1931-08-12 — Page 1

OSIXIO

TWELVE GREAT

ADVANTAGES OF

FREE WHEELING

WATCH THIS SPACE.

HONG KONG & SHANGHAI HOTELS, LTD. (Incorporated in Hong Kong.)

4

Rer JINE HUWSCAPEK STEEPE

Library, Supreme Court

China Mail

No. 27,873

DETERMINED TO BALANCE BUDGET

WHOLE FINANCIAL SITUATION BEING DISCUSSED

ESTABLISHED 1845,

HONG KONG, WEDNESDAY, AUGUST 12, 1931.

AUSTRIAN BANK

DIRECTORS DUTIES

POWERS TO CALL MEETINGS.

SUSPENSION OF PAYMENT.

ALL PARTY CONFERENCE SZE YAP APPEAL

RECREATE NATIONAL

· CONFIDENCE.

London, Yesterday.

Government's determination to balance the Budget and take steps to recreate national confidence is reflected in the announce- ment that a special meeting of the Cabinet Economy Committee will to-day discuss the wrole financial situation.

SPECIAL MEETING

for initiating such legislation is

WHAT IS A VALID

NOTICE?

At the further hearing of the Sze Yap Steamship Company appeal case, before the Full Court this morning, Mr. H. G. Sheldon con- tinued his address on

behalf of plaintiff-respondents.

In commencing, he said that be fore leaving the question of fact he would like to call attention to a small piece of evidence which was both interesting and valuable, as showing the attitude of the anti- requisitionist Directors.

One witness had said that Mr. Leo d'Almada, solicitor for the Directors, (appellants in the pre- sent action), spoke at the meeting Mr. d'Almada wanted to say that the meeting was unlawful because only one-tenth of the shareholders had convened it..

Solicitor's Instruction.

"My submission is," said Mr. Sheldon, that it is impossible to reconcile that evidence with

A SURPRISE

NATIONAL BANK TROUBLE

Bucharest, "Yesterday. The Berkowitz Bank, con sidered the soundest in the cour try, has suspended payment.

The||

TO-DAY'S DOLLAR. closing rate of the dollar on demand, to-day was 11%d.

PRICE $3.00 Per Month.

WIRELESS CASE

INSTALLED WITHOUT A LICENCE.

$25

FINE

USED FOR A PAPER.

It is closely connected to the National Bank which promises operator, were assistance in order to prevent further failures.--Reuter."

Earlier Cable.

the Wah Tez Tat Po, a Chinese Leung Yuk-cheung, manager of

daily paper, at 10, Wellington Street, and Cheung Wal-man, an

Mr. W. Schofield this morning, for aummoned before

having a Superwasp wireless re- eelving set installed in the base- Geneva, Yesterday, ment of 47, Wyndham Street with- In response to the Austrian out a licence. Government's request League Council to seek some to the means to remedy Austria's econo-E. W. Hamilton) appeared for the mic and financial difficulties, the prosecution, whilst Mr. Horace Lo League is despatching two finan- defended. cial experts to Vienna to investi- gate conditions.-Reuter.

90.

The Postmaster Genera) (Mr.

Waliquoges

BUILT FOR THE

JOB/

Local Branch. Pedder Bldg. Tel. 24554.

HOOVER'S WAR DEBTS MORATORIUM

EXPERTS REACH COMPLETE AGGREEMENT

RECOMMENDATIONS.

RIGHTS OF CREDITOR NATIONS NOT SACRIFICED

Rugby, Yesterday. The Conference-of-experts, appointed by Belgium, France, the United Kingdom, Germany, Italy and Japan' to consider the de tailed measures required to give effect to President Hoover's pro-

year and attended by a representative of the United States, issued posal for the suspension of Inter-Governmental payments for one

a communique to-day stating that complete agreement had been' reached on the detailed measures required to give effect to the proposal in the case of payments by Germany under agreement.

HOW TO BE REPAID

cent.

Though the gravity of the pre-ruption of his holiday occurred gent situation is realised, it is at Downing Street this morning. emphasised

in well-informed with the hasty arrival of the quarters that there is no ques-Premier after travelling all night tion of emergency measures. The long, after which he was visited

Purely Technical Offence.

The Conference had been ap-to be paid, provided that it is ditional annuity should continue Government is likely to propose, by Mr. Philip Snowden and the

Mr. Lo said that he understood proved by the Governments, re- Immediately lent again to the however, that an All-Party Con- King's private secretary.

from Mr. Hamilton that he was presented and also by the Gov- German Railway Company. ference discuss the proposals Mr. MacDonald, in an inter- of the Economy Committee, and view, said that "urgent Govern-dence, and in reply to Mr. Potter, ing. They did not do so in the ternative. He was pleading guilty New Zealand, Portugal, Poland, kind, the conference decided that

Mr. d'Almada himself, giving evi- the old directors to convene a meet-of the summonses, which were al- Czecho-Slovakia, Greece, India, only asking for a conviction on one ornments of Australia, Canada,

Deliveries in Kind. Mr. Neville Chamberlain is men- mental business" had brought for plaintiffs, had said that in his specified time.

With regard to deliveries in tioned as the most likely repre-him back. He declined to dis- speech at the meeting; he had point- who had any sense of responsibility

'And any directors to a purely technical offence. sentative of the Conservatives cuss the nature of this; or com-ed out that if the signatures to the

Roumania and South Africa, any arrangements. and Sir Herbert Samuel of the ment on newspaper reports that requisition were obtained by deceit holders would have convened the

The Conference recommends to permit a continuation of deli- Why Removed.

designed or of their duties to their share- Liberals.

that payments, both of repara-veries in kind contracts must the Conservative members were the requisition might be bad in law,

The wireless set was the pro tions and inter-Allied debts, sus- involve no charge on the German Government's Responsibility. appealing to him to form an and the meeting thereby invalidat of these gentlemen (the requisi- had a licence issued in the name should be repaid by ten equal an injury to German economy.

meeting. Yet in spite of the righta perty of the Wah Taz Yat Po, who pended during the Hoover year, Budget during the year and no If the conference is held the emergency Government, but it is ed Conservatives, white anxious to understood that his return is con-

tionists) these directors did not do of the manager, for keeping the nuities from July 1, 1933, to in- support. Government legislation nected with the recent economy

ret at 10, Wellington Street, clude both principal and interest

Germany and Belgium. toward effecting economies, are report and the general financial

appears that, on July 31 last, the at a rate not exceeding three per been reached between the Ger- It is stated that agreement has of the opinion that responsibility situation.

Director's Duties.

operator asked permission to re-

It makes this recommen: man and Belgian Governments on ing that the reception was not very "The question I want to argue is move the set, his main reason be

dation on the assumption the Marks question. Government as regards debts due recommendations as to the detail-

Inter-Allied War Debts..... to them and, having the aptisface measures for suspension of ceptable to the United States The Conference also agreed on tion that that method is possible inter-Allied War debts due to the without any sacrifice of the rights United Kingdom, Franes and of any creditor Government in Italy, and of payments under The relation to those of other creditor Hague Agreement with Czecho Governments.. Mr. Mac- continue, owing to

Slovakia. His business was to gather

Annuities. broadcast news for his paper, and

Hungarian and Bulgarian Payment of annuities will be a far worse position than the fail this naturally required the best re- absolute obligations involving no

Payments. Counsel expanded his point ining directors,

ception possible. He thought that option of postponement..

Agreement was reached on the reply to the Chief Justice, submit-

The Chief Justice: Then, your it would be more convenient in his Germany's Qualified Acceptance, principle that payments due by ting that MP d'Almada got up at point is that the failure of the house. the meeting and said it might be directors inakes the previous notice His Worship, Interposing, agreed pointed out, in accepting the pro-ments by Bulgaria under The

German Government Hungary under the Paris Agree

ment of April, 1980, and pay- bad in law, He must obviously effective?-Exactly, My Lord. bave been instructed to do so by

that. for Press news it was impor-posal, that they did not intend his clients, the anti-requisitionists. so far, had been, firstly, that the wireless

Mr. Sheldon said that his points tant to have good reception on the expressing any opinion as to ague Agreement should be sus- He would not volunteer the in- first notice was good for both meet-

Germany's future capacity of pended during the year subject to payment.

cortain adjustments. British formation on his own account. "Iings; and secondly, that i nany case,

Wireless Service. contend therefore that such a pro-the second notice sent out on July! cedure

liberations.

Labour Government.

the This is the second time that case of the appellants that a re-whether Mr. Justice Wood was it is uncertain that they will agree MacDonald's holiday, as the Fre-selutions, or two only, was put to to convene is given to the requisi- turbances. He took the set to 47. solely the Government's. Hence business lias intruded on Mr. | solution whether to discuss eight re- right in saying that the authority clear, owing to atmospheric dia that the system will be ac to any kind of three Party de-mier had just concluded long, con- the meeting. Mr. d'Almada's speech tionists only when the directors Wyndham Street, where he

fidential discussions with Mr. points unerringly to the fact that have failed in their duty. It had stailed it in the basement. The Stimson in the Scottish high- the Reports of a Cabinet split in lands during walks over the were trying by every available so failed, then

anti-requisitionist directors been contended that if the directors operator, aaid Mr. Lo, thought that the matter are stoutly denied, moor and in the dining-room of means to atop the eight resolutions had power veated in them, and the address, which was his residence.

the requisitionists he might try the set at the new the Labour Government is facing men sat in the evening, by the matter of fact, was not allowed to an argument is not sound, then the but it is undoubtedly a fact that the farmhouse where the states being put. Mr. d'Almada, as a previous notice izeld valid. If such Broadcast News for a Paper. a very severe internal crisis, light of oil lamps.

Many of its supporters are advo- Donald admitted that the talks that arose, and he sat down."

the clamour requisitionists are obviously put in

cating heavier taxation rather covered international financial than cuts in the social services. questions-Reuter.

Not So Bad As It Looks.

men-

It should be noted that about a half of the £120,000,000, tioned in the Economy. Com- mitee's Report, to be found in order to balance the Budget, is on account of the usual provision for repayment of existing debts. Hence the position is not so bad as it looks-Reuter.

PREMIER SPENDS BUSY. DAY

Dealing with Governmental Business,

Rugby, Yesterday. The Prime Minister, who re

turned to London by the night train from Lossiemouth, spent to-day in a conference with Minis- ters..

GERMANY'S DAY

TROUBLE IN COLOGNE.

NUMEROUS ARRESTS AND CASUALTIES.

•

i

An Experiment. Continuing, Mr. Lo explained,

very

was entirely inconsistent 17 was a good and valid one. He that the idea was purely an experi- with any desire on the part of the submitted that the only, point Mr.ment, and that the aerials at 47, anti-requisitionists to give their Justice Wood had to decide was Wyndham Street were of a opponents a fair `hearing.” : whether the notice was a fair one improvised character, thus indicat- Mr. Sheldon continued, "My sub-to the shareholders as to what was ing that there was no intention to mission on the evidence as regards going to happen, or was it auch a have the set fixed there permanent- SHOTS AT POLICE whether the second meeting was re- notice that they might be pre-

ly... gular or not, and the resolutions judiced by it?

Mr. Lo added that he understood passed there were valid, Is that it

that the defendants should have is a matter entirely of fact, and, not

Ample Information. fact, drawn from documents, but

had a licence for the set at the Counsel further submitted that now address, and asked his Wor- entirely from verbal evidence of there was ample information avall ship to deal with the case lentent- witnesses In the Lower Court." able to the shareholders, because 15

Truth and Accuracy. Interviewed upon arrival he

the original requisition was in the

Simple Case. Counsel then referred to the sub- hands of the company, and pre Mr. Hamilton said that the case anid, he had completed his study

Cologne, Yesterday. of the Report of the Economy

missión "on appellants behalf that sumably ought to have been in was Many shooting affraya in the the witnesses in the Lower Court their office, open for examination.was not suggesting for the mo

a perfectly simple one." Committee and emphasised that streets occurred for over two had, all given a truthful account. Replying to a query by the Chief ment, that the manager was at Government's attitude would not hours on the occasion of a torch Truthfulness is not synonymous Justice, counsel said that at any tempting to defraud the revenue, be decided until the meeting of light procession arranged by a with accuracy...and this Court rate a copy of the original re- otherwise he would have made. an the Special Cabinet Sub-Com Republican organisation for mittee at the end of the month: stitution Day,

for Con- of Appeal, by reason of various inquisition was sent to the company's application for the forfeiture of

fluences, cannot be in the same office:

the set Many shots were fired at the position as was the Trial Judge. As regards the notice to share "General Post with the P:0.

SPIRIT STOVE EXPLOSION.

The

Unconditional Annuities.

It was agreed that the uncon-

OTR

NFW

SEAPLANES

FASTEST AIRCRAFT

EVER BUILT:

Earlier Newn.

London, Yesterday. The conference of financial ex- perts sitting in London has reach- ed a complete agreement on the detailed measures to give effect to the Hoover plan.

The formal protocols will be

signed this afternoon-Reuter

RE

ACID THROWING.

Whilst walking in Hollywood Road yesterday, Chan Fong, a woman living at. 19, Centre Street alleges that some person threw corrosive acid

over her face and

HSCHNEIDER RACE She is now in the Govern

Mr. Hamilton, sometimes may use

a sort of "general post."

He had come to deal with general Governmental business.

Mr. Ramsay MacDonald had Police who replied by firing with My friend contends that such is the holders, the whole point was whe Same unscrupulous people, said long conversation, during the out warning wherever a crowd case, but it is a fallacy, in my ther it gave them fair notice of collected. Numerous casualties opinion, to say that because the what the meeting had to deal with. morning, with Mr. Philip Snowden, Chancellor of the Ex-are reported, besides arrests. Trial Judge held that the witnessee "It is a very curious thing that not two receivers on one set, and play Cafes and theatres are closed. tried to give a truthful account a single witness has been called chequer, and he, alno, say Sir

Reuter:

of what happened, the Appeal by the other side to say that he did the summons against the operator His Worship decided to dismiss Clive Wigram, the King's. Privatë. Secretary British Wireless Ser

Court is in the same position. The not know the object or the date of he being a subordinate. vico.

demeanour and standing of those the meeting. Obviously in this witnesses have to be considered. case the Bhareholders all mew these

Obligations. LI Choi-chi (82), of. 8, Village And obviously one net of witnesses rows were going on,

In reply to his Worship, Mr. Road, was taken to the Government could not have told the exact "In addition, there was net one Hamilton said, that one must pay Civil Hospital yesterday suffering truth.

"case produced'e of pre dice $1 for alteration of address, and from burns to his head and the Mr. Sheldon went on "'deal with. by? sason of "not":

one's wireless set must be regla upper parts of his body, which the question of the

fered, always. were sustained when a spirit stove.confirmatory meeting which he was preparing his mealji

He claline hat emple entirely notice had been previously given to the case

URGENT BUSINE

Premier « Hólida.

ded;

and

The Magistrate said that under the circumstances he would impose

-fine of $25 on the manager,

TWO SPECIALLY DESIGNED,

ment Civil Hospital suffering from Bèvera" burna, Her" assailant is unknown.

which Squadron Leader Orlebar created the world's speed 'record of 867 miles per hour.

.

The chief points of difference Rugby Yesterday. are increased horsepower, pro- A small company, of experts vision for carrying greater loads and journalists to-day inspected of fuel and oil, increased cooling

seaplanes which have been spe Observers commented to-day the two new racing Vickers efficiency and a new type air.. Supermarine Rolls Royce S6B screw.

cially constructed for use by the on the perfection of the stream British team in the contest on lining Bed on the water cooling September 12 for the Schneider avatem by which the entire upper Trophy and which are expected and lower surfaces of the wings to prove the fastest aircraft ever constitute water radiators mado bullt, kevay of duralumin

The machines closely resemble The new aircraft have been the ickers Supermarine. Rolls specially designed and construct. Royce 66A seaplanes flown in the ed by the Fairey Aviation Com- 1:1929

chneider Race, on one of pany --British Wireless Service.