PORT OF AUCKLAND

Gisborne Times, Volume XXV, Issue 2104, 12 June 1907, Page 2

PORT OF AUCKLAND

SATISFACTORY POSITION.

Press Association.

’ AUCKLAND, last night. The Adjourned annual meeting of the Auckland Harbor Board was hold' this afternoon, for .the .purpose 'of passing accounts. j? In moving their . adoption, the chairman, the Hon. E. Mitchelsonf said ho had again to congratulate members on the steady increasing re-5 venue, the net income amounting to £83,582 13s 2d. This had more tliah realised the increase which, was predicted when introducing the - new

scheme of harbor works, and he had no doubt but that ‘substantial- mi creases would he maintained. ' The total receipts for 1906 amounted to' £103,409 12s 7d, as against a net income of £83,582 13s 2d. > The net income for 1905 was £76,796 7s- 7d£ When it was considered that the" income of: the board in 1872 lamoimt-o4 .

to £12,498 2s lid, and in J. 906 to £83,582 13s 2d, some idea might be formed of the increase of trade and commerce of the port and of the increase in the value of the board’s endowments. This enabled them in some measure to foresee the great future opening up for Auckland. The first issue of debentures under the Auckland Harbor Board Loan and Empowering Act, 1904, Hhd been duly completed, and all the bonds sold at par, bearing interest at 4-J per cent. The second issuo of £IOO,OOO at,4i per cent, had been die- . posed of, and the third issuo of £IOO,OOO at 4J per cent, had been arranged for, £IO,OOO being payable on July 10th, 1907, and the balanco payable in sums of 3)5000 per mouth, or such larger sums as might be arranged up to £15,000 per month. The business of the port was increasing sc much that the berthage accommodation now available was far too limited to enable the work of 'discharging and loading .of vessels to be carried out without occasional blocks.