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Waikato Times, Volume XXIX, Issue 2386, 25 October 1887, Page 2

Tun report ot’ tho Post and Tolo orii[ili Department for the year 188G is to liaud. The cash receipts amounted to £30G,4G0 Ids 7 cl, Ijeiiio mi increase of JL!9.08-7 2s 9d, or [J-dO per cent. The expenditure was £292,292 Ids Bd, being an increase on the previous year of £2,">20 19s lid, or o’d7 per cent. The revenue for the year was thus ,£11,1117 19s lid in excess of the expenditure, which may be considered very satisfactory. The Department also takes credit for the. large amount of work performed gratuitously for the public service, which represents the total value of £102,887 IGs Gd for free correspondence and telegrams. The report makes a mild protest against this expensive use of the services of the Depart,inert, and very properly expresses an opinion that economv is practicable iu that connection. Over thirty-eight million letters wore dealt with, and over 1,830,000 telegrams transmitted during the period. The number of odices open irf I OSD. witli a length of 454 G miles of telegraph lines, equal to 11,178 miles of wire, There arc 2012 subscribers to the telephone exchange. In the Savings i’.ink the transactions were 137,989 new deposits, amounting to l 1,2 18,405 Gs lid,and 89,182 withdrawals, amounting to £1,330,287 (is Id, or an excess over the receipts of £87,881 19s sd, which is accounted for by the high rates of ini crest ottered by private banks ■■■c! loan companies, an opinion which wo do not share, however, The total amount of interest credited to depositors during tho year was £o.>,Slh> 9s Gd, or Ti117,1 12 Is lOd since tiic establishment of the Post O'ilcc Savings llauk in 1807.