The Stratford Evening Past WITH WHICH IS INCORPORATED THE EGMONT SETTLER THURSDAY, JULY 8, 1915. NEW PLYMOUTH HARBOUR.

Stratford Evening Post, Volume XXVII, Issue 58, 8 July 1915, Page 4

The Stratford Evening Past WITH WHICH IS INCORPORATED THE EGMONT SETTLER THURSDAY, JULY 8, 1915. NEW PLYMOUTH HARBOUR.

Amongst the many reasons why farmers in all parts of Taranaki should, support a freezing works of their own: with its outlet at the Port of New Plymouth, is that of materially assisting the export trade and thereby adding to the Port’s revenue. During the year 1914, the trade in actual tonnage made a very substantial advance, but it might do even better and certainly will have to do so il we do not again, before very long,' find ourselves under the necessity of, paying a Harbour Rate. A cardul perusal of the Board’s balance-sheet, to the end of 1914 shows the amount spent in dredging last year was £19,095 9s Bd, and that the credit bid-' ance of the dredging account (the New Plymouth Harbour Board Loan, 1909) at 91st December 1914, was 1 £19,5/0 1 (is 7d. Assuming that a similar amount is expended on dredging this] year this balance will be practically absorbed. There is, however, the remainder of the £200,000 loan to be raised--a sum of £2s,ooo—but this .step will, of course, increase the sum of interest required by about L 1250 per annum. The £25,000 would at the rate of expenditure made last year, enable dredging to be carried on out of loan money for another couple ol y«ears, hut at the end of that time it appears that any further dredging must, of necessity, he done out of revenue, which it insufficient for requirements must he made up by a rate. The net profit on the Board’s working account last year is shown as £9051 (is Id. The Trust Account expenditure this year for interest and Sinking Fund Commissioners will he some £l-1,866. If it is assumed that the income for 1915 he £15,700 (made up, on last year’s figures, of £9OOO profit from working account, £4500 land revenue. £IBOO river endowments and £IOO interest on deposits) there will ho a credit balance of £B9l. But presuming the balance ol loan money (£25,000) is borrowed this year, in 1916 and 15)17, while this sum is being expended at the present rate of expenditure. £1250 of extra interest per annum will bq required, and a debit mi abmit £IOO would remit. D.

course, this is assuming that there would he no increase of revenue. Hut we do not by any means take such a pessimistic view, and hope that a very steady and substantial increase in revenue may be seen. As wo have before remarked, settlors and business people must help themselves by using the Port, and that is why we place before them some plain figures that they may realise they have a part to do if they wish to avoid an unnecessary and unwelcome burden in the shape of a Harbour Kate, it is 11,1 use waiting until the mischief is done before realising our position. Vor instance, if dredging is to be continued after 1917, the cost must come out of revenue, and it is safe to assume that even if sueh extensive work as is now being undertaken is not required, something will have to be done. In 1908 the Board’s revenue was £15,460, but in the year following, largely owing to the opening of the' Main Trunk Railway, it fell to £10,476, greatly upsetting calculations. The Board’s ordinary revenue has since steadily risen (with the exception of the year 1911) and last year totalled £13,240 16s sd, an approximate increase at the rate of about £7OO per annum for the past live years. If we cannot do better than that we ought to, and if we do not we shall suffer.