༈
COMMODITY
STRENGTH
CONTINUES
STEADY UNDERTONE! ON MARKET,
NARROW MOVEMENTS
Favourable factors on Wall Street yesterday were President Roosevelt's declaration that the Administration intends no injury to honest business, and continued strength of commodities. Unfa- vourable factors were the weak- mess of the dollar on silver news, and the continued uncertainty of the Autumn business, outlook.
states
to a special message Messrs. S. E. Levy and Co.
Yesterday's advance, attruct- ed profit-taking here and there, but the movements were mostly narrow. The undertone was fair- ly steady and narrow and inde-i cisive movements seem indicat- ed.
S. E. Levy And Company's Report
In their market report, Messrs.
S. E. Levy and Company, corres- pondents for Messrs. White, Weld and Company, New York state:
"Stocks:There Was no
new
buying to-day, nor were there any inflationary
day's silver
indientions. Yester-
announcement was
cent.
THE CHINA MAIL, SATURDAY, AUGUST 11, 1934.
French Diva And German Fiance.
Lily Pons, famed on three conti- nents as an operatic soprano, is going to wed this ship's doctor, Fritz von der Becke, whom she met on one of her trips.across the Atlantic. The photo was taken at Buenos Aires,
German Debts Payments
(Continued from Page 1)
To-day's Short Story.
AIR CRASH
DONOVA
By Lawrence G. Green.
ONOVAN was a survivor of licacy of touch that was revealed the old flying days. One of in every movement of his 'plane. those old birds who could remem-
*
*
ber when only men. rode the sky in Ten thousand hours in the air, box-kite contraptions, and later thought Donovan, and now he was fought above the dark clouds of as helpless as any heavy-handed death.
beginner. The weather reports Night "Happy landing, sir," his me had not mentioned fog. chanic had shouted as the great after night-he had waited for that trl-motor monoplane warmed uplessential right combination of: for the African flight. An old Fly-moon, visibility, and harmattan ing Corps farewell. They had wind which would guide and rush been in France together, and evi. him down the long West African dently this attack on the non-stop coast in record time. The stretch the Gulf of record to the Cape had seemed to of open sea across the mechanic deserving of the Guinea he had chosen deliberately same pious wish ag a dawn patrol to take. Working out the chances, on the Western Front
he had seen no. good reason Well, the mechanic had been lengthen the route, as others had right. Often enough Donovan had done, by following the shore. jknown fear; but always until now Four hundred miles in six thou- there had been some. loophole sand-there were air liners with! through which a man of his experi-passengers cutting corners like ence, keyed up to genius by the that every day of the year. emergency, could find a way to Bafety. This time nothing but luck could eave him,
tore
MONDAY'S STORY
Monday's story will be "Murder In The Garden," by Allan Ross MacDougall.
to
So, with his three motors still
Donovan did not gladly rely on luck. That was why he had al- relates only to debts falling due ways pulled his Camels out of either too mild or too insufficient the beneficiaries with the sterling after August 20. It has not been! those terrible righthand spina be- to off-set the continuing business!
fore the ground came up. to smash uncertainty or to attract further proceeds, lean a charge of per possible to include provisions for the him. He had taken the trouble to
settlement of exciting debts owing learn the trick. Other men purchasers. We still believe that
The agreement has been drawn up to British exporters to Germany, the wings off their fighting scouts playing the sweetest tune a pilot selected metal, pucking and oil
on the same lines as a number of which, on account of cotton yarn stocks are in the buying zone, but other agreements, concluded be-exports from Lancashire alone, are in the days when designers gave can hear, Donovan had left the we would continue purchases on tween Germany and other countries. belleved to amount to about £500, speed, not strength-but Donovan Sahara and the steamy. Nigerian period of weakness only. Business
It has been made clear, as the re- 000,
knew what a Delphin or a Snipe coast astern, heading out boldly done: 770,000 shares.
sult of a discussion on the matter This aspect of the problem still would stand in a dive, and smooth- over the slow waters for the point "Bonda: -High-grades were
in Berlin, that any debt in respect awaits further negotiation. ed out the breaking angle.
where the mahogany forests of weak on heavy offerings. The mar of which payments
made however, the new agreement results,
No, there was not a reckless lina French Equatorial Africa each ket for second-grades was easier. through the special account con- in the resumption of the trade that in the anxious face that now gazed the sea.
"Cotton:-Rains in Central and stituted under such agreement, is is hoped far, settlement of the out into the fog across the instrument Less than half-way across the South-Eastern Texas eaused) Southern selling and speculative actual proceeds of the sale of the facilitated. British Wireless Ser-scanned the fog again without finding vapour had seeped into the discharged only to the extent of the standing debts will obviously be board, with its turn and bubble in-fog had come up white and menac- dicators for blind flying, and then ing. Possibly the cold, penetrat- liquidation. A little trade buying Reichsmarks paid in by the debtor. vice. was noticeable. An important spot LIMITED UTILISATION, house is reported to be a large Article III of the agreement pro- buyer of near positions. The vides that the special account may
factor on the market.
aro
duced or manufactured in the United:
SUPPLY
If,
OVER 800 MILLION GALLONS INCREASE.
ing a break. Donovan, with his ignition system; it was a sudden sun-tanned, wind-roughened skin change after the heat and sand- and level grey eyes, might have storms of the desert. At all events been a careful master mariner, the song of the three motors was
ferent. Experts could tell when was broken by coughs and wheezes Donovan was aloft at the controls that threatened complete stoppage, he flew with an effortless de- The great monoplane felt it. Donovan, in tune with his ship, sensed the breaking of the har- mony. He could fy. with a twoj| motors; he could stay aloft for some time, losing height gradually, with only one. But he could not take Africa in bla stride and break the record.
"Gro-o-omph!"
U.S. DOLLARS WEAK IN
LONDON MARKET (Continued. From Page 1) `·.
weather is still the dominating be utilised in respect of goods pro: COLONY'S WATER Only the sensitive hands were dif- no longer a rhythmic chorus. It
"Rabber:There Was consi- Kingdom, or of goods which have derable amount of profit-taking, been processed in the United King- which action we continue to re- dom.
A limited utilisation of the commend for the time being. a special account is provided in ros- buyers appear to be hesitant. Buspect of, firstly, goods other than the iness done:-648 lots.
United Kingdom goods described in "Grains:-The Government es-Article III, if it la proved that the timate was slightly larger than German buyor of these goods had
The Colony's water storage on the Trade had expected, out this purchased like goods before January August 1, as contained in the did not take into consideration the 1, 1939, through a firm established Jaland and Kowloon reservoirs, damage, done to the crop since in the United Kingdom, regularly totalled approximately 8,016 million The tone generally in the the report was compiled. The and in apprectacle quantities, and, gallons an increase of over 800 kets condition of the Canadian wheat secondly, goods produced or manu- million gallons, as compared with made further -advances. Home The starboard motor cut out. A crop is 53 per cent of normal. factured in any British Colony or the same period last year. which is about as expected. The overseas territory, any territory
The Island reservoirs showed a wages
ralls recovered on the news of a split second later, and Donovan settlement and several was diving through the white action of all the commodity mar-under British protection, or
storage of 2,359 million gallons, as home Industriale improved. апу
Gold blanket in an effort to bring life kets to-day indicates less infla-mandated territory in respect of compared with 1,605 million gallons mining shares were in demand-back to the dead-weight with the tionary interpretation of yeater which the mandate is exercised by in August last year. On the main-British Wireless Service. fuseless propeller out there on the day's silver proclamation. Thurs- the Government of the United King-land a total of 657 million gallons A London Message received at 3 wing, day's sales:-76.435,000 bushels. dom.
were in storage, as against 609 o'clock last night by Mesars, S. ESpeed, more speed it was all a "Silver: The Exchange ruled EXISTING DEBTS UNCOVERED. million gallons on August 1, 1988. Levy and Company states that lone hand could do, and it failed; late to-day that all silver contracts} It will be observed that the above
were liquidatable immediately on Anglo-German exchange Agreement
a basis of 49.96 for all positions.
"Night Telegrams“
The following telegrams from
Personal Pars
was Arm. British
mar-
funds
after a little bear covering there No use losing too much height with | was renewed offering of dollars: the invisiblé ocean waiting for him The Rubber Market was firm in below. Donovan checked her, flow sympathy with America. The boy straight on by compass and danc- ing price at noon was 7 11/16. Thefing bubble. Half-way now-but
New York, cabled by Reuter, were prompted professional selling and Mrs. James MacKay, wife of the Silver Market was very uncertain. the fog stretched out everywhere received last night:
liquidation. Liverpool, the Con- M.G.M. film director, left for Los It was reported that China was a impenetrable, in a breathless Favourable factors before the finent and the Trade bought on ajAngeles yesterday оп the 8. heavy seller and India amall buy world that promised more trouble. opening of the market:
moderate seale. The drought situa-Chichibu Maru. President Roosevelt's declaration)tion in the West, has not been re that the Administration Intends Ileved.
Unfavourable factors were:-
··
er.
•
than a shrieking "gale.
Donovan remembered a Mediter- ranean fog when he was flying air CHINA HEAVY SELLER. mail-the wireless brought him in London silver comment received that time, and his passengers had here by Messrs. S. E. Levy and never thought of danger. Engine Company, at 10 o'clock last night fallure he had known too; but he states that China was` a heavy had always but his machines down seller. Speculators bought. Ameri-lightly in the best possible spot, ca bought silver.
even in a forest, without killing anyone,
The London on New York croBS- Mr. E. S. C. Dunlop, accompanied rate at noon was £U.3.85.09%. no injury to honest business and "Silver: The Commodity Ex-by Mrs. Dunlop, were yesterday the continued strength of commo- change announces that all outstand. passengers on the 6.6. Chichibu dities.
ing contracts of silver are to be Maru, bound for Yokohama, settled and liquidated as of August The weakness of the Dollar on 9 at 49.96 cents per ounce, irrespec- Mr. A. M. de L. Soares returned the news of the nationalization of tive of delivery montha.
to the Colony yesterday by the s.a. silver and continued uncertainty "United States steel shipments in President Grant. regarding the Autumn business July totalled 889,938 tons as com outlook.
pared with 615,999 tons.
Among the passengers on board; BOLSTERING OF DOLLAR IS Yesterday's advance attracted "The income of the Western the R.M.S. Empress of Asia which profit-taking here and there, but Union for the past six months left here yesterday for Shanghai EXPECTED ON WALL STREET movements were mostly narrow totalled $1,311,000 against $2,645,- was Miss Chen Mel-yau, daughter New York, To-day-Thursday's The undertone is fairly steady and 000 for the corresponding period of of the late Gen. Chen Chiung-ming, trading in United States Govern- narrow and indecisive movements last year.
who is bound for Hankow, where ment bonds was the highest since scem indicated.
"The Annalyst Index of Business Ahe will resume her duties as 8 Activity: 79.8, compared with 79.8 teacher in music and Engilsh at the 1920, Wall Street believing that the Germany, for they had lost their
Automobile St Mary School.
E. A. Pierce Co.'s Report
In their market report, the the previous week. American Oriental Finance Cor output in the U.S.A. during the poration, correspondents for Messrs past week amounted to 58,854 units. E. A. Pierce and Company, New Money in circulation has increased York, state:
by $19,000,000."
CHEVROLET REACH HIGH MARK SINCE 1929.
BASE OF HUGE, POTENTIAL CREDIT INFLATION
With a good man to take over the
Controls now, he would have gone
out wing-walking to find the fault and nurse the silent, motor on the
In France once (or possibly over
starboard wing..
reckoning)" Donovan had scrawled Treasury supported the market,
Wall Street expects a similar out on a bomber's wing to put out bolstering of the dollar United a fire; the other engine brought them back over the lines. Here Press, per S. E. Levy and Company:
even a desperate attempt to remedy the defect in mid-air was impossi- "Stocks: The belief that early in Messrs, E. A Pierce & Co.'s re-
ble." "Lone" Donovan they called fiation is inevitable was apparently port on the opening of the market;
him wharefying men gathered." too hasty. There was some profit. "The President's speech is dis New York, to-day. The
He had down with crews, but on taking and no follow through on the couraging to the industrial area in Chevrolet motor car
New York, To-day. The excess of long-distance work record-breaking buying side.
the East
produced 92,947 units in July, member bank reserves a new record work, he preferred to fly alone. "Grain: The Government report
"Silver: The Government's aution the largest July output since high figure of U.S.$1,950,000,000 re- And this was the price of loneli- was about as expected. News is in nationalising silver is interpreted 1929 United Press, per 8. El vealing the base of a huge potential SAN generally bullish and profit-taking as one more move in the Inflation Levy and Company.
Credit Inflation United Press, per met with support. New regarding programme.
8. E. Lery and Company the Canadian crop remains una
"Stocks: At the opening orders changed. Leading mills estimate were oven and the market waa the total cropźid türək, Okul active with a slight downward trend Provinces at 250,000,000 bushels on a diminishing volume of busi Exports from the Argentine are the mess.
heavfent since March, 1982. Good Cotton: Realising and a little rains would help the crop the Southern salling is catching stop Argentine. The Liverpool mar
loss orders.Spot" houses and new speculative buying is in- "Cotton: There were some rains Demand for cotton is more In South and Central Teca:
was strong.
whichReuter,
company
Even when the port motor splut tered and stopped, Donovan did not regret going alone. It was so easy, LEFT OVER. ASPARAGUS — to and Al partnezdné site sort
JOR REVENUES
Washingtonį
has
to-day
The ounced that be between Decem- and
cooked asparagus.
th calary, pickle
928,635
real served
r B. E. Levy
Compan
Inty of bringing him out of It
a
5
SINCERE'S
ANNUAL
EXHIBITION
IN CELEBRATION OF
"SEVEN SISTERS"
FESTIVAL
TO-DAY
TILL AUGUST 19th
AT FIFTH FLOOR
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-MINIATURE MODERNIZED
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sl: all of
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REMEMBER OUR GREAT SUMMER
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Starts TO-DAY-
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CHINA EMPORIUM LTD.
SUMMER SUITS DRY-CLEANED.
WE KEEP THEM WHITE AND SOFT.
No risk of scorch on your Gabardines, Palm Beach, Mohair, or Silk Suitings
ur: steam presses cannot spot or whine, We dryclean and launder Summer fülta in a. v
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{Larrent Banitary, Lamdrwen, Drera-and-Dry clea