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Postal deficit wiped out by Hitchcock
Washington May 28 For the first time in postal history the deficit is gone and a $1,000,000 surplus for the current year ending June 39 is in the treasury to the department's credit. Postmaster General Hitchcock signed a warrant returning $3,000,000 to the secretary of the treasury the last of the amount set aside to aid postal expenses. A reform plan deposits postal funds not needed for disbursement, freeing millions. Hitchcock said revenues should cover expenses for the rest of the year and July 1 may show a $1,000,000 plus surplus.
MENTIONED IN THIS ARTICLE
Washington
Post Office Department
Treasury
Department
Hitchcock
Secretary of the Treasury
Postal Service
Postoffice Department
Hitchock