AMERICAN CABLE NEWS.

Hokitika Guardian, 26 April 1926, Page 2

AMERICAN CABLE NEWS.

[Australian & N.Z. Cable Association.] FBENCH DEBT. AVASIIINGTON, April 23:A proposition covering a suggested settlement of the French war debt is now being examined by experts. STOCK RALLIES. NEAV YORK, April 23. AA'ith the submission of a new offer for funding the French debt, a contributing factor was spectacular rallies in both stock and bond markets which took place to-day. Scores of stocks were carried up one to twelve points on sales exceeding 250 thousand shares. Bond trading reached record breaking proportions with prices shooting up to the highest levels known lor several years. HOME SHIPPING MERGER. NEAV YORK, April 23. The famous AA’hite Star Fleet of .trans-Atlantic passenger liners, including the Majestic, the world’s largest ship, will probably pass to the contiot of British interests, who have submitted tan offer for the line to the International Alereantile Corporation. The transaction will invove aproximntely thirty-five million dollars, and will eventually place the White Star Line, under tho operation of the Canard Line, although the Furness AA’ithy interests lire also reported to he bidders.

Final approval of the deal is expected to be announced next week in London.

THE EVIDENCE CLOSED. tßeceived tbis day at 8 a.m.i AVASHIXGTON, April 24. Both sides completed their evidence on Saturday in a spectacular prohibition battle which has marred other activities of the Legislative branch of government for three weeks. Arguments closed with a wide gulf separating the opponents. The proponents of prohibition modification subcommittee of the Senate and Prohibition Committee now takes tlie records in hand to do with as they wish. THE RIVAL CLAIMS. NEAV YORK, April 24. The “AA’cts” and the “Drys” have both closed their cases before the Senate Committee. Senator AVheeler. the Anti-Saloon League chief, declared that the investigation had disclosed Unit prohibition had wrought a financial, economic and moral betterment to the country. He said what was needed now was legislation to tighten, instead of weaken, the Volstead Act. Air Julian Cadnian, tlie “AA'cts ” attorney, ended with a plea for tho modification of the Act. He said that the time had come when Congress must consider the best way to get tiho terrible mess into which this _ illconsidered legislation had plunged them. They must attempt to correct the evils which madmen—the Prohibitionists—had brought upon thorn. General Lincoln Andrews testified and amplified his previous statements. He said that he did not advocate any change towards the legalising ot light beer.

The Committee agreed that each side should have ten days in which to filo written briefs.

NEAV YORK, April 23

Major Dover, of Chicago, again testified before the Senate Committee on the Prohibition law. and criticised some of the Judges who do not believe in prohibition. He said that in sections of the country wlhich do not believe in the dry law, oven the judges refuse to enforce it. “That is the case,” he said. “ in certain sections of Chicago. There are wards in which no man can he elected if he favours tho Volstead Act.”

Major Dover complained that prohibition was too absorbing a topic, and said: “Our attention is engrossed from morning until night. It is almost impossible to give good government when wo are immersed in this question. It takes up too much of our time.” General Lincoln Andrews, tlie Prohibition Chief, again testified. He stated that a satisfactory application of the dry law cannot he fully effective until Congress adopts certain legislation which he has proposed. General Andrews claimed that the const guard made liquor running unprofitable, and he hoped to make its illicit manufacture the same.