HOT WATER SYSTEMS INSTALLED
TO ANY
CAPACITY.
Systems designed to
save fuel Costs.
CONSULT
C. E. WARREN & CO., LTD.
China Building.
Tel. 20269.
The
FIRST EDITION
Hongkong Telegraph
FOUNDED 1881
No. 1078
五拜體 號六廿月四英港香 FRIDAY
APRIL 26, 1935.
日四十月三,
SILVER EXPECTED TO GO HIGHER
WHEELER FORECAST $2.18 AN OUNCE
WILD EXCITEMENT IN ALL MARKETS
(SPECIAL TO "TELEGRAPH")
New York. April 25.
Silver circles anticipate the wildest silver market yet seen and all agree that it is only a matter of a few days before another increase in the U.S. Treasury price will become necessary.
In view of the avowed Treasury policy to continue purchases until a price of $1.20 an ounce is reached, they doubt if the Treasury at present can make additional substantial purchases on the world markets, expressing the opinion that there is no incentive how for specula tive holders to unload until the price of $1.29 an ounce has been reached. At that point it is held probable that the Treasury will be compelled to absorb huge quantities of the white metal with a view to maintaining the price, unless the movement for silver devaluation, in the same ratio as Gold, grows in strength and would permit a statutory price of $2.18 per ounce.
Meanwhile, expressions of de- light have continged from "silverites,"
Senator Wheeler, si: "IL simply means that sliver is on the way to $1.20 an ounce. What I Want to see Is silver fixed at a definite ratio with gold and I am going to continue
thet la remonetise silver at 16:1, which would mean $2.18 per ounce at the present gold price." ·
my
Senutor King said that he look ed for silver to supplement, if not take the place of, gold. "We will soon have a bi-metallic standard for all nations. Our country is
leading the way back to bi- metallism."-conétucted Senator;" King-Renter
Landou, April 25,
ANOTHER PROTEST
BY CHINA
AMERICA FORCING
HER CRISIS
RESOURCES LACKING
Spacial to "Telegraph") Triegraph. Copyright. Telegraphio Mugen Ordinance, 1414- Seceived, Apri
• The rise in silver prices here to-day was attributed solely the United States having, raised 1272 22 em the price of domestic silver.
Washington, April 25, Mr. Alfred Sze, China's Minister The silver market was very to Washington, to-day Informally excited throughout the morning: informed Mr. Cordell Hull, Secre- Interviewed by the press, onetary of State, of China's deep and continued concern at the United
of the City's leading ballion States Government's silver pur finers, Mr. S. S. Abelson said:chase policy, "It looks as though America has
deckted that silver shall he put Mr. Sze inter informed news-
on a higher basis permanently."
China and India hought heavily and there was an insufliciency of offerings. United Arras,
HIGHER PRICES FORECAST
papermen that he had discussed the question with Mr. Hull,
He added that he had explained that China was now faced with the same situation, as that which confronted America in 1953. The difference is that China has not Washington. Apell 25. the Representative James Scrugham. States had to meet the problems resources which the United Senator Burton K. Wheeler and arising from the crisis.-Renter Senator William H. King to-day Special. unanimously forecast that the price of silver would be $1.29 ori above, very shortly.
Senator
Pat McCarran
CHINA'S CONCERN
Washington, April 26. The Chinese Government to-day Nevada, forecast the remonetisa-again notified the United States tion of silver at the $1.29 level. Department of State of its concern United Press.
at the steady increase in silver
PURCHASES TO CONTINUE
Washington. April 25, The Secretary of the Treasury. Mr. Henry Morgenthau to-day indicated that the United States Government would continue to by
prices,
Dr. Alfred Sze, the Chinese Minister to Washington conferred States Secretary of State. with Mr. Cordell Hull, the United
After the conference Dr. Sze in China was approaching an internal A statement to the press said that
silver until the price reaches economic crisis similar to that in $1.20 or until the Prensary's silver the United States in 1933.-United stocks reach one-third of the Press. value of the gold stocks-United Press.
CO-OPERATION URGED
Tokyo, April 25, In view of the United States silver price increase it la expected that the financial and monetary exports here may reconsider their: opinions which they expressed at
pund table conference on Wednesday last
7
CASH BONUSES
FOR VETERANS
U.S. SENATE BACKS HARRISON BILL
In a recent nimic "war", the British Homie Best and the Mediterranean feat engaged in pitched battle for eight days. Photo shows onomy Baffin aeroplane attacking anroplane carrier, H.M.S. Engle. It is "rupposed to drop bombs and make a gotaway. The manoeuvres ware hold in the
Atlantic,
Borah Will
Compete For
Presidency
SEEKING REPUBLICANĮ
NOMINATION
WESTERN BACKING
(Special to "Telegraph")
tly Tegraph. Copyright. Telegraphle Messages Didinaner, 1894." Retriend, April;
Seattle, April 25.
Senator William E. Bornh, Re- publican from Boise, Idaho, will, seck his party's nomination for! the next Presidential viccțion and will attempt to defeat President Senator William E. Barah, who Roosevelt's faction with a revived may be nominated, on the Republican "Republican war party" behind ticket, in the next U. S. Prealdential him. These fact became known 10-day with the announcement in) Seattle of the formation of the i first "Borah-for-President Club."
Senator William E. Borah is Idaho's most outstanding political Agure. It was Senator Borah, who incidentally has served in the Senale since 1907, who practically for he is a man put Mr. Herbert Hoover into office, fence with the Western party of immense in- members and a power in National Republican ranks, accordingly,
and has consistently opposed the Senator Borah is an 'isolationist,"
entry of the United States into the
League of Natious or the World Court. In both directions he has byen auccessful.
He has been chairman of the Sennte Foreign Relations Com- mittes since 1924, and has served with distinction as chairman or groups.-United Press. member of various other Senate
election.
REDS
CAPTURE
LOPING
TERROR SPREADS IN YUNNAN
DESPERATE FIGHTING
Yannanfu, April 25. The fall of Loping. Yunnaй
Quarrels With Royal Academy
STANLEY STENCER
RESIGNS
PICTURES REFUSED
(Special to "Telegraph")
Telegraph, Copyright. kleasten Didinance, 20. Bill and
Telegraphie
1801. Krevived, Apest
London, April 25.
A sensation has been created in the art world of London by the action of Mr. Stanley Stencer, well-known painter, in resigning from his associate membership in the Royal Academy,
SINGLE SOFT 10 CENT
$28.00 723 ANKUM
DUNLOP
Fort
is unequalled by any other Tyre in the world
LOCAL DOLLAR RISES STEADILY
FURTHER ADVANCES IN PROSPECT
SHANGHAI REACTS TO SILVER REPORTS
There was a sensational advance of 1d. in the sterling rate of the Hongkong dollar this morning, bringing the official quotation to 2s. 5d. Since Mon- day, the dollar has risen 3d., and there are prospects of a still further advance.
.To-day's rate of the dollar is the highest seen since 1924, in which year the quotation rose to 2s. 5gd. Leaving out 1924, we have to go back to 1922 to dis- cover a rate of 2s. 5d.
The market locally was very strong on opening, the business rate being 2s. 6d, sellers, with buyers holding off.
CROYDON
GOLD THEFT
THREE MEN ON TRIAL
AGED SUSPECT
·DISCHARGED
(Special to "Telegraph")
De Telegraph. Copyright, Telegraphlo
26, 8.30 am)
London, April 26, The trial of three men charged with breaking into the "bullion room" at Croydon and carrying off a quantity of bar gold and sovereigns, valued at £21,000, was commenced at Croydon to-day.
The three accused are: Cecil Swantand, 47. an artist; Silvio Mazzarda, 38, commission ogent;
Ho is offended because the Heunges Ordinance, 1884. Received, Aprü Council refused to hang two of five pictures he sent for this year's exhibition, namely: "St. Francis and Birds," and "The Lovers."
Mr. Stencer maintains that as he is an associate member of the Academy he is.ontitled to have all his pictures hung without ques- tion. He' is specially annoyed by the Council statement that its members did not think the works which they declined to hang were [of advantage to the artist's reputa- tion, or to the influence of the Aendemy.
John O'Brien, 74, dealer.. The men are alleged to have
secured keys and to have eluded
a guard at the aerodrome, break- Sir William Llewellyn. Presi- ing info the bullion room and saya the wheeling the gold, stored for ship dent of the Academy, pictures were rejected
ander ament by ane, to a waiting rule of which Mr. Stencer must be kutomobile in which they made aware because it is often exercised. their escape. This happened on -Reuter Special.
border town, into the hands of the War Against
China Eggs
SERIOUS CHARGES
*
March 19, it is
taxi
is
The local rise of the dollar fel- lows an advance of 2.1/16d. In silver prices in London, making the spot quotation 34.7/8d, which is the highest point touched since
· October, 1924.
The sharp London advance was due to ronowed speculative buy- ing. The market closed uncertain..
SHANGHAI MARKET
Shanghai, April 26. Rates are nominal on the For- eign Exchange Market at D.30 a.m. to-day
U. S. dollars are 40 3/8, 6terling 1/8 1/16 and Gold Bars $775.50.
The Foreign Exchange WAN strong at the opening but turned uncertain on the report that the U.S. Treasury would not increase the silver price to-day.
After this the market Armed again sharply duo to Chinese Banks selling. U. S. dollars were 40 3/4. Sterling 1/8 1/4, and Gold Bars $77430-United Areas.
VOICES HEARD AROUND WORLD
NEW YORK TALKS TO ITSELF
Now York, April 26. A telephone conversation for the first time in history encircled the globe to-day.
The President of the American
Telephone Company, seated with the morning of alleged.
others in one oflice In New York, rang the Vice-President in another The chief witness driver, who drove four men from office in the same eity and the call was transmitted over trans-Atlan- North London to point near the Croydon aerodrome early in the tie telephone lines to London, morning of March 19.
thence by cable to Amsterdam, This witness now declares that by radio to Java and San Fran- he does not remember whether he cisco and an back to New York.
The calt told police that he recognised
and conversation O'Brien
travelled a total distance of 23,000 as one of the four men
and instantaneous-enter.
Rede, has caused
some anxiety among the local, populace, as the ADDRESSES NATION
Communists, who are hemmed in on all sides, are apparently taking Washington, April 25.
advantage of a emparatively weak President Franklin D. Roosevelt point and making a concentrated will deliver an address to the drive into the heart of Yunan.
who drove in his car that morning. miles and reception was perfect nation, by radio, on Sunday.
Principally he will discuss the ever, are trying to calm the people The Yuman authorities, how-
As the taxi driver's evidence PENDING
| against O'Brien was the only thing work relief programme but it is with the assurance that the Gov- hoped he will open the door und ernment
police could put their hands on, London, Apr. 25. shed light upon other national with the Red menace, na there are is in, a position to deat
the prosecution decided that it Sensational revelations regard.) was not safe to ask a jury to con- problems-Reiter Special.
viet him. The jury consequently j about 400,000 troops forming &ing the importation to Britain of strong defence lie in the enstern 700,000,000 liquid Chinese eggs found him not guilty and he avas .section of the province,
"produced under loathsome condi- discharged.
The trint of the other two menj General Lung Yun. Military tons." will be made at a meeting
U.S. Minister Governor of Yunnan, is at present of the National Poultry Council is continuing. Reuter Special.
Denounced
COTTON INDUSTRY
UP IN ARMS
(Spacial to "Telegraph:"}
the
at Loliang to direct the operations. next Tuesday at Southport, says
Heavy fighting is developing around Loping-Central Newa.
CHICAGO WHEAT
DECLINE
ROSENBAUM UNLOADS BIG HOLDINGS
Chicago, April 26,
special correspondent of the Daily Herald.
Ile states that Chinese eggs will be the subject if a special report based upon an impartiul investiga- tion carried att by leading analysts, "the results of which are | appalling."
One sample was found to contain 1,500,000 living microbes per cuble. centimetre.
The correspondent adds that the Scintific Poultry Breeders' Associa tion will move a resolution at Southport declaring that the con-
་་་་
MISSION MEETS · BANKERS
PROBING SILVER PRICE PROBLEM
FRENCH WAR VETERANS
LAY WREATHS IN LONDON
London, Apr. 26. Severn hundred French OX- Service men, members of the Union Federale des Anciens Com- battants, who were welcomed and entertained by the British' Legion during a short visit to London, this morning marched to the Cenotaph in Whitehall and laid wreath there....
The deputation afterwards laid. Shanghai, April 20.4 wreath on the grave of the Un- The members of the American known Warrior in Westminster Economic Mistion are haldig In-Abbey-British Wireless. Kung, Chinese. Finance Minister, terviews separately with Dr. II. II.), Mr. T. V. Soony, Chairman of the Board of Directors of the Bank of Chinil, and a number of other Chinese bankers this morning,
During the interviews they will exchange views on the present: the continuous rise in silver's financial dislocation created, by
DAUGHTER TO FRENCHAMS
Augusta, Ga., April-25. Bitter denunciation of the cotton processing tax, coupled with the (Special to "Telegraph"},
demand for the resignation of Mr. It is unofficially reported that tinued importation of Chinese eggs At this conference it was agreed |
Washington, April 25. Honry C. Wallace, Secretary of holdings of the Rosenbaum Grain is a menace to the public health. that China's silver situation could to-day approved the Harrison opening of the American Cotton million bushels,
The Sonate Finance Committee Agriculture, were heard at the Corporation, amounting to four Renter be onsily settled if the Chinese Bonus Bill, liberalised to provide Manufacturers Association con- liquidated within half an hour of Government would co-operate with cash Instead of bonds, aftor thevention to-day.
were to-day the Chinese and foreign banks first cash payment proposals had
The President of the Associa-opening, causing only a slight
the Chicago. Board of Trade re- more fully.
However, it was agreed by all
been overwhelmingly rejected. tion, Mr. William D. Anderson, cession in wheat pricon. concerned in the monetary situa-sidored likely that it will be passed mont and the ordinary knowledge short,aldo commitments which housing the Asiatic Petroleum Co. At noon to-day they will vialt believed to have been murdered, tion to co-operate would be bound in spite of their objection-Reuter of business, as well as in common necessitated
(Continued on Page 7)
baylag. United (South China), Ltd., will be known the Shanghal City Chamber of gave birth to a daughter in Hany "Reuter Spaciali
as Shell House."
chung, Bhonsi, to-day--Reuter,
rc-
"SHELL HOUSE"
the experts that the failure of all tives oppose the Bill, but it is con- plainly incking in business judg-of the Rosenbaumholdings word now designated Asiatic Building, prico.
American Legion representa- charged that Mr. Wallace was Further it is reported that some As from May 1, the premises
Special
Commerce.—Central News,
husband, was a captive of Reds
Shanghal, April 26. Mrs. Francham, who, with her
for some weeks and until
recently