1933-04-20 — Page 1

BEDFORD

MADE E ENGLANO

THE HONG KONG HOTEL

GARAGE.

The Hong Kong & Shanghai Hotels, Ltd..

The British

TRUCK

Incorporated in Hong Kong. Stubbs Road. Happy Valley.

Economical 27-h.p. 6-cylinder engine reducing Vibra- Hon, reducing engine-wear, reduc. log time-off-the-

road, reducing ex- PRIECE.

dollar, on demand, closed

to-day at 1/3 5-8.

FINAL EDITION

China Mail

THE OLDEST-ESTABLISHED NEWSPAPER IN THE FAR EAST

Est. 1845.

Isat, 1845,

No. 28,395

HONG KONG, THURSDAY, APRIL 20, 1933. PRICE $3.00 Per Month.

ZAMBRENE WEATHERPROOFS

AFF

Superior.

BERNARDS OF HARWICH

Outfitters

CHATER ROAD,

HONG KONG.

AMERICA HAS GONE OFF GOLD STANDARD-EMBARGO RESTORED

SENTENCES

LIKELY TO BE

COMMUTED

Soviet May Grant Petition.

LIFE BANISHMENT INSTEAD OF PRISON TERMS

Moscow, To-day. M. Braude, counsel for Mri |

Charles Thornton in the trial of the six Metropolitan Vickers British employees which ended yesterday. has presented a petition to the So- viet Central Committee asking for the commutation of the respective sentences of three years' and twp years' imprisonment on Thorntop. and W. Macdonald.

Mr. Alan Monkhouse.

It is expected that the petition will be granted and the imprisonment terms com- muted to life banishment.

Messrs. Alan Monkhouse, Charles Nordwall, John Cushny, who were ordered to leave the country within three days, left Moscow, to- gether with A. W. Gregory, last night. Reuter. New Zealand Support. For Britain.

SOVIET BOYCOTT BEING CONSIDERED,

Wellington, To-day. Mr. G. W. Forbes, the Prime Minister, declared to day that the New Zealand Government is immediately considering the prohibition of Russian imports. — Reu-

ter.

Moscow Fears Result

www.m

Of-Boycott.

Moscow, To-day.

PRESIDENT SUPPORTS

INFLATION MOVE

Mr. Roosevelt Said To Sanction Farm Bill Amendment

拳

Washington, To-day.

It is understood that President Roosevelt has sanctioned the Amendment to the Farm Bill. In consequence, the prospects of the Amendment being passed are con- sidered very bright-Reuter.

SILVER BOOMS ON WALL STREET

Industrials Soar In New York.

ABNORMAL TRADING FOLLOWS WASHINGTON NEWS

New York, To-day.

WAR DEBT PAYMENT IN SILVER

INFLATION PROPOSALS

BY SENATORS

MR. MACDONALD ARRIVES TOMORROW FOR ROOSEVELT CONFERENCE

WASHINGTON, TO-DAY,

THE UNITED STATES HAS GONE OFF THE GOLD STAN- DARD ACCORDING TO A STATEMENT MADE BY MR.WIL- LIAM H. WOODIN, SECRETARY OF THE UNITED STATES TREASURY. YESTERDAY, INTERPRETING PRESIDENT ROOSEVELT'S ANNOUNCEMENT OF THE RESTORATION OF THE GOLD EMBARGO.

--Mr. Woodin said that regulations would be issued to permit the export of gold already earmarked,

Although the Senate yesterday defeated a Bill proposing remone- tization of silver at a ratio of 16 to 1 to gold, advocates of the var On the New York Stock Ex-ious silver schemes are still optimistic. Legislation will be introduced change yesterday silver advanced into Congress, probably to-day, giving President Roosevelt dictatorial the three cent limit permitted by

powers regarding inflation. the Metal Exchange, and a general rally occurred in Stock prices fol lowing news from Washington.

Messrs. E. A. Pierce and Com pany, through their local corres- pendents,. Messrs. Asia Lands, Ltd,,|

state:

"Stocks advanced on dispatches from Washington quoting President Roosevelt as saying that altempts to stabilise the American gold 'dollar }have been - abandoned until other; nations with deflated currency re. turned to the gold standard.

"We think that advanced in- dustrials will meet with stern- er opposition around the "70" level of the Dow Jones aver- ages. Inflation was the sole market factor.

RIVES IN THE UNITED STATES TO-MORROW AND WILL THE BRITISH PREMIER, MR. RAMSAY MacDONALD AR-

IMMEDIATELY PROCEED TO THE WHITE HOUSE TO IN- AUGURATE WITH PRESIDENT ROOSEVELT THE SERIES OF INFORMAL CONFERENCES ARRANGED BETWEEN THE PRESIDENT AND THE REPRESENTATIVES OF THE LEAD ING POWERS.

Inflation Dictatorship For President. BENATORS AMENDMENT TO

* FARM. BILL

Washington, To-day.

Scenes at the hoisting of the Nazi flag on the roof of the Ministry of Interior in the Unter Den Linden, Berlin-A strik- ing picture showing the huge crowd saluting the Nazi flag in Fascist style when it was holsted on the roof,—(S,^& G.)

EX - KAISER'S

GRANDSON

TO MARRY Will Bar His Accession To Throne.

GERMAN ROYALIST PLANS CHECKED

JAPAN AND DUTCH EAST INDIES

“Dangerous Interest" Of Tokyo.

SOCIALIST'S ALLEGATIONS

THE HAGUE

BANDITS

SET FIRE TO

CER. TRAIN

A Second Train Derailed,

SEVERAL PASSENGERS KILLED BY MURDEROUS FIRE

Japanese Warning To Intending Strikers

Harbin, To-day. Bandits set fire to and destroyed the huge timber-yards at Tigrova- Tapad, fifteen miles north of Shih- towhatze.

Bandits also derailed a train, lat-

er pouring a murderens fire' into the carriages, as a result of which several passengers were killed and many wounded.

Later.

The Japanese commander of the Manchukuo frontier guards at Suifenho has issued a proclamation declaring that ring-leaders and AT participants in any strike intended to dislocate the services on the Chinese Eastern Railway, will be. severely punished-Reuter.

Anti-Manchukuo Troops Mass.

THREAT OF ENCOUNTER IN FAST-MANCHURIA.

The Hague, To-day. !, Amsterdam, To-day. An allegation that Japan is tak- President Roosevelt has

Ex-Kaiser Wilhelm is reported to jing a dangerous interest in the announced the restoration of

be most aggrieved at the report of Dutch-East Indies was yesterday the gold embargo.

the betrothal of Prince Wilhelm made by the Socialist member, M. The recent United States em

Frederick, eldest son of the Crown Mendel, in the Upper Chamber bargo on gold which came into

Prince and his favourite grandchild, during a discussion on the East In- operation on March 6, was

to Dorothy Von Salvaiti, a descenties Budget.

Harbin, To-day": dant of an old aristocratic Italian M. Mendels called attention to threatened in East Manchuria, Another sanguinary encounter is lifted by a Presidential order on

The payment of the war debt family who migrated to Prussia at Japan's need of oil for warships where anti-Manchukua troops are April 5. The order, however, de-instalments in silver,, under certain the time of Frederick the Great.

and also. her desire to create massing with the object of attack- manded the licensing of the issue conditions, will be possible if the

Prince Wilhelm has thus settlements in New Guinea. Ing Tungning, a town near the of gold in industrial and trade amendment to the United States broken the rule of the Hohen- The Colonial Minister, M. De Soviet border, 25 miles to the south "Cotton, silver and wheat advanc- transactions, and forbid indivi-Farm Bill, drafted by Senator zollerns not to marry "below Graaff replied that the Govern- of Sulfenko, the Eastern terminus jed sharply to-day on successive duals, under heavy penalties, to Thomas and the Administration ad Kaiser was not asked to consent laws, however, applied to Japan Reuter.

rank." Apparently the ex-ment was vigilant. The same of the Chinese. Eastern Railway. waves of general buying end profit-retain gold in excess of G$100 taking was absorbed with ease after May 1.

viser for approval by President to the mesalliance, which will as to other countries. Silver advanced by the three cent

Roosevelt, is accepted.

bar Prince Wilhelm's accession limit permitted by the Metal Ex- The embargo gives the Na-

On the question of rubber re- tional Government absolute con Roosevelt broad powers to inflate

The amendment gives President to the German throne.

striction, the Minister said that That Prince Wilhelm

the problem was an international Business showed an abnormal in-trol of the nation's gold supply currency, and besides permitting should eventually accede to ercast, 5,090,000 shares being dealt and places an embargo on gold him to issue currency at; his own

one, and only when a definite re- the throne is believed to have solution was taken by, those con- exports and prohibits the ear-discretion, the measure could pro-

been the ex-Kaiser's secret tions. Beuter. marking of gold for foreign navide for the acceptance of silver

cerned, could the Government hope.

consider the practicability of the for war debt payments. ¿

Monarchical Germans are report-schemes submitted to it--Reuter. ed to be well agreed on a plan to bridge the expected transition to a monarchy by naming Karl Edward, Duke of Saxe-Coburg-Gotha as re- gent...

(Continued on Page 12.) DOLLAR RECOVERS

TO 1/3% Silver And Pound Values Show Big Advance.

change."

in.

Industrial averages advanced 5.66 to 68.31, while rails went forward) 1.47 to 27.59. Utilities Improved i 25 to 21.24, but bonds declined 40

to 73.76.-Reuter.

BUDGET WILL BE BALANCED..

U.S. Leader Announces Economy Cuts.

U.S. To Stress Gold Standard Restoration.

The amendment further provide for the reduction of the gold con tent dollar by international agree ment or otherwise.

Early restoration of a free in- ternational gold standard will be: emphasized by the United States as of primary importance in the forth-

coming conversations here, to which

virtually all eleven picked na tions invited have agreed to send outstanding statesmen.

Washington, Later, Legislation is to be intro- duced into the United States Congress, probably to-day giv- Ing President Roosevelt virtual- currency" Inflation dictatorship. -Reuter

› Canada's Scheme.

The announcement that early re- Washington.storation of the gold standard by Senator Joseph T. Robinson, leading nations would be stressed GOLD AT $30 PER FINE OUNCE.

Ottawa.

CUMBENT DUE

ON MONDAY,

NEW JAPANESE RAILWAY

Korean Line Linking Kirin And Kanei,

MILITARY AND COMMERCIAL VALUE

Tokyo, To-day, One of the most important links Warship Movements, in the Japanese system of communi-

cations was forged with the com H.M. Ships Vindictive and pletion, to-day, of the line connect- Colony on Sunday next. The two the Kanei Railway on the Korean Curacos ato due to arrive in the ing the Kirm-Tunghua Railway with vessels are engaged in trooping. border.

H.M,S. Cumberland, which has From a military and com-

Following its decline to 1/814 been refitted and recommissioned, is yesterday, morning, the dollar, again now returning to her station on the rallied and opened to-day at 1/854 China Const, and is due here

Silver showed greater strength Monday.

U.S. PAYMASTER GENERAL

Washington.

mercial standpoint the new line is of immense importance as It. will tap potential markets for Japanese goods and, in the event of another Busso-Japanese war, will enable Japan to rush troops to North Manchuria by a faster and safer route than any at pre- sent existing, Reuter,

A serious result of the British Democratic floor leader, defend further increased the scope of the embargo is anticipated here, asing the administration against conversations arranged by President it is claimed that the Soviet can attacks by Senator Huey P. Long Roosevelt. Only the United States

It was learned here that Premier meet the obligations of other and others, declared to-day that and France among the chief trad. Richard B. Bennett of Canada will yesterday, both spot and forward countries only by means of the President Franklin D. Roosevelt ing nations of the world remain on discuss with President Franklin D. prices advancing 7/16 to 18% and revenue obtained from her fa- has cut $1,000,000,000 from gov a gold basis, and gold shipments Roosevelt of the United States 18 7/16 respectively. vourable trade balance with Bri-ernmental expenses. tain.

from this country have been under proposal for the revaluation of Found sterling value in relation Reuter.

"Already there is assurance restriction since Mr. Roosevelt's sold at not less than $80.00 per fine to the gold dollar shoyed a remark that the budget will be balanced," promulgation of an emergency de-ounce, abla advance, the London on New Rear Admiral Christian Joy Robinson said.

free to meet the banking situation This, it was pointed out would York cross rate improving from Peoples was nominated by Presl produce an immediate international & G$3.47% to $8.55%, while dent Franklin D. Roosevelt to-day inflation of at least 55 per cent the New York on London rate is as paymaster general and chief of Tariffs To Come Up sgainst the dollar, and would In-quoted this morning at G18.71 the bureau of supply and accounts Compradore Of H.K. And in September, 1981, and Japan later Canadian gold holdings by the

Great Britain went off gold" crease the value of American and as against 4--G$8.61% yesterday, for the U, B. navy R followed, the currencies of both de-sama ratio.

LONDON OPINION

ON EMBARGO Welcomed By Majority Of Press.

“DEPORTEES” LIBERTY WON

BY PARLIAMENT

London,

The embargo on Russian Importa ́ ́ls welcomed: in the morning new here, excepting thre

The News Chronicle

the embargo to be aponyons likely

trade 48

Herald

it will make it harder.

Soviet to do under foreign threat, that which she may

of her own free will,

The "Financial News" declares it a "hasty step."

The Times ridiculing the trial as a farce and a mockery of justice, says that there is little doubt, that the deportees, own their liberty to the British Parliament's move in passing the Import Prohibition Act, zuz Yesterday's proclamation, the newspaper

Coven Bövlet

they are do

the trade, with Britain.

last month,

clining in value in terms of others, The proj will also be dis New Governor General Expects

and putting at a disadvantage in cussed at the World Economic Con International trade the countries

formerly exporting to these, as well as generally disrupting - former trade relatio

Work

virtually of the

ex

INISTER RESIGNS

the

To Depart For Manila In May

$479,000 ESTATE.

Whampoa Dock Coy:

Probate in the goods of the late Lo Chung-kue, alles, Lo Tak-y) |of 97, Caine, Road,, compradore

Kong Whose estab

Consens son of United States Senator the

Biday, confirmed last month as Vice ernor, who has been Acting Our

General ainen the

March 16 of Mr. Tigodoy

The Detroiter also will hava Hinetion of being the Phil

alor Governor