NAPIER HARBOR BOARD.

Daily Telegraph (Napier), Issue 3601, 26 January 1883, Page 2

NAPIER HARBOR BOARD.

Thursday, January 25. We conclude our report of the Harbor Board's proceedings, commenced in last evening's issue: — THE BOARD'S RESERVPS. The accounts of the Board, as audited by Mr Macalister, provincial auditor, Averc placed on the table. The Chairman remarked that the statement of assets and liabilities was still unsigned by the auditor, as it had been for .ayo or three years past. It was time that the matter Avas put on a proper footing. Tho reserves were valued by the Board at £100,000, and by the Government valuer at £55,000. Mr Wilson moved that the Government valuation be adopted. It Avas quite high enough, if not too high. While things remained in their present position tho credit of tho Board must suffer. While the Corporation bonds sold in London at 107 or 10S the Board's bonds were about 100J- to 101. They used to be much higher,"and he was told by a large holder of the stock that the fall was entirely due to the report of the dispute as to the A-alue of the Board's endowments reaching London. The reserves Avould ultimately become very valuable, but there was no doubt that there present a.iluc Avas greatly OA r er-stated. In reply to a question, the Chairman said that Messrs Weber and Scaly made the higher valuation. Mr Batham, acting for the Government, put the value at £55,000. The Mayor seconded Mr Wilson's motion. Mr Vautier thought the true valuation Avas between the £.55,000 and the £100,000. He moved as an amendment that the G°A'crnment be requested to appoint one A'alucr to act Avith a valuer appointed by the Board. The amendment was seconded by Mr Smith and carried. MISCELLANEOUS. It Avas agreed on the suggestion of Mr Miller, to unlock the receiving sheds at tho wharf, and to permit them to he used temporarily pending the adojitiou of a scale of fees. The Wairoa Board applied for the temporary use of a which, and the matter was left Avith the chairman to arrange. Tho Board then adjourned.