DELICIOUS
YOU WILL LIKE
THIS FASCINATING
FLAVOUR
PASSION
FRUIT
ICE CREAM
30 cents.
Per Portion
DAIRY FARM SODA FOUNTAIN
13, Queen's Road, Central
ANOTHER TATTOO
TO-NIGHT
AS GOOD AS LAST NIGHT'S
PLEASE BE IN YOUR SEATS
By 8.15
BOOKING FOR ALL SEATS
CAN BE MADE AT THE
GROUNDS AFTER 7 P.M.
"
DO NOT FAIL TO WITNESS THIS UNIQUE ENTERTAINMENT IN THIS
WONDERFUL WEATHER
COLONY'S RIVAL TO ALDERSHOT
· (Continued from Page. 9.)"
to-night and the final performance
will be given to-morrow."""
The official guest at last night's |
THE CHINA MAIL, FRIDAY, NOVEMBER 2, 1934
ANGLO-GERMAN DEBTS AGREEMENT
CLEARING PACT SIGNED IN BERLIN
London, To-day,
by the Bank of England, and fur
be
ex-
The Anglo-German 'debts clearing ther arrangements will be made agreement, the terms of which were whereby, with, the help of the given by the President of the Board credit operation, and if necessary of Trade, Mr. Walter Runciman, in of the charge upon the 55 percent. the House of Commons, was initial earmarked for current trade pur ed in Berlin yesterday.
poses, Sondermarks will In his statement Mr. Runciman liquidated within three months, |said that for some time during the| · At the outset foreign
negotiations it had appeared that change certificates for the im- no solution of the difficulties could port of United Kingdom goods jbe found, except along the lines of into Germany will be issued
a clearing agreement, in spite of the without restriction,
but the drawbacks of such a aystem and the German Government, after hindrances which it inevitably places consultation with the British jupon the flow of trade. The draft Government, may temporarily re- clearing agreement which, it was strict the issue of such certifl- hoped, would avoid major difficulties cates. But in exercising this inherent in such an arrangement and control they will give special con- the pitfalls, which had prevented the sideration to the exports to Ger- successful working of similar agree-many, which are particularly im ments between Germany and other portant to the British, namely coal countries, had however, been agreed and coke, herrings, yarns, tissues! jupon, he said.
and textile manufactures.
Towards the end of the negotia- DAWES AND YOUNG LOANS tions the German Government put The German Government fur forward an alternative proposal ther agree that they will continue with the object of safeguarding the as from January 1 next to pay payment for the current exports of full interest on bonds of Dawes United Kingdom goods to Germany and Young Loans in the beneficia); and enabling outstanding debts to be ownership of British-holders or liquidated without setting up June 15 last, and will offer to clearing system.
British holders of Non-Belch Loans 4 per cent, funding bonds The basis of this proposal was guaranteed by the German that the German Government will Government and exempt from the guarantee that 55 per cent. of the transfer restrictions, on the under- value of the German exports to the standing that British holders who United Kingdom shall be de accept this offer will take funding Anitely earmarked for the pay-bonds in full settlement of any ment of United Kingdom exports coupons funded.
55 PER CENT. GUARANTEE
to Germany. This allocation Mr. Runciman said that the should, according to the normal agreement reached embodied these trend of Anglo-German trade, be arrangements.. In case it should aufficient to ensure full payment not prove successful provision had The Reichsbank will provide, im been made for its replacement by mediately, not less than £400,000 clearing arrangement. The agree for the liquidation of outstanding inent was the best possible in the commercial debts, and will also ex circumstances, but he did not pedite their liquidation by the suggest it would
remove all dit- realisation of outstanding German ficulties in the way of Anglo-Ger- commercial claims on the United man trade, and he advised expor Kingdom, whether by credit operaters to continue to proceed with fition or otherwise.
caution.British Wireless Ser
Insofar as these measures, are vine, not sufficient, the Reichsbank will set aside an additional percentage, provisionally fized at 10 per cent of the value of German exports to the United Kingdom, sufficient to en- sure the liquidation of all out- standing debts within 12 months, he added.
MARKET STEADY
BUT SLUGGISH
(Continued from Page 6)
SONDERMARK LIQUIDATION Sondermarks standing in the Favourable factor prior to the special account under the exchange opening of the market: (1) The | agreement of August lost, as well action of the market is construed as those waiting to go into that as encouraging in view of the pre- Recount, will continue to be sold vailing circumstances, with invest- ment buying the chief sustaining factor.
LATEST QUOTATIONS Unfavourable factors were: (1)
The following quotations have been received by Messrs. S. E. Levy and Co., and the A.O.F.C.
Oct. 31. Nov. 1. New York Cotton: Closing Closing! December
12.15 12.02
12.16 12.04 12.20 12.09 12.24- 12.09
January
March
May
July
October (1985) 11.82 'Spot...
12.19 12.08 11.77
12:40
12.25
New York Rubber: * December
¡January
March
May
July September [hicago Wheat;
¡December,
13.16
12.91. 18.02. 13.28 18.27 18.50 .18.46 18.68 18.62 ,18.88 18.88 14.12
95%
97% 94% 95% 87% 80%
Unsettlement of the leading com- modities. (2) The market is in- clined to creep forward, but up- turns fails to stimulate specula- tive interest.
Night Telegrams The Standard Oil Co. of New Jersey has declared its regular! semi-annual dividend of 50 cents per share, plus 25 cents per share extra.
It is reported that all companies have joined in advancing tyre prices.
Mr. Henry Ford has issued a statement to the effect that the Ford Motor Co. ia out of the de- pression and that its 1935 produc- tion schedule will be set at 1,000, 000 units or more for the drat time for the last four years..
Bank Clearings during the week totalled $4,419,000, against $4,- 480,000 the previous week and $4,557,000 during the correspon ding period of last year.
Brokers' Loans totalled $614- 000,000, a decrease of $22,000,000 from the previous week,
Wall Street is sluggish, but steady, with minor - fractional changes about evenly divided. Some slight improvement is gen erally expected in a continued dull and colourless market.
EVA. Plerce Co.'s Report
May...
July
| Chicago. Corn:
December
-76.
-
May
77/2
July
77
Winnipeg Wheat;
December
75
76%
May?24.
81%
New York Sugar:Be
October
1.81
1.84
SQUALL CAPSIZES JUNK
March
May
July
1,68, 'I:69 01:72 1.78 21.75 1.77
Launch Rescue
New York Blik December March
118
New York Metaler Gl
116
1:18 1.17 $1,17 Lia
62,170 62.40: 58.05n 58.35 :58.70. 58,99- 54.00 54.500
Oct. 28. Nov. 1
In their market report, the American Oriental Finance Cor- poration, correspondent for Messrs.
Other Issues will stay behind; Impossible to give
6.116.97% opinion. 50.75" 50.80
Wheat: Prices were
Small, the advent of the Loch Nes
Monster. (very clever work indeed), performance was H.E. the G.O.C.,
Several Chinese junk passengers May and what might happen if traffic Major General. O. C. Borrett, C.B.. had a narrow escape from drown Montreal Silver was controlled by wireless, provide C.M.G., C.B.E., D.S:O., who attending shortly after 2 o'clock yester December ample merriment.
ed accompanied by Mra Borrett, day afternoon, when a sudden March
A large attendance witnessed the Capt JJ. Abbott, A.D.C., and a squall between Stonecutters Island May Tattoo last night, but despite the party of friends.
and the Mainland resulted in their July vast throng, access and departure to Commodore Frank Elliott, O.B.E., vessel capsizing. the Sookunpoo ground was easily will be the official gudat to-morrow Fortunately, a motor launch gained thanks to the excellent night, and H.E. The Governor, Sir George Bing V was near and affect Copper, March ayetem for marshalling the crowd William Peel, E.CMGKBE on ed a smart rescue. The wier of Tin, March
will take place, again Saturday. —JEW.
the junk was Chen Chuf, aged:52. | n-nominal-
CHEFS
agree that it has no equal.
LEA& PERRINS SAUCE
INSIST UPON IT
REFUSE ALL SUBSTITUTES
THE FINEST GRADE OF BUTTER PACKED IN THE BRITISH EMPIRE
"THE WORLD'S BEST" Taste it for yourself
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TELEPHONE $20692
FINAL SHOWINGS TO-DAY
ACTION AND · MYSTERY
in
CONAN DOYLE'S SHERLOCK
HOLMES STORY
Radio
MYSTERY ANI
DOYLE'S
HRILIS GALORE in CONA
greatest toño
SIGN of FOUR
ARTHUR WONINER JAN HUNTER ISLA BEVAN
NEXT CHANGE TO-MORROW EMIL JANNINGS in
COMING SOON
"TEMPEST"
The INVISIBLE MAN
Daily at 2.30, 5.30, 7.30 & 9.30 PM. PRICES: 40 cts., 30 ets. & 20 cts.
EA. Pierce and Company New There was some support on dips and ly easier. The firm "Sp York state
Eastern Houses were prominent holding, hear cotton Stocks: The market was very buyers. Strong cables from abroad tations of increased much mixed and was very selective continued and the strength of cash pressing October In other words, in industrials we wheat was a factor. Winnipeg May mentals are unchanged think the situation tong; and wheat prices are pegged at 80 cents **~ “Rubl that stocks will continue to advan
basis is
Funda
arket
ids were higher. Cotton: There was some scatter-
was much short
were good
ation and
grade during most of the session were moderate. & Prices were alight
1:Brokers' Loans decreased $22,000,000
"Sales of
demand Fröndi
December at 75 cents Other here due