CABLE ITEMS

Inangahua Times, 26 October 1932, Page 3

CABLE ITEMS

(United Press Assn—By Electric Te.egrapu—Copyright.) THE £1 STERLING PRICE FALLS. NEW YORK, October 24. J The sterling closed at 3.312, a net loss of 7*. It touched 3313. Bankers regard the fall as a manifest at ion of British fiscal policy rather than an indication that the Bank of England has exhausted the means of supporting the exchange. RETRENCHMENT j STRIKE FOLLOWS. CALCUTTA, October 25. Nearly six thousand employees in Perambalur Work shops at Madras, Southern Maliratta Railway, are striking as a sequel to discharges under retrenchment scheme. SEEKING A RECONCILIATION. VIENNA, October 24. According to messages from Buchax- | st, Carol, in an interview, appealed to < Princess Helen, in the interests and wel- j are of their son, to agree to annulment of the divorce and a join* coronation. Helen is reported as willing for a reconciliation, on condition that Lupescue disappears from the life of the v Court. v 1 a TRAMWAY STRIKE P POLICE ARRESTS.

TOKYO, October 275 The Traffic Workers’ Union called a trike in connection with the Municipal Tramways and Motorbus Services for o-morrew. Efforts at a compromise failed. During the week the police arrested scores of agitators and mobilised ten thousand to guard the car-sheds. The authorities are hopeful that they will be able to maintain the services with emergency operatives. Gold Reed 9 30 a m. London, Oct 25 Gold is £6 5s 4id. Sterling’s Sensational Fall Reed 9 30 a.m. London, Oct. 25 The further seDsaiional fall in the sterling is ascribed by the Standard ■o the recall of French funds for mpending State loans, and also tbr bear attacks in Paris and Amsterdam based on the unfounded rumonrs that the Exchange Equalisation Fund is exhausted and that Britain is short of dollars for the December repayment. The standard hints that the Treasury Bank will shortly intervene with disastrous results to speculators. The Sterling Loweat 1932 Level P ecd 12 10 p m New York, Oct 25 A new 1932 low level was touched by the sterling on foreign exchanges on Tuesday, the pound closing, one and three-quarters lower, at 3301 for cables, rallying from the opening of 329 J, It was believed that official support was withdrawn again, since the sterling declined last Tuesday when the currency was stabilised close to the 340 level. The bankers here said that British support would come again when the sterling reached a level that could be supported with greater ease and that do ind cation of that level was forthcoming.

Canadian Dollar Falling

The Canadian dollar closed one cent lower at 91 1-8 cents after opening at 92. International Economic Conference No Date Fixed Reed 12 10 a-m Ottawa. Oct 25 I No date has been fix-d for the' International Economic Conference, Mr Bennett told Mr MacKenzie King in the House on Tue-day. The Press reports indicating the postponement of the Conference were based on some foundation. Mr Bennett said. Some discussion bad been going on in connection with the projected conference, but the pauicu r lars have not yet been made public, he said.