The Gisborne Times. PUBLISHED EVERY MORNING. TUESDAY, JULY 20, 1915.

Gisborne Times, Volume XLV, Issue 3986, 20 July 1915, Page 4

The Gisborne Times. PUBLISHED EVERY MORNING. TUESDAY, JULY 20, 1915.

The meeting °l Gw, Humor Boaru yes te relay was more than usually into resting. it was the. case, in the first place, that members had placed before them printed copies of the annual report and .statistics for the year ended December 31 last. As regards the statement of accounts these have already .been published. in brief they show that in connection with the principal sources of revenue—wharfages, port charges, harbor master's fees, pilotages, berthage of lighters and river improvement rate —there was a net increase of £(>l3 over the total for the previous year. This was certainly a splendid result when it is borne in mind that the period in question included six months of war time. Among the statistics which were appended to the annual report were other figures which also disclose a very gratifying state of affairs with reference to the progress of the port. The value of t!io imports for the year, it would appear, were slightly less than in ute case of 1913 but, for the same period, the value of the exports increased Inclose on £IOO,OOO. No doubt the enhanced prices due to the war. were in a largo measure responsible for this very satisfactory increase. It should also be mentioned that a new and very interesting comparative return dealing with the tola] amount of exports from each of the more important ports is included in last year’s harbor statistics and the position which Poverty Day holds on the list—the leading position—cannot fail to further impress the people of other districts with the unrivalled productivity of ibis important portion of the Dominion. The results arrived at in the return show, it will ho noted with great pleasure, that, whereas the value, per capita, of the exports from Otago is £ls, Auckland £l6, Lyttelton £25, Wellington £26, New Plymouth £35, Napier £4O, the value of the exports per head of population for Poverty Bay is over £69 per annum. In other words, the exports per capita from this district for 1914 were three times as great as the average total per head of population in respect of the whole of the Dominion. Now as it is me case that much of the lands in this district are still only partially developed it must, then, he the position that the ports of the East Coast, and particularly the port or Gisborne, have a splendid future before them. With reference to the financial aspect of our port the balance sheet, it may be recalled, revealed the satisfactory state of affairs that, at December 31 last, the general account was in credit over £3OOO, and the loan account to the extent of over £17,000. Since the date mentioned over six months have, of eourso, elapsed and it is pleasing now to find that the Board will have no difficulty in tlie matter of financial resources wherewith to finish the harbor improvement scheme which it has in hand. As far as wp can make out—anf. we cannot see that we are mistaken-i-tlie position is that the Board has iii hand or in sight ample moneys to carry on all works

The Striking Progress of the Port.

until November net, when its resources will be strengthened by the addition of the balance of the old loan sinking funds which, as is well-known, are under the control of the Public Trustee. In this connection .the treasurer, Mr J. AY. Witty, reported to the Board that there would be available at that date, after payment of the balance of the old loan, £8$,1)00, the handsome sum of--£38,460 to which lias to be added the further earnings of the sinking fund frofti January 1 last to November 1, viz., about £3OOO. Perhaps it may be too early to go into such a matter, but it would .seem that the whole of this money will not he necessary for that portion of the work which is being curried on out of loan moneys. In that event an opportunity will be afforded the Board to improve its general account by securing a transfer of any final balance- in the loan account to cover portion at any rate of the cost of the constructive dredging which, is at pre-

sent being paid for out of revenue. Or, maybe, the Board may prefer to i;>e any balance for further new v.orks. In the meantime the Board (the raLepayers will’he further pleased to learn) is bending every effort in the direction of keeping as low as possible flu* cost of dredging. As a sequel to the meetings of the Reorganisation Committee recommendations have now been adopted which, when given effect to, will, it is set out, mean a. saving in the working expenses with reference to dredging to tin; extent of up to CI2OO per annum. The full ell'eet of such drastic retrenchment will lie awaited with considerable interest in view of the statement in the Kngineer’s annual report—“l am thoroughly satisfied that the ■‘cost of working this dredge (the £ '.Maui) cannot be reduced without "either a corresponding reduction of ‘'its output or impairing the efficiency "or safety of the dredge.” It is to be trusted that on this particular point- the Hoard is right and Mr McDonald wrong; hut in this, as in all other matters the old adage will apply: "1 lie proof of the pudding is :n the eating.”' We can onlc add that it is quite clear from the annual n-iurns of the Hoard the prospects of the port must be generally regarded as extrcmelv rosv.