AMERICAN CABLE NEWS

Hokitika Guardian, 30 July 1927, Page 3

AMERICAN CABLE NEWS

fAustralian & N.Z. Cable Association.)

FORTY DROWNED. CHICAGO, July 28.

Nearly forty out of four score passengers, mostly women and children who endeavoured to escape the heat fly n short, cruise on Lake Michigan in the small excursion boat “Favourite.’' were drowned oil’ Chicago, when the vessel capsized in a sudden squall to-day. AA’hen a storm struck the boat, it listed, atul the terrified excursionists rushed to the other side. Almost immediately that- side plunged under the breakers, and the craft became submerged, only the upper deck remaining partly above the surface. Some, of the bodies have been recovered. AVhen the storm passed, dredges raised the boat several hours later, when it is believed, other bodies were found as the boat was pumped out.

U.S.A. FINANCE. NKAV YORK, July 28. Reports are current that the- Commonwealth (State) Bank is preparing to open an agency at New A ork. owing to the contraction of the loan facilities for Australia in London. Some of the bankers here feel that Australia can except the United States to enter the local market to extend Australia one hundred million dollars in loans within the next year or two. AVORLD’S POULTRY CONGRESS. OTTAAVA, July 28. Air Fred K. Elford. ot Ottawa, was elected President of the next Poultry Congress, which is to he held in London" in 1930. Mr Elford succeeds Brown in office on the first <i. f January next year.