HARBOR EXPENDITURE.

Gisborne Times, Volume XXII, Issue 1760, 29 May 1906, Page 2

HARBOR EXPENDITURE.

COMPARISON BETWEEN GISBORNE AND TIMARU.

AN INTERESTING RETURN.

£108,050 IN HAND.

The following return showing a comparison of tbe rrcsipts and expenditure Of tbe Gisborne and Timaru Harbor Boards has been supplied to U 3 and should afford considerable foed for reflection to those who are always running down tbe local administration.

TIMARU’S POSITION. We are told tbe Timaru Harbor Board have spent on harbor works L415.Q00, which at 6 per oent. gives L 25.000 per year, or LSOO per week, L 25,000. But when we look up the Timarn balance sheet we find tbat einoe the year 1877 the Board have reoeived in the 28 years by way of revenue and loans a total of L 932.566, all of which has been expended in connection with harbor management and works. This large amount works out at about L7OO per week over tbe whole period, and as all goods to and from the ships’ sides have to bo railed, some additional expense mast incur from the goods leaving the ship and before the goods are delivered in the stores. Also, considerable expenses have to be paid on Dozen goods in railing to the ships from the works. GISBORNE’S POSITION,

The Gisborne Harbor Board dates from 1885 to 1905, a period of 21 years, and the gross reoeipts are

Total receipts ... £466,083 8 11 Expenditure, 21 years. £ i d Harbor and office expenses 33,812 12 9 Interest on loan 206,084 II 11 Harbor works and plant... 174,942 10 i Firs t y e ar’s interest od loan was paid out of loan ... 10,137 10 2

£424,927 5 5 £ if d From 1885 to 1905 tbe total receipts of the Gißborne Harbor Board were 466.083 8 11 Paid over from loan fund to Publio Trustee ... 51,165 0 0 Leaving for expenditure on works and management £414,918 8 11 Expenditure from 1885 to 1905. £ ' s d Office and barber management 33,812 12 9 Interest on loan 206.034 11 11 On works and plant ... 174,942 10 7

£414,789 15 3 The first year’s interest of £10,137 10s 2d was paid out of loan. The weekly expenses of the port have been about £3BO. Lighterage is not included, as this is included in the freights and goods, and wool and frozen meat would have to be oonveyed to the port by some means. NOTES ON ABOVE. It mast be remembered that the Harbor Board have been working at the Timaru harbor for 28 years, aud that they bad £415,000 to expend of loan fnnd, Included in which was a grant from the Provincial Government of* £106,458 11s; also that there is no river to contend with. Tbey have had two dredgerß at work constantly for at least 14 years or more. The Timaru double grab dredger is the best dredger of tbe kind in the colony, ooßting £17,442, and has been in ose for 12 years.

Tbe present position of the Gisborne ‘ioan is £108,050, made up as follows I of tbe loan fand and £56.885 accretions of sinking fund. Were Gisborne to-day called upon to pay tbe loan of £200,000, there is £108,050 in the bands of tbe Public Trustee. Tbe sum mentioned with interest and investments due at the date of the expiration of the loan in 1915, will redeem nearly the whole of the loan.

When tbe Gisborne loan was floated the revenue was less than a thousand, whilst at the present time it is over £14,000 a year.

£ a i General account 129,364 17 11 Loan funds 211,271 16 3 Sates 82.898 3 11 Intereet on loan acoount 22,549 11 10