AMERICAN ITEMS.

Hokitika Guardian, 26 January 1925, Page 2

AMERICAN ITEMS.

tUBTRj. X.IAN and n.z. cable association. SHIPPING TONNAGE. NEW YORK. dan. 23. While American ship-building amounted to 50 per cent of tile world’s output six years ago, it- readied only six per cent, last year, according to figures announced to-day. United States ranked third in the world’s output with 139.000 tons, 33 less than in 1923. Britain’s production last year had a long lead of 1.1-10.000 tons, tc-n times United States’ total: This was double Britain's output for the previous year. Other countries combined in 1924 produced 070.000 tons, making a world total of 2.500.000 tons compared with 1,040.000 tons the previous year, CO IT D’ETAT IN CHILI. NEW YORK. January 23.

At Santiago, in Chili, by a sudden coup, a contingent of ycung army officers occupied the headquarters of the Government- and surrounded the Moneda Palace with armed force. The officers declare that they intend to depose the Junta Government, with a view of bringing about neutrality in pclith.s. The main cause of tlie movement is described as a growing belief that the Government is supporting the National Union Party. The Junta Government lias resigned, and a new Junta lias been formed. PETROL DEARER. NEW YORK, January 23. Following the sensational decline in petrol prices during mid-year of 1924. tnc commodity has made proportionately high advances lit the new year, reaching high levels nearly everywhere throughout the nation. The Standard Oil Company has announced a cent and half increase per gallon in price to-day, repiesenting a total ol 31 cents since Ist of January. Ot'.ier companies have followed this example, lifting the price throughout the East, South aiid Central West, and bri igmg the wholesale price to approximately 22.; cents, and the retail price to notween 25 and 2S cents, depending on the locality. The crude oil market has responded proportionately, its increases ranging from 25 to 50 cents per barrel, the prices now being from 105 to 325 ..“i ts per barrel, depending on the grade m d quality. The shares in the oil companies on the Stock Exchange have relleevJ the increase, large gains being rep-iiteo on nearly all the issues of the Standard Oil Company as well as the independent companies. It is expected that the increase in petrol prices will shortly be reflectm in the export quotations, bringing probably corresponding increases m Australasia, r.uropc, and tin* Far Fast. The depletion of the stocks ol n nnv of the independent companies, as cabled on July ISth last, and the enforc'd diminution of the output i l old i !•> offset last year’s disorganisation hi oil production, is believed to be icsponsihle for the price inci-a.nos. GOLD FOR AUSTRALIA. NEW YORK, January 24. It is announced that the Equitable Eastern Ranking Corporation is shipping 550,000 dollars in gold, and that thtTScahord National Bank is shipping 500,000 dollars in gold to Australia. Neither concern would disclose the consignees. The assistant cashier. Mr \ oil Hormart, of the Seabord Rank, remarked that it probably was being sent to a Sydney Rank. There is no special trade interest in the shipment, except that the Seahord Rank calculates that the consignment will he a profitable business deal.

The Equitable Rank stated that their shipment was purely an exchange transaction, pointing out that the Australian pound is now at a premium over the English pound. In the rectification of her balances. Australia is now nimble to obtain gold in England, and thus is completing her transactions through New York, where gold is plentiful. A shipment of gold to Australia was also made last week". A peculiar exchange situation is making such consignments profitable for the first time in recent history. EARL PAGE’S TRIP. , [Reuters Telegrams.] (Received this day at P. a.i11.) NEW YORK, January 24. -Mr Elder, the Australian Commissioner announces that Dr Earl Page (Federal Finance Minister) will not float a loan while in America, as lately rumoured. His mission is to recuperate his health, hut he may inspect the hydro-electric and agricultural developments likely to interest his Government.