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HONG KONG DAILY PRESS, FRIDAY, NOVEMBER 8, 1935.
MOVEMENT IN
IN GERMANY AIMED AT NULLIFYING LEAGUE SANCTIONS
Government To Issue A Decree
SANCTIONS EMBARGO.
EXTENDED
Operation Date Finally Confirmed
London, November 7, ·
The Committee of Eighteen which is the executive of the sanctions Co-ordination Committee of 50 League States, took the final decision at Geneva last night for operation of economic sanctions on November 18. These sanctions "comprise an em-" bargo on exports of certain raw material and key 'products to Italy and boycott of exports from Italy.
The Committee also adopted a proposal to include petrol, coal, Iron and steet among the exports to be prohibited. This proposal is being sent to all member States and to non-mem- bers of the League.
The Committee also adopted a resolution which surrests that` member States should take as regards export of prohibited pro- ducts such measures as are necessary" to verify the destination of sach products.
November 18-Renter
from
The Committee last night issued; come effective and in full force a statement that it has been in- of operation against Italy as formed that according to informa- tion which has reached the Secre- tariat, the German Government has learnt that certain persons are at present purchasing goods in Germany with the probable 'Inten- tion of reselling them to belll- gerents at large profita.
"The German Government there- fore proposes to issue a decree to render such speculation possible."
.
SANCTIONS ENDORSED
2
NEUTRALITY OF CHINA'S NEW MONETARY
AMERICA
Mr. Hull Outlines Policy
Washington. Nov. 6.
The American policy of using appropriate influence to call a halt to foreign wars, while still keep ing out of them, was enunciated by Mr. Cordell Hall, the Secretary of State, in a nation-wide brood. cast" to-night. He explained the United States' neutrality Italo-Ethiopian dispute.
in the
At the same time he pleaded for wider discretionary powers for President Roosevelt la.. directing the foreign affairs of the United States in times of international disturbances.
The suggestion is regarded by some observers as paving the way for a request to the next Congress by the Administration
more far-reaching laws than at present, Heuter.
NEGUS APPEALS
New York, Nov. 6. An appear to the United States to assist the League of Nations by joining in the sanctions against Italy, was made by Emperor Halle Selassie in an address from Addis Abuba and heard in America to-day.
POLICY
Optimistic Outlook By Shanghai Banker
Shanghal, November 7.
An article in the “China Times" by Mr. Y. C. Hoo, well- known Shanghai bänker and economist, praises the new Chinese monetary polley as a positive measure to free the nailon from the pernicious effect of overvalued currency and achieve ecrão- mic equilibrium with the outside world.
A stable exchange would cause an immediate revival of for- eign trade characterised by an increase of import surplus which would represent the inflow of Chinese and foreign capital. This would be followed by a revival of domestic trade and production and rise in the national income. I
The improved conditions would lead to abandonment of eco- nomić nationalign and create "more_cord'al Sino-foreign rela- ! tions.
It is not thought that domestic prices would show an 'imme- diate rise on account of the several deflationary factors, which would offset any increase in bank note circulation, but the long- term outlook for commodities was bright owing to the rising world prices and the accompanying growing purchasing power of the Chinese masses.
It is believed that the balance of payments has already turned in China's favour, while the sudden
discount broadcast disappearance of
On A
111
1.
"TIMES" COMMENT
London, 6. The Chinese Government's reforms nancial and currency should
sup- command general port from all countries interest - ed in the welfare of China, de- clares the "Times" in a leader to- day."
forward dollar indicated a fall in Shanghal interest rates and return or confidence. In Chinese currency. In conclusion" Mr. Koo urged that the eventual success of the scheme depended on the Govern- ment fully carrying out the pledge to balance the budget and streng-nrst reports to reach Tokyo gave then' the banking system.
the impression that China, was endeavouring to steal A march
connivance on Japan with the
He said: "I ask nobody to take GAP NARROWED
the sword against Italy. The me Geneva, Nov. 6.
thods of the sword and of force was appreciably narrowed to-day
The gap in the ring of sanctions are methods of ancient ignorance You In America are not mem- by assurances from
German bers of the League, but the time spokesman, given to the Leagu: has come. and the opportunity is Secretaria this aftemoon.
here, for the masses" of America | Reuter · Without participating in League's measures against Italy. conciliation, because there is no the to help the League's efforts at Germany proposes to prevent deal controverting that ours Ings above normal trading opera-i cause of humanity."— tions in commodities affected by Reuter.
including #1:05 and
Newspapers state that this de- claration has created a very sanctions, favourable impression in Geneva munitions. The declaion is given British Wireless.
the greatest significance in Lea- gue circles for it is believed to de- Geneva, Nov. 6. note a closer rapprochement -with The Committee of Eighicer has France and Britain and also formally endorsed the sanctions better spirit towards the League.— scheme. which wi3 therefore bei deuter
NEWS FROM WAR FRONT
SHARP ENCOUNTER
Asmara, Nov. 7. Italian airmen report that Ma- kale is apparently occupied by Abyssinian troops whose re-entry to the town after abandonment by the Italian patrols may mean that the Abyssicians intend to put up some resistance.
Two Italian officers were wound- ed while two Askaris were killed ard ten wounded in a sharp en- counter south west of Haußlen cul-
SILVER MARKET
13 the
(From Our Own Correspondent;
London. Nov. 7. London Silver prices to-day. were unchanged for Spot and 3/16 up for Forward as follow
Spot
Forward
Nov. 6 29-5/16 28-15/16
CANTON CHAOS
It is
anfortunate
that the
if not at the Instigation. of Canton, Nov. 7. Great Britain. This misunder- The Provincial Department of standing has now, however, been Finance has declared that begin- dispelled, at any rate-in part, ning from to-day, all payments are and - Japan has been assured to be made in the banknotes of that there has been no promise the Kwangtung Provincial Bank or of a loan nor any plot to ignore the Canton Municipal Bank. while the claims and interests of Japan. all the silver coins are to be turn-
ed over to the provincial authori. ties.
'
In buying back the silver coins | in Canton districts, the govern- ment will pay $1.20 in notes for every dollar in silver and $1.44 for every big dollar. In Swatow and other places where the big dollar is current, the big dollar will be bought at $1.20,
Nov, 7 29-5/16 29-1/8 London on New York cross-rate at 2 pm, to-day was 4.9181 com- Finance will issue $100,000 Asmara, Nov. B.
pared with 4.9187 at closing yes- terday.
TO RESTART ¡DVANCE
It has been confirmed that the Italian army is under orders to restart its advance all along the ine at dawn to-morrow. jective of the attack will be Ma- kale, and the road beyond Addi- gat.
The ob- abèhéääda
FTALIAN PLANES DOWN
Addis Ababa, Nov. 6. The Ethiopiars claim tis have aero-
minating in a bayonet charge and | brought down two Italian fierce hand to hand fighting. The | planes in the Webbe Shibell region. Abyssinians fled. leaving a number Reuter, «
of dead. These were the first ca- ! sualties during the new advance.— leuter.
ETHIOPIAN CLAIM
Addis Ababa, Nov. 7. The Abyssinian authorities elalm that their troops are still holding Makale at night time, withdrawing at daylight to avold Italian attacks. Reuter.
RIDGE CAPTURED
Asmara, Nov. 7.
alr
MAKALE ENTERED
The Provincial Department of
worth
of ten-cent notes and an equal amount in nrty-cent notes,
The public is surprised by this Mrið budida | new move. All banks are closed.
to-day pending more concrete plans to carry out the new mone- tary system
ROYAL COUPLE ON HONEYMOON
Given A Rousing Send-Off
Union News.
AMERICAN DOUBTS
Washington, Nov. 6. In an atmosphere of admitted scepticism regarding the ability, of the Chinese Government to carry out sliver nationalisation, officials are awaiting developments abroad before arriving at any conclusions as to its ultimatë results from the
Rome, Nov. 6. flallan report.s from Asmara
London, Nov. 8. state that native 1:00ps, actually
Despite a slight drizzle, the a small patrolling force drawe from Ras Gufza's warriors; entered Duke and Duchess of Gloucester standpoint of the American silver
'travelled in an open Landau, policy. It was indicated to-day. Makale at 11 o'clock last right,
The situation is being drawn by, four bay horses, and
closely preceded by two out-riders in watched by the Treasury, bot scarlet and gold, from the Palace there is generally a lack of com to St. Pancras where they entrainment in Government circles. ed for Kettering to spend: their On the other hand, there are honeymoon.
Indications of considerable back- stage fretting regarding the "ques- tton whether the United States has actually pushed China off silver,
They were given a friendly re- ception by the inhabitants and I met with no opposition from the
Ethiopian troopa. พ.
The Italian regulars are ex- The Italians have captured a pected to enter the town to-mor
As they left the Palace brides ridge dominating Makale. thus row when, according to 'Lavoro
maids and guests, led by the conquering all Abyssinian territory Fascista, solemn religious cere- ..... north of the Tekazze and Cheva monies are being prepared by the Prince of Wales, showered confetti
Rivers.- reuler.
SILVER TAKEN OUT OF SWATOW
Over $1,000,000 Smuggled
churches. Heuter.
ITALY DECIDES TO BOYCOTT SPORT
and rose leaves on the couple.
The Duke, who was bare-headed, and the bride who was delight fully owned in blue, waved to the cheering crowds thronging the route and shouting "Good" Luck. Long Life and Happiness!"- Beuter,
BRIDAL BOUQUET OF THE DUCHESS
apologists of the American policy. troubles contending that China's are internal, while crities- insist that the American policy is chief- ly responsible.
Government
The United States Das not so far received any.com- munication from American baux- ing and other interests in China protecting seeking assistance in any silver stock, they may own.
JOURNAL'S COMMENTS
Financial observers feel certain that some financial support abroad The streets were floadilt and presumably London, was arranged crowded when the Duke and
prior to the nationalisation Duchess of Gloucester drove
nouncement, but it is felt that any According to the estimation of night when an Italian team due through last night on their foreign loan, unless very large, can the local Government, over $1,000,- to go to Paris from Turin was foWay to Boughton House. where be adequate for only a short per- has been bidden to leave at the last minuts. their honeymoon is, being spent od, and the pressure on currency smuggled out of this city during Router.
Bwatow, Noy. §.
000 worth of allver
the past few days. It is rumoured
that some Chinese finding dima- culty in exporting silver have gone ↑
Rome, Nov. 7. Italy has decided to boycott all sporting events with countries participating in sanctions, though it is stated that sporting relations have been intensided with Austria, Hungary and Germany...
The first instance occurred last
into partnership with Japanese | ROAD TOLL IN BRITAIN citizens and are reaping great for--
tunes in silver business. The Cus- toms are doing all they can to prevent the smuggling of allver
SUCCESS
London, Nov. 7.
871
Soon after arrival they were pre-may become too, strong unless an seated with gifts on behalf of the equilibrium in the way of interna- town and of the schoolchildren of tional payments 's effected soon. Kettering."
The Journal of Commerce," "in
The bride's bouquet of white commenting on the situation saya? – roses and Hilles of the valley with B It would be a characteristic next", simple inscription "From the step in the farcical silver comedy Duchess of Gloucester" was hand to have the United States buy, a ed yesterday to the authorities of large amount of alver from China,
that it should be placed on the Un-ance her payments during the known Warrior's tomb. This was crucial transition period while the first occasion on which the turning to a managed paper cur- Duchess used her name
rency tied to sterling." British Wireless
Reuter
London, Now: 7.- Road accident Agure in Britain coins, but are at the moment for the week ending November 2 Westminster Abbey with a request with a view to helping her to bal able; meeting with no
were 157 killed and 4,594 injured Swałow will be without a dollar as compared with 178 killed and within a week if the enormous 4,230 injured in the corresponding amount of smuggling continues week of last year
ritish- Wireless, Neutral News.
CHINA STATION COMMAND
New Admiral Due In January
Landon, Nov. B.
The transfer of command of the China Station in Hong Kong from Admiral Sir Frederic Dreyer to Ad- miral Sir Charles Little will take place on January 11.—
Neultr.
Admiral Sir Charles Little's ap- pointment as Commander-in-Chief of the China Station dates from November 8. He wil leave Enx- land a month hence,
The new. Admiral is 53 years old, having been born in Shanghai,
His commands include HM.S.
Fearless and Grand Fleet Sub marle Flotilla, 1916-18 (C.B. Civil): in command or HMS. Cleopatra in the Baltic, 1919 (C.B. Military), He was Director of Trade Divi- sion Naval Staff, 1920-22; Mem- der of British Delegation to the Washington Naval Conference, 1931; Captain of the Fleet, Medr terranean Station, 1922-24; in command of H.M.S. Iron Duke, 1926-27; Director Royal Naval Staff College, Geenwich, 1927-30; Rear-Admiral of Second Battle
OIL SUPPLIES TO ITALY
Possibility Of Stoppage
Londan, Nov. 7. Rumours are again current that the Anglo-Italian, Royal-Dutch and Standard Oil Companies are discussing the possibility of stop- ¦ ping oll supples to Italy.
London all circles, however, dis- credit such rumours, pointing out that the Americans are not even able to control the domestic cli market and it is therefore unlikely that the Standard O Company will be prepared to cease exports to Italy, thereby presenting a ready-made market to small and independent companies. who will then be in a position to nullify the effects of the oll embargo.
Many suggest that finance will cause a virtual embargo on oft to Italy, because companies would be unwilling to grant Italy" extend- ed credit for all shipments.
Meanwhile there are growing. rumours that the Standard O Company has taken over market-
Squadron, 1930-31; Rear Admiral : ing arrangements -- for Rüsejan of Submarines, 1931-32; and Vice- : Oll-
Router. Admiral in 1933.
Since 1932 he has been Lord Commissioner of the Admiralty and Deputy Chief of Naval Staf.
The Japanese can hardly fail to realise that it will benefit them as well as anyone else if China CAZ" succeed in, putting her currrency in order by her
own exertions...
TIE IN WORLD CHESS CHAMPIONSHIP
Amsterdam, Nov. 7 The 15th game in the chess match for the world championship was played, between Alekhine and There will be many difficulties to Euwe and ended in a draw." overcome and China will need all The score now stands at Ava the support she can obtain in wins for each with, four" "games- giving effect to the reforma
drawe Reuter.
Traniocran Kuò Man
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