REVIEW OF THE FINANCES

Hawke's Bay Herald-Tribune, Issue 78, 19 April 1937, Page 11

REVIEW OF THE FINANCES

Commencing Cash Credit oi £2504 EFFECT OF HIGHER COSTS The Napier Harbour. Boara commeneed its new year with a cash balance of £2504. Although the past year resulted in a debit balance of £541, the financial position generally' is considered to be fairly satisfactory in view of the fact that the expenditure included a considerable increase in capital charge and a conimencement of increased operating co,sts due to changing economic and industria! conditions. Referenoe to" the board' s financial position was made by the chairman, Mr Trevor M. Geddis, in his annual report adopted to-day, "The financial position on the board' s operating account for the year sbows a commencing cash credit balance of £2504, the year finishing with a debit oi £541," he said. "This can be considered fairly satisfactory in view oi the fact that the expenditure includes a considerable increase in capital charge and a commencenient of the increased operating costs due to changing economic and industrial conditions. There will be a welcome readjustment of the board' s finances by way of inpreasing revenue receipts • as soon as the new harbour facilities come into. use and in the meantime we have to face the problem. of making ends meet. This task has been made much more difficult by rising costs and prices. "Oomparative items of trade and revenue under the most important headings are gjven below, but a study of the more detailed returns attached to the accounts will alford much interesting iqformation.

1934-35 1935-36 tons tons Benzine and kerosene ... 6109 5175 Cement and lime 5127 6938 Coal and coke 18614 16760 Coal (Government) 1196 5106 General cargo 57783 65679 EXPORTS Dairy produce (tons) ... 4739 5387 Beef (tons) 6858 3249 Mutton (carcases) 368291 310426 Mutton (pieces) — — Lamb (carcases) ......... 861065 875513 Wool (bales) i> 104381 142146 Wool transhipped (bales) 1566 2652 Fruit (tous) 1272 2785

IMRORTS

Overseas (tons) 429818 451329 Coastal (tons) 1290® 107242 Lighters (tons) 95194 92248 654015 650819 . Principal items of revenue for the past two years are shown below for purposes of comparison:— 1934-35 1934-35 £ £ Imports 21401 23364 Exports 23550 • 26507 Berthage 3817 4073 Harbour department ... 12949 12391

SHIPPING