§ 16. Lieut.-Colonel ACLAND-TROYTE (for Brigadier-General CLIFTON BROWN)asked the Postmaster-General what becomes of the deposit moneys paid by individuals and business firms for telephone service; what did these deposits amount to last year; and what is the amount of interest that would accrue to the Post Office if these deposits were invested in Government securities?
§ Sir W. MITCHELL-THOMSONThe amount standing in the books as subscribers' deposits is about £2,600,000. It forms in the first instance part of the general balance of the Post Office out of which, after providing the necessary working balances, payments are made to the Exchequer on account of Post Office revenue earned and in hand. Accounts for telephone call fees are rendered at a considerable interval after the services have been performed, and the amounts in question, although standing in the books as deposits, are balanced by the accrued liabilities of subscribers for which accounts have not yet been rendered. No question of investing the amounts therefore arises.