CABLEGRAMS AND WIRELESS

Greymouth Evening Star, 14 September 1934, Page 8

CABLEGRAMS AND WIRELESS

ARGENTINE CONVERSION.

[by cable— pbksb asbn.—oopybight.] RUGBY, September 12. A scheme for converting a large part of Argentine’s debt from 5 per cent to 4J per cent, on all loans, is announced, and underwriting’ took place yesterday. Five Argentine loans are affected, and the holders will be invited to exchange into four and a-halfs, on terms entitling holders of maturity stock to receive new stock at the price equivalent to £93J. No cash subscriptions will be invited. Nearly ten millions sterling Argentine Government bonds are involved. POPPY SALES. RUGBY, September 13. Sales of artificial poppies for the British Legion which are made annually on Poppy Day, November 11, yielded a gross revenue since 1921 of £4,923,959, the number of poppies distributed in the 13 years being 380 million. The result of the 1933 Poppy Day appeal was £511,853, an increase of nearly £30,000 over the previous year. WHOLESALE PRICES. RUGBY, September 13. The average of wholesale prices foi' August showed a rise of 2.1 per cent, compared with July 3, and one per cent, over August last year, the respective index numbers being 88.5 — 86.7 —and 85.8. Food prices increased by 6£ per cent, from the previous month, and the index for cereal group was the highest recorded since August 1930. Industrial materials, however, continued the downward trend which began in March. IRISH BLUE SHIRTS. DUBLIN, September 13. Mr Aiken has made a peace gesture to the Blue Shirts. He announced in the Dail, that the Government had decided to restore the Army pensions of Blue Shirts, who lost them in consequence of recent convictions by a military tribunal. MORSE OBSOLETE. LONDON, September 13. The Morse Code, which has been used for 70 years, has finally disappeared from the British telegraph service, and has been replaced by the teleprinter, whereby typed .messages are simultaneously reproduced in any big town in Britain. A teleprinter operator can send a hundred messages an hour, compared with an average of thirty-six by the Morse system. It is expected that the cost of sending telegrams will be reduced shortly.