FRENCH FINANCES STRENGTHEN
Preie A«sn.— Copyright.)
New T^x Proposals Cause Risf on Bourse BAD DAY FOR BEARS
Bv Telecranli —
(Received 18, 11.0 a.m.) PARIS, June 17. The Prench Premier 's, M. Blum's, new flnancial pfoposals include a tax on dividends above 6 per cent. Limited companies will be obliged to gradually invest their legal reserves in Government securities, and the legal reserve is fjxed at 10 per cent. of the reservo capital, The incidence of the income tax "will be changed and steps will be taken to speed up payments of direct taxes. Railway, postal, telegroph and telephone ratee will be raised and stamp duties increased. AU French rentes and Treasury securities rose on the Bourse, but itwas a bad day for the bears. The Bourse conditions are apparently a happy augury for M. Blum.
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Hawke's Bay Herald-Tribune, Issue 130, 18 June 1937, Page 5
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135FRENCH FINANCES STRENGTHEN Hawke's Bay Herald-Tribune, Issue 130, 18 June 1937, Page 5
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