AMERICAN ITEMS.

Hokitika Guardian, 5 November 1923, Page 2

AMERICAN ITEMS.

LATEST CABLE NEWS

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. STOCKS AND SHARES. BOOM IN NEW YORK. NEW YORK, Nov. 1. Remarkable scenes occurred on the New York Stock Exchange when a wave of optimism, based on the statements of various important industrial leaders, that the business conditions of tile country were excellent, shot all stocks up for gains between two and five points. All depressive influences 4 were completely dispelled, and fourteen hundred thousand shares turned over, the largest number since, the beginning of the year. The shibboleth everywhere adopted is that the United States is entering the winter months with her industries in good condition, ami the financial structure sound. The United States Steel Corporation declared a small quarterly dividend when everyone expected that the cut in the hours of labour would make a dividend impossible. The Corporation, on tho contrary, announced increased profits, and estimates show that United States crops would bo a billion dollars more in value than la-t year. The Stock Exchange’.- action i- considered likely to presage a boom movement, such as struck the United States immediately after the war. Conservative hankers are insisting that business must he careful against inflation and artificial prosperity, with deflation and ruin succeeding. SPEED RECORD. NEW YORK. Not. 3. Lieut. H. J. Browning, the aviator, attained the highest rate of speed ever achieved mv man. going at the rate of 265 miles an hour, in a Curtis racing plane over a course .-f three kilomet res. AMERICAN COTTON' CROP. NEW YORK. Nov. 3. There is a decrease of 7(17,000 hales in the prospective -• uton crop,’as compared with the estimate of a month ago. This is shown in the U.S.A. Agricultural Department's forecast, just issued in Washington. The crop is nowput down as 10,2-IS,0(K) hales. As a result, cotton prices in New York have jumped over one hundred paints, the options going to two cents per pound, which is the maximum permitted in a single day's t railing. lu New Orleans, the prices leaped 200 points to 32 cents per pound for December delivery, and trading . was immediately suspended, under the ruling designed to prevent speeulativo flurries, likely to disrupt tho market. The short crop lias been driving; the prices of raw cotton upwards for the past few months. This is despite the most dscouragiiig news from Lancashire and New Zealand regarding the state of the cotton goods markets. Yet the American spinning centres like the English are hard pressed. A conference ol cotton spinners was held at Boston yesterday, when it was declared that the industry is facing one of the worst periods in its history, due to the decreased domestic and foreign consumption. Ll.OYI) GEORGE’S RETURN". N'EW YORK, November 2. Tn his last speech in America, prior to his sailing in. the ‘"Majestic” tomorrow for England. Air Lloyd George declared that lie had come on no mission. He said lie had stood for the ruthless prosecution of war and now lie advocated the ruthless prosecution of peace. He reiterated his support- of Mr Hughes's proposal for ascertaining _ Germany’s capacity to pay. Mr Lloyd George concluded:—-‘Follow through, and keep your eye on the hall.” Tlie vast auditorium of the Metropolitan Theatre was crowded- and hundreds were turned away, while many people heard the address through the medium of the radio. Eight persons were arrested near tho Metropolitan Theatre, where Air Llovd George was speaking. Irish Republicans attempted to hold a meeting in the street. The police fought a hand-to-hand buttle with a large group, many of whom carried signs bearing Air De Valera’s picture. Others had sign boa ids inscribed with phrases uncomplimentary to Air Lloyd George. Mounted police finally charged the crowd, driving hundreds hack, and capturing and arresting one group, several of whom, were women. Later at night, the police frustrated the efforts cf Republican sympathisers to disturb Air Lloyd Geo:go after lie had retired for the night.

The police threw a cordon round his hotel, and dispersed a Band which was attempting to inarch through the street as well as one which was attempting to make a demonstration near Air Lloyd George’s hotel. , iß'a-oivad this day at 8 a.in.) NEW YORK. November 3. Right up to the minute to sailing, ?,L * f.'oyd < oVu ge was besieged by official delegations, wishing him Godspeed. Acknowledging a laudatory resolution presented him by newspapermen lie said the. sentiments expressed would he a great help to him "in the struggles to come. Wo are just at the log-inning of big things and L am not through with them.” As to the effectiveness of any co-operation between Britain and United States lie said—“lt depends upon whether you follow* through.” If there is any doubt on the part of Franco that England and America intend to go through, then it w ill not go through. If the reparations progress is agreed upon by Britain, United States and France, the diflicul ties of Europe could bo cleared up. FEAR FOB SAFETY. (Received this day at 8 a.m.) WASHINGTON. November Fears for the safety of Air Lloy7. George at the hands of a Ilindu disciple of Gandhi, prompted Federal officials to liar all visitors from the steamer Alajestie. until the former B.remier was in bis cabin. The Gandhists name was not disclosed. He was removed from the vessel because of alleged irregularities in his passport, after he engage, his passage to England. He was known to have followed Mr Lloyd George at the outset of the tour in America and to have been detained by the Canadian authorities. /* BRITISH LMAIIGRANTS.. AVASHINGTON. November 3. British subjects to the number of 13-58. arriving in New York on tlio T.eviatliau may have to l;e deponed as the immigrants are inadmissahle under the quota of the immigration law, the British quota is exhausted. < A.M ERICA’S attitude. this day at 8 a.m.) WASHINGTON. November 3. Whether United States will have a part in the new reparations inquiry is much in doubt, as even the modifications to Air Hughes’ plan brought forward by France, made it appear to some official,, tlmt the final draft of the plan may render American participation futile. No final decision will be reached until the exact leims of the French proposals are known. Nothing, is yet known officially. The United States Ambassador had a conversation with Al. Poincare in Paris to-day. It is understood the view uf Government is that anything short of a full impartial examination of Germany’s economic situation would fail to be of any useful purpose.