1933-07-20 — Page 1

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The dollar, on demand

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GENTLEMEN'S OUT

HONG KONG, THURSDAY, JULY 20,

1933. PRICE $3.00 Per Month.

ANXIETY IN BRITAIN AT EFFECT OF LOW U.S. DOLLAR ON TARIFFS

HEAVYWEIGHT

SUSPENDED FOR

SIX MONTHS Sequel To Doyle's Foul

On Petersen.

TO RECEIVE £10 A WEEK FROM PRIZE MONEY

London, To-day. Jack Doyle, contender for the British Heavyweight boxing cham- pionship, has been suspended for six months as the result of fouling

Jack Petersen in the second round of the title fight staged at the White City before 60,000 on July 12.

NEW BRITISH SPEED BOAT RECORD FOR CHANNEL

Ex-Naval Officer Smashes Kaye Don's Time With Double Trip.

London, To-day.

Mr. Angus Miller, an ex-Naval officer, made a double crussing of the English Channel from Dover, yesterday, in his speedboat, "White Cloud" in 1 hour, 45 seconds, thus breaking the record of G5 minutes set up by Kaye Don -British Wireless Service,

MASONIC PEACE MEMORIAL

FURTHER SAFEGUARD

URGED

RESOLUTION TABLED BY

CONSERVATIVES

ROOSEVELT STILL OPPOSED TO CURRENCY STABILISATION

LONDON, TO-DAY.

APPREHENSIVE OF THE EFFECT OF THE “DELIBER- ATE" DEVALUATION OF THE AMERICAN DOLLAR ON BRITISH TARIFFS, CONSERVATIVE MEMBERS OF THE HOUSE OF COMMONS YESTERDAY TABLED A RESOLU- MEASURE OF SAFEGUARD WHERE EXISTING BENEFITS MAY BE ELIMINATED BY EXCHANGE DIFFERENCES. REUTER.

M. Litvinoff (full face), Commissar, for Foreign Affairs and Chairman of the Soviet delegation, leaving a session of the World Economic Conference.(S. & G.)

This was the decision of the £1,000,000 Headquarters TION URGING THE GOVERNMENT TO GIVE A FURTHER NAZIS

administrative stewards of the

British Boxing Board of Control

at

the enquiry held yesterday.

In London.

Doyle's license has now been sus-6,000 BRETHREN AT OPENING

pended for six months, dating from yesterday.

The Stewards have fur- ther decided that Doyle will reccive £5 a week for six months and his mother will also rceive the same amount over the same period. The balance of the purse money (£5,000) will be forfeited.

London. To-day. The magnificent new headquar ters of English Freemasonry were opened yesterday by H. R. H. the Duke of Connaught, Grand Master, in the presence of 6.000 brethren from all parts of the world.

The method of dealing with The building, which was erected the balance will be left to the dis-as the Masonic Peace Memorial, cretion of the general joint, com-cost £1,000,000 and has 17 Lodge mittee of the Board of Control. Rooms. Reuter. -Reuter.

(Continued on Page 12).

MINOR RIOT IN PLAYERS 278 FOR

U.S. BASEBALL Reversed Decision In Giants-Pirates Game.

YANKEES BEATEN

New York, To-day.

(Continued on Paga 4.) · Results as cabled by Reuter: National League.

New York, To-day.

9 AT LORD'S Ames And Langridge In Big Stand.

London, To-day.

Washington, To-day.

Despite the drop in the United States dollar in London below its old parity with sterling, it is believed in well-informed circles that President Roosevelt still considers that any stabilisation at present would check the rise in prices in the United States.

The weakness of the dollar is attributed largely to speculation in a thin market and to forward purchases of foreign exchanges by American importers who are anxious to protect themselves from further slump.-Reuter,

BRITISH DEBT TO AMERICA. $250,000,000 Loan.

BOND EXCHANGE MAY HALYE INTEREST.

مصيب

London, To-day.

As a sequel to the United States

going off gold, the British Treasury is offering to exchange $136,000,000 20-year, 61⁄2 per cent gold bonds, outstanding from the loan

of

A

STOCKS SLUMP ON WALL STREET Sensational Day's Trading.

SPECULATION TO BE CHECKED

A

New York, To-day. Stock was swept overboard in deluge of selling on Wall Street, yes- terday, of recently bouyant wet

EXPELLED FROM HOLLAND

EMPIRE TRANS-ATLANTIC

SERVICE PLANS

LEAGUE

ASSEMBLY

POSTPONED

Disarmament And Economic Delays.

MEETING ON SEPT. 25

London, To-day.

The annual meeting of the League Assembly, due to begin on September 4, has been postponed until September 25.

The secretariat decided on this step after consultations with the Governments partly because of the continuation of the World Econ- AIR omic Conference until July 27 and partly to give time for the develop- ment of the negotiations upon

Organisations To Be Britain Confers With Canada And which the President of Disarma-

Dissolved.

The Hague, To-day. All German Nazi organ- isations in Holland are to be dissolved by order of the Ministry of Justice.

The Nazi leader, Herr Tyfkens, who has been expelled from the his country, has established headquarters at Afx-la-Chapelle on the other side of the border.- Reuter. Communists Active In, Germany,

Berlin, To-day. Communist activity through- out the country is reported by the German police.........

The discovery of rifles and ammunition in a deserted mine at

The

Newfoundland

London, To-day.

Under. Parliamentary

Secretary for Alz, Sir Philip Sas son, stated in the House of Com- mons, yesterday, that represents- tives of the Governments in the United Kingdom, Canada and Newfoundland had beci confer- ring on certain general questions affecting the possible future or- ganization Air services to and from Newfoundland.

He was was not in a position to detailed informa- give any more tion at this stage, but to prevent any misunderstanding he had bet ter perhaps emphasize that" no concrete scheme for a trans-At- lantic service was at present under discussion British Wireless Ser- vice.

Thuringie and of bombs and ex-AIR plosives in the neighbourhood of Dresden, was made yesterday.

A number of arrests, including 22 people at Rinteln, Hanover, fal lowed an exchange of revolver

A prolific scoring partnership by Leslie Ames, the Kent stump G$250,000,000 raised by the British issues which at one time suffered shots in which a policeman and se

Other groups dropped two to

If the offer is fully accepted, the weak.

The day's total turnover WAI v.result will be to increase the prin-

cipal from £28,000,000 to £35,000,000 (7,463,000 shares the largest total but to reduce the intercat from (since May, 1990. £1,540,000 to £886,000 per year.- The break is ascribed, firstly, to Reuter.

reports that the leading bankers

veral Communists were severly wounded.-Reuter.

PILOTS

Bodies Of Lithuanian Airmen Landed, POSTHUMOUS AWARDS

Kovno, To-day.

ment Conference, Mr. Arthur Hen- derson, is engaged.

The League Council will meet on September 22-British Wireless Service.

Draft Silver Resolution.

MINOR RECOMMENDATIONS TO GOVERNMENTS.

London, To-day. -

silver The draft" resolutions an have been unanimously adopted by the Economic Conference Sub- Committee, who make the fellow- fag gecommendations to all Gov. ments parties to the World Econo- ·

ARMADA AThe Conference NEW YORK Great Welcome From Italian Residents.

New York To-day. The Italian air Armada of 24 flying boats led by Gen- Minister, arrived here yes- terday evening from Chi- Wild scenes of en- cago. thusiasm were witnessed as thousands thronged the streets to welcome the fly. era. Reuter,

During their stay in New York, the airmen will fill a crowd- ed programme, the first official

A crowd of 50,000, including Ca-function being a dinner given by

Firstly, that an agreement,” be brought between the chief silver pro [ducing countries and those countries which are the largest holders' or users of silver, with a view to miti gating fluctuations in the price of silver, and that other nations not parties to such an agreement should refrain from measures which could appreciably affect the silver market. (Continued on Page:7.)

BRITAIN'S TRADE WITH SOVIET.

Further Meeting At B. 0. T.

London.

The committee dealing with the

A reversed decision in the first er and Test player, and James Government in the United States in losses from seven to 25 points. encounter in the Pittsburgh-New Langridge, the Sussex all-rounder January, 1917, on the basis of £260, York double hender baseball game selected to play against the West 25 per cent bonds repayable in Lon-seven points, while grain markets 50,000 MOURN FOR eral Balbo, the Italian Air yesterday nearly precipitated A Indies on Saturday, enabled the don on February 1, 1937, for every plunged perpendicularly and closed rlot, the game being held up for 15 Players to total 278 for 9 before G$1,000 worthy of gold bonds. minutes while 22,000 spectators the close of play at Lord's yes- milled around the stands and the terday in the first Gentlemen players angrily argued with the Players match of the season. umpire.

Ames, who is enjoying his best season to date, scored 82, while Langridge hit up 71 at a critical period. The first match of this series: The conversion offer concerns the are considering an action to restrict R. H. E this season was scheduled for issue of G$250,000,000 for the war-loans for speculative markets, and July 5 at the Oval, but was aban-time purchase of munitions. The secondly to the action of brokers.

to be in raising marginal requirements binet Ministers and Diplomals, Admiral Sterling and attended question of the balance of trade be-

per stood mourning at the Aerodrome by the Governor of New York

tween Great Britain and Soviet 4 doned owing to the difficulty of interest and principal were

paid in gold dollars or sterling at from an average of 25 to 60

Russia icent, which led to a rush by spe- when the bodies of the Lithuanian State and the Mayor of New York

in connection with the raising two teams.

now negotiations for the Of the 231 matches played the option of the holders.

[culators without sufficient cash- Trans-Atlantic dyers, Capt. Darius and M. Girenas landed here yester.

From New York, General Balbo agreement yesterday held a further Reuter,

day. Silver suffered with other ·mar-

The dyers crashed when nearing plans to lead his squadron over meeting at the Board of Trade Of

the Atlantic via the Azores, with sce.-British Wireless Service. the general shake-out. kets in

an intermediate stop n Spain. There was heavy liquidation in Kovno, the capital of Lithuania, after an attempt at s non-stop sympathy with other markets.

POST MEETS BAD. Large speculartors were conspic-flight from New York. The reason

WEATHER. Both aviators were posthumous- The new offer is due to the moral uous sellers and support came for the crash is still unknown

|ly awarded a number of decora- obligation to see

that the holders principally from investment and

trade houses.

tions-Beuter. are not deprived, through the legisla

Round the World Flier of another country, of the

Held Up. benefits intended when they entered in to the contract..

Brooklyn

5

9

Cincinnatti

6

9

Hafery hit a homer.

New York

1

8

2

Pittsburgh

4

9

o since 1806 the Players have won

101, the Gentlemen 63 and 66

New York

7 10

0

have been left drawn.

Pittsbugh

12

Chicago New York

B 7

0

4 11

3

,

8 14

0

American League.

Walker hit a homer,

Cleveland

3 3

Wes Ferrall hit a homer. Boston

One

match resulted in a tie. - Reu- ter.

BOWES WITHDRAWS FROM ENGLAND XL

When Britain abandoned gold, the holders decided on payment in dollars, but since the United States abrogated the gold clause, Britain is no longer compelled to pay in gold dollars.

4 Clark To Play Against un 7 12

West Indies.

Rick Ferrell hit a homer.

Game went to 13 innings.

Detroit

Philadelphia

Detroit

Philadelphis

Miller hit a homer.

St. Louis

Washington

London, To-day

9

0

SATURDAY'S TEST.

7 12

1

¡10 18

1

5. 10 1

1

2

7 13 8.14.

Bowes, the Yorkshire and All-

Industrial issues were the worst affected, prices falling an -average of 5.09 to 103.58,

Rail and utility averages dropped The British Government offer does profess to place the holder in 1.62 and 1.36 to 54.01 and 36.15 bonds held the original advantageous position, respectively, while

but it is regarded as a very fair steadier, declining only an average offer It is also an effort to re of .05 to 83.04-Reuter.

England fast bowler, will be un- able to play for England in the Patriate the loan-Reuter.

QUALIFYING ROUND day.

IN DAVIS CUP.

second Test against the West Indies at Old Trafford on Satur

He has been replaced by Clark, the Northants left-handed fast bowler, ****

Clark was selected to play in

Denmark And Greece the first Test at Lord's, but was

On Level Terms.

torced to stand down on account of 撞 strained shoulder muscle, Copenhagen, To-day He was replaced by George Macau- Greece and Denmark concluded lay, and, though fit, was passed yesterday's play in the qualifying by the selectors for Saturday's rouad for the 1984 Davis Cup games M competition on level terms.

The scores were as follow:.

"

The England team is as follows: D. R. Jardine (captain), RE 6. Jacobsen (Denmark) beat Stallos Wyatt, C. F. Walters, E, W. V.

4-6, 6-2, 3-6, 6-2, 6-4,

6-4, 10-12, 6-4, 6-17:

6

Robins, Batcliffe, Hammond, Ames,

Xydia (Greece) beat Ulrich 4-6. Langridge (Jan) Verity, Macan

|lay and Clark-Renter.

U.S. To Raise Wages.

ROOSEVELT'S PLANS FOR INDUSTRY:

Washington, To-day, The Industrial Advisory Bound composed of members of the Cabinet, have formally endorsed the plans of General Johnson, administrator of Pre- sident, Roosevelt's Recovery Act for a campaign to bring all in dustry and business quickly into voluntary agreements for wage raising and limitation of hours. -Beuter.

LIMITING RUBBER

PRODUCTION.

Dutch And British

· Co-Operation ?

The Hague, To-day. The Dutch Premier, Dr. Colifa, accompanied by Dr. Wanls, head of the Economic Section of the Dutch Colonial Office left here for London, yesterday.

It is believed that Dr. Waals

ADMIRALTY ORDERS ON THE CLYDE. £45,000,000 Contracts Now In Hand.

London, To-day: Contracts for ships and machinery placed recently with Clyde shipbuilding and ep gineering firms amount to about £45,000,000, and work is already in progress, stated Captain D., Euan Wallace, Civil Lord of the Admiralty, in the House of Commons, yesterday, British Wireless Service.

TROTSKY ADMITTED TO FRANCE

City.

trade

KING AND QUEEN

AT OLYMPIA. Tour Of Advertising And Marketing Exhibition.

London, To-day. Moscow, To-day.

Their Majesties the King and Bad weather once, ""more

Queen visited Olympia yesterday, threatens to rob the Amert and made tour of all the principal can flyer, Wiley Post, of dia

features of the Advertising and chances of establishing a new

Marketing Exhibition in which the. round-the-world flight record.

press, printing, advertising" and, He was compelled to land at

many other leading industries have Hakhlovo, 700 miles from Kher collaborated. British Wireless borovsk, last night. In spite of Service, the reports of storms along the route which he must take, be ́de-! cided to take off again immediate-

Reater.

(Continued on Page .)

HOME SQUADRON OF RAF. USING COAL OIL ONLY

London, To-day.

Parie, To-day,: The Home Defence Air Squadron

U.S. KIDNAPPERS RESISTED.

Shoot Millionaire's Brother.

Philadelphia, To-day Franka McClatchy, brother and

will discuss with British experts, The French Government has su- is flying solely on all extracted from partner of John McClatchy," the was shot seriously when the question of co-operation be thorised M. Trotsky to reside in British coal, stated Sir Phillpllongire builder and real estato tween the Dutch and British Gor the south of France, including Sassoon Under-Becretary for the eraments regarding rubber restrice Corsica, for reasons of healthAir Ministry, in the House of Com resisting two kidnappers yester-

mons, yesterday, tion-Reuter.

Reuter