AUCKLAND HARBOR BOARD

Gisborne Times, Volume XXVI, Issue 2189, 13 May 1908, Page 2

AUCKLAND HARBOR BOARD

A FORWARD POLICY. PROPOSED LARGE LOAN. Press Association. , AUCKLAND, May 12. At- a meeting of the Harbor Board to-day, the statement of accounts for the year 1907 was presented by the chairman (Hon. E. Mitchelson). The total receipts for the year, including the balance brought forward, amounted to £122,725, and the net revenue was £93,774, as against £83,582 for 1906, thus showing an increase of £10,191. There was every reason to expect that the average increase for the past five years would be more than sustained during the ensuing quinquennial period.. The profits on last ’'ear’s transactions totalled £27,164, and the present excess of assets over liabilities was £505,404 “The great problem to be solved was, he said, “how to keep pace with the largely growing traffic, and to this end the Board had wisely resolved upon a forward policy, which, when carried out, would make the port of Auckland the most progressive .and up-to-date in the Southern Hemisphere, and a Bill, authorising the raising of a million loan to give effect to a continuance of the Board’s policy, would lie presented to Parliament during the coming session.”