1929-10-01 — Page 12

PACKARD. PLYMOUTH. CHRYSLER. DE SOTO

Motor Cars.

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OF CHINA

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THE

The

China Mail

Tuesday, October 1, 1929 Eighth Moon, 29th Day.

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President Adams

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OCTOBER

Empress of Russia Clara Jebsen

8.30 p.m. 8.30 p.m. 4 p.nd.

HONG KONG,

CENTRAL BANK

BANKNOTES MADE NON. REDEEMABLE

TO STOP SPECULATION.

Canton, Yesterday.

It will be recalled that on Sept. 26 La natice was issued by the Central Bank to the effect that banknotes boar- Ing the signatures of Chow Men-chor in Chinese would be issued for sub- sidiary coins without limit to the amount, but that notes with signatures In foreign lettering would be redeem able et a later date to be announced by the Bank. This morning, however,

another notice has been issued by the

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SEND IT HOME!

THE WEEK'S NEWS

大英十月一號: 禮拜二|| 中華民國已巳年八月廿九日

25 cts.

TUESDAY, OCTOBER 1, 1929.

SHEARER FACES HIS LABOUR & WEALTH

ACCUSERS

VIGOROUS DENIALS

"YOU RAKED THE SEWERS TO RUIN ME!".

• SENSATIONAL EVIDENCE

BRIGHTON.CONFERENCE

REJECTS RESOLUTION

NO INCREASE OF TAXATION

London, Yesterday..

Mr. Morrison, in his speech at Brigh- ton, emphasised that he was speaking as President of the Conference and [not as a member of the Government.

The Conference cheered the reading. Washington, To-day.

of a reply to Mr. MacDonald's message, "You have raked the sewers of asking Mr. MacDonald to convey to London and New York in order to President Hoover and the American ruin me." thundered

nation the Conferences' gratification William Shearer, vigorously, when denying the great task of promoting interna at their wholehearted co-operation 'in questions put at the Senate enquiry tional friendship.

Hank, rescinding the notice of Sept. 26, In other words, all banknotes of what alleging that he was the associate A lively debate on the Independent ever description are for the the be-of international crooks, but he said Labour Party followed a resolution ing non-redeemable. ·

he "supposed" that he had been ar-jurging a drastic increase of taxation rosted in America as a spy. He on the wealth. provide for the de- Fin-admitted that he was arrested on velopment of social services, including

the dock where a yacht was unload-a system ing whisky.

Suspension of Exchange On inquiry, the Department of ance for the reason of the suspension of exchange on the banknotes, our cor- respondent learned that this measure has been taken to stop, speculation on the-banknotes by the exchange shops and barks at the expense of the Cen tral Bank. The method of this specu- lation was very simple; the speculators exchanged the Chow Men-chor bank. notes for coins, with which they bought Hong Kong notes which were then con- verted back into Chow Men-chor notes. This little operation represented a pro- fit from $10 to $15 in Canton notes. For the Hong Kong Notes were quoted the last few days, thus, $100. Hong Kong $138 more or less subsidiary levins, or $148 to $156 Chow Men-chor | notes. Now at the Central Bank one Chow Men-chor note was exchanged for $1.00 in subsidiary coins, and it was therefore a matter of making. three exchange operations and the profit was made. The Chinese bankers were not slow in seizing the oppor tunity to reap very large profits' before the Central Bank realised that if the amounts of exchange were big enough would only be a question of time. before the Bank would be exhausted of its cash reserve.

When our correspondent asked when the Government intended to remove the

suspension

of children's allowances, which ended in the defeat of the re- Shearer said that shipbuilders Bolution by 1253,000 to 866,000 votes. offered to pay him £56,000 yearly to go to Geneva and then drum the

Degrees

Temperature 10 am., to-

day

78 Température, 4. p:mi..

yesterday

$2 Humidity. 19 am, lự

78 day... Humidity; 4 p.m., yes-

Lerday

.65

necessity of a Navy Merchant Marine into the American public. He denied trying sabotage at the Geneva Conference.

[

Rejoleing at Brighton

The Labour Party Conference, the first held during the Labour regime, opened at Brighton in an atmosphere of rojoicing."

In

A

Mr. Herbert Morrison, presidential address, alluded to the satisfaction at the work already accomplished by Mr. MacDonald, Mr. Snowden, and Mr. Henderson, and declared that economic dis- armament was as essential as mili- tary disarmament in the intereste of world-wide peace.

He concluded by saying that the "Government is, doing well, but success is not spoiling us. We re- fuse to water down, our final objec-

tives. #

Rear Admiral Reeyes also gave evidencé and said that he desired

"We aim at- a new society of the success of the Conference, the Socialist Commonwealth."-- Reuter's American Service...

Reuter.

CANTON 'PLANES

RETURN TO CITY FROM FLIGHT TO ŇANKING_

NEW APPOINTMENTS

[An earlier message stated: Mr. Clinton L. Bardo, Vice-President of the New York Shipbuilding Corpora- tion who was the first witness to ap- pear at the Senatorial investigation three, companies sont Mr. Shearer to into the Shearer scandal,

said that

of **banknöte Ex-Geneva as an observer and report the change, he was informed that this unpublished proceedings. They agreed matter was under the tonsideration of to-pay him $25,000. Mr. Shearer's, the Provincial Government Canton

connection was terminated when it

Canton, Yesterday. News Agency.

became apparent that he was evi- dently-determined to fasten himself Kun, under Wing Commander Teng The Cantonese planes, the "Tung on to the shipbuilders.

President Hoover, speaking with Yuet-ming,. "Feng Yu" under Wing the authority and dignity of his Commander Wo Kan-ngar, and the Krent office, declared that the naval "Nam Hol" under. 1st Squadron-Com- FINAL COMMUNICATIONS NOW scandal created by the Shearer al-mander Wong Kwong-yu, returned to Jegations most he shifted to the Canton last Frdaly afternoon at 2 P They left Nanking the previous The President expressed.

very day

Hankow, where they spent the strong views regarding · the closures and said that the fallest in-night, and left the following morning vestigation was demanded as the use at 8.30 for Canton, making the trip in of unscrupulous

to five and a half hours. propaganda thwart the Government's naval Commander Wang Kwong-yu will be

Wal-jung.

NAVAL CONFERENCE

RECEIVED

WAY NOW CLEAR

Londen, Yesterday.

bottom."

evident."

dis-

A message from the 5.6. "Berengari" atates That Gnal cùmmunications hava imitation programme is so obvious acting temporarily for General Chang been received from the Dominions garding the questionis 'upon which "để- pended the invitations to the five Power naval conference. The way is now clear for the issue of Invitations conference for the middle of

to a January.

Japanese Parleys

Tokyo, Yesterday.

A conference of, the highest naval and military authorities was held this morning to consider the forth- coming naval limitation confer- ence,

Though no details of the discus- ' gion which ensued are available, the fact that even the veteran Admiral Togo attended la regarded as as indication of special import-

ance.

j

scandal when Mr. Shearer brought Publicity, was given to the alleged

Colonel Art Lym

an action against three important Of the 30 flying officers who left for shipbuilding

companies, claiming the north, 10 returned to Cantos, ar- $267,655 font payment for his acti-riving here yesterday. The others vities at Washington, Geneva, and are waiting for appointment by the elsowhere in connection with 'naval Central Government, with the excep- armamen He declares that he was tion, however, of Colonel Art Lym, who employed

by them to "crabis appointed Chief of the Technical American disarmament.]*

COSTES SIGHTED

27

Department of the National Aviation Administration, and Colonel Hung Chiu-to, now Chief of Military- Affairs of the Administration.-Canton News

FRENCH >AIRMAN SEEN OVER Agency.

RUSSIA

EN ROUTE FOR IRKUTSK

Moscow, Yesterday. The airman Costes was sighted to day flying over Novosibirsk en route for Irkutsk Router.

MR. SUN FO RAILWAY MINISTER ON SHORT VISIT TO CANTON

It seems likely however, that the

[The airman Costen topk off at 8.20 THE RUSSIAN DISPUTE original intention of calling to- for Siberia from Le Bourget on Sep- day's meeting was to discuss the tember 27 In an attempt on the world's

Canton, Yesterday: invitation to the Disarmament Con-record for a long-distance pon-stop: The Minister of Railways, Mr. Sun ference, which the Government flight. He was accompanied by Fo, is expected to have Heungshan to-

morrow for Canton by the gunboat) expected to receive over the wook Bellonte. · end, before the Premier left for Ise Coates' machine" has a six-hundred Chung Hoi," which is placed at his to attend the solemn ceremony of horsepower engine, and carries 5,200 disposal by the Naval Headquarters, litres of petrol, He intended to By Accompanying him probably will be removing "the Sacred Mirror." about nine thousand kilometres, and the ex-Premier, Tang Shao-y), and kis The Invitation, however, has not yet remain in the air about atty hours wife, and General Wu Te-chen. been received, Reuter.

He had hoped to reach Tokyo.]

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WATCH ON RHINE

FRENCH TO STAY TILL YOUNG PLAN 18 BATIFIED

PREMATURE EVACUATION

Paris, Yesterday, Replacing M. Poincare who, for the firat, time for many years, was unable to preelde at the opening session of the Council General pf. Meuse Department, M. Maginot, Minister for the Coldnièn in ́s ipsech at 'Bax le Duc, declared that pranáture evacuation of the Third Zone of the Rhineland, under" The Hague Agreement, was strictly condi. tional upon the French and German Farlamenta ratification of the Young Plan. Therefore, the French troops would remain until the Young Plan operated."""Ranter,

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