AMERICAN NEWS

Hokitika Guardian, 26 October 1927, Page 3

AMERICAN NEWS

(Australian & N.Z, Cable Association.)

RADIO CONKERENCE

(Received this day at 11.0 a.in.) WASHINGTON, Oct. 25,

The United States won the consent of the principal nations represented at the Radio Conference for the convention of a committee to frame the rules into two groups l , to only one of which the United States will subscribe. Ihe Committee adopted projiosals which are practically assured of acceptance by the Conference, whereby liotli a convention and an annexe will he drawn up for signature h.v countries with a Government system like Britain. The general regulations to which the United Stales will adhere, include rules to prevent interference of rules on allocation of frequencies and rules designed lo promote efficiency and uniformity in afnittbile service both as regards vessels and aircraft. Britain was the first to accept the United States proposals “in principle,” after which other nations quickly fell into line.

BANK ER ’ S ST ATE.M ENT. NEW YORK, Oct. 25. A message from Houston (Texas) states Air Traylor (President) told the annual convention of American Bankers’ Assn, that foreign investments hv Americans would eventually undermine the United States policy of isolation and force the' Government into active interest in foreign affairs.

Traylor said: “Unless human nature changes or effects a rapid transition, f have an idea there are hundreds of thousands of American citizens who are instances of self preservation and whose sense of property rights, may somewhat incline them to take heed of what is happening in the rest of tho world. The day may come when no mere small fraction of our people will he interested in what is happening in other lands, and will become insistent upon the Government, likewise taking cognisance of such facts. During the last three years nearly every member of the League of Nations has borrowed money from United States, Germany alone taking over a billion dollars. Tf we are, as T believe, the world’s hankers, and the custodians of the world’s available credit to-day, we must make foreign loans, both for preservation of our own economic position, and in justice and fairness to the rest of the world.”

Traylor discussing the history of banking said: “There is apparently little major legislation necessary to perfect onr banking equipment. Nothing would he more unfortunate than to change the fundamental structure of the Federal Reserve Act.” Traylor further declared that the financial welfare of United States Would influence the future of the country. Therefore only experts should tamper with the hanking system.

B RITISHER RELEASE I). WASHINGTON, Oct. 0.5. W. E. Mitchell, a mine manager and a British subject has been released by Mexican bandits.

SELF-PROVED INSANITY. DETROIT, Oct. 1-1. Russell Scott, a former Canadian millionaire contractor, who killed a. Detroit druggist five years ago during a robbery, committed suicide in his prison cell and vindicated the theory of insanity that his lawyers had failed to prove in Court. First confessing to tho crime and then pleading not guilty, Scott was convicted, but was reprieved three times, escaping execution by minutes. A year ago counsel pressed the insanity plea, but the police scoffed at this method of cheating the gallows. Scott vindicated his theory, however, by hanging himself with his suspenders, and the coroner’s jury chnritnCfy gave a verdict that he killed himself while insane.