1933-04-28 — Page 1

The

new

BEDFORD

HONG TRUCK

THE

HONG KONG HOTEL

GARAGE

The dollar, on demand, closed

to-day at 1/4 12

FINAL EDITION

China Mail

T. 1845.

No. 28,402

THE OLDEST ESTABLISHED NEWSPAPER IN THE FAR EAST·

HONG KONG, FRIDAY, APRIL 28, 1933.

ROOSEVELT "OFFICIALLY"

Capl. Goering.

www

Est. 1845.

PRICE $3.00 Per Month.

GENTLEMEN'S HIGH GRADE OUTFITTING

AT HOME PRICES

BERNARDS OF HARWICH

CHATER ROAD;

HONG KONG.

EXPECTS JUNE WAR DEBT PAYMENTS

CURRENCY INFLATION FAVOURED

ENORMOUS

CONGRESS SUPPORT POWERS FOR FOR PRESIDENT

PRESIDENT

To Be Invested With WORLD TARIFFS TRUCE

Inflation Powers.

FEARS OF COLLAPSE AFTER PANIC BOOM

Washington, To-day. From the attitude of the Senate it is practically assured that the United States President will shortly be invested with power to inflate currency to a vast and unpredic- table extent.

STAHLHELM

MERGED WITH

NAZI PARTY By adopting the clause em- powering President Roosevelt to Submit To Hitler's

reduce the gold content of the Leadership. dollar up to 50 per cent. the Sen

ate has squashed the attempt of ARMED POLITICAL ARMIES

the conversations of both parties, NOW UNITED

led by Senator Carter Glass, to grant unprecedented powers to Berlin, To-day.

President Roosevelt. The head of the "Stahlhelm," President Von Hindenburg's "Steel- helmet" troops. Herr Franz Seldte, who is Minister of Labour in the' Hitler Government, has joined the Nazis, taking the "Stahlhelm" with him.

The announcement that he was joining the Nazis was made by Herr Seldte in a wireless broad- enst yesterday. He said that he'

Critics predict that the un- certainty of the extent of in- flation will undermine public confidence in the currency, produce a panic boom and then a collapse, but official circles argue that President Roosevelt may be trusted to use the enormous powers wisely. Reuter.

was submitting himself and the SILVER IRREGULAR

"Stahlhelm" to Chancellor Hit-! ler's leadership.

Those who refused to follow

1

IN NEW YORK

him would be released from the Market Business Shows membership oath.

1 taken

his

Decline. GREATER STRENGTH EXPECTED TO-MORROW.

New York, To-day. Silver felt the influences of

May selling on the New York Stock Market yesterday, trad- ing being heavy and irregular. General business on the market show big decline, only 1,880,000 shares being dealt in.

The step which has been long expected, was after a thorough purge of the "Stahlhelm" of opposition elements, including Lieut.- Col. Duelsterberg, Second-in- Command, who was dismiss- ed on Wednesday, and Major Wagner, Federal Chancellor of the "Stahlheim,” Capt. Goering, who during stay in Rome was informed of his appointment to the post of Prussian Premier, which he now holds con- currently with the posts of Minister Without Portfolio and the Speaker In their daily report, Messrs. of the Reichstag has been formally E. A. Pierce and Company, through installed in his new office, replacing their local Correspondents, Messra, thereby Herr von Papen, who up to Asia Lands, Ltd., atate: "It appears. now acted as Reichs commissary for that the theory that the market will Prussia.

go through a period of consolida Vice-Chancellor von Papan will tion and relative Inaction; inatend devote himself henceforth exclusive of running into a sharp break, is ly to the duties of right-hand man becoming better defined.

A

of the Chancellor and as the repre- "We expect a greater strength to sentative of the Government at in-develop to-morrow. Wheat was ternational meetings and confer-nervous and technically over

bought. Crop news is better.

ence,

ed circles to the effect that the

The rumours spread, by interest- "Cotton trade was absorbed by existence of the Government in its Southern sales and there is a dis present form was endangered and position to await developments. that the remaining in the Cabinet The market closed stendy."

PROPOSED

"

"ENORMOUS PROGRESS REPORTED IN FRANCO – AMERICAN DISCUSSIONS

WASHINGTON, TO-DAY.

THOUGH IT IS CONFIRMED THAT PRESIDENT ROOSE. VELT IS EXPECTED TO PROPOSE IN CONGRESS, A WAR DEBT MORATORIUM, TO BE IN FORCE UNTIL AFTER THE WORLD ECONOMIC CONFERENCE WHICH OPENS IN LON- DON ON JUNE 12, A DECLARATION MADE FROM THE WHITE HOUSE SHOWS THAT “OFFICIALLY," THE PRESI- DENT EXPECTS THE JUNE WAR DEBT PAYMENTS TO BE

MADE.

A spokesman emphasised that no agreement for postpone- ment had been made, but it was indicated that some adjustment might be worked out after further conversations with debtors. It is significant that Mr. Henry Rainey, Speaker of the House of Representatives, commenting on the proposal, declared that al- though personally he was opposed to the moratorium, he would support any request regarding war debts, made by the President,

The State Department has indicated that a World Tariffs Truce, pending the convening of the World Economic Conference in London on June 12, is being considered.

PEACE TERMS

REPORT DENIED

BY NANKING

Fantastic And Beyond

Belief.

“DETERMINED TO CONTINUE RESISTANCE"

Nanking, To-day.

A Foreign Office spokesman to- day categorically denied the report published by the London "Daily Express" of alleged Sino-Japanese [peace terms.

The skeleton of the burnt-out Imperial Airways liner, City of The spokesman said the report Liverpool, which crashed at Essen, Belgium, on March 268, resulting was so fantastic that it was beyond in the loss of 15 lives. The machine was flying from Cologne to belief that anyone could give it Croydon at the time of the disaster, with 12 passengers.—(S. & G.) serious consideration.

DEATH OF

AIR CHIEF

MARSHAL

Sir Geoffrey Salmond's

Fatal Illness.

LONG R. A. F. CAREER OF GREAT DISTINCTION

London, To-day..

The death occurred yesterday, of Air Chief Marshall Sir Geoffrey Sal-

The United States is favourably inclined to the truce. AT THE CONCLUSION OF THE, FRANCO-AMERICAN CONVERSATIONS, M. HERRIOT, THE FRENCH DELEGATE, - DECLARED THAT PRESIDENT ROOSEVELT AND HE HAD ACCOMPLISHED "ENORMOUS PROGRESS IN PREPARATION mond, K.C.B., KC,M.G.. C.B., C.M.G. FOR THE WORLD ECONOMIC CONFERENCE REUTER.

U.S. Policy Outlined.

ATTITUDE TO WORLD'S MAIN ECONOMIC PROBLEMS.

Washington.

The American position on tho most outstanding subjects was out-

cles as follows:

ned to-day in well-informed cir-

Will Seek Debt. Moratorium.

France will ask the United States for a moratorium on the forthcoming instalment of the war debt.

M. Herriot will seek such

д

D.5.0., Chief of Air Staff. He had been lying gravely ill for the last few weeks in the King Edward VII. Hospital for officers in London.

Sir Geoffrey who was in his 65th year, succeeded his younger brother, Air Chief Marshal Sir John Salmond, as Chief of Air

ia Staff on April 1, this year, but three days later it was announced

1. War debts. The administra-moratorium, hoping that if he tion is committed against cancella- successful he can persuade the tion of these obligations totalling chamber of deputies to pay the $19,- that owing to his-serious illness nearly $12,000,000,000 by the Demo 261,432 to the United States which France last cratic party platform, but is not was defaulted by

December, thus committed against postpone- ment of reduction, although such action would require congressional June. ⠀ approval.

President Roosevelt.

The administration has drawn a of the Ministers of the National Bond averages advanced 53 to distinction between the nations People's Party was only a matter of 76.20, but Industrial, rail and utility which have met the payments due a few days. or, at the most, weeks, Averages declined 93, 88 and 19 to last December, such as Great Bri are vigorously denied by the press 71.71, 30.34 and 23.58 respectively, tain, and those which have not department of the National People's Reuter. Party-Reuter and Kuo Min.

BRITISH FUNDS

CLOSE FIRM.

Stock Exchange Displays Strength

LOCAL DOLLAR ADVANCES.

Silver Prices Recover

notably France.

2 Currency stabilization. Thi is regarded internationally as well as by the administration as a fun damental in the revival of world trade. The United States is ready

to join in efforts to establish a re- yived international standard - to. which the various national curren sim cies would be attached at new parl-

The local dollar advanced 1⁄4, this morning, to 1/4347004

Silver has again rallied, spot ties London, To-day,silver from 184, yesterday, to "0 Mr. Roosevelt's gold embargo or When the Stock Exchange clos-8/10, this morning, and forward der taking the United States off the gold standard for the time being,

ed yesterday British funds were from 18 3/16 to 204

firm with War, loan.31⁄2 per cent | Cross - rata - prices. were this puts the adr nistr

at 100-9/16

[morning, E-C$3.727

und

*Kadirs, were higher, and Argen-| G48,72, for the London" on time railways" strengthened on the York, and New York on news of the Anglo-Argentine tande rates, respectively, he com agreement-British Wireless Ber- with G48.79% for both ratan,

yesterday:

tegic pos

ent on t

A similar payment is due ini

Press Herriot told the United that he desires to do his utmost to facilitate the task of President Franklin D. Roosevelt in solving America's monetary perplexities.

He said experts agreed there was no reason why the dollar should not be stabilized in, a reasonably shart time.

his brother was temporarily to resume those duties.

Sir Geoffrey's career in the Air Force was one of great distinction. He had origin. ally entered the Royal Artil lery and served in the South African War, Includ- ing the stege of Ladysmith, and in the Boxer Rising in China.

ANGLO-ARGENTINE TRADE TREATY TO BE SIGNED Agreement Reached On All Points Of Principle

London, To-day.

The President of the Board of Trade, Mr. Walter Runciman, yes- terday announced in the House of Commons, that an agreement on all points of principle had just been reached with the Argentine Republic. The treaty was now being drafted and was expected to belgned within the next few nys: Anglo-Danish commercial agreement was signed at the For- Office on Monday British, Wireless, Service.......

days.

BRITAIN'S TRADE

WITH GERMANY

New Commercial Agreement Published.

TONS OF BRITISH COAL MONTHLY MARKET FOR 180,000

He added that the - Chinese Government was determined to continue resistance against further Invasion-Reuter.

Japanese Troops At Harbin.

THREE REGIMENTS DUE.

Harbin

It is reported; that about three Japanese regiments are due here to-day from Jehol.

Seven Japanese fighting 'planes arrived yesterday. Their destina». tion is unknown.-Reuter. JAPANESE WIRENS STATION AT HANKOW.

Nanking To-day.% The Foreign Office has protested: to the Japanese authorities against

the erection of a wireless station Japanese marines at Hankow,

Reuter..

Sinkiang Governor's Flight.

M

ESCAPES MOHAMMEDAN INSURGENTS.

Nanking, To-day, London, To-day.

The Governor of Sinklang, King Under the Anglo-German trade Shu-jen, fled safely from Tihus be- agreement published yesterday, fore the city was occupied by the Germany has agreed to take a mini- Mohammedan insurgents, according mum of 180,000 tons of British to official reports.

coal monthly, in retura for tariff It is stated that peace and order concessions on a number of articles prevail in Tihua Reuter. comprising toys, musical instru-LESSON TAUGHT ments, clocks, jewellery, hollow

He took a pilot's certificate in micals.

"

ware, safety razor blades and che TO CHINESE

Japanese Now Withdraw To The Great Wall.

January, 1913, a few months The agreement operates from The French statesman, expressed after his younger brother and May 8. the opinion that America and Great transferred to the Royal Flying Britain would agree on the advis-

(Continued on Page 12.)

ability of an equal rate for stabiliza-Corps. tion of the dollar and the sterling... M. Herriot said if there was any controversy on this point he hoped he night serve as a pescemaker, and prevent "a depression of cur- rency war between the two English-

LORD INCHCAPE TO MARRY,

speaking nations that would have Shipping Magnate's Engagement Report.

France isolated atop her gold bags.

London, To-day.

TOKYO TO PARIS The announcement of the en-

FLIGHT

A White Paper issued last night gives the terms of the Anglo-German commercial rela tions agreement on which the The War Office states that all. House of Commons' resolution Japanese troops to the cast of the will be taken on Monday,

Luan River have withdrawn to the

The Government in the United Kingdom will undertake that Great Wall, as it is considered that German articles on the schedule the Chinese troops in that area have attached, shall not be subjected learned a lesson and are not likely to duties higher than those spe to attempt a fresh onslau cified, în return for which the Reuter German Government will secure firstly, that licences be issued for the importation of not less than

GRAF ZEPPELIN FLIGHTS.

gagement is impending between 180,000 tons of Britishcoal Lord Inchcape and Miss Leonora monthly, and that secondly, I

the total coal, coal briquettes Atlantic Service Resumes Mlle. Hilz Lands At Brooke, eldest daughter of H.H. and coke consumption of Ger

Shanghai.

DUE HERE TO MORROW:

Shanghai, To-day,

Sir Charles Vyner Brooke, G.C.M.G, many exceeds by one per cent. Rajah of Sarawak-Reuter. 7,500,000 tons in any month, Kenneth Mackay, second Earl of licences shall be issued for the |Inchespe, is 45 years of age. He was (Continued on Page 12.)

married, tothe youngest daughter of | the Inta Lord Fustice Moriarty in 1918,

SPANISH PREMIER TO |from whom" be' obtained; a", doerse öf divorce. In 193270 He has three sons

VISIT PARIS

Lord Inchcape served with the 12th

Langcos, and the M.G,C," (Cavalry) The Spanish Premier,

from 1914 to 1019: He-la a; partner.

Mackinson, Mackenzie and Azane, will, according to

Mouars, Magdonaldports Sydney and Mesura, Gray, nr. Daw and Company, London and h

to: director of the P0. Steamship

Company Massra, Wes. Dory and Sons by M. Herrlot, then and the Marine Insurance Company last year --Kuo Min.

On May 6.

Berlin

The Graf Zeppelin will, Ing to an announcement. day by the Zeppelin Works, rOBUNAG its regular Europe-Bouth America service on May 6

In addition to these tran

tle flights there are schedu

cruises over Switzerland

In July, theru t over Brain with speciali