AMERICAN ITEMS.

Hokitika Guardian, 3 April 1929, Page 5

AMERICAN ITEMS.

BANKING COMBINE

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

NEW YORK, April 1

The directors of the National City Bank and Farmers’ Loan Trust Coy., have agreed to merge the trust business of lx>th banks and form a “City Bank and Farmers’ Trust Company,” with Cliarlesi .Mitchell as 'Chairman and capital of approximately ten millions. The National City Bank and its investment subsidiary will continue to function under the present name, having a capital of 110 millions, following share exchange, whereby holders of shares in the Farmers’ Loan will receive five shares -in the National City Bank, for each share of the Farmers’ Loan. It is estimated that the total combined resources of the National City Bank and its subsidiary National City Company and New City Bank and Farmers’ Trust Company will be approximately twenty-one hundred million dollars, the combination thus taking first rank in t.ie United States, which was recently captured when the Guaranty Trust and National Bank of Commerce formed a merger valued at two thousand millions.

STOCK EXCHANGE

NEW YORK, April l

Prices dropped violently on Stock Exchange to-day with a general loss of one to twelve points. Shares were renewed at ten. Call money rose to fifteen per cent. All leasings issued suffered losses, but some rallied slightly towards the close. Much uneasiness was felt, due to the meeting of Federal Deserve Governors at Washington, but no definite announcements were given out by them.

DELAYED HONEYMOON. VANCOUVER, April 2,

A bride who is to join her husband in New Zealand and oivo.v a honeymoon almost a year after marriage, sails on Wednesday morning bv the Aorangi. She is Mrs L. AY. Borkner, wife of the radio expert and aeroplane pilot with the Byrd Antarctic Expedition, who was lent by the American Bureau of Standards, and just transferred for duty in New Zealand. The couple were married last May and the husband left shortly after with Byrd.

IAIALONE HEARING

(Received this day at 11 a.m.,

WASHINGTON. April 2

Attorney-General Mitchell states the postponement otf the New Orleans Imalcme hearing, is due to a request of the Justice Department to permit time for further inquiries. It is asserted the Department will not drop the prosecution of the Imnlone’s captain and crew, unless the investigation now under way fails to disclose any evidence of law violation. It is added that the Department’s complete report on the coastguards’ pursuit o*f the vessel and finding on the legality of the sinking, would be transmitted to the State Department within twenty-four hours.