AMERICAN ITEMS.

Hokitika Guardian, 15 May 1929, Page 5

AMERICAN ITEMS.

DEADER MONEY. (United Press Association—By Electric Telegraph—Copyright). NEW YORK, May 13. The Minneapolis Reserve Bank has raised the discount rate from four and a half per cent to five per cent, thus placing all the reserve banks on a similar level, with the exception of that of San Francisco, which retains the rat© of four and a half per cent. AN AMBASSADOR, i WASHINGTON, May 15. Dawes is scheduled to b© the guest of Air Hoover on loth. May, during a serios of conferences with the President and Mr Stimson, prior to assuming diplomatic duties in ' London, where he is expected to arrive shortly alter the British elections. Dawes’ first assignment is to familiarise himself with all angles of naval armaments. the situation which is considered the foremost problem with which he will he associated The debt and reparations questions come second on the list and it is felt here that hulking largely in all the new Ambassador’s work will be the task of bettering Anglo-American relations. NO'FURTHER ACT’ON YET. WASHINGTON, May 14. President Hoover is of the opinion hat no further disarmament action can he taken till the naval powers have advanced their study of the United States proposals '.submitted at Geneva.