FRENCH FINANCE
MEETING THE CRISIS THE PREMIER’S PROPOSALS TAX ON DIVIDENDS INCLUDED (United Press Association) (By Elcclric Telcgiaph—Copyright) PARIS, June 17. M. Blum's financial proposals include a tax on dividends above 6 per cent. Limited companies will be obliged gradually to invest legal reserves in Government securities. The legal reserve is fixed at 10 per cent, of the reserve capital. The incidence of the income tax will be
changed and steps taken to speed up payments of direct taxes. The railway, postal, telegraph and telephone rates will be raised and stamp duties increased. A HAPPY AUGURY PARIS. June 17. All the French rentes and Treasury securities rose on the Bourse, but it was a bad day for bears. The Bourse conditions apparently are a happy augury for M. Blum.
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Otago Daily Times, Issue 23221, 19 June 1937, Page 13
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129FRENCH FINANCE Otago Daily Times, Issue 23221, 19 June 1937, Page 13
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