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HONG KONG WEDNESDAY, APRIL 26,–1933.
PRICE $3.00 Per Month.
ZAMBRENE WEATHERPROOFS
ARE
Superior.
BERNARDS OF HARWICH.
Outfitters.
CHATER ROAD,
HONG KONG
WAR DEBTS DISCUSSED BY MR. MACDONALD AND MR. ROOSEVELT
BRITAIN'S
BOYCOTT
OF SOVIET
Embargo In Operation From Last Night.
SIR J. SIMON'S CONFIDENCE
BRITAIN'S BUDGET
BALANCED
TAXATION PROPOSALS
DETAILED
IN VICKERS EMPLOYEES | CHANCELLOR'S HOPES OF WORLD
London, To-day.
The British embargo on Russian | imports, imposed as a result of the Moscow trial of the six British en- gineers of Metropolitan Vickers. came into operation after the clos- ing of the Customs Office at 5 p.m. yesterday evening.
The embargo, affects 80 per cent, of Soviet imports.
en.
CO-OPERATION.
LONDON, TO-DAY.
DETAILS OF THE PROPOSED REDUCTIONS AND · IN- CREASES IN TAXATION, MOST OF WHICH ARE OF A MINOR NATURE, WERE GIVEN BY THE CHANCELLOR OF THE EX-
CHEQUER, MR. NEVILLE CHAMBERLAIN WHEN INTRO- DUCING HIS BUDGET TO THE HOUSE OF COMMONS YES- TERDAY AFTERNOON. THE SURPLUS OF REVENUE OVER EXPENDITURE IS £1,291,000.
Answering a House of Commons question yesterday regarding the Moscow trial, Sir John Simon. Foreign Secretary, said that the four Metropolitan Vickers gineers who had aiready ar- rived in England had been interviewed at the Foreign Office and had insisted most strongly that their two com- rades, Messrs. Thornton and Macdonald, who were still detained were as completely innocent as they themselves. Having seen the four men him-
THE CHANCELLOR, CONCLUDING HIS SPEECH, REFER- self, Sir John Simon said that he RED TO THE WASHINGTON CONVERSATIONS – AND DE- was completely convincer that CLARED THAT THE MOST HOPEFUL PROSPECT OF ANY the accusations against them CONSIDERABLE ADVANCE TO PROSPERITY LAY IN COL- were ill-founded, and that the ac-LABORATION WITH OTHER NATIONS. tion of the British Government
The Chancellor said that he was not proposing this year to make any provision for the redemption of debt. In these times of unemployment and stress and trade depression, they could in his opinion, use money more wisely and profitably, provided gen- erous provision was made for debt redemption 'when good times came again,
The reversion to the half-yearly system of income tax, he said, would benefit tax payers to the extent of £2,750,000. Its cost would be mainly borne by the depreciation fund amounting to £7,000,000, at- tached to the 5 per cent. war loan, which under the prospectus of the 312 per cent. conversion loan, was no longer required. This non-re- item would thus be used to meet, a non-recurring loss of re-
in relation to the whole matter was entirely justified. - Reuter and British Wireless Service.
WALL ST. BOOM
CHECKED
Silver Demand Eases Slightly.
TRADING SHOWS DECLINE
curring
venue.
The main alterations in faxation proposed by him were a reduction of 2/- per barrel, equivalent to 1d. per pint of beer, the quality of which would be improved; A reversion to the system of half-yearly equal payments of income tax in place of the pre- sent system, whereby three- quarters of the tax is to bel
found in the first half-year;
A reduction in tax on com-
panies raising new capital, from
An uncertain tone reigned on the 1 to 10d. per cent.;
未
[“SAFE:BUT DULL'
BUDGET
Little Enthusiasm In Britain.
CHANCELLOR'S LACK OF ** IMAGINATION_
London, To-day,
The most dificult, lamp" in the world's hardest steeplechase. The Grand National field taking Bechers Brook on the first circuit of the Aintree Course, Liverpool. Eighteen of the 35 starters finished the course, Mrs. F. Ambrose Clarke's “Hellsboro' Jack" (D. Williams up), winning at 26-1, in record time of 9 minutes 28 seconds.--(S." & ̈G.)
EARTHQUAKE
-[2,000. GUINEÀS
AT NEWMARKET
CLAIMS HEAVY BRIGHTER HOPES FOR ANGLO- THIS AFTERNOON
CASUALTY TOLL
74 Bodies Recovered;
Over 400 Injured,
HAVOC ON KOS, ISLAND,
NEAR TURKEY
Old Quarter Of Greek Tov
Destroyed
Kos, To-day. Seventy-four bodies have been recovered from the ruins of the old quarter of the town of Kos on Kos? island in the Dodecanese Archipe lago, following a violent earth- quake which shook the Island on Sunday.
The The "Safe but dull" Budget; árouses very little enthusiasm.
New York Stock Market yesterday, A reduction from 42 per cent. to Even the pro-Government "Times"
and a big drop in business result-3.3 per cent. in tax on arreurs of charges the Chancellor with a lack el, only 3,500,000 shares being death duties and excess profits is of imagination..
dealt in as compared with 4,810,-also made.
Tax Increases.
The essential soundness of the financial. situation and the omin-
total number of casualties is not yet known, but over 400 are injured, many seriously. The old quarter of the town was destroyed.
ARGENTINE TRADE AGREEMENT
Mr. Walter Runciman To Maker Statement To House Of Commons
London, To-day.
The President of the Board of Trade, Mr. Walter Rundman, hopes to be in a position to make statement in the House of Com- mone to-day, for a trade agree- ment with the Argentine.
Some difficulty has been experi enced in reaching an agreement since the visit to London, last month, of the Argentine Trade Delegation-British Wireless Ser
vice.
AMOY PIRACY REPORTED
Chinese Steamer Attacked.
FULL DETAILS NOT YET AVAILABLE
Champion Jockey Riding Favourite.
28 STARTERS FOR FAMOUS TURF CLASSIC
London, To-day
The scratching of Blue Grass at 11.15 a.m. yesterday left 28 star- iters for the Two Thousand Gument to be run over & mile at Newmarket this afternoon.
an
Steve Donoghuë “made eleventh hour. change when he took Titian instead of Restormel Steve's brother, Pat, will be, out] on The Keen. A. Wragg has displaced James on Scarlet Tiger. which is quoted at 100 to 8, and Lane, last year's Derby winner on April the Fifth, is taking out Melfort Instead of Martin:
Weston has changed his Warships have been des 000 on Monday.
mount. He will ride Colorow 'patched to the scene with In their report, Messrs. E. A.
doctors and nurses and sup--
at 10 to 1, while Wells has Pierce and Company state: "The Increases proposed include 1d.ous shrinkage of sources of taxa-]
A Chinese-owned steamer, plies for the stricken town.
been given Highlander, irregularity is more pronounced and per gallon on heavy hydro-carbon tion are widely held to justify assist
B.s. Sanh Sing, has been pirat- Kos Island, which lies a few the market is mixed and hesitant, alls to operate from last night, bolder experiments to
trade recovery. Neverthe
Restormel is now the only ed just outside of Amoy, We would wait a bit before making effected by a reduction in rebate on
horse without a rider. commitments on the long side. them from 8d., which is the full less, the noteworthy changes in miles off the south-west coast of
one of the largest Although notification in the form "Wheat: Profit-taking was less amount of duty, to 7d. The main taxation are more political than Turkey, is
islands in the Dodecanese Archi-of a wireless message addressed to
Gordon Richards is up on enthusiastic and demand caught oils affected are fuel gas, lubricat financial.
pelago, having an area of 110 the Conatal Office was not received Manitoba, favourite for to-day stop-loss orders at the close.. Coting oil and kerosene, the yield be. The tax on heavy oil wil
square miles. It is populated protect coal. tod was absorbed by heavy profit-ing equivalent to £2,000,000 in a
The new impost on heavy mostly by Greeks. The town of at the Government Radio Office classic and the Derby, and all in: taking and well supported by trade full year on the large stocks offers a designed to help Kos has just over 8,000 residents, until this afternoon, the outrage is dications point towards a win stated to have occurred at 10 am for the champion., Fred Fox, his yesterday, and it is thought that the nearest rival, is taking Solar vessel has only just been released Boy to the post, but he is not ex- from the hands of the pirates, pected to figure prominently.
buying.
“Silver demand is growing less intense and the outlook seems to resolve itself round
the problem of additional
news
"A 60 cent dividend on
these oils already in Britain..
Other Increases are the "rais- ing of duty on imported matches to 4/9d. per gross, with a yield in a full year, of £100,000.
the groaning railways, while the cheaper beer terms will provide the brewers with the
Reuter
use of a greater proportion CHINESE ADVANCE of home-grown barley,
The estimated shrinkage of
CONTINUES
Of Changli.
United The raising of duty from 6d. to £52,000,000 in fixed debt charge Staten Steel, Proferred Stock, has 1/ on mechanical lighters, and to is taken to imply the continuance been declared."
1/68. when these are imported and of very cheap money, though Vanguards On Outskirts Bond averages showed an upward a 6-surtax on British sparkling the bulk of the charge is already trend, rising 15 to 75.20, but in-wines.
saved throughTMTM conversion dustrial, rail and utility averages The Chancellor also promised operations. Reuter, declined 1.24, 97: and 42 to 7245, considerable increase in faxation of 50.11 an 28.28 respectivaly-Beu-heavy, motor vehicles to take effect
from January. 1, next.
The yield from this source in s That result, achieved in the teeth of full year will be £1,750,000, and will so many dimculties, should give more |solid satisfaction-than-the-contempla.. tion of surpluses, earned more pros
ter,
NAZI PERSECUTION
OF JEWS.
School Restrictions
go to the road fund, -
LUAN RIVER AREA LUAN RIVER AID
Peking. To-day The Chinese continue their -ad-
He also stated that the machinery parous times, Mr. Chamberlain avance along the Peking-Mukden of the Import Duties AdvisoryHe compared the present prices of Railway following the Japanese River Committee would be applied to go and maintained that immenie withdrawal from the
Imposed.
artificial silks,
Berlin, To-day,
Revenue And Expenditure.
Government securities with those of a
Baancial benanta would not have been region, and the Chi secured It the Government had not in
sisted
on a balanced Badgers are now on die
Despite the shrinkage of Inter
national trade
and the continued
are high level of una
ming and
The children of Jewish imm- Estimated revenue for year grants who have arrived in Gor 6608,770,000 and theezpe many from the East since the be £897, 486,003, thus leaving a surplas of ginning of the war have been tatul» £1,291,000. The Chancellornid that ly excluded from Slate schools and expenditure: last yearE WAERTY 000 500 Universities under law by the Cabinet
decres also fariker.
and revenue was #745,000,000, A The
adopted deficit of £22,000,000 would be mat,
3- borrowing. But for the war debt pay eis ment of £20,000,000 to the. Un
itted to
{Statan, for which no ï pro
been made in the Bodast the would, havakbóan, 12:1630)
The
There are no local agents for the owners of the ship, and her name is not listed in Lloyd's Register.
MIXED MARRIAGES
IN CALIFORNIA -
Prohibited To Whites And Filipinos.
Joe Childs on Statesman is ex- pected to prove the biggest dan ger to Manitoba.
(Continued on Page 8.)
DOLLAR STEADY
AT 1/4
Pound Declines As Silver Rises.
The local dollar remained stead
NO PLAN OR
SETTLEMENT
UNDER WAY
Reach Basis Of Clear: Understanding.
“MOST · FRIENDLY. -PROGRESS. HAS BEEN MADE?
Convermtions To Be Continued In Capitals
Washington, To-day. The fact Mr. Ramsay Mac- Donald, the British Premier, and President - Franklin D. Roosevelt discussed the war debts yesterday, and reached a "Basis of clear understanding on the situation affecting the two nations" was disclosed in
■ communique issued to-day.
The communique added that no plan or settlement was un- der way, "but the most friendly progress had been made, and "the conversations would - be. continued in London and Was
hington.-Reuter, BIMETALLISM
CONSIDERED AT
WASHINGTON
Anglo-American Talks
Successful
AN UNDERSTANDING FOR
· MONETARY STABILISATION.
Washington, To-day.
The Anglo-American con- versations will be concluded here to-night. Progress has exceeded the expectations of both sides.
It is learnt that a general. basis of understanding has been reached, and includes an actual basis for monetary sta- bilisation.
It is understood that the Anglo-American and Franco- American talks dealt with some form of bimetalliam and the substitution of silver as currency backing commensur ately with the reduction of gold cover. Reuter.
World Economic Conference.
TO OPEN ON JUNE 12.
Washington, To-day.
Mr. Hamsay MacDonald and President Roosevelt have agreed on June 12 as the date for the opening of the World Economic Conference, Realer.
War Debts.
NO DEET PROVISION IN BRITISH BUDGET,
recei
reparations £500,000;5
represen