Monday,
HONGKONG TELEGRAPH.
July 31, 1939119219
Learning To Fly At Local Training School
An aeroplane being Inspected by an expert-aircraft engineer prior to the commencement
lassons.
Tho correct clothing to be worn during a flight is important,
The flying helmet must fit
tightly especially over the cars.
VR-HCU
A flying instructor at the School explains the problems of the controls of an acropiano
tudent.
One of the Training School's pupils dons a parachute before commencing a flight:
A striking study of a typically modern young man who is
· "keenly, interested in the world of flying«.
A Flying School Instructor and pupil settle themselves comfortably. the plano
off, on` a flight.
"Another 'view
An instructor and pupil communicato with cach other whilst scated in a plane by means of car telephones and a mouthpiece.
ARMED ROBBERY Chinese Couple Held. Up Near Kowloon Reservoir
Three robbers, two armed with knives, held-up a Chinese couple at Siu Sai Wu on, the hillside near the Kowloon Reservoir about 8 o'clock jon Saturday afternoon.
BANKING RESERVE
Sufficient Backing For Chinese Notes
Chungking, July 29.
It is officially announced that the legal tender notés Issued by the "big The victims were Wong Kin-chi, four Chinese Banks up to the end. 24, school teacher, and Li Ngan, a of June totalled 2,626,020,300 Yuan 21-year-old girl. The robbers relles- ed them of money and jewellery to the value of 328.50.
ing School pupil seated in a plane before taking off on a short flight.
and it is said that this is supported by 1,150,088,074 Yuan in gold, silver and foreign exchange and by another 1,470,840,325 in the form of bonds and notes issued or guaranteed by the-Government, plus asseta' accep- table to the Minister of Finance and acceptable short term commercial
papers,
It said that the ration between cash and security. reserves, was bo- tween 44% and 58%.
The Central Bank topped the st with 2,040,009,145 Yuan worth of bank notes: the Bank of China, second with 703,570,740; the Bank of Communications; third, with 540,- Bank with
450,070 and the 320,019,345,
It is sold that prior to the wor, the cash reserve behind Chinese Currency was 80% while now it is 44%, “which. is sull higher than the currency re- serves of many other countries." It is said that the decrease in the per-. centage of ensh⋅ reserve was due to the increase of the note issue from the pre-war level of 1,400,000,000
Yuan-United Press.
Japanoto Buy Exchángo
Shlukwan, July 80.
It is learned from official circles | that information has been received in „Chungking to the effect that more than $3,000,000 worth of national **** notes have been collected in occupied ardis in "Hupeh by the Japanese. The Chinese currency is said to liave been sent to Hongkong where It is to be converted into foreign currency. Thereby, nota Knall Amount of the foreign 'exchange" of "the" Chinese' his bean 'bouifht by the. Japanese.--Wah Kiu Yat'Po, -