Post_Office_1960-1961 — Page 9

28. Expenditure on all services totalled $26,540,502.45, showing a saving of $688,397.55 on the estimated figure.

REMITTANCE SERVICES

29. The number and value of both money order and postal order transactions again showed an increase over the preceding year.

30. Money orders issued and paid totalled 23,696 valued at $3,703,117.49 as against 22,013 valued at $3,302,973.87.

31. Postal order transactions totalled 414,419 valued at $18,603,375.83 as compared to 266,052 valued at $12,322,956.79 in 1959-60. 337,083 orders with a value of $16,180,267.23 were paid.

32. The combined total of $22,306,493.32 in respect of money and postal order transactions exceeded the total recorded in 1959-60 by over $6,680.000.

33. Revenue in the way of commission derived from these services showed a corresponding increase, the total of $94,799.64 exceeding the previous year's total by over $13,000.00.

STAMPS

34. Two new stamps with values of 65 cents and $1.30 were placed on sale for the first time on 20th June, 1960. These values represent the second and first class rates to countries in Zone 2 of the air mail rate structure and the introduction of the stamps dispensed with the necessity to use two stamps for each rate.

35. It was also decided during the year to issue a special multi colour stamp to commemorate the Golden Jubilee of the Hong Kong University. Preparations were made for the production of the stamp which is to be placed on sale early in September 1961. Work on the proposal to issue three stamps to commemorate the Centenary of the Hong Kong postage stamp in 1962 and also to introduce a new definitive issue embracing all values continued during the year.

36. Owing to the sudden very sharp increase in postings which occurred during the latter half of the year the stock of some denomina- tion of stamps was exhausted and this, with the serious delay in supply by the printers, added to the counter and accounting branch difficulties.

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