AMERICAN ITEMS.

Hokitika Guardian, 30 December 1920, Page 3

AMERICAN ITEMS.

AMERICAN SLUMP. AUSTRALIAN AND N.Z. CABLE ASSOCIATION. iieuter’s telegrams. (Received This Day a* 12.2 t) p.m.A NEW YORK, December 29. A significant sign of the times is that the main Ford motor plant at Detroit, employings fifty thousand, has closed , for an indefinite period. I Many higher priced motor plants in the larger American cities have already closed or are running half time. Conditions of unemployment in some centres are very severe. Labour leaders claim the conditions are partly fictitious, the purpose being the reducing of wages. In an effort to obtain cash, 'big stores throughout United States and Canada are cutting prices twenty to fifty per cent, while Wall Street has seen a vast slump in prices. Conditions generally appear to be righting themselves and the autumn pessimism is giving way to a feeling of optimism, when the winter is over. AMERICAN NAVAL AFFAIRS. (Recened this Uav at 12.25 o.m) ! NEW YORK, December 29. I A message from Marion, Ohio, states Congress man Kelly, member of the House Naval Affairs Committee, after consulting Mr Harding regarding naval matters, said the Republican leaders plan to scrap Mr Daniels proposals for naval expansion, and will not authorise any now ships. They ■ will reduce the 11921 appropriations to fifty million dollars below the 1920 figures and also reduce the naval personnel to one hundred thousand.