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HENRY FORD'S COMMENT ON
PRESIDENT'S MESSAGE
Money Has Been Overplayed As
A Recovery Factor.
Washington, Mar. 7.ezona
Employers are in solid opposition
HONG KONG DAILY PRESS, THURSDAY, MARCH 8, 1934.
COTTON TALK
IMPASSE
17
Short Breathing Space
London, Mar. 7.” There was a definite impasse in this morning's meeting of the Anglo-Japanese textile delegates, but in view of the gravity of the problem, the conference was ad-
to shorter hours and higher wages FLETCHER BILL Fourned until to-morrow.
on the ground that it will result
in increased prices which consum- ers oppose.
One of the major difficulties in the conference of the NR.A. Code authorities in discussing together labour's
industry complaint is houting the collective bargaining of the clause discriminating be- tween north and south, between male and female wages; and the general complaint of non-com- pliance with the Codes.
There are Indications that President Roosevelt himself intends ordering a reduction in hours, and an increase in wages of ten per cent", excepting in cases where hardship" is proved.
|
Disastrous In Its Present Form
Washington, March 7. Mr. Dickinson, "Assistant Secre- tary or commerce, "declares that the Fletcher-Steagall Bill will be disastrous in its present form and mean an immediate liquidation of $730,000,000 worth of securities to meet marginal requirements.
He favoured the creation of a to separate government agency supervise rather than regulate exchanges.-Reuter.
It is understood that the ad- journment will result in communi- cations between the Lancashire Delegation and the British Gavera- ment.-Reuter,
4:
BROADCAST SPEECH BY MR. BALDWIN
Advice To Schools
London, Mar. 6.
this afternoon, Mr. Baldwin ex- In a broadcast address to schools
pressed strong belief that dictator- ships, whether from right or left, would not flourish in British soll where democratic institutions were He admitted that a indigenous. dictator might do much when in power but one thing he could not do was to create another dictator. was carried in the House of Re-When he went, chaos often result-
Mr. Henry Ford, commenting on President Roosevelt's last message, declares the only way to engage The Fletcher-Stelgall Bu, per- more men is to create more markets mitting the continuance of the use and make increased employment of government bonds as collateral profitable as money has been over-security for Federal Reserve Notes, played as a recovery factor.
HUGE DISBURSEMENTS BY R.F.C.
Impetus To Recovery Programme
Washington, March 7. The Chairman of, the Recon- struction Finance, Mr. Jesse Jones, has announced that the Corpora- tion is prepared to disburse, with- in two months, U.S. 3777,000,000 in | preferred stock purchases and loans to banks for the purpose a affording an impetus to the re- covery programme...
The R.F.C. has authorised pre- ferred stock purchases totalling
presentatives in the teeth of op-ed. He appreciated that the young
position from Democratic "insur- gents" It was approved by the Senate and forwarded to the Pre- sident for signature last Saturday.
were always in a hurry, and pos- Sibly those two allen growths, cominunism and fascism, might ap- peal to some of them. Britain was
free country in which either creed might be supported in safety. but he believed that if British
SUGAR PRODUCTION AND people in great numbers became
MARKETING
British And American".
Statements
London, Mar. 6. The London Conference on the production and marketing of sugar, summoned by the Bureau of World Economic Conference, held its second sitting to-day when statements were made by Lord Plymouth, Parliamentary Under- Secretary for the Colonies who was
adherents of either communism or fascism there could only be one end to 1-civil war,
Adjuring youth to take its share in' responsibilities of public life. Mr. Baldwin said, "If you do so, use your common sense, avoid logle, love your fellowmen, have pro- found faith in your own people. glow the hide of a rhinoceros and you will find all. adventure you want, for it is indeed endless- British Wireless.
U.S.$1,019,000,000, but the actual yesterday elected Chairman, and FLOODS AFTER
disbursement so far is US.9477,- 000,000,
likewise
by the United States, delegate. The latter based his statement on The Corporation has
the message of President Roosevelt authorised loans totalling U.S. to Congress on February 8 and on 8685,000,000 of which U.S.$450,000,- 000 has been poid out:-Reuter,
the bill introduced into Senate four days later.
Lord Flymouth stated the British Government adhered to the pro-
N.R.A. PLAN TO INCREASE posals made at the time of the
EMPLOYMENT
Further Reduction Of Working Hours
~1
New York, March 7. The re-employment of at least 1,000,000 hore workers in private industry is the minimum of the immediate, goil, is the opinion of the National Recovery Administra- tor General Hugh Johnson,
He believes that out of 600 in- dustries surveyed per cent. are
able and probably willing to fur- ther reduce working hours with- out reducing wages, and that the reduction will be sufficient to ab- sorb 1,000,000 new workers.
The Labour Committee of the House of Representatives, has unanimously voted for a flat 30-
ex-
World Economic Conference, cept for some smali adjustment of export figures applying to non-self- governing colonies.
Governments represented at this preliminary conference are United Kingdom. Belgium, Cuba, United
States, Hungary, Java, Peru, Po- land, Czechoslovakia and Yugos- lavia-British Wireless,
OBITUARY
Hon. Mary Pickförd
don, March 6. .occurred of the ary A. Pickford,
The death Honourable Conservative M.P. for Hammer- smith North.
A daughter of the late Lord Sterndale, Master of the Rolls, she was formerly a Factory Inspector
BLIZZARDS
New York State Threatened
New York, March 6, Widespread floods are threatened all over the country as a result of the spring-Like weather after the recent blizzards.
The large accumulations of snow
41
re thawing, and swollen sivers towns and farms, forcing the eva- in New England are inundating
cuation of numerous riverside dwellinga.
Three children have been drown ed in the floods on the Connec- ticut River, whère workmen are dynamiting the ice-jams in order to ease the situation.
Scores of cammunities in New York State are threatened
submersion.
with
the rate of a foot an hour, while The Hudson River is rising at
the flooding of Alleghenny River: Pennsylvania, is sweeping away bridges and houses-Reuter.
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hour week in all N.RA. industries, under the Home Once and had subject to modification in the case been a member of the Historical of labour shortage and emer-Section of the Committee of Im- BIG" ORDER FÖR /** TIGER gencies.Reuter.
DEFENCE OF INDIA
Controversy At An End:
perial Defence. She was also a member of the Departmental Committee on Education in Rela- tion to Industry, and was techni- cal adviser to the 'Government delegates -at the international [conferences at Geneva in 1927 and
1928.-Reuter.
MOTH"
By British Air Ministry
London, Mar. 6. The British Air Ministry has placed a substantial order for De Havilland "Tiger Moth "" light biplanes which will form the equip- ment of certain Royal Air Force
NO PEACE IN EUROPE
Without Belgian Security
Brussels, March 7. An important pronouncement In the Senate on German rear. mament was made by the Pre- mler, Count De Broqueville.
He declared that the Powers re- cognised Germany's right to equality and, 13 recourse to force 15 excluded, there re- mained £ way to friendly regotiation in the convention to
limit armaments.
11
There will be no true peace in Europe as long as Belgian security is threatened, and for the sake of peace the Belgian nation is making sacrifices almost beyond 15strength.
The Government: pledges itself to use its utmost efforts to con- clude a disarmament convention with minimum sacrifices and s minimum of guarantees. "In that aim we can count not only on France but also Britain and
Italy," the Premier added. Reuter.
SILVER MARKET (From Our Special Correspondent)
London, March 7. Following are the Silver Quota- tions on the London market to- day:-
March 6 March 7 Spot............ 20.9716-201 Forward 201 20.7/16 The London on New York cross- rate at the closing to-day was G85.07.
BANK FAILS IN CANTON
Hit By Banknote Crisis
NEW AIR PORT IN LONDON
Scheme In Final Stage
Landon, Mar, 7. The final stage has been reached in preparations for the presenta tion of a Bill to Parliament to obtain sarction for construction of an air port covering King's Cross- and St. Pangras Stations.
The company promoting the scheme states that the aerodrome will cost £5,000,000 and will mean employment for some years to 9,-
INVITED, BY NANKING
General von Seeckt
Sails
Berlin, Mar, 7. General Hans von Seeckt has left for China in response to Chiang Kai Shek's invitation.
CANTON VIEWS ON MANCHUKUO
Telegram Sent To Nanking
(From Our, Special Correspondent)
Canton, March 17,
He refused to make a statement before his departure,--Reuter.
An earlier cable stated that Blaming the Nanking authorities according to the Berlin correspon- for fallure to put down the regime dent of The Times," General von in Manchuria leading to the coro Seeckt, creator of Germany's post-nation of Henry Fu Yi as emperor War Army, and its former Com- of Manchukuo, the South-west 000 workmen, and will be used, it mander-in-Chief, had accepted the Political Council and the South- is estimated, by 1,000 people cally. invitation of the Nanking Govern-west Executive Committee of the The scheme has received the ment to go to China as Military. Kuomintang C.EC. in a circular
of the Air Adviser. general approval Ministry, the Ministry of Transport companies me and many railway British Wireless
THE GERMAN-POLISH PACT
(Special to "Hong Kong Daily Press") (By Telegraph, Copyright, Tele- graphic Messages Ordinance 1893. Received, March 7, 7.30 p.m.)
Warsaw, March 7. This morning the Polish Foreign
Minister, Dr. Beck and Minister
von Molake signed the agreement, putting the conclusion to the German-Polish Trade Pact and laying the foundation for normal healthy relationship between the countries. Transocean Kuo
two Min.
NETHERLANDS AND
BRITISH INDIA
Exchange Of Commodities Probable
London, Marrh 7. A telegram -received here from Amsterdam, yesterday, states that it is learned from. Batavia that important negotiations have been started for the purpose of secur- (From Our Special Correspondent) ing an extension the commer- cial relations between the Dutch East Indies and British India... Canton, March 7. The Ka 'Nam. Bank, which owas
It is considered probable here Imposing office buildingsem Tai that an exchange of Indian, tex- Ping Road South close the Bund, les against Dutch East Indies suspended business to-day being sugar, is contemplated.--Reuter. affected by the banknote crisis and financial stringency in bank-
ing circles. Mr. Lee Ying, a local lawyer, is appointed as receiver of this Bank.
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It was learned that the Bank
POLAND AND GERMANY
Special to the Hong Kong Daily
Fress" (Copyright).]
Warsaw, March 6.
DR. ALICE WYNKOOP
- FOUND GUILTY
Sentenced To 25 Years' Imprisonment
Chicago, March 7. 'Dr., Alice Wynekoop has been found guilty of the murder of her daughter-in-law, Rheta and has been sentenced to 25 years' im- prisonment.
The jury deliberated for only thirty-six minutes.
Dr. Wynekoop received the ver- dict quietly in her wheel-chair.- Reuter.
telegram issued last night demand- ed, the National Government » to make known its stand on how to cope with the situation,
While showing appreciation to the foreign Powers" for their re- fusal to recognize Manchukuo, the telegram criticised Nanking for concluding postal and rallway agreements with the Japanese and Manchukuo authorities and enter- ing into other secret pacts with them, thus alienating internation- al sympathy for China and an
to enlarge couraging the rebels their scope of activities
"For conniving at the conduct of the insurrectionists and bringing about national disaster, the re- sponsible authorities at Nanking must shoulder the blame," the telègram continued. "Worst of all" is the total silence of the Nation- al Government to recover those provinces, but on the other hand
U.S. NAVY BILL the recovery of the lost kingdom
CRITICISED
Would Only
Help Munition Makers
Washington, March 7. While Great Britain's new naval
is agitated at Changchun. This means that Manchukuo is spread. ing its hold to Mongolia and North China."
Expressing the fear that they will not stop until they have extended their power through- out the country, the eiren- lar telegram embastsed that Man- churia and Jehol are integral parts of China and called upon the pão- ple of China to rise up to over- throw Henry Fu Yi and his govern ment;
programme is little criticised here, the official view being that Britain 15 within her treaty rights, America's own new £154,000,000
According to the telegram, the Naval Expansion Bill, providing Central Authorities were scored for the building of six cruisers for being afraid of the puppet gov- 30 submarines. 65 destroyers and ernment at Changchun but were one aircraft-carrier in five years, urged to take a definite stand with was described by the Republican, regard to this "menace. "On our Senator Nye, in the United States part, we are willing to co-operate Senate, yesterday, as a "blustering, on this matter with a view to up- bullying Bill for the zellef of holding the territorial integrity munitions-makers." ...and independence of the country"
Senator Nye decicared that the the message "concluded. BI would ultimately cost the country over U.S. 81,000,000,000.
The Senate later passed the
Naval Expansion Bill and return-
ed it to the House of Representa- tives -for action on the. Senate's amendments, which include the A treaty of peace without an imitation of the profits of pri- is not bankrupt having sufficient nexations or indignities" is the vate contracts to 10 per cent, and property to cover the cash liabili-way the new trade agreement be- the stipulation that the Govern ties but as money is tight creditors tween Poland and Germany, which ment should build one-quarter of cannot be paid. The Ka Nam will be signed on Wednesday. is the more than 1,000 aeroplanes Bank once Owned property aptly described.
provided-Reuter. amounting to $3,000,000 including This is the result of months of three big office buildings which intense negotiations of an ex- are now sold and are known now tremely difficult nature and it ap as the New Asia Hotel, New China peared on séveral occasions, that it Hotel, and the Ka Nam. Torg would break down altogether. Building.
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The office buildings turned in good rent during the boycott per- lod of 1925-1926, but after that the and moved back to Shameen. The foreign firma vacated Ka Nam Tong
Bank has a row of houses at Tung- shan, but owing to business de- pression those fläts are mostly empty,
The agreement puts an end to nine years of extremely bitter trade warfare which arose when. by the Treaty of Versailles, Ger-
ty over her customs tariff. many in 1925 recovered sovereign- "Re- prisals" were taken and answered until finally the two countries were virtually economically cut off from each other. The economic dispute Success of the bank was due was intensified by constant pillti- largely to the Rev. Chang Lap cal tension, but when the Hitler Choy, a Baptist pastor, who was regime was instituted in 1933 he the founder and magaging direc- took the initiative in a policy of tor. Four years ago he was de- conciliation, hoping to bring to a tained on suspicion for the murder termination the regrettable econo- of La Heng, the cashier of the mid warfaré-Transocean Kuo Min. Bank Then the Bank began to lose the confidence of the public and was in bad shape until it sus- pended business to-day.
London, March 7. The death occurred from
The banknote crisis is a serious pneumonia after a short illness of
impediment to trade. Many bänks the Hon, Mary Pickford, nged- 50; / units.
and big firms were adversely affect- Conservative Member of Parlia These machines resemble in size ed by the depreciation of govern- ment since 1931 for North Ham- and general appearance the well- ment notes This winter about mersmith, London.
known Moth" touring planes ten native banks were bankrupt, She was an expert on industrial which are flown by amateur pilots involving à loss of over $5,000,000 conditions and had been Techni-all over the world, but they are to creditors and depository. cal Adviser to the British Dele- designed for the carriage of com gates at the International Labour prehensive military load and the
London, Mar. 7. A question which on occasions Conference in Geneva. Two years performance of every manoeuvre during the last half century has ago she was went to India as a in the repertory of the service pilot. been a subject of controversy was member of the Franchise Com- Power is supplied by a single 130 settled last night when the ouse raittee and had recently been a horsepower" Gipsy Major" of Commons allocated £1.500.000 regular attendant at meetings of cooled engine and full provision is towards the cost of the defence of the Indian Joint Select Committee made for flying by instruments
in London,-British Wireless,
alone without help of outward vision.
India.
The Secretary for India stated that the agreement on this amount reached between the British and Indian Governments after long negotiations was a reasonable set- tlement of the difficult problem.- British Wireless.
EMPEROR OF ANNAM ENGAGED
"To Miss Yuen Hu Hao
SINO-JAPANESE TRADE CO-OPERATION
Overstatement In Previous Message
Tokyo, Mar. 7.
The Chinese Legation declares that - yesterday's message to the
air-
BRITISH TREASURY
RETURNS
London, Mar. 6. -The latest Treasury returns show that ordinary revenue for the cur- "Tiger Moth " and * Moth
rent financial year up to March 3 training aeroplanes are well- amounted to 2655,015,824. At the known to pilots of fourteen foreign corresponding date of last year the countries, outside Great Britain. amount stood at: £860,069,369, They are Brazil, Chile, Denmark,
Ordinary expenditure to date for totalled Norway. Sweden, Spain, Portugal, the current year Germany, Poland, Netherlands, £660,009,269. Ordinary expenditure Persia, China, Japan and Austria to date of current year totalled
British Wireless
£638,236,079 as compared with £673,017,021 at corresponding date last year. 1
From the figures it will be seen
Fffect that Japanese businessmen H.R.H. PRINCE OF WALES that the surplus of revenue over
were exchanging views with the
Chinese Legation officials for an Inspection Of Welsh Guards
economic rapprochement ́ was "an overstatement. The Legation off-
Baigon, Mar. 2
London, Mar, 6.- The 21-year-old Emperor of cials merely exchanged courtesies HRH the Prince of Wales to Annam is engaged to Miss Yuen with Mr. Kodama and Mr. Miya-day flew in rainy weather from Hu Hao, a member of a wealthy jina,
London, to Caterham and back to Cochin-Chinese family.
The marriages to take place
on April 20.-Renter,
CANTON-HANKOW RAILWAY
"Rumoured Loan In London
London, Mar.,7. Persistent reports in London financial circles that the Boxer Indemnity Trustees "intend issuing a loan for the-completion--of-the Canton-Hankow Railway of na £2,000,000 six per cent. issue at a price of 86, considering the nature of the security. terms, seem in- credible.
An authoritative statement is welcomed for fear of adverse effect on Chinese credit-Reuter.
FIGHTING PLAGUE IN LOBITO REGIÓN
Drastic Preventive "Measures
expenditure had last week increas-
Brussels, March 7.....] ed to about £13,000,000, a figure Drastic measures are being taken which is likely to be substantially to prevent the spread of plague in exceeded by the end of this month the region of Lobito, where Prince when the financial year terminates. George. Is due to embark home- Of £18,800,000 in land revenue col-ward, in, April, at the conclusion lected during the week. 14.000.000. of his South African tourASEM
In any event negotiations for make his annual Inspection of came from income tax £2,500,000 Natives are being vaccinated closer economic co-operation must Welsh Guards of which regiment, from aurtax and £1,500,000 from and, the roads into Lobito "ars be cartled on in Nanking-Reuter, he is Colonel British Wireless, estate duty-British Wireless.
under super
Reuter
#
THE
'Regulo
OVER HEAT CONTROL-
A FEATURE OF ALL
NEW WORLD COOKERS-
WHICH
MAKES COOKING AUTOMATIC.
U.S. AMBASSADOR TO RUSSIA
Arrives In Moscow
Moscow, Mar... 7. The United States Ambassador Russia, Mr. Henry Bullité, arrived here to-day-Reuter.
to
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CONTAINING SOME HUNDREDS OF REULPÉS.-
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