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A

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The Scenic Gem of Malaya

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Modern throughout and beautifully Situated

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Malaya's Premier Hotel

Food and Wines especially good

AFTER-DINNER DANGE

Every Wednesday & Saturday.—Urchestra Darly

CABLES ·RUNNYMEDE“

RUNNYMEDE HOTEL, LTD. George Guldsack, Manager

EUROPE HOTEL

SINGAPORE.

RENOWNED BY RECOMMENDATION"

DANCING: After Dinner every Tuesday, Thure-

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Cables "EUROPE" Singapore.

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$725 a year will produce $10,000 at death or $20,000 at the end of 20 years if you survive. NO MEDICAL EXAMINATION. Other terms on application to

CHINA UNDERWRITERS, LTD

THE

HONGKONG TELEGRAPIL FRIDAY, JANUARY 8, 1932.

BATHING BEACHES.

RECLAMATION SCHEME AT

NORTH POINT.

Rumours that the Government intends to resume posscasion of: the North Point beaches have enused considerable concorn among the Chinese athletic ana0- clations, including the South China Athletic Association, the Chinese Bathing Club, the Chinese Civil Servants' Club and the Chin ese Athletic Association which havo their own bathing pavillons in that district. It is understood that the Government has been con- templating for some time resttm- ing the benches in connexion with a reclamation scheme and the de-i velopment of North Point.

اره

From an offletal of a leading Chinese athletic sociation representative

Chef Prens learned yesterday that the ciations had built their pavilions an the understanding that the Government could reauric the sites at any time it chase, the per- mits being renewable every year. Whole Community Affected.

The Chinese cunununity strong- ly diafavours the Government's decision, according to Mr. Mok Ying-kwal, the Chairman of the Chinese Amateur Athletic Federa tion, whose opinion was sought by our representative, The Chinese Amateur Athletic Federation, in the ruling body of Chinese rathle. the nanociations in Hongkong.

Mr. Mok said that the Govern- ment decision would affect the en- tire Chinese community, as the Chinese associations had come to the eppelusion that the North Point benches were the most con venient for this form of rerres- tion is the summer, being within easy reach of Chinese of the mid- dle classes.

Mr. Mok sald that Hongkong being densely populated It was imperative that suitable bathing benches should be provisled for the middle classes who could not afford to go to the distant beaches, Mr. Mok added that so far the nasociations had not been inform- ed of the Government's decision but because of the rumours he had i referred the matter to the Chinese representatives in the Legislative Council.

He understood that the Hon. Mr. S. W. Tso had communicated with the Hon. Mr. H. T. Greasy. enquiring as to the P.W.D. de- partment's intentions regarding reclamation but so far the Hon. Mr. Tao had not received an off- cial reply.

As the resuming of the North Point beaches was a matter of vital importance to the Chinese, added Mr. Mok, the lending Chin- ene athletic associations affected by the decision would meet this afternoon nt the South China Athletic Association to discuss what steps should be taken.

GRAVE SITUATION IN AMERICA.

UNPARALLELED CREDIT

STRINGENCY,

Washington, Jan. 7. Unparalleled nation-wide credit stringency is revealed in the report of the Senate Banking and Car- rency Committee, urging the adop tion without delay of a Bill estab- ishing an Emergency Corporation, and showing how the man-in-the- street is very hard hit.

The Committee records a marked increase in borrowing from lu- Auralice companies by policy holders, and as a result many companies have been compelled to realise depreciated securities in order to maintain the loans, policy holders paying the losses.

The assets of American banka which have closed since the crisis exceed G$2,000,000,000. Altogether

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LIFE ASSURANCE DEPARTMENT Committee deciros, this series securities on which to be able to embarrassed, many of their bonds the American expert trade "at not excceding twelve

Telephone 28121.

Hongkong Bank Building,

in

of failures must be stopped." but numerous banks

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raise funds, while the capital of being disqualified as investments present is without many others la exhausted through for savings banks and being now necessary means of support."

the usual which it la hoped will facilitate depreciation.

the export of farm produce and practically unmarketable. Also, the railroads are greatly

An Emergency Corporation is manufactures-Reuter's American The Committee deplores that being empowered to accept bills Service.

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12

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