S. AFRICAN POST OFFICE

Wanganui Chronicle, Volume 79, Issue 30, 5 February 1935, Page 11

S. AFRICAN POST OFFICE

£41781 PROFIT, 1933-34. (From Our Own Correspondent. ) .JOHANNESBURG, Dec. 14. Willi £8,738,911 boosted on telephone and telephone equipment in South Africa, the Port Office made a profit of only £41,781 on this service during the 1933 34 financial year, this being a return of less than half per cent, on the money invested. The Postmaster-General, Mr. H. J. Lenton, in his annual report released for publication yesterday, states that, the favourable balance is the first reflected for many years. He considers it is due to the continued prosperity of the country and the intensive sales propaganda campaign conducted hy the department. The telegraph service of the. depart ment resulted in a loss of £110,416, but in spite of this the rate on telegrams was reduced on July 1 this year. On the postal section of the depattn.enf’s activities there was a profit nf £774,881. The total revenue for the vear was £1.923,126, an increase of £76,675 over the previous year Mr. Lenton points out that these figures were based on lhe two penny postage and that the new year will probably reduce the profit substantially. This is the first time that the Post Jtliee has published a profit and los< iccount, and Air. Lenton explains that fhis has boon possible only after * Treat deal of hard work in overcoming accounting difficulties. “The difficulties referred to barf boon experienced bv all service? throughout the world, and while tic country, conducting posts, telegraphs ind telephones under one adniinistrn tion, claims that its dissected accounts, owing to their close association, can bo regarded as accurate, the accounts now made up for the Union are, sufficiently accurate to serve as a guide to indicat** which departments are being run at s profit and which at a loss.” Mr. Lenon remarks. i