B.—l [PT. IV], SUP. TO 1938.

POST AND TELEGRAPH DEPARTMENT—continued. SERVICE GARAGE. Profit and Loss Account fob the Yeae ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Working-expense® .. .. .. .. 91,473 011 Revenue .. .. .. .. .. 114,609 1 4 Depreciation (6) .. .. .. .. 18,182 5 4 Profit before charging interest on capital carried down .. .. ~ .. .. 4,953 15 1 £114,609 1 4 £114,609 1 4 £ s. d. £ s. d. Interest on capital (a) .. .. .. 8,316 15 4 Profit brought down .. .. .. .. 4,953 15 1 Loss on year's working transferred to General Profit and Loss Account .. .. .. 3,36303 £8,316 15 4 £8,316 15 4 GENERAL PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31sT MARCH, 1938. Dr. £ s. d. Cr. £ s. d. Postal Branch: Loss .. .. .. 153,001 10 7 Toll Branch: Profit .. .. .. 159,185 6 8 Telegraph Branch: Loss .. .. .. 77,366 5 2 Telephone Branch: Profit .. .. .. 90,240 14 6 Wireless Branch: Loss .. .. .. 12,766 13 3 Service Garage : Loss .. .. .. 3,363 0 3 Net profit .. .. .. .. .. 2,928 11 11 £249,426 1 2 £249,426 1 2 GENERAL PROFIT AND LOSS APPROPRIATION ACCOUNT FOR THE YEAR ENDED 31st MARCH, 1938. Dr. £ s. d. Cr. £ s. d. Payment to Treasury .. .. .. 255,282 16 6 Balance .. .. .. .. .. 286,766 4 6 Expenditure chargeable against Profit and Loss General Profit and Loss Account .. .. 2,928 11 11 Accounts for previous years .. .. 22 8 4 Balance —■ (1) Post and Telegraph Act, 1928, section 95 (d) : Due £ s. d. to Consolidated Fund .. 2,928 11 11 (2) Retained by Post Office Account .. .. 31,460 19 8 34,389 11 7 £289,694 16 5 £289,694 16 5 SAVINGS-BANK BRANCH. Profit and Loss Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. £ s. d. Interest credited to depositors .. .. 1,668,256 911 Interest received .. 1,860,347 8 4 Management expenses .. .. .. 178,961 0 3 Plus interest accrued to Balance carried to Appropriation Account .. 66,981 19 5 31st March, 1938 .. 391,537 1 8 2,251,884 10 0 Less interest accrued to 31st March, 1937 .. 377,706 5 0 — 1,874,178 5 0 Sundry receipts .. .. .. 40,021 4 7 £1,914,199 9 7 £1,914,199 9 7 Appropriation Account for the Year ended 31st March, 1938. Dr. £ s. d. Cr. £ s. d. Savings-bank profits paid to Consolidated Fund 65,000 0 0 Balance brought forward .. .. .. 68,142 14 10 Balance carried forward .. .. .. 70,124 14 3 Profit and Loss Account .. .. .. 66,981 19 5 £135,124 14 3 £135,124 14 3 Balance-sheet of the New Zealand Post Office Savings-bank as at 31st March, 1938. Liabilities. £ s. d. Assets. £ s. d. Balance at credit of depositors'accounts .. 63,196,040 0 4 Cash on hand and at bank .. .. 509,409 10 9 Letters of credit and other liabilities 34,523 6 6 Investments .. .. .. .. 63,578,764 17 11 Reserve Fund .. .. .. .. 1,172,622 1 6 Interest accrued on investments .. .. 391,537 1 8 Advances to Postmasters, &c., of stamps, &c. 1,468 8 9 Thrift stamps held by teachers .. .. 67 1 0 Advances for school savings-bank expenses .. 5,000 0 0 Profit and Loss Appropriation Account .. 70,124 14 3 £64,479,778 11 4 £64,479,778 II 4 P. Cutforth, A.R.A.N.Z., Director of Accounts. G. McNamara, Director-General, Post and Telegraph Department. I hereby certify that the Profit and Loss Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. J. H. Fowler, Controller and Auditor-General.

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