AMERICAN ITEMS.

Hokitika Guardian, 2 November 1920, Page 2

AMERICAN ITEMS.

r AUSTRALIAN «.V N.Z. UABI.K ‘BBOCIATION] THE WOOL SLUMP. NEW YORK, Nov. 1. The Federal Reserve banking system has issued a: statement to the effect that representative dealers agree that the prices of standard grades of wool have defined since the first of May by thirty-five to forty per cent. The woollen yarn spinners have received practically no orders, although September'and October are usually the busiest months. The mills are variously reported as operating at from ten to eighty per cent, of their capacity; some being employed running on back orders. The uncertainty regarding yarn prices and lack of orders helps to explain the existing situation.

, AMERICAN SHOE SLUMP. : NEW YORK, Nov. 1. | The shoe leather industry reports show 7 it has curtailed operations, and in some cases complete shut downs. - I AMERICAN SYMPATHY. (Received This Day at 9.45 a.m.) , NEW YORK, November 1. , Ten thousand participated in a demonstration at Washington on the occasion of McSwecney’s funeral. Thirty thousand attended McSweeney’s services at Boston. Twenty thousand paraded at Philadelphia, protesting against the Irishman’s death, and fifty thousand 'gathered in New York to pay a tribute to McSweeney.

CHINA’S POSITION. ; : r (Received This Day at 9.45 a.m.) NEW YORK, November 1, Tlie New York “Times” Pekin correspondent reports after the Canton military 'Government cancelled the declaration of independence, Pekin Cabinet on 30th. October approved of the issuance of a mandate proclaiming the reunion of north and south had been effected and ordering the Ministry of the Interior to co-operate with the provincial authorities in the election of a new Parliament, based on tlie old election laws. Cabinet also approved of the creation of special courts to deal with Russian causes in the three eastern provinces. Th e press approves of the President’s bold step in abandoning peace negotiations and simply announcing that peace exists. The fact that no concessions have been made to the revolting provinces indicates that the Government feels itself in a strong position.