MR W. J. WALTER CHAIRMAN AGAIN.

Star (Christchurch), Issue 17862, 2 June 1926, Page 9

MR W. J. WALTER CHAIRMAN AGAIN.

HARBOUR BOARD HOLDS ANNUAL MEETING. Mr W. J. Walter was re-elected chairman of the Lyttelton Harbour Board at its annual meeting to-day, and re-

ceived general congratulations on his work of the past year. The annual report and balance sheet was as follows : Secretary’s Report. The report of the secretary and treasurer showed that the board’s net credits at the beginning of the yea,r were £236,316 15s Id, receipts for the year were £138.131 12s 3d. and, the expenditure amounted to £147,222 3s sd. This left a total net credit at the end' of the year of £227,256 3s lid, or a decrease of £9090 11s 2d in the bqard’s credits during the year. This sum is a- set off against the board’s liabilities on account of loans. The special renewal and marine insurance fund had increased from £76.249 18s 9d to £91,904 14s lid. the special accident insurance fund from £8632 19s 5d to £9786 14s Id, and the special fire insurance fund from £2332 8s lOd to £2726 9s 2d. After making the necessary deductions for the previous year’s outstanding accounts, since paid during the the year 1925, and taking credit for the earnings due to the board, but not received during 1925, the board’s ordinary revenue amounted to £109,638 14s lOd. The wharfage return shows an increase of £1672 3s 9d, due to an increase of 9747 i tons paying wharfage. The value of imports into the port was £7,641,331, an increase of £676,237. The value of the exports was £6,385,286, .nd increase of £135,434. The number of vessels entering the port during 1925 was 15.55, an increase of three, while the total net tonnage entered inwards was 1,921,737, an increase of 53.723 tons as compared with the previous year. The statement shows that on December 31, 1925, the board’s assets exceeded its liabilities by £740.936 9s 9d, an increase of £6636 15s 2d. The balance in the sinking fund increased from £151,286 3s lid at the end of 1924 to £160,208 2s at the end of 1925. The average rate of interest now being earned by the fund was about 5.19 per cent. The value of .the board’s properties, plant, vessels, etc., was £900,614 12s 3d. The balance of earnings over expenditure in connnection with the grain stores was £1629 11s 7d, or £382 ISs 6d more than sufficient to cover ihterest and depreciation of the stores and appliances, while similarly the credit balance in the cool stores account was £1221 11s Id, or £356 12s less than was necessary to meet interest and depreci ation. The quantity of grain, etc., received was 11.499 tons, an increase of 3389 tons on the figures for 1924, and in the case of the cold stores there was a decrease of 107 boxes of butter and 3756 crates of cheese. During the year the market had been unfavourable to the sale of debentures at 5b per cent, and only one debenture of £SO had been sold. Engineer’s Report. The engineer’s report stated that the year’s operations had comprised the maintenance of the depths in the entrance channel and the approaches to the wharves and increasing the depths at the berths. The future work of the dredge would amount to 560,000 tons per annum. Previous experience indicated that this output would be hardly sufficient to maintain the depth for the harbour, and there would certainly be no margin for further improvement in depth. Consequently provision must soon be made for the acquisition of a new dredge capable of carrying away more spoil in each load and of steaming much faster. A plan of the reclamation area showing a layout for business and residential sites was prepared and approved by the board, subject to modification in accordance with the requirements of prospective users of the land. The board was approached by the representatives of the various oil companies trading in the Dominion. Three suitable sites of approximately two acres each had been marked off, and the leases of the sites were to be offered at auction at an upset rental value of £l5O per acre. He would prefer that any further capital outlay should be incurred in providing a tool capable of giving deeper water, than in reclaiming land, unless such land could be connected with the work of the pdrt. Speaking to the annual report and balance-sheet, Mr Horrell said the staff was to be-’ congratulated. One matter to be considered was the disposal of the dredged soil. It now cost 5d a ton to take out to sea, and it was then lost to use. The board should look around for fresh reclamation or other useful ways of disposing of the soil. The speaker thought the day would come when a road would be constructed across to Quail Island and on to Charteris Bay. “ \Ye won’t see it,” said Mr IJorrel), “ but it will come.” “Sav ‘l,’ not * we,’” interjected Dr Thacker. Mr H. Holland. M.P., also congratulated the staff. He remarked that the board was not much use to its legal advisers or bankers, which reflected credit on the way the board’s affairs and finances were controlled. He congratulated the board also on the progress that has been made at the port. While the electric cranes did not pay, they were not expected to and were necessities. Finally, he congratulated the chairman on his comprehensive report. Dr Thacker referred to the Saturday afternoon work question, and urged that a team be provided to clear ships. The port should not be held up or trade driven from the port.. He spoke also of wharf construction, and emphasised that customs sheds and stores should be provided for. The goods must not have to be taken eight miles lor sorting; it made commodities dearer to the consumer. It was no use reconstructing the wharves without legislative permission for haulage vehicles to go right on to the wharves. It was no good electrifying the tunnel or constructing a traffic road to the port unless stores could be built on the wharves. Mr 11. T. Armstrong, M.P., said the port was being rapidly brought up to date. The progress of the port had not been kept back by the board, but bv the railway system for one thing. It would not be an up-to-d?te port until motors had access to the wharves, and for that a tunnel road was wanted. Simply electrifying the railway line was not going to do much in improving the port. Referring to the reclaimed land. Mr Armstrong said the board should not he in a hurry to have that occupied. He was opposed to having the spoil taken to sea, but it should be used for further reclamation. He

hoped Dr Thacker would not be understood in his remarks regarding Saturday afternoon work. Things were going well there now, and the board should not interfere. If a squad of men were put on on Saturday afternoons it might be found that very little work would be done on Monday afternoons. In reply, Dr Thacker said a report showed that the men did not consider the financial aspect, but were definite in not wishing to work on Saturday afternoons. He was not reflecting on them. The Hon R. Moore said the position disclosed was very, very satisfactory. He stated, referring to the electrification of the tunnel, that a meeting in Christchurch, attended by the Prime Minister, had unanimously approved of electrification in place of duplication, and the Prime Minister should not be censured by the board. Mr M’Alpine was the next to offer congratulations to the chairman and staff. The way the work had gone on spoke volumes for the heads of the Harbour Board. He mentioned that some of the oil companies had made application for leases of part of the reclaimed land, but engineers had advised the companies not to put up heavy oil tanks there at any rate. If land were not provided the companies would go to Timaru, and if they did there would be a big loss to the port. Railway facilities to that land or other land should be provided. The tanks were safe and not a menace. The board should not let things drift. Mr W. T. Lester said he could find nothing in the report to adversely criticise, and he congratulated the chairman. He thought the board would be wrong in moving in the direction of loading and unloading vessels in the port. The engineer’s action showed that he wished the working of the port to be smooth. Mr M. J. Miller said it was felt that it was wanted that Lyttelton should be kept right up-to-date. The board would have to consider reclamation, but he felt that the board was inclined to push ahead of its time. He felt that every part- of the seventy acres reclaimed would be wanted in a few vears. Congratulations were also offered by Messrs J. Storry and XV\ J. Gallagher, and Mr Walter briefly replied. The report and balance sheet were adopted. ELECTION OF OFFICERS. Chairman —Mr W. J. Walter. Vice-chairman—Mr R. Galbraith. Other committees were r.e-elected«