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FRANCIS WU'S STUDIO GLOUCESTER ARÇADE
No. 33592.
ESTABLISHED FOR OVER ONE HUNDRED YEARS
GOLD BUYING PRICE Central Bank Pegs Rate At CN
Black Market
HONG KONG
Market Goes SMUGGLING TO Underground
Shanghai, Feb. 17.
In the wake of new measures by which Chiang Kai-shek's Nationalist China sought to avert complete economic collapse, the Central Bank of China set its buying price for gold at 480,000 Chinese dollars an ounce.
This at the new official rate meant 40 United States dollars compared with the previous open market price of between 45 and 50 United States dollari an 'ounce.'
"
Evening newspapers heeded ther
Effectiveness
depends.
the new regulations forbilling, upon implementation. pyblication th black market i Back To August
The Chinese do not have an prices for gold and foreign- currencies. Underground black | efficient civil service--that”- is marketeërs; in waver.
fool of met आई the
wers; the offering 535,00 Chines, dollars diffiguity today." for one United States dollar, Auther bank manager told compared with the Central Bank the Associated Press
"There of. China's, barying rate of appears to have been a large 12,000. Up the present. | nullée forer organised to enforce Healers were afrail to set a the ban on foreign currency and price for gold but generallygall.”
expected this tử by Tur higher, He said there was emisider
· Than 18”” nêw „fficlal price. Shie impeculation on how far the Shanghai, Ministry of secret pollce would go in enforr. Economic Affairs Wang Yoning the regulatinges and fear wu sald Gugerament could fix was expressed they might search Prensaiable" eriliniz prens hefg privat homes and offices.
Government, The lier were reported stopping cars and frisking the occupants.
all necessities,
he sald, war prepared to release *280,000,000 'nited States dollars di Tordign exchangé by importation of June 30 Tor materials required for “indus- trial development..
Black Market Underground
The Minister, also said Gov- ernment planned imposition of Jabour wage cellings.
The Mayor of Shalat K.C. Wu. meanwhile, appealed to merchants Lo refrain from horting and stabilisation of K commodity prices would enside,
the people to tide over the pre-
Bunt crisia,
Black market opeentura in United States currency shifter "underground" less than 24 hours after President Chiang Kai-shek announced his drastic "last diteb" measures designed to turn Chian's economic crisis. -"There is already an under- ground black market"; an im purter told the Associated Press today. "But the operators are being cautioiam and will only trade with you if they know und trust you".
The Importer said, one dealer quoted a rate of CN$11,500 for buying and CN$12,500 "for- selling and told me he would! Zip Line e-info-for-gold-later
in the day."
"I've got to make a living” the importer quiated the operator
8 sayink.
Practically every Shanghal financior and businessman in terviewed: predicted the blick market operators would go underground until the heat is off" following the banning of dealings in United Statok cur- rency and gold.
The
Shanghaj, Feb, 17.
Ghines authorities reported to hr fuking druatic measure to prevent
the amupaling of foreign cur- Trselen to Hong Kong and other paints outside of China,
The muguling in expreted to increase as a result of the inė restrictipus.—Renter,
T.V. Soong Accused
y
erd
rate:
•
HONG KONG, TUESDAY, FEBRUARY 18, 1947.
FIXED $480,000
Royal Family In Capetown
Dressed in white, naval uni-y- farm, the King walked on to the y- thick red carpet, laid from the gangplank as an artillery, hat- tery fired-a 21-gan salute and an Army band played the Nn tional Anthem.
Field-Marshallan
Christ
Byrd
Flies Over
The Pole
Aboard Mt. Olympus, Feb. 17.'
Admiral Richard Byrd, cont mander of the "U.S. - 'Navy's | Antarctic expedition, flew over the South Pole today and drop-i ped the fing of the United Nations. The Admiral thus, duplicated his originál flight-of the Pole of Nov. 29, 1929...
+
Admiral Byrd refurn to the South Pule required a 13-hour| flight. He reached the Pule at, 5.40 p.m. EST.
While Admiral Byrd, wrote a personal menauge to Admiral Chester i Nimitza
Chief of
circling the Pale
12,000
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Winder Hausc
Price: 20 Cents.
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TYPEWRITERS
CALCULATING MACHINES also Anything and Everything for OFFICE MACHINES Excellent Service
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9, D'Agullar 8t.'
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CHARGES FOR LIGHT
SHIVERING HAMBURG'
Hamburg, Feb. 10, The entry of British Army familien from Britain into the overcrowded city of Han- burg will be
stopped after March 16. it was officially munounced today.
Shivering Hamburg present
Accommodating 200 Control Commission families and 250 Army, familjen. Rut vwing to the acute, housing, shortage the number.of fauf- fice allowed to leave Britain' Jura fullen toʻa comparative trickle recently, Reuter,
Hope Of Reduction
Kowloon
In
Hopes were expressed by Mr, F. C. Clemo. of the China Light and Power Co., Ltd., at yester- day's meeting of the Kowloon Chamber of Commerce, that the electricity charges at pre- sent in force may be reduced by July, when it is expected that the new plant will be funning, Mr. Clemo also emphasized that the China Light and Power Co., Ltd., had the interests of con- sumers at heart and appealed for a little patience on the part of the public.
There was a large gathering, pressure plant which very of representatives from leading inefficient and very costly to Kowloon, Chinese factories, operate from the point of maln
Naval Remarkable hotel restaurants and firms tenence. This low pressure.
Divorce
1, was against the refusal of the Diverce Court julle to grapt Frederick Charles Bax- for a decree wiki of nullity on the grounds that his wife had
and Power Co., Ltd.
present at the meeting, which plant had been very lady was held to discuss the question neglected by the Japanese, of electricity charges,"
necessitating extensive repairs Landon, Feb. 17. It Introducing Mr. Clero to and the new parts ordered for ast yet Right of appeal to the Have the meeting. Mr. Robert Der, these turbines have el, Lords was Kranted today Chairman of the Chamber, sald been manufactured: Sn, depends when the Court of Appeal dis- that i was with great pleasure ing on this old plant whose missed what the Master of the that they were being presented | steam consumption is nearly Ralts describe:l', ann "remark with an opportunity of hearing twice that of the high pressure. able appen! which raised an im- Mr. Clemo, speak to them on the turbine, this conditionin
% portant question."
testion of electricity. Mr. Dez creases in number of pounds of stressed the fact that the mem-coal-sumed as 'compared to ' bers of the Chamber were not our friends in Hong Ketu
the enemies of the China Light "Our maintenance of the plant. In view of its had eundi- In reply, Mr. Clemo said: tion, has had to be..performed "The Chairman of the Kow-between the hours of 12 mil
The their marriage through tim-loon Chamber of Commerce night and 8 o'clock in pelling him loose contracep- wrote to me on Feb. 12, re-morning, In order by ensure tives for ten years.
Tosting ine to address mem. that qur consumers liave, Bight the Ille bere interested in the question and power, runding the duchement of the of the rates of electricity in Cont. Appeal today: "said that Kowloon, I was indeed very the Court was constrained 1. pleased to consider this matter say that
marriage had
Contacted Mr. Der to the ami meyer hen conamamated but effest that I would be only to the hubung, though no doubt pleased Pesefantly, nequleerd in die some idea as to why our costs to try and give you Pedition imposed by his wife vary from those obtaining in
The Divorce Com Jelge was Hong Kong.
the noted, who he found the bushurit bäd not provi that • non-consummation
Capetown, Feb. 17. King George VI walk- ed down the green and gold. gangplank of the Operations. The message was battleship Vanguard to- sent by the plane's radio and
relayed to Washington, day and became the first
The temperature at, the Pole | eigning British mon-was reported to be 40 degrees arch to set foot on. South, below zero at
feet,-- United Press, African soil,
PILOTS REFUSE Nanking, Feb. 17.
TO FLY The Resident Committer of
Prague. Feb. 13. the People's Political Council
Plicts of the Carchosolovak this morning passed a resolution demning the punishment of
Airlines who live refer to by since Saturday. insisted today Mr. T. V. Song, President of
they were "not or strike but the Executive Youn, for his
won't By" because of alleged in alleged mishandling of the Bin Jan Smuts, South African Pre-dequate safety measures and the wilfully refuse to consummate
torstanding wage dispute. Feini crisis.
mier, rend na offieinl welcome
One pilot said tințat “un offl. and then presented General Sir el meeting un Friday as the re- Tommittee went on re- JA, van Ryneveld. Chief of thesult of a crash on Thursday nguy
The Master of that it was dissatisfied "General Staff, after which the Kindro, which killed three crew with, the Government action in King Inspected the 100-man mer. We decided not to fly any
until we raising the official exchange guard of honaur.,
are sure it planes are safe. We told the Airlines directors on Saturday,"
United Press.
MARSEILLES HIT BY QUAKE
Marseilles, Feb. 17. |
The French part of Marseilles
"We hope that by July the where we started last August the PCCC, the Control_Yuan, and During inspection, the guard was shaken by
Turbine Sabotaged earthquake
now plant will be running, al when the Government set the the Legislativo Yanī Into the of honour, wearing blue uni-losting about three minutes in the of
"Firstly, you must under then we enn sos pɔ rensenewly official exchange, rate, at $3,350 responsibility for the recent forms, white hats, khaki belts carly hours today. There were was due to the-witful refusal stuit that, prior to the invasion a reduction cannot be made, au
market confusion, charging that Land puttees, stood at attention no casualties.
of his wifRouter:
of hostile forces into this it is not the intenting of thei The epicentre of the shock was "The black market rate re: Premier Soong cannot escape with fixed layonets while the
Colony, we were forced th| Company to make money . the estimated about 150, kilometres mained at a standstill for a blame and thus should be band played Afrikaans
well as the walls of several turbine. This was a brand new we have always treated with sabotage our high pressure expense of the consumers.whom while but soon began to climb.punished together with other tunes which resemble somewhat from Marsellies,.
Some windows were cracked bildings-United Press. Viennese waltzea:
turbine and only Installed in the great amount of goodwil will do the same thing this officials concerneil.
1030.
and reasonableness.. "In the Interests of our con- "I will now draw your atten sumers in Kowloon, we ordered, tlun to another fact which you of together with a lot of other are probably not aware plant, all the replacement parts Since the occupation of the for the turbine which I have Colony, by the Japanese,” when . Just referred 10. These ware the theft of current was, * W* ordered In September 1948. believe, extensive, it will- inter- They have nat oven heen shinest you all to know that Mis ped" from home" yat; 'as I have Company is at, present losing
ust-received a-cable-to-s3-400,000-units-por-month-------- that they would be delayed for theft of current By variats another month. due to shipping. means. It has got o seri We therefore have no alterna- and the lose so great that we
low tive but to operate our
(Colinued on“Papa,8 „Cal. 4)"
There have been no foreign; ers yet reported involved.. **WW are right back
US$1.00.
Bebing the King came Quem - Meeting in an extraordinary Elizabeth, Princess Elizabeth session. The PPC Resident Coto and Princess Margaret. They mitte passed the following rewalked to the Itoyal Pavilion to | Solution?"
meel 'members of the Govern. ment and other, officials.
AD hint, investigation by from
time. It should have been
$18,000 to US$1.00 instead of
$12,000 to US$1.00,"
: Another. Ampárter - sald the new rate would be sufficient:
not in
providing prices did
crease.
(2) Government must adopt effective
measures to divert. Burping capital into productive enterprises.
folk
Drive Through Streets
The Vanguard arrived just after dawn, completing the 6,000-mile journey from frigid | (3) Punishment of Govern-England in 17 days.
From. ment officials who used public} Capetown, the Royal Party, will mention of stopping its print-flops
"The Government made nofunds for illegal business operatiegin au extorsive tour of i
ing presses, which is the, baris!
#74°Rigid pull-round price the evil in China's economie Conditions," another banker trol--United Press,
lnted put.-Associated Press.
South Africa. con:["Following welcome-coremon
ies, the party entered a fleet of¦ special automobiles fer a slow circular drive through the centre of Capetoir, ending at Government House, which, willi be their official residence until Friday.
TEMPORARY CURE?
Economically astute private banking and business
Shanghai, Feb. 17.
circles, both Chinese and foreign, today view ed China's new ten-point programme for meeting the economic financial crisis as "temporary paliative" which, unless rigidly. and equitably enforced-which the past re- cord would not indicate is likely to "add fuel to the fire."
a.
new re..
They pointed out that com producing something at a price nindity prices were already_nt, which could self, abroad." • " levels reached when the CNC Independent circles in Non- exchange rate touched CN$18,- king, quoted by the United Press, 000 to $20.000 a week ago. "The generally viewed the new CN$12,000 rate therefore gulations as a "severe, personal in 50 percent below the actual defeat for T. V. Shong", who rate at which commodity prices had repeatedly rejected many are selling and from which suggestions fürnetians -em- they are not going tú recede. bodied in the new regulations. U.S. Business Stopped then that existed when the rate
That, la exactly the same situa- United Press.
Bruce Smith, chairman of was upped to $3,600," one well- the American Chamber of informed source said. Commerce, said "the new re- gulations would "stop American business in China at least for a while..
The Chinese clyllian, attitude was uniform on the order for surrender of foreign currency.
Bankers pointed out that fact that the Government, ban on the publication of rates other than the official rate of exchange was in admission they expected the black market to continue...
Richest Girl. To Try Again
St Moritz, Feb. 17.
The King and Queen rede in a topless car and the Princesses followed in a shiny black limousine. Twenty-two mounted- pilica preceded the King's car and 24-more were behind - the Fee:nd Royal automobile:
}
War
ar
the
Danger Just A Madman's Dream
Minneapolis, Minnesota, Feb. 17. The possibility of another var involving the great powers can be discarded as a madman's dryam, the United Nations Secretary-General, Dr. Trygve Lie, told the National Conference of Christians and Jews here tonight.
"I have nevet believed in the countries that they are-over- danger of another war among whelmingly preoccupied by the great powers. In the years these problema. Immediately following the "Although every one of the second world war," he said,
great powers has its own de finltò Ideas about peace, and every one of them is determined
"All countries which played a prominent part-In the war were gravely damaged by it
"The problems of reconstrue tion and cuntversion are more The parade route was flanked than enough to occupy all their with soldiers to hold back oneforces for years to come. I can of the greatest crowds ever "tö" assure you' fròm personal" ob- semble in Capetown.-Unite-servation and personal conser Preas.
sation with the leaders of these
Viet Nam Recapture
Suburbs
Hanoi
Hanoi, Feb. 16. French troops here today are reported to be mop- ping up single snipers left in the ruins of a large portion of the Chinese Annamite quar- ter on the northern outskirts, of Hanoi after a heavy offensive by the French on Friday and Saturday to clear this, area, where the Viet Namese Nationalists had been entrenched be-- hind barricades,
The fighting continues in cthor of prisoners and children, whe quarters of the city's suburbs as are now living under VietNamh the Viet Namhese have taken up protection,"
piosta.
A Paris, Feb. 17.'
or
be
CIGARETTES
to have the situation which THESE. will assure it security in the future, apte has the slightust "ARE MANUFACTURED nullon that its problems can, hớ settled by a fresh conflict.
Racial Idea
FROM A BLEND OF The present generation yor THE FINEST TOBAC eno he sure, simply would not tolerato another war."
COS OBTAINABĻE.........
Dr. 7de saldˇthat of all flinga for which the United Nations was struggling, none was mire important than the idea of rucjali
and religious tolérance."
"The only danger from which the United Nations suffers Inj this regard is 199 temptation. to take racial and religious tilerance for granted. Because- we are not conscious of any racial or religious prejudice in nurselves, we may be inclined. te assume that all other peuple
feel likewine."-Router..
THE WEATHER.
The anticyclone contrad over NE CSTë most sistionary and has increase in intenalty. It covers the whole, of· Kuné Kulla, China and slis 'belahbouring "sendi "Prosaure" la lów 16, ità E· of Japan and to the But the Philipping; and a small depression is 'moving Eación» „Hokkaido! Today's Vorrenst1--Fresh: NP winds, mainly cloudy; 'mid.
Yesterday's Weather:
He added that the measures "When. the Government big! Would make it "very difficult" | shots, who have most of it both for business as a whole.
here and abroad, 'Have turned Most foreign i businessmen | their foreign exchange in, they
the offensive against French out- There was no sindication in the
radio announcement, of how, regarded the new measurbs | ton talk to moje
The fourth marriage of Miss
The Nationalists have reoccupt- when this transfer would gloomity but, acknowledged they
Barbara Hutton, Woulworthed two villages, Glap. Nhat and made Reuter, ET ON scemed good on the surface.
holzes, described as the richest Giap Tu, on the circular read
Suburbs Fall Smith said the bagle economie
woman in the world, has been which surrounds the Tonkingese altuation had not been solved.
postponed because of the non-conltal and are now digging in. In a bitter battle ftr Hanoi, Another financier said the
arrival from Paris of her cer French dispatches describe this Viet Nam troops today recaptur. Maximin 67.1 des. Rub. regulations are not a Bolution
tificate of divorce from, the films have been in "no man's ed two Hanoi suburbs of Ging Minimum: 47 des star, Cary Grant, although the Another but a temporarý" stop 'gap." .*;
Nhat and "Glap Tu from which dumhine; NI. *. list.
altack de- Stili another described it as
banns have been published for ccribed as an at they were driven several weeks. Hainfall: Trace, Tulal sinne Jan. 1-
204 pm, au- muninet,,, anƐ gYRIAKO "an attempt by the Government ~Empty Gesture a fortnight.
tempt toward the northwest ago
The French Press agency car- to show both at home and
Miss Hutton is to marry 83 our of "Little Lako", west of, ried dispatches from Hanch today. abroad that it has taken was also stressed by both year-old Prince-Igor Trabalak, Trib city. Was reputed by French adnuting the loss of the suburbs, or at
Chinche" and " foreignors. that] French born of Russian origin, troops.
explaining-the-Viet Names Ret tumidity adequate measures."
restoration of "controls" was with whom she has been spend. In other parts of the western struck behind the Freneli forces. Be "The Government obviously is
slow that were pressing a sustained wind Directions, AKU MINERVA angling for the $600,000,000 an empty gesture since through ing a winter holiday at suburbs of Hanel where
all-scale house to house opera-attack on the Chinese quarter of Wind Fores alit the war controls were Moritz.
tions are in progress French Hanol in which, the Viet Names
229, 449, knots;
„fand".
Juan from the United States, he merely a paper document-which Miss Hutton's Arst husband troops have advanced cutral hald's strong realstance Rocket ON OTHER PAGES
As halda ARMA NA
was not. and could not be en The Government faces an Herculean task in enforcing forced
was Prince Alexis Mdivant, son blocks from the "Street of Cups since Dec. 19. of a Russian general: In 1984 to rent megungen day French overwhelmed the Viet Page Two
"The Street of Medicamentați The dispatches Indicate the she married Count Kurt, Halıg.ja the measures, financiers opined. → Some suggested, "Establish÷à witz Reventlow, a Dano. This that the Viet Namh radio on Fri. Nam forces in the Chinesó quar. Esi Un?
The manager of a large free market and let the cur- marriage was dissolved in 1921 day announced that following ter and wiped out the resistance H.K Traffic foreign banking corporation rency find its own exchange She married Cary Grant in the International Red Cross costs of the suburbs where strong Switch-On in Britsjat
the request of a representative bry pockat... buli apparently at the Papa Findi bald the now regulations, mar lovel. On that basis, it might 1944 and this marriage was President Ho Chi-minh has agreed terang forces are now datab, Page Blaht
"the"fight irection"; but be possible for China to begin dissolved last your Reuter-to-free: sherily certain mumbers Ustea United Press
Vidiome and 'Gopal
Thefts Of Current "Every conceivable item of expenditure in carefully cliček cd In order to keep our costu down to the very lowest, Su in running and maintaining f much for the added expenditure
old low pressure plant,
MORRIS ECOT
PHILIP
ENGLISH BLEND
E. OTT&CO.LID.
intral