AMERICAN ITEMS.

Hokitika Guardian, 6 May 1920, Page 3

AMERICAN ITEMS.

(By Electric Telegraph—Cory right.;

SLUMP IN JAPAN. WASHINGTON, May 5. According to advices from 'l’okio, Japanese trade is now feeling the full affects of the financial situation, duo to the bankers’ refusal to make any further advances on cargoes. Commodity prices have declined sharp ly* and money is extremely tight, despite a decline in the banking rates. U.S. DAVIS CUP TEAM. NEW YORK, May 5. The Davis Cup team sails for England on May 29th. Three members have been already chosen, namely, Tilden, Williams anu Johnson. AMERICA’S NAVY. WASHINGTON, May 4. Admiral Henson, giving evidence before the Senate Investigation Committee, said the trend of general sentiment throughout the States was that the Navy was not justified in preparing for' war with Germany sooner than it did.

Personally, however, he believed war between Germany and States was inevitable prior to the world war. A CORPORATION. OTTAWA, May 5. It is announced that nine Canadian steel companies that ship-building and transportation companies have been consolidated into what is called the llrjfish Steel Corporation. It has a capital of half a billion dollars. The consolidation financially associates the owners of the iron and coal deposits of Canadian Atlantic seaboard with the possessors of the steel-making and the financial resources of Britain. The capital stock will bo divided as follows:—7 Fifty million 7 per cent. Cumulative prpferred shares, of which 37 millions wijl bp issuerl. One hundred million eight per cent, cunmiative preferred shares, of which

25 millions will be issued. On hunderd and fifty 7 per cent, non cumulative preferred shares, of which 87 millions will be issued. Two hundred million common shares, of which 77 million will be issued. A CONTEMPLATED ATTACK. (R.pieivpd This Day at 12.25 p.m.) WASHINGTON, May 5. An attack to force the German submarine bases was contemplated by toe Anglo-American Navy forces during closing picntlis pf tl\e war, according to Roar Admiral Bensop, The American fleet was to be kept at Homo to protect the Coasts, in the event of the peymjins breaking the British eordqn.

.SENATE DEBATE, (Received this day at 1fi.25 p.m) WASHINGTON, May 5. At the opening debate on the resolution declaring a State war with Germany ended, Mr Knox assented that Mr Wilson was arbitrarily maintaining that United States was technically at war, in order to coerce the Senate into agreeing to accept the Versailles Treaty. Mr Wilson desires above' all to retain the autocratic powers conferred on him during the war, in order to use them for other purposes.