PORT ADMINISTRATION 97
from a popular point of view to limit the expenditure and
activities of the port to its own area, and not to cater
for the larger district which lies outside the municipal
boundaries.
Company management suffers from the limitation of
its resources, and in the past such managements have
been found incapable of providing adequate funds for the
development of their ports. The competition which
prevailed among the companies in the port of London
certainly led to a financial crisis, the outcome of which was
the formation of the Port of London Authority.