D.—2.

THROUGH BOOKING OE PARCELS AND GOODS. The volume of traffic conveyed by the Department's through - booking system increased by 3,555 tons for the year. The service was instituted in May, 1925, and the tonnage for the year ended 31st March, 1926, was 5,183. The traffic has increased year by year since, and the tonnage carried in the past year was 20,097 tons.

ADVERTISING SERVICE.

An analysis of the revenue for the year under review is as under : — 1932. 1931. Variation. £ £ £ Outdoor advertising .. .. .. 35,954 44,781 —8,827 Publications .. .. .. .. 1,841 2,514 — 673 Printing .. .. .. .. .. 1,442 —1,442 Miscellaneous.. .. .. .. 1,016 1,053 — 37 Advertising in buses .. .. .. 501 151 + 350 £39,312 £49,941 -£10,629 New business written up during the last four years is as under 1932. 1931. 1930. 1929. £ £ £ £ Outdoor advertising .. . . 26,415 47,948 63,706 72,230 Publications .. .. .. 1,859 3,338 4,595 4,597 Printing 1,442 3,641 2,633 Miscellaneous .. .. .. 767 904 2,351 1,534 Buses 749 151 219 1,019 £29,790 £53,783 £74,512 £82,013 During the past year trading conditions in the Dominion have been difficult, and advertising has suffered as a result. The new business written up during the year was £23,993 less than the previous year. The total revenue decreased by £10,629, due to the decline in business during the past three years and also to the fact that a number of contracts have had to be cancelled while in other cases reductions have been made in rentals. On the expenditure side substantial economies have been made and the decline of 25-22 per cent, under this heading has resulted in an improvement in the net profit to the extent of £1,649 as compared with the previous year. The expenditure figures include the amount debited to this branch for rent of land and buildings, right to display advertisements on railway buildings, commission on cash collected by other branches, and interest on capital employed in the business charged under these headings : total, £12,692. The total financial benefit which accrued to the Department from the operations of this Branch during the year was therefore £15,590.

REFRESHMENT SERVICE.

XVI

I i i Variation. | 1932. 1931. | 7 Amount. Per Cent. j £ £ £ Revenue .. .. .. 39,312 49,941 —-10,629 21-28 Expenditure .. .. .. 36,414 48,682 —12,278 25-22 Net profit .. .. .. 2,898 1,249 + 1,649

Variation. 1932. 1931. Amount. Per Cent. £ £ £ Revenue .. .. 82,234 116,665 -34,431 29-51 Expenditure .. .. 80,553 113,324 —32,771 28-92 Net profit .. .. £1,681 £3,341 —£1,660