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THE
HONGKONG, TELEGRAPH,
SATURDAY,
JUNE 11,
1938.
STOP PRESS NEWS
EXCHANGE REFORM EFFECTED
Shanghai, June 11, Owing to the very casy and, un- attled conditions prevailing in ex- changes, it is understood concerted nction will be taken by local bankers to attempt to put the market on a more stable basis, by revision of the method of dealing with foreign ex-
BRITISH SHIP PROSECUTED FOR CARRYING ARMS
Gibraliar, June 10.
The civil court here to-day opened
British Ship Again Bombed
Madrid, June 11.
proceedings against Coptain Scott of The British steamer,.Si. Winifred,
the British steamer Staneroft.
He
which was bombed on Monday, when
is charged with having violated Bri-dive were killed, was strucit by R ah non-intervention regulations in bomb at Alicante yesterday evening having transported war material frm in the course of the day's third air Barcelona to Valentin. This material raid.
over
consisted of nine airplane motors, Casualties in the town were one case of grenades, and 17 cases of 100, including eleven dead-Reuter. cartridge cases.
The proceedings showed that when range allotments, which, It Captain Scott took over war material realised, has had a rather unsettling in Barcelona he was notified by the Influence.
Contral Ofleer that he was loading Allotments were previously made contraband. Captain Scott
Centrul Bank and various the warning. The by foreign banks on behalf of applicants expected and it was left to the discretion of the Trans-Ocran. foreign banks to distribute these at
their
jons,
the
will.
Ꮞ .
Distribution was
always made
tנים
the
CONSERVATIVES
HOLD SEAT
London, June 10, The result of the bye-election at After- Stafford was announced this
Ignored proceedings re jast several days.
noon ng follows:
SEVERE QUAKES
RECORDED
New York, June 10,
Mr. G. Thornycroft (Cons) 10,754 12,340 Mr. F. Lloyd (Lab)
(Cons Majorly).. 4,408 There was change, but the Conservative majority was Increased.
ΠΟ
applicants in exact propor- the basis 011 which the Central Bank granted allotments minde this possible. The lump sumn was handed over and an artificial versity recorded "two severe earth-British Wireless. bark
set for those whom the bank quakes" at 2.12 and 2.17 p.m. considered needed foreign exchange epicentre approximately 2.200 mast, providing they could pay the distant, probably to the south-west
The seismograph at Fordham Unit being 3,081 at the last election.-
tale
Bankers have agreed to pay over exchange only to persons whose ap- allentiors are used as a basis of the Central Bank's allotuent and the
such allotinent exact sum
If any Hank in found violating the agreement as understood the Central Bank - intimated no further applications will punted it for any allotmen! what-
י,
ever
1 receber
The basis of the allotment plan is divided inlo four entegories: Essential applications will roughly one hundred per cent, allot- sments;
Non-essential class one applications will receive roughly 50
3. Non-essentiels per cent..
class Ten will receive ten to 25 per cent
Luxuries wil receive no allot-
4 mint
DESPRESSING FACTOR
Another depressing market factor which, it is felt, is in much need of verhauling, is the method whereby a merchan! receives foreign exchange Previously a mereliant contracted foreign exchange without
Lip.
payment until the day for taking it
thereby exp
exposing the bank to loss through fluctuations of exchange
However, bunks help
exchange until after publication of allotments. when mvuriably exchange levels
dropped
نواد
It is now thought this factor will be eliminated by forcing everyone ita eto business on a spot cash basis.
It is inspossible to foretell the reac tion of the market to the new mea- sires, but it was felt that something had to be done to foster and improve sentiment which is at present at the very lowest ebb-Reuter.
Tatted Press
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EMPIRE NEWS
HEALTH INSURANCE
IN AUSTRALIA
Sydney.
Governor, Sir John Hubbacle, to cuncti his cave. This avoids the appointment of Mr. J. R. Doin, Rẹ- venue Commissioner, as Deputy Governor, a course to which the Ministers objecled.
Mr. Biswanath Das, the Prime Minister, was leaving Cuttack for Purl to hand in the resignation of the Cabinet, when he learned of the Governor's decision by telephone,
Speaking in the Assembly Mr. Das said that despite health considera- tions Sir John Hubback had sacrifledd The Commonwealth Government himself to avert a crisis which every- launched the long-awaited body would have deplored. He paid National Insurance Bill, providing warm tributes to Sir John's tactful free medical attendance, disablement
handling of the situation and also payments and old age pensions for to the able services of Mr. Dain, with 1,850,000 direct employees, together whom he sympathised.
has
with wives, children, widows and orphans, affecting total of over 3,500,000 people.
of the Mysore Government Anton of in Mysore-The The benefits are limited to em-regarding the flying of the Congress ployees earning below £306 and are has been clarified by Sir Mirza ona lamail, the Prime Minister, who based
on compulsory contributions of 3s weekly for men and 2s for states that there is no objection what- ever to the flag as the emblem of a women, equally shared between great political party. He objects to ployer and employee. There is no
provision for unemployment benefits. recent attempts to displace the The Socialist party has already Mysore State dag with the Congress, Indiented its opposition to employees flag in the affections of the people. contributing from their
present South Africa wages. The New South Wales women's organisations are demand- Ing equal benefits for men and
Women
ILLUMINATION OF TABLE BAY
Cape Town. The ceremony of lighting Table ing to a question in the House of Bay Harbour to outline the work al- Representatives, that
Bridsh Seaman's Death-Mr Thorby, Minister for Defence, reply-
STANDARD MODEL of British bluejacket in ready begun on the great develop-
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ment scheme, will be broadcast by the cruiser Dorsetshire was entirely all South African stations. matier for the British authorities,
Gen. Hertzog, Prime Minister, who since the incident happened beyond has now recovered from his recent Australian waters, The Dorsetshire cold, is coming to Cape Town pect- leaving Cuirns, Queensland, to- ally to inaugurate the new scheme.
morrow for Singapore,
years.
Tariff Increases Increnses in the He will board the dredger in the new general tariff rates of 17 items were basin, und after the speeches will set
the
dredger in operation. The work tabled to-day in the House of Repre- will continue for more than three
object Bentatives, The
the of to protect Australian changes is
Simultaneously Gen. Hertzog will manufacturers, following the aban donment of the import licensing sys-switch on a brilliant array of illu- tom. Rates on Britich goods are not minations outlining the limits of the
new harbour, affected. Reuter.
Now Archbishop-/The Cape Times saya: "On every personal India
ground the appointment of the Bishop of Glasgow, Dr. Darbyshire, to the Archbishopric of Cape Town, the highest ecclesiastical position in South Africa, will be held acceptable The resignation of the Oriass by the congregations. He is known Ministry has been avoided at the last for the breadth and liberalism of his of the viewa." moment by the deelslon
GOVERNOR CANCELS
- LEAVE
Calcutta.
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