CONFLICT OVER STABILISATION :
EUROPE ĈLAMOURS FOR BRITISH ATTITUDE
DOLLAR'S DECLINE
London, June 29.
The violent fluctuations of currencies entirely dominated the activities of the Economic Con- ference this morning. ́..
THE HONGKONG TELEGRAPH.
FRIDAY, JUNE 30, 1933.
Into, formal discussions, but has NEW YORK STOCK THE KING OF HADES kept itself Informed on progress.
The latest roport wherein there In understood to be the least sub- stratum of truth fa that M. Bon-
EXCHANGE
net of Franco suggests that an YESTERDAY'S MARKET Adjournment bo called unless a stabilisation agreement is reach- ed within, a week..
America's Isolation.
IRREGULAR
(Continued froni Page 6.)
1
thunder as a great storm came near, and the lightning flashed.
away. This
. He at once realised that he was In danger and called to the people saying "Quickly get Ughtning will strike nie," The people rushed off, but even as he spoke hu they all sald "Well, he is dead this was again struck to the ground, and time.”
According to Messrs. Bwan, Cul bertson and Fritz, the Now York market was Irregular yesterday, Mr. MacDonald met Mr. Cor-Business done 4,500,000 shares. The dell full again today and drow Wall Street Journal reports: After his attention to the seriousness of fluctuating erratically with the dol- the situation. It was reported | lar throughout the session, the market that as a result of this warning, dipped sharply near the close due to
But while they were all talking in the Americans cabled to Prisident
great excitement about the wonder. bearish attack on "wet" stocks for-fal way in which he was struck by Roosevelt suggesting the urgent eing National Distillers below the the lightning, and discussing the fact need of a definite pronouncement, Professor Moley took his Arst when he considers encli is timely, one hundred mark and declining the of his having recovered after, tho big plunge into active business, But an official denial of this has price of Owens-Illinois Glass more previous stroke, he once more opened conferring with his delegation.oll been laued. Meanwhile,, Mr. Cox than 3 points. Wheat prices were him home where he soon recover- - his eyes and groaned, and they ear- in reported to have reaffirmed depressed due to report of favourable ed.. Other delegations, metaphori America's refusal to discuss rains but later rullied on account of cally listening
and for Professor stabilisation
advised the short covering. Brokers' loans were: Moley's key note, in the intervals European nations to sack a solu- reported at $800,000,000 a decrease of $11,000,000 from Inst week's figure were holding conferences among tlon- among themselves. themselves, the principal of which
of $811,000,000. was held among the European gold bloc powern.
the subject of stabilisation.
Me
Delegates to the Conferonce who are working for a general stabilien- tion of currency, are aghast at the rapid slide of the dollar.
After
|
|
REPENTANCE REWARDED,
He hastily ran into his bedroom which was close by. There was a large black lacquer table in his room, and he hastily scrambled under the table.
After this second great reminder he was even more, determined to do good, so he took up the work of Time money was quoted at 3/4% teaching in the village school. He was a most exemplary teacher, being for 60 days and 1-3/4% for 90 days. extremely careful in his work, and he Cable received fromi Swan, Culbert- was very painstaking and industrious. The British delegation, led by Premier MacDonald and
Representatives of European gold son and Fritz, New York. Some sell. But one day, while he was teaching Neville Chamberlain, played an countries, while officially reaffirming materialized on threat that France in the school, he again heard the roll nctive part in direction anding their adherence to the gold may withdraw from the Conference of the distant thunder and realised mediation. They are acutely standard, are besieging Premier but the pressure was light. The irro- that the storm was coming near. conscious, however, firstly, that MacDonald in an effort to secure gularity is likely to continue tempor-
declaration linking up ster British support. Up to now theyartly on further dips but good buy-till the noise was like that of a vent Gradually it increased in intensity ling with gold_will_metn the have been unsuccessful, beyond ex-ing in likely to develop. Whent: drum which shook, the whole earth. Isolation of the United States, and tracting the assurance of the bene-
a frm opening the price of therefore would gravely jeopar volence of intentions of the British wheat declined on reports of favoura- be killed and it was not likely that Ite thought that this time he would siise the whole Conference; and, Government. Great Britain is evi- ble rains in the Northwest and Ca- he would revive again and survive the Accondly that there is deep dently difiident about taking sides anxiety among the gold countries in a conflict between America and nada. The break, however, uncovered dread disaster. that the dollar shall not carry the European gold countries, parti,new buying and the market rallied. down sterling with a devastating cularly in view of the wild fluctun-Cotton: Reports attribute the Gov. effect upon the trade of the gold tions of the dollar.
ernment's concern to the increasing standard countries..
The hourly reports of the im-difficulty of the curtailment plan to minent departure of one or another high prices of cotton which together Much of the work of the Con- of the European countries from with the improvement in the dollar ference is virtually suspended gold (except in the comparatively are the cause of un easier market pending the solution of the cur-insignificant ease of Estonia) have pending London developments and roney crisis. The American dele-heen promptly squashed officially.
further progress of the curtallment gation has not yet been drawn
operations, Purchasers appear to he Swiss Criticism.
| inclined to await good reactions.
June 28 June 20 Negotiations are also progressing Dow-Jones Averages between the heads of gold country 30 Industrials delegations and the Bureau of the 20 Rails Conference,
It is reported to-day 20 Utilities that one delegation even threatened 40 Bonds... to withdraw from the Conference Allied Chemical Chanters Allls if It does not obtain satisfaction
American Can in the shape of an emphatic American & Foreign declaration from the British de- Power legation on the subject of the American & Foreign stabilisation of sterling. This threat does not emanate from Swing quarters, but it is understood that American Smelting 30% the Swiss delegation strongly American Tel. criticised the calling of a confer Tel.
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stabilleation American
which so far had only had the effect American of endangering the currencies still remaining sound.
Thers are hopes in certain quar-Atas Corporation, ters that Mr. MacDonald will use Auburn Automobiles his influence to persuade the Bank Baltimore & Ohio of England to make the desired Bethlehem Steel declaration on stabilisation. If the Borden Company Bank declares its readiness to Borg Warner.....
Canadian Pacific stabllise sterling in relation to the
Railway French franc, Renter understands Case, J. I the Banque de France, in Co operation with the Bank of England is prepared to do ita utmost to pro- tect the guilder of Holland, and the Chrysler Swiss franc from further specula-Columbia live attacks.
Electric Professor Moley was closeted a Consolidated Gas of ng time this morning with Messrs. Corn Products
New York Hull, Cox, Warburg and Sprague, Douglas Aircraft lo consider America's approach to Drug Inc. stabilisation. It is expected that Du Pont de Nemours 774 a definite move towards stabilisa-
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For the
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104
0014
97.74 96.00 47.19 46.06 34.89 34.25 80.01 86.08 115 114%
20 8914
16
Power Warrants 11% American Metal Co. 17%
10%
11%
17
335%
120%
126
Tobacco
90 4
80%
Water-
works
3716
30%
Anaconda Copper ..
1016
10%
176
164
03
62
Chase National Bank Chesapeake
Cor- poration
2534
25% 41% 4014 35%% 3572 10%
181⁄2
17% 88% 28%
40
1716 88 27
3414
3042 334%
Gas
►
24%
23
G8
-574-
774
77%
16%
1514
00%
614
70
81
80%
36%
30%
84%
Ung.
24
23
37%
20
Railway
30%
ទ
235
20%
30%
36%
34%
3314
30%
39% 17%
184
5014 10
Locw's Inc. Lorillard P.
Lehman Corporation 7214 Liggett S Myers
9315 23% 223
New York Central North American Co. Pacifie Gas &
Electric Pennsylvania Rall-
Montgoniery Ward 24%
184 50 10%%% 72/4
02
2214 DOK
2144
41%
40%
32
314
20
29%
20%
30%
of
344 16%
6216 5114
447 37
3%
14%
4434
37
0%
0
102
134g 2476
&
10%
18
Share General Aviation General Electric General Foods General Motors General
Signal
It is understood that the Japan- Cue delegation has already made contacts with a number of delega- tions, including the British and American, to explore the ground Guld Dust for bilateral tariff negotiations, Goodyear Tire &
Mr. Kadono declared that if the
Rubber stabilisation of the franc, pound International
and dollar were reached, Japan International Har
Cement... would consider stabilising the yen,ente but at present they were unable International Nickel 18 to do so owing to the smallness International. Tel. & of the gold reserve. tory rate would be near to-day's Kennecott Copper Mr. Kadono believed a satisfac- Johns Manville level-Reuter.
SUBSIDIES ATTACKED. France and Germany Hold
Different Views..
SHIPPING PROBLEMS.
Tel.
London, June 29. Important declarations upon rond "the ruinous and fut!le shipping
Pennroad Corpora- competition" among the national tion flags, were submitted to
Phillips Petroleum the.
Public Service branch, of the World Conference, the Economic Commission, whichi
Tobacco Reynolds is dealing with shipping sub- kidles.
NJ.
*B*
Sears Rochuck The Fronch delegation belleyo Shell Unlon that while national protection of Simmons Company 17% shipping is in some cases legitim-Socony - Vacuum
ate, the Conference should draft Southern Cal. Edison 26
Corporation.... 137% an international convention to re- gulate the practice of granting Standard Gas
Electric
Modern, Satisfying Shave bounties, and also urges an agrog- Standard Oil Co. of
30,000 cubic feat of clean cool, conditioned alr
per minute;
at the QUEEN'S
This is not hot air !
37%
ment of the principal shipowners N.J. to establish international pacta for Texas
12 3831 3714 Carparation 2414 24 the working of big. trade routes Taxas Gulf 1phur 31 29 and the miting, of futuro con- Union Carbido
declared Union Pacific
Carbon
struction.
41 40% Germany, however,
11716 116 that the abolition of subsidios can United Aircraft & only be considered as part of an United Corporation 12.
Trans.
33% 3234 economic and financial action to United Gas, Im- revive world economy.
provement Norway and Holland supported U.3. Rubber the move for the earliest possible U.S. abolition of all shipping subaidies, Universal except where they wore necessary
Tobacco to maintain national sen
Westinghouse niunications on a particular route. Woolworth
M.
com.
Steal
11%
82
214
13%
18
68%
67%
45
45%
Just as he did so, with a great crash, the lightning struck the house and his bed and mosquito net were barnt to einders,
In an agony of terror he cante to himself and looked round on the scene of destruction that had been made all about him, but strange to say he found that he was still alive,
He then realised that the full measure of his punishment had been ucted out to him, and that he was still permitted to live in the work
Ren.
He continued to practise good deeds with great nasidalty and gave his whole mind and heart to the study of the Classics in preparation for enter- ing for higher examinations.
After three years he obtained the degree M.A., and lived in
pence for many years, greatly respected by all the neighbours. During his Inter
told years he constantly
people the story of his case in order to lead them to do right. He openly confers- ed his faults in great detail, not seeking to disguise his wrongdoing, and so he continued 'till the end of his days an example to many, and people far and near were greatly in- fluenced by his humility and truthful-
ness.
This was the result and the fruit of his repentance and the change over from the errors of his former life.. (All Rights Reserved)
CINEMA "SHOTS" AND “SEQUENCES"
(Continued from Pago 5.)
technical, artistic, or economic. The Film Institute will provide a clearing hobac of this kind, of information; it will catalogue, classify, and certify films, it will serve as a link between the producers and "consumers" of films, analysing the public's needs and tastes, and helping the film trade to satisfy them. It work for the production of more
more films of an educa- tional nature, and simultaneously try to open up a wider market, for their use. It will advise Government de partments and the Dominions and. Colonies on the use of films for in- stance, in the showing of filnis to nativo peoples In the Empire. Wherever there is publicity to be undertaken, and work to be done on behalf of good films, films of artistic merit,
of scientific rit, of imagination, value of worthwhile entertainment- will fall to the lot of the new Institute. It will not touch censor- ship, or try to interfere in purely trade matters; otherwise, its scope will be as wide as the terms in which Parlia ment last year defined the purpose of the new Cinematograph Fund— "the development of the cinemato- graph as a means of entertainment and instruction."
•
•
Alin trade, after an initial
Teriod of doubt, has come round
де п
to regard the new Instituto serious project, full of possible use- fulness for the future. This is shown by the appointment of three of its best known
to serve upon the
Council of the Institutes
will have its share in
RO, while
the
the interested put
will be invited to support the work. through
and
so to elect
its own repro on the coun
Local branches
be formed in the
provinces-indeed, in some
some cases, as at Liverpool and in Scotland, pro- vincial enthusiasm runs ahead of the មានរោម of the work in London, progress societies are being form- ed, having as their object close co- operation
with local picture-house managers, and the giving of organised publicity whenever courage is shown bringing down films whose box- office value is Jess certain than their artistic merit.
in
IN short, the start of the new Film Instituto means somothing more than the setting up of a new institu tlont it means the launching of a now movement, in which trade experience, progressive educational endeavour, and the enthusiasm of the Intelligent flmgoer will combine in an experi ment of great Interest and
promise.
SHARE PRICES
TO-DAY'S QUOTATIONS
The following is the list of local shara quotations issued to-day:
Banks.
I'kong Banks, $1770 b. and an. H'kong Banks, Londón, £130 m.- Chartered Bank-£14% n. Mercantile - Bank, A.
Mercantile Bank C., £91⁄2 n. East Asia, $98 n.
B.
Am: 0. Finance Corp., Sh. $20 n. China O. Fin. Ord.. 8h.$5.40 n. China O. Fin. Pref. Sh.35.00 n..
Insurances.
Canton, Ins., $310 b. 'Union Ins., $535 b.
-China Underwriters, 62.40 .
China Fire, $695 n. H.K. Fire Ins., $270 n. International Assce, Sh. $4.70 11. Shipping.
Douglas, $82.60. n. H.K. Steamboats, $18 n. Indo-Chinas, (Pref.), $80 11. Indo-Chinna, (Def.), 832 n. Shells (Bearer), 53/9 n. Union Waterboats, $15 m.
Mining,
Benguets, $33 n. Kullane, 32/6 n.
Langkats (Single), Sh. $17 n. S'hai Explorations, Sh. $3% n. S'hal Loans, Sh. $5% 'n. Raubs, $9.90 b. Venz: Goldfields, $5`n. Benquet Exp., 28 cts, n.
Docks, etc.
H.K. Wharves, $128 n. H.K. Docks, $16 b. 8. Chian Motora A., 310 n. 9. China Motora B., 88 n. Providents (old), $3.95 8. Providenta (new), $1.45 Hongkewa, Sh, $384 n. New Engineerings, Sh.38 n. Shanghai Docks, Sh. $149 n.
Lands, Hotels, etc.
H. & S. Hotels, $7.25 ea. H.K. Lands, $77 8. and en. S'hai Lands, Sh. $321⁄2 n Metropolitan Lands, Sh. $14. p. Humphreys, $14 b.
H.K. Realties, $7.75 b. Asia Realtics "A" Sh. $140 n., Asin Realtics "B" Sh. $20 лí. Chinese Estates $97 n. China Realties, Sh, $141⁄41⁄2 n. China Debentures Sh.$137 a.
Cotton Mills.
Ewa Cottons, Sh...$14.00 snI. S'hai Cottons, Sh. $109 n. Zoong Sings; Sh. $141⁄2 n. Wing On Textiles. (S) $98 n.
Public Utilities.
Tramwaya, $21.05/22. ka. Peak Trams, (old), $151⁄2 n. Peak Trams, (new), $7% n. Star Ferries, $92 n.
Yaumati Ferries (old), 281⁄2 n. China Lights (old), $13 b, and sa. China Lights, (new), $1231⁄2 n. HK. Electrica, $78 b. Macno Electrics, $33 n. Sandakan Lights, $10% n. Telephones, (old), $30 b, and sa. China Buses, Sh. $111⁄4 n.. Singapore Tractions, 1/- n. Singapore Prof., 13/--n.
Industrials.
Malabon Sugars $15 n. Cald: Macg. (old), Sh. $20 n. Cald: Macg. (Prof.), Sh. $18 n. Canton Ices, $6 m.
Cements (Com.), $6.40 sa. Cements (old), $6 n. Cements (new), $1 n. H.K. Ropes, $9 a..
Stores, etc. Dairy Farms, $28 b. Watsons, $108. Der A Wings, $1 n. Lane Crawfords, 84.70 s. Mackintoshs, $21 n. Sinceres, $14 n. Wm. Powells,- $2.10 n. Wing On (H.K.), $185 n..
Miscellaneous. Amusements, $123% n. H.K. Entertainments, $121⁄2 n B.C. Enterprises, $81⁄4 n. United Theatres, Sh. $4 n. Macao "Greyhounds,” $10 n. Constructions (old), $3.00 n. Constructions (new), $1 n.
B. Ind. &$ Bonds, 77% n. H.K. Govt. Loans, 8% b. Prem, Wallace Harpers, $8 n.
Ustially, it's the broadest hint:
that wins the slimmest riward.
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MAJESTIC
Love Cannot be Bought
She Found, Though Some May Sell Honorl
TO-DAY & TO-MORROW At 2,30, 5,20, 7.20 &. 9.20.P.M.
What most giris hold priceless she sold to the higheat' bidder.
"EVENINGS FOR SALE"
with HERBERT MARSHALL, SARI MARITZA.
COOL
QUEEN'S CLEAN
What
HAHA!
Blo
Ho
ROARS
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It's a
scream
STAN
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whoopee!
ROARS
Two Hours of METRO'S TIP-TOP: COMEDY & BURLESQUE.
LAUREL
Ha Ha!
|0000-ah/
Belly
Ho Ho!
Laughs/
SUNDAY
OLIVER HARDY
"The Laurel and Hardy Murder Case"
CHARLIE CHASE
in
"Hasty Marriage"
FLIP THE FROG
"Africa" Squeaks"
COLOURTONE BURLESQUE
“A HOLLYWOOD PREMIERE"
MICROSCOPIC
MYSTERIES
DESERT REGATTA
HEARST METROTONE NEWS.
For the Best
LOCAL VIEWS
··and'
PORTRAIT - PHOTOGRAPHS
Go To
MEE CHEUNG
Studio, Ice House St., 2 Branch, -7, Beaconsfield, Arcade