“ Through Fat Years and Lean Years, Trade of Port Has Gradually Increased.”

Star (Christchurch), Issue 18442, 18 April 1928, Page 5

“ Through Fat Years and Lean Years, Trade of Port Has Gradually Increased.”

HARBOUR BOARD CHAIRMAN REPORTS TO FIFTY-FIRST ANNUAL MEETING

U f'-iLOSE examination of tlie V_J of years shows that, tho end ‘ lean ’ years, and groups of gradually increased,” stated the hour Board (Mr R. Galbraith) fifty-first annual meeting of the 1

• wharfage figures over a period nigh there have been ‘fat’ years these, the trade of the port lias chairman of the Lyttelton Harin presenting his report lo the board to-day.

The following members were present: Messrs R. Galbraith (chairman). J. Storry, H. Holland. M.P., 11. T. Armstrong, M.P., E. T. Howard. M.P., W. T. Lester, M. J. Miller. .1. R. Hayward, W. G. Gallagher, the lion R. Moore, M.L.C., and Captain 11. Munro. The meeting to-day was a special one for consideration of the annual report and balance-sheet. A summary of the balance-sheet was published recently. Prior to the meeting, consideration of the reports had been postponed twice, owing to pressure of time.

“ Capital expenditure on new work and plant, and additions to existing works and plant, was £19,664 9s lid, the

THE CHAIRMAN S REPORT. " During the >*ear ended September SO, 1927, the tonnage of goods subject to wharfage dues, which has passed over the wharves was 525,649, the highest since 1923. when it was 564,594, stated the annual report of the chairman (Mr R. Galbraith). The total tonnage of all classes of goods handled over the wharves was 696,232*, compared with 726,975* for the complete year of 1925, and 548,111 for the nine months ended September 30, 1926. “ You will note that the tonnage which paid wharfage dues is less by 170,553£ tons than the total tonnage handled over the wharves. Examination of our returns indicates that this large tonnage which enjoys free wharfage is chiefly Government goods such as coal, etc., which are free under the Harbours Act. This is a heavy annual loss of revenue to the board, and the matter is having attention with a view to action by the Harbours Association. Finance. “The Harbours Act. 1925, which came into operation in 1926, made the financial year to close at September 30 instead of December 31 as hitherto. Therefore our last annual report was for the nine months ending September

£819,233 9s 4d. The assets total £1,252,228 10s 9d and the liabilities £432.995 Is sd, including loan indebtedness, £410.000. “ Contingent liabilities, for which provision must be made during 1925, amount to £43,610 12s 9d, in connection with electric cranes and capstans for the Gladstone Pier, and timber for No. 3 Jetty reconstruction. Trade of the Port. “ The tonnage of shipping entering the port was 1.902,065—the best since 1915 with 1.970,493 tons, excepting 1925, when the aggregate was 1.921,737 tons. Examination of the shipping return shows that, generally speaking, shipping tonnage visiting the port has increased since ISSB—although the progress seems to be marked by definite groups of years, when the tonnage has actually corresponded with the flow and ebb of trade, as follows: 1888-1893 602,000 to 743,000 1894-189 S SOI,OOO to 932,671 1899-1907 1,184.000 to 1.913,458 1908-1914 2.079,539 to 2.195,795 1915-1927 1,970,493 to 1,902,065 “ Within these groups there have been occasional high years with lower 3'ears following, but the increase has been steady, except in the group 19151927, which was immediately preceded by a period of seven pre-war years, each with a tonnage of over 2,000,000. Inquiry indicates that the England-New Zealand trade seems to be settling down to vessels of about 12,000 tons with a maximum of 15.000 tons and a draught up to 32ft. This class of vessel can be easily accommodated at Lyttelton.” MEMBERS’ DISCUSSION. All members present spoke upon the chairman's report. Mr Holland pointed out that the port could deal with about twice as much shipping as previously. Regret that the last twelve years had shown a considerable falling off in trade, compared with the previous twelve years, was expressed by Mr Armstrong, who said that this was accounted for by the land not producing its former amount for export, and was not brought about by any shortcoming on the part of the Board or the port.

30, 1926, and this report is the first for the new twelve-monthly period., and gives opportunity for useful comparisons. “ The year commenced with a debit balance in the harbour fund account of £18,419 8s 3d, which was reduced to £12,769 13s 8d at the close of the year. In the general account our ordinary receipts totalled £108,493 3s 4d, or about £9041 per month, compared with £9233 per month for the nine months of 1926, and with £9IBB per month for 1925. The special receipts were:— Transfers from special renewal fund on account of reconstruction of No. 3 Jetty and electrification and new pumps for graving dock, £21,793 10s sd, and transfer from fire insurance fund on account of board's boat shed destroyed by fire, £4O 17s 4d. “ The income for the twelve months was £107,615 19s 6d, or £8968 per month, as compared with £9339 for the nine months of 1926, and £9136 per month for the twelve months of The expenditure for the year was £100,323 10s 2d, and included a sum of £24,175 12s 9d written off for depreciationleaving a balance on income and expenditure of £7292 9s 4d towards reduction of overdraft, which, by the way, was chiefly brought about in the first case by purchase of. the cranesliip Rapaki, costing £42,000, out of revenue account.

The speaker mentioned the “enormous cost of dredging in the harbour without making any headway.” It was a question whether the depth was even being maintained. “The port has lost 4,000.000 tons of trade in the last ten years, compared with the previous decade,” said Mr Howard. “Lyttelton is not sharing in the increased number of ships coming to New Zealand, and the tendency is to make the North Island a dumping ground for goods.” Mr Miller: We are on a fairly safe wicket financially, though if we went bankrupt to-morrow I don’t know that we could realise the full amount of our assets. (Smiles.) Disposal of the floating crane Rapaki was urged by Mr Hayward, who said that the plant was not a necessary ad-

junct to the harbour work. The crane was not often used, in spite of the companies controlling the larger ships stating that it was very necessary and valuable. The Rapaki represented a capital of £44,000 lying idle, and earning only about £77 a year. He insisted on there being put into operation a comprehensive policy of land reclamation. The reports were adopted.

principal items being Balance on eighty-ton crane £ 2768 12 d. 11 Balance on electric cranes Xo. 6 Jetty 2611 13 7 Yacht moorings 1395 9 li Railway sidings to reclamation area new 1205 7 3 Rat-proof retaining wall 1708 7 3 Gladstone Pier reconstruction 4592 S 5 Xo. 7 Jettv additions 851 10 5 Dredge Canterbury tions addi600 1 1 “ Assets exceed liabilities by