55

B.—l [Pt. Ill].

POST AND TELEGRAPH DEPARTMENT. Balance-sheet as at 31st March, 1921. Liabilities. Assets. Capital— £ s. d. Fixed assets and plant— £ s. d. £ s. d. ■ Capital funds .. .. .. 6,385,213 5 4 Postal buildings and Savings-bank Account— equipment .. 645,834 2 4 At credit of depositors .. .. 43,372,030 19 0 Telegraph buildings and On transfer New Zealand and other equipment .. 2,345,273 14 7 Administrations .. .. .. 33,905 411 Telephone buildings and Reserve fund .. .. .. 399,855 0 0 equipment .. 2,911,063 2 8 Suspense Account .. .. .. 4,78575 Wireless buildings and At credit Savings-bank Appropriation equipment .. 58, 697 0 0 Account v .. .. .. 241,344 310 Workshops plant .. 7,092 13 5 Sundry creditors— £ s. d. Money-order payees (for 5,967,960 13 0 unpaid money-orders) 114,118 16 7 Less depreciation .. 203,557 12 6 Other Administrations 5,764,403 0 6 on Money-order, Pos- Stores and stationery in stock .. .. 510,693 11 11 tal, and Cable Ac- Savings Bank Account— counts .. .. 152,761 4 3 Investments .. .. .. 42,813,536 9 7 Postal note payees (for Interest accrued on 31st March, 1921 .. 496,475 7 3 unpaid postal notes) 54,569 11 6 Other Administrations, on transfer .. 4,134 17 5 Sundry other creditors 240,503 0 5\ Sundry debtors — Other Government De- Other Administrations, partments, for balances on Money-order Acdue on 31st March, count .. .. 8,171 12 5 1921 .. .. 233,066 11114 Other Government De- — 795,019 4 9 partments (balances War-loan Certificates Account .. .. 5,293,938 12 0 due 31st March) .. 9,755 18 4 Post Office Investment Certificates Account 160,636 5 6 Sundry other debtors 13,995 6 1.1 Postmasters: For advances to Postmasters 31,922 17 8 of stamps, postal notes, British postal War-loan certificates—lnvestment's held in orders, war-loan certificates, and other Government loans .. .. .. 5,291,390 0 0 documents of value, including stocks held Post Office investment certificates— in General Post Office .. .. 779,214 3 "&\ Investments held in Government loans .. 154,500 0 0 Treasury Adjustment Account .. .. 47,897 2 9 Postmasters' balances held .. .. 1,259,249 6 10J Cash in bank (Head Office Account) .. 792,345 5 9 2,051,594 12 7J Loss on year's working— Telegraph Branch '.. 382,275 2 6f Telephone Branch .. 125,958 0 1 Wireless Branch .. 8,998 13 4 517,231 15 11J Less net profit, Postal Branch .. .. 122,043 4 \\ Net loss on year's working after charging 4 J per cent, interest on capital ... 395,188 11.10 £57,513,839 8 9J £57,513,839 8 9| The figures appearing in the balance-sheet as assets represent the recorded capital expenditure on buildings and works only, and an estimate in the case of certain other items. A valuation of all departmental assets is now in progress. In the Profit and Loss Accounts certain items of expenditure and earnings are included which had not been paid by or to the Department at the 31st Maroh, 1921. The division between the various services in some items of expenditure (known as " common-service expenditure ") is made on the basis of returns, and this allocation is necessarily partly estimated. No remuneration having been received for the following services, the estimated values have not been included in the accounts : — Non-departmental Government telegrams, £9,633 ; free postages for newspapers to public libraries, &c, £5,460.

POSTAL BRANCH. Profit and Loss Account for the Year ended 31st March, 1921. Dr. £ s. d. £ s. d. Or. £ s. d. To Salaries of officers.. 683,182 11 5 By Postages .. .. .. 1,273,586 1 8J Carriage of mails .. 290,295 13 11 ' Private box and bag rents .. 21,991 710 Working-expenses.. 213,417 3 1 Money-order and postal-note com1,186,895 8 5 mission .. .. .. 47,764 2 11 Depreciation .. .. 16,932 14 3 Miscellaneous revenue .. .. 8,897 16 6 Profit (before charging interest) carried down .. .., .. 148,411 6 3£ £1,352,239 8 11J £1,352,239 8 11£ £ s. d. Interest on capital .. .. 26,368 2 2 Balance brought down .. .. 148,411 6 3| Profit on year's working .. ..122,043 4 1|£148,411 6 3i £148,411 6 3}