24. Postal order transactions rose to a new record level with 1,487,235 valued at $38,604,153.42 as compared with the 1961-62 num- ber of 864,097 worth $29,706,898.75. Most of the increase was in paid orders representing in the main the remittances made by emigrant workers in Britain to their families in the Colony.
25. The combined total of $42,348,993.71 in respect of money and postal order transactions exceeded the 1961-62 figure by over $8,932,000.
26. Revenue by way of commission derived from these services registered a corresponding increase, the total of $151,780.96 exceeding the previous year's total by over $31,000.
Postage Rates
27. One important rate reduction occurred during the year. On 8th December, 1962 the postage on small packets to China was lowered from the general international rate previously in force to a preferential scale which in effect reduced the postage by one-third.
28. Following investigations carried out in the preceding year parcel postage rates to a number of countries were appreciably reduced on 1st April, 1962. Unfortunately, increased handling costs in some of those countries have since created the necessity of raising the Hong Kong postage rates again.
Stamp Vendors
29. A total of 23 additional stamp vendor permits were issued and 8 permits revoked during the year. This brought the total of persons licensed by the Postmaster General to sell stamps and air letters in the Colony to 335.
Stamps
30. Three stamps bearing a face value of 10c. 20c. and 50c. were issued on 4th May, 1962 to commemorate the hundredth anniversary of the first Hong Kong stamp issue. Based on a prize-winning design submitted by a local artist, Mr. CHEUNG Yat-man, in the Colony's worldwide Stamp Design Competition in 1958, the stamps were each printed in two-tone colour by Messrs. Harrison & Sons using the photo- gravure process.
31. A specially printed envelope for the first day of issue together with a presentation descriptive booklet was sold at the two principal
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