POST OFFICE SURPLUS
MINISTER’S STATEMENT Press Association WELLINGTON, Friday. Following his announcement at Merton that the Postal Department ho: just completed the best year Eincei.inception, the Postmaster-Genm Hon. W. Nosworthy, to-day made & detailed statement disclosing the result of the operations of the Poot.;: 4 . Telegraph Department for the financyear ended March 31. The Minister stated that the exprediture had been £2,346,274, and the receipts £3,220,666, leaving a surplof £874,392. In the 1925-26 period the revenue increased by £200,000, an! the expenditure decreased by £7ii" During 1926-27 the revenue increasby £120,000, while expenditure dipped by £63,000. In two years, therefore, the department had effected * reduction of £70,000 in expenditure while obtaining an increased reven. to the extent of £320,000. Deposits in the Post Office Saviaps Bank during the year totalled approximately £29,456,000; and Withdrawals approximately £30,149." Those figures represented decrease : comparison with the totals of la* year of £2,377,238 and £2,452.*:: respectively. Notwithstanding the f* cess of withdrawals over deposit?.nAccumulated Fund would be incrav from £47,911,321, to £49,000,000.
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Bibliographic details
Sun (Auckland), Volume 1, Issue 32, 30 April 1927, Page 8
Word Count
167POST OFFICE SURPLUS Sun (Auckland), Volume 1, Issue 32, 30 April 1927, Page 8
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