P. AND T. OFFICE.
ANNUAL REPORT
INCREASED BUSINESS.
(BY TELEGRAPH —PRESS ASSOCIATION.) WELLINGTON, Aug. 27. The annual report of the Rost and Telegraph Department was tabled in the House this afternoon by the Post-master-General (Hon. J. G.’Coates). During the discussion several members suggested that a higher rate of interest should be paid on Post Office Savings Bank deposits. Mr. Massey, in reply, said the difficulty was that if a higher rate was offered it would result in money being withdrawn from other businesses, which already had difficulty in carrying on. The Postmaster-General, in reply, said that increases in salaries this year due. to regrading would result in increased expenditure to the department of £IIO,OOO. This year the deposits in the Post Office Savings Bank exceeded the withdrawals by £88,851. Increased business was steadily enabling them to overtake the loss originally made in connection with the introduction of penny postage.
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Bibliographic details
Hawera Star, Volume XLVIII, 28 August 1924, Page 5
Word Count
149P. AND T. OFFICE. Hawera Star, Volume XLVIII, 28 August 1924, Page 5
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