1933-06-29 — Page 1

The dollar, on demand, closed

to-day at 1/4 12.

FINAL EDITIONS

EDFORTY

The British

TRUCK

HONG KONG HOTEL -

GARAGE.

Jong Kong & Shanghal": -

Hotels, Ltd,

orated in Hong Kong Boud. Happy Valley-

Economical 27-h.p. 6-cylinder engine -reducing vibra NOL, reducing engine-wear, reduc- ing

time-off-the- road, reducing ex- penses.

China Mail

Ert. 1845.

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

No. 28,455

HONG KONG, THURSDAY, JUNE 29, 1933.

PRICE $3.00 Per Month.

HIGH GRADE GENTLEMEN

OUTFITTING

AT HOME PRICES

BERNARDS OF HARWICH

CHATER ROAD,

FONG RONG

ONG KONG CHAMBER OF COMMERCE OPPOSES RISE IN SILVER

Wlan McGrath, the 17-. old Australian" tennis

:

ECONOMICS

MITTEE LIBERATES

GAR PROBLEM Jong Conference Expected.

TAIN OPPOSES CUBAN RESTRICTION PLAN

WIMBLEDON UPSETS

LEE BEATS

TWO - HANDED

AUSTRALIAN

U.S. Second String Win In Doubles. MARGARET SCRIVEN WINS

London, To-day. The defeat of Elsworth Vines and Keith Gledhill, the leading Ameri- can partnership, after they bad won the first two sets against Adrian Quist and Don Turnbull, and H.G.N. Lee's easy victory over Vivian Mc- Grath provided the big surprises of the third day's play at Wimbledon yesterday.

Miss Hern accomplished a praise- worthy feat by eliminating Mile. seeded Jedrejowska, Poland's

“WOULD DAMAGE

CHINA TRADE

JOINT RESOLUTION

WITH SHANGHAI

BOTH CHAMBERS CABLE TO WORLD ECONOMIC CONFERENCE

THE HONG KONG AND SHANGHAI CHAMBERS OF COM- MERCE AND THE CHINA ASSOCIATIONS IN THE TWO PORTS HAVE CABLED LONDON OPPOSING THE PROPOSALS TO ENHANCE THE VALUE OF SILVER

On June 16 the Shanghai British Chamber of Commerce and the China Association cabled the Monetary Committee of the World Economic Conference approving stability in silver but asserting that artificial rise in silver would prove disastrous to

China trade..

Following correspondence between Shanghai and Hong Kong, the following cable was dispatched from Hong Kong on June 27.

To the China Association, London.

"With reference to the silver resolution of the Federation of Cotton Spinners, the Hong Kong Chamber of Commerce and the China Association endorse the Shanghai cable."

player, in straight sets in the Second Round of the Women's champion- The following reply by the, LONDON VIEWS ship. All the other seeded players Shanghai Chamber of Commerce triumphed.

was sent to the Hong Kong Cham- Margaret Scriven of whom ber of Commerce on June 27. Sugar Committee of the Britain is expecting a great deal "Referring to your telegram of Economic Conference, com- after her dazzling display in the yesterday we entirely

London, To-day.

concur.

of delegates from the prin- French Championships at Aut This Chamber has already tele- gar producing countries and full, entered the Second Round

at the expense of h former cham- graphed on June 16 as follows: China, Japan and the Nepion in Mrs. Godfree, (nee Miss began deliberations yes Kitty McKane) another British afternoon after decung entrant. *** amate of Portugál as Chair:

Kathleen Stammers, another promising British player, also, entered the Third Bound.

The ceremony of Trooping the Colour on the King's Birth lay, took place on the Horse Guards Parade.The FareigsTM Attaches on their way to the ceremony. (S. & G.)

ANGLO-SOVIET TALKS CONTINUE AT FOREIGN OFFICE

Further Meeting To Follow Yesterday's Discussion

London, To-day.

M. Litvinoff, the Soviet For- eig Commissar called at the Foreign Office yesterday morning, and had a further interview with the Secretary for Foreign Affairs, Sir John Simon, and Colonel D. J. Colville, Parliamentary Secretary of Overase Trade-

"The Times" Advocates.

- Rise In Silver.

*London, To-day. The Shanghai (Chamber of Commerce; m— June 17, --de- Please forward the following!spatched a resolution to Lon- Committee, don regarding the fiver ques to the Monetary

Federation Chamber of tion, it is reveiled here-to-day.” Commerce D.O.T.

The Dimes this morning bublish" At a meeting of the jointed the telegrams, exchanged: be the British Chamber of committees of the British Cham-tween ber of Commerce and the China Commerce and the China Asso- Association held yesterday, the clations in London and Shanghai NAZIS WARN following resolution was pass-arising out of the resolution.

Conference is expected, to

America recorded a success several days before report when Helen Jacobs, last year's Economic Sub-Commission finalist beat Miss Saunders, but

Reuter.

edi Virginia Rice, who accompanied the Helen Wills-Moody across London Earlier, he Sugar Sub-Commission Atlantic was beaten in straight World Economic Confersets by her Continental rival.

France received a. setback when

and Marcel Bernard Andre Merlin were beaten in four sets by L. T. Stoeffen and Clifford Sutter, who are now America's hopes in the Men's Doubles.

yesterday: the Colonial ry, Sir Philip Cunliffe. supported the main ob the Cuban proposal, that, ing committee should ex the whole subject of inter-

limitation.

Itoh and Miki, the Japanese aces, also fell by the wayside, R. E. Avory and F. A. Wilde, two Bri- tish players, winning in convincing

manner.

A

resisted the propocal the construction of new ries should be forbid- and said that there were nistrative and legisin difficulties in the tariff G. P. Hughes, who caused sals in the Cuban fılan, surprise by beating T. Aoki for the Cuban delegate said that loss of only three games, won his servations destroyed the game with Helen Wills-Moody in it Sir Philip declared his, the Mixed Doubles. Betty Nuthall ss to co-operate heartily won her Second Round game in

rime objects.

ommittee of 22 countries] pointed. British Wire- tvice.

an Urges Wider

Free Trade.

London, To-day.

al conventions and multi-

straight sets

(Continued on Page 12). Latest results. as cabled by Reu- ter:

WOMEN'S SINGLES.

Second Round.

•

The Financial Editor of The Times outlining the effect of the That while stability in silver low price of silver since the war. would tend to improve trade, observes that the effect of the low any artificial stimulated rise in exchange on the value of China'a the price of silver, without

currency is causing China to in- corresponding increase in the creasingly industrialisa herself. price of world commodities, and that the danger of industrial. would seriously reduce China's competition from a country with export trade, restrict her pur-such a low standard of living is chasing capacity and cause seri-

difficulties ous financial

in China, leading to possible re- and pudiation of contracts, would be disastrous to China trade. f:

Please cable confirmation. (End of Shanghai message to London).

"Suggest you telegraph direct to London thus strenthening repre- sentations 'made by us.”

Mr. Shaw's Views.

The silver question was dis- cussed, in committee, at the annual meeting of the Hong Kong Chamber of Commerce held yesterday.

obvious.....

The paper advocates the re- habilitation of silver and con- tend's that a rise in the price. of silver by improving the standard of Heing in China will prevent such hot-house growth of industry, and, by in- creasing the Far Eastern purchasing power, would in- crease demand and thus raise

The conversations opened on Monday last are being carried on, and it is intended us have meeting this work, Brid icon Service.

CATHOLIC

POLITICIANS

Advised To Dissolve Voluntarily.

NO ROOM IN GERMANY- FOR CENTRE PARTY

Herr Goebbels Vigorous Speech

Berlin, To-day

In a vigorous speech at Stuttgart, yesterday, Herr. Goebbels Minister of Interior, advised the Catholic; Centre Farty to dissolve voluntarily if they wanted to avert action by

the prices of other com-- the German Government. modities, and

He declared, There is no room

Unless the outlet for silver

among western gold-using nations in Germany for the Centre Party is increased, however, there will any more, and we would do the be a check to the possible absorp

tion of silver by gold countries, Catholic Church a good service by

BRITISH COTTON INDUSTRY

Unable To Complete On Wage Basis.

PETITION TO STOP

· EXPLOITATION

London, To-day,

A Petition was yesterday presented in the House of Coca- mons by members of the Man- chester Royal Exchange, re- wesenting all branches of the cotton industry, asking the Government to prevent the ex ploitation of Empire markets by foreign nations who not only excluded British goods by high tariffs and quotas, but made it impossible for pro

ducers in this country to com- pete owing to the basis of wages paid, even though manu- facturers here were equipped with the most up-to-date ma- chinery and employed the most modern methods. Wireless Service.

US. TO

British

O SPEND $70,000,000 TO

BUY COTTON

2,000,000 Bales For Options.

FRANCE OFF GOLD?

FORECAST

IN RUMOUR IN

WALL STREET

Paris Financiers Pessimistic.

ABANDONMENT OF GOLD PREDICTED

is

New York, To-day.

Paris financiers see the abandon- ment of gold and

nk that a de valuized franc only a question of time, states a Reu- ter cable from Messrs. E. A. Pierce and Company, the prominent New York market brokers.

Irregularity was indicated on the New York Stock Market yesterday, industrials and utilities: declining 1.00 and 57 to 97.47 and 34.89. while rails and bonds advanced 12 and 10 to 47:19 and 85.94 res- pectively.

"Business"wan brisk. 5,410,000 shares being fade

pondents, Mosoru: "Asia /«Landa, Ltd state in their daily report:

"Trading opinions are very much mixed, with some trying to tie the Stock Markets to the Foreign ex- change situation and others are apprehensive over conditions in the

grain market, while still others are not liking the wide fluctuations in specialties other than for profit- taking. “Liquidations, at present, are of only negligible quantities.

Wheat: The, fallure to respond to the strength of foreign exchange is indicative of the teclinical weak- ness of this market. Sentinient ba- came mare two-sided in reporta that damage in the North-West area is not irreparable, ver

Cotton! After a higher opening

F.

values dipped sharply, uncovering

stop

orders. The trend for the

balance of the day was irregular inflienced by the weakmess of other markets. The weather, pist more. favourable.

Silver: The trade absorbed liquidation at the opening and when LOWER COTTON ACREAGE offerings increased Inter,

DESIRED

weikness developed in other mar- kets. Paris financiers son the abandonment of gold and think Washington, To-day. that a devaluised France is only. The Reconstruction Finance Cora question of time ****

hence the suggestion that a greater making the Centre Party disappear. poration has advanced G$70,000,-

The acting chairman (Mr. T. H. monetary use should be made of Our aim is the creation of a homo-000 to Mr. Henry C. Wallace Un-

Betty Nuthall (Britain) beat R. Shaw) has authorised the China silver by nations generally, Miss Thomas (Britain). 6-4, 6-2. | Mall to publish the following ex- Reuter.

Margaret Scriven (Britain) beat tract of his speech on the silver

geneous National Socialist Gerited States Secretary of Agriculture, to buy all the cotton now in the many.

Agrements to effect tarif Mrs. Godfree (Britain) 6-2, 1-6, 6-3, question: DOLLAR DECLINES The Government announce hands of the Ferment agencies, co

tions Instead of bi-lateral

nts were advocated by the

of Belgium, Norway and herlands in the Commercial Sub-Commission of the Economic Conference, yes

Jongation of the tariff and a return to the widest fe measures of free Were urged by the Japan- Begate-British Wireless

RESSMAN ALMON, OF

ALABAMA DIES

Washington.

Edward Berton- Almon,

of Alabama, sled here on

MEN'S DOUBLES

First Round.

L. J. Stoeffen and Clifford Sutter (U.S.A.) beat Marcel Bernard and Andre Merlin (France) 6-8, 2-6, 9-7, 6-4.

"The Far Eastern view is : that any measures towards improving the price of silver must be accom- panied by improvement in commo- dity prices.

TO 1/42.

Silver Prices Show Weakness.

"China's" purchaning power is

The local dollar has declined J.C. Gregory and T. H. Wilde primary dependent upon the volume opening on demand this morning at (Britain) beat H. Itoh and R. Miki of her export trade in regard to (Japan) 6-2, 6-0, 6-10, 8-11

MIXED DOUILES

Second Round.

GP. Haghes kid. Mra Moody beat EFE Avory Strawson (Britain) 6-2

(Other - Results – on

Ma

of heart disease at the 420 | The marriage

He was frst elected to Con-tweep Lieut

1815 being a member of the

erialature and a circuit

Wille

Miss

which a high level of silver-at--- 8llyar prices declined." Talightly suming a continuance of low com- yesterday following the sharp ad- modity prices in the world at large vance on Tuesd

the pot price

mead closing at 18°) would prove a great hindrance.

1644 19.1/16 %) on 21-Tu "China is a buyer of silver, not silver declined a similar seller. She can only buy foreign 19

the proceeds of her ex

higher pric

ment was expected as the im-and other Government es- portant Centre Catholic Party is timated as totalling about 2,000, now the only surviving rival 000 bales. organization to the Nazis. Its The cotton thus acquired will be early doom is foreshadowed.

(Continued on Page 4.)

250 DEAD IN SUMATRA

Caused.

By Earthquake.

the

TYPHOON NEARS

Warning Signal Up

This Afternoon. “

WEATHER FORECAST

The depression or typhoon has

used for granting ophout to pro-lentered the coast on a North for North-East track; less than ducers who agree to reduce their

100 miles West of Hong Kong. cotton acreage.

Clog US

vernment Scheme

The cotton and

cotton farmer to is, undergolog,» the administration.

in step with the

order

Beere

and equally weather and fresh South, and winds is forecasted report issued from bservatory

HongKong forg

at 10 was 0.88 inch