AMERICAN ITEMS.

Hokitika Guardian, 22 March 1924, Page 3

AMERICAN ITEMS.

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. HUGE -MERGERNEW YORK, -March 21 Representing a capital of .'515 million dollars, and producing two million li.p. in the heart of the coal and steel industrial regions, eleven companies serving the States of Ohio, Pennsylvania, Virginia, West Virginia and Maryland have formed a co-operative coal field Super power group. It is predicted that this will link, within a year, in a group system the Niagara Ealls and New England, Southern, and Chicago systems. This will be a long stride towards an electric system to embrace the nation, as advocated by Secretary Hoover, who proposes to retain the independence of the members, and plans to furnish more power at cheaper rates. The territory linked by to-day’s compact has seven and a-quarter million individual consumers. LOAN FOB GERMANY. NEW YORK, March 2(1. The New York 'i ribnne states that Wall Street, in conjunction with British and Continental financial inaelitish and Continental financial interests will begin arranging machinery for the distribution of an international loan for Germany early this summer, along the lines that are understood to be suggested by Colonel Dawes’s reparation report. J. P. -Morgan and Company are known to be ready at short notice to undertake such commitments, calculated to restore Europe to a normal basis. Bankers indicate the loan’s success on the American market would be enhanced considerably by guarantees similar to those .attached to the Australian Loan, although these may he omitted if the bonds are secured by a mortgage on German railroads and industrial establishments administered under Allied control. The aggregate amount of the loan is not expected to exceed two hundred and fifty or fierce hundred million dollars, whereof not more thn n one hundred millions are likely to l>e arranged in the United States. Observers are convinced that both German and French approval is assured for such a loan. THE WORLD FLIGHT. AMERICANS MEET DISASTER. WASHINGTON, March 21. Df the three aeroplanes in the world flight one has arrived at Portland and the second has been totally wrecked, but the aviators are unhurt.