1933-03-11 — Page 1

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THE HONGKONG HOTEL

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Library, Supreme Court

China Mail

THE OLDEST. ESTABLISHED NEWSPAPER IN THE FAR EAST

BEDFORD

Est. 1815.

Stubbs Road,

Happy Valley.

ENGLAND

No. 28,362

HONG KONG,

SEVERE EARTHQUAKE

Admiral Sir Frederick Dreyer.

NEW C.-IN-C. OF CHINA STATION

Admiral Sir F. C. Dreyer Takes Over.

ADMIRAL SIR HOWARD KELLY LEAVES

Admiral, Sir Frederick Charles Dreyer, K.C.B., C.BE, who arrived

SATURDAY, MARCH 11, 1933.

· Eat. 1845.

PRICE $3.00 Per Month.

ROCKS LOS ANGELES THIS

12 RESERVE BANKS RE-OPEN TO-DAY SOUND BANKS OPENING

ON MONDAY

DRASTIC CUTS PROPOSED IN ROOSEVELT ECONOMY BILL

WASHINGTON, TO-DAY.

TWELVE CENTRAL RESERVE BANKS RE-OPEN TO-DAY AND IT IS EXPECTED THAT ALL SOUND BANES IN THE UNITED STATES WILL RE-OPEN ON MONDAY, COMMODI TY AND SECURITY MARKETS WILL RESUME- TRADING AS SOON AS NORMAL MONEY EXCHANGE IS RESUMED, AND A PERIOD OF GREAT ACTIVITY IS ANTICIPATED ON

THE STOCK EXCHANGES, WHICH HAVE BEEN PRACTICAL- LY AT A STANDSTILL SİNCE LAST SATURDAY WHEN THE NATIONAL BANKING HOLIDAY WAS ENFORCED.

President Roosevelt and Secretary of the Treasury Woodin

conferences series of

with financial are engaging in & leaders and State officials for the purpose of preparing rush legis- lation to tighten up the country's banking laws and to extend Gov. ernment control over the banks. An Economy Bill, proposing drastic cuts in administration expenditure has been sent by the President to Congress, which is expected to grant immediate as- sent.

*

Follow the Manufacturers

lead....

FIT

DUNLOP

A complete absence of rowdin ess featured the great Labour demonstration in Hyde Park on Fe bruary 5, when 20 contingents marched from all parts of London as a protest against unemployment. (At On the right the procession with its banners is seen entering the gate by Hyde Park Corner. left). Mr. George Lansbury, the Labour leader at the head of the march with Mr. John Bromley. (8. & G.).

BRITISH AND

FRENCH VIEWS

HITLER'S "IRON RULE” MAY AFFECT GERMAN BANKS

EXCHANGED Shares Shamp On Rumours Of

Premiers' Discussion

Yesterday's extension of the banking holiday and gold canbargo here on Thursday to relleva Ad- created little surprise as it was recognised that a respite must be grant- "NO miral Sir William Archibald ed to allow for the drafting of legislation to ensure better control of Howard Kelly, R.C.B., M.V.O., as Commander-in-Chief of financial transaction in America. The steps taken to prevent specula- the China Station, hoisted his dag tion will act as a safeguard against foreign gold raids when the ex- on H.M.S. Suffolk at 8 a.m. to-day.changes re-open.

C.EL.G...

The Suffolk saluted · Admiral Kelly's flag flown by the Kent with seventeen guns and the Kent „répil-] ed with a similar salute.

Preventing Raids On America's Gold.

Admiral Dreyer boarded the Kent at 9.30 this morning where he President Roosevelt's proclama- was received by the guard. He tion quotes the warlime Trading was then introduced to his officers. With the Enemy Act, providing pen- At ten o'clock Admiral Kelly alifes for violation þf $10,000 or visited the lower-deck and made a ten years or both.

Drastic Economy Cuts In U.S.

CENTRAL FEDERAL RESERVE BANKS RE-OPEN.

Washington, To-day. President Roosevelt's Economy

In Paris.

SPECIAL PLAN EVOLVED"

Paris, To-day.

The World Economic Conference and the general Europesa, situation figured in yesterday's dicasdes between the British and Franda Free miers, but the arma embargo ques- tion was not raised.

No special plan was evolved and it is stated that Mr. MacDonald is going to Geneva to "take the tem- perature".

M. Daladier has decided to post-

farewell address to his men, and The purpose of the national Bill, providing cuts in the bonus pone his departure for Geneva. later took leave of his officers. bank holiday is to provide uni-

Leaving the Kent he proceeded formity of regulation in various Payments to war veterans whose dis- by car to Queen's Pier where he states and to prevent foreign raids abilities are not total nor directly

After A

Nationalisation Scheme

Berlin, To-day. Reichsbank shares dropped on rumours that the Hitler Govern ment intends to strengthen State control and even nationalize the banks.

Horr Luther's carly-resignation is expected in financial circles.—- Reuter.

CHANG LEAVES PEKING

Marshal Relinquishes. Office.

Peking, To-day,

authorities

at

one

of the

MORNING

CALL - OVER

FOR GRAND

NATIONAL

Golden Miller Sill

Favourite.

ALLUVIAL FAVOURED ́ ́FOR· LINCOLNSHIRE

London, To-day. Golden Miller has become aven a warmer: favourite for the Grand Na- –tional, during the last three days, {while Gragalach, a former – winter of the blue riband of steeplechase lias dropped from 100-8 to 100-9.

The French challenger, De- laneige, has commanded atten- tion and is now quoted at 38-1.

Alluvial has dropped to 19-2] One of Marahal Chang Hauch- for the Lincolnshire and looks lang's last official acts last night like being hot favourite by the Paris, Later. was to order the release of Beuter's day of the race, but he will be lengthy discussion special correspondent, who was ar-seriously challenged by Solenoid, traceable to the Service, also cuts to here with the French Premier, rested yesterday, from the hands of Glenarg and Dorigen, all of whom

are now quoted at 12-1. inspected a military guard of on American gold.

M. Daladier, the British Premier, the military

The following are the latest "The order covers all banking in-a maximum of 15 per cent, in the Mr. Ramsay MacDonald, and the Miyunhsien. honour and then embarked in the

call-overa:- Sir John At alitutions, building and loan asso-salaries of Government servants, Foreign Secretary, Green Barge for the Corfu.

This morning noon when the Corfu left port, the ciations and any business receiv-was introduced in the Senate yes-Simon, are proceeding to Geneva Marshal's Ford planes few over the Army fired a salute.

ing deposits in any form.

terday,

to-day.

city in a southward direction. Commodore E. McC. Wyndham

It forbids the paying out or ear- The Bill also reduces the salaries At the special request of the is believed that the plane carried the Lawrie called on Admiral Dreyer

British Ministers, M. Daladier Young Marshal-Reuter. followed shortly marking of funds now on deposit of Congressmen Gy G$1,500 to at 10.46 a.m.,

proposes to proceed to Geneva after by Major General O. C. Bar and also the exporting or trans- ferring in any way of currency rett, G.O.C. China Command.

early next week. — Reuter.

London Foreign Office of

Communique.

G$8,500

per annum.

Later Admiral Dreyer called on now held. Dealing in foreign ex- President Roosevelt has signed an order authorising the issue of His Excellency the Governor. Sir change or William Peel, K.B.E., K.C.M.G., und abroad are forbidden-Reuter and licences to member banks of the Fe-

returned the calls of the G.O.C., and Commodore.

At 12.30 His Excellency the Governor returned Admiral Dreyer's call, In the Kent.

The following compose Admiral Dreyer's staff

Capt. A. U. Willis, D.S.O. will command the Kent and also act as

Flag Captain.

Capt. Drew.

His will relieve

A.P.

transfer

[Continued on Page 4.)

London Stocks Steady.

credits

LIMITED BUSINESS WITH DEALERS HESITANT.

London, To-day.

Capt. G. P. Thompson, O,B.E., | The latest developments in the (Commodore, 2nd Class). Comdr. United States money crisis, which the extension of the D. N. C. Tufnell, D.S.C. (Staff includes Officer. (Intelligence),

and the contin- Afloat], bank holiday Lieut. Comdr. F. B. Tours (Flag uance of the embargo on gold ex-) Lieutenants. Pay. Comdr. II. M.ports and a request to Congress Horne (Secretary), Pay. Lieut.,by President Roosevelt for broad Mannin, F.R., Pay. Lieutenant M.powers to cope with the bud A. McMullen, Major C. T. Brown, getary situation, engaged close O.B.E., R.M.

attention on the London stock markets yesterday.

LOCAL CONSULAR APPOINTMENTS.

Sweden And Bolivia.

It was not expacted that New York banking facilities would be sufficiently resum- ed to permit exchange deal- ings in dollars before next

deral Reserve system to re-open if sound. The gold embargo remains strictly in force.

London. To-day. Conversations between the British

ANGLO-DANISH TRADE TALK Examination Of Plans

- Completed.

It

The Secretary of the Treasury, and Freach Ministers took place in

London, To-day. The Board of Trade announces Mr. William H. Woodin announces Paris yesterday morning and were

that a detalled examination of the that 12 Central Federal Reserve resumed in the afternoon. banks will reopen to-day.-Reuter.

At their conclusion, a communique various proposals put forward un was issued by the Foreign Office in behalf of the two Governments in London as follows:

connection with the commercial ne- "The Prime Minister and Sir John)

gotiations between Denmark, and Simon spent last night at the Bri-the United Kingdom has now been tish Embassy on their way to

completed, Geneva. They were very glad to

The Danish Finance Minister, avail themselves of an opportunity Mr. Bramanaes, and other members of renewing relations with the Pre- of the delegation, are leaving Lon sident of the Council, M. Daladier don to report to the Danish Govern- and Monsieur Paul Boncour, Forment

No Transactions On Wall St.

IMPOSSIBLE TO SECURE QUOTATIONS.

New York, To-day. Messrs. E. A. Pierce & Co. report that it is impossible to secure quotations until the re- strictions are removed. No transactions are taking place unofficially, either in silver fa tures or stocks.

It is expected that the banks will reopen on Monday,

eign Secretary with whom they ex- Discussions will be resumed in changed views upon the main London at an early data.--British economic and political questions now Wireless Service. calling for attention.

A

(Continued on Page 16.)

The total value of merchandise

| imported- into the United Kingdom In 1982, from Denmark, waS) £40,-

GRAND NATIONAL.

(To be run at Aintree

on March 24).

10-2 t and o Golden Miller, 100-9 t and o Gregalsch.

20-1 Annandale 25-1 t. 22-1 o Heartbreak Hill 25-1 £ 25-1 t and o Society. 831

Delaneige 40-1 £ 33-1 Colliery Brand 40—1 t. 88-10 Merriment 40-4 t

LINCOLNSHIRE.

(To be run at Lincoln

on March 22).

19 100 -

Alluvial 10-1 L Solenoid 12-1 £ 12-11 and o Glenarg, 12-1 Dorigen, -

18-10 Young Native 26--1′ £, 22-1 o Link Boy 25-1 t 25-1 o Tom Tit 28-1 t 25-1 t and o Amoya.

“UNDERGROUND”

THOUSANDS

PANIC IN

THE STREETS

Many Badly Injured By Falling Walls.

BUILDINGS SWAY -DURING EARTH TREMORS

Los Angeles, To-day.

The most severe earthquake experi- enced for many years shook the whole city at 5.55 a.m. (Pacific time) this morning. The tremor lasted for several minutes in a north to south

motion.

People groped for the nearest support while buildings of all sizes and strengths swayed dangerously.

The streets quick- ly filled with thou- sands of -- partic-· atricken people, and all traffic came to a standstill.

Several people were admitted hospital, critically injured by the fall- ing walls of the old Chamber of Com- merce. Reuter.

Fires Break Out.

Later.

Several are

now reported killed. Large fires have broken out in Los Angeles and Long Beach.

Five shocks followed the first one at 4 and 5 faute intervals, half an hour later. One hundred and fifty-six people were injured and are in hospital.

Onesperson was killed and many injured at Santa Anna.

Buildings...collapsed in various parts of the city and ambulances are busy in a large area.

Along the river side the shock was the most savere in 10 years. The quake was also felt with aimilar intensity at Pasadena, Santa Barbara, Glendals, San Ber

Hemet, San Pedro and Hollywood, -Heuter.

GROWS IN LONDON nardino, San Diego, San Jacinto,

New 24-Mile Section Opens On Monday,

London, To-day,

The second stage of the extension

The name of Mr. Lin Iku Hahu has 656,327. The United Kingdom ex-northwards sad westwards, of the been added to the Register of Medi-ports to Denmark during the same

cal Pmctitioners - entitled to practise Medicins in this Colony,

year amounted to £9,860,499;

-week. Dealing. in all otter Movers Handy and Haiman are Silver Purchase Plan In U.S.

currencies proceeded normal- ly,

Advice has been received from the Secretary of State for the Colonies that Mr. Einar Henrik Business on the Stock Ex-] Lindquist has been appointed Swe-change was limited with dealers dish Consul-General for Hong hesitant, but the markete finish- Kong, with realdence in Shanghaied with a steady appearance.

During the absence on leave of Mr. Carlos Henrique Basto, Honor- ary Consul for Bolivia, in Hong Kong, Mr. Antonio Hermenegildo Busto will be in charge of the Bolivian Consulate, ....

Excellency the Governor has red the Jurors Ldit to be brought fato use on April 1, 1988.

War loan 81% per cent, re- „mained unaltered at 991⁄4... Home rails were firm. Ger man bonds, after early do clines, Anished steadier. Gold mining shares register- ed gains, and Internationals were firmer, British Wire less Service.

Auburn Motora, on a 12-basis, their stock dividend. - -----

quoting New York cash silver, at 29-3/4,

International Affairs After Crisis.

which will be opened on Monday, Piccadilly Underground ‹ Railway, is part, of one of the biggest tran.

DOLLAR DROPS TO 1/4.

Decline In Silver Prices.

This lockt, Bollar was quoted at sport developsnents which have felt 1/4 thie morning, declining 3% on

lowed the phenomenal growth of yesterday's quotation, Greater London since the war,"

The first was opened

Bilver prices also showed a

Passed On To New Congress ber and to fall home in alight decline, spot dropping

Washington.

being given at 18-3/16 as against be completed in Jana, jo zadek |18-7/16 yesterday, while forward No further action has been taken mittee of the House of Representa- The section opening on Monday dropped from 18-9/16 to 18% this

carries the tube railway into the on the silver purchase bill, beyond tires and the Senate, the approval given it by the House The Bill referred to would direct rural district northwards from Fins morning. Washington reporta state that of Representatives Coinage Com the United States Treasury to pur-bury Park, through the artery Owing to the extended bank preliminiry conversations with mittes last month. All attempts to chase $250,000,000 worth of allver, from Houdslow in the Wet, to holiday in the US, no cross rates other Governments preparatory to pass the measure during the last against which it would laang allver North London.

London, To-day.

the World Economie Conference session of Congrass, were abandon- certibelted as legal tender. The It will be 24 miles long and wil

ordered that the next Criminal Bus-

will be commenced as soon as the ed. The bill must be re-introiased price at which the silver would be provide the longest underground His Honour the Chief Justies hai banking crisis in over-British during the present soution of Con- purchased would range from 40 railway in London-Britlak Wire-sions be held on Monday, March 20,

gross to be acted on by the

cents un ounce to 75 ontsa n onnos, lesa Servico. Wireless Service."

1983, at 10a.m.