NEWS FROM OVERSEAS

Hawke's Bay Tribune, Volume XX, Issue 73, 10 March 1930, Page 4

NEWS FROM OVERSEAS

LATE CABLES IN BRIEF.

Schaoht’t Resignation: Dr. Schacht's resignation from the Reichbank followed a heated discussion with his fellow directors, in which he asserted that 'the Young plan was unbearable to Germany. He voiced distrust of the Government’s financial policy. The news spread like wildfire in Berlin and caused consternation on the Bourse, Several important stocks fell from twelve to fifteen points.

£lO,OOO Fire Damage,— A serious fire in Lewis and Co.’s three-storey building, Hobart, caused damage estimated at £lO,OOO. A sinister feature of the outbreak was that when the firemen attended to use the hydrants in the building they were found to be turned off and the firefiroof steel doors wore wide open, alowing the draught to fan the flames.

Youth Shoots at Girl and then Suicides.— -Repulsed in persistent endeavours to persuade Maisie Thompson, aged 14. to accompany him to a dance, James Harvey, aged 16, drew a revolver and shot the girl through tho chest at her home in the suburb of Hurstville, Sydney. The boy then fled and was later found dead in the scrub with a bullet wound in his temple. The girl’s dying depositions have been taken.

Transfer of Australian Money.— From to-day there will be an increase in cost of transferring money from Australia to London. Trading banks have decided to raise the premium charged by 20/- per cent., making the rate for telegraphic transfers 104/2 per £100; for all other usances a similar increase has been fixed. Buying rates also show a rile of 20/- per cent.

Tarin Conference,— At the plenary session of the Tariff (Jonference at Geneva M. Flaudin, French Minister of Commerce, rejected the British proposal for a tariff truce. He proposed that France, Germany and Bel gium should continue the existing commercial treaties until April, 1931; meanwhile, countries not possessing commercial treaties should not impose new duties and should not increase the existing ones. He added that iho French opinion that all States should abandon indirect protection and should suppress dumping and export bounties. The proposals were referred to a committee