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BRITISH LOAN
LOAN TO
CHINA
DETAILS ARRANGED IN LONDON
"Daily Herald" Diplomatic Correspondent's Report
London, October 13.
Negollations have been completed for a British loan to China amounting to several million pounds which may have far-reaching international consequences, states the diplomatic correspondent of the Daily Herald."
Details of the loan have been arranged between the Exports Credit Guarantee Department (which recently negotiated the 16 000,000 Soviel credit) and representatives of the Chinese Government in London. An announcement in this connection will be published in a day or two, the correspondent adds,
LEITH-ROSS MISSION RECALLED
. The loan will give a valuable
stimuïns to
China and
British prestige in
follows months of
negotiation largely made possible
by Sir Frederick, Leith-Ross,
The
correspondent
Interprets
to
the loan as a sharp warning
HONG KONG DAILY PRESS, WEDNESDAY, OCTOBER 14, 1936.
TAX ON SILVER
+
PROFITS
U.S. Supreme Court Decisions
CESAREWITCH UPSET
Newtown Ford On
Sick List
Washington, Oct. 14
London. Oct. 13. The Supreme Court to-day
Newtown. Ford, second favourite handed down its decision on the
for to-morrow's Cesarewitch, de- aliver tax profits question, long veloped sudden temperature and awaited bere, granting the New
is a doubtful starter. Deal
Queen's a review by the Supreme
Shiling has been Court of the Government's con- scratched, resulting in the betting tention that the 50 per cent, tax now being 7 to 1 Buckleigh. 9 to on silver profits" made prior to the 1 Hoplite, 10 to 1 Woodstock, 13 passage of the Silver Purchase Act. to 1 Chrysler II and Avondale, 16 was constitutional
to 1 Fet Greynam and Solar Bear, 20 to 1 Near Relation and Jack Tar, 25 to 1 Rando and Weather Vane.-- Reuter,
The tribunal consented to review the ruling of the Court of Claims that a tax intended by the Gov- ernment to prevent tax evasion or profiteering at the pubile expense) was unconstitutional, because it took property without due process of law.
The Supreme Court also granted a review of the Government's con- tention that the 1934 Arms Em- bargo Act, authorising the Presi- dent of the United States to for- bid the sale of munitions for use in the Gran Chaco war, was con- The Southern New York Federal District Court held this act unconstitutional on the ground that it delegated powers, sacred to Congress, to the Pres!- dent...
stitutional LOAN REPORT
INCORRECT
Japan that Britain is not unin- Agreement To Grant Reuter.
Republic
terested 1 the future of the Chinese
despite the Government's pro-Japanese at- titude, and points our that British export trade will receive a most useful impetus by substantial orders which would immediately follow the operation of the agree ment- Reuter.
NEW MONETARY
ACCORDS
British Treasury Arrangements
U.S.
CO-OPERATION
London, Oct. 12.
Credits To China
TO FOLLOW PLAN WITH RUSSIA
GOLD CLAUSE CONTRACTS
Washington, Oct. 12, The question of the "gold clause contracts" was again before the Supreme Court of the United Sta- tes to-day, which granted a review of the Holyokes Water Powers London, Oct 13.
Company's case, in which the cam- In connection with "the "Dally pany is to collect $28,874 from the Herald report that Britain has | American Writing Papers Company arranged a loan of several million jaf Massachusetts, pounds to China, Reuter under- Claim was originally made un- stands that the statement is in- der the gold clause of t rental correct.
contract which, contended claim- ants, was not affected by the 1933 Act abrogating payment obilga- tions in gold.
Agreement. however, has been reached on principle on a scheme under which credits will be given to China for purchases in Britain and guaranteed by the Govern- ment on the lines of the credits given to Soviet Russia
The Supreme Court consented to review the decision of the Court of Appents, "which affirmed the ruling of the Federal District Court that rentals might be paid in the
Some months ago a plan was raised for economic development | devaluated currency now used, in in which it was reported that apite of any gold clause contract Britain, France. Belgium and Fouter. Japan will combine. There is
reason to believe that the scheme
DETERMINED
JEAN BATTEN
Insists On Flight Over Tasman Sea
Sydney, Oct. 13. Escorted by Afteen Aero Club planes, Miss Jean Batten arrived
at 235 p.. Miss Batten declar- ed that she intended to fly to her home in New Zealand, The plane is at present being overhauled.
The authorities are trying to dissuade her from making the flight over the dangerous crossing of the Tasman Sea, but she is de- termined to go, maintaining that her Percival Gull plane has a range of 2000 miles which is more than sufficient for the crossing. Kenter's Bulletin Servsce
EARLIER MESSAGE
பர்
JAPANESE AUTHORITIES
AUTHORITIES TAKE SERIOUS VIEW
Lieutenant-Generál J. G. DI, who has been given supreme mill- tary control of the British forces in Palestine.
RELIEF FELT IN PALESTINE
Termination Of Arab Strike
Jerusalem, Oct 11, The hymn, "Now Thank We All Our God." played by a carillon from the YMCA. belfry, reflects the general feeling of reller that the Arab strike has ended. "The Grand Mufti to-day personally at- tended the opening of a number of shops inside the old city,
The Rulers' appeals and mani- testo sie echoed variously by the Press.. The Arabic newspapers, are frankly jubilant over the Arab Kings' intervention, the newspaper "Aldiraa" declaring that the royal London, Oct. 12. A Melbourne message states that pledge resembles the Balfour De the Australian Air Board have declaration, while the "Alliwa"" ex- cided they have no jurisdiction to presses the belief that the British ban Miss Jean Batteh from flying Government approved the final text of the Arab Kings' appeal, solo over the Tasman Sea to New Zealand as she is flying with a
thus establishing a precedent for British licence granted under Bri-
the Rulers' future intervention on behalf of the Palestine Arabs. tish Air Ministry conditions. At the same time they are to make an Indirect appeal to her to forego her plan. Miss Batten's machine in which she
Bew over the South Atlantic and has just created a new, record time of five days 21 hours
England to Australia has only one engine-
the test of the Arab Higher Com- mittee's influence, will be proved only when terrorism ceases.
The Jewish Press believes that
The Jewish journals stress the point that the strike has ended in
ALLEGED MANIFESTO
IN PEIPING
Urging Action Against Alien Forces
Shanghai, October 13.
Japanese reports from Peping say that seventy seven lead- ing Chinese educationalists have pubished a manifesto urging the abrogation of the Shanghai-Tangku and Ho-Umeizu démili- tarisation agreements, denouncing the Hopei-Chahar Political Council as a creation of "allen forces," advocating military ac tion to protect Chinese border regions and recover the lost North-Eastern territories, and demand.ng effective suppression of- smuggling and other forms of “alien interference.”
According to the report, the Japanese authorities in Peiping "take a serious view" of the manifesto which they interpret as an Incitement to settle Sino-Japanese differences by force of ...
arIDS.
PRESS INDICATIONS
depends SOVIET SIDE OF
THE STORY
The next step in Sino-Japanese negotiations which are expected to be resumed this week entirely upon the report and sug- gestions made by Mr. Kuwajima to the "Inner Cabinet" to-day ac cording to the Chinese press. Mr. Kuwajima ts due to arrive in Tokyo, to-day.
Meanwhile no date has yet been fixed for the fourth intreview be- tween General Chang Chun and Mr. Kawagoe, but it is expered that it will be held sometime this week.
The "China Times" correspon- dent in Nanking says that there is no official confirmation of press reports that Japan will change her, policy by voluntarily with- drawing her "proposals."- Peuter.
. The
WANG KEB MIN QUITS
Peiping, Oct. 19. Hopel-Chahar Political Council announces the resigna- tion of Mr. Wang Ken-min from the chairmanship of the Econo- mic Commission and the appoint- ment thereto of Mr. Li Shih-hso, former Minister of Finance in the Peking Government...
is being discussed, but obviously it FRANCE ANGERS three minutes for a solo fight from fallure, because it has not stifled Acuter.
The British Treasury to-day an- nounced that arrangements for is one of targe dimensions
and
technical co-operation with the somewhat complicated and noth- nonetary authorities in the Uniting definite has so far been de-
The projected international loan is reported to be £20,000,000. However, it cannot be confirmed and no details are available.-- Leuter
ed States have been completed. Acided. new regulation willshortly be pub- listed by the US. Secretary of the Treasury, Mr. Henry Morgenthau. which will enable any country to obtain gold in the United States In exchange for dollars, providing that country, gives the United States reciprocal facilities
His Majesty's Government has arranged for such facilities to be afforded in London to the United States Government.
This day to day working arrange- ment should greatly facilitate the technical operations of the Ex- change Control Funds
Similar arrangements are being made with the Bank of France so As to provide effective co-operation hetween the three countries
Heuter understands that the arrangement is simply reciprocal
LONDON PEPPER
14
POOL Decision To Withdraw. As Sellers"
London, Oct. 13. morning again decided to withdraw The London pepper pool this
as sellers until further notice. The market, expects their
re-
GERMANY
Communist Leader's Statement
оп
London, Oct. 12. Au outburst of German anger against France has followed the Communist demonstrations the frontier, in Alsace-Lorraine, yesterday. Particularly the Ger- mans are offended by the speech at Strasbourg by M. Thorez, Se- crutdry-General of the French Communist Party.
M. Thorez declared that Herr Adolf Hitler's object was the an- nihilation of France.
German newspapers insist. this
British Warelto..
SINGAPORE FLYING
BOATS
New Squadron Duc
London, oct. 12.
Jewish economic Hfe, which, it is claimed, has progressed during the strike, to the extent of absorbing 18,000 new Jewish Immigrants.
The Hebrew Press, however, ex-
ANGLO-RUSSIAN
presses the opinion that there is NAVAL TREATY
a dangerous element in the Arab Kings' intervention, because it creates the illusion that Palestine affairs come within the sphere of influence of the Arab-territories
Impartial British opinion be- order is being restored. that the Royal Commis- sion will be the best instrument for producing a lasting peace.— Reuter
A squadron of five Short Sing-Heves, now that apore flying boats to increase the establishment of the Royal Air Force in the Far East command, will be flown from Pembroke Dock on October 14, under Wing Com- mander W. H. Dunn. They are ex-" Dected to reach Singapore early in November, travelling by easy stages.
MILITARY POLICY
Criticism Raised By Germany
CONCESSIONS TO SOVIET
the entry as sellers at a slightly high- | is an insult to the German nation
er level.
Following the meeting
and to Herr Hitler, The French of the Government will have to give an
to facilitate the technical opera-London pepper poor, it was decided explanation, they say,--.
tions in stabilisation. and involves no change in policy, and nowise alters the fact that sterling is a free currency.
Balances in New York arising from the intervention of Exchange Controls will be exchanged for gold at a Axed price. Similarly balances in London and Paris will be ex- changed for gold on terms to be agreed upon in the light of daily circumstances--
Router.
BULLION RESERVES
Denver, Colorado, Oct. 12. President F. D. Roosevelt, cam- -paigning here, declared to-day that the great bullion reserves in the United States were now sufficient to redeem every dolar of the coun- try's currency. They were far more than 100 per cent, he said, and the American monetary sys- tem was the soundest in the world. leuter.
U. 8. EXPLANATION ·
Washington, Oct. 12. Mr. Henry Morgenthau, Secre- tory of the Treasury, describes the tripartite agreement announced in London to-day, as a new type of gold standard.
to-day to raise the prices of white pepper by a. farthing a pound. making Ave 'pence and five pence three farthings for bond and duty paid respectively.-- Feuter.
DOVER-DUNKIRK TRAIN FERRIES Official Opening Of Service
Paris. Oct. 13." Train ferries between Dover and Dunkirk were officially opened to-day in the presence of Str George Clerk, British Ambassador in France.
Reuter.
ACTION URGED
Berlin, Oct. 12. Germany expects the French Government to take" vigorous action against M. Thorez, the Communist leader, and those res- ponsible for yesterday's demon- strations in Strasbourg. But no- thing is known in the Wilhelm- strasse at present of any formal diplomatic protest
London, Oct. 12. The draft of the Anglo-Russian Jerusalem, Oct. 13. The calling off of the Arab strike Naval Treaty is criticised in a note has reflected a change in the mili- delivered to His Majesty's Foreign The new squadron u flying tary policy. The British General Office to-day by Prince Bismarck, boats destined for Singapore has Staff states that, beginning from German Charge d'Affaires. been temporarily serving in the to-day, it is taking up defensive It is believed the note objects to Middle East for the past year. Its tactics, responding only to cases o divergencies in the treaty from the principles of the Three-Power" route of fight to Singapore will be unprovoked aggression. by Bordeaux, Marseilles. Malta,
There will be no searches, no London Naval Treaty of 1936, the Aboukir, Lake Habaulyan, Basra. cross-country patrols until Friday, stand token being that concessions
to Russia "are made in it. when the position may be review- Rasal Khaimah, Karachi, Allaha- bad, Calcutta and Mergui, a total jed. « of 8,000 miles.— Keuler.
LORD HAILSHAM INDISPOSED
London, Oct. 12.
comman-
Meanwhile, divisional ders are to report what reduction In precautionary measures are pos- sible while gradually drawing in the troops to camp. providing the altuation warrants such action, ···
The mosque area of this city was thronged last evening with thou-
Oficials are waiting to see what A statement issued to-day re-sands of worshippers, cclebrating the French Prime Minister, M. garding the lineas ci the Lord the termination of the strike. The Leon Blum, will do about this Chancellor says Lord Hailsham is curlew for Moslems was specially "breach of international courtesy making an excellent recovery, but retarded in honour of the occasion. and Internationally acknowledged does not propose for the present-Reuter. rules against bringing the bead of ! to attend ́ineetings of the Cabinet. a state into debate for the pur- He expects to be able to resume his Pose of throwing mud at him.”— cmcial duties in full at the end of Beuter.
the year,
. At present the service is run by
PROTEST LODGED three ferries which will enable the
Paris, Oct. 13. whole range of British railway
It is learned that Germany pro- rolling stock to be carried over the tested to France last night in con- Straits of Dover and connected nection with the Communist re- with the railway lines of other ❘ferences to Chancellor Hitler in the | countries. In Europe,
Alsace Lorraine speeches on Sun- Reuter's Bulletin Service.
day.- Reuter.
in exchanges. It will not affect | TURKISH MINISTER
the Internal value of the dollar.
The agreement becomes effective
VISITS VIENNA
BULGARIAN PREMIER
PLEASED
The draft treaty provides, among | other things, that if Japar violates the qualitative mits of the Lon- may follow don Treaty Russia sult. Germany, on the other hand, is still bound by the Anglo-Ger-
man agreement, it is argued.
Germany, therefore, feels that the concessions to Russia are ex-
cessive.
It is understood that, the Clerman
note in no way suggests that Ger- many is anxious for modification
7
P
Manchukuo Border Clashes
Moscow, Oct 13.
The Soviet version of the Man- chukuo border clashes. declares that the first incident occurred on Sunday when a Japanese detach- ment thirty-five strong erossed the frontier-south of the village of Pakshekori on the southerly section of the border and, on the approach of the Soviet frontier patrol, the Japanese opened in-. tense rifle and machine gun fire, the Japanese retiring after half an hour's skirmish,
1′′
In the afternoon, in the regimo of the upper Yanchikhe River, the Soviet frontter patrol was fred on from an ambush Barranged by Japanese and Manchukuoan sol- diers in trenches dug by them in Soviet territory. The Soviet patrol returned the fire and forced the Japanese and Madhukudens zo retreat into Manego territory. " The same day a Soviet Foreigh Office oficial protested to the Japanese Charge d'Affaires against · the new violations of the Soviet frontier, demanding prosecution of those guilty and avoidance of re- petition of similar incidents — Bruter.
NINE POWER PACT INVOCATION
Official Denial By Great Britain
London, Oct. 12 It is offciany denied that Great Britain 'has approached the signu tories of the Washington and Nine Power Treaties to suggest the relative clauses would be invoked with regard to the present` Par Eastern situation.
This disposes of the report pub- » lished in the Japanese newspaper," Erkumin Ehimbun” veterans, to the effect that Britain was using her influence to encourage treaty signatories to take Joint action 'in the Far East, presumably against Japan.-- Reuter
U.S. NOT APPROACHED
Washington, Out; 12; of the Anglo-German naval treaty, The State Department announ- but certain non-British naval eir-
ced to-day that the United States cles are apprehensive lest German | bad not been asked by any signa- criticisms may be a prelude to story of the Nine Power Treaty to: request for such revision, unless join in protest against alleged Ja- the concessions to Russia are not
panese demands upon China— altered...
Reuter Without. Germani approval, no Angio-Russian naval treaty, can ("Hong Kong Dally Press" Special) be digned, for Russia has always
Belgrade, Oct. 13.
laid down that any qualitative The Bulgarian Prime Minister, limitation accepted. by her should who left here for Sofla after a also be accepted by Germany, Di short stay, received premmen be
Therefore, if no Rumo-German. fore his departure and expressed agreement can be reached ("Hong Kong Dally. Prèn" Special) his sincere satisfaction at the qualitative limitation of ships of
Paris, Oct. 13+ ~. result of his stay in the Jugoslav war, the efforts of Great Britain
The so-called "People's (Tri- capital.
to extend the principles of the Lon-buna?" In Madrid condemned"
מם
COLONEL MORENA TO DIE
The Lord Chancellor's place was taken to-day by the Lord Chief Justice in the ceremony at the House of Lords of conveying His Majesty's approval of the appoint- ment of the new Lord Mayor of London. Addressing. Sir George Broadbridge Lord Hewart said he was entering upon his office at a memorable moment in the history of London and of England, at the beginning of a year which would see the Coronation of the King and The Bulgarian statesman show don Treaty to the Baltic and Scan Colonel Morena, who formerly De- which they hoped would mark aed himself particularly pleased dinavian naval powers will belonged to the General Staff of the new epoch of peace and prosperity with his conversations with doomed to fallure, while even the Spanish Army, to death. Colones for the country.---
Prince Regent · Paul and "the London Naval Treaty itself will Morena, who was charged the Aritish Wireinar.
Jugoslav Premier, at which ocea fall to the ground through the being hostile to the Madrid
Ha says the chief effect will be to transfer the power of trading in from to-day and henceforth the "Hong Kong Daily Press" Special) gold from the hands of irresponsales of gold will be made through
Vienna, Oct. 13. sible speculators to the "bands of the Federal Reserve Bank in New
The Turkish Foreign Minister the Governments.
York, as the fiscal agents of the, Tevik Rushdi Aras arrived here The primary purpose of the United States Government, at # Un his return Journey from agreement from the American price of $35 per fine ounce. plus a Geneva. It is stated that he had trian Secretary of State point of view, will be to protect handling charge of 25 per cent lengthy conversation on the Foreign Affairs, Behmidt business from violent finetuations | Reuter
political situation with the Aus- Transocean. Nesos Seryten.
sion all questions of interest for operation of the "escalator clause," Government, is stated oto chive Bulgaria and Jugoslavia as well it is pointed out:
A for as the maintainance, of peace in However, hope has not beer
the Balkans were discussed.
abandoned for a settlement. Transooman News Service,
Beuter, 20
said that, be only regretted not ta have been able to take setive park in the struggle of the Nationalita.
-Transocean' News Service des