POINTS TO “FAIR.”

Star (Christchurch), Volume LXVI, Issue 20632, 5 June 1935, Page 10

POINTS TO “FAIR.”

Shipping, the Barometer of Trade. REASSURING REPORT. If shipping returns can be accepted as a barometer of trade —and they generally are—then the review made to-day by the chairman of the Lyttelton Harbour Board (Mr E. J. Howard, M.P.), of the port’s working for the last eight months, must make reassuring reading. Ordinary cash receipts for the period were £63,339, and for the corresponding period in 1933-34 £56,815, said Mr Howard. Expenditure had dropped from £64,610 to £55,978. The cargo passing over the wharves during the period October, 1934, to May; 1935, was compared to that of the corresponding 1933-34 .period in the following table - Imports. 1934-35. 1933-34. Tons. Tons. British 35,775 34,221 Foreign 83,189 60,018 Intercolonial . . 35,309 27,470 Coastal 82,182 77,388 Total 236,455 199,097 Exports. 1934-35. 1933-34. Tons. Tons. British 39,307 41,951 Foreign 9,679 5,288 Intercolonial . . 4,538 4,436 Coastal 124,744 114,519 Total 178,268 166,194 The transhipments amounted to 1911 tons and 1635 tons, which made the t0ta15:—416,634 for 1934-35 and 366,926 for 1933-34, an increase of 49,708 tons. Overseas Tonnage. “ We know’,” said Mr Howard, “ that shipping, especially British shipping, has had a very lean time during the past three years; we know that several of the vessels regularly trading between New Zealand and England have actually come out in ballast for the homeward loading. It is good, therefore, to note at least some signs of increased oversea shipping tonnage as well as increased cargo tonnage, during the periods which I am reviewing.” He quoted the total number of ships for the period as 944, and the tonnage as 1,365,351. the previous corresponding period’s figures being 983 ships, and the tonnage 1,343,650; so that w’hile the number of ships was fewer, there w’as an increase in the actual tonnage. Financial Side. Discussing loans and sinking funds, Mr Howard said that while conversion had been undertaken on a basis of 4i per cent, ample loan money on firstclass local body security seemed to be available at 3* per cent for long term or table loans.