AMERICAN NEWS

Hokitika Guardian, 5 October 1927, Page 3

AMERICAN NEWS

(Australian & N.Z. Cable Association.)

MEXICAN REVOLUTION

(Received this day at 11 V a.m.j MEXICO CITY, Oct. 4. General J. J. S'. Ilvarez, chief of staff for President Colics announced that General Francisco Serrano, the alleged co-leader of the military revolt, was executed with fourteen followers, near Cuenavaca, on Monday morning. Calles has issued a statement admitting the extent of the revolt., but claiming that the Government was forewarned and had the situation well in hand. NEW YORK, Oct. 14. Delayed messages from Mexico City indicate that a censorship is in operation, and communications are disorganised. It is generally believed that the

• revolt ws)s more extensive than as yet /5* officially'Reported, as there arc various despatches conflicting in their accounts. VANCOUVER, Oct. 4. The followers of Serrano, who were executed, were all prominent politically. Lieut.-Colonel Manzanillo (chief of the 16th. Battalion of Torryon Garrison) together with staff-officers were also executed. The situation in that region is quiet, and all troops were disarmed. STOCK MARKET. NEW YORK, Oct. 4. Stock market transactions broke the records for the year, totalling 3,147,600 shares, half a million of which were general motors new stock which was the most active issue in the list. The total was spread over a rising market in the morning. There was a drastiee decline in the afternoon and the whole market broke under selling, but the trading spread out and tickers were able to keep pace with the fifteen minutes market. United States steel sustained the heaviest losses off three points, and at the close general motors old stock off four and a half, new off one and five-eighths. Expert opinion is divided regarding the permanence of the break, the general belief being that th reaction is only a technical correction which probably will be soon eliminated.