1929-10-30 — Page 1

NEW 1929

GRAHAM-PAIGE

SEDAN and TOURING MODELS

Touring from $2,300-Sedan from $2,550.

Sole Distributors for Hong Kong & South China:

KOTEGATE & CO. Pedder Building, 3rd floor.

Telephones C. 93 and C. 741,

Musiness Chan

China" Mail

No. 27,323 HONG KONG,

SHHD

WEDNESDAY, OCTOBER 30, 1929.

TO-DAY'S DOLLAR. The closing rate of the dollar on demand, to-day was 1/8 13/16,

PRICE $3.00 Per Month.

nervous

PERHAPS ITS EYES!

Our careful and accurate eye examina- tion will quickly determine if it is due to eye strain. Make an appoint- ment now.

LAZARUS

Hong Kong's Only European Optician. IS, Queen's Road, Central Telephone Mr. Cooper C. 2203 for appolatment.

GOLD BASIS STAMP LEGISLATURE HOME PARLIAMENT CAPTAIN GOES DOWN YEN HSI-SAN'S NEW U.S. STOCK MARKET ‘REDS

FOR CHINA

SOMETHING TO PROP UP HER CREDIT

REFORM

COMMITTEE'S REPORT TO BE ADAPTED

PEKING RUMOURS believed, to render watertight the

DR. E. L. KEMMERER'S

COMMISSION

SHARE TRANSACTION

Steps are being now taken, it is legislature regarding stamp duty. in the payment of which, for share transactions and estate duty. the public has been aitegedly inx in the past.

were

OPENS

PHILIP SNOWDEN ACTS AS LEADER

UNEMPLOYMENT QUESTIONS

London, Yesterday. The House of Commons was

crowded for the re-opening after the summer recess.

M. Philip Snowden, who is acting as leader during Mr. MacDonald's absence, was loudly cheered.

Some

months ago Bill was time was a series of questions relat- A very important item at question Peking. The Chinese Govern Published in the "Gazette" under ment will be advised to place its Government auspices, by which aing to unemployment. Mr. Thomas promised a comprehensive state- finances upon a gold standard as number of reforms (elaimed to be

There will be opportunity ment. necessary) soon as possible by Dr. Edwin L.

to have been for discussion early next week effected. Great opposition' was Reuter. Kemmerer, chief of the American |

A petition was drawn financial commission which has expressed, been surveying China's finances signed and presented. After for the past year, in the opinion interval H.E. the Governor ap- of informed banking circles here. painted a Committee which made

The bankers belleve that Dr. investigations and reported.. Kemmerer's studies have con- vinced him that China's finances

No Opposition

This report was submitted and. was laid on the

will never be soundly based on last Thursday, the present silver standard, so table at the meeting of the Legis- long as the rest of the world with-lative Council

when no amend- nut exception prefers the gold ment was proposed and no standard.

position was raised. The Council adopted the report.

Serien of Questions

Rugby, Yesterday. Parliament re-assembled thia afternoon after its three months*

TO-DAY'S FEATURES

Gold Basis for China

op-

Air Mails Lost

1

Stamp Duty

1

Home Parliament Opens.

Pacific Conference

7

9

Accordingly, it is felt that the Government will make its deci sion and that shortly, another Bill will be published prior to being introduced into the Legisla

Reds Take Kaying

Boxer Suspended

WITH SHIP

STEAMER SINKS IN STORM ON

LARE MICHIGAN

30 MISSING, INJURED, DEAD

Kenosha, Wisconsin, Yesterday, Sixty-passengers and members of the crew had an exciting rescue from the stacker Wisconsin,"

which sank In Lake Michigan, four miles off here in a heavy storm.

Boat loads were rescued and jured and some unconscious. taken to Milwaukee, some being In-

score of his

Fifteen were saved on raft.

Captain Drowned The captain remained aboard and went down with a mates.

Ilis body was picked up Inter by coastguards. Some of the passengera are still missing.

Kenosha, Later,

Nine persons of the steamer "Wisconsin" are dead, four are missing, and 19 have been sent to hospital-Reuter's American Ser-

vice,

FRENCH CABINET CRISIS

DELADIER REFUSES TO FORM MINISTRY

APPEAL BY SOCIALISTS

Paris, Yesterday. M. Deladier has abandoned the idea of forming a Cabinet.

A FREE HAND The Kemmerer commission is the largest and most capable commis- sion which has ever come to China Dr. Kemmerer to make a survey. was given a free hand to select the most able men in their various tive Council, which ought to give lines, and he and his nasistants effect to the Committee's recom- recess. As it was continuing the have been hard at work since early mendations.

session which opened last July, it this year untangling the complicat.|

The "China Mail" has good settled down

to business without ed facts of Chinese fance, going reason for believing that the Bill formal preliminaries. A long list Into taxation, budgeting foreign which proved so

Since M. Deladier's decision, the unpopular has of questions was down to be answer- and domestic loans and debts, and been shelved and that its succes-ed. a large number of which was

Socialist Parliamentary group have all similar questions.

YOY will be so framed that it addressed to Mr. J. H. Thomas, pased a resolution regretting the de- should become law without much Lord Privy Seal and Minister orclsion of the National Council, and opposition.

Employment, concerning the pro-

re-offering Deladler their support. gress made with schemes to relieve unemployment.

The commission is completing its work by the end of 1929, and will then make a report to the central government, which may or may not be published as the Chinese desire. PROPPING UP THE DOLLAR Dr. Kemmerer himself is a re- ticent man. and his associates are well-skilled

in keeping facts and But bank-

opinions to themselves, ers here believe they have learned In a general way what the commis- sion is likely to recommend to the. Chinese government.

His principal recommendation, they believe, will be that China go over to the gold standard. Silver is no longer regarded by financial cxperts as a suitable basis for any exchange. As one banker here declared, "silver has become a mere by-product of lead." The value of

the Chinese silver dollar has been slipping steadily downward since the

STILL FINE

To-day's weather report from the Royal Observatory states:

The anti-cyclone has moved eastward and pressure is high- est over the 5.E. of Japan.

Moderate menscon wil prevail along the South-east Coast of China and over the N. China Sea,

Forecast:-N. E. winds: fresh; fine.

beginning of this year, so that one GOLD FOR ENGLAND

-gold-dollar-will-buy-two-and-a-half-; silver dollars, whereas the previous, average has been about two for one. Bankers here predict that the silver dollar has not yet feached its lowy. level, and may even go to three for one before many months have passed.

TO PAY MORE

Australia To Ship £4,000,000 To London

Melbourne, Yesterday,

Vote For Salary Answering these in bulk, Mr. Thomas said that it was proposed that the vote for his salary should be put down early next week, in order to give an opportunity for full discussion on the subject. He would then make a comprehensive statement. He added that he was more than gratified with the re- spouse which he had received from employers to his request for assia-

tance.

AIR MAILS LOST?

It is believed that the alr mail closed in Hong Kong for London on October 4 and due to leave Karachi on October 20 has been destroyed as a result of the wreck of the "City of Rome" aeroplane last Satur- day.

A further announcement will be made as soon as definite news is received,

APPOINTMENT

VICE-GENERALLISSIMO OF CHINESE FORCES

FEELING AGAINST FENG

Nanking, Monday. mandate appointing You Hal-shan The Government has issued a

bined Chinese Republic land, sea as Vice-Generalissimo of the com-

and air forces.

THRILLS

BANKS REQUIRE 25 PER CENT. MARGIN ON LOANS

HUGE VOLUME OF BUSINESS

New York, Yesterday.

as 10 points.

TAKE KAYING

FATE OF BIG CITY IN

N. KWANGTUNG

A MISSION CENTRE

transacted immediately the stock A huge volume of business was

leading stocks were down as much RECAPTURE REPORT market opened this morning. Many

Talyuen, Monday. The

Exciting Day

NOT CONFIRMED public feeling against Feng in Taiyuen is becoming very in Wall Street, which has never This has been a very exciting day serious. From Taiyuen to Shih witnessed Chia Shuang notices to Sung Shek are becoming numerous.

Yea Hai-shan has completed his preparation for attacking and will move very shortly.

Patriotic Claims

Shanghai, Monday. A high offcial from the

Kaying, by far the most im- such an opening as to-day's. The first half hour of portant and the wealthiest city in ous full hours, and a rally set in at from where a large number of business exceeded any of the prévi- the east of Kwangtung province, 11 a.m., but was short-lived, and at Chinese have migrated to Hong 12.30 prices corresponded with the opening quotations or lower. An Kong and elsewhere, is definitely Northward turn. United States atcel Swatow on

hour later there was a sharp up-stated in a telegram reaching.

October 28 to have

CHRISTMAS PARCEL MAIL

The Christmas and New Year Parcel Mail for Great Britain will be closed in the General Post Office at 5 p.., on Novem- ber 8 per the 8.8. "Macedonia." This mail is due in London on December 1S.

states that Yen Hsi-shan's aims are Patriotic, and that he will shortly Issue a declaration supporting the Central Government.

*

Nanking, Later.

rallied from 171 to 186; General, been taken by Chinese Commun- Electrics from 214 to 244.

Morgane have announced that late, supposedly belonging to the many leading banks have informed, hordes roaming South-East Chinà their customers that they at pre- during the last few months and sent require the maintenance of Interfering with both natives and only a 25 per cent. margin on loans. -Reuter's American Service.

foreigners.

Exchanges 'Rocked'

Montreal, Yesterday.

"REDS" EJECTED

Reflecting the situation in New "Reds" have been counter-attack- A later report was that the York the markets in Montreal and other Canadian exchanges rocked to their foundations by the the wildest storm of liquidation record.

ed and ejected are

by troops under Canton Government. This on may or may not be true, states a "China Mail" correspondent at To-day's transactions

in the Swatow. Montreal market totalled 600,000 shares.

In the opinion of people of

A circular letter atates that

Record losses on paper during Swatow and hinterland, which Yen Hsi-shan is relying on mutiny the week amounted to milliards of latter includes a number of infu- to defeat certain troops, As re-dollars, but there were indications ential mission stations, Kaying gards Feng he is quite safe, but at the close that the bottom had was so strong that its fall can- a prisoner, and his subordinates been reached, and stocks now are Seh Tu-pih and others are under

not be appreciated but its fate surveillance of two companies of

appears to have been sealed, Yen's bodyguard,

Kaying lies to the North of Swatow, close to the Fuklen fron- tier and has been

uneasy for a long time, on account of the proximity of the armed "Red" hordes.

Urged to Submit

Shapghaj, Later. A high official states that the Central Government has ordered Liu Chen-wg to lead his troops from North Shensi to Si-an. Liu is a relation of Yen's and close- ly connected to him.

Through him Yea has urged Feng to order his troops to sub- mit to re-organisation and some one was sent with Feng's own autograph letter across the river to see Generals Sun and Sung and

Asked what progress had bean; made in the promotion of schemes of railway electrification Mr. 2 Thomas said that it was because so much had been done that he wished The resolution demands the convo- others. to make

cation of a Cabinet. next week.

a full statement

I

Hours of Work

"Change of Mind- *

Paris, To-day.

Definitely Abandoned

M. Deladler has

This it is anticipated will have the necessary effect. Already three or four divisions in West

ed to submit.

STOKER'S BODY FOUND

The body of Stoker George Cornwell, R.N., of H.M.S. "Tarantula," was found lying off the South wall in the basin of the Royal Naval Dockyard, Hong Kong, at about this morning.

"South wall" of the Dockyard Is that part from Flagstaff Steps, and is inside the basin.

Deceased went on shore leave on Sunday and was to have re- turned at 11.15 p.m. Diving operations were carried out on Monday and yesterday.

FRAUD ALLEGED

To-day a Chinese named Chuf Leung was charged at the Central Magistracy, with obtaining 2 quantity of furniture worth $229 from a shop at 190. Temple-street, Yaumati, by fraud.

The prosecution alleged that ac- cused went to the shop on October 15, and, representing that he was a 239, Des Voeux-road, obtained tho— furniture on hire. partner of the On Lee firm of

Mr. Ben Turner, Secretary for

In view of the Socialist Parlia Honan and South Shenal have generally held in stronger hands Mines, announced that the Governmentary group's offer of support turned over to the Central Gov-than holders on margin, who have ment hoped to make a statement. Deladier haa resumed the ernment. The other troops will on Thursday of their proposals formation of a Cabinet.

then be surrounded and compell- been forced to unload.

His Worship gave a week's re- for a reduction of the hour of

Closing Unsettled

mand for the Police to Inquire work in the mines.

Paris, Later.

At Chien-An

The closing was unsettled, al- further into the case, especially to Mr. Arthur

definitely aban- Henderson, Foreign The Chairman of the Common-Secretary, stated that the oppor-doned the iden

Yen Hsi-shan le now at Chien- better prices in many cases are furniture shop had accepted the though there was a feeling that find out why the master of the of forming aan. wealth Bank has announced that he tunity for a discussion of the Cabinet. It la stated that the At a second meeting of generals low levels. The rebound reached never heard of before.

higher than the earlier extreme guarantee of a shop which he had has arranged with the Bank of Eng-protocol providing for a resumption support which he reckoned on as he has been trying to mediate, impressive proportions in the last This means, of course, that the land to ship to England £4,000,000 of Chinese must pay more of their dol-in gold, so as to be available in Russia would be given at an early political conditions which made it

diplomatic relations with a certainty was made subject to hoping to prevent warfare. lars for foreign goods--and so long London at the end of the year.

hour. At the finish United States, Yen stated that they should steel was down 12 points; Ameri- He date. as manufacturing remains so poor-added that it was in the best inter-

REVENUE MAN CHARGED useless to continue-Reuter,

submit to ly developed as

the Central Govern- can telephones and telegraph 28, at present, the est of Australia to help relieve the Trade, said that under the exports Mr. Gillett, for the Board of

Motion Rejected

ment So &8 Chinese must continue to buy large shortage in London-Reuter.

To-day Sung Kam (driver) and Paris, Yesterday.

to preserve peace. and American and Foreign Power Leung Choi (stoker) both employ- quantities of foreign goods.

credita

The National Council of the Social-eng and his wife are at Si-hui 22. guarantee scheme, slx

village living quietly, From the foreign point of view,

ed at the Kowloon Canton Railway ist Party has rejected the motion for contracts of a total face value of collaboration with the Radicals in the

The day's sales registered a appeared the most interesting portion of Dr. past year have been based upon his exporters in this country in respect driven to

According to Yen's subordin-new record of over 16,000,000 the Kowloon Magisracy before

aa complainants £186,220 had been entered into with Ministry. Hence, Mr. Deladter may be ates, Yen has all along submitted shares. Kemmerer's report will doubtless be

suggestions. The Minister of Fin-of exports to Russia.

rely проп the Left to the Central

Mr. T. S. Whyte-Smith against that touching upon foreign laana, ance Mr. T, V. Soong, has given ed by contracts included coal, ma-gramme, drawn up to placate the Ex-yet been completed to Taiyuen, of Insurance, New York State, the Kowloon Railway Station

Goads cover-Centre, which does not favour his pro- because the motor road has not a statement by the Superintendent alleged to have assaulted them at Government, but A ray of sunshine appeared in Revenue Officer T. Talon, who is many of which are in default. the commission every possible aid chinery, and textiles. The percent-treme Left-Repter.

he is waiting before proceeding who felt justified in recommend-October 10. there.

The latter issued ing insurance companica substan-a counter summans in regard to All those attending the second tially to invest leading stocks at possession of opium, conference have returned

the present Shansi-Canton News Agency.

-prices. Reuter's His Worship fixed November 25. American Service,

for the hearing.

Bankers here agree that the

financial commission has been work ing upon a scheme by which the Chinese government may repay the defaulted portions of these loans as rapidly as possible, in order to restore credit abroad.

THE COLLAPSE OF CREDIT

to follow their recommendations as ment was 60 per cent. quickly as circumstances permitted.

In their work, and has been eager age of risk accopted by the depart

Mr. Philip Snowden, Chancellor

THE WASTE OF CIVIL WAR of the Exchequer, who received on The financial reorganization of ovation from the Government the government. However, has pro- benches when he entered the House ceeded with discouraging slowness to act as leader until the return of At present, the bankers point out, on account of the numerous, civil Mr. MacDonald, announced that the

wars this year. the Chinese government has no

Whon it appeared Premier would attend the House. credit whatever abroad, and. is that the government at Nanking next Tuesday and would make an rapidly reaching the point where it was ready to begin constructive early statement on the results of will be almost impossible to float work of some kind, having an ac- his visit to the United State.

domestic loans. This is perhaps the most serious problem facing the government, and one upon which

the Kemmerer | commission doubtless spent much time.

1

cumulation of money, some faction

Palestine, Disorders Mr. Lunn, Under-Secretary for another would rebel, and the money on hand was used time and the Colonies, preferred to defer any on Palestine

1929 rainfall....68.03 inches

Average ....80.43 inches

Deficit

.12.40 inches

GIANT AIRSHIP

The

London, Yesterday.

TRESPASSES

to

Doing The Government A Good Turn!

Brokers Tormented

New York, Yesterday,

GIRLS' STRIFE*

at

оп

With stock prices slumping eight to ten billion dollars, of which the six- Mention was again made before Mr. teen leading issues accounted for near-T. S. Whyte-Smith, at the Kowloon ly three billion, yesterday was prob- Magistracy to day of an assault alleg ably the darkest day the Stock Ex-ed to have taken place in Cameron Ten Chinese, one of whom was change has ever men. The American Road. To Resume Her Trials in absent and had, his ball of $5 és was the heaviest loser, with $450,000,- Road, is the

Telegraph and Telephone Company

Elizabeth Hendonca, at 16, Sha Po Near Future treated, were charged before Mr. 000 cut off its total value.

complainant against Edwarda Kinolo and Bells Kinolo, 19, again either to "buy of" some general atatement has

TS. Whyte-Smith at the Kowloon threatening warlord, or to wage spending the inquiry now being

Brokerage houses last night were Pilken Street, and Carlotta Young, 31, Magistracy this morning with defect in the start-

fervently praying that the "punitive expedition against a held into the recent disorders. He ing engine of the airship trespassing on Government Crown further slump, the effects of which while Mr. P. C. E. Rendall will defend.

bankers Pilkem Street. Bankers and businessmen, Chi- rebellious general or group of gen- said the Colonial Office was prepar R.101 has now been remedied Land in Waterloo Road. All ad would be incalculable.

would Intervene to-day to prevent a Mr. J. M. Remedios is to prosecute, ness and foreign, are awaiting the erals who mensced tho disclosure of the commission's re-existence of the government.

very ed to consider the proposal that a and the airship will resume mitted the offence.

The hearing was fixed for November commendations on this subject, be

conference be called for representa-her trials at the earliest favourable

A strengthening factor is the be 18 SÚRVEY OF CONDITIONS tives of Arab and Jewish leaders opportunity. She may leave her other hand these men were doing most of their cash.

Mr. J. A. Howe, stated on the recently formed have still not invested lef that the large investment trusts However, when Dr. Kemmerer with a view to reaching a settle-jshed early to-morrow morning the Government a good, h home and abroad, as business does submits his report at the end of The Minister of Agriculture en-

turn by not thrive when the government is this year, the Chinese government nounced that grants from the

rushing and clearing stones after PAYING THE PIPER crippled by being dangerously near will have at its disposal a survey development fund in ald of further local authorities in dealing with Ilis Worship discharged the de-

blasting bours. bankruptcy,

of conditions in this country made RESTORING CREDIT: by proved experts, together, with improvements of fishing harbours, coast erosion fe known that Dr. Kemmerer should do to rehabilitate the fin-

recommendations of what they amounting to 180,750, had recently Mr. William Graham, Presidente

of the Board of Trade, introducing been sanctioned, already advised the Chinese ances of the government. The

A picturesque Romany ceremony Ceast Eresion the Bill mentioned that it would was revived at the Yorkshire moor to do everything pos Chinese may not be able to put the The House proceeded with the Commissionera for Works which are

facilitate grants by Development land village of Baildon, where His credit in the recommendations into effect for second reading of the Cost Pro- present impracticable, and th and that the moves some time, but the report will serve tection Bill, which is designed to help to relieve semployment

action during the as a guide to future changes.

place and co-ordinate the work of Britsh Wireless Service

Ing naturally eager for the Chinese government to restore its credit at

ment

British Wireless Service.

fendants with a caution.

Arabs Sentenced For Anti-Jewish Riots

gipsies" took part in the coronation to 15 years hard labour, one to 10

Jerusalem, Yesterday,

of their King and Queen and the years, and another to seven years, Eleven Arabs have been sentenced

wedding festivities of a prince and in connection with the recent dis- princess.

turbances at Bafed. Beuter:

STOP PRESS