A GROWING OVERDRAFT.

Shannon News, 9 December 1927, Page 3

A GROWING OVERDRAFT.

FOXTON HARBOUR BOARD'S POSITION.

STRIKING OF A BATE SUGGESTED

INVESTIGATION TO BE MADE BY ~ A COMMITTEE.

The '■•aiiirual' meeting i f the Foxton Harbour Board wan held on Monday, •it the Board's offices in Foxton, there being present: Messrs .T. Link-later, MIP. (chairman), J. A; Nash, M.P., J. Clirystall, M. Mortensen, W. E. Barber, 11. Berry., A. J. Kellow, JB. Raugiheuia (secretary). SLACKNESS IN SHIPPING.

The 'Chairman presented his annual report as follows: — "hi submitting" my annual report, I desire to say'that .shipping, in the main, has, as contemplated, not shown. ' any . improvement' upon last year's operations, and there is still room , for expansion. In this con* nection I have reason to believe that improvement '"will yet be shown. The facilities at the port augur well for the future. I am still hopeful that another steamer will take up the running not only between Wellington and Foxton, but -between the port and beyond Lyttelton. Shippers and consignees alike would welcome the establishment of a regular shipping service between Foxton and the South Island

ports. ' ''Endowments:—During ' the year I had occasion to'.instruct .the Board's solicitors to obtain a Land Transfer Title in respect of its endowment fronting the river between the Pumping . Station and Nye's mill as at, present no title has been issued. "Tree Planting: —Tree planting on the accretion hind has been extensively carried out\with good results.. The Board is indebted to the members of the Beach Improvement Committee for voluntary services rendered in this con- ' nection. ' TOWN BOARD PROPOSAL. "It is thought desirable to consider the question of forming a Town Board ; -at Te Wharangi (Foxton Beach). The growth of this resort during the last few years has been very rapid and consequently the necessity for proper and '■ efficient control is very apparent in the matter of sanitation, and care of pro-

perty, etc.. At present this resort is ■getting'too. wieldly for irresponsible con. trol. I am assured'.by residents that the movement will meet with general approval. The advantages of local government, to both Board and the Lessees are self-evident. "Dredges.—Durinig the year various expert reports have been obtained regarding the dredge "Hennessy" and the grab dredge Avith the result that /hey all recommended placing same on the market. THE COAL TRADE.

"Numerous requests have been made by Chambers of Commerce and Borough Councils to resuscitate the coal trade through the port. The question of subsidising the purchase of a suitable boat to run between West port or Greymouth' at regular intervals is under consideration. To again ask the Government to land the coal at Foxton and save haulage over Paekakariki may be advisible. Years ago when a private company owned the Manawatu railway the matter presented little or no difficulty, but since the acquisition of the line by the State, haulage from Wellington superseded the'more economical transport through the port. "Flaxmill Sites:—The question of finalising the boundaries and titles is still in the hands of the Board's solicitors and I am hopeful that, at no distant date the matter will In? finally and satisfactorily settled. "Hemp Transport:—Recent innovation regarding the transport of hemp by motor lorries to Wellington has come under my notice and from a shipping stand-point this is to be viewed with no uncertain concern, but 1 sincerely hope that this departure will produce no detrimental effect to the pert. "Artesian Bore:—The artesian bore at Manawatu Heads is now functioning and doubtless this will be an asset to To Wharangi. ' "

SUBSIDY QUESTION. 1 ''During the current session the member for Palmerstou North and I have been urging special legislation enabling Harbour Boards, where necessary, to subsidise the matter of purchasing suitable boats and obtaining the. controlling interests in such boats. &o tar we have vet to learii from the Minister ot Marine whether he will take any action or not. We are, however, hopeful that our endeavours will be fruitful. "Support:—Allow me per medium of this report to urge the ratepayers through their representatives on this Board to.accord the port and boat their hearty co-operation as without >t the rate, as set out in the schedule ot he Foxton Harbour Amendment Act, 1917,' will have to he resorted to. Up to the present we have been aide to carry on without striking a rate and with the support of those in the rating urea we hope that any step m this direction will be quite uncalled for. "Appreciation:—! take tins opportunity of expressing appreciation ot activities of the Beach Improvement Committee for the improvements effect-,-ted at To Wharangi and for voluntary services rendered by its-individual members. In this connect ion I have to commend all for their invaluable services in the interest of the Beach and its environments. "Conclusion:—ln conclusion, gentlemen, I desire to thank you for the ~very keen interest centred in the. work and I sincerely hope that the current year will assuredly mark an era of progress. " The Chairman also expressed his appreciation of the work of the staff, who did very good work during the year and afforded him very great assistance in his .position as Chairman of the Board i The report by the Chairman was adopted, on the motion ot Mr. Ohrystall, seconded by Mr. Nash. ANNUAL BALANCE SHEET. The balance sheet for the year ended

September -50th,'' U>-7, was presented by the secretary. The following is a summary of the'position-disclosed:- — GENERAL ACCOUNT.

Receipts. —Balance as at October Ist, 1920", £4O 19s M. Pilotage, £3BbM3s (id. River lighting, £(SB. Wharfages: Inward, £1373 <ss 4d; outward, £209 8s sd. Ships' dues, £22 lis Id. Rents, £042 19s 3d. 'Miscellaneous, £72-2s 9d. Debit balance, September 30th, 1927, £354 14s Bd. Total, £2970 15s Bd. Expenditure.—Salaries, £1453 12s 10d (including casual labour, £555 17s (sd). Benzine, etc., £29 5s lOd Maintenance and repairs, £SO 10s lid. Office, expenses, £l3O 2s Id. Commission, £4 19s 2d. Travelling expenses, £35. Dredging, £3. Insurance, £IOB 19s (id. Water. £133 19s Sd. Miscellaneous, £175 5s Bd. Interest and sinking fund, £B4O. Total, £2970 15s Bd. Tenants' Contributions.

Contributions by tenants to Beach Road- account, collected on behalf of* the Manawatu County and Foxton Borough Councils. —Balances as at October Ist, 1920, £ll7 os 4d; amount received to September 30th, 1927', £75 8s lid. Amount paid to Foxton Borough Council, £35 2 S 6d; balance as at September 30th, 1927, £157 lis 9d. Interest Account, , Transfer from General Account, £O3O. Paid Native and Public Trustees, £O3O. Sinking Fund Account. Transfer from General Account, £2lO. Paid Public Trustee, £2lO. Statement of Sinking Fund Account. Balance as at September 30th, 192 G, £B5l. 15s lid. Instalments, £2lO. Public Trust Office, interest to September 30th, 1927, £47 0s sd. Total, £llOB 10s 4d. Abstract of Balances. - Olv tenants' contribution, £157 lis 9d. Or. Sinking Fund, £llOB 16s 4d. Dr. Bank of New Zealand £314 8s "3d. Total. £ISBO 10s 4d. . Dr. General Account, £354 14s Bd. Cr. tenants' contribution, £ll7-5s 4d Or. Sinking Fund Account, £llOB 10s 4d. Total, £ISBO 10s 4(1., The'.'sinking fund refers to the loan of £IO,OOO authorised by. the Foxton Harbour Board Amendment-Act, 1917, from the Public-Trustee from June Ist, 1918, for 30 years at. s:} per cent., interest and 1 per cent. ,sinking fund. Statement of Rents.

']0,2(5: Rents outstanding, £378 1.75. Rents received, £404 4s Id. Total rents, £782 5s Bd. 1927: Rents outstanding, £330 13s 9d. Rents received, £042 19s 3d. Total rents £973 13s. Statement of Assets and Liabilities. Assets (after depreciation).—Wharf, £4OOI ss. Dredge, £3703 17s 6cl. Goods shed, £BB9 19s Id. Pilot's, residence, £469 4s Sd. Plant, launch, etc., at Pilot station. £5.10 0$ 2d. New goods shed, £4925 12s Id. Drag scoop, £47 19s od. Dredgei cradle, £l9B 7s 4d. • Rents, £330 13s 9d. Wharfage, hand-. lino- etc.: Sundry debtors, £194 12s 10d, Cash in hand, £l2B 0s 9d. Sundry debtors, £IOO 5s 10d. Total, £15,025 18s Liabilities. —Bank overdraft, £364 10« Phi; plus unpresented cheques, £77 18s 2d; total, £442 9s; less cash in hand £l2B 0s 9d; balance £314 8s 2d.. Sundry creditors, £438 13s 4d. Total, £753 Is 7(1. Excess of assets over liabilities, £14,872 10s lid. CONSIDERATION IN COMMITTEE. On the motion of Mr Clirystall. the Board went into committee to discuss the balance sheet. When the committee stage was finished, Mr Nash said that, owing to the state of the finances of the Board, he was of the option that unless they could improve mk>> shipping between this time and iv>: ch next, it would become absolutely necessary'to strike a small rate in order to collect about £IOOO to cover the deficit in the future. He did not recommend this, with' a. view of making an annual collection, but- just to overcome the present difficulty. He hoped, it would not be necessary to resort to this, but that in the meantime they' would_ get sufficient shipping, so Ijhat the deficit at present shown, would be amply covered. The financial statement was"reccivcd on the motion of Mr Clirystall. LOCAL COMMITTEE TO INVESTIGATE. P was moved bv Mr Kellow and seconded by Mr Clirystall, that the local committee, in co-operation with the secretary, investigate the expenditure, of r.he Board, and report to the next meeting as to whether they can devise any means of. reducing the expenditure. Mr Kellow pointed out that the rcvej nue must be looked on at present as a I decreasing one instead of an 'increasing one, and the only way they could meet the position was by decreasing the expenditure. PROPOSED BEACH TOWN BOARD Regarding the suggestion for the formation of a Town Board at the Beach settlement, Mr Clirystall said that the responsibility really rested with the residents .themselves. A special rating area under the County would till the bill. Ue questioned whether the Board would be justified in making streets out of its own funds. The Chairman: ] don't think we are. Mr Ohrvstall: We have done it be-

fore. The Secretary: It is in the endowment. The Chairman: I. don't think we have any right to do thai outside our endowment. We have the right within our endowment; that was looked into before.

It was announced by the" chairman that he was taking steps to see if he could get the Eoxton Beach Road included in the Main Highways system, as a secondary highway, in consideration of the large amount of traffic, which it carried from outside districts. DEPO7TATION TO WAIT ON THE AUDITOR-GENERAL. The meeting appointed the chairman and Mr Nash to interview the AuditorGeneral relative to the debit in the Board's finances. Mr Nash mentioned that the balance sheet had not been audited for three years; and Mr Chrystall stated that there was a joint and

several liability on the members of the Board.

A resoluton was passed authorising an increase of the overdraft. CHAIRMAN RE-ELECTED.

Mr Nash moved that Mr Linklater be re-appointed chairman for the ensuin"- year. The motion was seconded by Mr Clirystall and carried unanimously.

Mr'Linklater, in thanking the members for the honour they had accorded him, said he had done his very best in the interests of the Board.- He was sorry that his efforts had not bet-'" more successful; but he hoped that the coming year would be more satisfactory, and' that, with the members' assistance, 1928 would be a very successful vear for the Board. (Applause). " COMPLIMENTARY. On the motion of Mr Nash, seconded by the chairman, it was resolved to place on record the Board's appreciation of the work of the secretary (Mr Roore Rangiheuia) and the staff. Mr .Nash remarked that the secretary had dune his best in the interests of the Board, and his work had been of a very satisfactory nature. The chairman said that i» the many interviews he had had, and the great deal of work lie had done, with the secretary, he had always found him very satisfactory in doing his duty, and the staff had ably backed him up.

At the conclusion of the business the chairman wished the members a very merry Christjnas and a happy and prosperous New Year —a sentiment which the Board heartily reciprocated.