THE HONGKONG DAILY PRESS. SATURDAY, JUNE 27TH, 1925
NORTHERN SITUATION IMPROVES.
"ANTI-FOREIGN STRIKE COMES TO AN END
IN
SHANGHAI. ·
SEVENTY PER CENT OF THE SHOPS OPEN
THEIR DOORS AGAIN.
(THROUGH REUTER'S AGENT.]
ANTI-FOREIGN STRIKE ENDS.
SHANGHAI, June 28th:
This morning's developments terminate! the anti-Foreign strike in Shanghai but do not affect the industrial strike which in virtually a boycott aimed principally at the British and Japanese, The Chari- ber of Commerce last night formally te quested the re-opening of the shops brinks of which 70 per cent acquiesced.
At o'clock crowds in the streets wat ched the distribution of IChamber of
MILLE LENGLEN.
CONGRATULATED BY THEIR
MAJESTIES.
LONDON, June 25th.
GREEKS IN REVOLT,
PANGALOS MASTER OF THE SITUATION
SALONIKA. June 8th. At Wimbledon to-day the weather was The garrison officers have formed a sunny, with a cool breeze. Frocks and military government under the prasid parasols replaced the furs and macking oney of General Pungalow and have taken toshes of yesterday. There was a record possession of all civit and military in Attendance of 22,000, no fewer than 7,000 stititions. The despatch adds that the being refused admission." A dense crowd whole of Greece is reported to be in the In one instañes they threw me in had gathered long before the start owing throes of revelation, the feet having
in a inos interesting programme and the joined the movement. The police hurried to the scene nud expectation of Their Majesties being pre- dispered Floters."
There is no Otherwise all is quiet. change in the shipping situation.
the eyes of the tram-driver,
“DAILY MAIL'S” DEMAND..
LONDON, June, 28th.
11
The Daily Mail, in a leader pointing out the increasing seriousness of thr situation in China as a result of Bolshevik eforta, complains that Soviet delegation is being permitted to remain in London
་་
sent.
The King and Queen arrived at 4 plm, and received a tremendous ovation.
"
CAUSE OF THE TROUBLE.
SILVER EXCHANGES,
CHINA'S MONETARY SYSTEM.
remarked
11
Eastern LA
banker
ARTIFICIAL SILK. SOME NOVEL AND CHARMING.
DESIGNS.
FOR SUMMER FROCKS, There are also delightful novelties for summer frocks. naong them a cottob
(NY WILLIAM Y.- SPALDING...].
Artificial silk has had quite a revolo- tionary, influence on textiles, ite fascinate Eastern exchange is silver, and ing sheen producing many entirely navel silver is Eastern axchangh,"
once effects, while its moderate cost has placed who numerous lovely fabrics within the range: a probed tep into the reasons of the woman with only average means. for the insatiable appetite of the The very latest,ided is a menrf of silk, East for silver. Although only two georgette printed with an embossed plush countries remain out-and-out adherents design in artificial silk in a contrasting to the silver standard (China and Hong colour. The pile of the plush is reversed China India, and a few more which have ends fall side by side in front both kong), there are others, Sinn, Indo in the middle of the scarf so that as the & strong regard for the metal. They catch the light on the pattern. Exquisite.. deal largely in silver, though they bar colourings are used, the pala shades linked their currency to gold by the being Wedgwood bine, salmon pink and adoption of the gold exchange standard map with a rose design in silver; and ATHENS, June 8th.
-n system in which gold need not neces in darker tones are beige or unstia The former War Minister and Com-sarily be in circulation, and very fre grounds with the embossed, pattern in There was an inter-Colonial battlepon 12ander-in-Chief, General Hangslos, quantly is not; but the circulating nigger brown or copper. These scarves medium of exchange-silver token coinsjare made in a very wide width, to be the centre court. in which Anderson it present master of the situation in with a plentiful supply of notes thrown used as theatre wraps, and in a narrower in-is kept at something approaching the one which is made up into lovely tunis (Australia) beat Spence (South Africa), Greece and there has been no bloodshed. parity of exchange with gold standard frocks for afternoon and evening wear. by 6-3, 9-10, 6-2, 6-3.
The truculent attitude of Yugo-Slavia countries by Government control, or, sa some term it, Government manipulation The Arst of four Americans was knock towards Gregen in the recent negotiations of the foreign exchanges.
out when the Canadian, Mayes, de undoubtedly encouraged the Army and Silver enters iule the daily life of the feated Lucien Williams, 8-4, 6-4, 6-il.
action of the Navy to overthrow the Chinese as much as any other commodity georgette in almond-green with artificial The metal is used as à measure of value silk blister" ripes in two widthr Another American competitor went Cabinet of Michakopoulos, who at of commodities, both in internal and in placed alternatively, and a pale salmon to pay in silver for his purchases what check in the same colour. These large Commeren handbills which were viewed! wife the Moscow Government is spending down when Gilbers defeated Garlan 86,titude, especially towards refugee Deexternal trade. The Chinaman expects pink - georgette with a large fancy line pities, made him unpopular. It is ever be their gold value in the centres line checks are very smart, the line gene
He also re- Mile. Lenglen cut a clear path to the announced that the military combination from which they emanate.
quires parmest in silver no matter what rally woven in a tiny check, or facquart pattern American women in particular the paper demands the clearing out of final by defeating Miss Ryan in the easiest responsible for the overthrow of the be the gold price of his exports. Fur favour them, especially such patterns as Bolsheviks from England.
a rather heavy cotton crêpe with n amall. manner by 6-2, 6-2. This match took Governmen: has entrusted M. Papanasther, the Chineso do not view silver as a
measure of value in the sense that we close line check in artificial silk. place before a packed crowd on the centre tassion with the formation of the new view gold. Apart from the exchange be- luxurious-looking evening fabric court, which was thrilled by the winner's Cabinet General Pangulos ha. reserved tween silver and gold, as silver, is a com almost as metallic as a lame, but made
modity, its value rises and falls accord- to himself the right to assume a porting to local conditions. If there, be of artificial silk and cotton, is found in A wonderful copper tone. The same silk. large supply of the metal in one and cotton, mixture is seen in Ottoman folin.
SITUATION CALM.
viner and a senrcity in another, silver in the first province will appreciate to crepe, both coarse and fine, in a beautiful ATHENS, June Auth.
In degree almost unrealisable in Western pomegranate colour and other shades. countries. The price level of commodities Another fabric just out is a course plain The city is now obviously accustomed in the place where silver is scarce will crêps of artificial ailk nud cotton made in seventy-five. lovely colours, among depreciate in an even greater ratio L'or to the coup d'état and the general public each, occasion that it is profitable to which the beige and cinnamon tones are is strangely unmoved by the dramatic transfer gold from one country to an inexpensive substitu
An inexpensive substitute for the strip- events of the day which moved with asther it is many times more profitable toped spun silk has been produced this maye silver from one Chinese province to season nade of artificial silk and wool. tonishing rapidity and secrecy simultaneanother.
Found on,white grounds, parti ously at Athers and Salohika, culminat COMPLEXITY OF CHINESE TRADE. cularly attractive one having wide stripes
formed of narrow pink and blue lines. ing in General Pangalos, accompanied by
There is little wonders that trade in his stuff, establishing himself at the War and with China is a complex subject, Ministry. He issued a manifesto in the Besides the problem of baying and selling finance of China. These coins were in- goods, the merchant has the ever-present 'fight for their country, so appeal to the effect to their recent Factory Aes so as votes to 5 declaring that a rigid eight evening stating that be was merely carry-anxiety of buying and selling silver. troch:ced about the middle of last cer→ patriotism of the militarists and spleet to raise the general conditions of Chinese hour day is impracticable, but each camanded the redemption and purification men, though Eastern Exchange backers between foreigners, and the native mer-
LATE
large sums in inciting ignorant Chinew-1, 64. mobs to murder Britons
*
HOME TRADE UNIONS IDEA.
"LONDON, June 25th,
The General Council of the Trade)
grace and brilliance.
with some suspicion, but in order to the public confidence in them, delegation consisting of the Foreign Commissioner, the Prefect in Chief of the Shanghai-Woosung Constabulary, the Chinese city, magistrate, and repre- sentatives of the Chamber of Commerco
In the third round, Lacoste bent Lycett and federates unions made a procession Union Congress and the National Ex-3, 4-6, 7-5 6-4; and the American, through the streets in motors bearingcutive of the Labour Party at a joint Hennessy, beat Crole Reas 6-6, 2-6, 4-5, flaga inscribed “Shops should be opened. areting in London, pawed a resolution 6-4, 6-d. The Government takes full responsibility for negotiations. After this the hesita tors per their doorn."
STUDENTS. BM IDEAS.
SHANGHAI, June 8th. A meeting of the hanghai Students' Union, yesterday, afternoon resolved to <appeal to students all over the country to learn the art of war and be ready to
Iecturers to arouse moldiers
declaring that, the disgraceful working During the Lacoste Lycett match on the conditions in Chinese mills are the in-centre court, Mile. Lenglen was presented medinte cause of the present disturbances to Their Majesties, who complimented her in China. The resolution expressed then her victory. opinion that immediate steps should be taken to carry out in the Treaty Ports
LONDON, June 25th. the recommendations of the Shanghai.
The International Railway Congress in Child Labour Commission and assist the Chinese Government to give general London has passed a resolution by 20,
the people und werkers. It also stated that the extrater ritorial regime was provocative and A programme for wide student „de- į dangerous and should be ended as soon monstrations yesterday "wis largely a fason owing to official prohibitions, while precautions in Shanghai completely frustrated the student aetivities.
Many Volunteers and "Special"", have Been withdrawn from the streets which appear normal this afternoon.
Two Japanese destroyers from Pes
cadores have gone to Amoy and Canton. -ROWDIES STILL ACTIVE.
SHANGHAI, June 8th.
서
Later this afternoon several crowds of strikers and rowdies entered the Foreign settlement from Chapel and stoned and
stopped trains,
CABLES.
LATEST CABLES. THROUGH REUTER'S AGENCY.]
LITTLE" HSU IN GERMANY,
BERLIN June 28th.
General Hen Chu Cheng dined at the
Chinese Legation.
11
possible by an International Con- frener, on British initiative, saying the proposed conference on Chinese tariffs gives an opportunity for such Initiative in respect of um Treaty Ports,
...
B.A.T.'S POSITION,
WASHINGTON. June 25th
Following instructions From China wot
RAILWAYMEN HOURS.
should he
examined on its querits.
HOME. GOLF.
OPEN CHAMPIONSHIP BEGUN.
The situation is now quite
FRENCH POLITICS.
It
ing out the wishes of the people who de is this double process in every transact, and as an adjunct to the ordinary tion that so bewilders Western busines Chinese currency, came into general ex chants. Dollars. however, have never have done much to make their path effectually replaced tals, despite nume of Greece.
easier. In the West we are used to nxj
rous attempts to reform the currency. cálni.
changing goods on the basis of a commu The monetary unis, if unit it be, remains measure of value gold. In the Eust, to! use the words of a Chinaman, You ex- the tacl, and to-day it is the recognised change commodities other than silver ruedium for banking and wholesale trans aptions. The taes of silver circulates in SOCIALISTS SUPPORT CABINET with silver as another commodity which the form of amali inguts or shoes of
commodity is then exchanged with other
These pieces of silver are of $5 cec. goods. Hence the confusion that sur different shape and size, and some of PARIS, Jade 25th.
rounds the problem of Eastern exchange them weigh as much as 50 thels or more Although the Government emerged Large profits have been, and continua la It is not a matter of chance that Sino- successfully from the Moroccan debate, be, made in trade with China, but all too
frequently both exporters and importera foreign trade is so largely carried on The leaders at the end of the morning owing to the majority of the Socialists mean to be drawn into the currency chaos, through the medium of sycee silver, but found were Jim Barnes, New York, with rallying to the support of the anti-Com and all too often their trading ventures one of necessity. Sycee silver is the only
PRESTWICK, June 26th. The Open Golf Championship over 12 holes (33 to-day and the sune to-morrow! opened in glorious weather. There were
competitors,
to ship tobacte" until the situation has 0. a record for the course, Sid Wingetemanists, this is not taken to indicate become invested with a speculative ele-accepted medium of exchange of which
deared up, American Consuls have been (Temple Newsham), and Josh Taylor, that a similar attitude will continue. instructed to inform the Chinese that they Mid-Surrey, scoring 74: will chiefly hit the American producers when they refuse to buy goods of the
The Americans were overshadowed in British American Tobacco Company.every way. Macdonald Smith's afternoon round was of machine like precision his card reading, 3, 4, 4, 4, 3, 4, 4, 5, 4, 3, 3, 5, 4, 4, 3, 4, and 40
Henter", "Amerionn Servier.
40
HARLIEVABLES.
HOUSE OF COMMONS.
THE SILK DUTIES.
Losbos, June 25th..
In the House of Commons, replying Mr. Cecil Wilson, Mr. Winstor Churchill said that silkworms which had not reached the cocoon stage and silk- worm gut inade by the silkworm before that stage was reached, were not liable.
cord. He afterwaals retired.
At the end of the afternoon round the leaders were Macdonald Smith with 145 (he broke the course 'record with 69) and Harnes with 147.
LATEST CABLES. REUTERS AMERICAN SERVICE.]
AIR BRIGANDS.
ROB BANK AND FLY AWAY.
New York, June 26th. A Kansas City message states that two bandita travelled by peroplane to Lin The next best scores were:-Compaton colnville, robbed a bank, and few off
berry) 'Wingate (Temple Newsham) and aeroplanes. W. Davice (Preston) 182; Taylor, Mitchell and Ray, 153. Other prominent players were Duncan, 156; Havers, 187; and Kirk wood, 162,
vient.
DOLLARS, TARES AND SYCEE.
trade can be sure of -getting a
free supply, and thus the casting. of silver into whoms of sycee goes on merrily: *
EXCHANGE "TRANSACTIONS:
The Chinese Minister in a speech refor duty. He added that the silk duties (North Manchester) 151; Fernie (Turn-The police are pursing' them in militarym a similar basis, simply because silver and silver, the price of one of which is
were first liable at the cocoon stage.
MAIL CONTRACTS..
Of temptations to take risks with silver The Socialists are marking time, pend. there are many and if in addition w the ordinary chances and changes of ing the framing of definite intentions markets a merchant clocents to take the
The most important rate of exchange towards the Left Cartel which will be more serious risk of exchange, then his
operations resolve themselves into gan is that between Shanghai, the principal determined at a meeting of the Socialist bling transactions, wherein neither ex-monetary centre of China, and Londos, pert opinion appears to guido nor cau- and by common consent ne elsewhere in National Council on July 19th. M
tion to protect him. Silver is the rock the East, it is the rate for telegraphic. Caillaux's financial proposals remain the on which the business of many mercan transfers. Exchange is quoted at so much The per Shanghai tael. If it be 38. 1: inuicäter tile beuses has come to grief. The veteran Taylor holed out his rock on which 3 split with the Govern- moral, then, is for exporters and import that for every tael of silver paid to the second in one hat" was afterwards in meat threatens.
ers to leave the business of silver and ex bank in Shanghai that bank will pay over change with the exchange barkers, whose in London three twentieths of a sovereign trouble. He did 74 and 79. On the con-
job it is to lay down funds for the financ- as soon as the telegram has been received. by its London branch. The exchange trury the Troon player Murdoch, his part-
ing of trade in the Ecar
bunker arrives at the price for his tele ner, took fourteen for the first hole in the
graphic transfers in this way. If Great Britain is the country with which dealings afternoon, which is a championship re-
Western merchants frequently ask why are taking place, the reader will realise business cannot be simply conducted with that one can arrange for gold to be taken the sure and certain knowledge thie the to the Royal Mint with the certainty that requisite bumber of dollars, and tags the fixed price of £3 778, 101d. will be will be forthcoming. Why should I be paid for each standard ounce of gold. at the mercy of the market in silver? tendered. With silver no such convenience. And why should the value of the dollar exists. Silver is the variable factor, and or the tael rise when I have to pay it since the rate of exchange expresses the those units, and fall when I have sold equation between these two factors, gold bas. fructuated?" asks the merchant: fixed and that of the other variable, it The chaotic state of the Chinese mone follows that the rate of exchange with. tury system is one cause, the variation China is intimately connected with the in the price of silver another. Bofors Butations in the market price of silver. the Chinese Revolution and the inter-The main consideration with the banker mittent strife that has followed it the is necessarily the rate at which he cam silver problem was grave, but China did cover his sales of bills or telegraphur then seem to be within might of a uni- transfers. Ordinarily he can cover by the fication of her monetary system. But remittance to London of export hills pur- although the dollar unit has made some chased in China. If the supply runs WASHINGTON, June 25th.
progress, China ia still a long way from short, or he cannot cover by dealing the adoption of a standard in which through other centres, he has to resort The HAVE June 28th The Italian
nwar debt to America money will pass by count. Operations to silver shipments. In practice the The Anglo-French and Belgo-German wrounting to 82,138,000,000 wha formare conducted on the basis of a weight of banker will not sell his gold bills on Lóns silver and not by counting, the pieces, dan at a higher exchange that is to him Governments have invited the Dutch ally discussed at a first Conference to The bulk of her business is settled by a lower silver price-than that at which diplomat, M. Patijn, to preside over a day by the Italian Ambassador, Signor means of the tael of silver, approximate he can purchase the equivalent quantity ly equivalent to 11 oz avoirdupois. In of silver elsewhere and import it into Mixed Commission in Berlin to decide De Martino, the Italian banker, Signor Ching the tael, which is not a coin at China, and that is why he will not hay differences arising from the execution of Alberti, Mr. Mellon, Secretary of the all is nominally the measure of value merchant'e geld bills at a lower ex It is a messure of weight as well, and change or higher silver price than the Replying to Sir T. Bowater, Mr. A regulations arising out of the Dawes Re-United States Treasury, and Mr. Wins all; that it represents to the native is a equivalent quantity of silver would fetch M. Samuel said that British Coupons of port in regard to the occupations of the ton, Under-Secretary.
Chinese ounce of silver of varying dein terms of gold, lens cost of exporting the metal for sale in London or elsewhere. grees of purity. Of teels there are many,
that the Hukiang Railwng isage 1911 had re-hhineland,
The utmost secrecy is being maintain and in consequence there is no Exity of With China, then, the law is the
ht change is always topding to the Fequatio cently been paid. He was not at pre-i
ed, but a well-informed report states that value, Tals differ in new between gold at its mint price and silve
· FINANCE, BILL.
www and exchangeable value in practically sent in a position to make any statempat
Italy is seeking more favourable terms every part of China. Each centre or at the price of the day. Consequently with regard to the position of Briti
LONDON, June 25th The House of Commons agreed to the than hitherto accorded to other debtor province works works independently of silver is the primary basis on which rates holders of the Bonds of the German is third reading of the finance Bill, after nations, which are alleged to include a own tael weight, and each feel differs the Hongkong dollar riss too if silver
every other centre; ach maintains its are fixed, and thus if the price of
rises the value of the, Shanghai teel and of this and other similar fons beyond the rejection of a Labour motion for its lower rate of interest thin Britain is more or less from the loal of other places, falls in price, exchange quickly, follows
rejection, by 208 votes to 99.
There are tacks for Customs purposes giving an assurance that His Majesty's
paying, also a considerable moratoriam tuels for wall tholy for, antian, cloth, suit. In practice, exchange may not follow the Anctuations in silver immediate representative at. Peking would continue
DUTCH AEROPLANE CRASH. (reportedly to be for tell years). Ameri- others for cotton yarn, and still others lyor exactly; it may even, keep at
for raw cotton, while for the buying and to take every opportunity to press the
can officials' intimate that they will not selling of silver still another tal is used. respectful distance from the price of the Chinese, Cavernment to remedy the de
make any concessions with regard to in- Mexican dollars are frequently mascal but sooner or later the one will terest, but a light concession is possible tioned in connection with the trade and and so it goes on day in and day out
be seen to be drawing nearer to the other Jault
with regard to a moratorium,
Tipes Trade Supplement,
called Gen. Han's sympathy towards Ger- mans in China in wartime. Gen. Han tribute to the high technical and socienti-
LONDON, June 25th.
Sir Mitchell Le standard of Germany paid Berr Replying to Mr. Albery, § Stresemann referred to the fact that Gen. Thomson said that apart from the Irish Hau's son begun his studies in Germany mails, the only line under contract with and dwelt on the common interests of germany and Chinn, which should bring the two countries closer together,
CHINESE COMMUNISTS.
ELEVEN DEPORTED FROM FRANCE
PARIS, June 26th. Eleven Chinees have been deported and others arrested on the Belgien
frontier.
MINES BILL PASSED.
CAPSTOWN, Jupe 28th. The Assembly passed the third readi of the, Mines Bill by 44 votes to 37.
the British Post Office is the Peninsular and Oriental, which provides a ser vice to Australia, Egypt, India and the Far East, for an annual payment of £295,000.
CHINA BONDS.
LONDON, June 25th.
THE DAWES REPORT.
MIXED COMMISSION IN BERLIN.
La BouxGET, June 25th A Dutch agroplane from Rotterdam crushed near Le Catean. The pilot and three passengers were killed.
EARLIER CABLES, ITALY'S DEBT TO US. NO CONCESSIONS TO BE MADE AS TO INTEREST.
(Continued on next Column)
ex