HONG KONG DAILY PRESS, MONDAY JULY 24, 1933.
SILVER SALES AGREEMENT REACHED
IN LONDON
INDIAN AND SPANISH OUTPUT
LIMITED
WILL IT STABILISE SILVER POSITION IN CH NA?
CERTAIN TEXTUAL ALTERATIONS
STILL TO BE INITIALLED
London, July 23.
It is understood that a silver sales agreement has virtually been reached, and, it is expected, will be signed
to-morrow.
Later.
It is learned that all countries concerned, except Bolivia, have signed the agreement regulating the sales of silver, but certain textual alterations remain still to be initialled by Dr. Yen and Mr. Bruce. It is expected the text will be published to-morrow.
ounces
SATISFACTORY TO EASTERN
CIRCLES
|
PURCHASE AND WITHDRAWALS
SUGGESTED U.S. TRADE POLICY
REDUCTION OF EXISTING BARRIERS
"
ROUND THE WORLD IN 187 HRS.
FINE FEAT BY WILEY POST
New York, July 29 Wiley Post arrived bere 4.59 a.m. British Summer Time, near- ly twenty-two hours ahead of his previous record. The flight oc LONDON, July 22, THE United States suggested procopied 187 hours., M
gramme of commercial policy sent to the World Economic Con- ference by the United States Se cretary of State, Mr. William Cordell Hull, to be developed dur ing the recess and during later stages of the Conference, lays down that the Governmente represented at the Conference, "undertake to. reach agreements to cease erecting new trade barriers and for the pro- gressive reduction of existing bar riers.
The agreement regarding non- imposition of new barriers is sub- ject to reservations, including ad ditional duties on dumped goods.
Earlier. Progress," EDMONTON, CANA A, July 29. Wiley Post, the American flyer, reached Edmonton, hie last stop ping place, st 2.07 p.m. (3.8.T.) today after & fast fight from Fairbanks, Alaska, p
Post resumed his fight at 5.40 p.m. (B.S.H.), taking of for New York on his final hop.
Fiane Repaired.
Fairbanks, Alasks, July 22, Wiley Post, the American air man, landed here at 9.22 p.m (B. S.T.) last night, having com- The agreement will be open for adhesion by all Governments and plated his hep from Flat Airport will come into force when accepted in 2 hours, 54 minutes.
Following his crash at Flat on by Governments representing 50 per cent of the world's interna- Thursday afternoon, when he dam tional commerce.
aged the undercarriage of plans while attempting to land with a broken propeller, Post or- dered immediate repairs, and was in the air again at 6.28 p.m. yes- terday.
It will be of indefinite duration, but one year after enforcement it may be denounced at one month's notice.-Reuter.
RESTRICTION OF PRODUCTION
LONDON, July 91. In it's Plenary session last even ing the Economic Commission of London, July 23. plus the sales above referred to, the World Eonomie Conference re "Reuter learns the Silver by the Government of India un-ceived the report of its rapporteur, Agreement provides for the der, this Agreement amount to Mr. Walter Runciman, President limitation, for four years, of the 175,000,000 fine ounces, the ob- of the British Board of Trade.
The Chairman, Dr. Colijn, read Indian output to 35,000,000 fine ligations of parties hereto cease.
letter from the Chief United annually, and Spain
States delegate, Mr. William Cor 5,000,000 ounces. All other pro-
dall Hull, expressing the hope that ducing countries have agreed to
The Governments of Australia,during the Conference recess, Gor. ernments, through diplomatic and buy in a total of 35,000,000 Canada, the United States, Mexi- other channels, would produce sub- ounces from the mined production co and Peru during the existence stantial proposals towards fulfil in their countries, thereby offset of the agreement shall not selling the fundamental purpose of
the Conference. ting the sales from India and any silver and shall also, in Spain.
aggregate, purchase or otherwise arrange for withdrawing from the market 35,000,000 fine ounces of silver from the mine production of such countries in each calendar year for four years, beginning January 1, 1934. The said Gov. ernments undertake to settle by agreement the share of the said 35,000,000 fine ounces which each shall purchase or cause to
The Agreement is regarded in eastern circles as most satis factory providing for the stabilisa tion of the silver position in China, while not precluding India to carry out her policy of selling her surplus on an appropriate scale.
The Agreement was entered into by delegates to the World
be withdrawn.
Silver so purchased or with
Economic Conférence from India, China and Spain as holders of large stocks or users of silver, drawn to be used for currency and Australia, Canada, the
reserves) or otherwise retained from sale for four years.
Mr. Hull enclosed & proposa]" of a possible agreement, for a pro. tracted truce against the measures restriction to international trade,
During the discussion of the re-
port, the Australian Minister in phasise that Australia, although London, Mr. Stanley Bruce, em- willing to co-operate in seeing what action could be taken in regard to
particular commodity, was not prepared to subscribe to the prin- ciple of the restriction of produc won, which he maintained would not achieve the general objective of the Conference.
his
He still has hopes of establishing A new record for, the round-the- world fight.
When forced down, he was 31 hours ahead of the 1831 time, when he and Harold Gatty established a record of 8 days, 15 hours, 81 min utes.
اير
Fort, who left New York on Se- turday last, was twice delayed by bad weather. He plans to make only one more landing (st Edmons ton) before reaching New York.- Rester..
MOLLISONS SET OUT
ON TRANS-ATLANTIC FLIGHT
Pendine, Wales, July 22. Mr. James Mollison and his wife, the former Miss Amy John- son took off from here on their trans-Atlantic flight at noon, to day.
COMMUNISM NOT CONQUERED IN
LIMITATION OF RUBBER GROWING
PROSPECTS OF AGREE. - MENT IN SIGHT
Amsterdam, July 5%. THE well-known rubber producer, |-*** M. Burger, states that the prospects for the success of rubber restriction are very favourable.
On the other hand, it is not anti- cipated that the restriction will be carried out before next year, or that the British territories will ac cept potential production as a basis. for restriction, but rather the actual export Agurea.
It is confirmed that Dr. Waala, Chief of the Economic Department of the Colonial Ministry, is in Lon- don with the Dutch Premier, Dr. Colijn, with a view to participating in the restriction discussions.
The Dutch members of the Inter- national Working Committee are now in London-Reuter
THE ELLERMAN ·
CONCERNS
4
To Continue as Before
LONDON, July NEWSPAPERS here understand
that all companies and enter- prises controlled by the late Bir John Ellerman, the famous ship owner, reputed to be the wealthiest man in Britain, will continue as
before, ample provision having been made for this measure. British Wireless Service:
*
WORLD'S LARGEST
GRAVING DOCK
PREPARATIONS FOR OPENING CEREMONY
London, July 23. The King and Queen will leave London to go aboard the Royal Yacht, Victoria and Albert, at Portsmouth an Tuesday. They will remain on board during the Cowes Regatto.
GERMANY
CAPT. GOERING TO INTRODUCE DRASTIC BILL
DEATH PENALTY FOR ANY ACTION AGAINST THE STATE
"
ALARMING DISCONTENT AMONG STORM TROOPS
Berlin, July 23. Death will be the penalty for any action against public officials and Storm Troops, also for the distribution of so- called atrocity propaganda imperilling the dignity or exis tence of the State under a Bill which will be submitted to the Cabinet, announced Capt. Georing after an emer- gency meeting of Ministers, Governors and leaders in Ber- lin for which Capt. Goering hurriedly returned from a holiday.
ALL NAZI PAST OFFENDERS TO BE
PARDONED
Captain Goering added these measures were necessary because it is, becoming evident that Com- munism, which is an enemy of the State's, has only been partly quered.
There will be a new special chamber of public prosecutors to ensure that death sentences are carried out as speedily as possible, regardless of extenuating circum-
@tances.
All Nazi offenders in the past will be pardoned, but it is implied that henceforth nauthorised acts
will be an offence against the Nazi State.
ADVICE TO NAZIS
Berlin, July 23, joined the Nazis and having
An allegation that “spies" have.
them to ill-treat their opponente
give colour f in order to
atrocity and lies is made in Nazi Party circular calling members to free themselves fro any possibility of recontaminati by such subversive elements, claring that any Nazi who in future lends himself to activities will be put into a com
centration camp. Reuter
Capt. Goering's thurried return was a sequel to the alarming dis- THE VATICAN AND content among the Storm Troops, owing to Herr Hitler's declaration that the "revolution bad ended.
1
On Wednesday Their Majesties-Reuter will, from the yacht, open the
FURTHER PROVISIONS. new graving dock at Southamp
The Bill which Capt. Goering Thousands of children will be is submitting to the Cabinet pro- on the decks of the Canadian vides the death penalty for at-
tod
GERMANY
PRIESTS TO ABSTAIN FROM POLITICS
BERLIN, July 22
United States, Mexico and Peru Purposes (coinage or currency of the discussion, the text of the the Atlantic to New York, and Pacific liner Empress of Britain temping, inciting, assisting or THE Concordat between German
25
the principal producera of silver. #TERMS OF AGREEMENT.
CHINA'S OBLIGATION.
The Government of China shall not sell silver resulting from de. monetized coins for four years, commencing January 1, 1934.
SPAIN...
It refers to the resolution un animously passed at the meeting of Sub-Commission Two of the Monetary Commission on July 20. In regard to such Agree- The Government of Spain shall ment, it says that, whereas, the not dispose by sale of more than Governments of India and Spain 20,000,000 fine ounces of silver may desire to sell certain portions in the four years, commencing of their silver holdings, and it January 1, 1934. Her disposals would be to their advantage that for each year of this period shall countries which are large pro- be based on un average of ducers of silver should absorb 5,000,000 fine oudces each year, silver to offect such sales, and, but it is understood that if in whereas, it is to the advantage any year the Government of of large producing countries that Spain does not dispose of sales of silver from monetary 5,000,000 fine ounces, the differ- stocks of silver should be limited ence between the amount actual and it would be to the advantage ly disposed of and the 5,000,000 of China that sales from monetary fine ounces may be added as addi- stocks of silver be" offset. tional disposals during subsequent by purchases with a view to its years, provided the maximum effective stabilisation.
disposed of in any year is limited to 7,000,000 fine ounces. EXCHANGE OF INFORMATION
The Governments concerned
shall exchange all information necessary for the fulfilment of the Agreement. The undertakings by each party are conditional upon the fulfilment of undertakings by every other party,
was set up to realise, in the light is a proposed direct flight across Aspecial Drafting Committee The Mollisons' present venture
commission's report. British Wireless Service.
probably, a return non-stop cross- ing to Bagdad. Reuter,
U.S. PUBLIC WORKS PROGRAMME
JF
DRIVES TO SECURE HIGHER WAGES.
WASHINGTON, July 22.
IT is understood that President
Roosevelt does not contemplate any action in connection with the spectacular break on the Stock Ex- change. He considers that undue attention has been paid to the fluctuation of stock prices
With the object of raising the purchasing power of the workers, President Roosevelt is pressing for ward the gigantic public works programme, while the Director of Administration, General Hugo S. the National Industrial Recovery Johnson, has urged the Chambers of Commerce in all the larger towns to örganise community drives to secure the adoption of a temporary voluntary code for hours and wages-Reuter
VAST WAR LOAN CONVERSION
PLAN APPROVED BY:
COMMONS
1
SILVER MARKET
· (From Our Own Correspondent)
LONDON, July 22. 'FOLLOWING ARE THE SILVER QUOTATIONS ON THE LONDON MARKET TO DAR 2
"
July 22 July 21 SPOT.......... 17.15/18 188 FORWARD...... 18.1/16 151
THE LONDON ON NEW YORx CROSS RATE TO-DAY WAS: £1- *$4.69
LINDBERGHS AT GODTHAAB
"AFTER BEING HELD UP
BY: FOG
NEW YORK, July 27. THE Lindberghs have arrived at Godthaab, Greenland, front Labrador.
British
and the Vatican, signed on
out the forecasts.
and 4,000 will line the quay to planning to kill public prosecu witness the ceremony.
tors, police or Storm Troops; for July 20, and released to-day, bears Wireless,
treasonable writing, inciting against the State or infringing The most important Articles are against the those whereby Germany guaranteem regulations and
freedom of conscience for Catholic formation of parties or associaism and the Church, but forbids tions. Reuter,
priests any political activity.
GANDHI'S LATEST PLAN
WORK AMONG THE ** UNTOUCHABLES "
POONA, July 22. A NEW secret plan for Civil Dis obedience is being prepared by Mahatma Gandhi, st Ahmedabad. authoritative in According to formation, the object of his visit to his Ashram Training College, is to rally 200 students to support the plan.
Gandhi, it is understood, is de- manding the highest standard of discipline from his followers, in- cluding celibacy and undertaking work actively amongst the "Un touchables. Reuter. E
WAR RELIEF IN NORTH CHINA
INAUGURATION OF COMMISSION
PEIFING, July 22 The North ChinaWar District
Gen
It exempte priests from any ob ligation to betray secrets revealed in the Confessions). *
The present constitution of the German Church is preserved, and ita title and property is guaran- teed.
Administrative freedom is defined in a series of Articlën," one provis ing that Catholic officers in por manent. office in Germany must be German subjects. Attendance of service and access to priesta 187 guaranteed to all member of the Reichswehr-Reuter.
Relief Commission was inaugurat- ed yesterday morning, in the pre- sence of seventeen members. erai Huang Fu was in, the Chair..
Djang a Directors of the three sco The Indian Congress has, for the Although in a very weak conditions of Emergency Relief, Rüzg time being, suspended the mass tion General Ho Ying Ching Rehabilitation and Finance, respec Civil Disobedienes campaign, but managed to attend the meeting tively are permitting individual dia and administer the oath to mɛm-
The Commission has already re obedience as from August 1-Reibers on behalf of the Central Govceived a willian dollars from Na
ernment.
doking for relief work and it The meeting elected Mr. Yu float bonds to the value of 84, Houah Ching, Z.8. Bien and Y. B. in North, China.
ter.
MR. SOONG AT BERLIN
A MOST DISTINGUISHED
STATESMAN."
INDIA'S QUOTA. Therefore, it was agreed the Government of India will not dispose of by sale more than 146,000,000 fine ounces of silver in the next four years com- mencing January 1, 1984. Disposals during each calendar year during the said four years will be based on an average of
Forced Down at Hopedale, 35,000,000 fine ounces
SUBJECT TO RATIFICATION. & year,
LABRADOR, July 22, The agreement is subject to but, it is understood, if in any
LONDON, July-21.. Colonel Charles Lindbergh and year the Government of Indis ratification by Governments con- ON the proposal of the Chancel-Mrs. Lindbergh took off from here does not dispose. of 25,000,000 cerned. The instruments of rati lor of the Exchequer, Mr. yesterday, for Greenland fine ounces, the difference be-fication to be deposited not later Neville Chamberlain, the House of A message from Halifax, NovaTHE Chinese Finance Minister, tween the amount actually dis- than April 4, 1984, with the vote to the Government resolu- that they had been forced down at Commons yesterday passed by 131 Sectia, three hours later, stated posed of and the 35,000,000 fine Government of the United States, tion approving the conversion offer Hopedale, 150 miles away, owing ounces may be added as addition and it will be enforced as soon to holders of 20-year, 53 per cent. to fog-Reuter al disposals in subsequent years, as all ratifications are received, gold bonde due in 1937 under the provided the maximum amount provided they are received be terms disposed of in any year is limited fore April 4, 1934. to 50,000,000 fine ounces Reuter.
of the War: loan of G8250,000,000 raised in 1917 by the British Government in the United Notice by any Government States-British Wireless: that affirmative action necessary to carry out the purposes of
RETIREMENT OF BISHOP MOWLL
BERLIN, July 2
yesterday. He was welcomed by
Mr. T. V. Soong, arrived here representative of the Government and the staff of the Chinese Lega tion, the bar visit, it 20
The object
stated, is to make contracts with ports in Berlin and Hamburg with industrialists - and -'économic ex-
a view to closer" economic co-opera- tion between Chinese and Germen industralists, who are hoping for profitable orders as a remist of Mr. Soong's visit
The German -nowepi Deuter
PAYMENT OF WAR DEBTS,
the Agreement has been taken which ratify, that they are pre-
PRIPING, July 22 It is understood that if the will be accepted as an instrument pared to purchase or cause to be THE result of the Conference here between the Bishops of China, Government of India post date of ratification, but if one or more withdrawn, in aggregate, the the Agreement to sell silver to of the Governments of Australia, amount of silver laid down in the under the Presidericy of Bishop che Allgemeine Zeitung, any government for the purpose Canada, the United States, Mexi: Agreement for these five Gov L. Norris was announced this Mr. Soong As Ons of the
when Bishop Mowll, of distinguished statesmen and evening,. of transfer to the United States co or Peru fail to ratify by April ernments.
Szechnen, said that he had accepted seeing politicians of our tast Government in payment of war 4, 1984, the Agreement will come
The Government of the United the Arch-Bishopric of Eydney,In no country will he and
more complete understanding debts, such silver shall be exclud into force then if the remainder States is requested to take the Australia ed from the Agreement.of these Governments which have steps necessary for the purpose of He is returning to Szechven on the portion of his people, than Provided, however, when the ratified notify other Governments the conclusion of the Agreement. Monday to wind up the affairs of Germany, which, like China, has to his Diocese before leaving for fight, hard for national restora- total disposals above referred to, (Continued at foot of next col)
Sydney-Reuter
tion, the paper adds-Reuter
-Beuter
DRUGS
HIGH CLASS DRUGS
TOILET ARTICLES
PRICKLY HEAT POWDER PRICKLY HEAT LOTION
QUEEN'S DISPENSARY
Des Voeux Road, Central
Phone: 24636.
Open Sunday 10.