1931-08-28 — Page 1

Library, Supreme Cout

OSINO China Mail

When the boy is argiler

skating, he lets every

stroke carry him as

far as possible

he saves his power

he glides 3

good share of The

time...

THAT'S FREE

WHEELING!

HONG KONG & SHANGHAI HOTELS, LTD.

Incorporated in, Hong Kong)

No. 27,887

ESTABLISHED 1845.

HONG KONG, FRIDAY, AUGUST 28, 1931.

LABOUR AND BANKERS' RAMP

REVERSAL OF NATIONAL

SOCIAL POLICY

APPEAL TO MASSES

TAXATION CAPACITY OF BRITAIN NOT EXHAUSTED.

ALTERNATIVE PLAN

Labour dessidents have issued a manifesto in which, as expect ed, the National Government is denounced as being unauthorised by the people.

MR. STIMSON AT DOWNING STREET.

Personal Call and Informal Discussion.

NATIONAL RELATIONS.

TRADE TREATY

FRANCE AND HUNGARY.

JUST SIGNED

MOST-FAVOURED

NATION CLAUSE.

TO-DAY'S

DOLLAR. — The i

closing rate of the dollar on demand, to-day was 111⁄2d.

PRICE $3.00 Per Month.

DUNLOP Reinforced Kator Crale,

Myres.

Local Branch. Pedder Bldg. Tel 24554.

NATIONAL CABINET AT WORK

MANAGER AND TREASURER WAYLAID.

Armed Men in Mongkok.

NOTHING STOLEN.

MESSAGE OF GOODWILL

خوا و

TO INDIA

THE SERVICES IN INDIA

LONDON PASSENGER TRANSPORT BILL.

NON

· CONTROVERSIAL MEASURES

The Cabinet is to meet again on Monday. In the meantime Sub-Committees are preparing their final reports on the various proposals they have been examining.

Mr. Stanley Baldwin and Sir Herbert Samuel have cancelled

The masses are called upon to Fally round the Labour Party “in course of an informal discussion, vides for preferential treatment from a motor bus at the june the broadcast speeches they were to deliver. During the life of the'

defence of true National interests."

The manifesto alleges (1) bankers' ramp, (2) reversal of the social policy of the Nation, and (3) attack on working classes.

It is claimed the present difficulties can be met and overcome by (1) mobilisation of country's foreign investments, (2) temporary Į suspension of the Sinking Fund, and (3) taxation of fixed interest- hearing securities:

LABOUR'S PANACEA FOR ILLS

London. Yesterday. tee of the Parliamentary Labour

A manifesto, jointly issued by Party were also present, issued a

An attack by four men on the Rugby, Yesterday.

assistant manager and treasurer! Mr. Stimson, U. S. Secretary of

of the Industrial and Commercial State, who, returned to London

Refinery Oil Company, Budapest. Yesterday.

14, this morning from Scotland,

'Queen's Road Central. In Mong- where he had been on holiday, Franco-Hungarian commercial

kok yesterday evening, is con- proceeded to Downing Street to negotiations have been concluded tained in the Police reports. make a personal call on the Prime and a new agreement was initial- According to the Minister.

manager, The two atatesmen

The agreement pro-Ling Kan-sau, he and, the trea- breakfasted together and, in, the ed to-day.

suror, Tang Pak-kwni, had alight-| the conversation, it is understood, of Hungarian wheat in the tion of Nathan Road and Water- turned, naturally, to the main- tenance of the present excellent French market, while Hungary loo Roat when two men sudden- National Government only the Prime Minister will make statements relations between Great Britain grants. certain tariff reductions, ly attacked Tang and threw him and the United States.--British based on the most-favoured na to the ground. One of them was

tion clause.-Reuter.

armed with a knife. Two others, Wireless Service..

one of whom was also armed with a dagger, then came on the scene, and, it is stated, Ling grap

led with the four, during the course of which he received minor injuries to his head and face. The men, without stealing any- thing, are then alleged to have fled down Waterloo Road turning into Portland Street.

RECORD SIZE LOAN FOR BRITAIN

the Trade Union Congress, the manifesto calling on the masses of NEGOTIATIONS PROCEEDING

General Council, of the National the people to rally to the Labour Executive Committee of the Labour movement, "in defence of true Na- Party, and the Consultative Com-tlonal interests and constructive mittee of the Parliamentary Labour effort towards a new social order." Party, signed by Mr. Arthur Hen- The manifesto declares that it derson, inter alia, denounces the is true the National Ministry, as a new Government as undemocratic Government,' is stated to be attack-: and unauthorised by the people, fing the standard of living of the and alleges that it (the new Gov-workers to meet a situation caused ernment) is "determined to attack by the policy of private banking in- the standard of living of workers terests outside public control, and in order to meet a situation caused to be attempting to reverse the by the policy of private banks." It social policy of the Nation. It declares that the taxable capacity does so, "Not because the Nation's of Britain has not been exhausted resources have suddenly diminish and suggests, us an alternative ed, not, because the Nation cannot policy, the mobilising of the coun- afford to provide for its unemploy try's foreign investments, tempor ed; not because the Budget cannot ary suspension of the sinking fund, be balanced, but primarily because and taxation of fixed interest-bear-financial interests have decided ing securities, other than unearned that Britain, is setting a bad exam income. Reuter.

ple to other coutries, In taxing the Rugby, Yesterday. rich to provide for the necessities Following the declaton yesterday of the poor."

VERY

SATISFACTORILY

NATURE OF CREDITS

ALL DEPENDENT ON BRITAIN ECONOMISING

Financiers in America, Britain, and France are engaged in the delicate and intricate business of negotiating credits and loans to Britain. It is expected that an official announcement will be made very shortly.

A loan of a record size is being talked about,

to the public.

Sir Samuel Hoare, on assumption of office as Secretary of State for India, has issued a message of "goodwill" to India, in the course of which he specially mentions the services of India.

LORD CECIL FOR

GENEVA

J

Rugby, Yesterday. be made by the Prime Minister, and

The Prime Minister, Mr. Ramasy that, during the life of the National

Ling was attended to by a doc- MacDonald, left London to-night Government, other ministers will tor, but he refused to go into hos-for Lossiemouth. He will return refrain from speeches outside Per- pital. Both victims are unable to to preside at the next meeting of liament. give a description of the "marau- the Cabinet on Monday,

Goodwill Message for India. ders," except for the fact that It is expected that all reports.

Almost the first act of Sir Samuel they wore dark clothing.

will then be 'before the Cabinet Hoare, on taking over the office of from the Sub-Committees appointed Secretary for India in the

DR. J. FENTON.

Funeral at Roman Catholic Cemetery.

All this depends on an assurance from the British Government Rev. Fr. E. Teruzzi. that it will embark on a serious policy of economy.

at

new

con-

its first meeting yesterday. Government, has been to issue. a Two of the Sub-Committees were message of goodwill to India.. at work to-day. The Sub-Commit- In this he described his appoint- (tee, dealing with the economies ment at this important moment in and taxation required to meet the, the history of the two countries as present situation and effect a bal- the greatest event of his life. He ancing of the Budget, was engag-recalls also, that his two most The remains of Dr. Johnjed to examining the actual details interesting experiences were Fenton, whose sudden death was of proposals, which had already nected with India on the occasion reported in yesterday's China been decided upon in principle. when he and Lady Maud Hoare, Me", were buried in the Roman The second Committee considered were the first passengers to fly in Catholic cemetery, Happy Valley, Parliamentary procedure and the a civil aeroplane from England to last evening, the service at the mensures to be proceeded with India, and his presence

as a de- graveside being conducted by the when Parliament resumes.

legate at the Round Table. Confer- Apart from legislation required {ence. Those who attended to pay for dealing with the financial emer- Regarding probleme, discussion their last respects included Mr.gency, Government. will only proof which will, shortly be resumed.. 4. M. Bowes-Smith. Professor W. ceed with measures of a proved Sir Samuel

expresses the view Faid, Mr. R. E. Cable, the Rev. non-controversial kind.

: that CREDITS CB. Shann, the Rev. H. du T.

the truest.. friend to Britain It is suggested that the London, Great

and

India is Counel of Trades Union, Congress present difficulties could be over-

Pyner, Mr D. C. Wilson. Mr. Passenger Transport Bill, introduc-the

who faces dim- and the National Excutive of the come in other ways, and says that'

New York, Yesterday,

On, and Mr. F. Poon. Many were March, may rank as such and, intention of mastering them. "For H. E. Beale, Mr. and Mrs. Kwoked by Mr. Herbert Morrison last culties in a reallatic spirit with the Labour Party, that the new Gov- while Labour is vitally concerned ernment "should be vigorously. op- with national interests it empha- It is confirmed by the highest

precluded from attending owing since the support of the Labour a solution of the grave political pro- posed in Parliament and by a move- tically rejects that this can only be authority that discussions for the

to the unavoidable shortness of Party, as an oficial opposition is blems, ideas and phrases are not ment throughout the country," the secured by the impoverishment of opening of a British Government

noticé.

likely to be forthcoming, the Bill enough," he says. "That is the joint session to-day, at which mem- the workers. British Wireless Ser- credit have progressed very decid- either In London or New York of ing: From "Joan," from "Jean The Bill provides for the establish problem. With realistic attitude, Wreaths included the follow-will probaby be carried through. spirit in which I shall approach the edly in the last twenty-four hours, the report of credite being arrang and Billy," and from the Univer-ment of a Passenger. Transport goodwill an mained unchanged at quotations. and that an official announcemented for Britain, but the report is sity of Hong Kong.

generally accepted as being accur- Realtics have a nominal quota- may be expected on August 28.

ate and is welcomed as an indica- tion of $174.

The credit will be larger than tion that the crisis, in so far as Ewos, with sales reported at that advanced in 1925 and its cur- the International value of the, $15.80, were in requeat at $15.70 rency will be one: Instead of two pound is concerned, is over. without leading to further business. years, otherwise it will be made Shanghai Cottons were wanted at on similar terms.

Negotiations in Paris. Negotiations for the French $104, but nothing resulted. Zoong

of the joint meeting of the General The manifesto claims that the FRENCH AND AMERICAN

bers of the Consultative Commit více..

LOCAL SHARE MARKET.

Opening Rather Quiet To-day.

The

$300,000,000 Credit?' ::

such a loan at present.-Reuter's American Service.

Crisis Tided Over?

: London, Yesterday.

No confirmation is available

FAIR TO SHOWERY.

The Royal Observatory'a re- port issued to-day at 10.30 a.m. states:&

The typhoon is crossing

both sides must be Board for the London traffic area, combined." Hé concludes with a and negotiations with the Under word of appreciation of the services ground Railway and other groups.in India. "Let them feel assured," have reached a point at which it he says, "that we realize their is generally recognised a suspension difficulties and will not fail to sup of the measures would involve garl-port them in the loyal execution of ous practical difficulties.

their duties."

It la considered probable that any other of the Bills, introduced: by the late Government and stil before Parliament, will be proceed with by the National Govern ment. MAGURAMA DE

A depression is shown to theed SV. of the Paracels."

Temporary monsoon condi- tione prevail over N.E. China. Forecast:-Ewinds, moder- ate; fair to showery.

Rainfall. Rainfall for 24 hours end- ed at 10 a.m. to-day, 0.22 inch. Total since January 1-59.79 Inchée? against an average of-

A. French credit, probably eqüi-share of the credit are being con › Sings remained at $12 buyers."

valent to the American credit will ducted in Paris by Sir Frederick FEATURES SUMMARISED. Trams were in demand at $22, also be arranged. The credit may Leith-Ross, of the Treasury, and

were Stur Ferries at $94. China

Hokkaido into the Pacific. be followed by a long term loan in Mr. Siepmann, of the Bank of Eng- The official summary issued by Lights at $28% and Electrics at the United States, and It is believ-land, who lunched with M. Flandin, the Stock Exchange to-day states: $81%, but there are no transactions ed this will be of record size. the French Finance Minister, to-

The market opened rather quiet to report. this morning with one or two ex-

The willingness of American day. Other financial experts wäre Telephones (part paid) were done ceptions such as Providents, at $344, and buyers at close want bankers to extend credit, it is in-present at the lunch. notably M. Cements, and China Lights, which ed shares at $34.

dicated, is dependent, in a large Fletri. Minister of the Budget.

M: Flandin also had, a long in- were applied for at. quotations. Cements (combined) which were measure, upon the assurance of

Wiggin, the Banks changed hands at $2,085.an active market, were disposed of the British Government that a pro-terview with Mr. Unions, which were done at at $20.80 and $20.70 sellers asking ramme of economy will be adopt-American Chairman of the Bank- era' Committee, which met at Banle $557%, were in demand at $550 at the former rate, but buyers at the ed

récently. the close. Underwriters had buy. close were offering $20.60.

The Bank of France is keeping. ers at $5.95..

old shares were wanted at $13% According to the New York Even-in clone touch with the Federal Re- Providents (old) were reported and the new at $6, but sales did not ing Post Wall Street bankers, serve Bank in New York during

headed by J. P. Morgan & Co, negotiations-Reuter. having been dealt in at $0.10 and transpire at these rates, $64, but there were further buy- Watsons, after sales at $17 and have agreed to a new short term Cable, and Phone Conversations,,

New York, Yesterday, new $17.10, with sellers asking $1732, credit of at least $800,000,000 for are at the latter rate. The

Conversations concerning "sub- shares, after having changed hands closed with buyers prevalling at the British Tressary, pematud sa

stantial private banking credit at $2.95 and 83, had farther sell- $17.205ed

for Great Britain by a powerful Long Term Credit?

American group in process of for- The report that this short term mation, are progressing satisfac; credit will be followed by a long torily.

The negotiations are being car term credit of $500,000,000 Ands Hittle support in banking clrcles ried on by cable, and, telephone here at present.

with Mr Montagu Normandy, who in It has been suggested that a Bri-in Cândda, and with Londonima

ers at the latter figure, but there were still buyers at $2.95.

Hotels (old) were, put through at $17.70, and there were sellers at the close at $17.65. The new sharen were actively dealt in at 817.05, sellers asking $17.30, and

IN THE AIR AGAIN.

Amy Homeward"

**Bound.

Osaka, To-day..

Officials do not deny the correct ness of the report.

at the close there were buyere at 1813.80.KOSTAMISI Amy Johnson hopped off tish external loan will be floated in It is understood that this credit

H.K. Lands were quiet, with sales for Seoul this morning at 5.21 all leading financial centres, but will be established before Parlia reported at 891%

o'clock on her return flight to bunkers here are somewhat doubt ment meets-Reuter's American Humphreys (old), and (new) re: England-Reuter.

ful of the prospects of success of Service..

League of Nations' Delegation. Owing to pressure of work con- fronting Members of the

new Cabinet, and the importance of the decisions to be taken during the next few weeks, Lord Reading, Ministerial Speeches.. Foreign Secretary, will be prevent- Broadcast addresses by Mr. ed from proceeding to Geneva fór Stanley Baldwin and Sir Herbert the League, meetings. Samuel, announced for Monday, The British Delegation has not have been cancelled. It is under-yet been finally completed, but it stood the Cabinet decided that such probable that Lord Cecil, will be at statements as are necessary should its head.-British Wireless Service..

64.81 inches deficit 5.02 EDUCATION EXPERTS of the Health Section of the

Inches.

Temperature.

The temperature at certain speciẞed Centres this morning : at 6 o'clock wa Hồng Kong

82

Macao Pratas Island

Manila..

76.

Foochow

83

Amoy

84

Chefoo

$5

Shanghai.

TO VISIT CHINA.

League of Nation's Delegation.

League Secretary and Mr. Walters, the Secretary-General's Personal Assistant, are now pro cceding to China. Founeduca- tional experts, in addition, will lso proceed to China on August 31 aboard the Bremen. The four experts are Dr. C. H. Becker, ex- Prussian Minister of Education and Professor of the Berlin Uni- versity; Professor Paul Langevin of the College De France, who la In pursuance of the plan for a eminent physicist; Professor R. H. Tawney of the London co-operation between the Chinese University, and Dr. M. Falaki, Government and the League of Professor of the Warsaw Univer- Nations, Dr. Rajchman, Director altyReuter.

HERE NEXT MONTH.

Geneva, Yesterday.