HONG KONG DAILY PRESS, TUESDAY, JULY 14, 1931.
FINANCIAL RUIN RATHER THAN GIVE.
WAY TO FRANCE.
„BRUENING CABINET TAKES FIRM STAND
REGARDING FRENCH DEMANDS.
"
SENSATIONAL FALL OF REICHMARK.
[THROUGH REUTER'S AGENCY.]
London, July 13
There was 'n senintional drop of the Reichmark in London 'tos. day. From Saturday's 'quotation of 20.53 the Reichmark feil- to 31. to the pound sterling at 12.80, p.m., in consequence of the German financial situation,
Otherwise there was no general rush to sell securities on" the Stock Exchange although most prices were marked down as a pre- cautionary measure;
BERLIN, July 13.
Alter snatching five hours' sleep the Cabinet resumed this morning the consideration of the. Anuncial crisis, and later issued an emergency decrce in the form of a guarantee in favour of the Darmstadter Bank, which prohibits proceedings against the bank. Other banks, though not subjected to a "rün," are paying out more than usund and have decided, not to cash clients' cheques above a certain amount, which in some cases, does not exceed" one hundred marks. Meanwhile a favourable sentiment prevails in Government circles.
Herr Luther left by air for Basle where he will interview the governing body of the Bank of International Settlements, and it is confidently suggested in Saancial quarters here that the Bank, jointly with Wall Street, will grant Germany credit for £00,000,000,
LARGE GERMAN BANK SUSPENDS
PAYMENT.
BERLIN, July 12.
The German Cabinet has been in almost continuous session sinco
noon
PARIS JAPAN NON- STOP FLIGHT.
WATCHFUL WAITING CAPTURE OF WEST
ABANDONED.
RIVER BANDITS.
PUNITIVE EXPEDITION AGAINST CHIANG,
POLICE AND MILITIA RAID OUTLAWS' LAIR.
(THROJOM BEUTER'S AGENCY.)"
Moscow, July 12.
Le Brix and Doret, few· Over Moscow at 7.30 p.m..
LE BOURGET, July 12.. The French airmen, Le Brix and
·Doret,, took off at 4.43 am, today in their attempt to fly non-stop from Paris to Japan, to set up & new record for a long distance fight...
The proposed route is via, Brus sels, Moscow, Nijininovgorod, Eka terinburg, Kransiaraka, Chita and Mukden, and thence to Tokyo,
FRANCE SHIELDS
FRONTIERS.
HUGE SUMS FOR DEFENCE OF COUNTRY.
NAVAL PROGRAMME IN CHAMBER.
Paris, July 3.-By a vote of 277 to 24 the Senato of the French Parliament to-day approved an appropriation to cover the expensea
(From Our Own Correspondent.)
CANTON, July 13, The National Government in Canton have decided to launch a punitive expedition against Nan doning its policy of watchful king through Hunan, thus aban waiting." The Fourth Army Corps under General Li Tsung Jen has been ordered to leave Kwangsi for certain plans. General Chang Fat southern Hunan in accordance with Fui's Ironsides will form the nucleus of the vanguard of the southern armies marching north ward with the Firat Army under General Tu Han Mow, following. The latter will leave Shinkwan when the time is opportune.
Chang Fat Fai is still on the sick list in Hong Kong, out is being prevailed to return to his post in Kwangsi
П
Reports are current here that General Chen Ming Shu, former Governor of Kwangtung and ataunch supporter of Chiang Kai Shek, is loading the two "crack" divisions into the East River dis tricts, pretending to march to Fukien where the Communista had flad. His intention is not to invade Kwangtung but to drive out the Communists and outlaws from Futzien. These elements, he said, had fled there from Kiangai where vigorous campaign is being
A
of a vast French frontier förti-directed against them. fication programme.
Bimultaneously M. Charles Du mont, the French Minister of Ma rine, presented to the Chamber of Deputies the eccond naval build- ing programma for 1931.
American ALL,
The naval programme as pro- [BEUTER'S' AMERICAN SERVICE.]
santed by Minister Dumont pró- WASHINGTON, July 18. vides for the construction in 1932 Mr. Castle, the acting Secretary of four cruisors of 7,500 tons each. of State, has issued a statement to It provides for the construction of the effect that United States banka 2,400 tons destroyer and a 1,600 era are prepared to assist in reliev-tons torpedo boat. ing Germany, but are leaving, the, The introduction of the second leadership to the European Contral building programme by M. Du. mont follows. the action of the Banks representatives, a meeting Senate in approving on Thursday the Reichsbank,, together with lead for which purpose is being held at an appropriation to build right
Barle to-morrow.
warships in accordance with the terms of the fret anval program
yesterday, discussing the French demanda for political con ressions in return for co-operation in the international effort to save the Reichsbank from collapse.
Simultaneously, the Reparations Committee and the Directorate of
ing private banks, have been con ferring.
Some of the latter joined "the Cabinet's meeting to-night, at which the Government finally resolved not to submit to France's demands for
blackmail.
Guarantee for All Deposits. [THROUGH REUTER'S AGENCY.]
BERLIN, July 13. White the Bruening Cabinet has
a cessation of warship construction been sitting in conference all and the abandonment of the Austro-through the night discussing the German Customs Union, which was details of an emergency decree described as the worst kind of which is to be promulgated to-day, tho Darmstadter and National Government Backed by People. Bank, one of the biggest and most The Government feels that it is important in Germany, announges backed in its attitude by the that it is compelled to suspend majority of Germans who would payment. rather face financial ruin than give way to such demanda.
го.
This is the first time that two naval building programmes have Parliament in the same year. It been prosented to the French
of two programmes is due to the is understood that the presentation delay in consummation of the Frazeo-Italian nogotiations for a
naval accord.
On June 2 the Chamber of De adopted the frontier fortifications puties, by an overwhelming vote, programme which the Senate np- proved to day.
Frontier Fortifications..
The Government has informed the The appropriation bill for fron Directers of the Bank that on the expenditure of 2,400,000,000 francs. tier fortificationa provides for the basis of the emergency doeros to The appropriation will only parti. be issued, it will guarantee all de-ally defray the expenses for the
eastern frontier. defence fortifications on the French Ever since" the close of the World War France has been steadily at work fortifying her frontiers in an effort to protect herself from all possible invasions.
There is every reason to believe that Dr. Bruening will prevent eatastrophe, but he must arrest the posits in the bank and attend to the Reichsbank-the the orderly liquidation of its rapidly increasing withdrawal of affairs. foreign credits-by to-morrow. ~
** run "
The Prussian Ministry of Com- merco has ordered all Stock Ex changes in Prussia to close down
There appears to be no truth in the rumour thas France also de manded the dissolution of the Steel on July 19 and July 14 and it is Helmets, of which President Hin-understood that other, Federal denburg is the President.
States will follow suit, the object bring to prevent a completo col lapse on the stock marketi
Both Britain and the United States have been informed by the Government that the Bruening Cabinet would rather resign than accept the French demand..
And the alternative" to the most stable and most capable govern ment Germany has known for years will be a furiously Nationalist regime with disastrous consequences in Europe.
Masiing of Private, Credits, (REUTER'S AMERICAN SERVICE]
NEW Youx, July 12...
Chase
Biggest Bank Crash for Hany Years,
The French naval programme is being hurried because of the com suporeruiser at Kiel and the laun pletion of the second German ohing of the sixth Italian cruisor of 10,000 tons. The first section for the construction of 45,000 tons of the Franch naval" plans called
of warships to be laid down within a year. And now the second see tion of the plan is before the Chamber of Deputica.
BERLIN, LATER,
In addition to the fortifications appropriation approved by the Government circles fear, a gouer. Senate to-day France has already at "run" on banks as a result of spent 1,428,000,000 francs ba the the collapse of the Darmstadter great ring of fortifications. along the Belgian Gorman, and Italian- Bank, which is the biggest bank frontiers. Engineers now feel that crash to have occurred in Germany the total cost will be nearly four
for years,
The Bank, which had a capital of £3,000,000, paid dividends of 8 per cent last year and from 10 to 12 It is believed that Washington, por cent, in provicus years official circles favour the massing It has 7,000 employees, and the of private credits for Germany Managing Director, Jacob Gold- through Morgan's, the
schmidt, it regarded as a financial National Bank and the National genius, City Bank of New York, under the aegis of the Federal Reserve Bank
"Unctuous Briand."
[TUNOCAH NEUTER B AGENCY.]
BERLIN, July 12.."
The whole Press is becoming in- oreasingly bitter against France
The Bank is known to have been heavily involved in the recent col -lapse-of-the--North German wool concern, but the suspension was most unexpected.
Another Bank Crash.
LATER.
milliard Trancs before work is dis. continuel. The greatest seersey is maintained about the project, den. pite the fact that police have re Gently arrested three bands of spies who had succeeded in drafting most of the fortifications as laid out.
Engineering Projects
Of the now credits 200,000,000 franes will be spent on artillery. and 2,010,000,000 francs by engine. ers in the actual building,
RAILWAY REVENUE FOR WAR PURPOSES.
(CENTRAL PRESS WIRELESS.]
(From Our Own Correspondent.)
CANTON, July 18. Thanks to the smart work of the
ECHO OF KOREAN RIOTS.
BOYCOTT OF JAPANESE
· GOODS" SUGGESTED.
(Wah Tee For Pao.)
STOCKTAKING AT GENEVA.
REVIEW OF THE LEAGUE'S ACTIVITIES.
Geneva, July 5-The year's work of the League of Nations, well bo rounded out during the months of NANKING, July 13. Canton police detectives in co that the Central Kuomintang Head-announced at the Secretariat ta- It is learned from party circles the September Assembly, it was July and August for submission to
band of brigands which pirated plan purported to encourage operation with local militia, the quarters at Nanking is outlining a day. the Kwong Lee Hing junk on the popular movement against Japan League's most important ander It is expected that several of the West River last Monday ed down and finally rounded up the Japanese Government in re-receive their final form during the
was track.as
a means to bring pressure on takings during the past year will yesterday in their fair in the gard to the question of compensa present month. vicinity of Tai Wo Shi, somo la totion to Chinese sufferers in the so miles north of Canton,
information ment,
world's actual medical and scientifia needs will still be able to launch an international convention on the subject:
The Secretariat is confident that rocent anti-Chinese, riots in, Korea. the League's. International Confer When the Canton police force The boycott of Japanese goods will 'ence for the limitation of the menu- and the local militia were ap-be the principal part of the move-fecture of narcotic drugs to the proaching the stronghold of the outlaws, Jollowing secretly furnished them by the in- habitants nearby, they were met with a fusillade from the bandits and a brisk fight followed, which lasted nearly five hours. The ban dits fought with the greatest bravery from their lair, and it was only after their ammunition had been used up and a large number of their comrades killed that they were forced to yiold,
Bixteen Bandits Killed: four taken prisoner. The rest fled Sixteen bandits were killed and in confusion, leaving their gums and ammimition behind. Both the dead and captives were taken to Kong Chuen to be disposed of Two machine guns, seven Mausers, fire revolvers, and seven rifles and n quantity of ammunition were taken
General Situation, quiet.
SHANGHAI, July 13, Seoul, Mr. Chang Wer Ching, the
According to a
report from Chinese Consul General at Seoul,
has had a preliminary exchange of views in regard to measures to be taken to safeguard Chinese inter- eats in Korea and fair compensa. victims. tion to be given to the Chinese
The general situation in Korea in quiet, but there are still thousands
of Chinese sufferers.
session since the latter part of May, but despite the conflict of interests The conference has now been in
of the varinus nations, members of the League are still sure concrete
Two other exceedingly important results will be Êttained.
League commissions are also hold ing their final sessions this month.
Status of Women,
One of these, which for the first time in the history of the League
from the bandits and brought back COLLAPSE IN TEA PRICES. is composed exclusively of women, _to_Canton,
The Polico and militia, made
will summit a final report to the September sasion of the Council
a thorough search of the village OVER PRODUCTION BLAMED. and seembly on the vexing ques-:
[THROUGH RIUTER'S "AGENCY,};
tion of nationality in the case of women married to foreigners,
and the mountains nearby. Seven- teen persons held for ransom were PEIPING, July 13.
found and released. These people The Nanking military headquar- were passengers of the pirated
It is understood that the commis- ters have ordered the Lunghajunk mentioned above, who had Railway administration to, hand been kidnapped. In another place
sion will take the viewpoint of the tary expenses, it was learned from machine gun bullets, were dis over $200,000 every month for miliix dead bodies, all riddled with
AMSTERDAM, July 12.
leading American women's organi- Too great an extension of plant-zations on the question. This is to an authentic source today.
covered in a well. Upon being ing was blamed for the fall of tea the effect that whatever solution ja Nominally the money is to be naked the inhabitants paid that prices by Mr. W. C. Laudon, pre adopted for ultimate codification used for construction of the Lung-they were also passengers of the siding at the annual meeting of the by the League into international ward, and the 2200,000 is to be killed them to show the rest of Dutch East Indies Tea Growing law, it must be on a basis of abs deposited with the Ministry of their prisoners that they meant Ansoriation, hai Railway, from Tungewan west-rated junk. The bandits shot and
Railways which in turn will hand over the money to the Nanking and a corporal were killed and A captain of the Police force military headquarters for expenвçв to carry on the campaign in Kiang.three soldiers were wounded. si and other purposes.
This matter is drawing the at- tention of the Belgian Legation in Peiping, as the construction of this line was largely Snanced by Bel- ginn interest..
In diplomatic oircles here, it is pointed out that vatil now the Ministry of Railways had never utilized its revenues for military or other purposes than the develop ment of the railways
WEATHER REPORT.
Yesterday's weather report, forecast and, remarks, issued by the Royal Observatory at 3.45 p.m., stated
The northern depression is moving E.N.E. across S.W. of Japan. The Tongking depres sion is stationery."
Local Forecast:-S. winds, moderate; generally cloudy; cocasional rain.
MURDERED WOMAN.
SON FOUND GUILTY BUT
INSANE;
HenryWilliam Hurley, aged 20, of Northway-road, Addiscombo, Surrey, was found guilty, but, in- 2 and ordered to be detamed during his Majesty's pleasure, when he was charged at the Old Bailey Hurley was helped to a chair in
with the murder of his mother.
the dock, AAST
business.
solute equality for the two sexOS
it would be in the interest of the husband should, is insisted, be He expressed the opinion that The woman who marries a foreign
growers not to extend their plant.subject only to the same laws of ings even if times improved, nationality as the man who marrica CANTON AND THE MUI-TSAIociation is considering proposals
The committe of the centra, ax- a foreign woman. lor the restriction and centralisa tion of sale and for continuously consulting with British growers,
PROBLEM,
NEW REGULATIONS TO 'BE INTRODUCED."
(Wah Ter Fat Pao.).
THE FAILURE OF GAMAGE'S (WEST END),
·SHAREHOLDERS ASK ABOUT THE GUARANTEE.
Even more important is the com mittee of co-ordination of the Euro pean Union Commission which is ecmposed of one, delegato froth àll the twenty-six European nations that are members of the full com- mission.
CANDON, July 13.
Pan-European Project. A regulation intended to correct the abuses in the agod-old muï-tani
This committee in August will co- system in Canton is expected to be
ordinate into final form for sub- promulgated by the Office for Social
mission to the September: meeting. Affaira Canton, and it is similar to that in principle adopted by the Gamages (West End), Limited, was the League Council and the assembly The cause of the failure of of the European commission itself, Hong Kong Government, except revealed that the buying of mini-fans is allow-moeting of creditors."
at the first statutory all of the various projecta' that had able in the future under strict con
been proposed for Europe's econo- Mr. Naunton (Assistant Official ditions provided in the regulation. Receiver) said the original plans mic amelioration, There have all for the building were not approved been studied recently by expert sub- by the London County Council; committees.
MORE CHILDLESS MARRIAGES:
SCIENTIST POINTS TO PERILS
OF BIRTH RATE DECLINE.
fresh plans had to be prepared, and
the change resulted in an increased
of the work
They include the Soviet proposal
cost of £231,468, without taking any for a pact of economie non-aggres account of indirect losses caused sion; the disposal for the surplus by a year's delay in the completion European wheat stocks, short and The company's total expenditure long term credits for industry; in to the date of the completion of the ter-European loans for industriak and mortgage capitel store was £1102,124, while the share and commercial purposes; and the £975,000. There was thus a defici-
was only furthering of international cartelst
The International Union for, the Scientific Investigation of Popula- tion Problems continued their con-ency, then of £187,124 and nothing in the various industrica ference in London last month.
available for working capital. Besides these more important Mr. Naunton anid that Messrs League commissions, still other Professor F. H. Hankins, a dele-Selfridges, who murottaaed the Bate from the United States, said:tock, paid for it £83,000, or about
19 por cont. below cost price Since: 1850 there has been a pro- The meeting appointed Mr. 8. E. gressive increase in the
Gillett as liquidator. percentage of childless marriages in all socia! clance of Western pooples, but this is more pronounced in city than in country, and in upper classes than
in lower classes.
Sir Percival Clarke, prosecuting, said that Hurley lived with his "Speaking generally, there is mother, Mrs. Annie, Elizabeth associated with the decline of the Hurleg, aged nearly 60, and a tro-birth-rate an increase of neuras- ther aged 16)
On May 5 the three had dinner, thenia, pervous breakdowns, in- and between 2.30 und 3 p.m. Mrs, sanity, suicide, and much evidence Hurley was seen in the gardon, of mental strain." apparently happy and well.
during the month will wind up the questions of European unemploy year's work for the League on the
ment; international intellectual co- sions of the latter, ceration and various sub-commis-
Mr. Gamage Questioned. A shareholders' meeting followed the creditors moeting, and Mr. Erio Gamage was naked by a
The only important meeting dur shareholder: "Were you justified in ing the month of August, before the ther. and giving them a cocktail bo the League's Central Opium calling certain shareholders toge Council and Assembly meets, will party when you know the concern Board and the European Union was bankrupt.1
Mr. Gamage?
This was
fashion parade for three evenings,
a committee.
and as micane of attracting it was successful The money, and get trade. it was small money, was spent to
This great sum will permit en gincors to continue to build the At 3.55 Hurley arrived at the Dr. G. W. Kosmak mid that large
He is not only managing director aula containing hospitala, kitchens, told the officer in charge have liability rather than an assh A concreta trench system, with deg South Norwood, Police Station and families were now regarded as a
of this company, but of the Hol The Prospectus Guarantee,
barn Company. He has a duty 'not derp, sleeping quarters where whole strangled my mother with my
only to you but to his other share) regiments can be stcred away too bande. She is now quite dead and group of physicians had listened too prospectus and a shareholder uld having been made it is bound to be Questions followed regarding the bolders at Holbern, and a claim, doop to be reached by shell fire. etill, I did it about an hour ago" much to the clamour of birth conI invested my money purely on sifted by the liquidator, and doubt" There are concreto machine gun A doctor found Mrs. Harloy trol rather theat to the lens populer, the words 'Divided unconditionally lees a decision will have to be taken - The Democratic journal, Boersenam, this morning, without issuing ground magazines for the storing beneath her head. In Hurley's bod
The Cabinet adjourned at 3.30 coire enormous field pieces, under- across hor breast and a piller appeal of "birth relief.
pill boxes, gun pits ready to re dead in bed with her arms folded
guaranteed by A. W Gamage, in the courte,ne qi Courier sums up the general view,
An amendment calling for the Mr. Gamage replied that the said: "We are all sorry, to the Mr. HP. Russell, Boxley Heath, ingacy statement and is resuming the of high
and gas shells was found a man with a slickact Tegalist the unctuous Pan-European Bricad discussion later in the mornings,
barb treich Lools, ride, Fin it.
rus was wdwn op dy, Chlu Tson of old Mr. Gamage. In this of wishing to 250 credit aid to The Bank of Geneva has closed which will have to be renewed malice aforethought. It was done mental deficients
ammunition and food supplies Hurley said, "It should not be tion
fent counsel, dag van prevent the
ase of Mr. Croisé (34r. Gamage's solici- our sympathy
position, and you, Mr. Eric, have break Germany's political backbone owing to big losses in France. Its every year, including canned msate in a moment. I was going to
defeated at tor) Mr. Gamage is no desire Mr. Gamage: Thank you, and to bring her into permanent liabilities are said to exceed and vegetables, dried fruita, and commit suicide through continuou the National Council of Women's to shelter himself behink anybody." subjection.
million pounds sterling.
hard tack
He is in a most difficult position,cial Receiver as liquidator with a The mosting appointed the Off- trouble at home.”
once in Aberdeen.
(Vontinued on next Column.) (Committee of Inspection.