LATEST CABLE NEWS

Hokitika Guardian, 21 May 1925, Page 3

LATEST CABLE NEWS

AMERICAN ITEMS.

[Keoteiv Telegrams. ) MAR DKHT SITCATIOX. (’Ktiecivod this <liiy at !J a.in.) WASIIINCTOX, May 'ill. With France, Belgium and Exthonia leading the way. nllicials here arc optimistic that six other European debters Mill soon lind their way (lcar to begin negotiations regarding the I undine of their u;ir obligations. I’resident Coolidge shares with Messrs Kellogg and .Mellon the hope that the entire sitnath n will he clarified within a reasonable time, Imt there is no intention to unduly press questions. STERLING ST 11,1, RISING. (Received this dav at 10.‘do a. in.) NKW YOU IC, May 21. Sterling is |S-*»J, the highest sinee .N’ovem,her, I 111 I. KIM ROW RI.OCKADK KKKKC TIVH NKW YORK. May 20. Halifax reports state that thirteen liquor ships have docked and some are discharging their cargoes ami will reenter the freighting business. Others art* sailing with liquor still in their holds. Pry oliieials here interpret this as eeldirmation of the blockade's ellcetivcness. One vessel is now reported in rum row. RIM-ROW WAR. (laims ox noni sides. (Received this day at 12 noon). NEW YtIR.K. May 20. 'l'lie prohihition. authorities claim that the (-anil-nil'll against the liquor runners has been so effective that a revere blow has been dealt the trade. The blockading (oastvainrd forces have reported that the liquor fleets olf the Atlantic (oa.st are widely scattered and are unable to arrange smuggling contracts. Operators of the hoot-lee rin;' ridicule this, however, claiming that goods are being landed nightly despite the blockade. Home support is given to their claims as they have raised | rices, even reducing them in certain instaireH in a spirit of bravado. They claim the Government is unable to stop liquor entering Xew York and other coast cities, hut they admit the effect of tin- campaign is likely to cut olf supplies to the interior. .Meantime, sea captains report many liquor ships have taken refuge at Halifax. merely killing time in tile belief , that the campaign is only temporary ( and will relax.

THE RISK OK STERLING. IX (’ RKA SK D IX TKR X A TlO XA L OOXFIDKXOK. (Received this dav at 1.30 p.m.) XKW YORK, May 21. Sterling is four hundred and eightysix and one eight cents, a new high record since 1011, with heavy dealings which are attributed to buyers, tv ho dining sterling’s steady climb towards par, are now realising profits. The Inlying came from several hig Xew York hanking groups and some Irom abroad and was so steady that it created the impression of a pre-arranged plan.

Dealers in exchange declare that the new stability ol sterling is having a powerful influence on certain phases of international trade. Importers who have hills to meet on London are no longer compelled to make advance arrangements, because they know that the pound is being held to a steady level.

The stable market has also done away with the speculative elements, which marked the Inreign exchange market for the past few years. V.S.A. AKRIAL EXPEDITION. XKW YORK. May 20. Donald MacMillan is hern for the christening of tlie Peary, one ol tlm two ships equipped with three aeroplanes which will leave tor the ninth under his command on the 17th -tunc. He states: “ We believe there is a vast unexplored of possibly a million square miles in area west ol northern Greenland. On his return Macmillan will explore hnhrador for Norse ruins, the existence of which have been reported by Ksqtiiiiiaux. The Railed States Navy is sending eight men of tiie National Geographical Society and live scientists with the expedition. K.S.A. COASTWISE LAWS. WASHINGTON, May 20. The Shipping Hoard lias adopted a resolution requesting American delegates to the international Chamber ol Commerce at Brussels in June to oppose any discussions looking to change the American (oastwise laws so as to admit foreign vessels to tlie l oiled States coastwise trade, The resolution declared that a. continuance of the enforcement laws is “Essential to the existence of tire American moicha-ut marine and tor our national deleme, adding that a discussion was not within the jurisdiction of the Brussel’s conference.