AMERICAN ITEMS.

Hokitika Guardian, 21 November 1929, Page 5

AMERICAN ITEMS.

FINANCIAL 0 UTLOOK

[United Press Association.—By Electric Telegraph.—Copyright. J

Washington, Nov. 19

President Hoover this afternoon conferred with the Federal Reserve Advisoy Board, who were of opinion that the financial situation was excellent, and they predicted a lowering of money rates, which would enable business men to obtain cheaper and more plentiful working funds in New York, where money lias been consistently cheaper lately.

INSURANCE FRAUDS

AMAZING SCHEME

YEW YORK, Nov. 19

Max Chiller and three other men. also four women, have been arrested. The District Attorney is investigating an amazing insurance scheme by which the gang took, out policies on old men and furnished young men in their places for medical examination. The old men mysteriously died. Six exhumations have been ordered.

Twenty thousand sterling, paid by insurance companies to members of the gang, is meanwhile impounded.

REDISCOUNT RATE LOWERED NEW YORK, Nov. 20. The Boston local Federal reserve rediscount rate was lowered to 4J polecat. U.S. DELEGATION. WASHINGTON, Nov. 20. United States delegation to the London Conference was completed to-dav '>• Mr Hoover with the appointment of "eeretary Adams, Ambassadors Dawes, Dwright, W. Morrow and Hugh Gibbon. These nr.e in addition to Sccretarv Stimson, who is head of the delegation, Senator David Reed and Senator Joseph Robinson. Admiral William Pratt and Rear-Admiral Hilary •Tones (retired) will go as naval advisers. AMERICAN COMBINE. WASHINGTON, November 20. The Central Sales Agency which is to be known as the National Wool Marketing Association, with a capital stock of a million dollars, has been organised by Wool and Mohair Co-operative Associations of the United States under the guidance and approval of the Federal Farm Boards. STOCK EXCHANGE, NEW YORK, November 21. The money market being so easy that funds ' went at the beginning at the official rate of four and half per cent, helped to sustain strength on both Stock Exchanges, where---prices finished one to ten points above yesterday’s, close. General Electric’s rose fourteen points to 215. Steel passed 169 and entries list followed them upwards towards the close. Profit-taking reduced the gains but during the last few minutes rallies reappeared.