AMERICAN CABLE NEWS.

Hokitika Guardian, 1 April 1926, Page 3

AMERICAN CABLE NEWS.

[Australian A; N.Z. Cable Association.] WALL STREET SLUM P. NEW YORK, March 30. The trading to-day on tho Stock Exchange exceeded three million shares for the third time this year. To-day stocks were thrown overhoard in an enormous volume, and in a reckless disregard for their quoted values. Tho prices for active issues crashed to the extent of fifteen points and new low records for the year were sent. An augumenter flood of selling orders descended to-day upon tho Stock Exchange sending tho averages to now low marks for the year in both industrials and railroads. The day’s sales totalled 3,359.21X1 shares. The prices were wilting even as big as banking houses vainly ntA tempted to stem the market's downward course. Itailroad shares were fjyst assailed, sharp bosses being .sustained in the New York Central and . Mjthor great systems. _A W The traders holding large blocks of *Jr industrial shares, fearing that they * should bo the bears' next target, scrambled to sell, with the result that stocks such as the United States Steel and Hudson Motors reached the lowest quotations they have torn lied for years. Meanwhile President Coolidge. Mr Hoover and till' Acting ' Secretary to tho Treasury, Mr Winston, have reiterated their belief in the country's soundness and prosperity, stating that they can see no connection lietween the business conditions and the fluctuations of stocks. TRAINS COLLIDE. NEW YORK, March 31. Fifteen men are reported to have been killed twelve miles from Birmingliam, Alabama, where a workers’ train collided with a freight train. FIVE MEN KILLED. Five labourers were killed and three wounded to-day, when a stone cliff collapsed into an adjoining excavation, where a foundation was l>ciiig prepared for the proposed sixty-five storey Christian Missions building.

CANADIAN TRADE. (Received this day at 9.0 a.mA OTTAWA, March 31. “If it never works out any worse than it has this year, I hope it will go on for over,” said the Minister of Agriculture, Mr. Motherwell, referring to the Australian trade treaty in tin* Commons. He said that ho thought it would ho well to give the treaty a year’s trial and maintained that ever since Australia, and New Zealand butter bad come into Canada, the price had gone up for the Canadian product which was commanding a higher price than prevailed in the world markets. ARCTIC FLIGHT. (Received this day at 11.0 a.ni.) NEW YORK, March 31. A message from Fairbanks, Alaska, states in the areroplane “Alaskan,*’ Captain George Wilkins and Lieut, Carl Neilsen hopped olf to-day for Point Barrow, tHe northern tip of Alaska, five hundred miles distant, over a range of mountains where a baso has l>ecn established lor the Arctic exploration expedition. SHIP IN DISTRESS. NEW YORK, March 31. An S.O.S. was picked up to-day from the British freighter Latham, about sjx hundred miles south east of Halifax. She said she was nearly on her beam end and nil the litebnnts were >/lurried away. Water was steadily 1 JKnining in the hold. The Mauretania, MBO miles away, is rushing to the assistance of the distressed vessel which left Newport News on March. 25 for Ipswich.