AMERICAN ITEMS.

Hokitika Guardian, 18 June 1923, Page 2

AMERICAN ITEMS.

ACSTS AI.IAN AND N.Z. C.UII.E ASSOCIATION. WALL STREET’ FAILURE. NEW YORK, June 15. Another in the series of Wall St. failures occurred yvith the bankruptcy of the 70-year old firm of Knnuts, Nacliotl and Kulnie, with liabilities, of 11.000.000d01., whereas the other failures cabled on June Bth. affected firms which were members of the “Curb” or Consolidated Exchanges. Knauts’ firm was a member of the Stock Exchange, doing A large foreign, as well as domestic business. Thus its collapse is more far-reaching and important in effect.

STATE STEAMERS. WASHINGTON. June 17. President Harding at a dinner in honour of Mr 1.-askor. who is retiring from tlie Chairmanship of the United Stale- Shipping Board, declared that the Government operation of the American merchant marine yvas the only resort left, and he urged that it could 1„> slicejsfully accomplished, adding: “I have seen so many manifestations of the desire of other nations t-o impede our work.” LABOUR RECOGNISED. (Received this day at 8 a.m.) OTTAWA, June 15 The Canadian Labour Party yvon Its first recognition in the Dominion House of Commons when the Speaker recognised Mr I\oodsworth, the Lab our member, yvhom his confreres acknoyvledged as their leader, h ith tlie accession to this prestige it is planned to place several Labour candidates m tlu* field at the next Dominion election which yvill mark the divorcement of the Labour organisation from' tlio United Farmers, Liberals and Conservatives, as yvell as the collapse of the movement to aid in securing tho disruption of labour NEW RECORDS ESTABLISHED. (Received this day at 8 a.m.) NEW YORK, June 1(5 At Philadelphia, Harold Lever set new world’s records for the sixty-five yards in G 4-5 seconds, and seventyfive yards in 7J seconds. Larry Brown set a record for tho five hundred metres in GSJ secs. THE LIQUOR TREATY. POWER. OF SEARCH. (Received this day at 3 a.m ' WASHINGTON. June 10. Tho draft of the Liquor Treaty (cabled oil 13th) proposing a twelve milt) limit, is ready for submission to ilie Foreign Powers.

It is explained that the draft envisages no extension of territorial waters, tho new limit, existing only temporarily and is applicable to those vessels which may lie hovering within the larger limit with the purpose of violating tho American laws. The Treaty would merely extend the search limit for articles of importation which are prohibited bv the contracting parties. There is nothing to substantiate the objection to that under such a Treaty. France might attempt the search of vessels in the English Channel because the draft makes the agreement strictly reciprocal between the United States and the other pare and hence it is inapplicable between the other party and a third nation.