Government Insurance and Post Departments.

Hawera & Normanby Star, Volume IX, Issue 1754, 14 October 1887, Page 2

Government Insurance and Post Departments.

The annual report of the Government Insurance Department has been published. The income for the year amounted to £255,603 or £14,826 in excess of the previous year. The accumulated fund of the department was increased during the year by £129,899. The temperance sectiou shows a deficiency of £2790. The actnaries' remarks on the subject of the deficiency need cause no uneasiness, as no surplus coujd have been expected pq accrue during the short period (three years and a half) of existence of this separate. Bection. The net cash profits, after allowing the temperance deficiency, was shown at £242,556. The Bystem recently introduced of lending money on mortgage, by which the morgagees make the repayment of the principal and interest by half-yearly instalments over a term of years, has been remarkably succesßfhl.alargeTiumber of applications being received. Several loans have been completed,, after careful selection. The death .rate of the colony - -compares wonderfully we ll with that of the, other colonies, being only' 1016; whereas it runs from 1248 in South Australia, and as bigh as 19*58 in Queensland. Some very interesting figures may be gleaned from the report.*;- In the 'Post and Telegraph no less than 37,084,592 letter*;, were posted and received; " 1,836,266 telegrams were

werje clotted. Tti& total Vumber^penat the end of 1886 was 1089, and the lenghtlj -of telegraphs '. 4846 milelr A sum^of £1,248,405 was deposited during the year by Savings Bank depositors. Tbe sum now to tbe credit of depositors was £1,615,976, and tbe funds invested amounted to. £1.586,-341, the interest -received and accrued being £73,669. Tbe average number of letters posted to each j person was 29 15. An ugly feature ih~ the report was tbe vast increase in tbe value of official correspondence sent free, being £4776 ; free telegrams by 11,682 in number, £3420 in value. Tbe report says it is believed that economy should be practicable in respect of both items. The net profit on the Telephone Exchanges amounted to £5671, or 12 per cent, for the year on the capital invested.