;
FRANCE FACING A MOST
SERIOUS CRISIS
Shrinking Revenues And
Budget Difficulties
Paris, May 27
Shrinking revenue, rising expenses and a, deficit in the Budget of £135 million are the outstanding features. of a most serious crisis now being faced by France since 1926..
Official circles are emphatic that the Government will not devalue the franc. Gold reserves are still £1,000 million and ample for any emergency, but public misgiv ing regarding national finances are such that a general Right from the franc will easily ensue, and for this rea son broad hints are afloat that expect of gold may he pro ,hibited.
M. Germain Martin, Finance Minster, is reported to have warn- ed the Cabinet that he will not be responsible for what may happen after March 31 in the Budget is not balanced.
M. Flandin is seeking dictatorial powers, and aims not merely on a balanced Budget but also on 'gen- eral economic reform and trade revival.
Opinions are so various and so condicting that the outcome can- not be predicted with any sense of certainty. Some say that de-. valuation is the only remedy for the serious shrinkage in exports.
The high cost of living torbids wage reductions, Already butter. beef, chickens," rabbits and fish cost twice what it does in England."
Others say that the Chamber dare not risk a political crisis with a succession of phantom" cabinets by rejecting Premier Flandin's de- mands or raise the peasants fury, for if the franc is devalued their savings will be brought down to a fraction.
BILL TO THE RESCUE
"1
HONG KONG DAILY PRESS, TUESDAY, MAY 28, 1935.
LIQUIDATION
OF FIRMS
Petition Presented
In U.S. Court
Pelping May 27.
A petition in equity for liquida- tion of the American Oriental Banking Corporation, the Ameri- can Oriental Finance Corporation and the Raven Trust Company and a voluntary application for appointment of a liquidator were presented to Judge Helmwick in the American Court in China this
afternoon.
Judge Heimwick intimated that he would announce his decision later in the afternoon. Reuter,
.
12
J
MALLET MURDER CASE
AT OLD BAILEY
Miss Irene Riggs Gives Evidence
London, May 27,
The Old Balley was crowded to day, mastly by women, for the "Mallet Murder Case" in which Mrs. Alma Rattenbury and George Percy Stoner face trial on a charge of murdering Mr. Mawson Francis Rattenbury. husband of the former. a retired architect of Bournemouth. Stoner was their chauffeur.
that Mrs. Rattenbury's relations with her husband were always per fectly friendly and he had never known them to quarrel except for one trifling difference; -"-
Witness had known for some time that Mrs. Rattenbury and Stoner were "lovers Mrs. Ratten- bury had told her that Stoner more than once had threatened her life. Miss Riggs related the story of a quarrel between Rattenbury and At midnight Stoner in February. she went to Stoner's bedroom and
The accused pleaded not guilty. The prosecution contended that the relationship between the accused SEALING OF PREMISES
was adulterous and Rattenbury,
saw Stoner holding Rattenbury... Peiping, May 27. Best accused's husband, was in the Late in
She separated them and Ratten-. the afternoon Judge way. Counsel cited statements at- Helmick said that he was not ready tributed to Mrs. Rattenbury, in-bury was rather scared,
Stoner used to carry a dagger, A communique announces that yet to make a decision concerningcluding a signed statement saying મંદ
Cabinet meeting at which the American Oriental Banking that the husband dared her to kill Miss Riggs sald, and she asked him M. Lebrunpresided,
agreement Corporation and the Raven Trust him as he wanted to die. She hit why he did it. Stoner said it was was reached on a Bill giving the Company.
because he has seen Rattenbury Government plenary powers. The
with his wife in the afternoon. text of the Bill will be finally approved at a council of Ministers
On the application of Mr. Fran- kin, attorney for the Raven Trust Company and other interests. Judge to-morrow. The BI will be Heirmick agreed "that the American tabled in the Chamber to-morrow Marshal in Shanghai should seal afternoon without immediate de-the premises.— bate and be referred to 'the Finance Commission for report.
The Cabinet reached unanimity on the text of plenary power in the Barter an appeal by M. Herriot, described as "particularly pathetic." to his colleagues to "stand together united to save the frand"
The text of the Bill has not been disclosed yet, but it is known to
give the Government wide powers not only in the Budget deficit difficulty but also economic recovery. It is the joint hand! work of Premier Flandin and Finance Minister Germain Martin.
SPECIAL POWERS (Special to the "Hong Kong Daily
The Government's hopes are-Reuter, pinned on promised support by M. Herriot. He is a most skiltu: tag- tician and the Chamber is effec- tively mixing hard facts and emo- tional appeals.--- Beuter.
FIGHT FOR FRANC
Paris, May 27.
A critical day on the fight for the franc began with the Cabinet meeting at M. Flandin's residence: While
nothing transpired about the Cabinet meeting, M. Flandin is not resigning. He is having the "full support of the Right and Left wing ministerialists as both M. Louls Marin. the Right leader, and M. Herriot approved the Premier's demand for plenary powers,
Press (Copyright).]
Paris, May 26,
Reuter
EARLY NEWS
Pelping, May 27. Applications for trustees in con- payments by the American-Orien- nection with the suspension of
tal Banking Corporation and the American-Oriental Finance Cor- poration are not expected to take place in open court. It is under- stood that Mr. Justice Helmick will hear applications in Chambers after the conclusion of the morn- ing session of the Peiping Union Medical College case. Reuter.
SILVER MARKET
From Our Own Correspondent/
London, May 7. London silver prices to-day were up 3/16 as follow:
May 25
Spot....33-3/4 Forward'.........34.
May 27 33-15/16 34-3/16
The government's resolution de- manding special powers will be formally introduced in the Cham- ber on Tuesday but the debate on It will not commence l June 4. owing to Premier Fladin's health.
London on New York cross rate The debate is expected to last several days as considerable oppo-at 2 pm. to-day was 49531 com sition to the government's demands Pared with 4.5537 at closing on
is likely to be forthcoming from Saturday. the Right and left wing groups Including the Radical Socialists.
Political circles believe the hosti-
It is believed that the Cabinet|lity will be such as to endanger discussed the Finance Minister's the Cabinet's existence and the proposal for dealing with franc names of Flandin's possible succes- speculation and the budget crisis. sors have been heard in certain
“Intransigent" Jeurned from "reliable" sources that the Banque de France last week lost about thirteen mard francs in gold.-- Reuter,
ין
ITALIAN PRESS
VIEWS
quarters. the "Echo de Paris" mentioning those of Laval and the President of the Chamber, Bouls-
son.-
Transocean Kuo Min.
AUTHORITY OF THE LEAGUE
"Hitler's Thirteen Points
Upheld In Three Major Issues
Special to the "Hong Kongg
Daly Press">
(by Telegraph, Copyright, Tela Graphic Massager Ordinamos. 1894. Beceived. Mug 27, 7-10 pan.)
Rome, May 27.
Chancellor Hitler's thirteen points, according to "Glorale d'Italia" do not give complete ur- clear definition. 01 Germany's attitude but neither do they ex-
SHANGHAI-NAGASAKI CABLE
Chinese Censorship Of
Press Despatches
1.
Shanghai, May 27. The "Central Dally News" states that the Chinese Government is negotiating with the Japanese authorities concerning censorship of press despatches "sent, via the Japanese-owned Shanghai-Naga- .saki .cable.
him with a mallet,
Counsel also put in a statement of Stoners after his arrest, de- claring he did the job himself and Mrs. Rattenbury had nothing to
do with it.
Miss Irene Riggs Mrs. Ratten- bury's companion, and help, sald
MOTOR DRIVE IN LONDON
Queen Celebrates Birthday
caston the deceased showed her an Miss Riggs said that on one oc-
injury to his arm which he sald had been caused by his wife.
The hearing was adjourned untili, to-morrow.- Reuter
AIR SCHEME IN JAPAN
Ambitious Plan Of Development
Tokyo, May 27.
An ambitions scheme of "civil ang. aeronautical development for the arst year of operation is Which will cost 190 milion усп
being studied by the Ministry of Communications.
London May 27. Yesterday was the Queen's 68th birthday and following a family luncheon party Their Majesties celebrated the occasion by making a motor car trip in northwest London. Their daughter. the Princess Royal, and their grand-
The scheme provides,, among daughter. Princess Margaret, · ac-'
other things. the development of companied them Although the
domestic air routes. inauguration visit was unexpected, the news
o international air services. con- and soon spread
many of the streets
trol of aeroplane manufacture. wete thronged. Some-
training aviators, establishment times the surge of people was so
of aerodromes, construction great that the car was forced to
of emergenty Jarding Aelds stop. The motor car travelled
throughout the throughout at a very slow pace tion of an Institute of Aeronau- country, forma-
and in some districts the children
tical Research and encourage-
In their enthusiasm mounted thement of domestic production of running board.
This morning the King... accom- pauled by an Equerry-in-Walting was out riding In Rotten Rowi Hyde Park, at eight o'clock.- British Wireless.
ANGLO - GERMAN MEETING
An
4. Lading
Informal Naval
Discussion
London, May 27.
Anglo-German
informal
on
alfcraft.
a
а
placing aviation in Japan on
The programme Is aimed at
Tevel with other nations and also meet advances of foreign inter- ests in establishing air routes in the Far East.--- Reuter."
زرا
GERMAN PARTY SUCCESSES
Czech Election Progress
news messages sent At present by other
routes are subject to censorship to which users of the Shanghal-Nagasaki "cable are im- mune. This gives Japanese correc- naval discussion, which is the out- pondents an advantage over other come of Sir John. Simon's visit to
(B Telegraph,· Copyright, Tale graphic Massagei journalists and also enables pub- Berlin, will start in London
Ordinance, 189 ication of news which the Chinese June 4:
Received, May 27, 4.30 p.m.) authorities may consider inaccur It is expected that Herr von
Prague, May 27. ate or "prejudicial to peace and | Ribbentrop, will be the head of The overwhelming success of the order in China."-
the German delegation, accom- Sudeten Deutsche party in the re- panied by Admiral Schuster," Cap-cent Czechoslovakian national tain Kldelen and the German elections has been followed up by Naval Attache in London.
London, May 27. Mr. Anthony Eden, Lord Privy Seal, arrived “in London from Renter Geceva last night.
In an interview he said: "We have. I believe, every reason to be well pleased with the work of last week's League Council. Three is- sues of very real importance were before us, the Danzig, Hungarian and Yugoslav dispute, and the'di-
sinia.
clude the possiblity of bringingferences between Italy and Aby3- about a rapprochement between the respective positions of various countries. "Hence a new phase is opening for European diplomacy whose task it will be to obtain information regarding their pre- cise application to problems in all practically possible eventualities or principles enun- clated by Hitler and thus definite-
various
EIGHT THOUSAND APPLICATIONS
R.A.F. Recruit Appeal
London, May 27. Nearly 8,000.mien have made op. The difficulties in respect of Danzig have been appeased. The plications to join the Royal Air Force since the secretary for air Hungarian-Yugoslav dispute is now. happily closed. The Italo-Abys made an appeal for recruits last sinian differences have been fair-Thursday, Two thousand applica- ly set on the way to settlement.
tions have been received at the Air Ministry for short service com- "In all these instances the
missions and rank of airman pilot. British Wireless,
League's authority has been upheld
..
The British delegates will be Mr. R. L. Craigle, a Foreign Office expert, Admiral Little and Captain Danckwerts, the same team" which negotiated with the Japanese delegation last year.-Bruter.”
1
Gordon's
SPECIAL
OLD TOM
NO. COLOURING MATTER
NO INJURIOUS INGREDIENTS
WHITEST
PUREST
&BEST
The Largest Gin Distillers in the World
DERBY WIN AND PLACE BETTING
Heavy Demand On Bahram
London," May 27.
Bahram, Aga Knan's prime hope
for the Derby to be run on June FAVOURABLE REPORT ON 5, remained the favourite at to-
day's call over when the betting was 5 to 6 lald and wanted. The betting on the other horses were:
100/8 Hairan (t and o) 100/8 Theft (0) 13/1 (t) 15/1 Sea Bequest it and a) 18/1 Bobsleigh., (t and o) 22/1 Field Trial ft and o) 25/1 Fair Haven (0) 33/1 First Son (0) 40/1 (t) 35/1 Fair Bairn (0) 40/1 (t) 40/1 Pry II (0)
50/1 Screamer (o) 66/1 (t) 66/1 Assignation it and of
SPECIAL PLACE BETTING 2/7 Bahram (wanted) 9/4 Theft (0) 5/2 (t) 5/2 Hairan (0),
100/30 Bea Bequest it and o) 9/2 Field Trial (0) 5/1 (b) 11,2 Bobsleigh: (0) 6/1 (t) 6/1 First Son (0)
3/1 Fair Bairn it and o) Reuter
RECENT ANTI-SEMITIC;
OUTBREAKS
Caused By Criminal Elementa
(Special to the "Hong Kong Daily Pres8")
1.
Tan 11.
BOBSLEIGH
Trainer Now Satisfied
London. May 27.
A more hopeful report on Bob- leigh, once second favourite and Lord Derby's candidate for the Ep- som Derby which will be rum. June 5, has now been made by his trainer.
110
At Newmarket today, Bobsleigh' was cantered twice over five fur- Jongs and pulled up sound. Mr. Leader announced after the trial that he was satisfied with the calt and would probably gallop him on Wednesday. It was not- able that Bobsleigh was without the bandage which he had worn ever since he was found to be in- Jured.--
Renter.
VERSAILLES TREATY WICKEDNESS
Louis Bertrand's Views
(Special to "Hong Kong
Dally Press"), V
(by Telegraph, Copyright, Tela By Telegraph. Copyright,
graphic, Merrages Ordinancs. 1894 Ordinance. praphic Mersages
Received, May 27, 4.30 p.m.) Received, May 27, 7.30 pim.)
Paris, May 27. Munich, May 27.
The "wickedness' of the Versail- The recent anti-Semitic out- les treaty was "pointed out by a breaks in this city are now re-
member of the French Academy, vealed to have been due to pro- Louis Bertrand in "La Fress," who Vocation of certain elements outputs the question to Frenchmen similar success in the provincial side the National-Socialist party what they would have thought and elections held throughout the who wished to compromise the felt if a similar "dictate" had" country on Sunday. The party latter, according to a semi-quiciai been forced on France. Bertrand which polled two-thirds
of the
announcement by the Munich po- asks what effect the "polley of pin
that total of German votes in the nalice, which adds not only pricks" must have on Germany tional elections has now been able were the boycotts against the which is waiting in vain that to improve its relation to nearly Jewish shops but probably also France accepts the hand offered to three-fourths. In spite of the de-
the riots staged during the recent ber. "To maintain the integrity crease of the total number of votes
unauthorised collection for Catho- of the Versailles treaty a new war compared with the national elec- c charity associations had
would be needed," says Bertrand, tions, the Sudeten Deutsche party due to the action of such "erim- adding that the "only result of again obtained more than 1,200,000
Inal elements."
France's post-war policy has been votes in Bohemia and Moravia. Transocean Kuo Min.
to increase the enmity between the (By | Telegraph, Copyright.
The breakdown of the German
two countries which had every graphic Messages Ordinates. parties supporting the Czecholova-
reason to reach a conciliation." Received, May 27. 4.30 p.m.)
kian Government, the Social-De
Transocean Kuo Min. Paris, May 27,
mocrats and the Farmers' League, That Mussolini has not renoun- has been completed as these part- ced his aim to reach a compromise les lost one-fifth of the votes ob- between the Powers wishing to tained in the national elections. defend the "status quo" and those The victory of the Sudeten Deut-, demanding a revision of the treat-ache party is particularly marked les, is the conclusion drawn from II in Moravia where it became the Duce's last speech by Pertinax in strongest party in the province
MUSSOLINT'S SPEECH CONCLUSIONS
Tale.
189.
been
HITLER DECLARATION UNCERTAINTIES
Air Parity Question
Berlin, May 21,
CHIANG WELCOMED
Chengtu, May 27. Generalissimo The Anglo-German diplomatic Chiang Kal Shek were warmly and Madame negotiations now proceeding cen-welcomed by the populace on ar-
ly ascertain the possibility of and its ability to promote peace- reaching a general anderstanding. ful settlement of international Italy will give her wholehearted, disputes has once again been ex- support to such diplomatic efforts i emplified. Our thanks are due to INDIA BILL PROGRESS to bring about a general under the wise statesmanship of the standing, for this has been the parties concerned and to all Govi
London, May 27. underlying aim of her polley to- eraments who have contributed to
The report stage of the India the "Echo de Paris." Stressing the with 318,000 votes while the Czech tred round not only on the potuta rival here this afternoon by plane.. warda Germany in recent years these results.”—-
situation in which Catholic Peoples party which for British Wireless.
Bill will, it is anticipated, be com- precarious The Austrian problem, says the
plated in the Commons this week France finds herself, owing to the merly was numerically the strong paper, has brought the develop-
and there will be a general debate Italo-Abyssinian confict. Pertinax est party there bad to take second ment of friendship between Ger-
on the third reading on Tuesday declares that France could not place with 300,000 votes.. many and Italy to a standstill and of the Danubian conference whose and Wednesday next week. The openly disavow Geneva since the. In Bohemia where the Sudeten the paper saks whether there in object" is to create a more peace- Bill will then be sent to the League of Nations represents the Deutsche Party polled 68.24 per no possibility of this problem ful and favourable atmosphere House of Lords where the forma: Justification of a system of general cent of the total of German votes, being cleared up. The paperT for achieving political and Arst reading will be taken before mutual assistance pacts advocated the party's share has now risen to thinks such a porsibility might be economic solidarity in Europe the Whitsuntide receas afforded during the preparation Transocean Kwo. Min.
British Wireless.
Transocean. Kuo Min.
Transocean Kuò 'Min;
by her
70.89
of Hitler's speech which seem to from Chungking offer scope for an agreement beter tween Germany and her neigh bours, but also a point on which some uncertainties are fettinij British circles including the almost the question of whether this claim certainty of Hitler's demand for is to be taken as applying to the parity with the British Air Force Home Air Force only or the whole It is believed that the British Air Force, Home and Overseas Ambassador had already raised Reuter.