CABLES.
LATEST CABLES.
(THROUGH RECTER'S AGENCY.]
TWO WORLD FLIGHTS.
HELD UP BY ICE AND FOG.
REYKJAVIK, August 14th, Lieutenant Marscalli has arrived andi
THE " HONGKONG DAILY PRESS, WEDNESDAY, AUGUST 13TH, 1924
LATEST CABLES.
THE WORLD'S SPORT.
WORLD SCULLING. 4
PADDON STILL CHAMPION,
FAR
EASTERN CABLE
NEWS.
(THROUGH REUTER'S AGENOT.] SINO-SOVIET AFFAIRS. MUKDEN WARLORD IGNORED. ANOTHER PEKING PARLEY.
PEXING, August 12th
CANTON NEWS. from ock
CHISE CORRESPONDENT. Į THE NEW CENTRAL BANK OF CHINA
ARMED ROBBERY CHARGE.
HIGH TAXATION.
A DANGER TO THRIFT, MAN SENT FOR TRIAL
EFFECT ON NEW ENTERPRISE. Sin Kam, a Chinese, who was com mitted for trial on Manday on a charge. The dangers of high taxation, including of attempting to shoot an Indian watch- The Central Bank of China, with head man, appeared before, Mr. Hamilton at
the possibility that it might destroy office at Canton, authorized by the Gen the Kowloon Magistracy yesterday after. national thrift, were emphasised by dir. eral Headquarters of Dr. Sun Yat-sen, noon to answer a charge of having been Reginald McKenna, giving evidenies on will open for business next Wednesday concerned, with others nat in enstody, in July ard before Lord Colwyn's Com- August 15th, in the former building of the
an armed robbery at No. 11, The Emitter on the National Debt and the The official report issued on the 9th Bank of China, the Bund. The inst. that M. Kainkhan and Chang Tsunes capital is $10,000.00, Cantonploys Quarters, at the Coggopolitan
is preparing ta pPerive Lovitelli whom he Jaines Päddön has won the world's cham. Lin had reached an agreement which currency. This bank his been authorized | Docks ne the morning of July 16th, when incidenes of existing taxation.
expects to-day
The 1'.S naval and military sheer here have promised their fullest co-opera. tion to Lawatelli's fight to reenland, Abnormal conditions of ice and for are still delaying the start of the American world diets. They will probably bè abie to leave Reykjavik before Loéntelli, whose machine will require a long overhauling in Ireland, Int Locatelli has 'n long erui ing muce and mag. By straight to the west coast of Breenland if the base which the Americans are endeavouring to estah, lish at Augmagsalik, East Greenland, proves impracticable,
BARLIER CABLES.
LONDON CONFERENCE.
PRELIMINARY AGREEMENT WITH
GERMANY.
TEXT PUBLISHED.
BRISBANE Angust 12th.
In the world's sculling championship Trace Paddon heat Felton hy six lengths.
This is the third occasion upen which unship. Last year he defeated accorded with the Sino-Russian agree. Sim Yat-sen to issue notes in the denomination ́of $1, $3, $10, $100, and Hadfield in Australia and in 1997 in New Zealand. Paddon was beaten by Ernestment was based on information the $500. These notes, according to th of Barry, the old British scutler, who won Waichihopa Trevived from M. Karakkan. einl statement of August 11th, will be the championship five times between 1910 and 1920, in 1914. A. Felton beat Barry after the war (1919) but in the next year, in Australia, "Ernie," the Thames-side idei, brought the title back to England.]
CHAMPIONSHIP BOXING.
BENNY LEONARD RETAINS LIGHT- WEIGHT TITLE.
CLEVELAND, August 126. Henny Leonard outpointed Pat Moran in a ten rounds bout thus retaining the world's lightweight championship.o
EARLIER CABLES.
HOME CRICKET.
UNITED SERVICES) MATCH.
LONDON, August 11th.
The match between the United Services and the South Africans was resumed at Portsmouth in ideal weather," on a fast wicket. The attendance was small.
The United Services scored 418, Bicunt
Bryan batteil for four hours, and hit 20 fours."
Blanckenberg took 4 for 92,
The South Africans and compiled 148 for the loss of wickets when stumps
PARIS, August 11th. The text is publisheël of the prelimine ary agreement between the Reparations contributing 6 and fi. J. Bryan 999. Commission and Germany, signed on August nth. It binds Germany to take the scary legislative measures to en- force the Dawes plan. The Commission undertakes to take measures, for the same end, including facilitating the issue of a loan. Both parties agree to make any additional arrangements which the Lor- don Conference might decide to under- take, and to refer tisputes regarding in terpretation of the agreements to arbitra tion, in accordance with methods to be | (Woolley 108.) fixed by the Londer. Conference,
LONDON, August 17th.
were drawn
COUNTY RESULTS.
At Hastings, Kent heat Sussex by 212
innings and 12 mins. Sussex compiled 163, and then 149. Kent gored 435
who, had been conducting independent legal tender for the payment of all forms with Chang Iso Lin. of public revenue and taxes and will be negotiations
admits that an put on the market for general circulation. 3. Karakhan now impisar has been reached through Chang The officers of the bank are Mr. T: W. Tao Lin's attitude rise-ris the White Sun, managing director, and Mr. Wong
Chan Hung Kwam, a 17-year-old school- property valued at $1,101 was štekan. hoy, told how four inen, all armed with revolvers, entered the quarters, where he lived with his parents, gagged him, and threatened his mother until she gave up the keys, when they ransacked the place Witness identified the accused as the man who gugged him.
Lo Mui, married woman, stated
Mr. McKenna first dealt with "the National Debt all its effect on credit, and said that, while the existence of the debt had no tendency to cats a varia- tion in Bank of England Joans, it could be shown that in practice the growth of the debt involved an increase on the
grount of loans and rice vezet.
He re
ferred to the possibility that if there were no national debt, hanka might be
went to the Arst floor of M. Emplayers' | in"other" sevurities, and in consequence
Hussinn question, and the Soviet Am. | Lung Shang and Lam, Lai Shan, assistant that on the morning of the robbery, she unwilling to invoer with equal freedom
·
REXING, August th
according to a note from Dr. Sun Yat-sen
The
bassador desires to begin format Sino managing directors. Russian negotiations without further The capital for the Central Bank Quarters, to help in house cleaning. would be able to give additional credit man came out of the middle cubicle, without reducing their proportion of parleys with Mukden. After a delay of
to his Secretary of Finance en August | nointed a revolver at her, tied her hands cash. A condition of this kind, however, could not arise now, as in any circum- some days, apparently due to the Mukden oth, has been promired from a foreign lehind her back with wire, and stels in stances a considerable debt was certain imprese, M. Karakhan is to meet D-loan of $10,000,000 for which his Sreret-gold-mounted bangle from her wrist.
to exist. Koo to-morrow when it is expected aary is being asked to prepare bonds date for a Sino Russian conference will accordingly. It appears that Dr. Sun has been able to put a loan through quite he finally fixed.. RUSSIAN LEGATION AT PEKING., and the terms are very fasurable to him. There has been no discount given, and the interest is only 8 per cent. The question of handing over the per annum. payable the first of June. marks which were consistent with a pre. Partly from savings and partly from e Russian Legation appears to be going The loan is for ton years, and the revious binding with wire. On August 6th smoothly. It is reported that all Lega payment of principal commences the sixth he took defendant into custody ou an-
other charge. tions exempt the Italian, have received year with the first instalment of 20 per cent. of the principal and 20 per cent. instructions from their Governments to comply with the request to hand over every year until the whole amount is paid. The Central Bank itself is offered the premises to M. Karakhan. It is not as security for the loan; and the syndi anticipated that the Italians will offer cate subscribing to it said to be Russi
ans.will have the privilege of appointing any objection, and there seems a chance that the matter will be settled before the departure of Mr. Seburmán to-morrow. HUGE DRUG HAUL AT SHANGHAI,
SUCCESSFUL POLICE RAID;
NO ARRESTS.
is
SHANGHAI, August 12th. Six Hundred and sixty lbs. of opium and more than $1,000 dollars in cash were seized yesterday afternoon by police raiding party, The, seizure one of the aragst ever made by the lice. It is believed that the raid hit af the invadquarters of a huge wholesale combine dealing in narcotics. No arrests Gloucester beat Worcester at Chelten wire made. When the police, reached the hany by 19. Gloucester scored 114, and place the premises were deserted, but then 150. Worcester compiled 114, Park-there was evidence of a hasty retreat.
taking 5 for 40, and then 89, Parker The opium is said to be worth ove taking & for 39 and Mills 5 för 90.
▪! 4』
The understanding that France is pre- pared to withdraw her troops from the Rühr a year after execution of the Dawes plan has caused an excellent impression
At Shetheld, Yorkshire beat Warwick- in Conference giretes. 'It is believed Ger-
shire by ten
wickets. Warwick compiled difficulties about many will Hot raise ang accepting the French conditions in this 170, and then 107. Macaulay taking 1 for connection, Which probably will embrace 60. Yorkshire scored 275 (Sutcliffe 90). 4 and then runs without the loss of N
wicket.
the conclusion of a Franco-German com- mercial agreement.
..
It is understood that Mr. MacDonald
have, before the conclusion of the Con-. ferente, an exchange of views with the Grunan delegates on' the question-of Gers man disarmament. in order to facilitate the undelayed resumption of the opera- tion of the Inter-Allied Commission for military control.
$50,000.
BIG LOAN FOR JAPAN.
Loscos, August 12th,
supervisor in the bank. So far the terms of the loan and the parties sub- scribing to it are unknown in detail. How much of the capital will be reserved to secure the note issue and what amount of notes is to be issued, no one knows.
THE AWANGTUNG VOLUNTEER
CORPS.
13.
The accused was committed to take his trial at the next Criminal Sessions.
As to repayment of debt, he said that Tospector A Hutchins said that this in proper grimstances would be a.m. on July itch he received information advantageous in increasing the supply of at Sham Shui Po Polier Station that capital available for business as well as armed robbery had taken place at the in maintaining the country' è sredit, but Cosmopolitan Docks. He went there, and
the evil effect of high taxation might be found the place in disorder. In the
such as far to outweigh these advantages. middle cubicle he found some wire.
It was true that taxation was drawn wrists of several people he saw bore
penditure on consumption, and that, when transferred to daht holders in re payment of debt it would. if reinvested, be wholly saved. Taxation, however, diminished the taxpayer's incentive to save, and if carried to extremes would destroy savings altogether. Moreover, it was not merely or chiefly a question of quantity. The eficient and productive. me of capital was of more importance. High taxes had a deterrent effect on enterprise, particularly on new enter prise Most was taken from thow who were using their capital most efficiently. Heavy taxation retarded the building up of reserves for the expansion of business both by entrenching upon the profits available for this purpose and by reduc- -
When ing the incentive to take risks. capital was displaced it was no compen- sation to the highly efficient firm or to the country that the total of the capital in other hands less capital of usings it well was not diminished. The ultimate effect of any great transfer of capital due to a big scheme of debt redemption must be seriously to impair the national
OBLIGING THIEF. OPPORTUNISM THAT LED TO-
GAOL
Charged at the Kowloon Magistracy yesterday with breaking into a shop in Kowloon City, and stealing clothing valued at $70. a Chinese admitted that be took the articles. He, however, denied henking in saying that the door was openg,and the clothing all there, ready for him to steal.
His Worship (Mr. E. W. Hamilton); And so you obliged t
Inspector Clark asked the Magistrate to take a serious view of the case, as a amber of burglaries had taken place in the neighbourhood of late. hard bour.
The man was sentenced to three months"
THE FLOOD MENACE AT
TIENTSIN.
prosperity.
Notwithstanding the disapproval of the Kuomintang Government in Canton for the amalgamation of the volunteer organ izations of the province
with.
Central Command, the Kwangtung Volunteer Corps will hold a ceremieniai parade as announced on August 13th in honour of the inauguration and assumption of con-
Mr. McKenna was questioned with re- gard to the effect of direct and indirect ntand by Mr. Chan Lim Pak. commander
taxation on prices. In reply, he said. in-chief, and, fr. Chan Mr. Tang Kai shek, Heutenant-comanders.
that a high income-tax applied to repay- to-chief. As a public support to the
›ment of external debt would involve a reduction in the volume of goods avail- popnia movement for home rule and to shows to the goverprovincial Merchants
'that Canton fo the Kwangtung
able for internal conateption, and prices would consequently tend to rise unless Volunteer Corps the Cantonese business BRIDGE OF BOATS COLLAPSES. there was a counter-balancing reduction' men will suspend their activities on August 13th and make it a general hol
DROWNING EIGHT MEN, in purchasing power. With regard to in- from the Bund to the former West Gate
direct taxation, the truth of the proposİ- day Tat whole Pacific Road runging
The Bridge of Boats, which had been tion that the tax on commodities was. of Canton City will be used for the precariously anchored close the borne by the consumer was unaffected by parade, and the Canton contingent alone Viceroy's Bridge, met with destruction gentral trade conditions. The tax might will have 5,000 men in line, not mention- on August 4th, and, unfortunately, in bebe regarded as an additional elment în ing those from the other 120 towns and ing destroyed it dansed the deaths of the cost of production. In conclusion. Mr. McKenna dealt with the ability of cities jointing the movement. The head-eight coalies. quarters of the Central Command in Iappears that the Bridge broke loose the producer to pechup himself for thes Water Melon Garder hare prepared in the evening, and was enrried down element. accommodation for 12,000 guests expect stream as far as the Austrian Bridge.
The ed at the ceremoney.
TUDE The
water was far too high to permit Electricity Company of Canton the boats to, pass, and the Authorities. will be
for the illuminations of the
or the and, as an officer of evening and, as
A $2,000,000 FLOTATION.
A message from New York says that a syndicate headed by the National City Bank annougers to offer to-morrow aw
EARLIER CABLES
PRESIDENCY CAMPAIGN
DEMOCRAT NOMINEE'S
الرحم
responsible
'to
NKED FOR RESERVE OF CAPITAL. Lord Huasdon, who also gave evidence,
$20,000,000 loan at 091 as a guaranteed Corps has rightly put it. the light to aged a gang of coolies to break the dealt particularly with the effect of the
utilised for general current purposes in Japan and to promote Japanese indus-
tries.
This
of boats up. It was soon appar-death duties and of the super-tax, and ent, however, that the task was beyond advocated the hecumulation of capital.
has agreed to M. Herriot's proposal to [REUTERS AMERICAN SERVICE) Japanese Government loan. to yield be displayed will make further darkness them. Unwieldly at the best of tinres the Assuming that half our population were rather more than six per cent., to be in Canton officialdom less successful floating bridge was quite out of hand with dependent for their livelihood upon our
famous in South
Part of it external trade, he said, our position ans so strong a current dowing cool es highly precarious. The increasing dis- The City of works, will present a capsized, and threw a China for its
It is believed that right ineliancion of other countries to take our, into the water. work which will last four hours, is but one of the many attractions con- were drowned. An attempt was then goods would, as population increased, nected with the day's events.
made to destroy the bridge by fire, hoses render our position still more precarious. being kept playing to prevent damage As the country was not self-contained, it TERRORIST TROOPS OCSTED FROM to the Austrian Bridge. Its destruction could recover from economic or other mise
KAUKONG.
was fully accomplished.
takes which might be made by itself or is customers only if a large supply of capital were available as a reserve. The necumulation of capital was also desir- able in order to lighten the burden of the debt by increasing the assets of the country.
Herr Stresemann conferred" with M. Herriot to-day on the subject of the mili- -tary evacuation of the Ruhr.
In the London foreign exchange market, dollars and franes further appreciated on Invourable Conference developments, and closed with sterling on New York at 4.55 and five eighths, and French franca, at
60.35.
ARMAMENT CONTROL.
A FRENCH SCHEME.
PARIS, August 11th.
PROGRAMME.
CLARKSBURG (WEST VIRGINIA), August 11th,
Mr. John W. Davis has been formally aecuted for the Democratic Presidential nomination.
STBEBIAN HAIL ROUTE.
MAY BE UTILIZED BY JAPAN,
LONDON, August 19th. The Post Office announces that mail matter for Japan as well as China may route if so be sent by the Siberian addressed.
In the course of a speech in which he bitterly reviewed the four year record of TWO the Government party, not sparing the association, he declared. unsavoury oll
A RADIO BROADCASTING CENTRE.
Natives of Kaukong now resident in Hongkong and Canton City will have a grand home-coming the next les days in MANILA AS order to participate in the reconstruction work necessitated by the recent terrorism of Dr. Sun Yat-gen's mercentry troops. The Merchants Volunteer Corps of Kau-ESTABLISHMENT OF RADIO-TELE-
PHONY SYSTEM PLANNED. and neighbouring towns have suc- ceeded in Canton inalle at mid-night of
the terrorist, who de parted for Bith, after August
huwing, destroyed age *
more than 250 houses, I volunteers and. local while the deaths among the mercenaries numbered not less than a hundred. tosal
to the town as result of
ef the last few include | under consideration by the various in- individuals so as to form a national res
The
Plans for the comprehensive extensica of radio-telephone and radio telegraph conununication for the Philippines are terests and the Government Departments concerned, says the Manila Times.
The question of establishing a broad sting station and making it of real use
ARMS FOR CHINA.
ARRESTS AT MARSEILLESeveral PARIB August 11th. The Marseilles police have arrested that there was no evidence that the Re two Greek sailors who bought arms and publicans could frame or carry out any ammunition which they intended to load Dr Sure's failure to control his then has to the people all over the Islands, and
or consistent foreign policy. on a ship bound for China. With the reconstruction of Europe weighing heavily on the world, with
definite
NO TONIC SO FAR.
PRESIDENT'S DANDAMEN DOING WITHOUT MONEK.
Ing
consin view the period dur.
The natural naligy to adopt, in Lord Hunsdon's opinion, would be to encou rage by every possible, means the adven- turing of money in opetting up, nhw enterprises, and also to encourage the accumulation of capital in the hands of The heavy disappropor- serve fund. tiviate taxation of the rich was unsound, because the rich were, in proportion to their incomes, the paving class, and their surplus income, when investeil, was re- en estimated at 21.200.000. rot includ-the creation of better facilities for com- served for the employment of the popula "loss, which must have been mercial radio messages from Manila to tion in the future as well as in the pre dur- ships in the China Sea and China Coast sent. For the opening up of new enter ing which the terrorism lasted. At a meet- stations, have been occupying the atteprises the private idventurer was neces
citizens an
the ton the authorities here for romsary. under the present system, by which, ing of prominent Kaukong citi
the Government took an large a propor“. morring of August oth in Canton it was time past. resolved to request the Canton Govern- It is anderstood that definite action tion of his reward in the form of taxa- ment to station no more troops in Katwill be taken for the immediate establish- tion for super tax and death duties, the.. kong in the future. It was also decided
ment of radio on the lines of combining A Peking News Agency says:-
to turn the ruined villages into a modern the commercial radi traffic with broad-adventurer had little inducement to
operate. ing by radio-telephony through the Lord Hunsdon thought that invest prohibit gambling, take
ments abroad were essential for opening A plan has been submitted with Band is reported to be beside himself due system and to the resignation of many of his best measures to repulse invasion by any musicians. Because their salary is some troops, and to take a complete, photo-out having been gone into detail which up new markets. They led ultimately to seven months in arrears, the musicians graph of the ruins and devastations has received the unproval of both these an increase in investiments at home. With have been cking out their, seanty funds caused by Dr. Sun's Yunnanese Mercen- in the industry and by the bureau of the present rate of taxation no large aries ir order to make a gift to him in posta. If it is found that no obstacles are private firma with money to risk in open... by selling fruit.
Suddenly, Mr. Davis promised a reduction of oddly following the murder of a appreciation of the part he has coutribus to be met a company is to be organized ing up new markets could hope to con
hastening a reform in this prosper immediately to carry on the operation of tinne indefinitely, as the death duties taxes and tariffs. He said the Democrats Bodyguard, no one was permitted to ous West River port, one of the centres broadcasting and commercial radios eper swallowed up their capital and the super-
of a production in South sincerely favoured the idea of a World sion, and the fruit business went to
leave the Palace without special permis the home-coming of the Kaukon Atating a high powered vacuum tube trans tax prevented the accumulation of capitat citizena hitter at Manila, serving as an outlet to to replace this loss. The present systems Court. He expressed the opinion that smash. Thereupon the musicians began from Canton and Hongkong, one of the the various stations now operated as au- was eliminating those who had
to resign, much to the dismay of the memorable spectacles will be the funeral xiliaries by the bureau of posts. At the themselves to be capable of increasing the the day was coming when the voice of bandmaster, who realised what a task it procession of 300 herees. During the same time this station will be able to wealth of the country. He suggesteik recent siege of the northern village of carry out radio, telephone hroulcasting that the present rate of accumulation of American public sentiment would be was to train new men. Finally heap Kaukong by Dr. Sun's troops, the dead which will reach not only to the furthest capital was insuficient to provide for heard in favour of membership of the pealed to the President, and steps i could not be buried in cemeteries outside. municipalities in the Islands but will also the great and increasing population of be taken to get engagements for the band Tht departure of the terrorists has now help to advertise the Philippines in China the country to form a reserve against in their own line.
made'it possible.
and in other parts of the Orient.
emergencies,
The commistion for the examining of American economic life dwarfed and the plans of the High Council of National stunted by the interruption of world som Defence has adopted unanimously a plan merce, with the agricultural regions of for organization of international control the west singking into bankruptcy owing in the countries subject to armament to the loss of foreign markets, we stood limitations, under the aegis of the League by as powerless spectators, offering to the world nothing but private charity and of Nations.
individual advise.
-1
M. Herriot said, according to Le Matin, that he will make this plan a
foremost one.
FLOUR PRICES REDUCED.
LONDON, August 11th.
The London four millers have reduced the price of standard grade four by
two shillings, to 48/5.
League of Nations.
12...
The bandmaster of the President'stowo, to inaugurate a self-government & new transmitting station in
ted