BRITISH S FOREIGN NEWS

Hokitika Guardian, 5 December 1925, Page 3

BRITISH S FOREIGN NEWS

fAustralia & N.Z. Cable Association. 1 BANK RATE INCREASE CR.ITICJSKD. LONDON, Dec. I. The increase in the hank rate is duo to the heavy withdrawals id gold from London, amounting to nineteen millions sterling since the Ot.li of October; also a- prospect of further withdrawals owing to the rubber Imom. in addition Anglo-American monetary stringency is reflected in the j weakness of the dollar exchange. The industrialists condemn tin* increase, believing it will check the revival of trade. j The “Standard” expresses the opin- j ion that the increase is a precaution- , ary measure, necessitated by the Gov- i eminent's heavy borrowing to pay dividends instead of selling treasury bonds, • whence there is a possibility of intia- ' tion which is anathema to the support- j ers of the gold standard. BOV’S HEROIC WORK. ' NEW YORK, Dec. I. A fire in the Grand Hotel at Council Hullo, lowa, caused one million dollars damage. Milton A lien, a Imy elevator atten- j daiit. heroically kepi to lii-s post and , carried one hundred guests lrmn the top bedrooms while the walls on ad sides of the elevator were a blazing inferno. REDVARD KIPLING’S CONDITION. ! LONDON, Dec. I. j At noon to-day Mr Rudvnrd Kip]jno's strength is being maintained. He is suffering from pneumonia of Ixith lungs. RAID ON LIQUOR. NEW YORK, December 3. I In what the Federal authorities describe as the greatest raid on the supposed rum. importing and distributing forces yet made in the United States, twenty men wore arrested io-(la\, j charged with being implicated in an al- ‘ logod liquor ring. District Attorney Ruekner said the organisation control-j led eighteen ocean steamers engaged in j bringing liquor to “Rum Row ” from j foreign ports. Among those arrested , is William Dwyar, part owner of a race track in Montreal, who is the head of the ring, according to Buckner. j

NEW SPANISH MINISTRY. I MADRID, December 3. King Alfonso has approved the NewCivil Ministry of which General . Do Rivera is Premier. King Alfonso, in n message to Premier Rivera, emphasises that the late Directory lias formed a powerful Political Party, replacing those of the old regime, whose corruption and weakness blocked the work of national reconstruction. The military dictatorship must not continue till worn out. Therefore it must be replaced by a civilan dictatorship with n more adequate, but an equally vigorous organisation. The civilian elements must contribute to the work of reconstruction. It is indispensihle to assume the complete purification of political morals, that the constitutional guarantees shall continue suspended and legislation he conducted by decree.