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FIRST EDITION WHITEAWAYS
Supreme Court
Hongkong Telegraph.
FOUNDED 1881
Na, 14039-
+AL THURSDAY, JULY 20, 1933.
SELLING DELUGE HITS NEW YORK
SLUMP IN DOLLAR
ROOSEVELT STILL OPPOSED TO STABILISATION
BACK TO OLD PARITY
London, July 20. Apprehensive of the effect of the "deliberate" devaluation of the American dollar upon the Bri- tish tariff schedule, Conservative members of the House of Com-3 mons have tabled a resolution, urging the Government to give 'n further measurc of safeguard where the existing benefits may be eliminated by exchange differ.
ences.
The American dollar slumped heavily to-day and reached its old parity level with the pound for the first time since Britain abandoned the gold standard.
The Immediate response to this situation was speculation in Lon- don Conference circles and city circles regarding the possibility of the United States now consent- ing to the stabilising of the dollar in relation to sterling.
NQ STABILISATION,
STOCK MARKET
TROTSKY AGAIN IN
ILL-HEALTH
Permission to Live On Riviera
Paris, July 19
The French Government have authorised M. Leon Trotsky, the man without a country, to reside in the South of France, including Corsica, for reasons of health-Reuter.
RECOVERY DICTATOR
PLANS APPROVED BY CABINET
NEW INDUSTRIAL.
CODES IN U.S.
Washington, July 19.
A SEVERE BREAK
ACTION TO CORRECT SPECULATION
LEADS TO RUSH
New York, July 19.
A deluge of selling hit the New York Stock Exchange to-day, precipitating crashes in values.
The wheat market was similarly badly hit, plunging perpendicular- : ly and closing weak.
Stocks were
In
or
swept overboard the selling of the recently buoyant "Wet" "alcoholic" issues, which at one time suffered losses varying from seven
| twenty-five points. .
to
The rush of selling orders carried the rest of the market with it, but to a lesser extent, the prices of stocks in other groups | dropping from two to seven points.
The Industrial Advisory Board composed of members of the The total turnover for the day Cabinet have formally endorsed was 7,463,000 shares, the largest
since May, 1930.
A message from Washington, the plans of Brig-General John- however, suggests that this is very son, the Administrator of Presi- unlikely.
dent Roosevelt's Recovery Act:
The "Recovery, Dictator" bas prepared a campaign for bringing
first place to reports that the leading bankers are considering. the taking of action to restrict loans for speculative purposes,
The broak is attributed in the
Despite the drop of the dollar to below its its old parity, it is be- lieved in well-informed circles in Washington that President Roose velt still considers that any stabi-all industry and business quickly and secondly, to the action of the into voluntary agreements for wngo brokers in raising the marginal raising and the limitation of hours. Tequirements from an average of Sings the textile code was ap-twenty-five per cont. to sixty per proved, there has been
geacrill cent.
in
lisation of the dollar at present would check the rise in prices the United States.
The weakness of the dollar acceleration of the programme and The action of the brokers led to attributed in Now York largely to the oil, coal, apparel and building a rush by the speculators who are speculation in a thin market and industries submitted their codes to without sufflelent cash to meet the to forward purchases of foreign President Roosevelt in order to margins.---Reuter. exchanges by American importers obtain the special privileges that who are anxious to protect them the Government can grant to selves from a further slump in those who put their business under American currency.
Federal supervision.
CONTRACTORS' CODE.
Buikling
contractorS
atmouneed
COMMUNISM IN GERMANY
The Duke of Connaught, who yesterday dedicated the Masonic Peace Memorial.
MASONIC PEACE MEMORIAL
FINE BUILDING DEDICATED
CEREMONY IN LONDON
London, July 19. The magnificant new head- quarters of English freema- sonry was opened to-day by the Duke of Connaught, the Grand Master,-in-the presence-of-six- TREASURY OFFER.
thousand brethren from all parts of the world. Meanwhile, as a sequel to the United States going off the gold that their code provides for an in
The building was erected as the atandard, the British Treasurymediate increase in employment us
SHOOTING AFFAIR
Masonic Pence Memorial and it has made an offer to exchange well as an increase in wages.
cost a million pounds to build. It Gen. Hugh Johnson, director of
AT RINTELN
contains seventeen lodge rooms. U.S.$130,000,000 of 20-year 5% per cent. gold bonds, outstanding the industrial recovery programme,
The building dedicated by the Berlin, July 19. Duke is to be the new central home from the loan of $250,000,000 rais-does not believe that special codes ed by the British Government in will be necessary for the woollen
Communist activity throughout for the craft. It is built in Queen textile divisions. The the country is reported by the United States in 1917, on the and silk
the Street, London. basis of £260 of 2% per cent. could operate satisfactorily under
The monument brought to com- in London on the ante submittel by the cation police, who state that their inves bonds, repayable
fer additional Higations have led to the discovery spletion by to-day's ceremony was February 1, 1937, for every thou-textile group. A sand dollars worth of gold bonds. clauses may have to be added to of rifles and ammunition in initiated in 1919, the day before If the offer is fully accepted, the suit the others but he believed this deserted mine in Thuringia, and the signature of the Treaty of
bombs and explosives in the Versailles. result will be an increase in the would, be areeptable.
neighbourhood of Dresden. 10 £28,000,000 principal from £35,000,000 but at the same time to? reduce the interest from £1,540.- 000 to £880,000,000.-Renter,
It was decided that £1,000,000 QUESTION FÓR OIL INDUSTRY.
A number of arrests have been should be raised for the building 16 WEEK
at and endowment of the structure revealed that the oil made, including twenty-two
has been obtained by industry fees a particularly difficult Rinteln, in Hanover, as a sequel and this problem in its progranine to reduce to an exchange of shots, in which you utary Bubscription. The production. While production will policeman and several Com-foundation stone was laid by the bo reduced under the recovery munists were severely wounded. Duke of Connaught six years ago.
POST FORCED TO system, the East Texas field was-Reuter.
LAND
BUT TAKES OFF AGAIN QUICKLY
reported in a position where it. was compelled to reduce to a greater) degree than others
Geologists reported that the East U.S. BUSINESS MAGNATE
Texas field, which has been flowing!
at a rate of about 1,000,000 barrels SHOT BY KIDNAPPERS
daily, will cease to flow entirely in
A year. After that, it will have to be pumped Moscow, July 19.. Larder to keep the field flowing Wiley Post hae again run luto unfavourable weather and he will and avoid the expense of installing be compelled to land to-day at pumps, producers in that area are hundred planning to reduce the flow at least Rukhlovo, some Roven miles from Habarovsk, for which half. he was destined.
other industries, will conform to
KING'S MESSAGE.
日八廿月五街
SINGLE COPY 10 CENTS $30.00 PER ANNUM
"EXCELSIOR":
Shotland Baby Wool
A beautifully soft-wool for making children's garments.......... In white and Colours.
NEW PRICE
75 Cts.
Ball of 1.97:
SILVER PACT STILL IN
No Trans- Atlantic Air Service Yet
STATEMENT BY SIR PHILIP SASSOON
London July 19. The Parliamentary
Under- Secretary for Air, Sir Philip Saa- soon stated in the House of Com- mons that representatives of the Governments in the United King dom, Canada and Newfoundland had been conforring on certain general questions affecting the possible future organisation of air services to and from Newfound- land.
He was was not, in a position to give any more detalled informat- ion at this stage but to prevent misunderstanding he had better perhaps emphasize that no crete scheme for a trans-Atlantic service was at present under dis- cussion. British Wireless,
con-
SPEED-BOAT DASH IN CHANNEL
“WHITE CLOUD” SETS A RECORD
London, July 19. Mr. Angus Miller, an ex-naval officer, made a double crossing of the Channel from Dover to-day in his speedboat White Cloud" in one hour and forty five seconds, thus breaking the record of sixty fiveļ minutes set up by Kaye Don.-Bri- tish Wireless,
DAMAGED SNAPS
WARNING TO OUTPORT PHOTOGRAPHERS
DUTCH CAMPAIGN AGAINST NAZIS
Leader Expelled. From Country
The Hagus. July, 19, All German Nazi organi- sations in Holland have been dissolved on orders from the Ministry of Justice.
The principal. Nazi leader, Herr Tyfkens, who has been expelled from the country, has established his headquarters at Aix-la- Chapelle, on the other side of the border.-Reuter.
ANOTHER
MAKING
BRIGHTER OUTLOOK
UNANIMOUS ADOPTION OF RESOLUTION
ONUS UPON BIG EIGHT
(Special to "Talagraph”)
thy Tarraph. Copyright, spraphte Messages Ordinance, 1981. Received, July 20, 8.73 a.m.)
London, July 19.
. Earlier reports that ef forts to achieve a silver agreement have entirely fail-
NEAR RIOT ed do not correctly re-
WILD CROWD AT BASEBALL
SITUATION: SAVED BY POLICE
New York, July 19. A reversed decision pre- cipitated a near riot in the first game of a double header, be- tween Pittsburgh and New York Giants in the National Baseball League to-day..
present the position.
The Big Eight, the silver pro- ducing countries and the principal, holding countries have almost |roached an agreement, United States and Chinese officials int- formed the United Press.
A meeting is being held at ten o'clock to-morrow morning (Thurs- day) in an attempt to consolidate the progress already made. Canada is now apparently the stumbling block to an agreement, with Mexico a close second.
CANADA'S VIEW.
The game was delayed for a sorb what others consider to be- They are now desirous to abe
quarter of an hour whilst 22,000 adequate shares of their surplus spectators milled, around the production.
stands and the players angrily Meanwhile, the Silver Sub-Com- mittee, comprising the Big Eight, and Britain, Holland, Italy and argued with the umpires.
Happily there were no injuries Japan, met to-day and unanimous- and no arrests necessary due toy agreed to the much and often. revised draft of the general silver; A number of entries in the Tele. the prompt intervention of the resolution, the text of which is, as paph Amateur Photographic Com- Police. Petition received from the Out-
the New York
follows:
RECOMMENDATIONS.
and
aro
ports, have been badly damaged The double header was of great] in the post owing to the fact that importance, as
"Be it resolved to recommend to they have been enclosed in thin Glants and Pittsburgh are occupy cnvelopes. Entries sent by mailing frtst and second positions all the governments that should be well protected by card respectively in the National Lea-parties to the conference, board. This ndvice should also be gue,
(1) that an agreement be sought taken in the case of local entries
Pittsburgh won the mutch fea-between the chief silver producing submitted by post.
those countrion tured by the disturbance, scoring countries four runs to the Giants' single, which are the largest holders or In this game the Giants were users of silver with a view to gulity of two errors, and made mitigating the fluctuations in the price. of silver and that other na- eight hits to the winners' nine.
tions not parties to such an agree- In the second game, New York ment should refrain from men scored seven times to Pittsburgh's sures which could appreciably three and were errorless. Pitts- affect the silver market. burgh, however, committed three
(2) that the Governments par errors and made a dozen hita as ties to this conference shall re compared with ten by the Giants. frain from new legislative mea- -Reuter.
Bures which would involve tho further debasement of their silver coinage below the fineness of 800- 1000.
AIR ARMADA IN NEW YORK
GIVEN WONDERFUL
WELCOME
New York, July 19. General Balbo's air squadron arrived from Chicago to-day and the crew were given a wonderful wel- come, passing through wildly cheer-
In the course of his replying crowds,-Reuter. to a telegram of loyalty, the King expressed the hope that temple "may stand for memorial to that spirit of comradeship which united Freemasons 'to-day in, re- membering that thoir brethren
ther
ever
AS A
KING AND QUEEN AT OLYMPIA
LITHUANIA IN
MOURNING!
ATLANTIC FLYERS BROUGHT HOME
Kovno, July 19.
** Fifty thousand people, including
Resistance Results inho made the supreme sacrifice in INSPECT ADVERTISING members of the Cabinet
Serious Wounds
Philadephia, July 19.
the Great Wär should never be for- İgotton." The Grand Master de- dicated the báilding, “To Free- masonry, to virtue and to univer- sal benevolence. British Wire-
This group, ILM in the cas of Frank A. McClatchy, brother and Ho decided to set off again al-Federal supervision designed to business partner of John McClatchy, lees, most immediately, but no news of keep production at a level with the Millionaire builder and real his arrival has yet been recelyed, domestic needs and thus enhance estate agent, has been seriously in- The airman cannot afford to lose the price.--Reuters
jured, very much more time if he is to succeed In his attack on the record.
To enable him to achieve his ambition, he should take off from Habarovsk for Fairbanks, Alaska, to-morrow at dawn.-Reuter.
USING BRITISH PRODUCT
AIR DEFENCE ADOPTS HOME MADE OIL
BRIGHT OUTLOOK FOR RUBBER
Probable Anglo-Dutch
Co-operation
the
The lingue, July 19. Dr. Collin, tho Primo Miulstor, accompanied by Dr. Wauls, the head of the Economio Section of |Dutch Colonial Office, have loft for
It is beloved that
He was shot whilst resisting two kidnappers, and is now in hospital in a grave condition.-Reuter.
CLYDE GETS BIG ORDERS
LEAGUE ASSEMBLY
MEETING
NOW POSTPONED UNTIL SEPTEMBER 25
EXHIBITION
London, July 19.
and
(3) that they shall substitute silver coins for low value paper currency insofar as the budgetary and the local conditions of each country will pormit.
EXCEPTIONS..
(4) that all the provisions of this resolution are subject to the fol lowing exceptions and limita tione: The requirements of such Diplomats, stood in mourning at provisions shall lapse on April 1st the Aerodrome here to-day whien 1934 if the agreemont recommend+
Olympia to-day and made a tour Lithuanian yera, Darius
The King and Queen visited the bodies of the trans-Atlantic ed.in (1) does not come into force by the date and in no caso shall and extend beyond January 1st, 1938 of all the principal features of the Girenas were landed.
Governments may take any action advertising and marketing exhibi-
relative to theft sliver, coinage: tlon in which the press, printing, advertising, and many other lead who gave their lives in the cause ing industries have collaborated of aviation, have been posthum
awarded British Wireless..
ously decorations-Router
SIR F. X. LEMIEUX.
Death Of Quebec's. Chief Justice.
Quebec, July 18. The death is announced to-day": of the Hon. Sir, Francis Xavier Lemieux, at the age of 82,-
Both of the intrepid
avlatora,
B number
ANGLO-SOVIET TRADE
AGREEMENT
COMMITTEE CONSIDERING
they may deem necessary to prevent the fight or the destruc tion of their silver coinage by real son of a rise in the bullion pricd of the silver content of their coin above the nominal or parity valug of such sliver coins,
DESPERATE STRUGGLE,
Efforts to reach international agreements regarding coffos, and Bugar have.collapsed, while the wheat and allver countries have had to struggle desperately tolg save something from the Confere ference wreckago.
London, July 19. The annual meeting of the Lengua Assembly due to boginon LARGE CONTRACTS September 4, has been postponed
QUESTION juntil September 25 The Secres UNDER: WAY.....
beriate decided on this step after consultations with the Governmenta Sir Francia, who was created à¦
London, July 19.. London, July 19. partly because of the continuation Knight in 1914, had been Chier The Committee dealing with Contracts for ships and machi of the Economie Conference until Justice of the Superior Court, the question of the balance of The coffee and sugar committee gece placed recally with development of notations made oven to 302 and Fulano Soviet Kleria. In comnction wit
wit Clyde July 27, and partly to give me for Dunbeseeings. 10ft Hovedl trade between Great Britain and adjourned without podtleg sprata The Home Defense Air Squad-
|Shipbuilding and ton is flying solely on oil extract-discuss with British experts the amount, to about £45,000,000 and upon which the President of the Judge, in 1897, 22
megotiations `for a now: trade od from British coal, stated. Sir, question of co-operation between work is already in progress, stated Disarmament * Conference, Mr. Ho-loaves-six-sous-and-atx agreement, -held-a^further-meets Phillp, Sassoon in, the House of the Butch and British Government Captain Wallace, Civil Lord of the Arthur Henderion is engagedien. daughters Our Own - Correspon. fats the Boards of:"Tradeći Commons. to-day-British Wira- regarding rubber, restrictions→→ Admiralty, in the Commons to-day. | The League C
meet on dont