Drink
Coca-Cola
Racing Tips
(By "THE TURF"}
1ST RACE
Good News Strychnine Kwong: Loung
Outsider:-Häppy Return.
Harvard
2ND RACE
National Guard Malmi Beauty
Outsider:-Bronte,
3RD RACE
Lucky Jane
Maniac
Pegasus
Outsider:-Foyle.
4TH RACE
Ballerina
Epinard
Honey Dew
J
Outsider: Speedwheel.
STH RACE
Norse Queen Panda
Black Market
Outsider:-Vagabond King
6TH RACE
Minx
Crown Withesa Thunderbolt
Outsider:-Golden Dragon,
7TH RACE
Possibility
Colonia
Toolsid
Outsider-Ticeta.
8TH RACE
Jeep Hee My Love Homo Bullder
Outsider
Pacific
Pay Day. 9TH RACE
Shahia.
Good Bay
Outsider:--Shôngelis.
10TH RACE
Rebel
Big Shot Lili Marlene
Outsider: D-Day." 11TH RACE
Countess Delight Chief Witness Arablan Moon
Outsider:Some Fun.
12TH RACE
Empress Delight.
First Alarm
Rowanglen
Outsider:-Canadian Potato.
EDITORIAL
For the Proprietor of
HONGKONG TELEGRAPH, For and on behalf of
BOUTH CHINA MORNING POST, L'ITA
The
Dina
At the
P.G.
Hongkong Telegraph G
VOL. IV NO. 131
LYNCHING SUSPECTS
Irwington, Georgia,
5.-Two June
white
men have been arrested and held on suspicion of murder in the lynching last week of Caleb Hill, a negro.
Hill was arrested in a roadhouse by Sheriff George Hatcher and taken to gaol. While
Sheriff Hatcher wont back to the roadhouse to look for his gun, which he had lost during a tussol with hill, the negro was taken from the goal. Later his body was found. He had been beaton and shot. -Reuter.
MacDonald To Be Given!
New Post?
London, June 5.-A aug. gestion that Mr Malcolm MacDonald, Commissioner. General in South-East Asia, will be appointed Minister of State in that aren with Cabinet rank was made to- day by a political writer in the 8,000,000-sale London "News of the World."
MONDAY, JUNE 6, 1919.
Scene
Fading Hopes Hyde Park
Of Big Four Agreement
United States May Request Adjournment Of
Paris
Conference
Paris, June 5.-The Western Powers, led by the United States, may ask to adjourn the Paris meeting of the Council of Foreign Minis- ters unless new propects of agreement appear this week, conference observers said here to day. The Council reassembles tomorrow afternoon for its third session on the Berlin problem.
It starts its third week of meetings with nothing concrete achieved.
Other foreign engagements are looming up for the Western Ministers and observers thought that they would seek to end the pre- sent session unless discussions took a new turn
The British Foreign Minister, Mr Ernest Bevin, and the French Foreign Minister, M. Robert Schuman, are due in Luxembourg on June 25 for n meeting of the Western Union Consultative Coun- cil. The United States Secretary of State, Mr Dean Acheson, has already made it clear that he does not want to be away from Washington for more than three weeks.
oi
A
"Me MacDonald's friends say that he is about to be promoted. They expect the announcernent in a day or two," the writer
When the three meet the Schuman, today predicted sald,
Soviet Foreign on this report Andrel
Minister, M. "peaceful settlement" to the Big No comment
Vyshinsky tomorrow Four conference, which he said was available at the British
they will continue discussion of would last "some weeks" longer. Colonini Office today, - but a
Speaking at the French town similar presa report early lost the Soviet and United States
Sarreguemines, M. Schuman week was given no support in plans to restore the four-Power
Kommandatura and elect new said, "It is still too early to tell oficial quarters at the time.
Since he arrived here on May united City Council for Berlin. you of the results of the con- As far as can be judged from ference. We have ahead some the records of the plenary weeks of difficult work. What sessions
from the and learned
is БИГС 15
is that the Four would secret ones, the conference co not have met if they did not for locks driving force from
have the will to achieve peace- ful settlement. In a few weeks either side.
Both sides have stated their we will see more clearly and principles on Germany and are the clear horizon will give us standing pat waiting for the new confidence." other do move.-Beuler.
18 Mr MacDonald has met most Cabinet Ministers, has been received by King George, and has lectured to British defence chiefs. Reuter.
Santingo De Chile, June 5.- Police opened fire here today to disperse an opposition demons- trailon which
had been pro- Six hibited by the authorities. policemen and everal civilians were wounded.-Reuter.
SCHUMAN OPTIMISTIC Paris, June 6-The French Foreign Minister, M. Robert
No Dangerous Slump Signs
Wfalling
or
over
AJITH the world buzzing with talk of
commodity
and prices business recessions in the USA and other countries, it is not surprising that security prices have been falling on the British Stock Exchanges. Declines in general have been comparatively small however, and Government stocks, while not escaping from the general trend, have been only slightly affected. In pre- war days, a continuous setback in quality shares combined with steadiness of an actual rise in Government stocks were In usually heralds of a trade slump. other words, the Stock Exchange mirrored anticipated economic trends. The question is naturally being asked if this theory applies today. So far as Britain is concerned, it does not apply to any
So many thing like the former extent, conditions are different. There is for instance, much greater control economic affairs and the Government has plan ready for countering setbacks. Indus. ~try and commerce have been able to build up substantial financial reserves. Recent declines in equity share prices are more. an adjustment to realistic yield levels than forerunners öfn, heavy slump. When looking at the Government 'security prices, it is important to appreciate that they have been for some time woll below the peak levels of late 1947 when the aim was a long term interest rate of two and a half percent. The rate is now around three percent and with budget surpluses and sterling receipts from the Internal disposal of Marshall 'Ald' goods. reducing the amount of the British Government's debt there are grounde for expecting greater stability. It is said that the nationalisation of basic Indus. tries has altered considerably the make up" of the British stock markets. True, railway, road transport, canal, electricity, gus and coal stocks shares have been or are being transformed into Government- backed" stocks and ↑ total approaching £2,000,000,000 concerned to 7 date is
certainly large. But the amount involved is only a small part of the total securities denit in. Moreover, of the stocks so trans. formed, a very substantial part simply.
interest represents exchange of fixed bonds and preference stocks for another form of fixed interest security. The actual reduction in the total of equliy stocks deall in on the market has there- And fore been very considerably less. during the same period there has been new capital issues of equity share by new and established companies. Including bonds and preference stocks made by and than Government concerns, other British manipulators was according to the statistics of the London "Economist" 625 million pounds in the three years, 1946 and 1948 inclusive. Any considera- tion of the present position must not 'ignore the wide saving in equity prices which took place in prewar days, Slumps may return. But changes in the level of. equity shares as well as of the economic activity of the country are likely to be lesa. One powerful factor alone may play a big part in froning, out the undue extremes and this is the voluntary remit- tances of dividends which so many British companies are practising. The the dividend Imitation practised at Chancellor of the Exchequer's request since 1947 Just as it has been a useful; brake on the stock market boom should be a buffer if and when profits begin to fall. By restricting dividends many companies have. bull up "substantial reserves: to. meeting many contingences including falling prices and to help maintain divi.. dends in the lean years. Another factor is that speculation is curtalled by the increased Government stomp duty of 2% on the purchase of equity shares, an increase. from one percent; in 1947, All told then, it would appear that the British stock markets like the economy of the country' generally are less likely to ahow the violent fluctuations: known before the War.,
The Big Four took the day off and both Mr Dean Acheson of and Mr the United States Ernest Bevin-of-Britain-were- reported to be motoring in the country. M.
Schuman's optimicr clashed with the opinions of delegates, other Western the whose hopes for even a make- shift agreement sagged in the face of a double rebuff from the Soviet's Andrel Vyshinsky.
to
Mr Vyshinsky yesterday agala showed his determination stick by his
the touchy of solving
the
For
Reservations
Price 20 Cents
Tel: 27880
Railways Paralysed
Two-year-old Wayne Boyd is in 'dead earnest as he draws a "bead" on a London policeman during a morning stroll in Hyde, Park. The youngster is the son of US. Navy Chlef Warrant Officer and Mrs : Frank Martin, Boyd of Hampton, S. C. Boyd ̈ls stationed at U.S. Naval headquarters in London. His wife is the former Lavinia Avia Wroth of Perth, Australia-AP Picture.
Objects To Loans For China
Washington, June 5.-The Secretary of the Treasury, Mr John W. Snyder, said today. that American loans to non-Communist China would be "most unwise." He added his objec-. tions to those expressed earlier by. Mr Dean Acheson, Secretary of State, on the $1,500,000- 000 credit proposed in the Congress for mili- tary and civilian; aid to anti-Communist forces.
Mr Snyder's views, wore set down in a letter to Senator Theodore Francis Green and covered the fiscal aspects of the loan which was propos.
ed by Senator Pat McCarran. problem by control re-installing the
in outlined machinery unsuccessful Potsdam
agree ment. Hopes of templing Mr Vyshinsky into a more yielding position at a chummy dinner at the American Embassy last night fell flat,
By Strike
Only 13
Trains Run
. London, June 6-Only 13 trains ran today in the North-Eastern region the British Railways.
of
Nearly 40 long distance trains and about 250 local trains were cancelled.
+
Many men joined the strike today who had hitherto nb- stained. Postal services suffer- ed as well as normal passenger and holiday, makters.
An official of the Railways" North-Eastern region issued a statement tonight saying thai reduced schedules were run. Emergency measures were be- ing taken to deal with the postal services, but a delay was expected because mail could not Irave the North- Eastern region until after mid. night.
Mr R. Johnson, secretary of the central strike committee af Newcastle, where tho strikes originated four weeks ago, told a reporter that strikers had not Jost faith in their union leaders and still wanted to keep the
Не
AIRMAIL ROBBERY
Uxbridge, Middlesex, June 5. Detectives here were today investi- gating what may be the first airmail robbery in. Britain.
Bundles of airmail letters, all franked in Ireland to addresres in Switzerland, were dis- covered tonight and on Saturday night in the Ruislip area, near here,
The letters found on Saturday night were scattered over a wide Those picked up area. tonight were tied in two bundles.
It is believed that 200 letters have been recovered. Some häd been opened.-Reuter.
Fighting
Near Nanchang
Canton, June 6.The
door open for negotiationsidered Nationalist official Chinese they were not asking too much Central Nows agency said In re
requesting that the Railway on Sunday, that Communist Executive revert to the former forces were engaging duties requiring Nationalist troops around position 110 nights away from home.
If they did so, he added, the strikers would be prepared to negotiate through the head offices of their unions.
STRIKE SPREADING Britain's "one day a week" rall strike, caused because en- and firemen ob→ gine drivers ject to new dulles forcing them to spend nights away from home, is spreading.
For three Sundays.In succes- sion the mon 011 the main North-Eastern route lo Scof land have refused to work trains.
Koan, 40 miles southwest of Nanchang on the centre of the South China front.
The action, apparently was
not
on a large scale, as the front generally remained quiet,
In this refugee capital the belief was widespread that the Communists were regrouping preparatory to new drive South
Their present pasillons extend generally from Wenchow, on the coast,
in a 600-mile · are running southwest to Klan, then northwest lo Yoyang on the Today, Whit Sunday, of 081 Canton-Hankow rollway. enginemen on the affected scc-
Government sources believed tion, only 100 reported for the Reds were making Man duty, and holiday iraffe พร
chaag. a main concentration seriously interrupted.
were awaiting ar point and While the men were on rival of troops from Shanghai,
of strike the representatives
BLURRED PICTURE nearly 800 others, employed on part of the main West route to Their nearest · ́approach 10, Wales and the Cornish "Rivier
TWO SHIPS Advisory Council, top govern-over the Whitsun hoilday.
COLLIDE
IN FOG
PURELY SOCIAL The dinner, with only Mr Acheson, Mr Vyshinsky and foud advisers prisent, ran, ils
New York, June 6.The course in little more than hour and the Russian represen- 4,900-ton freighter Exmouth tative took his leave before 11
an
Canton in
any appreciable
Mismanagement Charges Not Yet Substantiated
ro." decided, at a mass meet strength appeared to be at ing,
to withdraw their labourg, 300 miles Northeast of
thle city. next Sunday.
The North-Eastern men de close bad news, plus Canton's Nationalist reluctance 'to dis- cided to strike today despite the appeals of
the Minister of poor communications with the Mr Soyder said that on two Labour
ont, tended to blur the war and the
Railway separate occasions, the National Executive to
avold dificulter pleture,
Canton showed
none of the ment agency on foreign.
familiar signs of a city in im- the first big railway metilate danger. Martini Iaw It is decided that a general credit to dispute between workers and was no stricter, there were no China was "not warranted." It the controllers of the fallways was concluded by the Council
greater number of troops on the
streams of re-i strecis, and no that in view of the lack of since the lines were notion.
allard about 18 months ago credit worthiness,
fogces. ald to any
Reuter,
(Continued on Fare 5) China should be on a grant baals exception of .with- the somelon projects."
He said that in addition, the China has "de- situation in teriorated" since the Council considering the problem. began Today the official Ameri- today collided with an un- can position was that the meal identified ship at the en- Accordingly, he concluded, it unwise at this the Delaware would be most planned as a "purely trance to Social". function.
River, but the Coast Guard time from a financial standpoint to China over the Lack of progress
on a credit basis. coffee cups was an echo of the reported that dense fog and to extend assistanco
Senator McCarran proposed fruitless four and a half hour poor radio communications
that a credit be expedited for secret meeting yesterday after-velled the full story.
The Coast Guard said the military and economie afd as meeting concerned The -establishment of the four second ship was tentatively part of the currency stabilisa- Kommandatura and identified as the Greek steamer on programme. He suggested POVAT
Hellenic Beach, but stressed that, China's port revenues, be control: mechanism in Berlin.
The dismal.
post-meeting at that, under the circumstances, pledged as collateral for the titude of the Western: delegates identity was not at all complets, credit and that there be Ameri- supervision of collecting contrasted, sharply
The collision tore a gaping six-can with the
atar- revenuesUnited Press.. momentary optimism they dis-by-ten-foot hole in the played after the previous day's board side of the Exmouth and secret session. The closed ses the ship anchored later with a alon system is due to be con+15-degren list. Unued. tomorrow, with Berila still the tople of conversation.
United Press.
p.m
was
I
Washington, June 5.-Senator Millard Tydings today said the Congressional atomic energy investiga tion had produced nothing yet to back up charges of "incredible mismanagement" against Mr David Lilienthal, chairman of the Atomic Energy Com- mission.
Ho made the statement 713
pear again
The chairman of the Congres Lilienthal prepared to ap- sional Atomic Energy Commit- tomorrow before tee, Senator. Brien MaMahon his principal accuser, Senator injected a now note of discord Bourke Hickenlooper, who had into the investigation yesterday filed the misninnagement when he said it might show charges.
whether it was advisable
tell Americans how many atomic ARABS ASKED Senator Hickenlooper. réfused'
Ho recalledi bombs they had. TWO MEN INJURED
to say what line. This new in- "Two men aboard the Exmouth TO PROTEST quiry would take, although he that he had dat Detroit last
February sald it should be interesting impossible really to weigh the
that it
would be zaid were Injured. One report the second ship received only
Calro, Juno -Beshire had originally scheduled a impos
conference Lor this conduct of the atomic program- minor damages and proceeded
Sandawki. President of the Dows CARRIER GOES on her way, but Coast Guard Libyan, Laboration Committee, afternoon, then called a bit me unless Congress and the about two hours before the pulle had a pretty accurato sources sald usually in today asked the Arab states
idea of the size of the atomle collisions both ships suffered
to halt the formation of in-scheduled timo.
wapons stockpile. However, heavy damage. ⠀
for Agenta
the
7,200-ton dependent Cyrenaica:
Mr
Tydings sald the pro- before ray final decision was to In a memorandum the
Framme was such a vast and made, Senator Mellahon said, Halifax, June The Royal Greek freighter Hellenle Beach
Skadawi
reimportant undertaking that any benefits of such disclosures Canadian Navy's aircraft-cat-Informed the Coast Guard It Arub League, rier Magnificent went aground was their ship which had col quasted the Arab states to In-mistakes were inevitable and unit be balaticed
Congress should be tolerant un security considerations,
onst after striking submerged rockslided with the Exmouth. The torvene to prevent implementa
Senator Hickenlooper promptly Greek ship
less potuel mismanagement was noar' here; today (Sunday),pol
was bound, from tion of Emir Idris el Sunussi's
bombpro Sho was refloated, after three Philadelphia to Baltimore when declaration of Cyrenalean in proved and had gone far enough disagreed. He said
lo prove allegallons that Mr duction was not "safe aroa hours. Little damage, was re-the collision occurred and was dependence last Wednesday.
The memorandum also asked | Lilienthal and other members for publicity. He added tha: be ported and the carrier headed frerouted to New York, where.
charges against for Nova Scotia,angray. It is expected to dock: tonight the Arab alates to protest to of his Commission had been could-prova
no reports of the United Nations against Joefficient, and dista || Bir Lillenthal without examining The Magnificent was returning There were
Britain's granting Cyrenaica
oreonly to base from a training cruise. damage to the Hellenic Beach.
"charges."," the Commission's "weapons prom United Press ·
self-rule,--United. Press.
cald Mr Tydingsdat
gramme, United Press, Associated Press
AGROUND
These