AMERICAN CABLE NEWS

Hokitika Guardian, 18 May 1928, Page 2

AMERICAN CABLE NEWS

t United Press Association.—By Electric Telegraph.—Copyright.)

STOCK EXCHANGE. NEW YORK, May 16. The Now York Stock Exchange today again broke the sales record with trailing totalling 4,940,000 shares. Airplane share issues were leading at a new highest level when a sudden break came, and then various stocks lost as much as forty points. The tickers were an hour behind the Exchange. The Stock Exchange will have a holiday on Saturday, to allow members to catdi up> with the work. This is the third successive week of a .sudden break, attributed to an exhaustion of buying power, rather than to the credit conditions. When the Philadelphia Federal Reserve i ll <■ Tease is considered, the actual losses of the day are small.

WEALTH OF U.S.A. NEW YORK, May 10,

According to a compilation, with Stone, Weibstor and Blodgett incorporated there lias boon a 4,400 per cent, increase in the wealth of the United States since the year 1850. This liar curried the total worth of country to 320 billion dollars.

U.S. NAVY. WASHINGTON, May 16

President Cooliclge surprised the House of Representatives and the Senate by a sudden and vigorous insistence that the Navy shall build ships; His chief opposition is a small group of Radicals in tbe Senate, who threaten to talk the Naval Bill to death.

Senator Curtis, conferring with Mr "Wilbur (Secretary of the Navy) offered little hone on the idea of holding engross long enough to break , the threatened “filibuster.’’

However, some encouragement is seen in Senator Johnson's statement that lie would be satisfied with a two day’s discussion in the Senate of a Rill which has been blocking tbe Naval Bill. The Assistant Secretary to the Navy, Mr Robinson, talked with the leaders of both Houses, urging that the Navy Bill should not be permitted to be talked to death.