OF
BATHROOM FITTINGS
has just arrived. Pricos moderate, and the range falthfully reveals the trend of modern bath-,
room equipment.
arc
C. E. WARREN & CO., LTD.
China Building.
Tel. 20269.
"ght" "norther,
forw;Sath telahpwärzendag POZN," LAS,
1 & 3, Wyndham Street, Hongkong,
Lightl
High
Low V
Hongkong Telegraph.
No. 13745
FOUNDED 1881 XALXF SATURDAY, JULY 2, 1932.
日九廿月五
$36.00 PER ANNUM
SINGLE COPY 10 CENTS
DONLO
FORT
"South China Morning Post Bidg." Tol. 24554.
BRITISH FUNDS SOAR ON STOCK EXCHANGE
LAUSANNE
NEARING
SUCCESS
IMPORTANT
STARTLING JUMP IN CONSULS
PRINCIPLE AGREED WAR LOAN CONVERSION
FINAL PAYMENT
BY GERMANY
London. July - 1. The Chancellor of the Ex-, chequer. Mr. Neville Chamber- | lain. returned to Lausanne tu-| day to resume his work, on the Executive Bureau set up by thef Lausanne Conference to draft the final plan of the settlement of reparations.
The Buren which has beru ini almost coruitant session Mince Wednesday nigelit, met again this! morning following a visit to Mr. Ramsay MacDonald by the Ger», man delegates, Herr Von Papen and Herr Von Krosigk.
Agreement has been reached that the reparations problem must now centre round the com-! position of he payment to bej made by Germany in the final) discharge of her reparations Ein- bilities.
Differences are still outstanding regarding the amount and the circumstances in which this pay-¦ ment should become payable.
While the Committee of Seven is endeavouring to settle these! points, the experts of the various delegations
PLAN REACTIONS
SUCCESS PRACTICALLY
ASSURED
LONDON, JULY 1. THE SUCCESS OF MR. CHAMBERLAIN'S GIGAN- TIC VENTURE INTO THE FINANCE MARKET IS PRACTICALLY ASSURED BEFORE THE FIRST CLAIM FOR CONVERSION BONUS HAS BEEN MADE.
BRITAIN'S THREE MUSKETEERS OF THE TENNIS COURT
Win or lose the finals to-day, and the famous trio above have a great opportunity of capturing both the Men's Singles and Doubles at Wimbledon, Britain has caure to be exceedingly pleased with her Davis Cup stalwarts and to regard the outlook with some equanimity. Perry and Hughes won splendidly against one of the best French pairs yesterday to qualify for the doubles final. Left to right: F. J. Porry, H. W. Austin G. P.
Hughes.
The immediate response accorded the great scheme, whereby it is proposed to convert the whole of the Five RAVAGES OF
Per Cent 1929/47 War Loan, amounting to over £2,000, 000,000, which is in hands of three million holders, and to continue the loan at the rate of interest of 3 1/2 per cent. has given intense satisfaction. The Government's appreciation of its reception was expressed by the act- in Premier, Mr. Stanley Baldwin, in a broadcast speech reported below.
MR. BALDWIN
studying Bre
ON NATIONAL EFFORT
the
restoration
of
Mr. Baldwin said that it herstep forward will have been taken methods of making bonds tolmight judge by what he saw in towards cover the eventual payment.-the House of Commons last night,national prosperity," British Wireless.
in the papers to-day, and what he had heard being said everywhere, there was not a shadow of doubti that the public would
se this through.
TIENTSIN BLAZE
Going. Up
LORD SNOWDEN'S PRAISE.
JR., Prince George, at the conclusion of his speech at the Dominion Day dinner last night, said that if the response to the eonvorsin plan was successful. it might prove the beginning of
We have got a long way sines the critical days of basi nukumu. but much remains to be done. One of the obstacles is the burden of taxa better time.
tion. It is the duty of the Govern- ! This view as echoed to-day by ment to seize every chance of re- the former Chancellor of the
Mackenzie Godown during expenditure and thus re-Exchequer, Lord Snowden, who
TWO BRIGADES
AT WORK
Tientsin, July 2. One of Mackenzie and Company's largest godown's in the British Concession, -Tientsin, is blazing fiercely at one end, where a sheep- wool washing plant is also involved.
The Fire Brigade of the British Municipal Coaneil is working feverishly to prevent the conflas gration from spreading.
There is a grave danger that
when our
Thesi
THE
GOLD-BUG
FRENCH AND U.S. BUDGETS
-EMPTY COFFERS
Washington, July 1. The United States has ended the fiscal year with a deficit of G$2,885,000,000, as compared with G$903,000,000 a year ago.
POSTAVENIE POTESIRENSIC CENTENAR219631101503015062712998|EDICUTESTENIEND |
LOCUST PLAGUE
TROOPS AID IN STEMMING ADVANCE.
(Router's Special Service).
Dar-es-Salaam, July 1.
A great invasion of locusin on a front of over a hundred miles is occurring in Northern Terri- fory. Tanganyika.
The invasion is seriously menne- ing the valuable crops in this region and the nuthorities of Kenya and Tanganyika are cum- bining with the military to try and stem the advance of the insects,
is
JERUSALEM TRAGEDY
SCOTTISH COUPLE
STABBED
BURGLARS' DAGGER
ATTACK
(Reuter's Special Service).
Jerusalem, July 1.
Mr. and Mrs. Tweedie Millar, two Scottish-born re- sidents of Jerusalem, wero stabbed by burglars in the early hours of this morning. Mrs. Tweedie Millar was stabbed
|
BRITAIN'S
GREAT
CHANCE
PERRY & HUGHES IN DOUBLES FINAL
Wimbledon, July 1.
Past years have witnessed the British women players striving courageously to save the untional honour at Wimbledon. This year, they have failed rather ", badly, only to see their failure more than compensated for by the manner in which the men
have jumped to the forefront.
G. P. Hughes and F. J. Perry to-day played themselves into the final of the Mixed Doubles by a brilliant three-sets victory over Boussus, and Merlin, who as a doubles pair are considered in France to be only second to Cochet and Brugnon.
DOUBLE CHANCE.
The British Davis Cup team is therefore concerned in both the men's events and already—perhaps counting chickens before they are hatched-Britain is preparing to acclaim the British holders of at least one of these champions and
hopeful of both.
Perry and Hughes, who were playing wonderfully together and disposed of the opposition with ense after a keen first set, will to- morrow meet J. Borotra and J. Brungnon in the final. The com- bination is not considered so good as the Cochet-Brugnon pairing, but their sensationally clear vic- tory over the ex-Champlons and favourites. Wilmer Alllion and J. Van Ryn, the American doubles champions, has caused some earn-
The defien is roughly £600, LIVERPOOL MAN through the body and died before est thinking.
000 at sterling parity and well over £800.000.000 at the present rate of: exchange--Reuter.
Paris July 1.
A Bill to meet the Budget de- ficit of live milliards of franes (Frs, 5,000,000,000) has been j submitted to the Chamber.
during the amount to be taken discribed the offer as a bold ven-
It provides for cuts in expendí-j From people in taxation.
ture, but one fully justified by the ture of Fre. 2,500,000,000 and in- "It is providential that just greatly improved national financreased taxation estimated to pro-
cial position and the strength of vide the Treasury with Fre. 1,500,-| burdens most
He added: "It!600,000 in additional revenue. reducing there is this chance of British credit. making a very large saving in may well be the beginning of a the debt interest whilst scrupul-great trade revival. It will renew ously observing every obliga-confidence. which is an essential The tion to which the faith of the condition of prosperity.
success of the operation will have country has been pledged,
In profound influence throughout
the world."
-The greatest pre-war scheme for | the conversion of debt in this coun- try was that effected by Viscount Goschen in 1888. The immediate i saving then effected was £1,700,- 900 yearly.
The immediate saving aimed at
!
AUTHOR CONFIDENT.
The author of the scheme, Mr, Neville Chamberlain, declared that he had no doubts as to the
DKASTIC CUTS,
DROWNED AT LAICHIKOK
WENT OUT TO SWIM AND NEVER CAME
BACK-
dition.
DAVIS CUP “TRIAL".
any assistance was forthcoming. Her husband received two critical dagger wounds in the back and is
it is certain, however, that Perry iving in hospital in a serious con-and Hughes will regard thle n
serbous test for the Davis Cup The shocking tragedy has caus-apart from anything else and a jed a profound sensation among fast and furious game in to be ex- the members of the British com-pected. It was perhaps fortunate munity at Jerusalem and rigorous from this point of view that Perry efforts to trace the murderers are was dismissed from the singles and ¡demanded.
free to concentrate on the doubles. Merlin and Boussus bid Tair but
DISTURBED.
PASSPORT CLUE glars entered Mr. Tweedie Mil-Perry's dynamic play proved the
A drowning tragedy, in which the victim is a Bri- tish Ship's engineer, is be- lieved to have occurred at Laichikok yesterday after.
3. Herriot has chosen the Bri |lish method of effecting redue-! itions The expenditure on the; Army, Navy and Air Force is to bel reduce by Fre. 1,500,000,000 and a further thousand million frames will be saveil by a five per cent. cut in the pay of the staffs of the Civil Service.
So far, details are scanty, bul There are also to be mulilien- it appears that during the after-
noon.
It would appear that the bur-to give them a hard fight, lar's home in the early hours of turning point and the first set was this morning and made a noise won at 8-6, after which the French- awakening the occupants, who jmen played only as well as they The to piny. were permitted shouted to give the alarm.
The intruders inmediately at-second set was won at 6-1 and the tacked the couple with daggers third and final at 6-8. and led. No arrests have yet
WOMEN'S DOUBLES. been made.
The women's doubles final will be Franco-American, with Miss. Ryan starting and Miss Helen Jacobs
SENSATION
Mdle. Metaxa, who eliminated Mrs. Watson and Miss Harvey in tho semi-final to-day.
patriotic response that would betion in war pension allowances. noon a man whose name is given INSULL CONCERN [favourites against Melle. Sigart and in the present scheme is about 16 forthcoming, and he was com-! pletely confident of the success of: times as great...
Goschen was dealing with prae- the great operation. Its reception tically the whole of the national would give a good send-off not debt of that time. Our scheme only to the Lausanne Conference,
but to Ottawa as well
it will reach a large quantity of relates only to the war loan which
The salaries of the President, as Thomas H. Henry, went to the the members of the Cabinet and "By-the-Sea" Cafe at Laichikok, member of the Senate and left his clothes there and went for i
swim from the beach, Chamber are to be reduced.
Since then, he has nol
been
valuable cotton stared at the other is less than a third of the presem Government's Kunouncement was claring that the Treasury was a police that he must have been)
end of the godown and the French | National Debt. -
rushed.
ap to lend a hand in preventing
Fire Bridgade has been
this from Igniting.
The Budget Minister arged the necessity for immediate action, deseen, and it is presumed by the drowned. He is believed to have been a native of Liverpool, but at
police have present the knowledge of the ship on which he was employed.
The optimism created by the evident in commercial and indu-most empty.--Reuter. trial circles throughout the coun try to-day. Immediate beneficial import-results to brade are anticipated
DEADWEIGHT ON MARKET
*CIe for industry. This Kreat from the distribution of special
THE TYPHOON
Recurves to the North-East
The Royal Observatory. reporting on the typhoon this morning, says it has recurved to the north-east and appears to be stationary about 60 miles south-east of South Cape, Formosa.
Pressure is highest over the Pacific to the north-east of Japan, and a shallow depres sion covers Tongking.
The heme is of equal
mass of two thousand million bonds of one per cent, to all who pounds of stock bearing 5 per cent. convert this mouth, and the net interest has been a deadweight on saving of £33,000,000 effected by the capital market for many years. interest reduction gives Neither the State, nor the Colonial hopes of lower taxation, authorities, nor British industrica!
could obtain capital at the lower! ratos which the national credit really justified.
STOCKS RISE.
addled
there
On the Stock Exchange, was remarkable activity as a BC-
STOP PRESS.
no
BANKRUPTCY COURT
NO TRACE OF BODY. Searches have been carried out yesterday and this morning. but cern. so far no trace of the missing man has been found.
PETITION
Male. Sigart also appears in the Mixed Doubles Final, paired with Hopman aga ist Maier and Miss Rynn. Hopman and Malle. caused one of the sensations of the day by defeating the crack pair, Jag- Brugnon and Madame
Mathieu.
1
Results:-
SEMI-FINALS.
MEN'S DOUBLES.
G. P. Hughes and F. J. Perry (Britain) beat C. Boussus and
New York, July 1. An involuntary petition in bank-ques. raptey has been filed in the Federal Court against the National Electrie Power Company, which is capitalis- ed at G$600,000,000.
The Company is an Insull con-
Mr. Samuel
Insul, who lud charge of Mr. Thomus Edison's The police found in his clothes business affairs for many years, in President of the Common- a passport giving the usual parti-also culars and stating that Henry as wealth Edison Company, control 41 years of age.
ling the entire electric supply of Nothing is known about him be- Chicago, chairman of the
Service Company, president of in- sull Utility Investments Inc.. chairman, Chiengo Rapid Transit Co., chairman, North Shore and Milwaukee Railway und A dozen other concerns.-Reuter.
Chicago, July 1. Garner, running third in the This kcheme, when it in quel to the conversion announce race for the Democratić · nomina- through, will enable industry to ment. Almost unprecedented ad- tion for the Presidency, has relem-yond the evidence of the passport. get money it needs more cheaply,vances in Government stocks were and it will do more than any other recorded, the most notable being ed his ninety votes, which if given | new thing the Government or the the rise of 4 per cent. Consols, to Mr. Franklin Roosevelt will-
country' enn do at the presont which, after reaching 109, closed seenro his nomination. If a bar-
moment to set the wheels dustry going again."
of in-nt 107, which is 5.1/8 over yester-
day's closing price.
gain is struck botween the Garner Other British gilt-edged securi-and the Roosevelt factions Mr. PREMIER'S APPEAL tios made corresponding advances, Garner may possibly be nominated Mr. Baldwin read a letter from and in other sections a sharp risc
Industrial, debonas Vice-President. occurred in
Router.
SCOT WINS A.A.A. MARATHON
EXCELLENT TIME AT WHITE CITY
Public
NEW ILO. HEAD.
London, July 1. MR. H. B. BUTLER At the White City, In the Amn-
APPOINTED. teur Athletic Association champion- ships, the Marathon was won by
~*^ Geneva, July 1. D. McNab Robertson, of Maryhil Mr. Harold Beresford Butler, Later. Harriers, in 2 hours, 34 minutes, the Deputy Director of the Inter- Roosevelt has secured the nomi-82 3/ seconds, which le the second national Labour Office, was to-day
fastest time in England.
elected Director in succssalon to It comparts with Nurml's recent, the late M. Albert Thomas by world record of 2 hours, 22 minutes, twenty-one votes, out of 24 xB=!
Tht heat is intense and the task the Prime Minister to the Chun- ture preference stocks and ordin of the Fire Brigades is extremely cellor of the Exchequer in whichnry shares, many of which were
The fourth ballot has started and difficult. The damage in feared to the former said: "Holders of the more active than for several looks like a stampede for Roosevelt. be heavy, though it is, of course, loan, large and small, will I am months past. Impossible to form any estimates | confident, respond to the Govern- The huge task of printing the' at thin stage.
mont's appeal with the same good forms for the conversion schemo Mackenzie and Company are a will and patriotiam which the was begun immediately after the prominent firm of hydraulic pross British people have always shown Chancellor had announced the packers and commission agents, when a great national effort is ro-project last night, and has contin- with important branches in other quired. If every holder of the ued nince. It will be accomplish-nation-Reuter. parts of China, including Shang-war loan will play his part by ad wil in 24 hop
-
M. Merlin (France), 8-6, 6-1,
0-3.
J. Borotra and J. Brugnon (France) beat W. Allison and J. Van Ryn (United States), 6-3, 6-2, 0-4.
WOMEN'S DOUBLES.
Mdien.
Metaxa and Blgart (Franco) boat Mrs. J. B. Wat- son and Mian Harvey (Bri- Lain), 7-5, 6-2.
Miss Ryan and Miss Helen Jacoba bent Mello, Payot and Miss Thomas, 6-1, 6-2.
MIXED DOUBLES.
arid
II. O. Hopman (Australian)
Mälle. Sigart (France) boat J. Brognon and Mdme, Mathieu' (France) 0-4, 0-4.
E. Maider (Spain) and Miss Ryan beat Henri Cochet (France) and Mrs. Fearnley Whitting- sinil (Britain), 7-5, 8-0, 6-1,
FINAL.
WOMEN'S. SINGLES. Mis, Helen Wills-Moody (USA)