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The dollar, on demand, closed
to-day
FINAL vreme Court.
China Mail
1845.
THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST
No. 28,248
HONG KONG, WEDNESDAY, OCTOBER 26, 1932.
Est. 18-45.
PRICE $3.00 Per Month.
GOVERNMENT KEEPS CALM AS STERLING SLUMPS
CAMBRIDGESHIRE TO-DAY.
Dorigen Favourite With
Weston Up.
RICHARDS UP ON PRICKET.
London, To-day.
The following is the fan call over for the. Cambridgeshire to be run at Newmarket to-day, jockeys
are given in brackets:-
11-
-100-14
and. Dorigen (Weston),
and o Totalg (Rosen). B-1 tand o Andrea (Beary). 100-6 tando Galdennis (Hunter) 100-6 and a Pricket (Gordor
Richards).
18-3
tando Double Arch. (Jor Childs).
20- tand o Glannarg (Sirett). 22-125-1 Diamantee W
Rickaby),
- Beneficial (S.) Wragg).
22-1 D
*25–1
tand o Biolite (Fox).
33-1 33-1
tand o Wyvern (A. Wragg),
o 40-1 t Slipper (Perry-i mun).
35-1t and o Ada Dear (Steve
Donoghue).
To-day's Cambridgeshire classic at Newmarket wili recall the success of Tom Walls, the stage and screen star whose April the Filth won the 1932 Derby. The above shows father and son, T. Walls nr.. returning to weigh in. Tom Walls is on the left on Ballet Dancer and his son, a promising jockey, is seen rid ing Myrtle Grove.
THEATRE FINED
35-1 t and Royal Athlone FOR BREACH OF
25-1
35-1
(James).
28-1 Scatter Cash (E. Smith).
0
40-1" o
40-1 t Abbotsworthy (Johnatone). -
45-11 Alluvial (Cars- Jake).
„40-1 D 45-1 t Blandearna (E.
Fox).
40-1 50-1 t St. Oswald (C
Ray).
40-1
o 50-1 Becti (Robertson)
Apperley (Lane),
50-1 Seraph Boy (Bar- ber). tand o Great Scot (Collins),
CENSORS' RULE
Popular House Pleads Guilty To Charge.
»
CHINESE TROOPS IN FILM.
A fine of $50 was imposed by Mr. Bohofield in the Central Police Court this morning on the management of
the King's Theatre, who pleaded guilty on a summons for exhibiting:
60-1 t Sea Cat (Carr) a Paramount News Reel which had
66-1 Duodecagon
not been consored, on October 5 and
t
t and o Thaouka (Elliott). 6.
10-1 45-1
50-1
50-1
50-1
B
(Dines).
66-1
66-1
66-1
100-1
(Nevett).
100-1
o Leicester
Evans).
100-1
100-1
tando The Pen (Clifford Prosecuting, Mr. T. H. King.! Richards).
o Venturer (Gethin).
Deputy Inspector General of Police,
said that the particular newsreel
tand D Pal O Mine began with British scenes and end-
Lane
led with scenes of particular Chinese? (Parmies.
He did not alleged that: the film was shown. intentionally,
NEW WANCHAT MARKET PLAN OF GOVERNMENT.
Growing District Requires
Purchase Facilities.
It is reliably reported that the Department of Public Works is contemplating erection
of a large public market on the reclaimed area at Wanchal
While the date for commence- ment of the work is, not known, it is generally believed that it is near. The undertaking is made advisable in order to serve the growing population of the district.
Children Eat Rat Poison
EUROPEAN
OFFICER'S
CASE HEARD Acting Sub-Inspector
H. Waller Charged.
DETECTIVE IS WITNESS,
**
The case in which Acting H. Waller, Sub-Inspector attached to Tai Po Police Station, is charged with sc cepting a bribe of $50, was continued before Mr. E. H. Williams, District Officer Narth and Magistrate, in the Tai Po Police Court this Afternoon. Mr. L. HC Calthrop, AS.P., was in Court representing Police.
the
The Hall Mark
Superlativ Product
SENSATIONALLY
EXPERT DENIES
RESERVE SOUNDNESS OF
EXCHANGE RESERVE CHECKS DECLINE SPECULATOR S PUSH PRICE TO $3.28 ON NEW YORK
CHANCELLOR'S
STATEMENT
In spite of the heaviest loss sustained by sterling since the nation went off the gold standard, money markets remain calm and official Britain is restrained in Its comments. There is no panic. The pound has hit the unheard of value of G$3.28 and it" clung precariously to its price of G$3.301 when the Exchange opened next day. Rt. Hon. Mr. Neville Chamberlain calmly attributes the loss to "seasonal influences" and speculation.
London, To-day.
After a further decline toi
G$3.28, sterling, on New York, RESTORATION OF
recovered yesterday to G$8.2014.
The low price of the pound is seasonal character
Accused has been on bail of $500.
tak attributed in City circles to in- A Chinese detective was one fluence of a of those to give evidence against which are naturally more marked the accused.
since the departure from the gold} Waller, it is alleged, accepted standard and accelerated by the & bribe of $80 from Wah Chun, selling by foreign speculators, a foki at a stall in the Tai Po whose operators are considered Market, and $20 from another to be attended by a considerable Chinese.
measure of risk to themselves.
The first witnesses were dilled in the morning session, was continued this afternock
BRITAIN AT
o Pharoah III. (Rowley), but he did. contend that it was As a result of eating some rat" o Pullover (Richardsor).
gross carelessness on the part of the poison in mistake for sweets, 100-1 Rear Admiral (H. Beas-management. The film had been three Chinese children of the
-Reuter.
ley).
TWO CHARGED
1:
WITH DARING
MAIL ROBBERY
Stolen Notes Found
In Chimney.
MOST DARING CRIME.
London, To-day.
Two men have been charged:
shown for two successive days, and Yaumati district are now lying when the reel was submitted to the in the Kwong Wah Hospital.. censor, the end part was cut out. Their condition, however, is not
When an incident like this occur-serious.
red it was an injustice to other A Sanitary Department coolie theatres who kept within the re-delivered the poison to the first gulations.
floor of 641, Shanghai Street, Mr. P. M. Hodgson, for the dewhere the children live. Curious fence, entirely agreed with Mr. to know what the stuff was, the King, and explained the position. children, Mary Yu, 10, and Bunji It was entirely unintentional that Yu, 3, and a boy, Yu Siu-kwan, 4, ate it, with unpleasant conse- the reel was shown.
In reply to his Worship," Mr. quences. King said that this was the first
offence by the King's Theatre of TEA PLANTERS
this nature.
His Worship-a little more la with the mail bag robbery at needed than a caution in this case. Euston Station of October 19, Tam. willing to take a lenient view volving the theft of £6,000 in of it. The fine will be $50. registered packages. Police, who combed London last week.! found numerous. pound notes from the mail bags stuffed in the
of one of the. chimney
men's houses. Both men pleaded not guilty and were remanded a week...
WINTER CLOTHING FOR THE ARMY.
China Makes Fine Response.
Shanghai, To-day. Following the appeal of the
TRY TO LIMIT
WORLD SUPPLY Seek System To Control Production.
INDIA, CEYLON APPROACHED.
London, To-day.
On the London Stock Ex ich change yesterday, the feature at the elose was the sharp recovery in leading British Government stocks, especially the War Loan fassented at 102
GRIPS WITH
NEW CRISIS
Premier Tells Commons Of Severe Struggle.
NATION FEELS STRAIN.
London, To-day.
In the House of Commons yesterday, Premier Ramsay MacDonald announced that the Government was striv ing with its utmost strength
to remedy the new crisis in Britain by balancing the Budget, converting national. debt to lower interest, stimu- lating trade within the Em- pire and negotiating with foreign countries for 'diminution of existing bar- riers to international trade.
a
James Maxtón, (Labour), recalled that the pound had fallen to also that exports were re- duced and unemployment Mac- higher. But Mr. Donald urged the House of Commons not to take odd' days, but extended periods when comparing the value of sterling.
(Continued on Page 12.)
10 is lowest point
|
SILVER SEEN AS ECONOMIC TONIC
French Expert Urges
[..
World Acceptance.
• TO OPEN 'NEW MARKET.
Vienna, To-day.
TARIFF POLICY
Sir Walter Layton Resigns Post.
BREACH WITH GOVERNMENT.
.1)
London, To-day "
opting to a difference of
opinion with the Govern- ment, Sir Walter Layton, prominent British econom- ist, has resigned from the Preparatory Committee of the World Economic Confer- .. ence.
In a letter to Premier Mac-
Donald, Sir Walter says there is common ground between the Gov- ernment and himself on many points, as instances the neces- sity of early settlement of war debts and at the earliest moment,
the removal of special measures at present causing a virtual block-
ade of international trade.
But
the serious difference is regard-
ing further action to restore rés- sonable "freedom of international trade. He says the Government's view is that results, can be ob tained through individual, nego- tiations with foreign countries within the limits set by the Ottawa agreements and subject to the strict insistence of our most favourable nation's rights. The restoration of silver as a Sir Walter fears the method of currency was urged by M. Cail bilateral negotiation will make
or, no impression on the " laux, former French Finance little
system. Answering a
Minister, in an address on the world's protectionist question in the House of Commons as to whether world economic crisis before the Britain should press forward on speculative attacks on sterling had Austrian League of Culture here much bolder and broader plans,
be urges been checked by the Exchange Millions in India and China,
"Unhelpful" Attitude." Equalisation Account, the Chan he declared, who lacked gold, had cellor of Exchequer, Mr. Neville been lost as buyers on the world Sir Walter believes that pro- Chamberlain, "replied he was un-markets. If a silver currency ress in the direction of lower features of the Government policy... able to say to what extent specula- were restored, they again would tariffs is handicapped by certain
He tion in the exchange existed, but become potential buyers. he had no doubt that reserves of also urged the dropping of cus-He mentions, apart from the ten- foreign currency in this account toms barriers throughout the dency, to introduce to permanence had acted as a deterrent against world as a means to greater and rigidity the tariffs on meat, that quotas implied endorsement the activity of speculators. The trade. Such
of the principle of compensatory purpose of the account was to pre- tariffs had a throttling effect on tariffs in the Ottawa Agreements vent excessive fluctuation in the world commerce, he said.
with. Australia and Canada. value of currency and it was never While M. Caillaux was not helpful attitude" of Britain to- intended to keep the exchange at speaking for the Government of wards the regional agreements in a fixed price or keep it within a France, his views carry great Europe, such as the Dutch-Belgian fixed range of values in opposition weight, for he is known to be a Convention initialled at Lausanne to seasonal or other tendencies, he prominent figure in French fin-last July, he condemns. explained.
Hong Kong Dollar.
restrictions 89
ance and with a large Govern-
ment following. It is possible (Continued on" Page 12.) After its rise of 1/8 yesterday, that France may be one of those
the value of the local dollar re-nations who will plead the cause MEANS TEST mained steady, standing at 1/4% of silver at the World Economic this morning."
Conference. Reuter.
Silver spot is quoted at 18 this morning, while forward is given at 18%, showing an crease of 1/16 on yesterday's quotations... t The value of the pound dropped sharply, the Londen on New York cross rate being quoted at £G$8.80 1/4 this morning an against G$8.38 1/4, and the London rate at New York on 3-G$8.80 1/4 as against £ G$8.82 1/4 yesterday.
ECONOMIC PARLEY AGAIN DELAYED. Premier Bennett Has New Report.
Ottawa, To-day.
WILL REMAIN
The
OPERATIVE
Premier Answers Vote Of Censure.
OUTLINES STATE COURSE.
London, To-day. Reports of another postpone ment of the date of the World When the Labour Party mo- Economic Conference "based [tion of censura on the Govern on some foundation," were pre- ment was moved in the House Mr. Chan Hing-wan, formerly valent, Mr. R. B. Bennett, Prime of Commons last night, the Op- commissioner of Public Safety Minister of Canada, admitted, position Leader, Mr. George Who has been in-active in politics replying to a question from Mr. Lansbury, criticised the econo recently, left for Shanghai yester WL Mackenzie King in the mies effected in social services. day on the President Hoover.
Proposals for the regulation of Air Ministry Orders New Mail
tea exports, submitted by the big! producers of Jaya and Sumatra, were considered by committees of the Indian tea and Ceylon and
Plane With speed of 195 m.p.h.
The robbery was one of the most daring and sensational in) London, Crime annals. A big car drove up to Euston Station in! broad daylight, three men leaped Manchurian Volunteers for win- South Indian Associations in
At the genera ont, tripped up the postman whol
perial was carrying the mail bags, ter clothing, and monetary. Help London yesterday. The com seized his burden, ran to the car to enable a continuation of the mittees suggested minor altera
tions and are now waiting to hear was and drove furiously away struggle against the Japanese whether these are acceptable.
Hundreds of persons witness and Manchukuo forces, Nanking, Java and Sumatra ed the robbery. They stood son-
Shanghai and other cities
ointed out the whole fused and amazed while police
be submitted to whistles thrilled and the bandit throughout China have launched
car raced to freedom drive to raise funds for this vidual members of
and also
London, To-day, | Construction is nearing com- setingvotu: Im- pletion on a fast mall-carrying aero- plane ordered as an experiment by
the year
A
the Air Ministry from Messrs. The Paul Limited. Bolton-and
top speed Machine will have
bbour, and a range
Is a biplane
two
House of Commons yesterday, and the imposition of the Means Discussions were still con- Test on that section of the un- tinuing in respect of the date of employed whose right to benast under the insurance act had ex- the Conference, he added.
pired. pe Reuter.
Premier MacDonald, in reply ing," stated that the increase. Îng MR. LANSBURY AS unemployment had been greatly
LEADER.
Londor
George Lansbuz
of the Labour
the successor of Mr
decelerated since the National Government took office and re- called that the Means Test Had en instituted when the Labour, overnment, including the
of the Opposit
lice
carsprowled London
in search of the rob
ne but found no
response has already bean ciat
ibutions for
the fugi
and cleverly com