AUSTRALIAN DEBTS

Hokitika Guardian, 8 September 1930, Page 6

AUSTRALIAN DEBTS

NON-PARTY PROGRAMME. FEDER AL , CABINET DECISIONS. f United; Associatiofi-^'B^^L’itqt^rU' oikgi-uph—Copyrigh w The Fettpil.l Cabinet epncdudetj," lb* meeting 1 on Saturday afttSfitkfti 'with; a poiiij. IUo agreement on necessity ba lancing tliej Cquinipu-' wealth Budget. It was ktatpcl that the only, tvlfernative to ah lti&eijsein the unemployment was % national lion-party, programme behind' .which, the whole';community coAld . ifrtßy vj«|C A Cabinet sub-committee w ill done ter will), the represent a! ires of the employers and the employees'. Severe economies wiii be enforced in i the' Commonwealth administration,’ while the , taxation on the . sheltered incomes will, be further explored. The acting Federal Prime Minister, Hon. MA Fenton in his statement on the meeting, included" - the •announcement that Sir Robert Gibson, whose tpnit,:;aji Oliairman of the Commonweal tb. Bank Directorate expires this month,! was reappointed. T He. also announced that the vacancy on the bank’s Board of Directors was filled by : the appointment of Mr Maurice Duffy, of Melbourne. FURTHER SLUMP. SYDNEY, Sept. 7. • The invetsment business being .done on the stock exchanges in Sydney and Melbourne is infinitesimal. The bears have now- adopted as their slogan: “Sell everything.” Consequently many investments are dirt cheap, while their capital security is equally as sound as it was months ago. There is an inability- to establish a stable level of prices. This lias scared the investors, who have withdrawn from the market until the outlook is brighter. Rank shares are now below par. while brewery and gas shares have touched their lowest loyal l ol ' y ears *