THE CHINA MAIL, FRIDAY, AUGUST 10, 1934.
1934-5 FOOTBALL SEASON WILL OPEN IN SCOTLAND TO-MORROW
LONDON STOCK SILVER SPECULATORS
MARKET
Good Tone Prevails.
London, To-day.
The London stock market gener- ally closed last night with a good tone,
E
DRIVEN OUT
LEGITIMATE BROKERS
CAN CARRY ON
MILD INFLATION SEEN
SPECIAL TO CHINA MAIL
!## Telegraph, Copyright, Telegraphic Messageș Ordinance, 1894,
Received August 10, 9.14 a.m.)
WASHINGTON, TO-DAY.
British funds maintained a firm front with war loans at 3% per cent at 104. Brazilian bonda re- gistered appréciable gains on re- cent messages, indicating an im- provement in the coffee position,
THE TREASURY HAS ANNOUNCED THAT THE 50 PER whilst South American Railways CENT. TAX PROFITS ON SILVER TRANSACTIONS IS INAP- finished firm. following the rise in PLICABLE TO METAL TURNED OVER TO THE MINT. grain' value.
Mr. Morgenthau said that the Treasury would issue new South African mines made head-currency on a cost basis against silver acquired via nationalisation way, whilst West Africans closed which he termed "the rehabilitation of silver."
good. Industrial shares mostly left off a trifle under their best points.--British Wireless Service.
NEW YORK STOCK
EXCHANGE
S. E. Levy And Co. And A.O.F.C. Quotations.
WORTH OF NEW SILVER NOTES IF THE 200,000,000 AVAILABLE HE EXPLAINED THAT HE MEANT TO ISSUE U.8.8100,000,000 OUNCES WERE SEIZED AT 30.01 CENTS PER OUNCE ALTHOUGH FOREIGN SILVER WAS FREE. FROM NATIONALISATION AND THEREFORE ENJOYS A FREE MARKET IN THE UNITED STATES,
SUCH A STEP COULD BE TAKEN LATER IF NECESSARY, HE SAID.
Mr. Morgenthau said that hel believed that legitimate silver brokers would be able to continue their activities. despite nationali- sation, but speculators would un-
doubtedly be driven out..
No Immediate Effect
In Nevada.
Reno, To-day.
INTERPORT CRICKET FIXED
FOR EARLY OCTOBER
Hong Kong Accept Shanghai Invitation And Now Seck Players
The Hong Kong Cricket Club have accepted an invitation from the Shanghai Cricket Club to send an Interport eleven to the northern city during the first week in October.
Letters have now been sent lo likely candidates asking whether they will be available if re- quired.
Eric Mitchell's eleven won the. last match in Shanghai in 1982 -by 42 runs.
SHANGHAI BEAT TIENTSIN
Results were:
ro-day's Short Story.
SUTOR
By Albert Richard Wetjen.
E drew himself up out of the ders, at the bunches of kelp and ITTE
.cold surf and sank exhaust- other weeds.
ed to the shingle. He was sick It seemed incredible he should be for a long time and it seemed there. Alone, too. Wasn't he that every atom of his body had Sutor? He had power. He had its own peculiar pain. His hands had power ever since Old Man Sutor were bloody from the rocks; his had died; since the old man had akin burning from the pounding left him everything. He had once of the salt sea. All about him brought a famous tenor from across there were swirling white mists, the world just to sing for a giri he'd clammy and fearful.
scross
10 MATCHES ON CARD
DUNFERMLINÉ
MEETS RANGERS
IN THEIR DEBUT
ALBION MAY UPSET DUNDEE.
MOTHERWELL'S BIG TASK
The 1934-5 Scottish Football been crazy about! Humphi Ho League season commences to-mor- The wind whined
the had wrecked more than one man he row with the full complement of water. Spatters of rain came and cause of a whim, hadn't he? Well, ten First Division fixtures down went, and over all there was the at least if he hadn't his managers for decision. ceaseless boom-ba-room-boom of the had at his order. He had sometimes
►
Dunfermline Athletic, who are
combers on the uzly reefa, followed had a vague idea that no one really making their debut in the First as always by the swish-swish of the thought much of him, but what did Division, are unlucky to be pitted aurf subsiding.
he care? They didn't care tell him (aganist the Rangers, who won How he had reached the shore so. Three Matches Secured alive he did not know, and for the
He was Sutor, wasn't he. the championship and the Cup He stared at the swirling mists; last season, in their firet match. To Northerners' One. while he did not care. He remem- he listened to the whime of the A close contest is expected bered he had been standing on the wind, the untamed roar of the sea. between Motherwell, runners-up Tientsia, August 5.
steamer's after deck, warm and dry the whisper of rain on the cold wet last season. and Queen of the Shanghai won the Taggart Cup
Inside his greatcoat, while he watch shingle. He surveyed the dim South, who, were placed third. in the Interport Lawn Tennised the roaring sullen gray of the slopes of the cliffs, the eerie birds. Albion Rovers, whose play in encounter against Tientsin here to-
wake tossing up and down.
the dull gray crabs, and something the F.A. Cup last season was suf Asked if he planned further silver
The nationalisation of silver day, winning the third of the four than once ho'd better be careful; so
The captain had warned him more whimpered inside him.
ficiently outstanding to ensure changes he replied:
will not have any immediate efsnatches,
He shouldn't be there. And he their promotion from the Second "The Treasury still finds its con.ffect on the Nevada silver-mining
had the ateward. But he was not wouldn't be there long. He was Division, are likely to extend D. Rumjaha (Tientsin) beat
accustomed to taking advice. · He sure of that. Venient to operate on a day to day industry in the opinion of opera-
The captain would Dundee, who were not conspicu- basis."
lors here, as the price is fixed Cheng 6-0, 6-2, 6-2,
was Sutor, wasn't he? Owned the turn the boat back at once to look ously successful last year, being "Asked if the new currency fore- lower than that established for heat C.;W. L. Way and Y. Ruwahara a railroad and two sawmills. Worth spent, a million if necessary.
G. Lum and G. Cheng (Shanghai) ship and a dozen like her. Owned for him. There'd be thousands placed well down in the league shadowed inflation. he replied: "newly-mined silver under the pro- 6-0, 6-4, 6-3.
Hé table. would like to see a book written on clamation of December last.
L. D. Carson (Shanghai) beat a good many millions. He'd always was an important man. Everyone The following are to-morrow's What is Inflation":"
No stocks of silver bullion are Theuerkauf 6-4, 3-6, 6-3, 6-2.
had his own way, even about stand- knew that.' PROGRAMME ALL READY held at Nevada at present as far M. Bebavitch--and L. D. Carson log on the after deck of a ship with He stood drooped, shivering. It is learned that the nationalisa-jas is known.
(Shanghai) beat CA. L. Rumjahn a gale roaring astern of her and Just the same he'd have to make the tion programme had been ready for The Secretary of the Nevada and O. Rumjahn 9-7, 9-7, 2-6, 7-5.
the sea difting almost funnel high. best of it for a few hours. He was several days. Mr. Morgenthau aud-Miau Operators' Association, in an
thirsty, very thirsty. And he was 1.150 denly deciding to make it effective interview with Reuter, said that that silver already en route to the
very tired. He did not ever remem- when silver touched 49.5 cents per the President's proclamation gave United States, prior to the procla-
her having been very thirsty before. | ounce yesterday. He telephoned to silver the executive recognition mation, will be considered as free
But this time there was no one to President Roosevelt at Green Bay for which the silver mines had silver.
bring him liquor, There was no use crooking a finger.
New York, Yesterday. The following quotations from New York have been received by Messrs. S. E. Lezy and the American Oriental Finance Corporation.
N.Y./London
13.79 13,71
40.55 40,56
Last Close Opening Now 5.05% 5.04% 6.05
Cotton Oct.
13.61 13.02 13,00
Dec.
13.80
Silver Sept
40.00
Silk Dec....
Dec.**
40.36
1.14
Rubber Sept.
15.55
Dec.
15.90
16.55 15,95
C. Wheat
Sept.109
Dec.
111%
100% 111%
C. Corn Sept. 74%
76%
Dec, ...... 794
88
W. Wheat Oct. 95%
93%
STOCKS:-
Anne Copper. 11
and the latter released the pro- been fighting. clamation.
The Treasury said that rulings an the question of short sales and future trading would be forthcoming In a few days. Attention was call
80 CENTS PER OZ. HOPED Nevada operators are hoping for stabilisation at a price of 80 cents per ounce, or more, which
G.
TO-MORROW'S STORY
To-morrow's story will he "Air Crash," by Lawrence
G. Green.
He hadn't thought there was any silver real danger. Not until he saw that
fixtures:--
Airdrie v. Queen's Park, Ayr v. Clyde.
Cellie v. Gilmarnock. Dundee v. Albion. Dunfermline v. Rangers. Falkirk. Hearts. Hibernians v. Hamilton A. Motherwell. Queen O' South, Partick v. Aberdeen. St Mirren v. Johnstone.
He moved disconsolately, swearing 5,000,000 DWELLINGS SHORT- up the shingle, aimlessly. Present- ly the shingle gave way to damp yellow sand. and finally her brought tary of Commerce; Mr. Dantel C Washington, to-day-The Secre- up short against a wall of rock, high Roper, has reported a shortage of
Nationalisation
gives the Government the same control of silver as of gold. The proclamation exempts, First- they declare is necessary for the ly, foreign and domestic profitable operation of large low-coins; and secondly, silver of a one big comber coming, rising high and ragged. There were a few 5,000,000 dwellings in the United alisation was not effective for three grade properties, the exploitation fineness of 8 or less, which is not er and higher, sleek and marbled tufts of coarse grass. growing (States, while many millions of. months, therefore, speculators would of which is now dormant, and to entered for industrial, commercial, with green, the top drawn against miraculously in the crevices. The
warrant the inception of develop
ed, however, to the fact that nation
The proclamation orders that sil-
Company
are needing repairs—
Amer Smelt
35 354
35%
11%%
11%
Auburn
..... 19
10
19
Balt & Ohio, 15%
14%
J. I. Case ... 38%
.5944
39%%
be able to make necessary purchases,
Con Gas N.Y, 28
2714
ment work-Reuter.
use.
SILVER TO BE COINED.
Du Pont
.... 87%
87%
854
PRODUCTION EFFECT
El Bo & Sh
11/4
10%
Gen Motors.. 28%
28%%
27%
ver delivered to the mints shall be
Int Tel & Tel. 0%
04
9%
McIntyre
49
481⁄2
Mont Ward 214
21%
21
Nat Distill.. 18%
18%
18%
N.Y. Central
21 20%
20%
professional, artistic or monetary the sky like a tight line. He had sea birds increased in number, United Pressipur S. E. Levy and stared at it for just one second too whirled about him, screaming. He The proclamation also exempte long. He should have jumped for saw a few nests, high up: ailver ore, silver owned by foreign the companion out of the way; but
He turned to his right and follow- Silver producers say that nation-government and foreign central he hadn't. coined into standard dollare or other-alisation will not affect or improve banks, and silver fabricated arti
ed the wall of rock. There had been a fearful crash, caves at intervals, gloomy looking There were wise added to the nation's monetary production for years to come. They eles-United Press, per S. E. Levy and then water everywhere, tossing places in the mist. He heard water stocks. The monetary value of such anticipate no change in the present and Company. delivered silver will be U.S.$1.29.20 comparatively inactive situation un-
Soc-Vacuum- 13%
13
13%
per ounce.
Stan Oil N.J.. 43 Un Aircraft. 15% U.S. Steel ..34%
42%
154
15%
Check On All Foreign Transactions.
33%
West E&M.. 31
31
804
London Prices.
The following quotations
less the price of newly-mined silver The Treasury estimates that there exceeds 64.5 cents
per ounce←-
Is between 150,000,000 and 200,000,- United Press, per S. E. Levy and 1000 ounces of silver in the United Company.
States at present, of which 45,000,-* 000 ounces is in recognised silver ex- from change depositories.
London were received last night be-i It is emphasised that newly-
tween 5.30 p.m. and 10.30 p.m.
Silver:-
64.5
mined silver is exempt with the Silver Spot 20-15/16 (last close), Treasury continuing to pay 21-7/16 (last record), 1/2d up (change), cents per ounce.
Silver Forward 21 (last clone), 2--7/18 (last record), 7/164 up (change).
The Proclamation.
SPECIAL TO CHINA HAIL.
New York, To-day. Early reports attributed the rise in the price of silver to Govern- ment buying.
STOCK EXCHANGE SEAT RISE
New York, to-day.-A Cotten Ex- him about, over his head. half
at last and discovered a small trickle change seat was sold yesterday for drowning him. The lifting ship gliding down the face of the rock U.S. $17,500, as against U.S.$15,- had cleared then and the water with green mose beside it. He 500 for the previous seat.-United roared back, allcking him through tasted it, cautious, and then drank. Press, per S. E. Levy and Com- the rails as easily as if he had been
(Continued on Page 10)
a fragment of rope yarn or^a chip of cork.
་
About the only accomplishment he possessed was that of swimming SPECIAL TO CHINA MAIL.
and he had swum instinctively and Washington, To-day.
furiously. He had for once exerted The proclamation authorizes-Mr-Henry Morgenthau-yeater himself. It had all but killed him to the mints to seize all the silver day ordered consular invoices on CURRENCY SYSTEM in the United States on August silver imports above U.S.8100, get out of his greatcoat, but he Financial circles attribute the 9. The mints have been directed thus giving the Treasury a means managed it; then luck had flung Silver Report:-Advance chiefy due what President Roosevelt termed the other expenses 61.8-26 per cent. tions.-United Press,
move to an important step toward to deduct for seigniorage and of checking all foreign transac-against him a cork lifebuoy which to American buying. China banka Bold. Supplies were scare.. Market organisation of a currency system of the silver received and to ra-Levy and Company. steady.
that will be sound and adequate and turn to depositors the mount Gold-188/0% (last close), 188/1 which contemplates a large issuance equal to the monetary value of (last record), 1/2d (change).
London/New York Rate 6.06-5/8 of currency.
(last close), 5,04-11/16 (last record), The nationalisation aims to pre 15/16d down (change).
Liverpool Cotton-Oct.
the balance.
are
per 5. E.
:
SHARP IMPETUS TO US. BUSINESS
(Continued from Page 1)
the water had lifted from its rest against the rail of the steamer and sent adrift, and he had clung to it, Hfting and falling mightly on the sullen waves.
When his eyes were finally clear Payments will be made in stan- vent possible sales by domestic}dard silver dollars, silver certif-
of spray and he could look around, 7.14 (last sources in foreign markets should cates, or other United States cur-
the ship had disappeared, lost in the close), 7.19 (last record), .05
now produced with cheap swirling mists. He didn't remem ap prices exceed 50 cents per ounce, rency (change).
silver and are now being marketed ber much after that, except that Liverpool Wheat-Oct. 8/8 (last which would take the situation out DOMESTIC AND FREE SILVER on a level which Americans can-currents tugged at him and in an close), 6/3-7/8 (last record), 7/8d up of the Treasury's hands, as the (change).
The Treasury Secretary, Mr. not meet. This will result in effort to keep warm he threshed his Treasury is only empowered to pay Henry Morgenthau, states that Americans again recapturing valu- legs and arms about. And then he domestic silver mined since De-able foreign markets giving busi- had suddenly been in the surf, bang cember 21, 1988, may still be deli-ness at home a sharp impetused here and thore, scraped against Senator Thomas, of Oklahama,vered to the mints under the pro- United Press, per S. E. Levy and rocks, escaping death by a miracle (last close), 7-11/6 (last record), 1/16 halled the move as "very necessary clamation of that date. He states Company.
to carry out the policy of Congress.
London Rubber-Oct.Dec. 7-9/16 (last close), 7-8/16 (last record) un- changed.
London Rubber-Oct.-Dec. 7-5/8
up (change),
Market Forecast
A forecast from London on probable trend of the New York
the
50 cents per ounce.
MOVE ACCLAIMED
He believes that it will have a far- mar-reaching effect and be of vast assis- tance "in adjusting our monetary Owing to inflationist theory, coop policy to regulate the dollar's buy-
kets states:-
a
Many Present At Funeral of
to be flung into the creamy shallows all hut unconscious and utterly ex- bausted.
He groaned and sat up after a while, shivering in the damp mist
Mr. Lam Chik Min In Canton and the chill, wind. The shingle
led with the fact that stocks have noting power." yet reflected the strength of com modities, we
Senator Fletcher believes that
was iron hard beneath him. Crabs expect Wall Street to
nationalisation will cause open armer,
[From Our Own Correspondent] mila
Because of his long association scuttled away as he moved, their On the commodity markets, higher currency expansion. "I believe that
Canton, To-day. with the Kuomintang founder, Mr. stalky eyes blank. A few gulls wheat prices are anticipated; erratke the action is helpful and will result Canton military and civilian Lam was given various government drifted above, crying eerily and mevements in the cotton market are in Increased prices of stocks and officials turned out in full force asd Party offices in Canton. Among swerving at the sight of him. He anticipated, but we expect ultimately higher prices,
commodities," he declares-United this morning to pay their last the positions he held were mem-got to his knees, and then weakly to The rubber market is expected to Press, per S. E. Levy and Company, respects to the late Mr. Lam Chik-ber of South-west Politics! Coun- his feet. There was nothing but min reserve member of the cil, Kuomintang South-west Execu-mist and desolation. On either side DEFLATIONARY EFFECT FEARED Kuomintang Central Supervisory tive Committee, Kwangtung Pro-the rocky walls of cliffs rose up and
BY MANY.
Committee, who died yesterday at cincial. Kuomintang, and the were lost in the sky.. his home, No. 7 Model Village, Kwangtung Board of River Con- He was in a pocket, my God-a (Continued from Page 1).
Tungshan. He was 46 years old, servancy.
Bort of cove with shingle runnin Inflicted with phthisis for some Being a good classical scholar far back until the mist hid It H He declared that the decision of years, the late Mr. Lam was an and an elegant penman, Mr. Lam did not know what to do
open quiet.
ANTICIPATED CHANGES IN
THE REICH CABINET
(Continued from Page KREEKAPALLET, Bhigh 242) * the United States of the widen General Goering is the likellest use of silver as money will cause sen candidate, as the appointment of other nations to adopt a similar General von Blomberg would as policy to meet the 75-25 ratio set sociate the Reichswehr too close by Congress, he said.✨
ly with politics and the return -- He added that the order, was of Herr Hugenberg would be re, declaration that there was not en garded by many Hitlerites "as an ough gold in the world to open triumph for the Right its demands for:
Ving Renter
return to^3{}{}¢
Rente
(supporter of ?Dr, Soniyat, mau, the
ecame his confidential for the Kuomintang hen he was generalis« Executive Committee ***
Kuomintang force, intimate friend
Gusted from leaders,
Lam: accom2 ruin
ung
Chung: Shan.
He
red at the great hous dotted the Bhingle, at the Elear the tide had left between the boul
Chiang Kai-shek, Chairman of the Military Affairs. Commission, and wel President of
(ths:
him in drafting docu-
sendor
ived and -two daughters.
widow, three
pany.
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a scientific food-concentrate of high nutritive value
Cocomalt
DELICIOUS HOT OR COLD
(@comalt)
TONIGHT
SLEEP
To-night at bedtime heat a cup of
Cocomalt
Drink it just before you turn out
your light. You'll sleep.
Obtainable from
THE ASIA COY.
43, Des Voeux, Road, C.
GROCERIES.