AMERICAN ITEMS

Hokitika Guardian, 19 October 1923, Page 2

AMERICAN ITEMS

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. OIL WAR IN U.S.A. NEAY YORK, October 18. Six oil companies, ineludirjg the Standard Oil Company, have announced a two cent, per gallon decrease in the price of petrol, to be effective in 27 of the Stales. This means bringing the retail price to between lot and 18 cents per gallon throughout the nation. The reduction is regarded as a lur tlier development in the juice warfare noted on August Lltli.. although the companies declare it is due to overproduction. U.S.A. COTTON SLUMP. NEW YORK. Oct. 18. At Columbia, in South Carolina, the American Cotton Association’s convention adopted a resolution favouring 3(> cents a pound as a reasonable price for the voar’s crop. The president, Mr A. s. Wannamaker. sounded the keynote in urging the growers to reduce the cotton acreage, in view of the boll weevil and adverse eonditions. Mr A\ annamaker said the farmers in the South wen* learning the lesson that large crops with an imwieldly surplus mean low prices below tlie • *ost ol production, whereas limited production assured greater profits.