POST OFFICE FINANCES.

New Zealand Herald, Volume LVIII, Issue 17776, 9 May 1921, Page 4

POST OFFICE FINANCES.

BALANCE OF ONLY £35,000.

VOLUME OF BUSINESS REDUCED. [BT TELEGRArH. —PRESS ASSOCIATION.] WELLINGTON. Saturday. A statement regarding the Post and Telegraph Department revenue and expenditure for the year ending March 31 last was furnished by the PostmasterGeneral. Hon. J. G. Coates, to-day. Compared with those for the previous financial year, the figures are as follows: — 1920-21 1913-J!0 £ £ Revenue 2.589.364 2,106.995 Expenditure . . . . 2.554.087 1,344.161 Excess of revenue . . 35,277 162,634 The actual revenue was £60,636 less than the amount of the estimate. The increase in telegraphic rates during the year had a marked effect upon the volume of telegraph traffic, the number of telegrams in all codes during the whole year being 1,073,149 less than in the previous year. The telegram revenue for the year, £691,484, however, was £87,263 in excess of the revenue for the previous year. The telephone exchange revenue in 1920-21 was £533,535, against £419,318 in the previous year, the increase being due largely to the abnormal number of new connections made. These numbered 8500. It has to be remembered that the department had the benefit of the increased rates for only eight months of the year. In regard to expenditure, the amount voted was unexpended to the extent o! £111,955. The vote for telegraph extension out of the Public Works Fund was £500,000, and the net expenditure T&as £336,696, the amount not spent £164,304. Comparative returns showing the reve nue for the March quarters of 1920 and 1921 are as follows:— 1921 . . . . .. .. £705.020 ' 1920 .. ... .. .. £564,330 Increase £140.690 The number of ordinary telegrams during the March quarter shows a falling off of nearly 500,000, and the number of urgent telegrams decreased by 100,000. The higher tariff is no doubt responsible for the decreases. .There was, however, an in- ' crease in telegram revenue of £20,000. The number of press telegrams during the last quarter shows a slight increase. The raising of the press rates did not, however, take effect until February 16 last. The telenhone. exchange receipts during the first three months of 1921 show an increase of £31,000.