F.—l.

1931. NEW ZEALAND.

POST AND TELEGRAPH DEPARTMENT (REPORT OF THE) FOR THE YEAR 1930-31.

Presented to both Houses of the General Assembly by Command of His Excellency.

To His Excellency the Right Honourable Baron Bledisloe, P.C., Gr.C.M.G-., K.B.E. May it please Your Excellency,— I have the honour to submit to Your Excellency the report of the Post and Telegraph Department for the year ended 31st March, 1931. RECEIPTS AND PAYMENTS. The revenue collected during the year exceeded that for the previous year by £65,800. The sum received was £3,707,420, compared with £3,641,620 for 1929-30. The working-expenses amounted to £3,304,648, while an amount of £400,000 was invested for the purpose of renewal and replacement of existing assets, thus leaving a balance of receipts over payments of £2,772. The amount of uninvested funds carried forward was £55,670. Interest on capital liability, which is included in the working-expenses, totalled £504,000, an increase of £23,000 on the amount paid for the previous year. SAVINGS-BANK. The withdrawals from the Post Office Savings-bank exceeded the deposits by £3,531,769, the respective figures being £28,063,338 and £24,531,569. The interest credited to depositors was £1,763,825, so that the accumulated funds decreased by £1,767,944. The sum at the credit of depositors is now £47,668,547, the per capita average for the Dominion being £31*51. HAWKE'S BAY EARTHQUAKE. The earthquake in Hawke's Bay on the 3rd February had a most disastrous effect on the Department's communication systems and on departmental buildings and plant in the affected area. The capital loss to the Department is estimated at not less than £175,000. The capital value of telegraph and telephone equipment totally destroyed is estimated at £52,000 ; while the cost of restoring telephone and telegraph" equipment partially destroyed will in all probability reach £25,000. The cost of reconditioning the Napier Chief Post-office building, of replacing the damaged portion of the Hastings building, of erecting a new post-office building at Port Ahuriri, and of repairing damage to other buildings is estimated at £50,000. The Department was also involved in expenditure or loss in numerous other ways, such as the destruction or abandonment of other buildings and property, the

I—F. 1.