TRADE OF THE PORT.

Dominion, Volume 6, Issue 1701, 18 March 1913, Page 3

TRADE OF THE PORT.

STATISTICS OP THE YEAR. FINANCES GOOD. BUT PRUDENCE ESSENTIAL. INCREASING EXPENDITURE. REQUIREMENTS OF .SHIPPING. The trade of the port of Wellington and the general policy of harbour administration were reviewed at the annual, meeting of 'the board held yesterday, to receive audited accounts and balance-sheet. There were present: Messrs. R. Fletcher (chairman), C. W. Jones, P. C. Freeth, J. W. Jl'Ewen, J. G. Harkness, C.. E. Daniell, AT. Cohen, \V. Hildreth, and R. C. Rentier. Long annual reports from the chief executive officers of the board were also presented with th'o statement of accounts and other statistics. CHAIRMAN'S ADDRESS. A COMPREHENSIVE REVIEW. The chairman moved: "That the statement of receipts and expenditure, statement of assets and liabilities, and statement of accounts be now signed by the chairman as examined, and allowed as required by The Harbours Act, 1908." The chairman went on to deal with >the trado of the port for the year. • "Goods passing inwards totalled 459,11G tons, as against 179,80S tons in the previous .year," he said, "being an increase of 9610 'tons, or 2 per cent. This total exceeds the record year (viz, 1907-8) by 2780 tons, "or 0.59 per cent. For the period to September 30, 1912, we find the volume of transhipments is very satisfactory indeed." The general cargo handled in tliis way reached 151,236 tons, as against 138,752 tons for the preceding year, or an .increase of 12,-181 tons, equal to 9 per ccnt., which is a new record for the port. This is over 1000 tons per month, and apart from . its geographical

position easily establishes its superiority, and clearly demonstrates ife advantages and facilities as a transhipping centre. Tlio imports from coastal and intercolonial ports amounted 'to 172,555 as against. 172,801 tons, a decrease of 246 tons. . . "The total shipments of wool, skins, hemp, and .tow oyer the wharves, excluding transhipments overside, for the year amounted to 251,861 bales, as compared, with 240,749 bales for the previous year, an increase of. 11,112 bales, or 4.6 per cent; Wool and hemp received from rail and town shows an increase of 7CG3 or 5' per cent.: The figures are 160,612 against 152,919. . ,Wool increased by 1092 bales, .hemp:by..s97l..' Water-born© wool and liemp. for shipment, increased from '87,800 to 91,2-19. bales during "the. year, being; an increase- of 3449. This constitutes a record in this line of the work. Out of the total bales of wool and hemp shipped ; over ;tho. wharves some 106,170 bales of woo! and skins, and 35,177 bales of hemp •:and ; tow. were dumped by the board. Thalt is to;say, that 141,347 bales were dumped.out.of 251,8C1 bales shipped, or 5G.1 per cent. as compared with 59.29 per cent., 00 per cent., and 61.05 per cent, in the three preceding years. This is a branch of the board's work that will 'require immediate attention. - A large expenditure has been incurred to carry out this particular service, and it may become necessary for the board to devise some means to protect its interests. • "The amount of coal handled at the port amounted to 502,499 tons, as against 477,712 tbns in the previous year, an increase of 24,787 .tons, equal to 5.19 per cent. Coal passing over the whar.ves :paying wharfage was 160,652 tons, against. 145.818; toils, an increase o£ 14,831 tons, and is'a.record. Coal for Government passing over the wharves paying no wharfage totalled 40,000 tons, an increase of 4897 tons. I Coal transhipped at wharf from vessel to vessel was 240,875 tons, an increase of 30,794 tons, equal to 12.7 per cent/ Coal transhipped by ships in tlio, stream shows a decrease from 55,316 to 30,118 tons. • : "There is a slight decline in the volume of imports from English and_ foreign" ports during the year in comparison with the previous year. The figures are 165,625 tons (1911-12). IGB,2so\tons (1910-11), a decrease of 2625 tons. This can be attributed to the London Dock strike which delayed the shipments.

Growina Trade. _ 1 "It is a matter for congratulation that I in nearly all branches of exports top « figures have been reached. General goods, > intercolonial and coastal totalled 12i,179 ( tens, which is a record, being on in- ( crease of 5146 1 tons over the preceding vear. The shipments of frozen meat, butter, cheese, and tallow, etc., to British , and foreign ports readied 51,185 tons as '• against 47,'168 tons in the previous year, ' the increase being 6717 tons, or 14.1 per 1 cent. This is extremely satisfactory. f "The net tonnage of vessels (all bona- ' fide traders)' entering the port for the ( year amounted to 3,087,382 tons as against 2,998,204 tons for 1910-11, the increase being 89,178. tons, or 2.99. per cent. Although this as the highest tonnage in any ] one year these figures would have been < considerably increased had it not been for the officers' disputo in October 1911, which laid up a number of vessels, and the dock strike in London which interfered with and delayed tho arrival of the Homo boats. ■ i "The following figures will be of general interest and gives evidence of the ( growing importance of the port. Recently during one week the tonnage handled amounted to 129,639 tons, and in one day no fewer than 48 vessels, with n tonnago of 102,079 tons, were ..berthed at the wharves. This bears excellent testimony to the valuable work carried out by the harbourmaster's department as well as the accommodation provided by. the board. ' • , . Finances. ' "Coming to the balance-sheet and "accounts, tho assets of the board on September 30, 1912, were estimated at £1,328,352, as .against £1,284,704,' an increase of '.£43,048. The total liabilities . at that dato amounted to ,£822,372 95.'4 d., the balance of assets over liabilities being ,£505,950, an increase over the last year's figures of .£25,271. Inward wharfage amounted to ,£51,530 Bs. lid., as against £52,479 os. 3d. for . the, preceding year, a difference of . lis. 4(1., a decrease explainable by the dock strike and by tho reduction in wharfage on artificial manures. Outward wharfage totalled .£12,889 ss. 5d., as compared with .£12.373 lis. 6d., an increase of ,£515 13s. lid. Transhipping wharfage advanced from .£27,298 13s. 6d. to .£29,080 165.. sd„ an increase of .£1874 2s. Bd. General storage jjiows an increase of ,£2647; cranage, £329; cargo sliedded in overtime hours, harbour improvement rate, £1G0; harbourmaster's fees, .£220, anil other items small increases, while tlio berthage /-ate produced about the same as in the previous year, proving that although a large increase in the tonnage had taken place the vessels had had better dispatch, " occupying , less time at the wharves. "The profit and loss statement for the vear shows a credit balance of .£10,814 "lis. 7d., as against £14,176 17s. 9d. for the previous-year, a decrease of ,£3362. This, to my mind, reveals a very satisfactory position financially, for when this item is under consideration the following facts" havo to be taken into account, viz., that during the year under review the wages of the casual staff were increased'from Is. 3d. to Is. lid. per hour, and for the period of eight months during which this has been in operation the extra cost, to the board Ims been £2080. A higher rate of cartage during ten - months of the year accounts for £1794 additional outlay. Repairs and maintenance have gone up by £2091 : standing charges £2323 and interest £1516. "In accordance wiih the board's resolution the sum of. ,05107 sx. 10d.. beim half of the surplus for (lie year, will be transferred to the special reserve fund. The tolal of Ibis fund will then stand at £ir.,812 (is..'lod. •The It in? fund on September 30, 1912. [ amounted to' £138,478 os. lid., of 'which_

,£137,624 is. Od. were investments, ami ,£B5l 16s. 5(1. interest accrued. this fund shows an increase for the year ot .£10,815 6s. lOd. The averago rate ot interest was M lis. 9d. as compared with .£4 10s. 5Jd, last year. The fund is in an exceedingly healthy condition, and the secretary, Air. Nicholls, and his co-com-missioner, Mr. Watkins, are to be commended for thoir assiduity and promptitude in securing good investments. "Tho rates of working expenditure and repairs and maintenance in 1911-12 was 64.19 per cent, as against 62.4 per cent in 1910-11. Tho increase is easily accounted for by extra rates for labour and cartage, otherwise the results would have been better than the previous year. "Although the board lias authority to raise ,£1,000,000 loan for the prosecution of further works, it has iiot been necessary to do anything in. this direction up (o the present, and I am of the opinion nothing will be required till the end of the year, if then. I am also convinced that when the board approaches the money market, with the sound financial position exhibited, there will be no difficulty whatever in negotiating a successful loan to meet further requirements. • "On MaTch 15, 1913, the credit account was as follows:— .£ s. d. On fixed deposit 80,000 0 0 Current account 29,683 2 5 Balance of A' 50,000 loan 15,000 0 0 • Total 124,683 2 5 "The amount paid in claims by. the board for the year amounted to .£lB9 lis. 9d„ as against .£136 in the preceding year. Of I his JCIS9 lis. 9d., .£66 7s. sd. was due to accidents, .£2B 3s. Bd. to .pillaging, ,£7O 9s. lid. to loss of goods, and X 24 10s. 9d. to errors in delivery by the board's employes. Considering the largo volume of goods passing over the wharves the small amount paid in claims bears testimony to the care exercised and the faithful manner in which the employees carry out the responsible duties entrusted to them. Works on Hand. "The dredge Whakarire has been very profitably employed during the year in securing material for reclamation purposes, and it would astonish members to view the scene of this useful vessel's operations.

"Most of the works outlined by me twelve months ago have either been carried out or are in progress. Tho contractors, however, have lhet with a great deal of inconvenience, and some of tho works, have been delayed owing to tho great difficulty experienced in getting the necessary timber from Australia. A good deal •of work has been carried out by the board's staff. The "Z" Shed, wliicii lias been erected for the purpose of dealing with cheese and dairy produce, is now nearly completed. Although tho year has not been noted for anything of a startling nature, it has been one of steady progress. Superannuation and Other Matters. "The scheme for the establishment of a superannuation fund for the employees of the- board has been, after a good deal of delay, finally adopted, and will come into operation on April 1, l'Jl3. . May I say that it affords me a great deal of pleasure and satisfaction that tho Wellington Harbour Board has been the first local body to avail itself of the provisions of, the, Local Authorities Superannuation Act, and that in a humble way I have been the medium in piloting it through, a feat of which I am naturally proud, 'when one knows that it means making provision for the. employees in their old age, who have given good services to their employers. I am convinced the board has done the right-thing, and such an example is sure to be followed by other local and will be to the mutual advantage of both employeo and employer. "The passing of the Harbours .Act of 1910 not only altered the constitution of harbour boards, but very considerably increased the cost of elections, and in order, to lessen that cost and generally to make the Act more workable 1 made representation to the hon. the Minister for Marino on the subject, suggesting certain ameiul.lnenls, principally the question of election, ~cqsts,., and notwithstanding that a short amending/Act was put through lo* session, no attempt 'was made to touch the real matters, that affect every board ,ii) the .Dominiqu, namely, the extravagant expenditure that'takes place under the present method of election, consequently the same waste of money will bo incurred at tho elections which will shortly be held in April. 1913.

In connection with the question of \ steamers carrying his Majesty s mails he- i ing exempt from harbour dues, this is a i matter that vt ry seriously affects harbour s boards in the Dominion. During the past f year some 52 vessels, representing 149,000 s tons were handled at: this port, and 110 ] charge could be made, and something in t the vicinity of .£ISOO-was lost by way of s revenue to the board. It seems to mo | quite wrong that these vessels, although < carrying mails, should escape paying dues, j The same services are rendered to them j as to other vessels, and it would appear j that the Government is reaping the benefit ] in getting its mail contracts much cheaper j to the detriment and disadvantage,of the , harbour boards. The Government cargo passing oyer the wharces for tire. year ] ending September 30, 1912, free of wharf- j age, was: i General inwards and outwards 11,082 tons Coal 40,060 tons Total .i. 51,142 tons and this also is on injustice to harbour boards, and combined effort should be made by t'he associated boards get tlio general government to pay a fair share for the accommodation provided and facilities. given. Comparison of Statistics. The chairman read the following comparative statement for the five months ended January 1912 and 1913. For 1, months ended Jan. 31. , 1912. 1913. ' Toes. Tons. Net register tonnage of ■ arrivals 1,035,933 1,059,360 ' Tons. 'ions. General cargo inwards— From Britain and foreign ports 64,337 72,289 Coastal and intercolonial 54,969 54,877 Total general cargo ■ inwards . 119,306 127,166 Tons. Tons. CoalOver wharves paying wharfage ■ 48,144 50,237 Over wharves for Gov- ' ' eminent use:" free... 14,617 20,193 T/S . over-side ' at wharves 53,040 94,088 T/S over-side in stream 15,721 7,865 " Total coal inwards and T/S 161,522 172,383 Tons. Tons. General cargo tran.— shipped 51,039 64,829 Bales. Bales. Wool and hempTranshipped 43,442 50,785 Ex. store and rail .... 81,242 88,552 Total wool and hemp shipments 124,684 139,337 Tons. Tons. General cargo out- i wards— To Britain and foreign ports 9,-118 10,275 Coastal and intercolonial 40,240 42,560 Total general cargo outwards 49,688 52,835 i Tons. Tons. Butter and cheeseOutwards ex shore and vail 5,483 4,336 Transhipped over • wharves 8,778 13,932 Transhipped overside 4,892 7,311 Total butter and _ | cheese shipments 19,153 25,5(9 For 5 months ended • Feb. 28. 1912. 1913. f Timber — Sup. ft. Sup. ft. i Inwards 6,114,714 6,014,347 Outwards 7,6,8)1 605,703 t . Total timber >1). !, aild out. 0,5D1,5j.) U,0.i0,0,0

For 5 months ended Tcb. 28. 1912. 1913. £ £ Wharves and quays, dept. ledger booking 82,037 91,357 Pilotage, port charges, and harbourmaster's fees 7,920 8,307 Oversea shipping:— No. of Vessels. Tonnage. 1911-12. 1912-13. 1911-12. 1912-13. Oct. ... 42 48 123,272- 181,308 Nov. ... 02 39 196,310 158,207 Dec. ... 41 50 166,039 200,002 Jan. 65 68 251,108 272,759 I'eb. 47 53 200,408 225,812 5 rnos. 217 258 937,137 1,038,083 Future Policy. "May I say a word or two in reference to the policy that should guide the board during the coming year, and it is that while I believo tho board is fully seized with the requirements of the port, and equally alive to its responsibility to provide the necessary and adequate accommodation and equipments to meet the expansion that is taking place, and I hope may continue to increase, it must not be overlooked that this board unfortunately lias no endowments to draw upou by way of extraordinary revenue, and until such time that it is able to lease some of its lands on the reclamations, which matter should engage the prompt attention of the new board, it has to depend almost entirely on ordinary revenue to pay interest and charges on any works that may bo undertaken, and if a forward policy other than a judicious ono is harshly or. hastily cmbarked upon, it will follow that tho extra charges must be made to meet the interest on such works, and that would bo inimical to tho welfare and development of the port and city. So I sincerely hope that those gentlemen who may bo entrusted with the discharge and conduct of the board's business will act with caution antl prudence, and not bo led away by any ill-advised agitation or movement that has a tendency to reckless expenditure which is not likely to prove remunerative or I revenue-producing. "Although the year just closed has been ono of tho most successful since the incep-

tion of tlio board, mid there is, in my opinion, every indication that the year entered upon will be a prosperous one also, it lias to be understood that extra charges will have to bo met in the shape of extra cost of labour and cartage, elections, and superannuation, etc., so members will appreciate that tho advice given is sound and seasonable. In tlio opinion of tho executive and myself, tho following works should bo prosecuted daring the year:— Staging from Jervois Quay breast-' • work and additions to Taranaki Street Wharf 5,005 Ferry Wharf No. 2 and additions to Ferry 'Wharf No. 1 4,300 Store'- "Z" /. 4,085 Extension of Glasgow Wharf and "T" Shed I; 17,435 Contract, asphalting floors of "Z" ' Store ...' 740 Supervision on contracts 500 Reinforced concrete breastwork, Waterloo Quay (part) 12,000 Reclamation, Waterloo Quay and Te Aro .....: 12,500 Eoad formation, Waterloo Quay and Te Aro (including drainage) 5,000 Pipitea Wharf (part) 10,000 Brick wool store, Pipitea Wharf No. 1 (part) 7,50(1 Electric light and power installation (part) 3,000 £82,725 Among the works named, the berthage accommodation will bo increased by the construction of the Pipitea Wharf and tho extension of tho breastwork along the line of Waterloo Quay reclamation, and increased storage by the erection of a largo .new shed between the King's and Pipitea Wharves, as well as the sheds on the new Pipitea AVharf. "Must Go Steadily Forward." "In conclusion let mo say that tho greatest care has been exercised by those, who have been administering tho affairs of- tho board during the year. The position of the board financially and in every way, has never been better. It will be 'within'. the recollection, of meuioers when they did mo the honour in electing me to the chair some three years ago the board had just concluded a year's operations with a deficit of some six or , seven hundred pounds. I had the unpleasant and unpopular task of increasing the charges in order that tho board would be able to meet its obligations. Jly action then has since been justified. At tho end of the first'. year tne credit balance was .£G2l(i, second year .£14,171), and this year JE10,814. By the adoption of a cautious, firm, and sound administration the port must go steadily forward. .It has every advantage that Nature could bestow; easy of access, centrally situated, it commands tii-a traffic on each coast of both islands. We have tho best testimony that can b6 given

from the masters ot every ship trading here, who pay high tribute on every opportunity in regard to the port, our system .in use, and the services rendered." .Mr. Fletcher by testifying his hearty appreciation of the zealous and faithful 'service rendered by the board's staff. - OTHER SPEECHES. , A PLEA FOR SHIPOWNERS. Mr. C. W. Jones seconded the motion, and congratulated the chairman on the satisfactory position disclosed. Referring . to the special reserve fund ho said that when it was established 'it was not decided that every year the board wero to add to it half the profits every year, but that the matter should come up for reconsideration when the fund had reached a substantial sum. Tho object of it was to, make up a loss if in any year they were laced with one. It was not intended that the fund should automatically increase, and become virtually another sinking fund. It had now reached ,£lO,OllO and it seemed to him unnecessary that it should reach much beyond that sum. Ho understood members were to have an. opportunity of discussing J whether it should he increased in any particular year or not. " His own opinion was that ,£IO,OOO was sufficient for requirements, and that the board had no Dusiness to pile up a largo reserve fund. Ho would rather see some of the money used lor the reduction of charges. Mr. Cohen: Hear, hear. v Mr. Jones said that for many years the revenue derived from shipowners had been about on a par with that derived from merchants. Now the amount derived from ships was about .£12,000 more than that paid by merchants, so that it was obvious that a disproportionate share of burdens had been put on ships. Especially in the matter of tho harbour improvement rate soiuo little easement might be given to the owners of ships. This had never been passed on, and he thought some slight reduction of it might be granted. Mr. Daniell: What about the Harbour Board's old age pensions? And the watorsiders? Mr. Jones said he agreed with the chairman in tho belief that mail boat 3 should pay their way in ports just as other boats did. All Government Departments should pay their way, and not put their burdens on harbour boards. He felt very strongly on tlje subject, and he thought fresh representations should be made to tho Government. Mr. C. E. Daniell said he was heartily in accord with' the chairman in the matter of the need for reduction of the cost of harbour board elections. As a representative of a country district he was interested in the providing of accommodation for wool as it came forward, but he was afraid the board was not meeting with the loyalty and co-operation of those from whom it might reasonably be expected. : Caution Advisable. Mr. Cohen said it appeared to him that tho danger into which, the Board might fall was that of allowing their optimism and enthusiasm to run away with- them. The remarks 1 of tho chairman, which had seemed to him of most importance, were tho:'. l in which the chairman had counselled prudence. The year had been one of records. Tonnage had gone up, and dues had gone up, but the profits had decreased by .CIOIK). He asked members to remember the occasion two or three years ago,;when, owing to the exigencies of trade, I hey had to . raise charges. It had then been nssumed : that lho.>c increases were only tentative I or temporary. Thcv had brronic not only - permanent, but it appeared lo him that if-the board were nut vct.v careful there ) was danger of the charges boing in- . crcased, This must be guarded against

by all possible means. This year ail additional expenditure of .£SOOO would have to be faccd, whether they liked it or not. And of every «CIOO .of revenue received" .£6l went in labour and administrative expenses, so that in order to find .£'sooo more they must have an increase of ,£15,000 in revenue. Was the revenue going to increase at tho rate of .CI. 1 ),000 year by year? And the Engineer advised then that if the proposed works at the l'ipitea wharf were to lie continued, they would mean an increase in fixed charges ol' ICIO.OOO. This meant that the board must increaso its revenue .£IO,OOO or .£50,000 a vear. He ' brought these matters forward not in any antagonistic way, but it appeared to him that, tlicy w<;rc sitting on a volcano, and they would liayo to be very careful how they went oil if (hey were to preserve the reputation of the hoard and its administrators, for sound tinanco and prudence. lie hail hoped that the time hod come to consider importers aiul shippers and other people. As a member of a pror ucing district, it struck him that all charges came back directly on the producer. Increased shipping charges were always passed on by Ilia companies in increased freights. Wharfage on imports came back to tho producer as a passed-on charge, but charges ou exports could not be passed on. He would over raiso his voice to say that labour should have n lair deal, but in tho last few years they had certainlj received, if not the largest share, at least a very great share of consideration Irom the board. It was time now to turn attention to some other elements, in®}, lad all seen such tilings as collapses ol trade, and they must not build too confidently on hopes pf increases. Mr. Harkncss said he wished to associate himself with the remarks ot Air. Cohen as to the necessity for prudence. The revenue of the board had increased last year by 5! per cent, but the expenditure had increased by 71 per cent, and it was therefore correct, as Mr. Cohen had said, that their expenditure was increasing in\ a much greater ratio than their revenue. Some of them had lioped that tho chairman's speech would have contained some indication that it w*ould be possible to reduce some of the very high charges importers were bearing at present. The credit balance would have been very much less than JCIO.OOO if waterside workers had been paid the present rates for the whole of the year. Even as things jvere it was questionable whether ,£10,514, their net revenue, was sufficient. On the board's assets it represented a return of only thirteen-sixteenths per cent. In tho meantime the policy to be followed must bo one of prudence and safety, and as soon as possible there should be a reduction of charges to importers, exporters, and shipping. No Reductions Yet. Mr. M'Eweri said they could not hope to increase capital expenditure at « greater rate than they had" 1 in the past, and live within their income, if they were to reduce charges. ; Mr. Hildreth said thp future policy of tho board must be one of prudence, but ■at the same time they must keep ahead of . the requirements of the port. At present they had only their revenue to depend upon, but by the tiriie their pro- ' posed works were completed they should ; surely be getting some .return from tlieir ■ reclamations. When the charges woia raised, on shipping and imports ho had the id:a at tho time that the increase was to be only temporary, but sines then they had had a new agreement 'with the watersiders which meant an increase .of about ,£SOOO ill expenditure, which made it impossible or inadvisable to reduce charges. Now he could see no possibility of reducing charges until the endowments were revenue-producing. 4 Space for Big Ships.

Mr. Hcnner agreed that charges could not bo reduced. It had been said that the board-were keeping ahead of requirements in the, matter of accommodation for shipping, but lie did not think tho V report- of ' the harbourmaster bore that out. He quoted the following passage froni the,harbourmaster's report: increased size of the latest class of steamers arriving prohibits tlicin berthing' at Taranaki Street Wharf, andon several occasions the vessels' draught of water precluded berthing at Jervois Quay!, This practically cuts out two berths: that wo havo for years past for ocean steamers.. It seems probfiblo that: in ..the, near' future tho small class of ocean steamers will have disappeared, that .is,- in- so'far as the regular traders to this port arc concerned. As in tho-prer vious year, the berthage accommodation during: the busy months.was'on numerous occasions taxed to its utmost capacity." Mr. Eonner said he had known instances of steamers lying out in the stream for two days at a time. . T Mr. Fletcher: Not in my time as chairman of tho board. . Mr. Renner . said lie could not givo dates,.but .'he-was prepared.to do so. They were not keeping ahead of requirements. When the Panama Canal opened, there was no doubt that larger steamers would como to tho port, and they should go ahead at oiice in providing berthage accommodation for deep-draught vessels.' At present they had one wharf projected, providing for two deep berths, and i£ would not bo finished ■ for two years, ijy that tinio it would certainly, be necessary.

The Chairman in Reply. The chairman replied briefly. Referring to i the special rescrvo fund, he said that one of tfto clauses of the motion by which it was established was to the effect that not less than 50 per cent, of the net revenue should be placed to the credit •of the reserve fund every year. In moving the motion, ho had expressed the opinion that when the. fund reached £30,000 the motion should not be operative. It'had now reached half that suni. tn regard to dues on mail boats, every member would agree with ,him in the opinion that it was unfair that a local bo<ly, should bo called .upon to render services free to steamers carrying mails, tt was a moustrous tiling. The board would have to take into consideration the matter 'of receiving rail-borne' wool. The position at present was that the Railway Department were getting the board to do work that was the proper duty of the Railway Department. It was the board s duty to receive wool consigned to shippers, but now all the wool arriving from the country was poured into the board's sheds. Readjustments would have to ho made, and if the railway peoplo wislied the board to do this work, the board would have to be paid for it. For some time, at any rate, lie could see no, chance of charges being reduced. Provision could not bo made for bigger ships without income, and income could not be increased except by revenue until some of the harbour reclamations were leased. He repeated that the board must go along very carefully, but the financial position was a good one. He thanked members for their loyal assistance, and he hoped the coming year would be a better one than the past had been. The motion was carried.