OVERDRAFTS RISE IN MARCH
Reflecting the pressure of anual income tax payments, bank overdrafts rose £15.6 million between mid-February and midMarch, according to preliminary Reserve Bank statistics. The March 16 figure of £180.9 million was still £4.0 million below the figure for mid-March, 1959. Net Government indebtedness to the Reserve Bank was £102.1 million on February 24. This figure shows a rise of £41.7 million in 12 months. J. Gadsden (Aust.).—J. Gadsden Australia, Ltd., canister making group, has joined with the Van Leer world-wide packaging organisation in a new packaging venture. A company. Australian Packaging Industries Pty., Ltd., has been incorporated in Canberra. Its nominal capital is £1 million. J. Gadsden and Van Leer will have equal shares in the new company, which will specialise in steel and complementary packages of two-gallon capacity and over. O perations initially will be in Sydney and Melbourne.
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Press, Volume XCIX, Issue 29173, 6 April 1960, Page 23
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144OVERDRAFTS RISE IN MARCH Press, Volume XCIX, Issue 29173, 6 April 1960, Page 23
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