1933-07-26 — Page 1

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No. 28,478

HONG KONG,

WEDNESDAY, JULY 26, 1933.

PRICE $3.00 Per Month.

OFFICIAL DENIAL OF

U.S. TO ACT ON SILVER

PRODUCER'S

INTERPRETATION

WORK FOR 6,000,000 JOBLESS BY STEPTEMBER 1

Fine Response To Mr. Roosevelt's Unemployment Appeal

Washington, To-day. Employment for between 5,000,-

OF AGREEMENT 900 and 6,000,000 new workers by

Plan Criticised As Inadequate.

METAL MUST BE RECOGNISED AS BASIC MONEY

Salt Lake City, To-day. Asserting that no silver plan is sound which does not recognise sil-' ver as basic money, Mr. Montferry, President of the American Silver Producers' Association, yesterday declared that independent action by the United States was indicated quite definitely in the new silver agreement.

"It is inconceivable that our de- legates to the World Economic Con- ference, a few of whom understand the silver question, could be in duced to agree to any plan failing to recognise silver as primary

money,

"The declared.

"Our delegates carried to Lon- don the expressed admoniton of the United States Senate and the House of Representatives to labour un- Liringly for such recognition. No thing short of that will meet with the approval of Congress."

A mere cartel treating silver as a commodity only, was wholly ina- dequate, although as a preliminary step it may perhaps be helpful. Mr. Montferry declared.--Reuter.

NEBULOUS SILVER PACT

Mexico Pessimistic Of Results.

!

September 1, is predicted by the Director of the National Industry Recovery Administration, General Hugh S. Johnson.

General Johnson bases his ex- timate on the responses to Pre- *ident Roosevelt's appeal.-Reu-

ter.

JAPAN MAY

CHALLENGE

FRENCH CLAIM

Islands Between P.I.

And Indo-China.

TOKYO STUDIES QUESTION

Tokyo, To-day.

The possibility that Japan may contest the French claim to the islands between Indo- China and the Phillipines is in- dicated in the Foreign Office, where it is revealed that the Government is studying the question.

It is also revealed that on three-occasions since 1918 enterprising Japanese, inter-" ested in these islands, had pe- titioned to the Government to claim them, but that, hitherto, no action had been taken.- Reuter

NANKING SENDS. ENVOY TO FENG

Hopes Of A Peaceful Settlement.

Peking, To-day.

YOU BUY BETTER

AT

BERNARDS OF HARWICH,

Chater Road.

GENTLEMEN'S OUTFITTERS.

RUMOUR THAT STERLING IS TIED TO FRANC

BRITAIN'S POLICY

PREVENTION

OF EXCHANGE

FLUCTUATIONS

Avoiding Speculative Influences.

TREASURY STATEMENT

London, To-day.

In a Parliamentary answer, the Financial Secretary to the Treasury, Mr. L. Hore-Belisha, yesterday, stated that there is no truth in any suggestion that sterling is tied to the franc.

FUTURE OF WORLD ECONOMIC CONFERENCE

Committee Appointed To Make Decision Before November 1

London, To-day.

The Bureau of the

World

Economic Conference has agreed

to appoint a small committee to decide on the fature meeting vi the Conference.

The committee is to decide on or before November 1, whether or not the Conference shall be again convened.. British Wireless Ser vice.

JAPAN'S TRADE

ATTEMPT TO

RISE 17 MILES

ABOVE GROUND

U.S. Balloonist To Fly Alone.

PICCARD NOT JOINING ATTEMPT

New York, To-day.

In order to permit the carrying of more scientific instruments, Pro- fessor Jean Piccard. twin-brother to Professor Auguste Piccard, the well-known Belgian scientist, will not accompany Lieut.-Com. T.GW. Settle, of the United States Navy, on his attempt to rise 17 miles into

COMPETITION

WITH BRITAIN the stratosphere.

Discussion In India

Proposed.

COUNTRIES TO REVIEW TEXTILE INDUSTRY

Licut.-Com. Settle will make the attempt solo, using a hermetically sealed bail made of "down-metal," weighing 14 stone:

Prof Auguste Piccard holds the present altitude record. Onl August 18, last year, together with his assistant, M. Max!

The policy of Government is to prevent frequent and wide fluctua- tions in exchange due to purely THREE speculative influences, he declared. No inference can be drawn from the fact that fluctuations in the gold value of sterling are not very In a statement regarding the por Cosyns, Prof. Piccard ascended sible convening of a conference 10 miles, beating the record wide at this particular time.

He added that there is no reason between British and Japanese in- he set in 1931, by 919 meters. — to suppose that the Dominion dustrialists in connection with Ja- Governments or the Governments of panese trade competition, the

London. To-day.

Reuter.

(Continued on Page 4.)

the countries in the sterling area Parliamentary Secretary of the STERILISATION IN see any objection to this policy. Board of Trade, Dr. F. L. Burgin, British Wireless Service.

FIRM TONE RULES LONDON MARKET.

said that a reply was sent on July 20 to the note from the Japanese Government on this subject received

some little time ago.

In that note the Japanese Gov- Industrial Issues Showernment indicated that the Jap

Good Gains.

London, To-day.

The London stock markets yes terday closed with a firm appear ance. Appreciable gains by sever-

anese interests concerned had agreed, subject to certain limita tions which had since formed the Isubject of an informal discussion, to the proposed meetings be- tween industries as far as they

might relate to cotton textiles.

The proposal under considera- al industrials and trans-Atlantic tion is that there should be a tri- favourites under American influence partite discussion in India in the near future, between represen- were recorded.

Argentine railways closed strong, tatives of the industries concern- ed, of Lancashire, India and but German railways sagged. Oils, Japan, covering the whole field of The Chinese press declares that a rubber and gold shares were bet- all classes of textiles in which special delegate from Nanking,

these countries are interested. ter. carrying an autograph letter from

British funds showed little These discussions' will relate to. Mr. Wang Ching-wei, left for Kalgan yesterday to

see General change, war loan, 312 per cent, the Indian market and to the Bri- tish Colonial markets in which Feng Yu-hsiang.

closing at 99 1/16.-British Wire-India is interested. The passage of time is recognised less Service.

•

as being helpful toward a peaceful{

Mexico City, To-day. Despite the fact that Sener Alberto J. Pani, Mexican Minister of Finance, is a signatory to the World Eco- Conference nomic

silver

Reuter. silver

agreement, high authorities in Mexico are

settlement, and hopes are rising 3 HOURS' TRADING

that hostilities can be averted.-

somewhat pessimistic, be RAILWAY TRACK

lleving the pact to be nebul-

ous

sub-

Mexico might benefit stantially if the silver price suits the dollar exchange. but the; authorities are of the opinion that artificial inflation of prices by agreement, has never been a success. Reuter.

L

MORE SILVER VIEWS

Restrictions On Metal Exchange Urged.

Denver, Colorado, To-day. Commenting on the new silver agreement, Mr. W. W. Price, ex- President of Colorado Springs Min- ing Stock Exchange, expressed an opinion that it is a compact to: "take the control of the silver market from selfsh monopolets in London and New York"

BOMBED

Attempt To Wreck Train.

GOVERNOR OF BENGAL ESCAPES PLOT

Calcutta, To-day, An attempt to wreck the train

in which Sir John. Anderson, P.C., G.C.B. G.C.LE, K.C.B., C.B., Goy- ernor of Bengal, was return- ing from. Faridpur, Calcutta,

WAS

made at a wayside station yesterday. *-

When the pilot engine, preceding the train, enter- ed the station, a bomb ex- ploded. The railway track, however, was not demaged, and the Governor's train

Mr. James A. Donahue, a well-passed the spot safely..

known broker, stated that the

IN CHICAGO,

US. Stock Exchange Restrictions.

(Continued on Page b.)

TANGSHAN TAKEN OVER.

Order In The North.

Peking, To-day. Chicago, To-day.

Tangshan was finally taken over: Chicago Stock Exchange trading by the Chinese yesterday after- in future, is to be confined between noon, the Head of the Public Safe the hours of 10 a.m. and 1p.m.,ty Bureau entering into his duties. (Central Times), to conform with| The other districts are expected the new hours now in operation on to follow suit to-day and to-mor the New York Exchange. Reuter. row-Beuter.

WALL STREET NOT ENGLAND BEAT IRELAND

IMPRESSED

Silver Market Rules Featureless.

SHARES DECLINE

00

AT GOLF

London, To-day." England best Ireland by 14 matebes. to 4-in an "interna ational golf match played at Belfast yesterday, Wireless Service,

British

GERMANY

Hitler's New Law For

The Unfit.

DECISION TO REST WITH DOCTORS

Berlin, To-day. The Hitler Cabinet will shortly sanction a law for the sterilisation of unfit people.

The law provides for per- sons such as incurable drun- kards, sexual criminals, luna- tics and sufferers from any in- curable disease that can be passed on to their offspring, to be sterilised compulsorily if the College of Doctors decides by a majority, that the opera- tipa is necessary for the wel fare of the nation.

An appeal against any de- cision may be made to the Upper Court of Health, which is to be constituted.-Reuter. SIR ROBERT HO TUNG ILL.

Condition Improving.

London, To-day.

Sir Robert Ho Tung is ill in

a London nursing home. His condition is improving-Ben-

ter.

HRH the Prince of Wales beat Lady Astor in the semi-final of the Parliamentray golf handicap at Walton Heath, Surrey, on June 29., by 2 and 1. The Prince wore la blue check shirt, grey plus-fours

and check stocking (S. & G)

SHENG AN PIRACY ENQUIRY

Buccaneers Held By Japanese.

MOTIVE FOR CRIME?

Dairen, To-day, The preliminary enquiry into

the piracy of the "Sheng An"

which was conducted in camera,

has been completed and the au-

thorities are considering when, and in what form, to issue their findings. It appears certain that] the trial will be held in Dairen.'

In accordance with Japanese law no one, not even officials of the German Consulate, is being al- lowed access to the prisoners." ~

Foreigners and Japanese here express the opinion that the pirates had not intended to sell the ship's cargo in Valparaíso as Was claimed, but that there was a dif- ferent motive at the bottom of

the crime, one of the theories be-

ITALIAN AIR

ARMADA AT

N. BRUNSWICK

Atlantic Route Not Yet Decided.

ONE PLANE FORCED DOWN WITH ENGINE TROUBLE

Balbo Thanks Roosevelt

Shediac New Brun

swick, To-day, With the exception of one

of the planes which landed at Rockland, Maine, owing to minor engine trouble, General Balbo's air armada arrived from New York-a distance of 650 miles at 8.56 p.m.. (British Standard Time) yes- terday.

While flying over the Cana- dian border, General Balbo wirelessed to President Roose- velt thanking him for the many unmistakeable signs of friend- ship and regard afforded to the squadron.

General Balbo has not yet decided whether to fly home by the Northern or the South-

route

te across the Atlantic.

cm

The armada is remaining here

for a few days-Reuter.

7 KILLED IN AIR

CRASH.

Military Bombing Plane

Wrecked.

Oceanside, California,

To-day

Seven men were killed here yesterday, when a giant mill- tary bombing" plane, crashed into a field and was wrecked. The cause of the disaster is so far unknown-Reuter.

DUTCH – BRITISH CO-OPERATION

Trade Agreement Proposed.

LONDON CONVERSATIONS

London, To-day. The conference of repre- sentatives of the British and Dutch cotton industries which began at Manchester in April last, was resumed in London, yesterday.

:

The conference further ex-

ing that the buccaneers had In plored the possibility of the Bri-

Sir Robert, who is in London as mind the sale of the vessel to some tish and Dutch Governments

adviser to the Chinese delegation conniving ship-wrecking

concern taking mutually advantageous,

to the World Economic Confer not far from Dairen,-Reuter, ence underwent an operation for cystitis, on June 30.

According

to messages received here by Bir his progress Robert's relatives, since the operation has been satis- factory.

Italianisation Of Malta

KING AND QUEEN AT COWES. Regatta Opens On Monday.

measures regarding the cotton and allied export trades of both countries.

Feared By British M.P. Their Majesties the King and aged to take place shortly.

**

affecting Certain schemes various markets, including the Dutch East Indies, were closely examined technically, and a com-" mon agreement reached regard New York, To-day.

ing representations to their res pective Governments. The New York Market is impress

Further discussions are envis- ed but little with the World Econ-

London, To-day." Comic Conference silver agreement,

The metal ruled featureless

Queen joined the Royal Yacht Reuter. Wall Street, yesterday. Commis

London, To-day, House of Commons unanimously Victoria" and "Albert" at Parts- sion houses liquidated and the

The situation in Malta was the approved the course which the mouth yesterday and later safled

LLO. trade and banks bought.

Reactionary tendencies showed subject of questions addressed in Government took in regard to the for Cawes, where they will remain The action now wanted was for the PROSPECTS FOR TWELFTH themselves in the general market the House of Commons yesterday teaching of English In' Malta: during the Regatta which begins||

London, To-day. yesterday, bat in certain quarters to Sir Phillip Cunliffe-Lister Secre- That decision would be strictly on Monday,

carried outrea

They were received with, Ba The degree of Doctor of Law was It is thought that they will not detary of State for the Colonies.

Asked if he were aware that, in He though the Maltese Govern- late of 21 guns from the guardship yesterday conferred, on behalf of London, To-day velop in to a serious decline in the Reports from the Scottish and immediate future. The Cotton regard to teaching of English and went understood that there could H. M. 8. "Rodney" while the Boy the Manchester University, upon The rainfall for the 24 hours ending English moora Indicate that the Market opened higher, but cased Italian, the people were growing be no question of modifying in the al Yacht Squadron and the yachts the British Prime Minister, Mr. at 10 am to-day was 0.38 inches, grouse shooting prospects for the off later in sympathy with the exceedingly anxious at the grow slightest degree the unanimous de anchored in the roadstead dipped Ramsay MacDonald, the ceremony ing Italianisation of this British clsion of Parliament. British their ensigns as the royal yacht taking place at No. 10 Downing making total ince January 1 of Twelfth are the best for many Stock Market.

passed.British Wireless Bervice. 'Street, British Wireless Service. 138,01. Inches, against “RUN SVET258) of

Colony the Minister said that the Wireless Service. 49.30 inches.

agreement exceeded expectations;

Government to forbid scrambling on

to limit investors. to actual trans

the New York Metal Exchange and

actions in silver bullion-Reuter.

Reuter.

EXCELLENT

yearBritish Wireless Service.

(Continued on Page-13);

·MR. RAMSAY, MACDONALD