AMERICAN NEWS

Hokitika Guardian, 5 February 1920, Page 2

AMERICAN NEWS

fAUSTRALIAN & N.Z. CABLE ASSOCIATION] SHIPPING PURCHASE. NEW YORK, Feb. 3. It is understood that a party of American bankers have bought tin Lord Cowdray’s holdings in the American Hawaiian Steamship Corporation, thus making the ownership of , the concern exclusively American. ADMIRAL SIMS INDISCRETION. WASHINGTON, Feb. 4. Mr Josephus Daniels, Naval Secretary, has hotly repudiated Admiral Sims’ strictures on the American Navy. He says Sims is self-contradic-tory in his assertions. Sims made an allegation that the United States Navy was merely., acting as motor lorries to the Anglo French fleet, and was not participating in actual fighting. Secretary Daniels absolutely denies this. He points out that Sims’ own records sliow_ that attacks were made by the States Navy upon both submarines and™ other enemy naval craft.

FURTHER DROP IN EXCHANGE. NEW YORK, Feb. 3. Tile exchange market is virtually demoralised to-day. It witnessed a sprious drop in values. The £1 sterling touched as low as 3.331 cents and the franc and the lire dropped to similar levels. " The stock market felt the effect of the fall and this took the forin of a break in prices. . Sterling later slightly recovered to the extent of two points. The exchange market generally has since sqinpwliat recovered its firpiiiess,

ENGLAND AND SENATE. NEW YORK, Feb. 4. The New York “Times” correspondent states that a Republican Senator Borah declares that Mr Lloyd George had first tried to reach President “Wilson through Viscount Grey with the cabled statement that Senator. Lodge’s reservations would bo “satisfactory to Britain” but he failed. Therefore the next decided to appeal directly to'the Senate, through Viscount Grey’s letter in the “London Times,” which advocated swallowing the reservations. Earl Grey says that America’s attitude is conservative re outside entanglements and a desire to limit- the President’s power to commit the country without consulting Congress. The British Dominions’ rights cannot be limited by Britain, who, however, had a special status in the Empire American feelings could be understood when finding they had one vote to the six British votes in the League of Nations. The Dominion votes were chiefly a sentimental consideration, and be anticipated no dispute was likely in practice to arise.

GEJIMAN BANK AT BELGRADE. WASHINGTON, Feb. 2. Word reached here that the German Government was surreptiously attempting to create an industrial • bank iit Belgrade with a. capital pf 250,000,000 dollars, for exploitation of Jugo-Slav forests and mineral deposits, in order to obtain raw ipaterial for German 'industries. It- is reported that the German Government Is offering the Jugo-Slav Government 50 per cent, of the nett profits of the bank and volunteering aid to Jugo-Slavia reconstruction and development of industries by water ponoi.

ME WII.SO.VS PROGRESS. (Received this day at 8 a.m.) WASHINGTON, Fyl>. 4. Dr Grayson stated President WiL uOii had a bad cold and narrowly escaped influenza. Every precaution is being taken to protect him against attack. Nofifody with even a suspicion of a cold is allowed to enter his room. Mr Wilson is able to walk about with the aid of a cane. A GOLD SETTLEMENT. NEW YORK February 4. It is announced that a group of American banks shipped 17,110,000 dollars in gold to Argentine to settle the trade balance.