THE CHINA MAIL, MARCH 5, 1987.
Page
CABINET CRISIS RUMOURS IN FRANCE: AND FIRM DENIALS Heavy Pressure Causes Slump In Franc REVALUATION TALK:
HECTIC DAY ON
MONEY MARKET.
Paris, To-day.
Prices on the Bourse substantially improved yesterday on rumours of impending changes in the Government and of currency devaluation.
REPORTS WERE CIRCULATING TO THE EFFECT THAT THE RESIGNATION OF THE FINANCE MINISTER, M. VIN- CENT AURIOL, WAS IMMINENT AND THAT HE WOULD BE REPLACED BY THE PREMIER, M. LEON BLUM, HIMSELF.
It was also rumoured that M. Charles Rist, the financial ex- pert, would replace M. Labeyrie as.Governor of the Bank
France.
of
Stabilisation Of The Franc
Other rumours were that the franc would be devalued from 105 to the Pound sterling to 112, the lowest legal tender, and that a free market in gold would be re-estab- lished.
Paris, To-day. Stabilisation of the franc, if carried out to-morrow, as ap pears to be generally believed in financial circles, will not be effected below the present par-. ity of the franc.
POSITIVE MEASURES The impression has gained ground that the Government will be bound to adopt positive measures to solve the Treasury and economic troubles instead of maintaining a policy of mumƶ¶¶¶¶¶¶¶¶LLT! "wait and see.”
So says ககக ·announcement
Heavy Bear Drive
London, To-day.
issued in Paris by the Havas news agency-Reuter.
M LEON BLUM
K.R.A. ANNUAL MEETING
Strong Plea For Municipalisation
Boom In Diamonds
Amsterdam, To-day.
The famous Amsterdam diamond market is enjoying a boom as result of a large demand for cut diamonds, which far exceed the sup- ply.
The scarcity of diamonds for in- dustrial purposes is becoming SO pronounced that ordinary Congo diamonds are being placed on the market in the lack of higher quality" stones-Trans-Ocean.
at
Yuen Ku-sai, aged 29, a coolie Wellington Barracks, was admitted to the G. C. EL. suffering from a broken arm, alleged to have been caused when he was assaulted by an Indian soldier.
It's time for a spot" of Beehive Brandy
"Perhaps it is too much to ex- in a Government immersed pect matters of high policy to worry it self over a few lepers, street lights, or a hole in the road, but there is When the Bourse closed yester-apparent not only in the Senate but method whereby it can relieve it day Rentes three per cent. were also in the Chamber of Deputies, self of these triffing responsibili quoted at 73.75 against 70.95 yes-where difficulties arose on Thurs-ties-and that is municipalisation," terday, Banque shares at 84.75 as day in discussing the Bill design declared the President of the Kow- against 79.00 and Rintintos at 34.50 ed to check rising prices, the Gov-loon Residents Association (Mr. B. as against 32.40.---Reuter.
ernment will be forced to make Wylie) addressing a large gathering certain fundamental changes in of members at the annual meeting policy.
in St. Andrew's Hall last night. COUNCIL TO MEET
Criticism of Government policy The French Ministerial Council voiced by Mr. Wylie included bus When the Paris banks closed at will deal with the financial situa rates, poor street lighting, the con- mid-day yesterday for the mid- tion to-day (Friday) when the Pre-dition of roads and the leper pro- After Lent holiday, bears seized the op-sident, M. Albert Lebrun, will pre-blem, the solution for which he portunity to launch the heaviest side.
suggested was the use of the aban- that drive against French currency The paper attribute this sudden doned Laichikok gaol as a leprosa- seen for some time.
development to the demand for rium. Discounts on francs for forward clarification of the Government's
Special business transacted at delivery against sterling slumped financial policy made during the sharply to 181 for one month and Cabinet meeting by the Radical- the meeting was the election of Mr. 3.37 for three months, compared Socialist Ministers, M. Edouard
J. P. Braga as an honorary life member. Mr. Wylie was re-elected with 1.27 and 3.03, respectively, at Daladier, M. Yvon Delbos and M. the opening.
Chautemps. Reuter and Trans- President for the ensuing year. Ocean.
Pressure against "spot" francs necessitated heavy intervention by the British Equalisation Fund.
NO NEW DEVELOPMENT.
OFFICERS FOR YEAR
Other officers were elected for the ensuing year as follows:-
President, Mr. B. Wylie.
Vice President, Mr. F. C. Mow Fung.
(Continued from Next Columa) Foreign exchange circles in Lon-3. M. Alves, Mrs. E. W. Gardiner, don point out that to-day's slump Miss R. Mow Fung, Dr. Ip Kam- in the franc is not indicative of any wah and Messrs. W. C. Felshow, H. new developments but serves to Gittins, the Rev. J. R. Higgs, Lam emphasise the seriousness of the Ming-fan, Li Chor-chi, D. W. Man- French financial situation.
ton, L N. Murray, P. Pestonji, C. E. Terry, T. B. Wilson, C. M. Man-L
In Paris, authoritative cir. cles categorically deny that the Government has any intention to modify its present composÏ- tion, either by including new ministers or by a reshuffle of portfolios.
It is added that no resignation of any minister is contemplated. as was reported earlier.
U. S. ASSISTANCE?
According to a report in the
Secretary, Mr. R. Baldwin. Treasurer, Mr. R. P. Phillips. General Committee, the Hon. Mr. d'Almada e Castro, jun, Chev.
ners, B. W. Bradbury, W. J. Rattey (Continued on preceding Col.)
Bullet's Queer Path After Killing A Man
(SPECIAL TO “CHINA MAIL”)
Faris, To-day.
Petit Parisien, the United States A queer story of the path taken Secretary of the Treasury, Mr. by a bullet through the human Henry Morgenthau, has assured body after it had penetrated the the French Ambassador in Wash heart is being widely discussed in
French medical circles ington that the United States Gov ernment is disposed to come to the
It assistance of the French ment in its present financial diff culties
the paper conti that since a critical attitude to MO Blum's financial policy
now ducted the
death of a French
fighting during a
tion stated that he had been unable to find the bullet or even the point where it must have left the body.
A further post-mortem examina tion was ordered and ended with the discovery of the bullet in the calf of the left leg
* It is generally presumed that after piercing the heart, the ballet had lodged in one of the mai inquest revealed teries and that the dying man's con- shot through the valsions forced it to take this. doctor who had con-traordinary course through the
body Trans-Ocean.
mortem
Before
the
daily
round
thankless task
After
the
game
Before the
shoot
BEEHIVE BRANDY
Sole Agents:
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Tel-30986
Gloucester Arcade