I think you can squeeze a little more space. Because. to save space vertically, you mainly have to shrink the detail band height, using a smaller font size alone won'shrink lines. You can maximise the numnber of lines per page that way. Just also notice you print multiline Narrations that cause line breaks, so the report will automatically grow the band for such records. You have tthe option to disallow that, but whether that's viable or not depends on whether all text within the narration is necessary to appear or not. You can always shorten things and cut them off, have "..." at the end when shortening it. The TYPE column seems to be defined that way, I assume "STATE..." is the result of the report shortening something like "STATEMENT" to "STATE..."
Whatever you do, a report also becomes dysfunctional if important parts are missing. So squeeze out space you can, but you'll not have an option like "shrink report to a single page". There are printer driver options that would optimize images for page size, but you can't do that for the whole report, if at all it would be a per page feature and not squeeze a few lines of page2 into page1, anyway. I also don't see this option in Crystal Reports or any other reporting tool. Even if you have the opposite problem of mostly empty pages you'd like to grow to fit a page. It would look awkward if parts of the pages have double sized letters, for example.
Balance the band height and font size so most reports are 1 page only and live with the outliers. If you adjust everything to extreme outliers the usual report will have lots of blank space and make people scratch their head why the lines are that dense and the font is so unreadably small.