BRITISH & FOREIGN ITEMS.

Hokitika Guardian, 14 December 1921, Page 3

BRITISH & FOREIGN ITEMS.

IUSTUALIAN ANH N.Z. CABLE ASSOLI...IION

FRANCE AND REPARATIONS. (Received This Day at 9.40 a.m.) PARIS, Dec. 13 'the ‘-Matin” says it is certain Fiance will not discuss reparations at file International Economic Conference before the question has been settled between the Allies. M. Briand could not go to Washington hut M. Loucheur might. A TRADE AGREEMENT. BERLIN, Dec. 13. French mid Russian representatives at lteval are negotiating trade agree-. ment. I GERMAN FINANCE COLLAPSE. ■ (Received This Day at 8.30 a.m.) BERLIN December 13. The bottom has dropped out qf ifclijßi stock market boom. Frenzied buyers of last week are now trying to unload with equal fervour. Prices have tumbled and there are ugly rumouis of impending failures. The failure of the Allegemeine Bankverein at Dusseldorf lias caused public confidence to be badly shaken, especially in view of the recent failure of the Palatinate hank Other interests in southern and western Germany are known to be in diffi- j culties

SHIPPING SLUMP. “ THE TIMES ” SERVICE, (Received This Day at 10.15 a.m.) LONDON. Dec. 13. A striking example of thn slump in tho shipping book is furnished by the action of the Stella Shipping Coy. ol Cardiff', which proposed to liquidate voluntarily, because the entire capital had disappeared. The company owned four steamers valued at £4oo,(Hill sterling. These are mortgaged for half that amount in order to buy a new steamer. The contract price was £170,000 of which £102,000 was paid down by the time tho ship was completed. Higher wages and cost of materials made the pric t > of the vessel £21,0000 whereas the market value is only £7(I.(XX), and the value of the whole licet is less than the mortgage. The bank has foreclosed. CAPE MINES CONFER. CAPETOWN, Dec 11. The Miners Union agreed to the Chamber of Mines proposed conference to discuss the prevention of closing the low grade mines. 3ho Chamber is submitting drastic proposals including the abolition of certain Trade Union restrictions regarding employment of natives. The workers submit counter proposals involving reductions of the number ol highly paid officials and a co-partner-ship scheme.