Exceptional SALE Bathroom Fittings
tagning Poss, lica,
FIRST EDITION
ter:-23.36.
The
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China Building.
Tel, 20269.
Hongkong Telegraph.
FOUNDED 1881
No. 14000
三拜禮 號二十月六英港香 WEDNESDAY, JUNE 12, 1935.
日二十月五
SINGLE COPT 10 CENTE
SILVER'S SLUMP EXPLAINED
MORGENTHAU RAPS MANIPULATORS
WON'T TELL SECRET OF STABILISATION FUND
Washington, June 11.
Mr. Henry Morgenthau, Secretary of the Treasury. in a letter to Senator Patrick McCarran of Nevada, Senate leader of the Silver Bloc, has explained that the Treasury acquired 4,214,970,000 ounces of silver in the ten months ending May 31, or 265,000,000 ounces more than the entire world production for that period.
Mr. Morgenthau says the figures are surely sufficient answer to the rumours that the United States has abandoned its silver purchase programme.
Replying to the question as to what was the cause of the recent decline in silver prices, and whether the Treasury had sold any silver, Mr. Morgenthau declared:
“I did not belleve that the: sudden abnormal rise of silver to 81 cents in the later part of April was a result of normal operations of legitimate market forces. I rather think it is to be attributed to manipulation of special interests.
"The disappearance of this un- healthy condition and Influence has been n wholesome develop ment," he added.
STATBILISATION FUND Mr. Morgenthau's letter did not¦ disclose what, if any, part of the Stabilisation Fund, had been ased for making silver. purchasCH.
GERMANS DEPRIVED
OF RIGHTS
FAMOUS FOLK LOSE
CITIZENSHIP
ALL PROPERTY CONFISCATED
"I believe you will agree with me upon reflection that since the purpose of the operations of the Stabilisation Fund is a matter of: American policy and primarily has; to do with international exchange relations rather than domestic monetary matters, discussion of 72 941 am) "the "Fund's operation would not be
In the public interest;
was
That
(Special to "Telegraph"}
CON Telegraph, Copyright. Telegraphie Mezarura Ordiner, 1401. Received, June
Berlin, June 11.
Exchange
Agreement
Suspected
FRANCE SUSPENDS GOLD ADVANCES
CO-OPERATION WITH LONDON
Paris, June 11.
With a view to curbing specula- tion, which is already declining, the Bank of France to-day decided to suspend advances on gold bullion.
The decision was renched after a conference of the Minister of Finance, M. Regnier, und the Governor of the Bank of France, M. Tannery. The suspension is considered closely connected with the Bank of England's action last week in requesting London banks. and bullion dealers to refrain from forward dealing in gold for specula. tive accounts.
The practice of buying gold for- ward is regarded as detrimental tuf- the technical defence of exchange.
It is believed in some quarters that an agreement has been reached between Paris and London, and ponsibly New York, to eradicate į private gold speculation and the measures taken may be destined to
for prepare the way
n general understanding on exchange rates. prior to de facto stabilisation,
It is thought that it is this iden of alignment of currencies which is causing the London gold price to be chalked up to eight pounds ster- ling per ounce.-Reuter,
Ransom Money Recovered
WALEY'S CACHE IN UTAH CANYON
BLACKSMITH
·HUNTED
Washington, June 11.
-
H.E. Admiral Sir Frederic Dreyer, Commander-in-Chief of the China Station, who ill at Weikniwo, suffering from the after-effects of dysentery.
FEAR OF
Roosevelt
Victorious
$36.00 PER ANNUM
DUNLOP
FORT.
ANDUNLOP
Tort TYRES
are made for thoes who prefer
SUPERLATIVE QUALITY
H.K. SHOULD BE
In Senate OPEN AIRPORT
HOLDING COMPANY WIDE SUPPORT FOR
BILL PASSES
VERY CLOSE
VOTE
Washington, June 11.
By a margin of one vole, the Senate rejected the amendment to transform the Holding Company Bill into a simple regulatory mea- sure. Later the Senate passed the Holding Company Bill-Reuter.
The United Press adds: "The Senate to-day passed the Wheeler- Rayburn B by a vole of fifty- Elx to thirty-two. They had pre- viously refused by a vote of forty- four to forty-five to ameliorate the section of the Bill forcing the dissolution of the majority of utility holding companies within Ave years."
ANOTHER CLOSE VOTE
Washington, June 11. The Senate, by another closo vote, rejected an amendment to deny the Security Exchange Com- mission power to initiate dissolu- |tion proceedings against holding
WAR STILL companies, but an amendment by
REMAINS
FATEFUL HOURS
AHEAD
JAPANESE ON GREAT WALL
(Spacial to "Telegraph”)
Telegraph. Copyrigke Telegraphie Messages Ordinaner, 1694. Beceived, JunE J2, .m.)
Tientsin, June 12. The fear of war remains here. It undulatés, coming as a chill or fover. It is believed the next forty-eight hours will settle the fate of this part of China.
Sonitor Borah to prevent more than one holding company being imposed upon an operating com- pany was accepted.
Among other amendents ac- cepted was one permitting regional holding companies to possess.or .control 4 few non-competing utilities, such na water systems.
Senator Wheeler, the Holling BP's chief protagonist. denied assertions that the measure was unconstitutionùi, being backed there by Senator Borub, who expressed the opinion that control of holding companies could be ap- plied through inter-State commerco. Prior to the final vole, the Bill bitterly assailed, by its op- ponents, among whom Senator Dieterich said, "The Bill, instead of being a regulatory measure, is an effort for the public control of all utilitica."
W08
In view of the
NEW CONTACTS
COLONY SEEN AS BIG AERIAL JUNCTION
Strong support is forthcoming for the Telegraph's plea that Hongkong should freely grant facilities for aviation services of all nationalities to utilise this Colony as a port of call, and, in particular, that landing rights be made available to planes of the China National Aviation Corporation.
Mr. Felix A. Joseph, who was a member of the Hongkong Economic Commission-which urged that, having secured reasonable British participation, Hong- kong must maintain an open port and welcome the aviation interests and air lines of all countries—con- siders that a start should be made by welcoming Chinese air lines, which would make this Colony a Clapham junction for air transport in South China.
Other correspondents comment on the question, one remarking that Hongkong has an opportunity of becoming the southern terminus of China's airways system, to the mutual advantage of China and this Colony. Letters already received on the subject are. given below.
JOINING STEEL CARTEL
BRITAIN ACCEPTS
AGREEMENT
DIVISION OF MARKETS
J
Sir, I read with very match, in- terent your leading article on the future of Hongkong us a great Air-Port, and I feel that you have performed useful and timely ser- vice in focussing attention more on this subject.
once
It seems to me as a first step. that we should welcome freely all Chinese Air Transport Lines which may wish to use Hongkong as an Air-Port'an, by doing so, we should be helping China to link up with the other great Air Transport systems which are desirous
o! coming to China.
Such a polley would make of Hongkong a Clapham Junction-for-- Air Transport in South China.
be
VICTORY FOR ROOSEVELT If the demands already present-
All attempts to modify the Bill ed to the Chinese Government were met by... the reading... of really represent all
Roosevelt's Japan's President
message thut "any amendment "This has been the fixed policy
If in due time the forging of a A list of thirty-eight Germans Of the $200,000 ransom paid for present objectives, the crisis of the stating
London, June 11.
link with Imperial Airways should of the Treasury since the Fund who have been deprived of Ger- the release of little George Weyer past few days is completely dis- which goes to the heart of the
established.
The British Iron and Steel bring up the question of n subsidy, it is man nationality is contained in n heuser,
Bolved by China's unquestioning Bill's major objective would be son of the millionaire acceptance.
But there is some wholly contrary to the recom- Federation, in a statement regard. I can see generally appreciated is evidenced decree issued by the Minister of Tacoma timber operator, $116,000 doubt if the true object of the mendations of my Holding Coming
no reason why such the conference with by the fact that no inquiry con-Interior to-night
the financial assistance from this bas already been recovered, it was Japancae ultimatum has as yet any message. cerning the Fund's operations has
International Steel Cartel held in Cotony could not even then The names include those of Dr. announced, bere 'to-day.
been revealed.-United Press. come to the Treasury from any Hlferding, Minister of Finance
virtually con Luxemburg on June 4, says the extended. All the money pald to the kid-
tinuous concerted attacks against British delegation consisted of ten member of Congress or other in the Stressman Cabinet; Herr nappers' agents was marked.
FELIX A. JOSEPII. JAPAN'S PLANS
the Bill by utility interests, the members, representing various Government official. Only those Viktor Schiff, former chief editor The money so far recovered in-
Senate vote is considered a great sectional primarily interested in speculation of Vorwaerts; also the well-known cludes $90,000 found buried in
interests, led by the victory for the Administration President, Lord Dudley, and the in silver would seriously question Socialist or Confmunist writers Canyon near Salt Lake City early It is understood that the Japan and most disappointing to those Chairman of the Executive Com- the wisdom of this policy," the ferr Bert Brecht, Dr. Kurt Hiller, to-day as a result of a confession ese military conference here as who, in view of the recent N.R.Amittee, Sir Andrew Duncan, who erai support for the Telegraph's Secretary of the Treasury asserted. Baron von Zedlitone Ukirch, and by Herman Waley, notorious gang- decided temporarily to maintain decision, hoped for a more liberal acted as Chairman of British dele- plen that Britain's aviation policy
Fraulein Erika Mann, daughter of ster.
the Kwantung Army concentra- and more cautious attitude by tho the novelist, Thomas Mann.
It is believed that the second oftions along the Great Wall.
Senate.-Reuter Also included in the list is Herr the kidnappers' leaders, Mahan the It has confirmed the decision to Karl Hoeltermann, founder and Blacksmith, probably has the return the relieved troops of the lender of the former Reichsbanner balance of the ransom money, orTientsin garrison to Jupan on June organisation.
else has hidden it. for by now he 18; however. The replacements must know that to be found with it having already arrived, this de- in his possession, would mean cer-parture of troops need not he tain conviction. As it is he is delayed. Officials declined to dis.
HUGE PURCHASES
The property in Germany of the persons named in the list is to be confiscated.
JL
Tientsin, June 12.
Mr. Morgenthau stated that the Treasury had acquired during the ten monthe ending May 31, totaln of 283,000,000 ounces of silver by direct purchase delivery of which had already been made, 25,647,000 ounces of newly mined silver and 112,850,000 ounces under tho The reason given for the Gov-seriously implicated in the crime close the strength of the nationalisation order.
ernment action is that those whose by the confession of Waley and Japanese garrison forces.-Reuter, At a mecing of the Senate Silver names appear on the list have, by Waley's wife, Margaret.-Renter. Bloc to-day a resolution was pass-disloyalty to the State and people, ed appointing a Committee of Five, prejudiced the interests of Ger- headed by Senator McCarran, to many-Renter Special
call on Mr. Morgenthau reasonably promptly and ascertain from him the intentions of the Treasury, and details of its policy, for carrying out the spirit of the Silver Pur- chase Act-Reuter,
ADMIRAL'S ILLNESS
BRITISH MINISTER CHANGES PLANS
Peiping, June 12.
ROYALISTS' HOPES
POSITION IN GREECE EXPLAINED
(Special to "Talagraph")
CHARGES PREPARED
Washington, June 11.
TROOPS WITHDRAW,
new
Peiping, June 11. Mr. Edgar Hoover, in charge of Following a verbal reply deliver. the special police dealing with the ed to the Japanese military cradication of the gangster authorities last night by General menace, has announced that the Ho Ying-ching, Chairman of the
Military suspecta in the Weyerhaeuser | Pelping
Council, In kidnapping cuse will be charged respect of the demands presented
smith.-Reuter,
LOCAL DOLLAR
UNCHANGED
MARKET CONTINUES
1
STEADY
Divorce For Pearl Buck
WRITER TO WED PUBLISHER
HUSBAND OF CLOSE FRIEND Reno, June 11. The famous novelist, Mrs. Pearl
MORE SUPPORT
Sir, There will surely be gen-
gation at the conference.
in the Far East should be based The headings of an agreement un the realities of the situation were settled upon for co-operation and so designed as to make Hong- of the British industry with the kung the leading airport in this International Steel Cartel at the part of the world,
expiry of the present temporary i A dog-in-the-manger attitude, agreement on August 8 next. By by which entry of Chinese planes the terms of this agreement, which is prohibited unless some quid pro is for five years with a break atque is offered by Chinn, appears three years at the instance of quite indefensible. It should be either party on giving six months' the aim of the Imperial Govern- previous notice, imports into the ment and the Hongkong Govern- British market from Cartel coun-mont to attract regular, recognised tres of all Iron and steel products civil aviation services of any and coming within the purview of the every country to this Colony, In federation, shall
exceed this way, na you say in your lend- 670,000 tons during the first twelve ing article, we can make Hong- months.
kong the big port aerially that she
total
not
MARKETS RETAINED
terminus of
the
In each subsequent year during is from the shipping standpoint.
In the past, both the Home the life of the agreement, importa under the Lindbergh Kidnapping by Japan, the Central Government Buck, fled suit for divorce from her shall not exceed 625,000 tons per Government and the Hongkong Act. The suspects are Herman Gendarmes stationed in Peiping
| Government have realised the Waley and his wife Margaret, commonced withdrawal since this husband, Professor John Buck, fo- annum.
desirability of linking up the and William Mahon, the Black-afternoon for the South, while day. She charges extreme cruelty.
Canton-Hankow Railway with the an Professor Buck has filed orders have also been received bynswer which is a general denial British industry that proportion of effect, making this Colony
The agreement also eccures for Kowloon-Canton Railway, thus, in the Provincial Kuomintang Party Headquarters of Hopei Province of her charges.
export trade in neutral southern terminus of China's rail- Property rights and the custody markets which it enjoyed in 1984 way system. Now we have an op- and the branch Kuomintang head- of their two children will be settled Existing international agreements portunity of making Hongkong the quarters at Peiping and Tientsin
in which the British industry le southern (lip Telegraph. Copyright, Telegraphis
to wind up their affairs immediate-by agreement.
Cliina's Menara Ordinner, 1894. Becelerd, June
Shortly before Mrs. Buck filed participating covering rails, tinaerial system. Surely, Sig, the Jy. 12. 6.2 0.12)
The first batch of the 3rd her suit, another suit was led by plates, and so on, form an integral same arguments apply in the one
Mira. Richard Walsh, Athens, June 11. Sir Alexander Cadogan, British]
seeking part of the general agreement. Regiment of the Central Govern-alvarce from the well-known New
case as to the other. And the The situation with regard to the Ambassador to China, will not be'
To give effect to the general advantages both to ourselves and ment Gendarmes, numbering 800 York publisher on the ground of agreement, a number of aubsidiary China would be mutual. travelling through the Yangtse restoration of the monarchy, as
men, left here this afternoon "extreme cruelty." Mr. Walsh, who agreements will be necessary in- Gorges as he had planned, after pre-affected by the result of the General
aboard two special trains and the has published some of Mrs. Buck's volving negotiations between vari-lost, it may never recur again. It If the present opportunity In senting his credentials to Nanking Election, has been clarified by Gen- The Hongkong dollar was un-remainder will follow to-morrow. writings, has filed a general denial ous sections of the iron and steel is known that Pan-American Air- on Saturday, but will return im erat Kondylis, Minister of War.
changed at 28. dd. this morning.-Central Press.
to his wife's, allegations, p mediately to Peiping.
General Kondylis states that n
The market was dull, but the tone
industry and corresponding accways have been looking around for LATER DEPARTURES
Mrs. Buck and Mrs. Walsh aro tions or countries in the cartel. another centre, not far from Hong- It is understood his change of plebiscito will be hold-to-afford the emains steady. Inter-bank rates
living together just outside Beno-These negotiations are proceeding kong, to replace Canton as the plan is due to the Illness of Admiral people an opportunity of register were about 28, 4.0/16d. sellers and Sir Frederic
Mrs. Buck's name has been coupled and will be pursued unremittingly terminus of its trans-Pacific ser- Peiping, June 12. Droyer, the nature ing a definite opinion on the ques-
26. 4.6/8d. buyera.
The Central Government troops with that of Mr. Walsh by romar until completed. of which is being kept a stricttion.
In London, silver prices ad- belonging to the 2nd and 26th the columnists, but she and Mrs.
vice in the ovent of Hongkong The statement adds: "The "im- declining to permit the Americana secret here at the Admiral's re- Politics and the restoration, saldvanced a halfpenny. India bought. Divisions stationed in the Peiping Walsh are the closest friends. quest.-Router.
the General, are quite separate while China operated both ways. area commenced withdrawal from
portance of comprehensive co- to link up with the Chinese service Naval authorities In Hongkong matters since undue importance Offerings were small.
the city last night. Many train
Both Mrs. Walsh and Mrs. Buck operation between such basic in- in this Colony. this morning stated that Admiral should not be attached to the in-
dustries on a worldwide scale can loads left the Peiping-Hankow have obtained their divorces hardly be exaggerated in the effect interests of the Colony to ace that It is now up to the business Drayer is suffering from the after different successes at the pells ob-
Railway Station one after anothar Reuter. effects of dysentery.
it is calculated to have in increna-the chance is not lost. The matter with Hsinhalang, In Northern
MÁRRYING AGAIN
Ing the economic stability in partl-is ocrtainly one of immense im- Honan Province, as thoirm
Reno, June 11. alpating countries and thus con-portance to the future of Hong- mediato destination, whence they A marriage licence has been tributing substantially to restora-kong. I suggest that our Unofficial will move Into Shorsi in order to issued to Mr. Richard Walsh and tion of international trade and Council members get together and,
(Continued on Page 7), Mr. Pearl Buck.-Reuter.
prosperity."-British Wireless,
(Continued on Page 7).
tained by the out-and-out Mon-
Party leader, General
which had! mis
Issue-Reuter Special.
-GRAN CHACO TRUCE
A London message states that, archist according to an Admiralty an-Motazas, nouncement, Admiral Dreyer is takenly made restoration the main and Paraguay will be signed at seriously ill,
Buenos Aires, Juno 11. Tha Armistice between-Bellvia
11 o'clock to-night-Reuter,
Later.