BRITISH & FOREIGN ITEMS

Hokitika Guardian, 12 January 1922, Page 1

BRITISH & FOREIGN ITEMS

AlisVßAi’.lAN AND N.Z. CABLE ASSOCIATION NAVAL TREATY. WASHINGTON, Jan 10. The Naval Treaty contains a provi sion for the contracting Powers not to dispose of vessels on their scrapping list to Otlidr nations which might become the warships of such Powers. In the scrapping rule, however, allowance is made for nations to transform two vessels into aircraft carriers, even if over the agreed 27,000. Ttialy, it' is said, has reserved the right, when the time of replacement comes, to build two vessels, one of 45,000' tolls, and one of 25,000 tons instead, 1 of two of 35,000. It ifc not clear yet whether the treaty will automatically lapse at the end of 15 years, or is subject to denunciation, as in the case of the Anglo-Japanese Alliance. BIG CONCESSIONS. NEW YORK, Jan 11. i According to a Los Angelos message : 'the importance of Mr Frank Vanderbilt’s Soviet concessions was disclosed to-day, when the Standard Oil Company of California purchased one quarter interest in the Vanderlip Syndicate. They propose prospering for oil in Kamskhatka, when the United States recognises the Russian Government. The Vanderlip concession begins for a period of 60 years immediate) after such recognition.