WELLINGTON HARBOUR BOARD.

Dominion, Volume 3, Issue 718, 18 January 1910, Page 4

WELLINGTON HARBOUR BOARD.

The very oomploto statement of the position of the Wellington Harbour Boarcl presented to the Board yesterday 1 , 7 by : its; secretary, , Mr. Nicholls, is well worthy of close attention ffora tho public. Mil. Nicholls has ciompilod a plain, straightforward . report reviewing the year's operations ifi - a lucid' manner, and incidentally inalring it very clear. /that th<! Board has reached a critical stage of its existence. For a great many years the port of Wellington has been pro-

grossing in a striking manner. New wharves havo boen built,, reclamations carried out, cargo-handling appliances procured, and a large and costly dock work put in hand. At the pfftsent time the Board is committed to several large undertakings, and Conditions have arisen which iniporatively demand that it should seriously take stock of the position;arid carefully; plan Outfits future policy. The cxteiisive iffiprovemoiits to the port . have, - in most cases, meant the incurring of obligations which have imposed a heavy toll on: the; income of ..the Board. While much work has been carried on out of revenue, borrowing has been heavy, and to quote the secretary's report:

The inevitable growth of the standing oharges for : interest, sinking fiind, and depreciation consequent upon the' Very large capital: expenditure i;to which, the Board' is committed; for graving: do'ok, Evans Bay , reclamation workSj Waterloo Quay reclamation, etc., vwhioh ' works cannot bo interest-producing for some years to come, make it evident ' that the tijne has ' arrived ivhen the Board's revenue, nnist be; largely inbreaeed. : ;y .

It has to be borne in mind that the difficulties of the situation during the past year. were .aggravated by a substantial-, falling .off: in revenue. The depiession throughout the country ncoessarily affected'ths imports and the revenue decreased ,by £11,287, a' startling contrast to the increases:, during: the three -preceding years of £20,178, £14,033, and £16,019 respectively. The profit and loss statement shows a debit .on working account for the year. .of £682. : We havo no dotibt that the current : year will show much better results than the preoeding period in the way of reveniio from, imports, but it must be quite obvious that the affairs of the Board require, very careful handling and that much will therefore depend on the personnel of the new Board. .So far as we'can learn there does;not. at present appear to be likely to bo much competition for office and . the majority of the old members .will probably bo re-appointed or reflected. While . [quite: : willing to concede whatever: credit may be duo to tho present l Board, and some of its members have shown ■ a commendably conscientious - attention .. to , their duties, cannot avoid tho conclusion that there is. much:'room, for imprOvomont, and that the occasion calls for it. On the policy of the Board in- the immediate, future so much • depends 'that every; effort should bo' made to induce men of far-seeing judgment, - sound financial experience, and thoroughly; familiar'with shipping and commercial interests to come forward. •Those;;. connected .with; the interests! named sliould make it their business to bestir themselves in this diroction. Tliere are ox-mombers of the Board whose. past experionco would bo of inestimable - value just now if they could bo induced to offer themselvosi and we would suggest that some -..of theso gentlemen should be approached .on the "question. ' ( 1