AMERICAN UM NEWS.

Hokitika Guardian, 25 November 1925, Page 3

AMERICAN UM NEWS.

[Reuter Telegrams.] WINK PERMITS WITHDRAWN. WASHINGTON. Nov. 24. All prohibition permits allowing householders to manufacture annually two hundred gallons of wine have been ordered to be withdrawn to-day. FINANCING AUSTRALIA. U.S.A. RANK ENTER* KiKl.rr (Received this day at 10.25 a.m.) NEW YORK. Nov. 24. The National City Rank of New York has decided to have a permanent representative in Australia with a view to furthering the financial connections between the two countries. Mr .1. F. Lauderdale, who has been lately representing the National Bank in London and who has formerly had experience in Scandinavia and other European countries, has been appointed to the new position in Australia. It is understood the National Bank is not only interested in the dotation of loans for Governmental organisations in Australia. hut will, it is believed, he ready to advance funds to municipalities and public utilities for far-reaching improvements. The National Citv Rank does a large business in the direct placement of its bonds among small investors in the United States, and it is believed it would underwrite enterprises at rates competitive with London. American financial houses are desirous of finding further outlets for American capital in worth while foreign investments, especially since the American Government specially approves of sueli. The National Ranks’ entrance into the Australian field is considered as a strong mark of the confidence of American business circles in continued Australian development along sound lines.