THINKING
new truck ?
ASK US
ABOUT
THIS
THE HONG KONG HOTEL GARAGE
Stubbs Road, Happy Valley.
t17 1
China Mail
BEDFORDY
Est. 1845.
THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST
No. 28,457
HONG KONG, SATURDAY, JULY 1, 1939,
PRICE $3.00 Per Month.
GENTE
MR. ROOSEVELT STILL REFUSES TO STABILISE US. DOLLAT
WIMBLEDON SURPRISE
H. G. N. LEE
ELIMINATED
BY STOEFFEN British Seeded Player's Two Set Lead.
MENZEL AND SATOH ENTER QUARTER-FINALS
London, To-day.
NARROWER FLUCTUATIONS
IN EXCHANGE
Dollar Rate Moves To 4.30 Closing At 4.2612
Fluctuations in the dollar mar- ket in London were Darrower
yesterday.
The cross-rate opened
at 4.27
and moved to 4.30 but closed at
"OUTSIDE SCOPE OF
CONFERENCE
CURRENCIES WILL FIND
THEIR TRUE LEVELS
126 Gold currencies remained FAVOURS AGREEMENT TO PREVENT
On the Stock Exchange markets were irregular but British funds improved, war loan closing at 98 15/18.
GIANTS
R. Menzel (Czecho Slovakia), L. CARDINALS BEAT
Stoeffen (U. 5. A.), and Jiro Satoh (Japan) have entered the quarter finals of the Men's Singles at Wimbledon.
Dean Blanks National League Leaders.
YANKEES LOSE 13-12
L. J. Stoeffen provided the sur prise of the day when he eliminated H. G. N. Lee, the British seeded player, after losing the first two sets and being 5-all in the third set. The
New York, To-day. atch went to 53 games.
St. Louis Cardinals again beat Britain has now only two repre- New York Giants yesterday' and are sentatives, Bunny Austin, last year's now very close on the heels of the finalist, and G. P. Hughes, Fred leaders in the race for the National Ferry's Davis Cup partner. League pennant,
HUGHES BEATS SEEDED PLAYER
London, Yesterday. G. P. Hughes entered the quar ter finals when he eliminated
sceded player (name missed) by 19-7; 7-5, 6-8. The loser must have be either Ellsworth Vines, Jack Crawford, Henri Cochet, Bunny ustin or Clifford Sutter British Wireless Service.
VIOLENT FLUCTUATIONS
GOLD NATIONS' TEXT
LONDON, TO-DALTAS
THE CURRENCY CRISIS AT THE WORLD ECONOMIC- CONFERENCE HAS NOT BEEN SOLVED. -PRESIDENT ROOSEVELT HAS REPLIED THAT THE UNITED STATES 18 NOT YET PREPARED, TO STABILISE THE DOLLARITER ATING HE PREVIOUS STATEMENT THAT ALL QUR- RENCIES SHOULD BE ALLOWED TO FIND THEIR TOWN TRUE LEVELS. THE ULTIMATUM PREPARED. ETHE GOLD NATIONS, LED BY FRANCE, IS OF A MORE HODER- ATE TONE THAN WAS EXPECTED, MAINLY DUE TO BRİ. TAIN'S MEDIATION ON THE MONETARY DISPUTE BE TWEEN AMERICA AND EUROPE. — REUTER.
Campo Bello Island, Today
It is understood that President Roosevelt considers temporary stabilisation as a banking rather than a Governmental pmblem, and therefore outside the immediate realm of the World Economic Conference
2
In a game which produced 25 rana, New York Yankees, world A later cable states that President Roosevelt replied thus to pews champions, sustained & severe chack by Cleveland Indians. Was- paper reporters when asked to commet on the reports from his Brie hington, present American League ish quarters, in Locdon That President Roosevelt is unders Icadera, won over Detroit Tigers to favour an agreement to prevent violent fluctuations in currency." to complete the New Yorker's dis- comfiture.
Philadelphia Athletics and the St. Louis Browns shared the spoils in the only” “double-header" on a full programme.
4
ROOSEVELT REPLY. GOLD C COUNTRIES
Campo Bello Island, Later. It is indicated that President Roosevelt regards the stabilisa- Wally Berger bit his fourteenth tion issue as too complicated to homer of the season to assist Bos-be solved in a couple of days or ton Braves to crush the Reds by weeks by the World Economic
¡ to 3.
Results as cabled by Reuter:
National League.
The weather yesterday was gain glorious and the huge rowd gave Her Majesty the Queen a great ovation when she entered the Royal Box on the Chicago *centre court. Her Majesty was Brooklyn
ccompanied by Princess Alice.
End the Earl of Athlone.
Conference.
Meanwhile, he considers that
RESOLUTION
World Must Return To Gold Standard.
"
London, To-day.
the fluctuation of the dollar will The following are the general R. H. E not prejudice domestic economy terms of the resolution submitted by
3 7 2 in the United States.
gold countries in which they fully agreed.
6 15
2
་:་
2 7 Lombardi hit a homer.
1
9 13 0
Cincinnatti
tiön when he eliminated Boston
giant Irishman, Lyttle- Wally Berger and Whitney hit
Menzel provided a mild sensa-
the
on Rogers, after a stirring strug
homers.
se in the third set. Winning the
irst two sets for the loss, of only Pittsburgh
4 11
1
two games Menzel was fully ex-
Picinich and Suhr hit homers.
5 10
1
1
5
1
tended in the third which he won Philadelphia at 12-10. The Irishman showed
glimpses of his true form in the St. Louis
fatter set after, an erratic dis
Medwick hit a homer.
play in the opening exchanges, New York but with the victory within his
fgrasp Menzel played brilliantly
Dean pitched.
American League.
to stave off a challenge that, had It been successful, might have Boston proved fatal
Chicago
Menzel eliminated Norman Far-l quharson, conqueror of Fred Perry, New York *In Straight sets in the Third Round. Cleveland
Probably the best display of
the day was given by I., J.
3
Stoeffen, the young American,
Philadelphin St. Louis
who overcame a two sets de-
adit to eliminate H. G. N. Lee,
12 14
13 14 3
18
12: 16
Burns and Storti hit homers... Philadelphia
11 16 Johnson hit a homer.
·7:13· Campbell hit a homer.
the British seeded player. Within an ace of victory" Lee' ropped the third set at 7-5. In St. Louis.
fourth wet he was 5-all, with whirlwind American player)
he lost his early advantage at Washington
In the final set Stoeffen Detroit
raw all his reserves into action
(Continued on Page 9.)**
The latest results as cabled by
Heuter were as follows:
Men's Singes Fourth Round."
Jiro Saton (Japan) beat De Ste-
ani (Italy) 6-2, 6-4, 6-6, 6-3,
Menzel (Czecho Slovakia) bent Lyttleton Rogers (Ireland) 6-1
424 Stoeffen (U. S. A.) beat H
Lee (Britain) 57, 26 7-575,-
(Tables or Page 8,).
BOOK TREASURES. AUCTIONED.
$14,500 For Shakespeare First Edition
The five days, sulu by. Jate Lord Rosebery'
ction
It is hinted as doubtful whether the countries at pre- sent on gold can remain there, and whether au permanent stabilisation should be at- tempted until all currencies . are free to find' their true
levels.
It is understood that the Pre- sident's views are regarded as de- finitely shelving stabilisation controversies, as far as ther United States is concerned, until the World Economic Conference has accomplished other tasks.
It may be noted that the Pre- sident does not express opposi- tion to the informal co-operation of central banks to reduce fluc tuations. Reuter.
Fluctuations To Be Prevented.
MOLEY'S RECOMMENDATION
~TO ROOSEVELT.
New York, later. Professor Moley has recommend ed Profesor Roosevelt to approve the gold countries formula, accord- ing to which the Central Banks will
It is necessary to maintain the gold standard in all coun-
tries still adhering to the gold Lasis.
All countries which have. Jeft the gold standard shall re- turn if possible, to goid.
The stabilisation ratio and the moment for stabilising must remain the concern of
each country independently.
Countries at present on the gold standard have firmly de: elded to defend their position at all cost
Countries with " devalueised,
The annualAWAI Ride A Carba Horse Parade Chel Regents Park, London, on June By attracted many despite the heat wave. little girl) suitably dressed hat wesiber admires one ofs the fine horses) (8, & (2)
REVENUE DROPS DRUG SMUGGLING
IN MARCH
Big Decrease Shown
In Duties.
A sharp drop in the re- venue of the Colony for March, as compared with last year, is shown in the comparative statement of revenue and expenditure published in the Govern- ment Gazette. Revenue for March, this year, totalled-$2,438,360.79 as against decrease is shown in duties, $3,835,850.79 last year. A big
which for March last year, total led: $1,111,163.09
as against $463,800.09 for the correspond. ing month of this year,
Expenditure for March, 1933
SENSATION
Juda Ezra Held In San Francisco.
FORMER MILLIONAIRE RESIDENT OF SHANGHAI
San Francisco. To-day. Mr. Juda" Erra, said to be a British subject, and formerly
millionaire resident of Shanghai, and twin brother of- Mr. Isase Ear prominent San Francisco property owner. is held as one of the alleged,"
narcotic heads of a hug smuggling ring. He was arraigned before the Federal Court here, yesterday.
The hearing of the case was ad-
is $2,130,896.34 - as compared journed pending the arrival from with $2,325,343.64 last year China of documents and other
evidence.
COLONY'S CREDIT-BALANCE
RPRISING HOME CRICKET
RESULTS
The County
› nów:
Surrey anffered their fins feat when they visited Ed ton and found Santally Maver and Brown in splendid form, and Leicester for thespre time were not led on urst
Hough Glamorgan respon
h: 43 ta.
Tich Freeman's bag of-7 for in this match gave him tha tinction of being the first
to secure 100 wickets this seas Last year he achieved the feat on June 17-In, the last five seasona behest
taken. 1,375 wickets 28,456 runs an average of 17,052 (Continued on Page 16.) Results as cabled by Beuter:
County Championship. Middlesex best: Falex bre)
Essex 262 and $188. ¡Middlesex 287 (Niebola -
· 203 for B (Nicho]! 6 1
· Laicemer -
Ezra was arrested in connection Leicester 464 for
(145); with a shipment – of: - G$250,000· A favourable balance of $14,187 worth of narcotics on the Arama
132% for Bewicke 179.12 is shown in the Financial
Glamorgan. 4 Statement for the Colony published
Maru. The consignment was con-
in the Government Gazette this reeled in old drums, Beuter.
week.
Revenue for March totalled STOCKS RALLY ON $2,438,360,79, while expenditure for
the corresponding month totalled The excess of assets $2,480.896 over la
on February. 28-wm $14,129,208.67
WALL STREET.
334 Silver
surrencies: approver the BANKING FIRM'S The und
stand,taken by gold countries.
4. U is understood that the British {and-American delegations have IP- proved this text, but that President Roosevelt insista-on-modifications to the section regarding stabilisa- tion,
The discussions were adjourned until today, owing to the inability to obtain a reply from President use their resources to prevent ex Boosevelt to the proposition sub- treme fluctuations in world canren-mitted by the countries concerned.
Reuter
believed that Prendent
Roosevelt will announce his appro- All Delegations Agre
va to-da
Moley Confers In Downing St.
PLY
BIG LOSSES
Assets Halved In 1932
Washington, To-day
The Lact
silver notices for In Wall tion and
Bomerset
100)