1933-03-09 — Page 1

BEDFORD

MADE IN

The British

TRUCK

ENGLAND

The dollar, on demand, closed

to-day at 1/3 $-4.

Library, Supr

FINAL EDITION

China Mail "O

THE HONG KONG HOTEL

GARAGE.

The Hong Kong & Shanghai Hotels, Ltd.,

Incorporated in Hong Kong. Stubbs Road, Happy Valley.

Economical 27-h.r. G-cylinder engine -reducing vibra- tion, reducing engine-wear, reduc- in time-off-the-

X road, reducing ex- pentes.

Fat, 1845.

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

No. 28,360

HONG KONG, THURSDAY, MARCH 9, 1933.

Est. 1645.

DUNLOP By Appointment

PRICE $3.00 Per Month.

AMERICAN BANKS

BANKS AND

AND FINANCIAL MARKETS RE-OPEN TO-DAY

DERBY BEAT

SUNDERLAND IN F.A. CUP

Motherwell Overwhelm

Kilmarnock.

HEARTS TO MEET CELTIC IN SCOTTISH CUP

London, To-day.

Derby County qualified to meet Manchester City in the Semi-Final Round of the F. A. Cup when they defeated Sunderland yesterday at Roker Park by the only goal scored after extra time.

HIS MAJESTY PRACTICALLY RECOVERED FROM COLD.

No Il Effects After Three-Day Indisposition

London, To-day.

His Majesty the King has now practically recovered from the effects of the slight cold from

which he has been suffering.

His indisposition he caused His

FEDERAL EXPANSION

OF CURRENCY

UNCERTAINTY IN WORLD

EXCHANGES

Majesty to remain indoors for SILVER SCHEMES TO BE CONSIDERED

AT SPECIAL CONGRESS SESSION

several days, and it was deeme unadvisable that he should attend the first levee of the season on Tuesday, H.R.H. the Prince of Wales deputised for His Majesty. -British Wireless Service.

Motherwell, Scottish League SUEZ CANAL

champions, entered the semi-final of

the Scottish Cup, when they defeat-

ed Kilmarnock, last year's finalists

by the surprising margin of 8 goals! to 3 in their replay at Fir Bank. They now meet Clyde at Ibrox Park on Saturday week, and are favoured to reach the final.

AN

MANAGEMENT

DENOUNCED

"Parasitic Growth On Shipping." EXTRAVAGANT FAMILY

CONCERN

London, To-day.

|

One of the most outstanding financial crises the world has exper- ienced reaches a climax to-day when the emergency bank holiday de- clared throughout the United States terminates. The banks in most of the States are expected to re-open for restricted business and Wall Street and other financial centres are preparing for the re-opening of stock markets and exchanges. Congress meets to-day for the special session called by President Roosevelt.

A state of absolute uncertainty rules in New York and in all world capitals. The effect on markets is difficult to forecast, but the American gold dollar is expected to decline considerably on world exchanges. A minor boom in industrial shares is forecast- ed with an adverse reaction to gilt-edged securities. Low-priced commodities, particularly silver, are expected to benefip

La Hong Kong the general uncertainty is echoed and the effect on the local Stock Market will not be judged until the reaction is felt to-morrow. The general attitude is cautious but some speculation in sterling is reported. Ice House Street opinion is that the Hong Kong silver rises, most. dollar will fluctuate`up and down according to whether sterling or

America's Large Gold Stocks.

CURRENCY CAN BE EXPANDED

di

HRH the Prince of Wales (on behalf of K.M. the King), welcomed members of the Argentine Government" on their ar rival at Victoria Station, London, on February 7. The Mission is returning the Prince's visit to the Argentine Republie in 1931. The Prince with Dr. Julio Roca, the Vice-President, driving away from Victoria Station.--(8. & G.)

Electrifying Britain

£27,000,000 Project Nears

Completion.-

London, To-day. The electricity grid system which consists of a vart network of main: transmission lines covering almost

the whole of Britain, for distribut

Celtic and the Hearts, who have been drawn together in the] Semi-Final round won their re plays comfortably. It is thought| probable that the Hearts will en- A demand for an inquiry into the administration of the Suez Canal gage Motherwell in the Final.

Aston Villa received another was made yesterday by Lt-Col. Sir set-back in their attempt to re- gain the premier league cham-Amold Wilson at an Individualist

Washington despatches cabled pionship when they lost at St. luncheon.

to-day by Router indicate that a Andrews in their "Derby gamef He described the Company as "a mild form of inflation, official con- against Birmingham.

parasitic growth on the shipping in- trolled, will be put into effect, Leicester City sustained an-dustry" and declared that the swol-President Roosevelt is definitely other blow when they lost to len dividends of what should be a gold standard but has stated that opposed to abandonment of the Everton at Goodison Park, Iti will not be long now before they great international public utility he is prepared to impose import- receive their knock out blow-company contrasted strangely with ant safeguards to facilitate re- Mr. William H. Woodin, Sesent year.

It was stated in Parliament that relegation to the Second Division. those of genuine national public uti- tention. His announcement of a cretary of the Treasury, has the total capital expenditure on its campaign for silver purchase is indicated that the expansion of construction would be £27,000,000, Manchester City held the lity corporations. fort at Maine Road against

The dividends, he said, contrast-taken as a guide to the probable

currency would help to replace a exclusive of interest during con- Bolton and secured

action of Congress. valuable points.

ed more sharply still with those paid:

large part of the G$7.250,000,000 atruction.-British Wireless Service. Burnley are almost certain to by the shipping companies.

No More Issues already circulating and a large part be relegated. Yesterday they Practically all the staff of the!

Of Scrip.

of which is being hoarded. lost to the Cottagers by the odd Company were French, though Bri- goal after a heroic struggle for tain possessed half the capital. WASHINGTON STOPS NEW away points.

"It is common knowledge that YORK MEASURE.

results:

two

The following were yesterday's the Company is in fact a family con- cern that is extravagantly manag- 1 ed." he added.-Reuter.

(Continued on Page 4.)

F.A. CUP-Sixth Round. Sunderland 0 Derby

(after extra time)

First Division.

Birmingham

Everton

3. Aston Villa 2 SPEED BOAT ESCORT

6TM Leicester

Manchester C. 2 Bolton

Fulham

Second Division.

2 Burnley (Tables to Date on Page 9.)

· SCOTTISH CUP-Fourth Round.

Celtic

Hearts

Motherwell

3

1

3 Albion

1

2 Hibernians 0 8 Kilmarnock

SCOTTISH CUP DRAW

Motherwell

Celtic

(Semi-Finals).

8

V. Clyde

(Ibrox Park) v. Hearts

Hampden Park)

--Reuter.

FOR CAMPBELL.

Record Breaker Back From Daytona.

London, To-day.

A fleet of 15 speed boats met the R.M.S. Aquitania, with Sir Malcolm Campbell aboard off Calshot yesterday, and formed. an escort into Southampton, where a great popular welcome awaited the. "Speed King."

New York, To-day. The Governor of New York, Mr. Lehman, has announced that'

BY G$3,000,000,000.- -

Washington, To-day.

It is semi-officially stated that the currency could be legally ex- panded by nearly C$3,000,000,000 on the present backing of gold se-

curities,

The total gold in the United

ing electricity in bulk from selected generating stations, will be sub- stantially completed during the pre-

BALANCING THE BUDGET

Encouraging Revenue Returns.

the United States Treasury has States at present is valued at 654.- WHOLESALE PRICES DECREASE revoked the scrip permission.

||250,000,000 of which more than

The issues of Clearing House certi- G$1,000,000,000 ís estimated to be ficates similar to scrip" to meet thei

shortage of cash Was proposed on among the currency already cucu

Monday, and in New York, the cart-lating. ficates were printed for issue on Tues-

London, To-day.

The Treasury return shows that

the ordinary revenue last week

day last. A State Strip Corporation! This leaves the Government about amounted to £26,319,817. If this

York State ́authorities—Router.

Bil was passed yesterday by New G$3,000,000,000 in gold with figure is maintained, the Budget es- which to cover the present and fu-timate for the year ending March ture paper money, Reuter. 3 will be realised.

Reactions In America.

BANK HOLIDAY PREVENTS HYSTERIA.

There was little evidence of real}

Currency Instead Of Scrip

Washington, Earlier,

Income Tax and Surtax receipts last week totalled £19,454,000.

As measured at the Board of

Trade, the average of wholesale prices in February showed, on bạ-:

It is officially stated that the Unit. lance a decrease of 1.3 per cent, Sir Malcolm Campbell believes worry in business circles In Chi- that after a few minor adjustments, cago and New York, where the gened States Government is planning as compared with January, and a his motorcar the "Blue Bird," eral belief was that the holidays the circulation of actual currency decrease of 60 per cent. at com BOLIVIA-PARAGUAY could improve on his own speed re- and limitation on withdrawals was instead of scrip or clearing house pared with February 1932.--

EMBARGO

League Considers Powers'. Proposals.

London, To-day. Answering a Parliamentary ques- tion the Foreign Secretary, Sir John Simon, said that the Council of the League of Nations was considerlog

British-French-Italian randum suggesting a recommenda- - Hon to the Governments; ander

memo-

cord of over 272 miles per hour, but the best thing that could happen to ed-Reuter. a track must be sought elsewhere, benefit the financial situation and

as Daytona will probably be unfit for protect everyone against hysteria | motor racing for two years-Bri- and serious consequences, slates an tish Wireless Service.

R.A.F. FLYERS. TO RETURN HOME.

New Engine Fitted In Fairey Plane.

London, To-day.

Article 11 of the League Covenant, A new engine has now been fitted to impose an embargo on the export is the Fairey Napler Monoplane in

and

to Bolivia and Paraguay, of arma which Squadron-Leader Gayford and war material.

Fight-Lieutenant Nicholetta Such an embargo would not be:broke the long distance fiying, re-i

Associated Press, despatch.

Superintendent of Banks Rainey of California commented on the situation:

"Weak-kneed persona who began making withdrawals and depositing,

money elsewhere largely were re-

moratorium.

sponsible for the These people were trying to make The holiday put everybody on the me footing to protect depositors."

Firmer Tone. On London Market.

MORE OPTIMISM REGARDING "AMERICAN CRISIS,

London; To-day.

British Wireless Service.

M. CORBIN TO SUCCEED M. DE FLEURIAU AT ST. JAME'S

U.S. WOMAN

-MISSIONARY'S

COOL COURAGE

Marched Children To A Dugout,

LÍNGYUAN BOMBANDMENT."

INCIDENT

Tokyo, To-day. An American correspon- dent with the Japanese army at Lingyuan paya a high tribute to the courage and coolness of an American woman missionary, Miss Minna, and her British as- sistants during the Japan- esc bombardment of Ling- yuan.

When the bombardment started Miss Minns marshall. ed the Chinese children under her care and marched the youngsters to a bomb- proof dugout, over which she planted the United States fing,

Reuter.

British Subjects In Jehol.

SAFELY SURVIVE WAR OPERATIONS.

Peking, To-day, The British Consular authorities learn that að British subjects in Jehol Province have conie safely through the recent war oper ations. — Reuter,

DOLLAR UNCHANGED AT 1/3.3-4.

Further Gain Of % In Silver Prices.

No further change in the – local dollar is indicated this morning, the

opening rate 1/3.

Silver prices continue to improve, a further advance of % on yester London, To-day.day's quotations being recorded this Monsieur Corbis, French Am-morning, Spot silver opened at 18 bassador to Brussels, has been ap- and forward silver at 18-1/16. pointed to succeed Monsieur ́de] Owing to the banking holiday ́ ́in Fleuriau as French Ambassador in the United States, no cross rate | London-British Wireless Service. Iquotations are available,

themselves; preferred depositors. London Bnancial market yes Mrs. Franklin D. Roosevelt Brings

War Comparison.

A more hopeful feeling re- garding the American money crisis was displayed in the

terday. The restriction on dealings in dollars continu-||| ed, but their currencies were dealt in-fairly freely,

On the Stock Market Ex-

FRANCE MAY

JOIN ARMS

EMBARGO

Resolution Before

Government,

COMMITTEE URGES GENEVA NEGOTIATIONS

Paris, To-day.

The Foreign Committee of the Chamber of Deputies, passed a re- solution yesterday, inviting the Government to undertake without delay, negotiations at Geneva with a view to prohibiting the export of munitions and arms destined for a country which does not accept the recommendations of the League of Nations on the occasion of a con- flict.-Reuter.

Mr. Matsuoka's Tour "Merely Social.”

DUTCH EAST INDIES AIR KASES.

Japan Denies Rumeur.

London, To-day.

A categorical · denial of the sungestion that Japan is' plan- ning secret air bases. In the Dutch East Indies," has been Imued from the Japanese Em- bassy.

It is emphasised that. Mr. Mat- suoka's visits to the various cities: in Europe and America are being undertaken simply for social pur- poses. Mr. Matsuoka is also ob¬ serving the changed conditions in Europe since his last visit:

He has no mission whatsoever apart from that fulfilled at Geneva (as Japanese delegate to the League of Nations, the atatement .adda.— Reuter.

Japan's Attitude To Disarmament.

WILLING TO PARTICIPATE IN CONFERENCE.

Geneva, To-day. The Japanese delegation of the Disarmament Conference has in- formed Mr. Arthur Henderson of the Japanese Government's inten- tion to continue to participate in the Disarmament Conference,

As the Government consider it indispensable to carry out important modifications in the national defence of the Empire in view of the new situation in the Far East it urges that relevant circumstances should be taken into due account · in any future discussion on disarmament.

--Reuter.

Aircraft Not Included In Arms Embargo.

London, To-day.

On behalf of the Board of Trade. It was stated yesterday, in Parliament, that the embargo on the exportation · of war material to China and Japan did not apply to altcraft or air. craft engines of any kind.--- British Wireless Service.

Japan Buys Four More British Ships.- [TWO`P. & O. BOATS TO PROVIDE MUNITIONS MATERIAL

London, To-day, Japan has brought four morW

"They are the Peninsular. and

tons; the Glen liner, Glenshane,

Vital Personality To White House British ship

A warm personal interest in many

arest in active

Washington.

come operative until certain States, ¡cord last month when they flew non- Mr. William Gibbs McAdoo, sena- change there was a more con- things shapes the daily activities of actual accomplishment on and with Oriental Company's" "Padua 6,000 not members of the League, Includ-stop from Cranwell, England to torelect from California and former | fident tone in all sections, ing the United States, imposed and Waldah Bay, South Africa, a dis- secretary, of the treasury, issued - mi British funds gained to tors the White House. applled a similar prohibition.

tance of 5,840 miles.

statement in Washington stating: 9/16.

As the League was now en- The machine, after tests, dew over When the world war broke out War Loan 8% per cent. closed deavouring to effect a settlement of Cape Town yesterday afternoon, and a critical Gnancial situation de at 9914

A the Peru-Colombla dispute under the airmen will on Monday, begin veloped and the stock exchange Gold mining shares were again Article 18, no question of an em- their tour of the country on their was closed for a reasonable length active, and gold was quoted bargo arosa-British Wireless Ser- Homeward fournay--British Wipe- of time.

ML118/11 — British Wireless 'less Service.

(Continued on Page 18.);

the nation's new first indy, who en

For example, Mrs. Roosevelt be- 6,498 tone, and the Canadian owned Haves capital should be put to work ships Canadian Inventor 5,497 tons to give employment She founded

***In Mra. Franidin Delano Roosevelt's adherence to a well file calendar of furniture shop on the Roosevell Ryde and Canadian Mariner 5,584 tons.

Fairs in her home and in business Park estate to create an industry for The two Canadian boats are ends se potkiag abstract and per local

people

Intended for trading purposes, but She han

on educational pay-the others will be broken up, ons close to her chology, and so she became part or The purchase price of the Padan Into things and teacher at the Podhunter and the Glenshane was £10.500 each. not satisfied merely to be in School for Girls in New York,

(Continued on Pers

Rent