Library, Supreme Court
BATHROOM BEAUTIFUL
CE WARREN & CO., LTD.
China Buliding.
Hongbong Telography"
for The South Chios Morning Prat, Ltd,
1 & 3, Wyndham Street, HöngkƐng.
The
1/6.)}}\/161.
5.59
Hongkong Telegraph
Tal. C.169
FOUNDED-1881.
- NO
一拜禮 姚三十月正英港香
MONDAY, JANUARY 13, 1930.
EFFECT OF FALL IN CHINA AND SILVER ANTI-SOVIET PLOT
THE DOLLAR.
DETRIMENTAL TO IMPORT TRADE OF COLONY.
INTERESTING OPINIONS BY BIG
LOCAL FIRMS."
SLUMP.
GOVERNMENT NOT TO
INTERFERE.
SHANGHAI DEALERS GOING BACK ON CONTRACTS.
DEMAND REDUCTIONS,
RECENT QUESTIONNAIRE. free market of silver.
ALLEGATIONS.
#
COMMUNIST NEWSPAPER'S STRANGE STORY.
ATTACK FROM PERSIA!
Berlin: Jan. 12. Further extraordinary. allega- tions against certain high "German military officers and others in con- nexion with the alleged plot to overthrow the Soviet Government, "disclosed" by'ni prisoner, in a note forgery trial are made by the Communist newspaper in Rotefahne.
434 PER ANNUN
BNTACT SINGLE, COPY, 10 CENTS
JAPANESE SHIP BEACHED.
RUN ASHORE TO-DAY AT JUNK BAY,
BADLY BATTERED ON TRIP FROM KEELUNG.
BROUGHT INTO PORT.
As a result of a terrible voyage
severe gales from Keelung. the Japanese steamer Kohatsu. The journal allegen that
Maru, had to be beached in Junk General von Kressenstein, an'in-
imate friend of the Minister of Bay in the early hours of this Defoncé, General Groener, arrang-morning in order to prevent her ed the first meeting between sinking and becoming a total Karumidze, a former member of loss.
Maru encountered
the Kohatsu bad weather
Shanghai, Jan. 13. Mr. T. V. Soung, the Nation- alist Minister of Finance, in the course of an Interview, stated that the Government does not intend to interfere with the
He added that taxation would be worse than useless, and that the Georgian Parliament, who is Leaving Keelung on the morn-. The T/T sterling rate of the dollar appreciated an eighth peace and order and the restora-the principle accused, and the ing of January 9, to 1/64d. in the Colony, in sympathy with a slight improve-tion of industry represented the Inte General Hoffman. [
A number of conferences, the practically from the start of an ment in the price of spot silver on the London bullion market. only effective cure. «
It is interesting to note that the dollar is quoted at 1/7/1⁄2d. Meanwhile, Chinese piece-paper declarck, wire held at Ger-eventful voyage.
goods dealers here in Shanghai man headquarters in the Caucasus, Heavy winds and mountainous in London.
seas were experienced before she In view of the very wide interest publicly taken in the are being severely hit by the at which the British General who in 1919 commanded the British
was many miles out, and the ship currency lasile and the Colony's trade prospects in present decline of the tael.
troops that took over the had a. continuous struggle to circumstances, the Telegraph has circulated the Colony's majority have refused to take cupation of Georgia from the remain afloat." leading port and export firms, seeking their views on the delivery without a reduction in Germans was present, and at which
Kressenstein's prices. The situation is grave, von following questions:
Chief of (1) What is the effect of the low dollar on the Colony's inasmuch as 10,000 cases of Staff drew up plans for a revolt woollens are due for delivery by in the Caucasus against Russia, Assuming the Import trade to be adversely affect the end of the month.Our Own Karuwidza supplying the necessary would the disadvantage be offset by increased exporta? Correspondent.
(8) Would the Colony's best interests be served by a bellar, and if so, how could stabilisation be
Do you consider the situation warrants the appoluizsent by the Government of an expert to advise on this problem? Appended aro a number of replies already received and the Telegraph hopes to be able to give further replies in the next day or two,
CONTROLLING INFLUENCE.
4 prominent German firm writes ing a larger volume of business, expressing › appreciation at the but whether such increased ex- opportunity afforded of expressing ports will compensate for the dis- their views on the present ex-advantage on imports is a inoot 'change position, and replying to point, and one on which no one the questionnaire as follows; can forecast with any degree of (1) Whilst now Import orders certainty, It is, however, a safe are practically impossible if bused assumption that the larger the on the present quolations, de- exports the greater would be the livarios should improve in the purchasing power of the country near future, as all orders given (3) Hongkong being a distri- 'during the previous months by the buting centre for South China, "Chinoso dealers should leave them stabilization of the dollar will only a fair profit. Inough we baheye) be possible if China first adopts that after March fair orders will such a measure. be given, the European piecegouds). business expecially will be strong-
ly hit, as Japanese factories and
Supply and Demand,
|
The
་
Black Shanghai Outlook,
1.
Shanghai, Jan. 8. Possible widespread business fallüres in virtually every class of commerical undertaking, including banks and importing and exporting concerns,
were reported by Chinese banking circles this after- noon when the Mex...dollar reach- Led the low level of 34.7 cents goldi
The money crisis is due to the depreciation of silver, which de preciation has been steadily fh censing for the past year but which has undergone a startling neceleration for the past month. The situation seems destined to become even more acute,
information.
At fast the constant battling
with the elements caused the Kohatsu Maru to strain herself, after which she faced further bad weather in a semi-crippled state,
Soon
The German. officers, the Com-
Commenced Leaking. .. unist paper finally allegas, rejected "the British idea of an attack
afterwards, the ship on the Soviets from Porala, pro- developed a leak, and water com- posing instead an attack frommenced to flow into the "engind room, rising to a height of four Turkey-Reuter,~
fect. Captain Sone, the commander of the Kohatsu Maru, then ordered distress olgnals to be sent out, and it was realised that unless aid came quickly, the ship would have to be abandoned.
JEWISH PEACE
LEAGUE.
SUGGESTEL ANNUAL TAX ON JAWS
Berlin, Jan. 12. A new "Jewish Peace League" was inaugurated at a big public meeting held here, presided "over by Dr. Wassermann, Director of the Deutsche Bank,
The speakers included Dr. Leon Feuchtwanger, the author of "Jew
Export Trade Paralyzed.
Chiffeso financiers stated to-day that as a result of this situation. import and export trade is para-Suess."
zed, "which, if it continues, is Dr. Albert Einstein sent a mes- bound to result in failures."
wholesale sage to the meeting, declaring that Jews should head the peace move-
It was further stated that do-ment and proposing that every mestic trade is at a standstill as'n Jew should pay an annual peace result of years of civil wars which tax of one mark-Reuter. have rendered the rural popula-
tion unproductive and unable to
DUN LOP
British and Best
THE BRITISH NAVAL OUTLOOK.
LONG REPLY TO FRENCH MEMORANDUM.
MISAPPREHENSION REGARDING ADMIRALTY PLANS.
TRUST IN PEACE PACT.
"It would not conduce to the success of the Naval Con- ference if the various Governments entrenched, themselves in positions-based, perhaps, on misunderstandings-from which they could not recede," says the British Government in a Note of Reply to the recent French Naval Memorandum,
The Note says that unless a beginning in naval reduction is held to be justified by the measure of security aiready afforded. by the many treaties concluded since the war, the public will be disappointed and the tendency towards the expansion of arms, which is only too evident already, will develop, and nations will again seek security in military preparations,
The British Government is prepared to exchange views with the Mediterranean” Powers on the subject of the non- aggression treaty, proposed by France.
COMPREHENSIVE ELUCIDATION.
London, Jan. 13. Įnations will be taught, once more The British Government, in its in practice, bo trust only to mili-' Reply to the French Memorandum tary preparations for their securi of December 20th-on the Naval ty.
Conference, expresses apprecia- “Hia... Majesty's Government": "For some reason, however, pro-ion of the frank and friendly earnestly hope that the nations at- bably owing to a larger station scattitude of the French Govern- tending the London Conference cidentally "Jamming" the Kohatsu ment in furnishing so comprehen❘may by an agreement on reduced Maru's less powerful installation, give an elucidation of their roint naval strengths, register their con-
not received, the messages were
of view, and in reiterating, their fldense in the great advance made : and the ship had to continue to
nssurance that they are deter-since the war in the provision of fight the elements unaided.
Captain Sone then decided that mined to make the conference national security by political although he was quite close to Buccessful
|asrcement. Hongkong, the chances of his get the London Conference," the Ronly.
"In fasuing their invitation to
French Distinction. ting his vessel safely into the harbour were small indeed. Acment considered it would not con-sorve, with interest, the distinction continues, "the British Govern- "His Majesty's Government ob cordingly be made for Junk Bay, duce to the success of the con- drawn in the French gemorandum where the soft mud of the foreference if the various Governments between the Pact of Paris and the shore was suitable for benching
were to entrench themselves, be-Covenant of the League. the craft,
Vesset Beached, Shortly before 2 a.m., to-day the commander ran the ship ashore, and further messages for aid were sent out. In the mean time, however, massages received in Keelung from the steamer were relayed to Hongkong, and the full seriousness of the position was, realised.
Immediately they received the to pay the farmers for their pro- OFFICES AND MESS BURNED news, the Taikoo Dock despatched OUT YESTERDAY.
maintain its usual purchasing DOCK COMPANY FIRE power. This has led to an ac- (4) If the Issue is confined to cumulation of goods in Shanghai
IN SHANGHAL merchants are doing all they can the value of silver vis-a-vis the together with huge stocks of silver to use this opportunity to enlarge dollar. as we believe it is, the which normally go into the interior their businesa and to substitute situation does not warrant the European "chopa" by Japanese appointment of an expert to advise ducts.
on the problem. On the other hand if the Hongkong dollar divorcas itself from its silver
one#,
China's Influence.
(2) China's export trade wil parity and is kept at a level higher undoubtedly gain, but as most of or lower than its real value, there South China's export business is would be scope for the appoint- being done in Canton, this ment of an expert to inquire into Colony's loss in import trade will the situation. There is no pro- probably not be offset by ahlem for Hongkong to solve if the sufficient gain in export.
world's price of silver declines:
f
$200,000,000 Coming.
Chinese bankers stated that the
silver in Shanghai totals 600,000,- 000 Mex, dollars, while an addi- tional $200,000,000 in en route to China and is due to arrive before February 1, which will add to the
Shangha, Jan. 13. Fire has destroyed the offices and mess of the Dock Company at Pootung.
Keswick, went out and towed the ship to harbour.
for the conference opened, in "They would suggest, however, positions based, perhaps, on that the two documents may also, misunderstandings-from which they could
be regarded as complementary one not recede, nor of the another... In the Invitation did the British Government
"
"From this standpoint, the Pact. refer to of Paris, by its renuntiation of the obligations contracted under war as an instrument of national the Covenant or to questions of policy, may be held by the States national security and such ccp-which are members of the League they are of Nations to leave a completed" aiderations, because clearly inherent in all disarma-structure of peace, which the more language of the ment negotiations and must be inrestricted the mind of every nation taking Covenant had, for a time, left un-
Anished. part in the conference.
Elementary Obligations.
the tug. Taikoo to the aid of the Kohutsu Maru, and
"His effected
Majesty's Government suficient repairs to allow her to
accept fully and unreservedly" all he brought anfely to port. Later,
"One of the-great advantages of the obligations of the Covenant, the Kowloon Dock tug. Henry the frequent meetings at Geneva which; however must not be held is that the Governments have to involve a delay in progressive opportunities to understand each steps for disarmament, for which Messrs. Wada and Co., are the other's respective positions and the Pact of Paris is the justifica- Hongkong agents for the Kohatsu problems, and His Majesty's Gotion. Maru. which is a vessel of 2,800 ernment felt that it way unneces
A. Misunderstanding. tons nett. She carries a crow of sary to recite elementary obliga-] 40, with five Japanese officers, but tions, internal and external, but
"His Majesty's Government nota has no provision for passengers. I rather to concentrate upon the Chinese
important problems the suggestion of the French On her fast voyage she was carry supremely
Government that it is doubtless ing coal and general cargo,
which have to be faced; The ship is now lying in Kow-
"The considerations, set out in due to the absence from the loon Bay, prior to being taken to such a friendly spirit In the Kellogg Pact of any provisions for dock.
French Memorandum, will, of its methodical application that course, be in the minds of all the they have been deterred · from). delegates.
contemplating any considerable "It is true that there may not reduction in their. naval establish yet have been devised complete ment. machinery of sanctions to enforce His Majesty's Government the various peace agreements now dostre to remove the error upon in existence, but, in the meantime, which this observation rests. | much has been done, and His "In response to the better pros
Majesty's Government place con
Five foreigners, including one who has just returned from Home leave, lest their entire belongings, untenable situation.
including furniture purchased in Meanwhile, prices have begun | England. an ascent and are expected to gain The Brigade had a terrifle tussle acceleration rapidly, while wage with the flames and a scales are not following a similar fireman was injured. Our Own movement. The outcome of the Correspondent." old-situation is not apparent yet.
Price Raising. (1) Because the fall in the The cost of living in China, de- dollar has been abnormal and pendent in many ways upon im- udden, it is living a very deports, must increase immediately, trimental effect on the import and local firms have already com- trade of the Colony,
i pleneed to raise their prices.
(3) As the reason for the pre- this is obviously an outcome of sont difficult situation is not the the lows of supply and demand. drop of the Hongkong dollar, but of silver in general and the sub- soquent loss of China's buying power, our opinion is that a stabilisation of the Hongkong dol lar could not much improve the Colony's import trade.
British Viewpoint.
Abnormal and Sudden. The taipan of a very established British import export firm, says 2---
stabilises her currency.
•
and
chance.
THE PEAK SHOOTING TRAGEDY.
INQUEST TO BE OPENED ON WEDNESDAY.
ILLNESS OF THE REV. F. C. YOUNG.
RÁTHER MORE ENCOURAGING
JULLETIN.
th
1
the
A leading British firm auya: In reply to your letter of (2) It is possible that the dis This in turn will cause demands January 9, inviting our views on advantage may be offset by in- for higher anlaries and wages, and the points, raised therein with creased exports,
It is fairly obvious that most The Telegraph Fas been inform- reference to the low gold value off (3) The Colony's best interests people in Shanghai will have to ed by Mr. W. Hamilton, the
siderable trust in the fact that 56pects of peace and of international the Hongkong dollar and its likely would be served by a stabilised tighten their belts up. another Coroner, that the enquiry into the
On enquiry at the Matilda countries have declared their in-Agreement, the British proposals,:
as a matter of fact, provide for a tention to, renounce warns an effects on the trade of the Colony dollar but nothing could be done notch or so. On the other hand circumstances surrounding the Hospital to-day we learned that instrument of national policy and very considerable reduction in the we submit the following replies to In this direction unless China exporters will now have their deaths of Mr. and Mrs. G. W. C. the Rev. F. C. Young, minister of to resort only to pacific, means for strength which the British Em your questionnaire.
Burnett, will be held on Wednes- (1) A low dollar increases the (4) At the present time, I do not Chine, unfortunately, is not day afternoon, in this week at 216 Union Church, had passed a better the settlement of International dia pire has considered necessary in
night and was this morning, putes. cost of Imported articles, and it is consider that the appointment of yot: to the position where she p.m.. fair to assume this that, for aa financial expert to study the could take full advantage of such pariod at least, the tendency will Colony's currency problem is an opportunity, as there are few bo for a curtailment in the necessary or desirable. volume of imports. On the other]: hand, it must be borne in mind that the majority of articlos.
A well-known local financier, Imported into China for consump tion in the country, are not mand-answering our questionnaire, says: (1) Naturally, the low dollar is
To the Good in the End,
mills and factories compared with the country's potentialitles, but those that are already operating
·will no doubt make good use of the low silver rate.
FINE TO CLOUDY.
FOOCHOW TROUBLE.
better than might be expected."W
Mr. Young was removed to hospital on Thursday suffering from pneumonía, and his condition
Beginning. Justified. "Unless a beginning in the re- on Saturday night was so serious duction of naval armaments is held to be justified by the measure that it was found necessary to of security already administer oxygen.,
all categories of combatant vessels from capital ships to sub- marines."
Limitation Methods. Regarding the reference in the achieved French memorandum to the system His numerous friends in the though the Covenant of the Lea-of the limitation of naval urma gue of Nations, the Quadruplementa by global tonnage, the Reply Colony will join us in hoping that Treaty relating to the pacine states that the British Govern- he will soon pass the crisis and trenties. of Locarno, the signature meat have consistently expressed eventually be restored to good of the Optional clause of the their preference for dealing with, -health,
Statute of the Permanent Equrt of the troblem of naval disarmament International Justice by 81 coun by the strict limitation of types tries, and finally the Treaty, for tonnages, and guns of all cat the Renunciation of War, public gories of warships, since they Tothar expectation will be diskinointed, feel confident that the tendency towards the expan method of limitation must tend to slon in arms, les p ovident already, vilk det
SITUATION NOW UNDER CONTROL. factured in the country, so that at present having a very serious
Fuochow, Jan, 13. Ha needs of those commodities effect on the Colony's Import must continue, and at some paried trade, though when prices have The Royal Observatory reports Civil Governor of Fukien, is now Admiral Yang Shu-chuang, the or other a return to normal trad-adjusted themselves, things should that the anticyclone has weaken in control of the situation, follow- ing must be experienced.. gradually improve. Not for some ed and is now central over the Yeling last week's coup à etal.,
Purchasing Power,
time, however, can any appro- Jaw, Sea. Fresh monsoon `along_ Attempts at demonstration have The return of notifiable diseases clable improvement be expected. the SE. coast of China and over been suppressed. General Lu for the week-end showave cases (2) The Colony's export made the China Sen. The forecast till Hain and few troops from Yen of small-pox and two of diphtheria should pick up shortly and noon to-morrow is-NE, winds, ping arrived, but have now return-
(Continued on Page 18.) fresh, fine to cloudy.
(2) It is tolerably certain that $12 the doll settles at a low level,
dll be stimulated, reflect
Renters
All were Chinese excepting one of
preserve
(Continuediona