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六拜歳 號五廿月五英语
SATURDAY,
MAY
25,
1985.
日三十月四
SINGLE DOFT 16 DIDNTS
$1500 PER ANNUM
LEAGUE VICTORY IN DIPLOMACY
ITALY AGREES TO COMPROMISE
AGREEMENT BASED ON BRITISH PLAN
(By Telegraph. Copyright, Telegraphic Messagee Ordinance, 1894. Received, May 25. 9.30 a.m.)
Geneva, May 24.
Italy, following the critical session of the League of Nations Couricil yesterday and her earlier refusal to listen to any plan for a compromise, has now accepted the Council's proposal for the settlement of the dispute with Abyssinia. Thus the immediate danger of a war between these two nations is removed, Reuter reports.
The Council, in a secret session, reached complete agreement on the text of the resolution which was ex- pected to pave the way to compromise, at 12.25 a.m. to-day.
Baron Aloisi, Italy's chief delegate to the Council, indicated that Italy would refuse to cease her military preparations in Eritrea and Italian Somaliland, how- ever. This may yet prove a stumbling block to the negotiations, the United Press points out.
Geneva, May 24.
There, are three points in the proposed solution dealing with the Italo-Abyssinian deadlock to all of which Signor Mussolini, Italian Prime Minister, objects.
First, there is the reference to Article V of the Italo-Abyssinian treaty of 1928, which provides for arbitration and particularly "that there be no recourse to force.” Second, there is the fixing of a -time limit for the conciliation procedure, and third, the fixing of another meeting of the Council if theconciliation procédure does not succeed, within the given i time.
The Italian Government has submitted counter-proposals which entirely In-
are
considered
AIR FORCE RECRUITS POUR IN
SPLENDID_RESPONSE TO APPEAL
BRITAIN'S NEW FLYING ARMY
Six tiny tugs strain with all their diminutive strength at the sides of the giant liner Aquitania, as she lies on a mud bank, ten miles out of Southampton. In this picturs the Aquitania la shown dowly
alipping off the bank that had kept her prisoner for 25 hours.
Flandin
Dictator
Candidate
FIGHT TO DEFEND FRENCH FRANC
RADICAL SUPPORT
(Special to "Telegraph")
(Dy Telegraph, Copyright, Telegraphie Meacoper
CONDEMNS Empire
BIRTH Air Day CONTROL Observance
IS WORLD TURNING TO PACANISM ?.
POPE PIUS'. REBUKE
PUBLIC TO INSPECT R.A.F. STATIONS
MESSAGE FROM PRINCE
(Special to "Telegraph”)
Telegraph, Copyright. Telegraphio to-morrow
Ordinance. 117. Recriod, May Memes Ordinance, 11. Record. May
} 25, & a,m}
Paris, May 24.
Vatican City, May 24.
London, May 24.
Force Forty-live Royal Air stations will be open to visitors to enable them to inspect the normal work of the Bome cases, to units and, in witness rehearsals of items under (3pecial to "Tatograph”)
A very close, and strenuous His Holiness the Pope- roundly preparation for the Hendon display.
birth condemned
and next month. Fifty-three civil aero- gre Urdinance. 111. Repeived, (B Telegraph.
struggle is expected in the Cham-sterilisation when receiving repre- dromes will also be open to inspec- Copyright. Telegraphie
Stay ber of Deputies on Tuesday
sentatives of the Hospital Con-|tion. three 25. ma
next when the Prime Minister, London, May 24.
adéquate. ------IL ̄is authoritatively stated that" the British Government will not be satisfied with anything less acceptance of the than points already laid down, which
salution of the Reuter,
AGREEMENT
►
control
ARGAINS
"FOR
NEXT WEEK
SEE PAGE 11
IN THIS ISSUE
SALE POSITIVELY ENDS
SATURDAY, Juna. 1st.
WHITEAWAY LAIDLAW &
CO., LTD.
BLAMES U.S. FOR WIDE DISTRESS
SHANGHAI BANKER'S
CRITICISM
SILVER PURCHASES A MISTAKEN POLICY
(SPECIAL TO “TELEGRAPH"}
Shanghai, May 25,
In an interview with the United Press to-day, Mr. Frank J. Raven, President of the American-Oriental Banking Corporation and its affiliated companies, which is the largest group of local American interests, attributed the difficulties of all the companies to the United States silver purchasing policy draining silver from China.
Mr. Raven said; "There is no silver to carry on,' Securities are so unsettled that is impossible to raise cash on them and credits have been curtailed drastically."
He explained that all the companies were solvent and were operating successfully.
SILVER'S DOUBTFUL FUTURE
U.S. POLICY STILL: A MYSTERY
IMPORTS ARE LAGGING
.
while imports from Mexico are will similar celebrations
"But," he added, "the United States silver purchasing policy will probably continue, and be- cause of this it seems that the downward trend of business will 'continue also.”—United Prena,
The American-Oriental Bank- Ing Coporation, and its affilated companies, yesterday suspended operations and made an applica- tion to the American Court In Shanghal for the appointment of trustees, under the new Banruptcy lawa.
Not only did the Shanghai offens of the firm close their doors, but the Hongkong office...also, was Instructed to refrain from making any further commitments and
SHANGHAI MARKET
New York, May 24. In view of the total lack of taking any new business. evidence that the Treasury Intely has been buying silver abroad,
"Shanghat, May 25. silver circles here consider that the increase in this week's silver The Foreign Exchange Market Imports is probably the result of is very dull at 10.00 a.m.
forward engagements, M. Flandin, will demand dictatoriai grean which is meeting in Rome, The occasion is Empire Air Day,previous
U.S. dollar rates are higher are regarded na the minimum re The great recruiting drive for powers to defend the franc. M. being attended by delegates from and in many parts of the Empire
take possibly connected with the re-than sterling rates due to the rise quirements for satisfactory the Royal Air Force is now in fullFlandin, it is believed, has the full thirty nations,
difficulties.swing, although the Air Ministry's support of the Cabinet, but there
The Pope said he regretted that place to foster public interest in ported silver coinage contract within the New York-London cross-rate appeal for support was only issued will be serious opposition. In the the subject figured on the Con-aviation and exhibit advances the Mexican Government. yesterday. The recruiting centres Chamber.
gress agenda, and still more so made in aviation science.. Genova, May 24, are open in London and volunteers
The Air League of the British Completo agreement has now are rushing the recruiting officers. Prime Minister, who has reached a following Germany's example re-Prince of Wales a letter expressing
The Radicals will support the when the delegation stated that
every country would soon be Empire has received from the heen reached on every point of Besides the aspirants for pilot's complete agreement with the un the Italo-Abyssinian conciliation licences, the first class recruits for disputed leader of that section of
garding sterilisation.
his confidence that the success of resolution before the
Ils Holiness said he hoped that the first Empire Air Day last year, League the technical departments of the the Chamber, M. Herrlot.
would never happen, for, if it did, when, in the British Isles alone, Council.
| R.A.F. are being sent to the Weal
In the meantime the papers of it would mean that the world 137,000 people visited the Italy has accepted the com-Drayton recruiting depot within the Right úre conducting would return to the horrors of dromes, will be outdone. This is promise, based on the slightly an hour or two of their application. vigorous campaign against the ancient paganism which had the highly probable, as it is being held
British proposals, put modified
The stringency of the tests in granting of powers demanded by pursuit of beauty in its arta, but this year on a Saturday instead of forward by Mr. Anthony Eden, no way impeded the rush of Lord Privy Seal, and Britain's volunteers, though It is known by the Government. They consider in its social life was entirely in mid-week.
all applicants that they must face Government is responsible for
on the part of the immoral.--Reuter Special. delegate to the Council.
Italy has accepted as a basis of the most minute and exacting the result of the Municipal elec conciliation Article V of the physical examination of any sertions, which were a distinct swing Italo-Abyssinian Treaty of 1928 vice in the world.
towards Communism, which emphasises that there will Oficials have already express-
Confidence 18 oxpressed
time.
19
LOCAL DOLLAR UNCHANGED
At
this demand
in
apprehension. Le Matin, well-
be no recourse to war between the ed astonishment at the ready official quarters that France nations in any dispute concerning response to the appeal and furthor fully capable of maintaining the their frontiers.
recruiting depots are being open-franc at its present level. The A time limit is also fixed for ed in the provinces.
provision conciliation, and
The Government, with a fight increased to three per cent. in an French bank rate was yesterday made for the summoning of a ing Air Force of 1,500 planes effort to put a stop to the heavy further meeting of the League visualised for 1937, is hastening drain Council if conciliation Talls with the training of a new Air Army of but that is not believed to be upon French gold stocks, in a given time. The Council young pilots and a ground force
sufficient of a remedy. will meet in August to attempt to which will be second to none. settle the problem if Italy and the present time the I.A.F. 13 Jook However, there is no exound-for- Abyssinia fall to agree before thating for 2,500 new flying officers--nformed Paris newspaper, points
Reuter Special. The meeting of the Council, which commencod at 1.30 o'clock this afternoon, only succeeded in drafting the resolution at a few minutes after mid-night-Reuter. MUSSOLINI'S WARNING
Rome, May. 24.::* "No-body, In Italy or abroad, must mistakenly think we shall not bo circumspect before taking our
The Hongkong dollar, was. decision, but once that is taken we will march direct.". This Bint to changed on opening this morning, the League Council's parleys upon the official rate being 28, 5d. The the Italo-Abyssinian crisis was market opened steady, then eased thrown out by Signor Benito off somewhat, but later steadied up Mussolini when addressing ex-again, the rate bolng 23. 5.3/8d. service-men on the occasion of sellers and 28. 58. buyers,
twentieth anniversary,
In London, silver pricce de Italy's entry into the Great War.clined 1/16th yesterday. China
Hlas
Majesty King - Victor sold, while India and speculators Emmanuel and the Crown Prince bought on a steady market. were presente alarms
the
of
MARKET TONE STEADY
'un-
BRITISH OPEN GOLF RESULTS
LITTLE TO MEET TWEDDELL
جدا
tho
acro-
The Prince adds:-"It is impos- {sible to exaggerate the Importance for the country of the development of air-mindedness, not only among enthusiasts, but among the whole population." British Wireless.
Royal Wedding At Stockholm
-PRINCESS INGRID'S
NUPTIALS
which is attributed to the weak- uess of the franc, otherwise there Meanwhile, the silver markets would be no effect locally..
official move may be. Whatever American-Oriental Banking Cor continue to be left to their own conjectures as to what the next) The ultimate disposition of the the cause, it is apparent that the poration's exchange contracts Is Treasury during the past month at present an important factor in and a half has left the foreign local exchange circles. silver markets severely alone, as
for as outright purchases are con-
cerned.
ap-
41
This is due to inability ... óf other
banks to obtafa delivery which may force them either to NEW ELEMENT
cover immediately or to leave the positions open pending the During the past week a new
pointment of liquidators.· element was injected by Mr. Cordell · Hull and Mr. Henry Rates were U.S. dollars, Morgonthau, who openly advocated 16/10, Sterling, 1/8 3/8, Gold Bars, currency stabilisation as a pre-$766.80, at 10 am.-United Preas. requisite to a trade revival. This stand is regarded as hardly con- sistent with the silver programme, which not only upsets the Orient, but continues to throw doubt upon the future stability of the dollar.
At the same time, while Secre- tary Morgenthau has declared that the Government la endeavouring to i
Relief Funds For Illinois
MADE POSSIBLE
́Springfield, III., May 24.
(Special to "Telegraph”)
rostore silver to greater useful-FEDERAL GRANT NOW ness as a monetary metal, the out that the metallic cover for the
London, May 24,
Treasury is not matching the semi- Tho' quarter-finals and notes issued at present is still
recent heavy gold imports with almost 100 per cent, and that if finals of the British Amateur Golf
(Special to "Telegraph">
silver on the basis of 3 to 1, lot France
alone progressing towards this were suddenly, if in Championship at St. Annes were
The Federal Relief Administra- credibly, called upon to
By Telegraph,” Copyright. meet played off to-day, Lawson Little
Mosges Ordinance, 1881. Roosivad. May gold stocke.
Telegraphie basis in respect of the existing tor, Mr. Harry Hopkins, after a simultaneously all her obligations and W. Tweddell entering
thees, & m),
conference with Illinois' Governor, at home and abroad, she could pay final. The following were
Stockholm, May 24:
Mr. Horner, announced to-day that The widening divergence is $5,000,000 of federal funds would up to 80 por cont. of requirements results:
The festivities in connection readily apparent if it is considered be released immediately to Illinois in gold bullion. Few other nations W. Lawson Little (holder) de-with the wedding of Crown Prince that gold importa between April 1 to help to end the crisis which are so soundly established on a fosted G. L. Q. Henriques 6.and 4. Frederik of Denmark and Princess and May 10 totalled $150,000,000, followed on the closing of relief
Foundation. Rester Will Tweddoll: defeated Eric Ingrid of Sweden ended this whilst allver Imports were only depets. goldstock. Special
Fiddlan ono up..
evening, whon the bride and bride $13,000,000. Thus, silver to the Tony Torrance defeated groom, after a triumphal tour of value of $53,000,000 would be Morton Dykes on the 19th green, the city, in which they were necessary to match the gold im-tened to attack the State Legisla Robert Sweeny defented Alex escorted by two squadrons of ports, on the basis of 8 to 1, for ture unless the State voted funds
cavalry through streets thickly that period alono-Reuter. Walker one up.
FINANCIAL WEAKNESS
London, May 24. Further weakness of the franc In terms of sterling to-day re-
SEMI-FINALS voals that despite yesterday's in Lawson Little defeated Swoony crease in the French bank rate 3 and 2 the dominating factor continues Twaddell defenten. Torrance 2 to be apprehension regarding the and 1-United Preba,-1, ponding financial struggles with their possible political repercus-
Many quarters
lined with cheering, crowds, em- barked on the 1,700-ton yacht Dannebrog for Copenhagen.
As the yacht moved out, sero-
TREASURY BILLS
Hunger-marchers recently threa
for the re-opening of the relief depots, since 1,000,000 persons were facing starvation... N
The State cut relief payments planes ciroled overhead and war- The total amount applied for inmediately suspended several weeks London, May 24. and the federal payments were im. ahip's saluted.
There will be further festivities tenders for £40,000,000 Treasury ago. The crisis was a result of Our gospel is: Better five daye League a proposal for severe clone
acute
af Copenhagen, probably lasting hills was £57,886,000——The thie action, The Legislature, hás as a lion than thirty days as a
penalties against any - nation
quarters here are of It is noteworthy, that yesterday, for three days after which the maximum amount, was allotted in now pussed roller measures and declared 11 Duce-Router breaking any treaty, including an opinion that M. Flandia's policy afternoon's rally of the frane royal, couple will proceed, "to" "a bills at three months: The average voted funds for the maintenance
embargo on arms and enw and has been a dismal, fallure, and, it was due more to the intervention secret destination for their honey-rate por cont, was 19/5.90d, as of the relief depote, ** making... Geneva-May-24. manufactured materials United I only a question of time before of British control thin the calsing moon/, remaining until the middle compared with 10/2.95d a week possible the continuation........ of
becomes extremely of the French bank fate, alteuter. of June--Router Special.:
ago--British Wireless,"
Föderal grants. Reuter,
NEW PENALTIES
trance: baa
submitted to the Pròss.
the
crisis