AUSTRALIAN SECURITIES

Hawera Star, Volume L, 5 February 1931, Page 7

AUSTRALIAN SECURITIES

HARDENING IN LONDON. EFFECT ON DIVIDENDS. 1 (Uuuctl I’imi Association—By Electric Telegraph Copyright) LONDON, Feb. 3. The newspapers are not losing any opportunity to inform their readers as to the significance of the latest news of the economic crisis in Australia. The “Morning Host’s” City Editor writes: “The present interest in Australia lias shown the anxiety with which the Parkes by-election was awaited. The result has caused securities to harden, as the Nationalist victory is regarded as an expression of public opinion in Australia in favour of the crisis being handled on sound, not inflatory, lines. The financial columns of the papers also discuss and explain the hardship effects of bank dividends 'being paid to British shareholders at the current rates of exchange. PLIGHT OF COMMONWEALTH. HEAVY DEFICIT CERTAIN. j CANBERRA. Jan. 3. A deficit of at least £10,669,000 for the Commonwealth at the end of the I financial year appears certain. The figures show that for the seven months ended January 31 the Customs revenue was £5,334,510 and the postal revenue £1.016,104 less than the estimates. WORSE EVERY DAY. DEFICITS OF GOVERNMENTS. £31.000.000 SHOIITAG R.

The Premier. Mr. L. L. Hill, told a deputation that it Avas probable that the accumulated deficit of various Goa - - ermnents Avould amount to £'20.000,000 on June 30 and that £11,000.(X10 would represent the indebtedness of the federal Government. The financial position was becoming more 'embarrasing every day,' although a large section of tin; public failed to realise if.