AMERICAN ITEMS.

Hokitika Guardian, 29 April 1925, Page 2

AMERICAN ITEMS.

AUSTRALIAN AND N.Z. CARLE ASSOCIATION

BIG LOAN FOR BRITAIN. WASHINGTON. April 22

A realignments by which the New York Federal Reserve Bank will buy sterling hills in the open market at the request of the Bank of England, is looked upm by the Secretary to tha Treasury. Mr Mellon, as a desirable means of stabilising exchange and as beneficial to the trade and commerce of both countries. While it is generally accepted that Britain will seek credit among the hankers here to offset the hills taken be the New York Bank. Mr Mellon said he knew nothing of the plans for a loan, although he regarded snob a move from British quarters as obvious. The British plan, as reported, ronton,,, hues a hum of between a half and three-quarter of a. billion dollars, which could he used to stay any emerrrouev. since it is not believed here that’ sterling exchange would sutler more than temporary (lurries, after it attains par.

K\T\B ELECTION EIGHTS. NEW YORK, April 27. Thirtv-two persons were killed in holds and disturbances resulting from the citv elections held in the State of Sonora’, in Mexico, on Sunday.