A YEAR'S TRADE.

Dominion, Volume 3, Issue 674, 26 November 1909, Page 8

A YEAR'S TRADE.

1 PORT STATISTICS. , I _ A RECORD YEAR FOR WOOL HABBOUB BOA.JD FINANCE. Yostorda/s meeting of the Wellington Har boui Board hud before it the secretary's sta tistical summary for the year ended, Septem ber 30, 19P9, and the chairman (Mr. T. Jl Wilford, ILP.) embraced tlio opportunity t< make an interesting statement on the financia position of the board. Although the trad< of the port showed decreases under severe heads and the finances showed a small dofici on the year's working, Mr. Wilford and othei speakers considered that tho general positioi justified them in taking hopeful views. Imports and Exports. The Becretary'a report showed that the ton nage of goods inwards was.as followst— 1908-9: ■ ■ -1907-8 Tons. Tons. Foreign 132,036 169,238 Colonial and Coastal 162,111 187,828 Transhipments 416,034 129,690 Totals — ~ 410,241 486,756 There was thus a decrease of 76,515 tons, oi 15.7 per cent. The prewous year's returnshowed an increaso of 53,824 tons or 12.4 pci cent, and in '1906-7 the increaso was 40,60 tons or 10.3 per cent The decreases for 1908-9 in detail, are as follow.— Inwards, foreign . 37,142 tons or 21.94 per cent Colonial and coastal 25,717 tons or 13.69 per cent Transhipments .. 13,656 tons or 10,53 per cent Tho tonnage of goods outwards was as follows:— 1908-9 1907-8 tons tons. Foreign - -. 44,381 39,158 Colonial and coastal 105,773 105,135 Total 150,157 144,293 It will be seen that tho exports from Wellington have increased by 5564 tons, or 4 Oβ per cent. Tho increaso of the previons year was 9212 tons, or 6 8 per cent, and in 1906-7 there was an increase of 10,982 tons, or 8 8 per cent. More Wool, Less Hemp. The exports of wopl and hemp are shown together in the secretary's statement, and the large lnprease. in. wopl is almost counterbalanced by tho decrease in bomp 1908 9 1907-8 biles bales Wool .. ... 103,888 139,793 Hemp _ 64,b"3 78,301 Total 218,561 218,094 Wool thus showed an increase of 14,095 bales, or 10 08 per cent The previous year's in crease was 10,127 bales,. or ,7.8 por cent. In 1906-7 there was a decrease of 4090 bales, or 3 0 per cent The decrease in hemp exports was 13,628 bales or 17 4 per cent The previous year also showed a decrease of 90-19 bales, or 10 8 per cent. In 190G-7. there was : an. increase■ of ;4005 bales, , or 4.7 per cent. Taking wooL and hemp together, the.net increase for the year 1908 9 v, as 167 bales, or 021 por cent The previons year's increase was 578 bales, or 026 per cent In 1906-7 there was a decrease of 91 bales. Coal. Tho figures relating to coal are as follow — 1908 9 1907'8 \ Tons Tons Passing over wharves and pajmg wharfage . 144,397 158,915 For' Government — exempt from wharfage , 41,383 28,965 Transhipped over side at wharves, no charge 224,721 187,233 Transhipped ; over side io stro/im, no charge 30,528 67,924 Total 411,029 443,013 Decrease, u>slß tons, or 913 per cent previous year, increase 13,330 tons, or 9 2 per cent, 1900 7, increase, 14,837 tons, or 114 per cent; i j Timber. The following figures relate to timber — 1 ' ' 1908-9 1907 8 Sup ft Sup ft Inwards „ 10,30.1,045 29,960,114 Outuaids ... 1,368,870 1,7C9,45i 17,732,915 Decrease, 14,002,65 , ), or 4112 per cent , previ ous year, increase, 7,02ff,315, or 28 43 per cent, 1906-7, decreaso, 1,198,607, or 4 6 per cent Tonnage of .Vessels. Tho vessels arriving in port during the year shew a decrease both in numbers.and in tonnage, as follow:— . Steamers No Tonnage 10081 -- 3,323 2,821,500 1907-8 3,316 2,833,285 Docrease _ 23 11,735 Decrease, per cent 068 0 41, Sailers No Tonnage 1908 9 ....... GO 10,499 1907-8 . 112 33,053 Decrease 52 13,504 Decrease, per cent iG 4 41 Total No Tonnage 1908 9 3.583 2,841,0*9 1907-8 . 3,458 2,866,338 Decreaso 75 25 289 Decrease, per cent 217 088 Tho average registered tonnage of vessels for tho last four years was as follows —1908 09 j 840 tons, 1907-08, 829 tons, 1906 07, 798 tons, 190006, 735 tons I COMMENTS BY THE CHAIRMAN. The chairman (Hγ T M, Wilford, MP), commenting on the above snmn\arj, said that the board s revenue for the jear under all heads was .£165 000, showing a drop of -811,000 from the previous year Ihis was largely accounted lor by the decrease in tho tonnage of goods inwards and transhipments, which ropre-ented a drop of £U>W in rovonne lim ber inwards showed a drop of over 13 million superficial feet, and that meant a falling off in the board's revenue of X 1625 The wool output, 153,888 bales, was a record, but tho increase was to a groat extent negati\cd bj the falling off in hemp 'I ho falling off in timber exports accounted for a drop of i! 1620 in revenue He wished to congratulate tho board on having foreseen the drop in imports, and exercised a cautious policj during Cie past year The board did not estimate that tho drop would be so great as it had proved, but the board had at the end of tho previous financial year appreciated tho fact that it was coming, and had fronted its estimates accordingly The working oxpense l ; had beon high, but there had been due regard; eo far as the permanent staff was concerned, to keeping up tho rate of pay, and working along the bosl possible lines It was curious that the tonnage of vessels entering tho ohlcf port of the Dominion seemed to keep nuini? fairly steadily for a' number of years, and. th'«n como to a etandstill Thus in 180192, in 1895-90, and now again in 1908-09, thcio wne practically no rise.

rise. ■■ ■-~ •-, •. . ■. ■"•■ ■■■ ..-,-.• .; . ~ , Tho Board'« Finances, ■..■*..'-. The assets/of the board on September 30, 1909, were estimated at .£1,039,383. while the liabilities wore ■£695,910, leaving on ostimated balance of .assets over liabilities ,of ,£343,476. A large amount of money.had boon sot aside for depreciation and.sinking funds, The raorioy earned by the einking funde'during the year woe J29500, and this was oTidorico that that part of the finances' had 'been carefully considered. The revenue- of the-board ha'd suffered to the extent of £W0 from two unavoidable caused. The Gdvornmont's purchasb: ol the Manawatu Railway had deprived tho board of JBSOO a year,;whicli was formerly paid by tho company as wharfaptp on coal, and nnother XSOO on general goods imported by tho company. There was also a loss of .by tho J Shed fire, which could not' have beon fore!seen.**lf would be: .seen that' tUo-board had sustained the -following -losses of rovomio:— Charges on imports >E4600, timber .£1825, from Hanawaru Enilway JCIOOO, ,J iilicd firq i! 500, making a total loss under those hoadiiißs of over £7700. ■■'■ Notwithstanding this, the deficit on tho year's working was only J!liß2. . ■

•'A' Policy of Prooress with Caution." A very important aspoct of tho matter, and ono which ~concerned tho public, was' that' in the previous year tho, imports for; tho whole Dominion exceeded the oxports by .£1,380,281, whereas, during tlio year undor reviow, the exports oxcecdod the imports by -£3,784,151. ■Wnon" the exports of the Dominion wpiit np, and the imports down, that'.irafe-'a'good-in-dication of progress, though it did not mean an increase of the: rovonuo of a harbour board. After: loolcing carefully ■ into the position he saw no reason to do other than advise—as ho had during the past two.years, with tho wholehearted support of the board—a policy of progress with cantion, such , an, hao; , onabled the 'board to-.weathft: the late d?jt/ Aon .wUk.Aaiv. ;

a nominal loss or deficit. Had it riot been for the putting: in hand of .works 1 quickly .during the winter for the '.unemployed,! the year would probably have ended with a small profit. His term of office would expire'next February, and he wished to say now that the policy for the future should be one of. progress with great .cautipiu •■'••!.•..•.: L.'•;■ :■.>/..■.... ' The Lesson of the Past, : . The lesson of the past year was that there were 'always some, unexpected, circumstances that should lead them to underestimate father than overestimate'the possible returns. . He would suggest'that the chairman and members, when framing the estimates for the coming year, should, carefully consider the. prosecution of'non-revenue producing works, bearing in mind that practically 2s. had to be added to every, pound for paying interest, sinking fund; depreciation, and -fixed charges. Any programme'of expansion must .be considered' in the light of what the-interest on the money to. be-spent would mean to the consumer of: the. goods that would come over the, wharves, because, the .board,-' having practically ■no ■ endowments, had to obtain ; the'money. to pay such interest ■ from the., charges, which itimposed. :■• At tho beginning of ■ the year the .merchants of the. • city were informed by. the chairman that the board did not propose to , ' pnt up the; charges .during the year, and though some of the charges might have.been put up without pressing on particular industries, it was recognised that the.merchants-had a,right to expect, that such a statement by the chairman would be •adhered to. He did not'wish to- be unduly optimistic,'bnt after two years."of close attention!'to the board's affairs, he was; satisfied tlat' there, was no reason to anticipate anything other than a bright future for the board and for the Dominion. ■■-■:" OTHER MEMBERS' VIEWS. ; Mr. C.-B. Daniell said-he wished to jqin.the chairman in congratulating, the board on-its position: It-had. come through, the year much better than he expected. ~... Hr.B. Fletcher also congratulated the board on I having come ■ so' well ■ through the. storm, which the : Dominion had experienced,', and in which the bottom had fallen*out.of the import, trade. Tie, •: chairman had . given : -great,, atten? t'ioh. to ■ the' iaffairs of the .board, and had sett an. example which it-would be difficult for his successor to follow. He agreed ■ with the: note of caution sounded by the chairman, but they, must also study, the natural progress. of ; the port ■'.]; Many,,".works .would . have'.". to/ be done', so as-: to'; keep. Wellington' 'in : its position as' a , i'great port;'Hβ hoped the board would hi particularly, careful, in spending 'money -on', struotures. that would not ■ bring- in any return. With regard to the large amount.-of. coal discharged over ships' sides at the wharf to eels;alongside;(last'year'it was , 750,000 tons), he thought the/board should get some small revenue, from that source. H« would not suggest that coal transhipped in the stream should be Bubject to a charge. '. '.' " •"'.'■■■" . Jlr. M.' Cohen said' he was relieved 'at.' the results ■ disclosed .by the chairman, the apparent loss being so small. ■ 111 regard to the decrease in hemp"products, ; he wnssure-members, of the board would ;be glad to know thai thero was' every, prospect of the; exports ' of hump fully recovering this year, '.'There should , be no further charges on shipping. ' He would like Jβ see'the.charge for water supplied to ships reduced. The City,' Council .was charging ; the Harbour Board three times the rate.for water, that it charged to the neighbouring boroughs. He~ would bring this matter before the board again.- The increased salaries paid by the board, during the:past year should be taken account of when financial posi ; ,tion. The increases-...were, right - and, proper,, but they-had necessarily;increased the,working expenses.'.- ■ ■'.' '..''-|' ... ~'. -.. '■:":■".