In choosing a NEW TRUCK
KEEP
THIS
on demand, closed iny at 1/4 3-4.
FINAL EDITION
China Mail
IN
MIND
Ext 1845.
BEDFORD
MADE IN ENGLAND
British-born Successor to Chevrolet.
No. 28,440
THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST
HONG KONG, MONDAY, JUNE 12, 1933.
U.S. FEARS POLITICAL COMPLICATIONS
AMERICA'S
G$50,000,000
LOAN TO CHINA
"The Times' Sees Increase
Of Restiveness.
EFFECT ON BRITISH HOLDERS OF CHINESE BONDS
J
PART PAYMENT
CONSIDERED BY
MR. ROOSEVELT
WORLD ECONOMIC
CONFERENCE
Washington Studies ALL DELEGATIONS NOW
Legal Aspect.
LAUSANNE PACT MAY BE INVOLVED
London, To-day,
Washington, To-day: The outcome of the G$50,000,- President Roosevelt's assistants 000 loan reported to have been are studying the legality of any made to China by American inter- part payment of war-Debts and the ests to finance the purchase of question of whether the acceptance wheat and cotton, according to of a part payment will constitute "The Times," will be to increase tacit approval for the non-payment the restiveness of British holders of of the balance. Chinese bonds, who must regard. The "Baltimore Sun" believes that any 10 per cent, offer might the loan as an aggravation.
political The case against debtors, is create
complications, that the Chinese national re-since it wil be based on the Lau- venue should be allocated to the
sanne Pact.-Reuter. service of new loans, while their own claims continue to be ignor-! ed.
The organised action taken by the bondholders of the Shanghai-Nanking Rail- way, in defence of their rights, is a case in point. That this action has been initiated by a large body of local investors in this Chinese under- taking is more significant, as they have means that are ob- viously not open to bondholders resident
outside China of in- forming themselves upon the administration of the Railway] on which their bonds are secured. Their charge of extravagance, therefore, carries weight, Reuter.
The Reconstruction Finance Cor- poration authorized the loan on June 3.
Four-fifths of the money is to be used for cotton and one-fifth for wheat, in the open markets of the United States and the purchases) must be shipped in American ships unless these are not available.
The loan runs for three years at five per cent. interest.
Mr. T. V. Soong, Chinese Finance) Minister, who is now in England for} the World Economic Conference,
Cabinet Meets In London.
SIR JOHN SIMON CALLED BACK ÜRGENTLY.
London, To-day. The Foreign Secretary, Sir John Simon, who has been spending a holiday at Le Tou. quet, and who was due to re- turn here, to-day, was urgent- ly summoned to London by air yesterday afternoon for a meeting with the Premier, Mr. Ramsay MacDonald, the Chan- cellor of the Exchequer, Mr. Neville Chamberlain and the President of the Board of Trade, Mr. Walter Runciman.”
The meeting, which lasted for an hour, was held to de- note the developments of the war debt discussion with Was- hington.-Reuter.
15 Nations May Default.
signed the contract during his stay] FIVE COUNTRIES DEFINITELY in Washington.
NEW GOVERNOR
OF PHILIPPINES
ARRIVES HERE
Mr. Murphy Brings An Economic Adviser.
SUCCESSFUL TERM AS MAYOR
UNABLE TO PAY.
London.
A United Press survey in- dicated that if both Britain their
and France default
war debt instalments, due the United States June 15,
there is every likelihood that the 13 remaining European debtors will join in a general default.
IN LONDON
AMERICA TO ADVANCE SILVER
AND TARIFF PROPOSALS. ́
- LONDON, TO-DAY.
THE WORLD ECONOMIC CONFERENCE WILL BE OFFI- CIALLY OPENED BY RIS MAJESTY THE KING AT 3 P.M. TO-DAY. REPRESENTATIVES OF 66 NATIONS WILL GA- THER AT THE NEW ROYAL GEOLOGICAL MUSEUM, SOUTH KENSINGTON, FOR THE CEREMONY, WHICH WILL BE BRIEF.
His Majesty's speech, which will last for seven minutes, will be followed by Mr. Ramsay MacDonald's Presidential address.
Officials of six Embassies were among the Throngs which await- ed a single train at Victoria Station last night. The train brought the French Premier, M. Daladier, and the delegates of Italy Czecho-slova- kia headed by Dr. Benes, Rumania, Portugal and Yugoslavia, winding up a day of almost continuous arrivals, of foreign delegates for the Conference.
U.S. SILVER PLAN! Throughout the week-end the
Use In Central Bank
Reserves.
UNDERSTANDING WITH THE POWERS
London.
American delegates to the World
linflux of foreign delegations con- tinued, and the West End botels, where most of the representa- tives are. staying, presented, a gay scene. Flags of many na- tions are being flown throughout the city, and Victoria Station yesterday kumimed with unusur activity as crowds gathered to see the arrival of the fatsigu visitors.
Sup
Est. 1845..
PRICE $3.00 Per Month.
OF WAR
BERNARDS OF HARWICH
GENTLEMEN'S OUTFITTERS
PIONEERS OF
Quality Goods at Reasonable prices,
CHATER ROAD,
HONG KONG
OF WAR DEBT CONCESSION
The funeral service for the late Air Chief Marshal Sir W. Geoffrey H. Salmond was held at St. John's Church, Hyde Park, London-Foreign, Naval and Military attaches in the procession to the church.—(§. & G.)
10 KILLED IN TRAGIC PLANE CRASH
Amphibian Catches Fire At Chicago World Fair
Chicago, To-day. Eight passengers, all visitors to the World Fair here, and two pilots were killed yesterday, when an amphibian plane crashed in flames during a high wind.--Reu-
ter
The first few days of the Con- PLANE CRASHES
Economic Conference have reveal-ference will be occupied 'with the]
ed that President Roosevelt had speeches of the leaders of the de- 10 YARDS FROM
reached an informal accord with some of the foreign statesmen who recently visited the White House with respect to the use of silver in central bank reserves.
This informal and as yet unbind- ing accord will be presented för dis- cussion at the World Economic Con-l ference and Senator Key Pittman said he hoped that one of the re- sulta of the understanding, officially adopted, would be a world ratio of silver to gold.
The pre- sent understanding does not at- tempt to fix a ratio.
if
legations who will put forward their schemes for the restoration! of world trade.
PRESIDENT
10 Per Cent. Cut In Portuguese Statesman's
Narrow Escape.
Tariffs.
AMERICAN PROPOSAL FOR CONFERENCE.
It was indicated among the American delegates and ex- perls to the World Economic Conference that a flat. 10° per cent, world-wide tariff cut may be the first major point of at- tack on depression.
The American delegation is ready
The object of the understanding to support such a proposal, depend- is to economise the use
of golding on the form of the authority and, under its provisions, the Unit: Franklin D. Roosevelt to enter into which congress-will give President ed States would back its money tariff agreements. isauce with 25 per cent. of gold
Removal of the high tariff bar and five per cent, silver. Other. nations would adopt similar provi-the prime objectives of the Ameri- riers impeding world trade is one of
sions with whatever slight varia-| tions would be required.
can delegates, to which they expect to contribute some practical gesture. Five countries already have The central banks of the vari
Such a
move from the United definitely decided not to meet the ous nations would, under the plan States would be considered logical, June payments as due Hun- mentioned above,
able to as many consider the present world-j Mr. Frank Murphy, the new gary, Roumania,
Jugo-Slavia, stabilise the price of silver. wide strangling of trade by tariff Governor General of the Philippines, Austria and Greece.
There would still be a varying barriers dates from the Hawley- and former Mayor of Detroit, ar-
market price for silver but it Smoot tariff of 1980. would be kept within definite limits rived in the colony to-day on board the President Coolidge.
OF DETROIT -
Governor Murphy, Mr. Mills and the secretary, Mr. Norman Hill. former Detroit newspaperman, are
It was also expected that Poland. Belgium, Estonia and Czecho-Slovakia would not be willing to pay, re- gardless of the action of the two major powers..
be
by the operations of the silver ASSASSINS FAIL
banks.
When silver prices are low, the banks will boy to keep the silver France defaulted her payment reserves at an actual five per cent. due to arrive at Manila on June 15. of last December and is still un-of their gold value in relation to
Tite youngest chief executive In certain whether to pay, because the nation's money issues. the Islands history, Governor Mur-the United States has indicated phy already has broken precedent, unwillingness to discuss for the appointment Mr. Joseph evision of war debts with coun
tries in default. - Milla, general manager
of the! Detroit street railways, to accom-i pany him to. Manila as economic adviser and general administrator!
of the government-owned business
'enterprises in the Philippines.
U.P...
FIVE-DAY WEEK IN AMERICA.
debt
When silver prices are too high, the central banks will sell All operations will tend to prevent a wide variation.:
IN AUSTRIA Attempt To Blow Up Motor Car.
DR. RINTITEN'S ESCAPE
Vienna, To-day. An attempt was made at midnight, last night, to nesa5+ sinste Dr. Ibr Ríntelen, Local This arrangement would provide a greater use of silver and would] Governor of Styria, and ex- result in a better price. Senator Minister of Education for Aus- Pittman said that it would prob.|| triat
Mr. Frank Couzens, youthful son U.S. Naval Employees. would make silver mining Bruckandermur to Graz when his
ably bring about a sliver price · Dr. Rinteten was motoring from
of Senator Frank-Couzens of
(Continued on Page 12.)
MORE WORK IN AMERICA
Washington.
Washington.
..
CROWD PANICS
IR.A. SPLIT IN FREE STATE
"Red Army" May Now Be Formed.
GUN-RUNNING ON THE COAST OF CORK
London. To-day,
The Morning Post" correspon- dent in Dublin states that as a se
TERRORISM BY NAZIS
FIERCE RAID
ON CATHOLIC
CONGRESS
Police Unable To Stop"
Violence.
WORKMAN CRUELLY BEATEN TO DEATH
Delegates Dragged From Beds
Munich, To-day. A young work- mañ was cruelly beaten to death out- side the Cathedral: here yesterday by Nazi Brown Shirts," following a Nazi raid, on a Catholic Congress of apprentices and journeymen.
Many scenes of violence were wit nessed, and police intervention was futile a against onslaughts of the or- ganised force- "Brown Shirts.". The raid took place with remark- able suddennen, and
quel to the Roman Catholic Hier- arhyo denunciations of Commun. ism, there has been a split, in the headquarters staff of the Irish Rewas quickly broken up. publican Army.
xis, who, it is alleged, were
the
Some of the most prominent at the sight of the delegate wear
leaders of the Army have broken ing uniforms,
away and hope to form a Red Thousands of the delegates, in- REMARKABLE COOLNESS AS Army, acting under the inspira-cluding Vice-Chancellor Von Papen, tion of the newly-formed Irish hastily left the building, but many were roughly handled before they could get away,
Lisbon, To-day. General Antonio Oscar de Fragoso Carmona, President of Portugal, had a narrow es- cape from death yesterday, while he, together with Diplo mats and Government mem- bers, was watching a stunt fly- ing competition.
One plane executing a series of daring loops, got out of control owing to a strong wind and nose-dived.
The plane crashed 10 yards from where the President was standing, and a general panic. ensued.
President Carmona alone re- mained calm and only remark- ed. "Please God he is safe."
The airman was severely in- jured.
2 HEROIC BRITISH MISSIONARIES
Deaths Reported From Tihwa, Sinkiang.
ORGANISED HOSPITAL TO COMBAT: TYPHOID
Shanghai, To-day, Mission circles In Bhang." hat have received news that
two heroic British mission arles, Mr. P. C. Mather and Dr. E. Fischbacher, both of the China Inland Mission, died at Tihwa, Sinking, on May 24 and 27, respectively. from typhold.
Communist Party.
The situation is compli- cated by the extensive gun- running on the South coast. of Ireland, and last week, cargoes of arms, -believed to have been sent from Russia were reported to have been landed on the coast of Cork.
After the building had been cleared, the Nazis fol- lowed up their vicious at- tack in the streets, while a number of delegates were dragged from. their beds. The outburst was even direct- ed against the Catholic priesta, There is great military activi, many of whom were prevented ty in Cork, and Waterford, and from holding their services. The Irish Free State aeroplanes are Archbishop of Munich, who was patrolling the coast, watching for to have said Maes for the dele gun-running vessels. Reuter. gation, was forced to cancel the
SPANISH AIRMEN
FAIL
Long-Distance Record Attempt.
ATLANTIC FLOWN IN UNDER 36 HOURS
Havana, To-day. The: Spanish airmen, Cap- tain Barberan and Lieuten-- ant Collar, failed to beat the British Royal Air Force long- distance air record. They Janded yesterday at Camogiey, Coba, 4,000 miles from Seville, after fly ing the Atlantic in under 36 hours.
service. Reuter..
JAPAN ELIMINATE GERMANY Enter Davis Cup Semi-Finals.
Berlin, To-day. -Japan -- eliminated Germany by 4 matches to 1 in the Quarter Finals of the Euro- pean Zone of the Davis Cap yesterday."
Japan will meet either Austra- laor South Africa In the Semi- Final Round. Britain and Czecho Slovakis are the other semi-final- lats.
Nunoi lost his first match in the Berles when he went down before You Cramm, the most improved player in Europe last year, after five sets which included 50 games. The two airmen left Seville for Scores as cabled. by Reuter Havana at 4.56 am. (British Sum-J. Satoh (Japan) best Jaenicke mer Time), on Saturday, Their 6-2, 6-2, 6-2. machine was a biplane with a range Von Cramm (Germany) best R.
Vinat, 20 62 10 2 40 of as hours flying
J. Satoh and R. Nanol (Japan)... The long-distance flight record
profitable. He was not so sure, car ran over a plank covering, a however, that: a ratio would be tube filled with dynamite Secretary of Navy Claude Swan-1 son has ordered that all day and adopted, as A terrific explosion followed, but marine corps employees be placed "The plan is first to stabilise the speed of the car carried it out on a fiveday week basis, effective silver and bring the price up to of danger-Beater. Budget Director Lewis Douglas June 25,
Styria, which has an area 6,820 darka jar fair "leval," Senator Pittman has Informed congressional leaders
The two missionaries had or- ford and Flight-Lieut. Nicholetts Mr. Swanson explained that the said. "I can see the possibility of square miles and a population of that nearly 1,500,000 persons have order was due to the necessity of an agreement on a world-ratio but 1,026,475, is situated between Upper
The cour returned to employment throughout economy, and designed to spread that is not assured yet
and Lower Austria. the country since March 4, it was work and avoid discharges as far as
{la almost entirely mountainous, learned to-day.
practicable.
chief occupation, being mining
(Continned on page 12):
was captured for Britain on Febru. beat Von Cramm and Nourney 82, ary 8, when Squadron-Leader Gay- 6-3, 3-6, 6-1-117-
Earlier Resulls, J. Satoh (Japan), beal - You
ganised a hospital to fight the dig: landed at Walvis Bay, South Africa, ease there, and they had just her flying nonstop, 6340; miles Cramm 6-3; 2-6, 6-3, 6-4 successfully passed through the in-87 hours, in & Fairey Napier
monoplane. Beuter. slege of Tibwa Reuter.
· R2 Nunoi" (Japan); bent':Jieničke.