AMERICAN CABLE NEWS.

Hokitika Guardian, 8 March 1926, Page 3

AMERICAN CABLE NEWS.

[Australia & N.Z. Cable Association.] THE SLUMP IN TJ.S.A. NEW YORK, March 5. Sluni|) on the Stock Exchange at New York and elsewhere in the United States is now being felt in trade. Circles throughout the whole country having caused a general depression in buying, it is estimated that lour million dollars have changed hands during the last few days, the winners being mostly men already prosperous, while the losers have constituted a considerable section of the buying public. As a result, the departmental stores and other retailers have noted a marked decrease in their sales. The automobile, firms have also suffered. The latter are considering the reducing of prices in order to stimulate business. Mnnv fashionable dressmakers have received cancellations of orders. Even the theatres are feeling the pinch, through a loss of patronage. LORD A Id.EX HY. VICTORIA. 8.C., .March 5. General Allenhv is the guest of Eietit.-Governor Bruce. In an interview he said that he was vastly impressed with the need of populating Australia, lie found the British possessions throbbing with vigour and vitality.

27 .MIKES .SWIM. (Received this day at 8 a.m.) BUENOS Alii US, Marili 0. D’Linco Rbjuclmc. an Argentinian, ■swam 27 miles across the River Platte from Colonia, Uruguay, to a point near Buenos Aires on Saturday in twenty-live and a half hours. PRODUCE CONTROL IN U.S.A. this day at 8 a.m.) WASH IXO TON, March C. Under a bill introduced on Saturday by Senator Urooklmrt two hundred and fifty million dollars will he-appropriat-ed from the United States Treasury to create a joint Federal Farm Export and Import Marketing Association, the management of which will Ire vested in u board of directors (throe persons appointed by the Secretary of Agriculture from nominations of the various tanning organisaions). I he organisation will be empowered to purchase Irom the farmers all their exportable surplus crops at the average cost ol production plus five per cent profit. Tho Department of Agriculture will he required to fix. the average cost ol production oil n basis cost over the live preceding years. “The ultimate aim of the eo-opera-tivo organisation shall he to supply the needs of members to attain control of tho necessary production and. to effect the union of the societies of the world in an international organisation, having some common purpose," the Rill states.

U.S.A. BUTTER PROTECTION. WASHINGTON. March (i. President Coolidgo lias ordered an increased tariff duty on butter from eight to twelve cents per pound.