1933-07-21 — Page 1

The

new

BEDFORD

TRUCK

THE

HONG KONG HOTEL

GARAGE

The dollar, on demand, closed

to-day at 1/4-9-3.

FINAL EDITIOH

Library, S

China Mail

Est. 1845.

No. 28,474.

SEMI-PANIC ON US.

WILEY POST

CRASHES IN

ALASKA

Mishap In Landing At Fairbanks.

ROUND THE WORLD PILOT UNHURT

-

Fairbanks, Alaska, To-day.

Wiley Post, the American airman, crashed here yester- day afternoon, but is un- hurt.

U. S. ADMINISTRATION TO WATCH GRAIN MARKETS President Roosevelt Orders Daily Report On Accounts

Starting

Washington, To-day.

the administration stricter

campaign to exercise a

supervision of stock markets. ordered President Roosevelt has that the United States grain ex-

report daily changes are to

on

long and short accounts beyond certain amounts.-Reuter.

It is feared that the accident 200 JEWS

has ruined his chances of estab- lishing a new round-the-world flight record, although he still

has more than three days in which to reach New York.

Post crashed as he was aboutį

He air port. to land at the flew over Ruby, Alaska at 4.30 p.nl. (E.S.T.) and was overdue at Fairbanks.

felt Some anxiety was when a local airman report- ed that he had seen him flying backwards and for- wards as though lost. Reuter.

Fast Flight From Siberia.

New York, earlier.

ARRESTED IN

BAVARIA

Great Round-Up. By Storm Troops.

NO AUTHORITY YET KNOWN FOR ACTION

Berlin, To-day,

The ancient Bavarian city of Nurenburg was the scene of a great round-up of Jews yesterday morn ing, over 200 Jews, mainly busi- ness-men and shopkeepers, being arrested by Nazis.

THE OLDEST - ESTABLISHED NEYSPAPER IN THE FAR EAST

_HONG KONG, FRIDAY, JULY 21, 1933.

STOCK MARKETS

SENSATIONAL DAY'S TRADING

BRITISH BONDS RISE 9 POINTS

WHEAT PRICES COLLAPSE IN

WAVE VIOLENT SELLING

NEW YORK, TO-DAY. THE DELUGE OF SELLING WHICH SWEPT OVER WALL STREET ON WEDNESDAY REACHED ALARMING PROPOR- TIONS YESTERDAY, WHEN A SEMI-PANIC SET IN ON THE SPECULATORS NEW YORK AND CHICAGO MARKETS. RUSHED TO CUT THEIR LOSSES AS WHEAT PRICES PLUNG- ED TO A NEW 1933 LOW' LEVEL.

The latter figure

Trading reached a new high record with 8,120,000 shares as against 7,463,000 shares on Wednesday. was the highest recorded since May, 1930.

The United States dollar soared to 4.57, an advance of 16 cents. This rise, it is believed, is principally due to Britain's offer to exchange G$136,000,000 20-year, 51 per cent gold bonds, outstanding from the loan of G$250,000,000 raised by the British Government in the United States, in January, 1917, on the basis of £260 211⁄2 per cent bonds repayable in London on February 1, 1937, for every $1,000 worth of gold bonds.

BRITISH DOLLAR BONDS WERE IN GREAT DEMAND CLOSING AT 12144, AFTER HEAVY BUYING.

the year, plunged below the dollar line closing 14.10.17 points down.

FLUCTUATIONS

Chicago To S Prices.

Fat 1845.

PRICE $3.00 Per Month..

ZAMBRENE WEATHERPROOFS

ARE

Superior.

BERNARDS' OF HARWICH.

Outfitters.

CHATER ROAD,

HONG KONG.

AS PRICES SLUMP HEAVILY

SILVER FALLS

WITH STOCKS

ON WALL ST. Industrials Decline 7.32 On Average. TECHNICAL REACTION"

New York. To-day. Heavy silver liquidation continu- ed on Wall Street yesterday, the market being influenced by the acute weakness of securities and commodities. Commission houses were the chief sellers with the trade and banks scale buying and doing some short covering.

Industrial issues alumped a fur- ther 7.32 points.closing at an aver-

The Latest photograph of Chancellor Hitler.

age of 96.26, while rails dropped ANGLO-SOVIET

PARLEYS FOR

Utilities declined 4.45 to 49.66. 3.33 to 32.62, but bonds remained

steadier, dropping only an average of 37 to 88.67.

Business taw 8,120,000, shares change hands.

In their daily report, Messrs.

A. Pierce and Company.

through their local correspondents, Mésers. Asia Lands, Ltd., atate:-

"In view of the uninterrupt- ed rise, the mere fact that the reaction has been so violent,

Hitler's followers then paraded A semi-panic occurred in the Chi-RESTRICTIONS ON drastic and concentrated does Wiley Post. the American air-the captives through the streets,

the procession being flanked by cago Wheat Pit yesterday, when man, passed over Nome, Alaska. Storm Troops, The Jews were wheat prices in the worst fall of yesterday, after a safe journey from later taken to the military bar- Kharbarovsk. Siberia. He is now racks. well on his way to establishing new figures for a round-the-world flight, having approximately three days in which to reach New York.

Continued on Page 4.)

This action is described in local Nazi circles as a drive against Jewish society, but it whether it is not known was sanctioned by higher authority or whether the Storm Troops took the law

POOR BATTING AT into their own hands.

LORD'S

Gentlemen Faced With Defeat.

JARDINE AND TURNBULL SCORE WELL.

London, To-day. Failing to save the follow on by 16 runs the Gentlemen are now 14 runs behind the Players total of 309 with only 4 wickets in hand. j'

Rye fell 26 points, maize, 13 points and cotton 72 to 80 cents,

Chicago, To-day. while the dollar jumped 16 cents to

The Directors of the Board 4.57. The dollar jump is believed

of Trade bave limited the grain to be the result of arbitrage buy-

price fincinations, for trading ing in connection with the British

as follows:- Wheat, eight cents per bushel; conversion offer. It is reported that a meeting

British 'dollar bonds were maize, five cents per bushel; oats, of jews in a synagogue in Nuren- burg on Wednesday night was heavily bought and rose sensa-four cents per bushel; rye, eight dissolved, all present being ar- tionally to close at 1214, an ad- cents per bushel; barley, five cents

per bushel. rested. Reuter.

vance of nine points.

The New York Stock Market JEWISH TELEGRAPH OFFICE yesterday replunged headlong

into declines ranging from three LIMITS IN MID-WEST TOWNS. to 11. pointe. Some alcohol hold- Berlin, To-day lings slumped 20 points. The Berlin office of a Jewish tele-ter. graph agency was closed by the police yesterday.

Furniture was confiscated and publication of the agency bulletin

CLOSED IN BERLIN.

prohibited. Reuter,

The players' fast wicket added J. McGOVERN, M.P.

31 runs yesterday morning before C. S. Marriott, the Kent fast bowler, brought the innings to a close at 309. Marriott took 4. for 87.

In spite of dogged batting by Douglas Jardine, Eng- land's Test captain, the Gen, tlemen totalled only 143 to which the Surrey skipper contributed 59.

Following on 166 in arrears the amateurs were alded by a charac teristic knock by Maurice Turn- bull, who scored 72 out of 152 for!

G.

This match, the 232nd of a series dating back to 1806, will be con- cluded to-day-Reuter.

Tourists Beat Minor Counties Team.

CONSTANTINE 11 FOR 72.

The West Indies, enjoying ́a hollday match on the eve of the second Test, beat Staf fordshire by 9 wickels ut Bloke-on-Trent in their twai day fixture.

SUSPENDED

House Of Commons Vote.

NOTORIETY INCREASED

London, To-day.

Mr. Jack McGovern, one of the Clyde extremist group, has been suspended by the Speaker of the House of Commons.

A vote in favour of his sus- nsion was passed yesterday by the House by 161 votes to 24. The action was taken as the re- sult of Mr. McGovern's refusal to obey the Chair.

Mr. McGovern is the member for the Shettleston Division of.

Canadian Market Stampeded.

Reu-

FUTURES SLUMP TO 82 CENTS.

Winnipeg, To-day,

'The grain market here yes. terday stampeded under heavy stop-loss orders. Dollar wheat vanished. December futures were quoted as low as 82 cents per bushel-Reuter.

DENMARK LEAD IN DAVIS CUP

Greek Doubles Players Beaten.

Copenhagen, To-day.. Denmark have taken, the lead in their qualifying Davis Cup match against Greece as the result of their win the doubles yesterday." Scores as cabled by Reuter. Jacobsen and Ubrich (Den-

They have also cancelled trading in weekly privileges-Reuter.

Chicago, To-day.

In the towns of Minneapolis and Duluth, the following limits on the fluctuations of agricultural prices have been ordered:...

TRADE PACT

Question Of Russian

Debts Raised.

JAPANESE

ABUSE

BRITAIN

"AND RUSSIA

ATTACKED

Virulent Press Crusade

EFFECT OF BRITISH TARIFF INCREASES

Tokyo, July 21.

A crusade against Britain and Russin, in which editorial abuse sets itself no limits, is being com→ ducted by the Japanese Press.

London is their target because of the increase in the tariff on im-

ports into India, and Moscow is suffering because of a renewed outburst against Communism shap- ing itself.

Besides the two countries being Lampooned in the daily news- SETTLEMENT DEMANDED BY papers and articles in the leading

HOUSE OF LORDS

Japanese magazines, posters, bit- terly denouncing Britain and de- manding a severance of diploma- tic relations with Russia, In the House of Lords last even-being placarded. }

London, To-day.

Bre

not signify and fundamental change. In other words, the business outlook is reassuring, & basis on which the negotiations for journalistic eruptions calmly as the stock market is mil right. an Anglo-Russian trade agreement one of the virulent outbursts of "It is quite reasonable to ex would be conducted, and several of zenophobia which, they assert, pect more selling to-morrow. How-their Lordships urged that before the Japanese Fress chronically Ever, if this is the so-called techni- concluding such an agreement cal reaction, come decree of equili-condition precedent should be the brium should be reached within

ing members inquired regarding the Foreign quarters view these

the next two days and we do not recognition by the Soviet Govern- believe it is anything more than ment of public and private debts technical.

Jowed to Great Britain.

(Continued on Page 7.)

BRITISH STOCK MARKET.

Improved Tone After Easier Opening.

London, To-day.

displays.

With Britain and' Russia

- in disfavour, "Amerien is now

basking in the rather unac-· customed sunshine of enlog.. istic. tributes from writers who not long ago were more Replying on the discussion

"Inclined to hurl verbal brick- Lord Londonderry said that on

bats at that country. the general subject of the attitude towards Russian trade he could Observers believe the campaign not agree with those who said against Britain will be quickly sun- that they should wipe out Rus-pended if satisfactory agreements jare reached as result of the project- sin from their trade purview and ed truce parleys in Simla or Lon- leave them to occupy their own doa, while the termination or con- position in the world.-"

tinuance of the villification of the He said he could assure their Soviet is likely to depend large- Lordships that negotiations with ly on the outcome of the pre- the Soviet Government would be sent negotiations for the sale of the carried out on an equitable basis Chinese Eastern Railway-Beuter. under which trade could be de-

The tone of the Loudon stock markets yesterday, after be ing caster in sympathy with America, improved again. Shanghai-Nanking Railway issuesveloped in a satisfactory man- Wheat, eight cents per bushel; declined to £39% but Tientsin-ner. . rye, eight cents per bushel; bar-Pikow Rallways remained ley, five cents per bushel; corn, changed at £20.25. War Loan, 3% five cents per bushel; oats, four per cent remained steady at 98% cente per bushel; flaxseed, 15 cents Industrial issues showed little fiue per bushel-Reuter.

$1.63 A Bushel WHEAT PRICE FIXING LAW

IN FRANCE.

Paris.

The drastic French wheat price fixing law became effective in France and Algeria on July 18,

It provides that farmers shall receive a minimum of at least $1.63 per bushel at the present rate of exchange.

tuation, although oils and miscel laucous issues had a slightly weak- er tendency-Reuter."

NEW DRY-DOCK AT SOUTHAMPTON

World's Largest To Be Opened By King.

TRIBUTE TO BRITISH ENGINEERING

He could also assure the House that no permanent pact would be made. without a settlement of the Russian debt.

Wireless British Service.

Tariff Truce To Continue.

NO INITIATIVES BEFORE JUNE:12,

London, To-day. Referring to the tariff truce in Parliamentary answer yesterday the Financial Secretary to the Treasury, the Rt. Hon. Mr. L. Hore-Belisha, said that under the terms of the The heaviest penalties for viola-

London, To-day, resolution adopted by the Organis tions are provided. Wheat im The world's largest dry-docking Committee of the World portation is prohibited for two will be opened at Southampton Economic Conference the Govern- months

next Wednesday when the Royal ment concerned had agreed that they yacht "Victoria" and "Albert," would not adopt any new initiatives

(Continued on Page 6)

EUROPEAN BOY

INJURED

Glasgow, fighting the last elec-mark) beat Stalios and Xydis 6,000 ATTEND ROYAL with Their Majesties aboard, will

tion as a member of the LLP. 7-5, 6-3, 4-6, 7-5,- 7-1 and defeating the official Labour Earlier Results.

GARDEN PARTY.

candidate, Mr. J. Marshall by Jacobsen (Denmark) beat Many World Conference 14,000 votes, although his ma-Stalios 4-6, 6-3, 3-6, 6-2, 6-4. jority over the Conservative was Xydis(Greece) beat Ulrich merely 771.

4-6, 6-4, 10-12, 6-4, 6-1

His career in Parliament, Austria have eliminated Spain

Delegates Present.

break the red, white and bine rib- bon stretched across it's entrance. This new graving dock, which

cost over £200,000 is part of the Southern Railways' £13,000,000 dock extension scheme, and constitutes

Warder's 5-Year-Old Son Falls On His Head,

JAPANESE TRADE

COMPETITION.

"Colonies Will Protect British Interests.”

200 PER CENT INCREASE IN DUTY - ESTIMATED

- London, To-day. During a motion for ad- journment, the House of Com mons yesterday discussed the Japanese competition in bik

and cotton.

The Secretary of State for the Colonies. Sir Philip Cun- liffe-Lister, admitted that the preferences given by the Co- lonies were quite inadequate to cope with the competition, as in some cases Colonial duties would have to be increased 200 per cent.

He was certain that if the present negotiations with pan are unsuccessful, the Co- lonies will take steps to pro- tect Brush interests. Reuter

John English, aged 5, son of KING FEISAL LEAVES LONDON

London, To-day.

one of most remarkable achieva- London, To-day-ments in the history of British en- L. N. Constantine, the fast which he first entered in 1980, in the Second Round, and the re:About 6,000 guests attended the gineering. bowler and all-rounder who will has been marked by stormy maining matches, to be played garden party given by Their The dock holds 260,000 tons of efrengthen the tourists at Old scenes, the last of which ended in before August 20, are Holland Majesties the King and Queen, at water, and the sea is kept back by Warder English, living at the Trafford to-morrow, took 11 wickets his. forcible removal from the Rumania, Poland Italy, Buckingham Palace, yesterday huge steel doors weighing 1,500 tons. Government Quarters, Breezy. for 72 runs in the match.nya, House of Commons and his sus- Monaco v Switzerland, Sweden The annual event had a more than During its construction, in which Point, fell from the verandah on

Chamberlain, left London by the Scores as cabled by Beater: pension for the rest of the sea- Belgium or Hungary, Norway usually international character ow- 456,000 tons of concrete were used the second floor yesterday, recely accompanied by his Stail and Lord Staffordshire: 122 (Constantins son

v. Engo Blavia, and Germany v ing to the presence of many of the the sea was held away by a great ing Injuries to his head, yo

He was taken to the Government Continental Boat train for Switzer He was imprisoned recently as Ireland. The Third Bound will delegates at present in London, for earthern bank reinforced by a cur-

tain of steel, British Wireless Ser Civil Hospital where he lies in a land, yesterday, British Wireless the result of the part he played be completed by September 3. the World Econom

critical condition. British Wireless Ber in the Glasgow riots. Reuter, Reuter,

7 for 50)

99 (Constantine ◄ for 22), West Indies: 168 and 55" fór 1,

vice.

His Majesty King Feisal of Iraq).