position or restore it to a' satisfactory basis. The Marine Insurance Fund of £6542 12s 2d contains £6OOO obtained for the block of land soid to the Railway Department in 1911, so it has not earned much interest in eleven years. In any case it is practically property that is part of the assets of the bond holders, and should not be subject to possible claims under insurance. This money in 1912 was on the books of the Board as an asset under the heading ‘Mortgage Account,’ and you have now transferred it to a fund which you are using for the purpose of risky trading. I suggest that the balance of the”loan due in 1936, be sold, and the monev utilised for replacing the amounts taken from reserves, except in the case of the Wharf Renewal Eund which might be closed by expending the money at credit, on wharf renewals, as when the account was originally started there was no Sinking Fund Account ,whereas to-day there is, and any renewal of wharves can be made and charged to the General Account, as was the custom in 1900. MORE TRADE WANTED. “The trade of South Canterbury, from Waitaki to Tiinaru, should come through Tinraru, and in order to secure it, it will he necessary to reduce dues on cargo. The Harbour Improvement Rate has become a charge payable on

cargo, consequently the wharfage rates to-day are excessive, and probably higher than the average oi the other ports in the south Island. In order to make the port attractive to the northern portion of our district-, I suggest that we must do away with the,Harbour Improvement JJate, its other ports have done, and review our wlinrlagerates to meet competition. To do this will mean that temporarily you will lose some revenue, and to provide lor this I. suggest that the question of rate bo considered. At present rye collect |d on tliei capital value. Ibis represents, on a farm, or value of

“Tt we collected another 1-132 nd of penny, this would produce from £2OOO to £2b()D per annum, and would increase the rate collected iroiu the

“This does not represent a penny per week to the average ratepayer, and the amount collected will represent et ficieucv, as again inefficiency of the. Harbour. ~ , „ p “Should you decide on a reduction or wharfage rates, where necessary 1 suggest that a table be prepared h.> the secretary gi ring the cost oi and wharfage to,Hinds, J.mwald and Ashburton, from 'iimani on various classes of cargo, and that the table be sent to every business man m the tow ns “The question of dues, either on cni<ro or ships, is one that has to be dealt with from a strictly commercial point of view, as in regard to cargo imported, the consumer pays ioi the excessive dues, ami for cargo exported the producers have to aocept a lower price owing to. the merchant fixing his cost when selling. And m leg.ud to ships, in busy times when f plentiful, they will naturally give, piference to the cheapest port, and you will in consequence, Jose dues on ships and occasionally the producers will lose :th “The ia above. figures will not reduce the fees payable by ships, ant, all th suggested reductions on dues are ioi the benefit of consumers and piodU[tC was decided to hold an afternoon sitting of the. Board on the day of the next ordinary meeting, m oidei to discuss the .chainnftjTS proposalis.

£ s. d. Wharf Renewal • 367 1 1 Dredge “350” 9319 7 4 Dredge “Taniwha” 1084 10 2 “Elsie Evans” 256 12 0 Employees’ Assurance 454 16 8 Marine Insurance Accident 4733 4 8 £10,215 11 11

’ £ s. cl. £2000 1 U 0 £3000 Ill (l £-1000 2 1 s £5000 2 12 1 £0000 3 2 6 £10000 5 4 - And oil a town i .wollirijj; valued at £1000 0 10 o £2000 1 0 0 £3000 Ill 2 £1000 2 .1 8

s. d. £1.000 man 2 8 3 10 5 £'.000 man 5 £3000 L-iOOO man man ;;; ;;; io 26 £10000 man 0