POST AND TELEGRAPH

New Zealand Herald, Volume LXIX, Issue 21245, 27 July 1932, Page 13

POST AND TELEGRAPH

A SATISFACTORY YEAR REVENUE SLIGHTLY LOWER MARKED DROP IN EXPENSES TELEPHONE RELINQUISHMENTS [riY TEIjEGRAFJI—own correspondent] WELLINGTON, Tuesday Results which are regarded as highly satisfactory, considering the difficult conditions of the past 12 months, have been achieved by tho Post and Telegraph Department during tho year ended March 31. 1932. The net revenuo of tho department, excluding interest on investments of depreciation money, amounted to £3,636,392, compared with £3,647,507 for the previous year. Expenditure amounted to £2,244,566, the figure for tho previous year being £2,800,647. , Some factors peculiar to the year accounted for the fall in revenue, but the net result was a slight increase in the value of business transacted. One of these factors, the payment of telephone subscriptions monthly instead of halfyearly, affected the position only as to the total received in cash within the 12 months. Effect of Higher Kates Tho drop in expenses was marked. Tho surplus of tho total cash receipts over payments was £920,664, compared with £402,772 for the previous year. The increased postage rates last year resulted in a considerable drop in transactions following a decrease which commenced in September, 1930. On the telegraph side, the decrease in business which has been apparent for many years continued, the total for the year being £70,230. This is not regarded as lost business, as the improved efficiency of the telephone toll service has transferred business to that branch during tho past five years. Toll traffic itself fell during tho past year by 10.5 per cent, a decrease representing £49,205. Prior to the depression, it had been increasing by 8 per cent per annum. In the telephone exchange branch thero was a drop in revenue of £20,575, a trifling amount, represented mostly by the loss of the Napier and Hastings exchanges owing to the earthquake. Last Quarter's Figures The decreased work reflected itself in the expenses, which dropped by £556,081, leaving the position quite a satisfactory one for the year. Figures for the quarter ended June 30 are also available. Compared with the corresponding quarter last year, there has been a drop in postages of £26,847. As penny postage was resumed on June 1, tho loss mentioned can be read as approximately the monthly difference between the two rates of postage. Telegraph revenue continues to decrease, being £6658 less than for tho corresponding quarter last year. In telephone revenue, the decrease is £22.601, due to a larger number paying subscriptions monthly and to some relinquishments. Toll work also shows a falling off to tho extent of £5614 for the quarter, but this is not unexpected, as many business firms have had to curtail their usual toll calls, and even domestic calls have diminished Cash Surplus for Quarter The revenue for the quarter amounted to £972,819, and tho expenditure to £533,304. After deducting £46,250 due to l lie Stamp Duties Department and '• .36,500 interest on capital liability, and n.-'king sundry adjustments, the cash . urplus for the quarter (from which provision has to be made for depreciation) is £274,723. Generally speaking, the department's business is regarded as quite satisfactory. Although much has been said of the alleged wholesale relinquishments of telephones, the figures are illuminating, states tho department. For the year ended March 31, the net loss was 2.9 per cent of tho whole. Up to the end of last month, the loss was 3.89 per cent, which is considered very satisfactory, as thero always less business in winter time.