BUSINESS IN AMERICA.

Waikato Times, Volume 107, Issue 17978, 25 March 1930, Page 9

BUSINESS IN AMERICA.

EFFECT OF THE SLUMP. FALL IN INCOME TAX REVENUE. United Press Assn. — Klee. Tel. —Copyright. WASHINGTON, March 23. According to figures compiled today the receipts from the first quarterly payments of income lax for 1929 appear likely lo reach a total of between 106,000,000 and £ 108,000,000. H is indicated that therefore the .March payments this year will fall off by less than 12 per cent, from the total last March, which was £119,000,000. The estimate is taken to mean that the stock losses in the recent slump resulted in deductions that reduced the taxes by about. £5,000,000. PROSPECTS FOR TRADE. IMPROVEMENT IN OUTLOOK. United Press Assn.—Klee. Tel. —Copyright, WASHINGTON, .March 23. IMr Julius Barnes, chairman of the President's National Business Survey Committee, has issued a report, covering practically every important line of, business and industry, which says Hie retarding factors are fading. Utility and power programmes arc well under way and a gain in building is forecast. Mr Barnes says that in general there are increased funds available for short and long lime securities. There is evidence that the general easing in bank credits is reaching the smaller centres, while the total bank loans are increasing.