THE PORT.
PROBLEM OF FINANCE. LOAN WORKS MAY STOP. PORT’S EXCEPTIONAL PROGRESS. Harbor Board affairs were dealt with by Mr. Newton King (chairman of the board) at the meeting of ratepayers in New Plymouth last night. Mr. King said that as far as the finam ial aspect was concerned the board was in much the same position as the Borough Council. He said it was two years ago since the board took authority to borrow £300,000, and at that time money was plentiful in the Dominion, although it was difficult to get in England. It was not considered desirable to raise ■ a loan for the whole of the £300,000, as it was estimated by the engineers that £40.000 per year would be required, and arrangements were made for the payment of the moneys for a year ahead, and these instalments had been paid. There was one quarter’s allotment of £lO,OOO still due, but that was all that was now in flight. Endeavors had been made some time ago to get a definite promise as to the payment of moneys in the future, but none could be obtained, though the board was informed there would probably be no trouble. Since then, however, the financial crisis had come, and it was almost impossible to get any money. The board would have to decide at its next meeting as to the plans for the immediate future, and if they could not get any further financial assistance ’would probably have to close down the loan works in the meantime, though, of course, retaining the dredging and other work, which Jiad been carried on for many years past. So far as the progress of the port was concerned, electors knew that it had been exceptionally good. He had nothing but satisfaction in that respect, and the revenue was steadily increasing. Quoting the figures in respect to the quarter just passed, Mr. King said the tonnage of the vessels entering the port was 43.299. as against 24,988 in the corresponding period of last year. Imports were 25,392 tons, as against 17,327 in 1920, and the exports were 10,133 tons as against 4698 tons. By these it would be seen that the port was growling immensely—in fact it was growing quicker than the board could really manage with the berthing and conveniences at their disposal. Within the next month there would be five ocean going vessels due at the port, and he said they would recall the time when many people had ridiculed the idea that big vessels would ever come to New Plymouth. In addition to the list of , vessels expected, others were looming up, and there seemed no likelihood of any cessation of this class of trade. A regular import service would enable business houses to escape the charges of getting their' goods through Wellington, which were becoming very heavy. The New Plymouth Board had ihereased the wharfage rate, but had not advanced it so much as some boards had done. There were cases where the rates were increased to meet the falling revenue, but he was pleased to say his board had not been in that position.
Touching on the question of getting stone from Paritutu, Mr. King said he had noticed some controversy about the matter. He desired to say that the members of the board regretted very much having to interfere, but there had been no alternative. Stone from either Moturoa or Mt. Egmont would cost too much, and the present quarries were worked out. They had therefore decided to have a test made of Paritutu. His personal opinion was that if it was a question of the preservation of Paritutu against the harbor development, it was their duty to vote for the harbor, however much the action was to be regretted. Referring to the resolution passed by the Council of the New Zealand Academy o'f Fine Arts, he characterised it as it gross piece of impertinence, and remarked that that body must be under the impression that the board delighted in tearing down Paritutu.
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Taranaki Daily News, 21 April 1921, Page 5
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673THE PORT. Taranaki Daily News, 21 April 1921, Page 5
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