PAGE 6-HONG KONG DAILY PRESS
No 88
No. 90
No 11
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Shirts with collar attached in coat as well as pullover styles, Prices $9.50, $6.75 and $5.75
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"1
YAN HEUSEN AGENTS
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CARLES
AUSTRIAN LOAN |SHARP EXCHANGE SOUND ECONOMY
AGREEMENT
Germany Accepts Liability
IN CANADIAN PARLIAMENT
Question Of R.A.F.
London, July 1 Centres In Dominion
The Chancellor of the Exche- quer's announcement in the House
OF CANADA
Sir John Simon's Tribute
London, July 3. The Chancellor of the Ex- Ottawa. July 2
chequer, Sir John Simon, was the Canada's attitude towards Bri- principal guest at the Dominion of Commons regarding the Anglo- German debi agreement came tain's defence policy was the sub-"Day dinner of the Canada Club after the close of the Stock Ex-Ject of a "sharp passage-at-arms held in London on Friday night. change, but Austrian and German between the Premier, Mr. Macken- King, and the opposition loans were marked up appreciably sta
in unofficial street dealings, despite leader. Mr. R. B. Bennett, in the the meagreness of actual business. Dominion Parliament yesterday.
The agreement is too intricate to enable the City to arrive at a full appreciation of its terms, but the rise in prices illustrates the gen erally favourable reception.
Mr. Bennett asserted that the Canadian Government was terus- ing Britain a means to defend her- self in the event of war by with- holding permission for the estab-
Mr. Vincent Massey, High Co- missioner for Canada, was in the chair and guests included the Lord Chancellor, Lord Maugham, Lord Stanley, Dominions and Secretary.
In proposing the toast of Cana- da, Sir John Simon congratulated that country on the satisfactory Onancial and economic position in which she found herself today,
It was, he said a tribute to the well-balanced economy which had been bullt up by successive
The German Government's 1shment of R.A.F. training schools undertaking not only to continue in Canada. the debt service on the Austrian' Mr. Mackenzie King denied that loans, but also to transfer 50 per Britain sought such permission, but cent. of the interest from non-added that the Canadian Govern- Reich loans is particularly wel-ment should not permit any mill- comed in the City. It is estimated tary force to be stationed in the that this transfer will involve some country under the control of an-Dominion Governments that, not- £4,000,000, which is considerably other Government. more than at present.
The Premier furthermore chal- Germany guarantees to main-lenged Mr. Bennett te a test of tain the present proportion bepublic opinion by a general election tween British exports of finished and declared that the course Mr. goods and her total exports, while Bennett suggested implied a re- providing a sliding seale for an versal of the trend of the British allocation from the sterling pro-Dominions towards complete au- ceeds of German exports.
tonomy and sovereignty.-(Reuter).
The opinion is expressed that Great Britain's firm attitude and
threat to establish an exchange AFFILIATION, OF clearing house has been instru- mental in bringing about the pre sent solution.
BASIS OF AGREEMENT
STOCK EXCHANGES
IN MANILA
withstanding" depressed world economic conditions ind the
failure of her own wheat crop. the past Canada's accounts for financial year showed that re- venue was higher than at any previous time in her history!
could There
be no better
soundness evidence of the
of Canada's economic position and of her ability to meet the future with confidence, said the Chancellor. (British Wireless).
GUARD AGAINST
PIRACY
The Manila Stock Exchange re- The basis of the Anglo-Germanicently accepted a proposal made debt agreement is that, without by the Central Stock Exchange for question, Germany undertakes the affiliation. Detalls are still to be
Shanghai, July 2 legal labflity to relinburse the worked out by the Governing-Com-
Local shipping firms here en United Kingdom for any suns mittee of the Manila Stock Ex-
a special committee gaged on coast trade, decided not paid with respect to their guaran- change and
from the Central Exchange. to admit in the future any passen- tees on the Austrian loans,"
gers on board vessels controlled by them, before saidė passengers have deposited a valuable security in
panies
The settlement also confirms the principles and arrangements reached between the German re-will enable the level of the Unit-cash or in kind with the com→ presentatives and German long-ed Kingdom exports to Greater
as a guarantee against term creditors' committee, regard Germany to be maintained as be possible acts of piracy. ing the future service of other fore... German and Austrian long-term loans.
A
been
It is declared the object of the Both Governments have under-companies is to prevent pirates. taken, further, to negotiate with a
camouflaged as harmless passer- trade agreement has reached for a revision of the l-view to Increasing mutua! trade (gers embarking on ships with the and improving Angle German intention of subsequently attacking location for United Kingdom ex-
trade relations.
the crew and holding the "latter ports out of sterling proceeds from
These arrangements take effect up to ransom, which has frequently German exports to the United
occurred of late—(Transocean). Kingdom, on a sliding scale, which from today.-Reuter).
MONDAY, JULY 4, 1938.
K. M. A.
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