AMERICAN NEWS

Hokitika Guardian, 17 May 1928, Page 3

AMERICAN NEWS

Australian Press Assn. —United Service

BRITAIN AND U.S.A. WASHINGTON, -May 15

11. Kellogg (U.S.A. Secretary of State) lias rejected a proposal of Sir Esmc Howard (British Ambassador), that, in view of the prospective inability of the Baldwin Govern men t to complete its consultations with the Dominions on the negotiation* with a view to arbitration with the United States before the expiration of tho present treaty with Britain, the treaty bo extended temporarily through an exchange of notes. Sir Esmc Howard: was informed that ns extension, would only bo made through a new treaty, which would require the Senate’s approval, and since any delay in negotiating the latter was not expected to he for long, it was decided that the present Pact should be permitted to lapse. This course, it was felt, would make no practical difference between the two Governments.

t’RESID ENCV KITES. 'Deceived this dnv at 5)..10 a.m.A NEW YOKE. May 10. The financial editor of the “Morning World” comments: —“Deep down in Its I mots, Wall Street believes tliero is only one man who has a ‘Cliinahian’s chance’ of defeating Governor Smith, and they are very doubtful about that too. and what is the true story about Mr Mellon’s talk and the re-appearance of Mr Coolidge’s silhouette oil the political screen. 'I he truth is, as Wall Street knows, that Mrs CooTidgc does not want him tit run. She has had all she wants of White House. She is very anxious to return to her simple home life in Massachusetts and the President feels that way too, yet the Street has a lingering hope that lie may yield to the belief that it is his duty to the party to accept nomination, if it is thrust upon him, .irrespective of his own views and those." of the first lady in the land. There may not he tiie slightest reason .for Wall Street to indulge in this hope, hut it must not be forgotten that imagination .is one of the vivid forces that furnished impulse-to this market.”

AMERICAN UNEMPLOYMENT IMPROVING. WASHINGTON, May IG. The. Federal Reserve Board .reported thfo unemployment situation is improving. The Board: disd!o(;ed Hint employment early this year dropped approximately to the 1924 low level. Three substantial reductions occurred in 1927 in factory employment, curtailment in building and agriculture operations arid reductions in employment in coal mines, causing what the Board termed “a depressing effect on the general labour market.” 'I ho most pronounced decreases in employment since March 1927, have been shipbuilding, petroleum refining and some industries making iron and steel products, and building materials, hut considerably more are employed now in other lines than a year ago.

BANK DISCOUNT RATE. WASHINGTON, May 10. A message from Philadelphia states the Federal Reserve Bank of Philadelphia hns raised the rediscount rate from four to four and n-hnll per cent, on all maturities.

CANADA’S TRADE. OTTAWA, May IG.

Canadian exports for April were approximately 59 millions against 77) for April 1927. Imports were 78) millions against 74.), customs excise duties 19) millions against 20) m ill ions.

BRITAIN AND U.S. TREATY. (Received this dav at 8.30 n.m.) WASHINGTON. Afav IG.

A suggestion of n temporary extension of the Root-Bryee Arbitration Treaty with the British Government for a period of six months beyond June 4tli. the expiry date, has been ifiound impossible by United States. Air Kellogg announced on Wednesday that the Treaty mast be ratified by the Senate for the full period' of five years, or lapse. Great Britain asked delay, pending conferences with the self-governing Dominions concerning the details of the draft treaty’s provisions. PROPOSER TREATY. Australian Press Assn.—United Service (Received tbis day at 10.15 a.mA WASHINGTON. May ,10. Asked if thesDominions would make separate treaties, Air Kellogg said it was a matter for the Dominions to decide in consultation with Great Britain. In a. general way opinion is expressed here that it would not &> inconsistent with the Canadian policy of recent years, if Ottawa were elected to deal directly with Washington, when i.t came to a declaration of policy on arbitration in disputes and outlawing of war. ACROSS U.S.A.

ATI! AND TRAIN SERVICE. (United Service.) NEW YORK, May 10. A national transportation system combining aeroplanes and fastest trains is being inaugurated to cut the time from ■ New York to San Francisco to exactly two days. There will bo parallel rail and air services. In order to avoid tiring the passengers unduly by prolonged air flights, the tourist .could start enriy in the morning from New York, fly all day to Chicago, and there take the night train, and get a comfortable sleep to Omaha, catch the aeroplane next morning and finally arrive at San Francisco aboard a tram fifty hours after leaving home. rfhc Pennsylvania Railways and National Air Transport Cov with Atchison, Topeka and Santafe Railways in the west are handling the scheme.

CANADIAN NEWS. OTTAWA. May 10. In the Commons the Committee on /"•"■industrial International Relations en- ( T dorsed the principle of unemployment > 1 insurance, based oh compulsory enn--1 trihutions of the State, employer, and employee. The Minister at the Immigration Enamending legislation of 1925. Air Holray to Alderman Cold well in connection with immigration permits. McAlurrav has been summoned to Ottawa to give evidence next week.