AMERICAN ITEMS

Hokitika Guardian, 4 March 1931, Page 5

AMERICAN ITEMS

A FRESH SLUMP. (United Press Association—By Electric Telegraph.—Copyright.) NEW YORK, March 2'An expected reaction from the upward movement of the stock market occurred to-day, when prices declined from one to five points, with sales totalling 3,300,000 shares. Some of the most important railroad and industrial stocks registered the largest losses United States Steel shares sold at 145 J, being off two and a-quarter points. New York Central Railroad shares last five points on a report showing pool 1 earnings for the last quarter. Westinghouse Electric shares lost five points. General Electric and Bethlehem Steel shares were down be tween one and five points. Although professional interests expected a continuation of the boom movement, to-day’s reactions were considered to be inevitable, due to Wall Street’s tendency to over-emphasise reports of an improvement of business conditions. CANADIAN WHEAT TRADE. OTTAWA, March 2. The Prince of Wales is to be invited to visit Canada next year to open an International wheat exhibition and a world conference on wheat at Regina, in Saskatchewan.

AMERICAN VIEWS. ON NAVALTREATY. (Reoeived this dav at 9.40 a.m.) (WASHINGTON, March 3. While the State Department declines to make any comment on the Naval Treaty changes, it is feared here that there will require Senate consent before American approval can be given. Officials express the conviction that the basic contents of the Three Power Treaty will in no way be altered by the contemplated Era,neo-Italian revision. SCULLS TITLE UNDEFENDED. (Received 10.35 a.m.) OTTAWA, March 3. At Toronto on Tuesday, Jack Guest announced he would not defend the Diamond Stulls. Joe Wright, the 1928 winner, also announced he would not compete. GRAIN MARKETING. ROYAL COMMISSION APPOINTED. OTTAWA, March 3. The appointment of a Royal Commission to inquire into, the grain, marketing is announced. Three paramount problems will . be investigated : —(1) Should the grain exchange be retained or abolished. (2) If retained should trading futures be continued. (3) Would the establishment of a hundred per cent, pool bo conducive to more orderly marketing and be more satisfactory than the exchange and pool method? fe. WHEAT GROWERS PROTEST. OTTAWA, March 3. At "Winnipeg five hundred wheatgrowers, including many members of the pool, protested against the proposed compulsory wheat pool to the Premier.

MONTREAL EXCHANGE. OTTAWA, March 3. Exchange Montreal is 4S5|. PERMIT REFUSED. OTTAWA, March 5. A meeting of farmers at Killarney refused a permit to R. F. Chapman, director of the Manitoba -wheat pool, to speak in favour of a compulsory pool system. WAGE CUT. OTTAWA, March o. j The present is no time to cut wages / declared Senator Robertson, Labour Minister, referring to the proposal of a. small independent railway. It is also no time to seek higher wages either. It would aggravate the depression.