Put
these
hefty
trucks
BEDFORD
MADE IN
(NCLA NO
on Your work
HONG KONG HOTEL GARAGE.
STUBBS ROAD.
The dollar, on demand, closed
to-day at 1/4 7-8.
FINAL EDITION
China Mail
Ext. 1845.
Tel. 27778.
No. 28,555
THE OLDEST - ESTABLISHED NE VSPAPER IN "THE FAR EAST HONG KONG, TUESDAY, OCTOBER 24, 1933,
Eat. 1845.
PRICE $3.00 Per Month..
Cou
YOU BUY BETTER
AT
BERNARDS' OF HARWICH -
Chater Road,
GENTLEMEN'S OUTFITTERS.
FRENCH GOVERNMENT'S FALL OPENS A SERIOUS CRISIS IN EUROPE
HONG KONG
UNLUCKY
TWO £100
CONSOLATION
PRIZES ONLY
No Horses Drawn In Irish, Sweep.
T. C. YOUNG WINS £100
London, To-day.
Hong Kong holders of Irish Sweep tickets on the Cambridgeshire Stakes have not fared so well as on With the se- previous occasions. cond day of the three-day drawing completed, only two consolation prizes of £100 each, are held here.
The final drawing takes place in Dublin to-day. The draw for horses concluded yesterday.
The prize winners in Hong Kong
are:
Gutz and Lindbrum. King Street. Tai Hang.
T. C. Young. Cable "Out door," Hong Kong.
Other winners of £160 consota tion prizes in the Far East are
Billy Care, N.K.P.M. Soengel Gerong, Palembang.
Binck Cat, Palembang. Naithieng Thitabasapra. Su mane Road, Banglempoo Bon, Bangkok.
Slamat and Hofmeister, K. P. M.. Batavia.
Vliet.
Pledany Mias J. Buitenzorg, Java.
Tjoeng Tibioeng Sun, c/o Se xiangmen Pangkalpinany Banks.
T. C. Liu c/o St. Shae P. N. R. Hope. Tientsin.-Reuter
Continued on Pape 8.5 LONDON STOCK MARKETS.
Good Tone In, Trading On All Issues,
account
which was
London, To-day. The Stock Markets yester- day began the new with a good tone, maintained until the close, de -pite uncertain international factors which held business in
Mrs. Lindbergh,
INDIRECT INFLATION
SEEN BY TRADERS
U.S. FARM STRIKE NOT HALTED BY SPEECH
LOWER DOLLAR AND HIGHER PRICE| OF GOLD PREDICTED
NEW YORK, TO-DAY.
THE INTERPRETATIONS OF PRESIDENT ROOSEVELT'S
LINDBERGHS FLY ANNOUNCEMENT STILL VARY, BUT STOCK TRADERS HAVE
TO IRELAND
Trans-Atlantic Airport Site Visited.
London, To-day. Colonel and Mrs. Lindbergh yesterday few from Southamp- lon 10 Ireland.
JUMPED TO THE CONCLUSION THAT THE PLAN MEANS STOCKS BOOMED ON WALL INDIRECT INFLATION STREET YESTERDAY, MANY ISSUES RISING FIVE AND
SIX POINTS.
Commodity traders are similarly minded, but most traders are still cautious, particularly regarding silver. They are waiting until the Reconstruction Finance Corporation announces its arst gold price. Until then, the silver position is expected to remain somewhat obscure.
President Roosevelt has signed the Retail Code forbidding sales When over Cork and neighbour- hood they few low over Belvelly, at less than cost, which replaces the original rule forbidding sales at airport is less than cost, plus 10 per cent.-United Press, per S. C. Gold Bar Co. where a trans-Atlantic
CHICAGO, TO-DAY. contemplated, and visited the site
of the Cork Municipal Aerodrome.
Later they proceeded to Bantry and Galway-British Wireless Ser size.
Colonel Lindbergh, accompanied by his wife, who is also an expert pilot, lef New York on July 10 on
survey light, by easy slastes, to decide upon the best route for transatlantic aeroplane service.
JAPAN, INDIA
NEAR TRADE
AGREEMENT}
Principle of Barter
Approved.
IMPORTS AND EXPORTS IN EQUAL PROPORTION
|
4
THE CHAIRMAN OF THE UNITED STATES FARM HOLI- DAY ASSOCIATION, MR. MILE RENO. YESTERDAY SAID THAT PRESIDENT ROOSEVELT'S SPEECH. WILL NOT HALÍ THE FARM STRIKE.
HE DECLARED THAT THE STRIKE WILL CONTINUE UNTIL THE COST PRODUCTION-IS GUARANTEEIL UNITED PRESS, PER 9. C. GOLD BAR CO. - -
London Jews' trade war with Germany in retaliation for the One of the persecution of Jews in Germany by Hitlerites. Jewish mops in Berwick Market with its boycott bill of protest posted up. (S. & G.).
BRITAIN
PERPLEXED BY
ROOSEVELT
Experts Sceptical Of Policy.
NOT A SOUND CURRENCY
London, To-day.
Most of the British financial experts admit their inability to understand President veit's money policy.
President Roosevelt yesterday DIVERSE OPINION "It is the most difficult and most
summoned Mr. Dean Acheson Un- fited States Under-Secretary of the Treasury, Mr. J. Jones of the Re- construction Finance Corporation, and Mr. Henry Morgenthau repre- senting the Department of Argricul- ture, and began to perfect plans for the creation of the Goverment gold
IN AMERICA Roosevelt Policy Is Puzzling.
unintelligible of all the gold gad-
geta.** declares the "Financial
News."
MR. MACDONALD GIVES ADVICE
TO GERMANY Must Have Spirit Of Neighbourliness.
visa apkal
BRITISH ARMS POLICY UNCHANGED
DANGER FOR FRANC
NEW CABINET
TO COME FROM
THE RIGHT
TAX PROBLEMS STILL REMAIN.
L
A GRAVE INTERNATIONAL SITUATION
Paris, To-day. The fall of the French Government opens a serious crisis owing to . the danger for the franc, and the grave inter- national situation exist- ing following Germany's withdrawal from the League of Nations.
M. Daladier's nine- month Government was the third combination of Radicals and Socialists in this Legislature, the others being the Herriot Government and My Paul Boncour's Government.
M. Daladier's, overthrow sounde Going to give up its attempts to se- the death knell of the Laft Cartel fubeun agreed achman of disarma Ministry. The
ment, declared the Premier, Mr. must stretch further ta
London, To-day The British Government is not
Right Ramsay MacDonald, speaking at and turn back on the Soc
The Radicals, however, must Crawley, Sussex, yesterday.
Britain could look Germany in be retained as the nucleus, as the face without any blush or they are the largest party in. apology, he said.
Parlament
The Times expresses the opin- on that a "managed currency"
The nations of the world must The voting on the tax proposals cannot be reconciled with the res-develop the spirit of neighbourli was 329 against 241, M. Daladier toration of the gold standard or
There could be no settle-resigning. with the sound currency or a rement in Europe until every na- Įvalued dollar.
tion can sit around the The
table on terms of equality.
PRAISE AND CRITICISM
Washington, To-day.
Morning Part declares an apparently stable Legal authorities here doubt the that even
price level is no guarantee of
market. They discussed the possi-United States Government's auhealthy underlying conditions, ble date for the R. F. C. starting thority to buy gold other than at purchases, and also what price was
the value set by the Gold Standard
ness,
BANC
Germany. he asserted, must make it possible for other nations to lie alongside her without having fear roused in their hearts and distrust reflected in their arms.
A tax on salaries and pen- sions or the overthrow of the Government was the bold challenge M. Daladier had to face, but the next "Govern- ment will come up against the same obstacles. ·· Despite the hour, the Ministers drove to the Elysee to resign.
Possible successors to M. Britain would adopt the mea-Daladier are M. Albert Sarraut sures which she considered best and M. Chautemaps, both of and sell new gold at world prices, informed circles to believe that
The Financial Times states "to fitted to secure results.
"Cer- whom
are Radicals, and M. keeping its acquisitions as assets. the Administration will
United Press, Per S. C. Gold all other means possible to bolster say that the United States is mov-tainly one of those methods is not Caillaux, President of the Fin-
commodity prices before resorting ing towards a managed currency to run away ourselves," he said- ance Commission.
that such a currency will be sound
payable for newly-mined gold.
It is reported, but not yet con-Act of 1900. firmed, that the R.F.C. will buy
New Delhi, To-day. For the first time since the beginning of the Indo- Japanese colton negotia- tions, optimism has been aroused in consequence of the Japanese approving the principle of barter. Details of the scheme have not Bar Co. vel been worked out, but the Indian Government would permit in specified amount of imported British Government stocks were Japanese piece goods against firm, with War Loan 3% per cent the Japanese purchase of speci- at 101. Home rails were steady. fed quantity of Indian raw cot while foreign rails improved.
check
the
Kars finished higher on day international stocks, especial- ly nickels, closed firmer.-British Wireless Service.
LONDON DOCTOR DROPS DEAD
While Addressing Medical Society.
London, Today, Dr. Donald John Armour drop. ped dead when finishing an ad- dress to a meeting of the Medi- cal Society, London, last night; -Beuter.
(Continued on" Page 4)
U.S. DESTROYERS ARRIVE.
ton.
India, it is reported, pro- poses 300,000,000 yards of cloth against 1,300,000 hales, of of cotton. On the other haud, Japan suggests that India take last year's figure of 578,000,000 yards of cloth.
IMMEDIATE BUYING
OF GOLD.
To Free Dollar From European Influence.
Washington, To-day,
ал
The President's speech has led
also use
"If America follows Presl- dent Roosevelt's course this generation is not likely to see the restoration of a uniform International standard the ́pa- per adds."
to direct inflation.
The President's managed cur-and that the dollar will be
valued after the restoration of rency is expected to be based on price levele, carries no conviction." the re-establishment of prices, In -Reuter.
this event, debts would be payable|
in a dollar of the same value when contracted,
48
The President indicates that the establishment of this leyel will re- From trustworthy sources it is quire from one to three years.
Wall Street is puzzled and divid- announced that the United States. Government is expected to begin the ed in opinion regarding to Pre- sident's plan purchase and sell purchase of newly-mined gold,
The scheme in regarded, an President Roosevelt foreshadowed gold.
almost
Immediately. unprecedented.
Bome declare that the plan in disheartening and fear that affect confidence. it will Officials believe that the ef-
Others think that it might be fect of the scheme is calculat
a good thing. Various economists have Inter- They also believe that it will re-preted it as an attempt to control sult in cheapening the dollar'
As regards other industries, yesterday, India has offered to place Japan The price will probably be above the en an equal footing with other London and Paris market prices. countries by the adoption of p specified duty which, however, would be increased in the event] of any further depreciation in
Reuter. the value of the yen.
·
LIMITING RUBBER SUPPLY.
Dutch And British Growers To Meet.
ed to free the dollar from European influence,
SHANGHAI CANTON AIR SERVICE,
First Mail Due In Canton To-day.
(Continued on Page 4).
DISARMAMENT CONFERENCE.
Sir John Simon Unable | To Attend This Week.
London, To-day.
In view of the weekly Cabinet meeting, which will be held to- morrow as usual, and at which the business of the forthcoming Par-
be dis llamentary session will
The Senate foreign policy is practically to be certain be the sama, Reuter.
The Daladier Cabinet, which succeeded the 40-day old, Boncour. Cabinet on January 29, WAS
virtually all-Radical. M. Daludier constituted himself an Minister
for, War, other appointments he Ing:
M. Bonnet, Hinister for Finance, M.' Paul
for Boncoor, Minlater Foreign Affairs,
M. Chaulamps, Minister for the Interior:
M. Lamoureux, Budget Minister.
Canton, To-day. Canton is advised by Shanghai cussed, the Foreign Secretary, Bir that the Shanghai-Canton air ser- John Simon, will be unable to at- BUDGET TAXATION PROPOSALS vice will be inaugurated by, the tend the meetings of the Bureau China Aviation Company's plane and General Commission of the Disarmament. Conference at this morning,
CAUSE" DOWNFALL
Paris, Earler,
The plane, which will carry Geneva to-morrow and on Thurs The French Government has been mails and newspapers only, is day.
Captain Anthony financial proposals to deal with the as the general price level and also scheduled to start for Canton from The Under Secretary for For defeated by about 38 votes on the
Shanghai at 6.05 this morning, eign Affairs, compared with sterling, and francs, the dollar in foreign exchange Barring any untoward incident, Eden, will go in his stead-British Budget deficit of 6,000,000,000 and that it will increase the world through the purchase and selling she is excepted to reach her des Wireless Service. price of gold because 25,000 or of gold abroad.
tination this afternoonCentral
80,000 ounces hitherto shipped out Some bankers doubt that any News Agency.
weekly, would remain in the United States-Reuter,
London, To-day. SMALL SHOP OWNERS EXEMPT
FROM CODE "A meeting of the British and
Washington, To-day.
changes in currencies, and gold value will affect the general price level as directly as intended, Many bankers are opposed to managed currency as a permanent monetary policy,
Observers believe it possible that
embargo on the export mined gold. In that event, miners will be required to self construction Financa, Corpor
world pricas: 'presumably.
The French Sloop Savorgnan de Brazza arrived in Hong Kong this Dutch rubber representatives, to morning from Saigon, discuss restriction, is confidently
The U.S. Destroyer Tender Black expected, in the rubber market, to Prealdent Roosevelt kas signed the the new policy may reunit in an Hawk and the US. Destroyers Par-be held in London on Thursday, Retail Code, which becomes effective rott, Paul Jones, Pillsbury, Bulmer, Growers and representatives are on October 80. Stewart, Smith Thompson and Ed-most Reticent, but it is rumoured Small shop owners in towns with sall also arrived in port to-day from that representatives of the French a population not exceeding
Growers will also attend Router. are exempt-Reu Shanghai..
Special Cabinet Meeting
francs.
The Chamber of Deputies sat une til the early hours of this morning, but the Radicals and the Socialiste were unable to reach a compromise London, To-day satisfactory to the conflicting de- The special meeting of the Hoover Cabinet yesterday afternoon last Ceed one-and-a-half hours,
MR.
DOAK DEAD
İmanda?
The financial proposals, on
It is understood that foreign which "the life of the Daladier Cabinet was slaked, provided for New York, Today, 1 affairs, with particular reference
|« special, levy of six per cant, on 1 Announced of Mr, to the disarmament situation, pro- the salaries of civil servants and Secretary for Labour | vided the main subject for con- over Administration sideration.-British Wireless Ser
Vice
on private incomes.
(Continued on Pagunde)