The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1925-01-03

mated rate a most Suhstan-
tial Increase over 1874 which likewise
had exceeded the 1899 record Thru
nut the past two years there has
been a steady recovery and develop
ment OF Seattle commerce folloNin.
tho past war period Of world wide
readtustmrnt.
IL l. gratifying 20 record for 1924
n total volume u ocean. borne COM
merce which bids fair 20 set new
marks as the banner year Tor the
Pacific Northwest In general, and the
port % Seattle tn particular. And
unless AL signs fail the 1924 progress
will carry on" with Increasing mo-
mentum and results turnout 1875,
While this steady and permanent
gain and the even more promising
outlook Is Justly credited 20 al the
various agencies. public aud pirate,
which make up the great commercial
community. u should be recognized
that the public port facilities, pro-
vlded and administered by the author
ity and with the credit OF the publicly
organized port OF seattle. have proved
the dominant factor in the attraction.
retention and expansion OF lines OF
commerce. old ana new.
During the II months. January to
November. and with December est.
mated at last years figures. 1924 VIII
show gross earnings for the various
services rendered at the public ter
nninals Of the port OF Seattle. 10 a
total OF si.056.0S2 which represents
about two million tons % commod,
tiles received. stored and shipped
over the public port facilities,
During 1898 port earnings wcre
sss4 .esS and In 1899 was S92o.59l. An
current expenses incident TO business
operations. maintenance and upkcep
OF the public port properties viii total
as follows: 1924 December estimated
s7s3. 737; 1898. sT57,74l; 1922. sll2.23i.
Port earnings In 1924 show ;si,oS9.
or 9.44 per cent increase over 1898,
while port expenditures increased
only 1926. or $50 per cent. during
the same period. Port earnings IN
1924 similarly show an improvement
OF 1854 or 1912 per cent, as COM
pared with 1922. while port expenses
increased only 81. sos. or 1893 per
cent. The net showing OF the port OF
seattle In all its business operations
thruout 1924 will be at least f45,lVS
Improvement over 1928. and So5'sss
lncrease as compared 10 1922.
Bond Interes, requirements and de-
probation allowances viii total S4e9,'
$50 Tor 1924. as compared 10 1851 Jos
in 1928. and y5l1. ss5 in 1929. BY rea-
son OF the increasing net earnings
from business operations these fixed
charges are being met from revenues
In constantly increasing proportion.
During 1923 this requirement was re-
duced to $40. 06T. and the 1924 Item
win show not moro than ilso,5I5.
The financial record Of the port OF
Seattle for 1924 may be summed up
as showing a net gain OF 1272.3f5
from business operations, which
earned si.05s.0s2 gross revenues.
This net gain will meet and offset
nearly 50 per cent OF the fixed
charges OF s4s3,9 go required for bond
interest and depreciation charges,
leaving $780, 75 to be provided from
taxation.
As comparison. II should be graft
flying TO Seattle taxpayers to know
that their SO. 900 900 investment in
public port facilities now requires
only one-tenth OF the proportionnte
current taxation for the port OF As
toria, about one.fifth Of the tax levy
upon Portland and one-half that OF
other public ports Of Puget Sound
and Grays Harbor.
Tho 1926 outlook indicates more