OWING TO THE HIGH RATE OF THE DOLLAR, THE PRICE OF
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RECEIVED IN THE LATEST SHIP. MENTS HAS BEEN REVISED TO
$20
INVESTIGATE THIS MARVEL AT—.
CHINA BUILDING.
Talegraph
Pois, Lids sabel Flamphong.
Court
The
FIRST EDITION
Library
Hongkong Telegraph.
C. E. WARREN & CO., LTD.
FOUNDED 1801
No. 14876
一拜禮 號一十月三英港香 MONDAY, MARCH
11, 1935.
FIERCE
GREEK LOYALISTS ADVANCING
REBELS FALL BACK UNDER HEAVY FIRE
TO MAKE STAND IN OLD GERMAN TRENCHES
Athens, Mar. 10.
An official version of the Government troops' Macedonian offensive, commenced yesterday confirms the report that the rebel had fled without offering any resistance whatever.
GERMAN
FIGHTER
SCHMELING BEATS STEVE HAMAS
HUNTS LOST WORLD TITLE
:
Hamburg, March. 10.
日七初月二
BARRIER
TO TRADE
RECOVERY
PRICE LEVELS UNBALANCED
CANADIAN BANK "SOLUTION"
Montreal, March 10. The next challenger for the
Normal world trade cannot World's Heavyweight Boxing
be restored until parity between Championship will probably
price lavels has been achieved, come from Germany, in the
the Royal Bank of Canada says person of the former champion. burly Max Schmeling. To-night,
in its monthly letter here. The before 20,000 wildly cheering
letter points out that the most fight fans, Schmeling shattered
reasonable the hopes of. Steve Hamas,
means of main- American aspirant for the chal-
The ex King of Siam, whose fixan-
taining permanent exchange lenger's rights, and there cial future is mured by the im-stability would be the revalua by established himself
first mense sum ba will receive from intion of gold currencies on favourite.
aurance against unemployment.
basis approximating the recent changes in the value of gold in the United States.
The American lost on a technical knock-out, and was so battered at
The Government forces launched their attack after the rebel lines and troop concentrations had been heavily bombarded, aeroplanes persistently bombing the end of the ninth round that the behind the lines while the guns prepared the way for the infantry advance.
Satisfaction with the day's operations is express- ed by the Prime Minister, M. Tsaldaris.
The Under-Secretary for War, M. Rodopoulos, describes the advance of the Government troops as note- worthy. But he points out that the rebels will make the best possi- ble use of the old fortifications and trench system constructed by Ger- Buns and Bulgars during the Grent War.
The rebels are using light artil- lery in an attempt to hold up the Government' advance, but despite the labourn of the gunners it would appear that the fall of Serca is imminent, says Reuter,
The United Press reported earlier that the rebels were already com mencing the evacuation of Seren. They are st!!! harusand by the Government bombing planes.
Later
NIGHT OF FIGHTING
IN HAVANA
COMMUNISTS AND POLICE BATTLE
FOUR KILLED IN RIOTING
Havana, March 19. The Government of Cuba has A Reuter report from Athens declared Havana in a state of stutes that 150 rebuls, including siege.
few officers, surrendered to Government troups On the Macedonia front.
A
During the advance of
the 'Government forces four fleld guns
and two machine guns were eap-l tured, it is reported.
The city is quiet to-day after a night of continuous shooting and bombing throughout its length and breadth.
Communists and students fought police and troops, and four per General Kondylla has issued asons were killed and eight wound- communique claiming to haveed before the morning dawned. taken over 200 prisoners und ve
The employees of a British- guns, and to have dislodged the rebels from all positions where he owned railroad struck thin met resistance. By nightfall
paralysing transport troops were ten kilometres from Scres and would enter the town in thoughout the island. the morning. They would then trams and buses are running. proceed to Drama and Kavalla. Government troops' losses where only two killed and four wounded. Many rebels were wounded.- Reuter.
FRONTIER CLOSED
afternoon
Troops
A few
Are , operating
the
electric plant which supplies the city, maintaining a strong guard there.
President Mendietta contends that the strike is a result Communistic agitation and is a
of
Sofia, March 10. The Bulgarin-Greek frontier has been closed by the Bulgarian nu-dishonest effort. He therefore re- thorities.
It is reported that seventeen posts on the Greek side of the frontier, including the important post of Koula, on the road from Sofia to Salonika, have been de- sorted by the guards.-Renter.
AEROPLANE DOWNED
Paris, March 10.
from Reports reaching here Canea atate that one of the Gov- ernment aeroplanes which yester day bombed Canen and the War ships in the harbour, was brought down try gunfire from the war- ships batteries. The three of cupants of the plane escaped death and were imprisoned.
It is claimed no casualties re- sulted from the bombing.-Nonter.
fuses to relinquish his power. The other principal parties supporting tim-Reuter.
DEATH OF LADY CHATER
PASSES AWAY THIS
MORNING,
General regret will be felt at the death, which took place this morning, of Lady Chater, widow of the Inte Sir Paul Chater, "Grand Old Man of Hongkong." Lady Chater, who had been for about fortnight, passed away at 7.30 am. at her residence, Marble Hall, Conduit Road,
B
VICTORY CERTAIN
Athens, Mar. 10.
An old resident of the Colony, The defeat of the rebels is now un affair of a very few days only, Lady Chater had resided in long- declared the Minister of State, Mkong for very many years. Her husband predeceased her in 1926. Moxaxas to-day.
This Minister states that he has The funeral takes place to- boon shown wireless message, in-
morrow, passing the Monument at
torcepted by Government radio, at 4.30 p.m. showing that M. Venizelos, the rabola leader, realface the gams.he trial to play is lost,
referce stopped the fight.
Sehmeling outpointed Hamas in every round except the fifth. He floored Big Steve for a count of eight in the sixth with a terrific right to the jaw,
The German ex-champion main- tained a two-fated attack from the outset, and in the final round, hav- ing cut Hamas to ribbons, he knock- ed him down twice for the count of nine. In every round Hamas was punished severely. He was com- pletely outclassed.
Finally, covered with bload, cut badly under the eye, his mouth and nose bleeding profusely, he slag- gered about the ring. The referee intervened and aaved him further battering-Reuter.
Schmeling lost his title to Jack
Jasi
year,
Church War Flares Up
In Germany
NAZI PHILOSOPHY
"ANTI-CHRIST”
DEFIANT PASTORS
Berin, March 10.
The Evengelical Church war
ณ
One of the most important fac- tors contributing to delayed re- covery, "and incidentally to social and political unrest in Europe," is the deepening depression in the gold bloc countries, and pricv levels in the United States
and the countries which have abandor- ed the gold standard.
"Trade can only be resumed on
a normal basis when these price levela
Buys.
KINOLE OOPC 19 CENTS $16.00 PI AMKUM
DUNLOP
FORT
DUNLOP Fort TYRES
are made for those who prefer SUPERLATIVE QUALITY
CHINA HEADS FOR GOLD STANDARD
PRESENT POSITION
INTOLERABLE
CURRENCY AT MERCY OF AMERICA'S WHIMS
Princetown, Mar. 10.
The prominent economist, Mr.. Edwin Walter Kemmerer, former Professor of Economics of Prince- town University, in an interview with the United Press to-day, said that China's adoption of a managed currency would probably lead to the establishment of some form of gold standard.
He said that the United States silver policy had forced China to practically abandon silver, through the heavy export taxes and other restrictions.
Also, he said that there would most probably be a great slump in silver when the United States pur- chasing policy is discontinued, "resulting in the ac- cumulated hoards of silver in our vaults threatening to be thrown back on the market, and therefore over- hang the silver market as India's large reserves have beer doing in recent years."
INFLATION
some together, the letter SENTIMENT
REVALUATION NEED
countries, or a combination of
"This cannot occur without fur- Sharkey in 1933, and Sharkey lost has flared up again in Germany ther drastic defintion in the gold the championship shortly after- during the week-end, following countries, or as the result of wards when the Man Mountain, Carnera, met him. Carnera was the reading of a manifesto by of business and prices
great improvement in the volume In the beaten by Max Baur, the Califorian, pastors opposing Reichsbishop United States and the non-gold
and Baer has not yet de fended his title against an opponent Mueller's Nazi German Chris- both; or finally, as the result of who was given more than an off tian Church: The manifesto the revaluation of the gold in the belleve, is the logical challenger for was a daring document. chance. Schmeling, boxing circles
United States. Deflation in the gold countries is proceeding. so. From their pulpits the pastors slowly that revaluation seems the condemned the Nazi philosophy must practical alternative With
revaluation accomplished, as "anti-Christ."
manent exchange stability could Their manifesto declared the be maintained. new Nazi religion was a revolt
Baer's crown though -Baer - de-
feated him is a non-title fight nome-
time ago.
EX-KING'S INCOME ASSURED
UNEMPLOYMENT INSURANCE
CETS £40,000 A YEAR 。,
(Special to "Teisgruph")
cav Telegraph, Copyright. Telegraphis Maansgen Orfinance, Tapį. Resolved," Márea 2, 8.43.m.)
Paris, March 10.
English and French under- writers to-day began making payments, totalling £40,000 an- nually, to the ex-King Pra- jadhipok of Sium. The King. who has adbicated, has this ns. sured income through unemploy- ment insurance policies taken out some years ago..
The first premium paid by the former Siamese ruler amounted to
BAJOMYCHUNGUZIKETAN DI MIESTENINAUTARKASTEL
BRITAIN AND U.S. TO AID 'CHINA
Will Act Alone If Necessary
London, March 10...
The opinion has been ex- pressed here to-day, that if Japan does not join in the international action for financial aid to China, Great Britain and the United States may jointly grant the loan.
Meanwhile, in Washing- ton, observers predict an investigation to determine how poor China really is. Shanghar vernacular 'papers are opposing a foreign loan China, saying it is un- necessary.-United Presss,
to
£1,000,000. He has subsequently against the first Commandment, paid his premiums regularly. making a god out of blood and
GROWING
U.S. MAY AGAIN DEVALUE
Continuing, Mr. Kemmerer said: "The present rise in silver is
strongly pushing up the value of
commodity prices, in China, thus
money In China and lowering
Increasing the debt burden of the Chinese people and seriously damaging China's exports,
also that for years.
"It. to come, China's currancy, if abe remaina on the silver standard, would be largely at the mercy of the United States politically motivated silver purchases and, subsequently, silver sales.
This would be an intolerable.. situation for any nation. The United States is therefore forcing.
abandon the" silver
China to
standard.
to be a stepping stone towards China's adoption of some parman-
declared.-United Press.
NEW DEAL'S STRUGGLE Washington, March 9.- Inflation sentiment is gaining nerin Congress. The weakness of
commodities and sterling, "A managed currency standard coupled with Congressional will not be well adapted to thes "It would be a long step in this threats of wild inflationary legis needs of China or the characteris direction if the United States could lation, may causo the Presidenttics of the Chinese people. If it definitely stute that there would to devalue the dollar to fiftys adopted, it will probably prove be no further change in the value cents as a compromise. of the gold dollar: A statement of this nature would tend to bring about a flow of gold toward the United States, both becuase of re- turn of homo capital from abroad and because of the fear on the part of foreigners that some of the gold countries would not langer bo able maintain their present some what precarious position. With- out a statement from the United States, however, European coun- tries, including the sterling bloc, are naturally hesitant to discuss exchange stabilisation, although there is a general agreement that the question is of profound Im portance to the world.
No evidence exists of a British-ent form of gold standard,” he, American currency agreemont ·
Proapseta for all logislation are uncertain as a result of growing opposition to the New Deal.
Moderate regulation of holding companies and utilities is likely without the abolition of holding companies.
Railroad and coal minera strikes are likely in the Spring.
More than a seasonal decline in business between now and mid-; summer is expected.
The
drought continued
IB
"Gold supplies of most countries causing renewed anxieties for nort sunumer.Sun, Culbertson and are larger than they were in 1913 Fritz.... und 1920 and are adequate to permit a resteration of the gold standard, the letter sold,
With stabilisation on the basis CLAIMS AGAINST
Murgested (a 70 por cent. increnso
In the value of gold), danger "of | hoarding would have passed and freedoni of movement of gold in
AMERICA
all the important countries except GOLD CLAUSE AGAIN Germany could be restored.- United Press.
WHAT IS FATE · ·
OF DOLLAR?
New York, Mar. 10.
Members of the New York Stock
AN ISSUE
(Special to "Telegraph”)
CREDIT SCHEME FOR CANADA
NEW CENTRAL BANK IN CONTROL
(Special to "Telegraph")
Ottawa, March 10. The Ministry of Finance has announced that the Central Bank of Canada will open its doors to extend credit to the whole of
Canada on Monday, March 11.
This procedure is designed to direct the flow of domestic credit and to mitigate the fluctations of the Canadian dollar.
At the outset the Central Bank has $103,000,000 in gold and about $600,000 in silver na, a metallis currency backing-United Press.
LOCAL, DOLLAR UNCHANGED
MARKET QUIET ON OPENING
In addition to the income from race and nationality, honour and the
London, March 10. insurance companies the liberty. This setting up of blood
A joint legal action of investors former King has largo property and race as a force of national au- holdings in Siam and abroad which thority was
warned. will yield a handsome income, it tion, the manifeermining the na- Exchange to-day pointed out that in the United Kingdom, France, the problem of recovery might be Helland and Switzerland, to obtain will thus he enabled to live in the believed. He and his entourage,
solved for businessmen, market the American Supreme Court's re The Secret Police lasued a do- operators and bankers, if they could versat of its own Gold Clause de- fashion to which they are accus- erro forbidding the ronding of get a satisfactory answer to the cision, is envisaged in a letter tomed.-United Press.
the manifcato in any churches of question, "What is going to become accompanying the expert opinion Prussin, but a former submarine of the dollar?"
of the Committee's counsel, Mr. commandor, the Rev. Herr Neu-
Barnett Hollander, which has just
The Hongkong dollar opened mueller deiled the decrio in his They pointed out that if the been delivered to the London unchanged at 1s. 118. this mor own church at Dahlem, a fashion-answer meant degradation of the Advisory and Protective Coming, the business rate being abon
dollar, there would be no recovery, mittee for American Investments. 2s. Od. and 2s. 0.1/16d. The m
The Counsel's opinion foresees ket was very quiet, very except for speculators, who always | profit at wild inflation.
the possiblity of the Supreme business passion However, if some way could be Court over-ruling its own judg found to tell accurately where the ment if the foreign holders of Silver prices declardia Clupe dollar was going to be next year, certain United States Gold bonds London on Esturday Chiangofy much could be done to restore the can prove before the United States Americh bought whilst specula confidence necessary to re-open the Court that they sustained actual for operated both ways. The MAS
destinde jeuk was steady!!! capital market.----United Press. damages.---United. Prozs..
LOAN RUMOUR DENIED
Tokyo, March 10..
It was learned to-day that the
At to-morrow's meeting of the Japancao Foreign Office has denied The Air Force reservists of the will be Mr. the rumours that Japan is con- 1983 class Ave been called to the Rotary Club, the speaker was ablest templating a loan to the Brazilian
colours, however-Router Special. "Law and Hte Prophets."
Government United Pres9,
able Berlin suburb.
·
Sucrot Police agents at Stettin confiscated copies of the manifesto and arrested two pastors in an- other town in Pomerania who read the manifcato from their pulpits. They were released after the ser vice, it la understood.-Reuter,