AMERICAN NEWS

Hokitika Guardian, 19 September 1927, Page 2

AMERICAN NEWS

(Australian & N.Z. Cable Association.) STEP LING EX CHANGE. NEW YORK, Sept. 10. Sterling exchange reached 480), a. new high level for the year, due to the banks demands, coupled with a. shortage of spot sterling. TRADE AVAR EXPECTED. XY’A SUING TON, Sept. 17. It is understood that the l nited States will next week reply to the French proposal c.f tariff reciprocity as follows: (1) That America cannot discuss the (|uostions under the existing tariff law. and that Congressional sanction has been given only to the ‘‘Afost l*avoured Nations” Treai.v. Some quarters indicate that a trade war between the two countries is inevitable, and it is probable that President Coolidge will cither issue an embargo against French goods, as a reprisal, or will raise the tariff rates 50 per cent, above the existing figures. These powers were granted, that, in accordance with the present trade volume. both countries would suffer equally in any such conflict.

AEROPLANE CRASH. (Received this dnv at 8 a.m.) NEW YORK. Sept. 19. A message from Plainfield, New Jersey, states that six persons were killed and five seriously inured when a Fokker commercial aeroplane crashed to-day.

AUSTR ALI AN AVIATOR’S INTENTIONS. HONOLULU. Sop. 19. Anderson, who returned from Kauai, said Australian fliers would probably use the Barking Sands field near Maim on Kauai Island. Ho has airranved for improvements to the field, which at present is not entirely suitable for a take off.