LYTTELTON HARBOUR BOARD.

Star (Christchurch), Issue 7623, 5 February 1903, Page 3

LYTTELTON HARBOUR BOARD.

• ANNUAL MEETING. The adjourned annual meeting of/ the Lyttelton Harbour Board was held at 2 p.m. to-day; present— Messrs A. Kaye (chairman), J. Lambie, F. Waymouth, I. Gibbs, W. Dunlop, G. Laurenson, M.H.R., T. M'Clatchie, J. Brown, D. Buddo, M.H.R., J. Hay, J. Connal, J. Grubb and J. Rennie. The Chairman's report dealt at length with the work of the year. The Secretary and Treasurer reported that the Board had. begun the year with a credit balance of £32,221 14b 6d. Tbe cash receipts for the year had amounted to £45,301 9s 6d, making the total receipts £77,523 4s, to which had to be added tho outstanding assets for the year 1902, £3785 14s 6d. The expenditure en the general account for the year had been £53,372 7s sd, and the outstanding liabilities on Dec. 31, 1902, amounted to £13,548 0s 6d, making the total expenditure and liabilities for 1902 £66,920 7s lld- This left at surplus, including £5543 lis 8d (renewal fund), at the close of 1902 of £14,388 10s 7d. On the. special dredging loan account the balance and receipts had amounted to £10,097 9s 9d,, and the expenditure to £6946 13s 6d, leaving a credit balance of £3150 16s 3d. Of the £60,000 dredging loan, £9200 remained to be raised at the end of 1902. The assets of the Board were estimated at £578,923 14s sd, and the liabilities, including the £200,000 and £50,800 loans, amounted to £264,348 0s 6d, leaving an estimated credit asset of £314,575- 13s lld. The estimated revenue for 1903 wa5 '£42,443 and the estimated expenditure £32,240, leaving an estimated surplus on Dec. 31, 1903, of £10,203.