NEWSPAPERS’ REVENUE

Press, Volume XCVII, Issue 28530, 8 March 1958, Page 14

NEWSPAPERS’ REVENUE

Effect Of Import Control (Nejw Zealand Press Association) ROTORUA, March 7. A warning that the immediate prospect was for diminishing revenue from advertising, was given members of the Newspaper Proprietors’ Association today by Mr S. D, Smith, of Dunedin. Mr Smith, who is retiring from the office of president which he has occupied for the last five years, said that overseas manufacturers with their goods either excluded from New Zealand or to b(e admitted in reduced quantities could be expected to reduce their advertising programmes. The industry must face the fact that there was little hope of halting the continuous upward trend in costs, especially for wages and services. It was a reflection of our way of life in New Zealand, he said, that, when the value of our exports fell, we to adopt drastic disruptive and irritating measures to reduce imports. It should be possible whereby a fall in export revenue could be cushioned without disrupting the business community. The newspaper industry had cooperated fully with the Government and with the Tasman Company in reducing New Zealand’s overseas spending on newsprint imports, he said.