13. The promotion of Mr. R. Hogarth to Controller of Posts, and Mr. Lau Chuen Huen to Assistant Controller of Posts, was confirmed during the year.
FINANCE
14. The revenue of the Post Office showed a further con- siderable increase, and the total at $22,647,793.29 exceeded the estimate by $4,520,793.29. An increase of approximately 20%. This increase was primarily due to the increase in the number of air and surface parcels posted. The additional postings of this type of traffic, of course, resulted in an increase in payments for the conveyance of mails and expenditure was thus corres- pondingly increased to the extent shown below.
15. Wireless revenue totalled $1,543,816.41, which exceeded the estimate by $63,816.41. This increase was brought about by the increase in the number of domestic broadcast receiving licences issued.
16. Expenditure for all services was $12,256,146.81, an excess of $3,238,760.81 over the estimated figure. This increase was mainly due to the unexpected heavy increase in the number of air and surface parcels posted, involving heavy additional conveyance costs particularly by air. The increase in revenue, however, greatly exceeded the increase in expenditure.
STAMPS
17. The following stamps were made invalid after 31st December, 1954:
Coronation (George VI 1937) 4, 15 and 25 cents. Centenary (1841-1941) 2, 4, 5, 15 and 25 cents.
During the year one case of forgery of 50 cents Hong Kong stamps came to light. Through the vigilance of the staff the forgery was detected after only two stamps had been issued and persons concerned were arrested and convicted.
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