§ Mr. SHORTasked the Postmaster-General the total amount of money held on deposit from telephone subscribers and the amount of interest received by the Department thereon?
Mr. CHAMBERLAINThe amount standing in the books as subscribers' deposits is about £1,500,000 and no part of it is placed on deposit at interest. It forms, in the first instance, part of the general balances of the Post Office, out of which, after providing the necessary working balance, weekly payments are made to the Exchequer on account of 2631W Post Office revenue earned and in hand. As accounts for telephone call fees (trunk and local) axe now rendered at a considerable interval after the services have been performed, it follows that the amounts in question, although standing in the books as deposits, are in fact as a general rule more than balanced by the accrued liabilities of subscribers for which accounts have not yet been rendered.