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The
FIRST EDITION
Hongkong Telegraph.
FAR OF WEDNESDAY, APRIL 24, 1935.
日二月三
FOUNDED 3431 Tol. 20269.
No. 14872
U.S. MAY RAISE SILVER PRICE
ADVANCE BELIEVED
IMMINENT
HONGKONG DOLLAR AT
TEN-YEAR HIGH
Washington, April 23,
Another increase in the United States silver price is believed imminent.
The new price is expected to be between 76 and 80 cents.
In New York to-day Messrs. Handy and Harmon, bullion brokers, were quoting silver at 69% cents per ounce. The present Treasury official price in U.S. is 71 cents..
SERIOUS STRIKE THREAT
CHEVROLET PLANT SHUTS DOORS
UNION WALK- OUT DEFIED
(Special to "Telegraph")
Inv Telegraph. Carrion Telegraphie Meanager Ordinance, 1894, Kaerivad, Apri 21. 040 cm.)
Toledo, April 23.
its
The Chevrolet Motor Company plant, and thereby threw 2,340 to-day closed
Toledo (Ohio)
men
out of employment. The company took this action after 600 members of the United Auto
Workers' Union had walked out, following the rejection of their
In Montreal silver futures were upward 265 to 300 demands for recognition of their 'points due to the rise in London silver prices.
Transactions amounted to 840,000 ounces.
Silver prices were the highest in New York since 1925 due to the rise in London prices,
The London riae is considered to be mostly technical' due to the fact that many sellors have not yet re- turned from their holiday,
Most of the demand was from the Far East and United States buying was not indicated.—United Preas.
U.S. NOT BUYING
London, Aur. 23. The opinion was expressed among well-informed circles on the bullion
METALLIZGALMAYACATALYTI JAKA SUPAYAK JEDE ZNANIUM SELJANDEZ The official rate of the Hongkong dollar on opening this morning was 2s, 20., an advance of a halfpenny on yesterday's closing rate.
The business rate carly on was 28. 27/8d. sellers and Za. 3d. buyers. The market is very steady.
MANY DIE IN PERSIA 'QUAKE
NEARLY 500 BODIES NOW RECOVERED
RECURRING SHOCKS
(Special to "Telegraph")
(y Telegraph. Coveright Telegraph Miamasa Ordinance, 187), Receled, April
SENALINESE VAR. M.) market here to-day that the rise
London silver prices WAB "largely technical, with the absence of sellera still on holiday. There Is no sign that the United States is buying officially."--United - Press.
MINES HIGHER
Now Yurk, Apr. 23.
Union and revision of the working hour and wage arrangements at the factory,
The situation is being watched very closely by the entire auto- mobile Industry In view of the possibility of a spread of the strike to other plants-Reuter Special.
SILVER JUBILEE SPECTACLE
LONDON GETTING
READY.
London, Apr. 23, More-than-two-thousand-locnt authorities in Britain are complet- Paris, Apr. 23. ing the preparations for next Recurring earthquake shocks, month's Silver Jubilee celebra- since April 12. In the Persian pro- tions. vince of Mazandaran, have resulted
in the deaths of several hundreds
In most cases, local Councils
China, who has returned to Tokyo, Mr. Ariyoshi, Japanese Minister to
10
report
favourably on Sino- Japanese relations.
Bonus Bill
Means New
U.S. Taxes
MR. MORGENTHAU'S WARNING
VETERANS ADAMANT
(Special to "Telegraph”)
(Da- Telegrankar Coveright,
Telegraphie Messages Ordinanow, 1394, Received, April
Washington, April 23.
Mr. Henry Morgenthau, Secre- tary of the Treasury, testifying before the Senate Finance Com- mittee to-day, said that any War Veterans' Bonus Blit now pending would require additional expendi- ture on the part of the Adminis- tration if it were approved, and would therefore call for additional- taxation.
Should a Bonus Bill be passed the Treasury Department was prepared to recommend a new federal inheritance tax with view to raising between $200,000,- 000 and $600,000,000 annually. of persons, according to a message | have voted funds for decorations from Teheran.
and Illuminations. Bonfires, pro-Morgenthau that the Treasury's It was pointed out by Mr. cessions and treats for young and financial plans wore based upon old, in addition to thanks-giving the President's Budget, and upon services, are to be features com-credit of the United States de- strict adherence to this plan the
pended. mon to most local celebrations.
Already 488 bodies have been The Wall Street Journal, report ropovered from the ruins of build- ing on market conditions, states ings in the neighbourhood of Sart that mining stocks were strong, and much damage has been done. due to rising silver prices, plus the expectation that the United States Communications have been cut will shorly increase further the off entirely. domestic silver price-Sivan, Cul- bertson and Frite.
WON'T COMMENT
Washington, Apr. 23, Questioned by reporters regard- ing the possibility of another in- crease in the domestic silver price in view of the spurt in foreign aliver prices, Mr. Henry Morgen- thau, Becretary of the Treasury, replied: "Do not bet any money on what we will do," adding that the Treasury is acting hour to hour, indicating that a decision might be possible at any time.
One of Mr. Morgenthau's nasist ants in the Treasury said that they are watching the situation closely,
Tremors have been felt in a wide ares, as much as 260 miles away Reuter Special.
NEW YORK MARKETS
U.S. DOLLAR FIRM AGAINST POUND
(Special to "Teingraph”)
New York, April 23.
It is, however, certain that the Mr. Morgenthau warned that Itoyal processions and procession- was likely to be seriously affected major spectacles, including the the market for Government bonds drives, will bring unprecedented should new expenditures be in- numbers of sightseers to London, curred beyond the budgetary and most elaborate arrangemonts mits, which would upset the have been made for orderly stand- 'reasury's financo plana and tend
ing of the crowds. All along the to retard recovery;" routes of the main processions, platforms have now been erected
Asked whether his warning in- on every available site, and pylons cluded the Harrison Bill, Mr. draped in blue and gold and sur-Morgenthau answered In the af- mounted by Royal emblems have firmative..
BOSTON FAILS AGAIN
f
GIANTS NOSE OUT RUTH'S NINE
DETROIT FUMBLES
New York, April 23. Boston Red Sox, Cleveland Indians, Washington Senatore and Chicago White Sox were winners in to-day's American League baseball matches. Detroit Tigers, favoured, in some quartare to win
defeat. the ponnant, suffered another
New York Giants bent Boston Braves, Babe Ruth's outfit, nosing them out in an eleven innings game. Brooklyn Dodgers scored the most decisive win of the day, beating Philadelphia by 12 to 5. The day's results, na cabled by Reuter, follow:
AMERICAN LEAGUE
New York
(Crosetti homered) Boston
R. H. E.
4 9 3
I
7 10
1
St. Louis
G 11
8
Cleveland
7 11
1
(Halo homered)
Washington.
G 14
0
Philadelphia
4 13
2
(Johnson homered}
2 10
2
711
1
Detroit
Chicago
NATIONAL LEAGUE
G 10 3 Philadelphia ......
(J. Moore and Camilli homered) Brooklyn
12 13 1 (Frey and Cuccinello homered) Chicago
5 7 3 (Hartnett and Demarce homer-
ed) St. Louis Boston,
SINGLE OOPY 10 DENTE 1600 PER ANNUM
DUNLOP FORT NEIDE
DUNLOP
fort
TYRES
are made for those who prefer SUPERLATIVE QUALITY
AMERICAN NAVAL BILL SLASHED
NEW CONSTRUCTION
CAN WAIT
DEFENSIVE STRENGTH BELIEVED ADEQUATE
(By Telegraph. Copyright, Telegraphis Messages Ordinance, 1894. Received, April 24, 10.10 a.m.)
Washington, April 23. The High Command of the United States Navy believes that the country's sea forces in their present state are incapable of carrying on an aggressive war with another world power, declared Admiral William Standley, Chief of Navy Operations, testifying before the House Appropriation Committee.
He added, however, that he believed the Navy was capable of repelling an attack upon the shores of America. Further, when the Navy had reached Treaty strength, towards which they were building, it would be as powerful as any afloat.
Reducing by $15,000,000 the Administration Budget estimate of $29,380,000 for new naval construction, the Committee indicated that it considered the Administra- tion might wish to defer the commencement of con- struction of the proposed twenty-four new ships, to replace vessels considered obsolete, until the forth- coming Naval Conference met.
MARKEDLY.
IMPROVED
RELATIONS
SINO-JAPANESE SITUATION
MR. ARIYOSHI'S
OPINION
Tokyo, April 24.
The Committee added that a course of this sort should be In-
terpreted as an expression of
America's faith and confidence that the principle of limitation
will survive and that a now and
better accord would result from the Conference-Reuter Special.
SECOND TO NONE
Washington, April 23. The House Appropriations Com- mittee to-day began consideration of the Navy budget,
Representative Cary, of Ken- Lucky, chairman of the sub- Committee on Naval Appropia- tions, demanded a navy "second to none."
"With war clouds hanging over Europe and trouble in overy quar- The Japanese Minister to China,ter of the globe, our safety de- Ariyoshi. just returned to mands that we bulld to Treaty Japan, granted an Interview to strength. newspapermen to-day and Cx- "Hnd we spent a fow millions pressed the belief that the Sino- on our Navy in 1914 we would not Japanese situation had improved have been drawn into the War, very markedly.
thereby saving billions of dollars and thousands of lives," he said.
BLOCKS EXPENDITURE
12 J
Ď
ե. 9 2 (Whitney, Jordan and Hogan Mr. homered)
New York
G 14" 0 There were eleven Innings)
(Bartell and Terry homered.
Pittsburgh Cincinnati
(Byrd homered),
4. 8 1
3 7 2
SPORTSMAN SUCCUMBS
LORD TWEEDMOUTH DIES IN LONDON
ין
He said it was unnecessary for Japan to opposé an international loan to China'unless such a loan should jeopardise China's unity. The Committee reported favour- precipitato International contrai ably on the $465,286,261 peace of the country or injure the time record Naval Budget for friendly relationship. existing at 1935, including $350,000 for im- present between China and Japan. Provements at Pearl Harbour. It failed to approve, however, the Navy's request for additional funds to dredge and widen Pearl Harbour channels. The Bugdet remains. $174,879,098 higher than that of 1935.
-Reuter.
INTERVIEWS HIROTA
Tokyo, April 24. After holding an interview with (Mr. K. Hirota, Japanese Foreign
Minister, Mr. Arlyoshi, Japanese the Committee slashed in half the Despite the increase, however, Minister to China, who has just Administration's projected now. returned here from Shanghat do buliding programme, which called clared in a press Interview that for 21 ships, on the grounds that Sino-Japanese relations had been it can be started later under considerably improved, especially special appropriation in the event
(Special to "Telegraph”)
Telegraph. Copyright. Telegraphie | Within recent months. Harga Ordinancs, 1104. Recaived,, dpG Si. 10 ani)
been erected. Elsewhere, schemes This information was some- for decorations of street and bull thing of a shock to Administration dings are being rapidly advanced. Joader who believed that the Among the distinguished vial- Harrison Bill, which was a com- tors to London for the occasion promise with the original, and Bonus. Bill would be ac- the Dominion Prime Ministers will contable to the Government and
Regarding the problem of the of the Naval Disarmament Con-
ference proving elevation of the status of the
unsuccessful. tako д prominent place. The
London, Apr. 23. Japanese Legation in China ho Otherwise, the Committee The dollar was irregular but already here, Mr. R. B. Bennett, bonda to vetorana which may
Prime Minister of Australia is would not entail additional taxa- tlon. It suggests the issue of
expressed the opinion that it proves generally the provision for possibility of another increase infirm against sterling and easy Prime Minister of Canada, Ganer exchanged, at current rates, for mouth, O.M.G., D.S.O., M.V.O.. herself, without consultation with ment's second year phase of the be Lieut.-Colonel Lord Tweed should be decided upon by Japan kcoping stop with the Govern against gold currencies on the Senator Adams, commenting on day.
foreign exchange market here to-al Hertzog (South Africa) and cash, over a period of three years. late of the Royal Horac Guards he urged that the Legation ofico bring the Navy to Treaty strongth the Chinese Government, However,ve year programme, which will Mr. G. W. Forbes (New Zealand) the, climb in the London silver
will arrive within the next few Earlier, a spokesman of the and formerly Lord-in-Waiting to now functioning in Shanghai be by 1940, `. price, said: "I do not see any On the New York Cotton Ex-days. Some of the many Indian American Legion' rejected the
immediately removed to Nanking The Committee recommends an BBcapo from a dollar price for change prices were slightly down-rulers who will take part in Lon- Harrison Bill and demanded a full His Majesty the King, died in for the convenience of the increase in the air strength of the silver as demand is in excess of the ward. The market was quiet with don have already arrived, and cash payment to War veterans as London nursing home to-day of Minister.
country and of enlisted ranks and floating supply of the metal."-traders apparently indisposed to others are on their way to Eng- provided in Mr. Claude Vinson's double pneumonia, at the age of
officers-United Areza. Router.
" make commitments due to the un- land.
original Bonus BlReuter cortain situation.
Special.
· but refused to comment on the
price.
SHANGHAI POSITION
Shanghai, April 24,
:
T
JUBILEE TRUST FUND The bulk of the trading was routine with further switching Finance and Commerce, in its tending to narrow the differences evoked by the Prince of Wales' A record response and been report on the oxchange market for between deliveries. tho, week onding April 20, refers
recent broadcast appeal on behalf
to the "Gentlemen's Agreement" Pro-notice day May liquidation of King George's Jubilee Trust, between the foreign and Chinese was smaller than anticipated, In- which is to be administered in the banks, says it may be all very well dicating that the position has interests of the youth of Britain. se a temporary expedient, but it beon fairly well evened up. -- The appeal was addressed to has been pointed out with con-
'all classes of the community, and siderable truth that the exchange unchanged to
On the Silk Market prices were small subscribers were invited to of a country cannot be indefinitely
one point lower send donations in unatamped on- controlled by such an agreement. Delor and uptown accounts evelopes. Over: $32,000 has al- It is highly unnatural," says ported spot delivery against the ready been received In such a way, the Journal, "for nur exchange to
sale of forward positions,
A further 10,000 letters have yet be so far below the practical parity A small volume of hedging in to be opened, and more are arriv of silver, and these unnatural con- forwards was absorbed by coming by every post-British Wird
(Continued on Page 7) misalon houses-United Press.
CHANG FLIES TO KAIFENG
MILITARY UNITS. TO BE INSPECTED
4
BRITISH ARMS INQUIRY
It is intimated in the Japanese 61. He was a distinguished sol- Foreign Office circles that the elevation of tho status of the dior and sportsman.
Japanese Legation in China, In The son of the second Baron kooping with the improved rela
tions between the two nations, Tweedmouth was a dashing rider has already been made a definite and polo player. He played polo policy of the Japances Foreign against the United States, and on
Office. All the relevant pointa the occasion of the visit there he concerning this problem are said
FIRST SITTING to have been discussed during the won a much-coveted polo pony conference hold at the Foreign
NEXT WEEK from an American millionaire by Offico yesterday between Mr.
London, April 28. walking downstairs on his bande, Hirota and Mr. Ariyoshl Hmkow, April 24,aving served with distinction believed, China's financial position private manufacture of and trad
At the same conference, it is] The Royal Commission on the loft for Kaifeng by aeroplane this Tweedmouth was made Military the Japanese standpoint, the pre-publie meeting for the hearing of General Chang Heueb-liang in the South African War, Lord was exhaustively discussed. From Ing in arms will bold Its: first morning where he will inspect the Secretary to Lord Selbourne. He posed international financial aids oral evidence on May 1. Government troops in the fold. also served in the Great War and to China in the form of a big
Afterwards he will probably was mentioned in despatches, win-loan would do more harm than on behalf of the League of Evidence will then be submitted [travel to Shenai-Routerine de ning the C.M.G-Reuter Special.good to Chips-Central Newe Nations Unlon,British Wireless,