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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Aug 13, 1957
Page
14
Melbourne reports a 20 percent devaluation of the French franc could prompt price cuts on many French imports. Officials expect cheaper French goods may shift some overseas allocations, with wool and other items possibly spared from new taxes.
Australia shows a surge in hire purchase debt with totals at £234,381,000 for June and £211,608,000 a year earlier. The number of hire purchase agreements rose from 79,071 to 84,617, with 19270 190 new agreements for goods valued at £291,519,000 and financed £187,743,000. Motor vehicles dominate the value with total purchases reaching £225,342,000 and finance companies providing £135,892,000.
The Department of the Interior delayed comment on extra Canberra police numbers until Budget Estimates were released. Secretary Bir H. Barrenger said expansion depended largely on available funds and could not be specified before the Estimates were announced.
A 50 ton coaster Managore ran aground about 45 miles west of Port Moresby after reporting a bad leak. The Australasian Petroleum Company ship Papuan Explorer responded to assist and beached the vessel at Kairuku in the Gulf of Papua.
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