AMERICAN ITEMS

Hokitika Guardian, 3 October 1931, Page 5

AMERICAN ITEMS

CANADA’S PRECAUTION.

AGAINST EUROPEAN DUMPING

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

OTTAWA, October 1

The British trade interests, \i hoh interpreted the Ordcr-in-Couiicil, recently passed, as an advantageous Cana!;an move for the extens on of British preference were disillusioned by an order passed yesterday declaring the dumping duty applicable to British goods. The action follows a great commotion in Canadian manufacturing circles ( (any finis were confronted with cancellation of domestic orders, diverted to England under the depreciated pound. Further action is believed necessary regarding Norway, Sweden. Denmark, all with depreciated currency since abandoning the gold standard.

BIG BANK MERGER

NEW YORK, October 2

Mr Charles Mitchell, chairman of the National City Bank, has announced the forthcoming merger of his, firm with the Bank of America, wh : ch will then form the second largest banking organisation 'ih the world, with combined resources as on Julie 30th of 2311 million 400 thousand 908 dollars, compared with the Chase National ■Bank figures at the same date of over 2499 million dollars. The Bank America—Blair Corporation and the Bank America of California will be excluded from the merger.