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Temperature 80 Barometer 29.53
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No. 19,2:4. 四拜禮 魏十月七年四十二百九千一英
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THE DOLLAR. To-day's closing rate 3/4 11/16 To-day's opening rate 2/4 11/16
HONGKONG, THURSDAY, JULY 10, 1974. 日九月六子甲大望华三十國民華中
AGREEMENT.
THE PARIS CONFERENCE,
FRANCO BRITISH NOTE' PREPARED.
RESULT OF MACDONALD'S VISIT.
(Reuter's Service.)
+
PARIS, July The conference between Mr. Ramsay Mac. Donald and M. Herriot ended at 3 p.m.
Mr. MacDonald informed pressmen that ar agreement had been reached with regard to the joint Franco-British proposals being submitted to the London Conference on July 16 in the form of a Franco-British Note" which is being forwarded
to the other Allies.
!
Mr. MacDonald has returned to London.
EARLIER NEWS.
0
While Anglo-French official quarters are mos reticent, some.newspapers guardedly indicate that the French proposal for a solution of the difficulty over the Reparations Commission is that an American delegate, as representative of the non Allied holders of German reparation bonds, should. sit and vote with the Commission on the question of German defaults in the execution of the Dawes plan, thus, neutralising the French President's casting", vote.
The newspapers also hint that M. Herriot. is raising the questions of inter- Allied debts and security so far as these are affected by strategic railways and the Ruhr questions.
M. HERRIOT'S VIEW.
The Conference between Mr. MacDonald and M. Herrict finished at 1.35 am., and will be resum ed this morning, M. Herriot stated that the course of negotiations had been favourable and thinks they will result to-day in the drafting of the text of an agreement setting forth the French and British view concerning the execution of the Dawes report,
•
AGREEMENT, REACHED.
It is understood that as a result of the conversi tions the misunderstanding has been completely removed. The Fremiers have agreed to the suggestions to be made to the Allies in regard to the agenda of the Conference, but it is obvious that difficulties must be surmounted in regard to the creation of machinery for putting the Dawes Report into operation.
"It is unanimously thought that M." Herriot and Mr.MacDonald will agree to suggest to the Allies that certain outstanding questions should be referred to legal advisers, notably the most difficult question of procedure for declaring default of Germany under the new conditions created by the Dawes Report. Obviously it is felt it is no good to have a repetition of the Ruhr situation.
British diplomatic quarters consider that what is wanted is to devise means to make it quite cicar to France that the Reparations Commission. re- mains to do its work, and also to make it clear, to would-be investors that their investments are
secured
TEXT OF NOTE.
LONDON, July 9,
ARMS FOR CHINA.
SEIZURE AT COLOMBO,
CACTION BY SECRETARY OF STATEN
A SUSPICIOUS CONSIGNMENT.
(Reuter's Service,Į
COLOMBO, July 9
The contraband seized on board the German vessel Schleŝion, which arrived here with 10 cases of arms and ammunition, consists of 100 rifi. 200 revolvers, all German service pattern. The apparently it was intended for China as it was not signment is marked "machinery for Kobe,” but
stored with the Kobe cargo and was readily accessible so it could easily be trans-shipped ar sea. The vessel was searched under lustructions from the Secretary of State.
PRESIDENTIAL CANDIDATE.
DEMOCRATS NOMINATE MR. DAVIS:
ELECTION DEADLOCK ENDS.
(Reuter's American Service.)
NEW YORK, July 9.
Mr. John. William Davis has been nominated Democratic candidate for the presidency of the, United States,
Ambassador at the Court of St. James from 1918- [Mr. John William Davis, who was American 1927, was born at Clarksburg, West Virginia, on April 13, 1873 He was educated at Washington and Lee University Lexington, Virginia. He obtained his A. B. at Virginia in 1892; LL.B. 1895; LL.D. 1915. He holds the last named degree from Glasgow University (1919); University Yate (1921). He was admitted to the Bar in 1895 of Birmingham (1919); Union College (1921) and and was President of the American Bar As-ociation in 1922. In 1918, Mr. Davis was Commissioner to exchange of prisoners of war at Berne.]. the Conference with Germany on treatment and
SURPRISE FOR DELEGATES,
EARLIER.
When the delegates arrived at the Democrat Convention to-day, they were only half awake. They found, however, that, a new spirit was dominating the assembly. #
The supporters of Mr. Smith and Mr. McAdoo early began a redistribution of the votes, Mr. Davis taking, the lead for the first time. The round. ballot gave Mr. Davis 415, Mr. Underwood 307..
A THRILLING DRAMA.
A-thrilling-dramaat last night's session of-the- Convention opened with Ralston's withdrawal and then Smith's conditional withdrawal. Lastly came McAdoo's epic performance. Like a man signing his own political death-warrant he took a stray piece of paper and the stub of a lead pencil, and sitting on his bed scribbled the fateful letter releasing his delegates. He showed the letter to his wife, who readily approved. The letter was then read to the delegates, and brought bitter tears to the eyes of many women delegates, who for weeks had been marching, shouting.flag-waving, hymn-singing and praying for the success of McAdoo."
The violence of the struggle in the mind of McAdoo was indicated by his pathetic messages saying that he felt that if he withdrew his name from the Convention he would be betraying his The text of the Anglo-French Nore is a long tribute to the continuance of the hopeless deadlock. trast to the people, yet he was not willing to con- document, especially the preamble which details He would continue to fight for the principle and' the terms and reference to the Dawes Committee. ideals of progressive democracy and righteousness It cites sections of the Treaty, from which the comand hoped the Democratic Party would always mittee derived competence. It states that the two hold aloft the torch carried to such noble heights governments, recognise the importance of economic by the late Mr. Wilson.
, and financial viewpoints, particularly the necessity to create à condition of confidence which, however, they do not consider incompatible with respect for the Peace Treaty,
THE 100TH
BALLOT.
McAdoo refused Smith's offer to a joint with- drawal, The 95th ballot resulted in McAdoo securing 471% vores; Smith 3672, and Davis 1394.
McAdoo had released his delegates as the. Convention continued voting in 99th ballot. The Convention was adjourned last night after the 100th ballot resulting as follows: Smith 351, Davis 203, McAdoo 190, Meredith 75.
NECESSARY MAJORITY REACHED.
The Note declares the arrangement, which shall be agreed upon, will not prejudice the 'autha- ority of the Reparations Commission. But, in view of the fact that guarantee must be given to investors furnishing 800,000,000 gold marks and to bond bearers, the two governments will unite their efforts to obtain the presence of an American on the Reparations Commission in the event of the latter After the votes, cast for Mr. Davis in the final p having to establish default on the part of Germany, of the 103rd, ballor at the Democratic, Convention, If this solution is impossible and in the event had reached the necessary two-thirds majority, the of the Reparations Commission falling to reach an States were called upon to discontinue balloting agreement, the two Governments recommend and the nomination was made unanimous. commissioner should be called in as Agent-General Mr. Davis, in a statement, said: There can of Payments who must be of American nationally be no compromise with reaction.
Liberal prin. In the event of the Reparations Commission declar ciples must and will prevail. This is the mandate ing an important and wilful default, the Governments of the hour; I shall obey it.” concerned undertake to confer immediately on the necessary measures to be taken.
The inter-allied conference will decide plans to re-establish economit, fiscal unity in Germany; to this end the Reparations Commission will be asked to submit suggestions. Any necessary modification of the experts plan dictated by 'experience, will only be introduced with necessary guarantees and by common agṛrement of the Governments con: cerned. Special organisation shall be created to advise the Governments on the question of the system of distributing, reparations' payments. „
-SEEKING A SOLUTION.
It will be expedient to settle to what authority, if necessity arises, should be entrusted the in terpretation of the Dawos' report. The govern ments have agreed to refer any juridical difficul- ties in the present text to their legal advisers.
The British Government will seek equitable solution of the inter-allied debts, taking into account all elements affecting it; and the question, therefore, will be referred to treasury
an
HOME CRICKET.
SOUTH AFRICANS' TOUR.
FINE INNINGS BY TAYLOR.
BIRMINGHAM, July 9.
The Warwickolire fixture against the South Africans commenced here this morning in glorious, though hot, weather. The pitch was in excellent condition when the South Africans opened their 1st. innings.
They scored 317 (Commaille 44; Susskind 45; Nourse 49: Taylor 94) The latter's lanings was a splendid effort. He never gave a chance; he hit ton fours, making some fine strokes to leg and driving with great precision.
Warwickshire had scored 43 for I wicket when stumps were drawn
IN THE VARSITY MATCH.
LONDON, July'92
At Lords, Cambridge University beat Oxford
experts for preliminary examination. As regards by g wickets, pre the question of security, the two Governments are Oxford made 133, to which Cambridge replied agreed to seek the best means of obtaining comith 361. Oxford's second innings. totalled 248, plete pacification either through the League of and Cambridge made the necessary 24 mins for the Nations or some other channel, and will continues of one wicket. SESAME the examination of the problem unul a solution is -In Chafor in second lanings F. A. Wright took- Anally achieved.
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