1932-10-11 — Page 1

COM

Sparton Model 10

GREAT

JAPAN DUMPS

COTTON GOODS

dollar, on demand, closed

to-day at 1/8 7-8-

FINAL EDE

China Mail

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

SPARTON SUPER

MODERN

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SERVICE Tel. 23743.

Est. 1845.

No. 28235

HONG KONG, TUESDAY, OCTOBER 11, 1932,

BRITAIN'S NEW

UPON CEYLON

Britain's Trade Hurt By Competition.

LESS-THAN-COST PRICES.

London, To-day: "A grave situation is facing Britain's principal export trade in Ceylon; namely, cotton piece- goods" in face of a flood of Jap anese goods at prices below, the cost of production in European countries, was the subject of a resolution at a Bourd Meeting of the Manchester

Est. 1815.

PRICE $3.00 Per Month.

Fort DUNLOP

*The Tyre Incomparable

FINANCING PLAN ROUSES ADMIRATION

LIBERAL UNION

TREASURY'S POLICY HOPES DASHED

ASTONISHING"

PROFITABLE BORROWING BY CONVERSION

ANOTHER £150,000,000 LOAN

London, To-day.

BY MR. GEORGE

Refuses To Attend

London Rally.

*“REACTIONARY" CABINET.

London, To-day.

Hopes for a Liberal party re- union in Great Britain following the resignation from the present

Samuel's group of ~ supporters,

Again, the Government's financing plans have coalition Cabinet of Sir Herbert Chamber of caused astonishment and admiration in financial received a sharp check to-day Commerce, urging the Govern- circles, which express the belief that the new two when Mr. Lloyd George, the ment to secure reciprocal conces sions as a condition to the mak per cent, issue will command a ready demand, as veteran Liberal "loyalist," ing of preferences to Ceylon per- the supply of short-dated issues is otherwise slen- fused to

der. Similarly profitable borrowing has not been experienced since the nineties.

manent.

It was pointed out that Ceylon granted no preference to British cotton goods, whereas the Bri-

Lish tea preference alone preserv- ed the Ceylon tea industry. Reuter.

· U.S. ECONOMIC

EXPERT WILL

The immediate object of the new issue is to re- finance £140,000,000 of four and a half per cent. Treasury Bonds, the holders of which can convert at par and receive a cash payment of half of one per cent.

MEET BRITISH Earthquake

Seeking Smooth Road

To Conference.

DISARMAMENT PROBLEM.

- London. Roi day Mr. Norman Davis, the Ameri- can economist who has been studying conditions in Europe: recently and has taken part in much of the international dis- cussion on international econo- mics and their relation to dis- armament, will commence his series of conferences with Bri-i tish Government official to- morrow,

He will meet British Ministers and economic experts in order to fulfil a dual mission: for he is preparing the way for America's participation in the World Eco- nomic Conference and attempt- | ing, at the same time, to recon- cile President Herbert Hoover's proposals with the British dis- armament programme.

Mr. Davis will hold his first conversation with Sir Walter Layton...

Rocks Greece

Populace In Terror Of Awful Death,

Athens, To-day. Earthquake shocks of con- siderable intensity continue in the Chaldicide Peninsula, and add to the destruction at the scenes of the recent disaster. Hundreds have been killed and · injured ready during the earth's convulsions and British men-o'-war have been ; taking“. succour to the terrified people

of the stricken area.

な

GOVERNMENT

FACES DAYS

OF LABOUR

Preference Issue To Be Met.

· IRISH DISPUTE CRISIS.

London, To-day.

The Government is facing days

Detail of Plan,

London, To-day.

attend a meeting in

Queen's Hall, London, on Octo-

ber 12, to approve the conduct of Sir Herbert and his colleagues.

The veteran war-time Premiér

contends that a Liberal revival is impossible unless the Govern not merely its tarif policy, completely repudiated.

ment's "reactionary" record, and

'It will be recalled that Lord Snowden, former Labour Cabinet Minister and Lord Privy Seal in The British Treasury has an- the present administration, Lord nounced the issue of £150,000,000 with the Government recently, Sankey, and many others, broke of Treasury Bonds at par, re It was expected in some quar deemable from 1985 to 1988, ters that these "rebels" might bearing interest at two per cent. form a party of their own and It Holders of 4 percent Trea was over angested that they

Would form & Co Nitro Opposition; sury Bonds, the redemption of togather with Mr. George. The which is announced may surren- British political situation has der their holdings in exchange the odd aspect of families in re- bellion, with the Samuel group. for the new stock.

A one-time Liberal stalwaTËS Lists for cash applications will standing alone, the Labour group be closed on or before October split with the resignation of its 12 and the lists for conversion greatest chiefs, Mr. MacDonale applications will be closed on Oc- and Lord Snowden, and Lon

Snowden, twice a “rebel,” parted tober 17.

from Mr. MacDonald's union Cabinet. Reuter.

This is not entirely a conver- alan movement, but it is expect jed that it will be made up largely

Reuter. by converted stocks.

LOCAL DOLLAR STILL UNCHANGED.

Forward Silver Prices Strengthen.

The Hong Kong dollar remained steady this morning at 1/8%.

JOHNNY KING WINS

BRITISH TITLE.

Corbett Outpointed In

Fifteen Rounds.

Manchester, To-day...

Johnny | King, the Manchester

OUR SAILOR PRINCES WITH THE FLEET-The Prince of Wales (left) and Prince George (right) with Admiral Sir Ernle Chatfield, Commander-in-Chief of the Mediterranean Fleet, photo, graphed on H.M.S. "Queen Elizabeth.":

PORTUGAL DENIES TIMOR TO BE CEDED TO JAPAN

Australian Stir Followed Reported Development.

Lisbon, To-day, "The Foreign Office denies the report, that allegedly has created a serious stir in Ana- tralia, to the effect that Portu- gal was ceding the Island of Timor to Japan

Timor is a large island of the north coast of West Aus- tralia, and within easy steam- ing or flying distance of the ---Australian @ mainland. Reuter,

YOUNG SOLDIER

CHARGES ARMY

FORCES CRIME

Sentenced For Many Petty Offences.

ESCAPED HIS GUARDS;

British Pilot

Congratulated

Mr. C. F. Unwins Sets New Record.

PANIC FEET

IN EUROPE'S

MONEY MART

President's Addresa Mis-Interpreted.

HUGE RESERVE OF METAL.

New York, To-day. The US dollar recovered to-day against · · European. currencies, and the tempor ary scare in European ex- changes is dismissed here as ridiculous and presumably. due to a misleading of Pre- sident, Hoover's campaign. speech in Des Moines, In that speech, Mr. Hoover re- called the warning given him months ago by a Federal Re serve - Oficer, saying that unless drastic means were taken to avoid it, America would have to relinquish the gold standard. Apparently, the President's speech was translated abroad as sug- gesting that the threat to the American "gold stand- WAS present, rather past

ard than

An official of New York Fed- eral Reserve Board told Reuter to-day that the total gold stocks in the United States were approximately G$4,200,000,000. "Free gold" was available for ex s|port,cand amounted to: 6113

|000,000 and foreign, balances to

talled G$700,000,000 at which as large part had to be kept in the United States for ordina poses.

Exchange

dould

therefői $200.00

London, To-day. Lord Londonderry, on behalf of the Air Council, in a congratulatory message to M. C. F. Unwins on his

of gold winning a new aeroplane height re-

gold stand cord for Britain, which now has

worthy that, sino been confirmed by the Federation foreign panic in Aeronautique International, says| 000,000, in gold. the success is a tribute alike to the United Sta Unwins' own skill and to the an

ciency of the British aircraft and

engine used. British Wireless Ser-

vice.

19TH. ROUTE ARMY TO FIGHT REDS.

General Au Shau-nien Tells Of Plans.

Members of the Fukien Cham-

It is understood that there is small likelihood that the parley

Spot silver also remained un-boxer who has had a speedy rise changed at 17%, but forward prices to the top rang of the bantam- between Premier Ramsay Mac of tremendous effort, with mat- of silver strengthened from 17 weight ladder, caused a sensation Donald and Premier Herriot of ters of vital importance facing 18/16 to 17% since October 8. here last night when he won the James Hamilton, 19, a private France will be extended to in- it during the next week, and all The London on New York cross British Bantamweight Champion in the 2nd Battalion of the clude the American representa its preparations to be made for rate, quoted yesterday at £ship and the Lonsdale Beit from Argyll and Sutherland Highland- tive. The Anglo-French discus the reassembly of Parliament on G33.454 was this morning quoted Dick Corbett, the London holder, ers, sion will be concerned very large-October 18

who, as a soldier,' has an at $8.454, while the New York after ifteen rounds of delightful extraordinary record, having ly with the armaments problem,

The Prime Minister, Mr. Macon London rate was quoted at boxin The points decision was been under detention manylber of Commerce tendered a tir

in which the Franco-German Donald, who on Saturday returned G48.452- friction is the greatest tangle from a week's holiday in Scotland, The matter of arms equality in to-day took up the study of current Europe is the vital point of the questions with his ministerial col- impending discussions. Beu-leagues several of whom, including the Foreign Secretary, Sir / Joha Simon, visited him at Downing Street..

ter

(Continued on Page 18.)

Important political questions will

30 Rebels Die In be under examination this week and

Ambuscade

Punitive Expedition Prepares Assault.

Manila, To-day.

“in an anbush where a number

of Filipino Constabulary officers

well received

te

Expelled Papal Delegate Reaches U.S. In His

was sentenced to-day, From Mexico Flight

Laredo, Texas, Oct. 6. a series of Cabinet meetings, begin Archbishop Leopold Ruiz Flores ning to-morrow afternoon, will take arrived in the United States to- place preparatory to the reassembly day, crossing the border by way of of Parliament next Tuesday,

the footbridge here across the Río

(Continued on Page 12).

CHINESE INJURED ON

KULT HIGHWAYS.

AR GUMMELINNAS

Ng Luk-chaen, 17, a student of

were killed, according to advices 16 Star Street was knocked down from Jolo yesterday. 80 Moros by a car driven by Taul Wah in

lost their lives, a late

states. Many of the buscade were wou

Tin Lok Lane, yesterday H am-sustained injuries to his head

to the Government

detrained

pur

add-

NEW YORK

EXCHANGE

DECLINES

Forecasts Upset, By Sudden Blump.

2,000,000 SHARES SOLD.

Losses of

its were record- The turn-

ocensions, broke away from tin to General Au Shan-nieu, Military escort at the Sham Officer Commanding the 78th

The Stock Market went into an- Shui Po camp in the early hours Division of the 19th-Route

Gand Lüdden' de“. of Friday morning. Following Army, yesterday at the Glouces other of Its

ngale clines to-day,... breaking ....... sharply this bolt, he perpetrated a series ter Hotel

under selling pre of minor crimes, for which he General Au, in the course of

one to sh his address, explained that his Hamilton made his way over troops were already on the west to Hong Kong and up to Robin- ern frontier of Fuklen, and son Road on Friday morning, would – presently engage, where he entered the residence munist, and bandit forces the of Mr. A. Ichihara, the sub- The Communist manager of the Nippon

mission to remain in this country for six months.

Ruiz said he was treated courte only by the officials dealing with him during the course of the Kaisha From there he stole

ald atas

the set.

bût pri

stood,numbered but his force of handling.It he

over

2,000,000 shares