1933-08-26 — Page 1

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Stubbs Road, Happy Valley.

The dollar, on demand, closed

to-day at 1/4 8-8.

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Est. 1845.

BEDFORD

Est. 1845.

THE OLDEST-ESTABLISHED NE VSPAPER IN THE FAR EAST

MADETING ENGLAND

No. 28,505

HONG KONG, SATURDAY, AUGUST 26, 1933. PRICE $3.00 Per Month.

HIGH GRADE GENTLEMEN'S

OUTFITTING

AT HOME PRICES

BERNARDS" OF HARWICH

CHATER ROAD,

HONG KONG

WHEAT PRICES RISE IMMEDIATELY AFTER AGREEMENT REACHED

YORKSHIRE

FOLLOW ON

AT THE OVAL' Surrey Compile 560 For 6 Wickets.

MEAD AND WALTERS AGAIN SCORE CENTURIES

London, To-day. Yorkshire, who have already won the County Cricket Championship, were surprised at the Oval

од

Thursday where they failed by

U.S. COMMENCE WARSHIP U.S. TO CUT ACREAGE

BUILDING PROGRAMME

Two Aircraft Carriers, And Two Light Cruisers

Washington, To-day.

An important step in America's Dew "Prosperity" warship-buil ding programme was taken yester. day when Mr. Swanson Secretary to the Navy signed two contraeli aggregating over $61,250,000 for the construction of two aircraft carriers and two light cruisers.- Reuter.

177 runs to save the indignity of ALL AMERICAN

following on against the very me diocre Surrey attach.

J. C. Squires (178) ond Barling (112) enabled Surrey to amassi 560 for 6 the highest score recorded against the champions for the past three seasons and when stumps were drawn York- shire were still 108 runs in ar-

wickets! rears with half their down.

FINAL IN US.

LADIES' TENNIS Helen Jacobs Defeats

Dorothy Round.

BRITISH GIRL'S SUPREME EFFORT IN SECOND SET

Two of the features of the

New York. To-day. cricket seRSON have been

Helen Jacobs, ranking No. 2 the consistent brilliance of Philip Mead, the Hampshire player in America, is to defend her veteran, and Cyril Walters, title against Helen Wills-Moody, the the Worcester skipper and Wimbledon champion who is mak- Herbert Sutcliffe's new parting a determined attempt to regain ner for England.

the title she last won in 1931, in the Final Round of the American National Women's Lawn Tennis Singles Championship at Forest Hills today...

(Continued on Page 4) Results as cabled by Reuter:

County Championship, Surrey took first tunings points from Yorkshire us the Oval.

Surrey 560 for 6 dec. (J. C. Squires

178, Barling 112). Yorkshire 233 and 219.for 5.

Yesterday Helen Jacobs beat Dorothy Round, Wimbledon final- defent in the Semi-Final Round ints, by 6-4. 5-7, 6-2 to avenge her Worcestor took first innings at Wimbledon and to repeat her points from Hampshire at Bourae, Wightman Cup triumph.

After four successive days of rain the sun at last appeared, and the courts dried well under the influence of a high wind.

mouth. Worcester 100 (Boyes 6 for 55).

425 for 4 dec. (C. F. Walters

190 not out, Nichol 116). Hampshire 99 (Brook 6 for 32).

295 for 4 (Mead 131 not out).

Sussex beat Leicester by '70 runs at Eastbourne.

Sussex 245 (Astill 5 for 56).

167 (Astill 4 for 44). Leicester 228 (Langridge (Jas.) 5

for 62).

114 (Wensley 8 for 41).

Notts beat Northants by 115 runs at Trent Bridge.

Notts 358 (Matthews 5 for 83) and

125 for 8 dec.

Northants 150 (Voce G for 59).

The holder accustomed herself to the disconcerting - wind quicker than her op- ponent and easily won the first set the score of 6-4 be- ing little indication of the run of play.

(Continued on Page 14.)

1934 DAVIS CUP.

Italy Lead Holland By 2 To 0.

BY 15 PER CENT

AGREEMENT ENSURES 63 CENTS A BUSHEL

BULLISH REACTION ON LIVERPOOL ́AND WALL STREET MARKETS

LONDON, TO-DAY.

A QUICK REACTION WAS PROVIDED TO THE WHEAT AGREEMENT REACHED YESTERDAY BY 29 COUNTRIES AND WHICH ENSURES CONTROLLED PRODUCTION AND A

RISE OF 10 GOLD CENTS A BUSHEL IN THE FRICE OF WHEAT. WHEAT PRICES IMMEDIATELY ADVANCED ON

THE LIVERPOOL MARKETS, WHILE ADVICES FROM NEW YORK STATE THAT A BULLISH CONSTRUCTION IS INFER- RED FROM THE LONDON WHEAT CONFERENCE.

The Agreement adds that the importing countries agree, that in order to restore more normal conditions in the world wheat trade, a reduction of Customs tarifs must be accompanied by a modification in the general regime of quantitative restriction on wheat imports, and they accept on the principle of desirability of such a modification.

The exporting countries agree that it may be possible to make substantial progress in these modification during 1933-34, but im- porting countries are prepared to make effective alterations during 1934-35 if world prices have taken a definitely upward turn from the average price of the first month of 1933-Reuter & British Wireless Service.

Washington, Today.

A reduction of 15 per cent. in the United States wheat acreage has been tentatively decided in consequence of the London Agreement. "A formal aoracement will be madeto-day by Mr. Henry C.. Wallace, would dump her surplus wheat if the London Conference failed. Secretary of Agriculture, who had previously threatened that America

Reuter.

10 GOLD CENTS A BUSHEL.

Conference Ensures Rise In Price.

WHEAT AGREEMENT SIGNED.

The King takes part in the Royal Thames Yacht Club's Re gatta al Ryde, Isle of Wight, on July 27. His Majesty on board his yacht. "Britannia," shaking hands with the Skipper. (8 & G.)

FURTHER NAZI PERSECUTION.

Many Prominent Men Proscribed.

CITIZENSHIP ABROGATED AND PROPERTY CONFISCATED

Berlin, To-day.

In accordance with a recent Decree, the Minister of the fa- terior has annulled the German Citizenships and confiscated the property of a number of Ger

mans now abroad who are

Injured German Interests by behaviour conflicting・・ with

their duty and loyalty to the

nation and the Reich

Those affected "include Georgo

Bernhard, ex-Editor of the Vossiche Zeitung, Dr. Rudolf Breitscheid, Socialist leader in the Reichstag,

Lion Feuchtwanger, the famous author, Dr. Alfred Kerr;;. ex- Editor of the Barliner Tageblatt, Philip Scheidemann, the Socialist

fer, Editor of Varioaerta.-Reuter.

PRIME MINISTER TO

Lower Tariffs Desired. ex-Chancellor, and Friedrich Stamp-

London, To-day. An agreement on the world! price of wheat and on the limitation of supplies was reached yesterday, by the Wheat Conference, in Lon-the don, at which 29 countries are re presented.

The Canadian Premier, Mr. R. H. Bennett, who is Chairman of the Conference, has announced that the exporting countries had Italy are almost assured of en-accepted 12 gold franes per quin- by 141tering the Fourth Round of the tal, or 63.08 gold cents per bushel,

218 (Staples (S.) E for 34).

Derby beat Middlesex runs at Lord's.

Derby 132 (Judge 5 for 27) and

320.

Middlesex 151 (Copson 6 for

Mitchell 5 for 62).

160 (Mitchel 6 for 53).

Lancashire beat Essex by

runs at Liverpool.

Lancs, 205 (K. Farnes 6 for 72).

198 (Nichols 5 for 67).

Essex 205 and 181.

28,

17

The Hague, To-day.

1934 Davis Cup contest.

Yesterday De Stefani and Rado won their singles matches to give Italy a lead of 2-0 over Holland.

as the price level at which the im-i porting nations may be asked to readjust tariffs on wheat.

Exporting countries, he ex-

Hans Timmer, the veteran Dutch plained, had desired a higher

***London, To-day The Wheat Agreement be tween 29 countries, was signed at Canada House, London, at 10.30 p.m. yesterday.

It incorporates a statement by exporting countries on the lines of the draft agreement issued by the exporting countries on Monday. last stating that:

VISIT KING.

Invited To Balmoral

London, To-day.

11,000,000 UNEMPLOYED IN AMERICA

Bat 1.500,000 Find Work: Production Increases,

Washington, To-day. More than 1,500,000 unemploy; cd were re-absorbed in the United States during the quarter ending June 30, according to the Federal Beserve review, -Eleven Million workers are, however, still idle.

Production has increased by 59 per cent.Reuter

SHARP RISE

IN STOCKS ON

WALL STREET

Silver Advances On General Buying.

OPTIMISTIC OUTLOOK

New York, To-day... Sharp rises in industrial and rails were features of yesterday's activi ties on Wall Street, Utilities also ad- vanced, but bonds declined slightly. Reflecting the activity, businers showed a considerable increase, 3,330,000 shares being traded.

Silver advanced on general buy- Mr. Ramsay MacDonald, the

ing, due to the strength of sterling Prime Minister, who is spending in sympathy with other markets. "Importing and exporting coun- holiday at Lossiemouth, will visit The trade bought some silver at the

NO INFLATION

OF CURRENCY

IN AMERICA

Official Announcement Of Policy.

WOODIN NOT · RESIGNING. FROM TREASURY

"Washington, To-day. The United States Administration will not inflate currency, according to an announcement made by the United States Secretary of the Treasury, Mr. William H. Woodin.. after a conference with President Roosevelt, yesterday.

Mr. Woodin also declared that he was not resigning from his að- | mistrative post.

It is understood that the Pre- sident and Mr. Woodin discussed the possibility of issuing an execu tive order for forcing the hoarded gold, estimated at C$600,000,000 in |notes and coin, into the Treasury. It is believed that the President will soon issue the order, N

A formal statement has dis- closed that the Federal Re servé, during the past week, purchased Federal Bondi ta the value of G$55,008;998 United. Press, per 8 C Bar Ca

US. ATTITUDE-TO FOREIGN TRADE

Government Services Discontinued.

FIRMS LOSE ASSISTANCE OWING TO ECONOMY

Washington, To-day,

An important change in policy is involved in the joint announcement by the United States Commerce and State Departments. For

· reasons of economy they are discontinuing assistance, to individual firms conducting business abroad.

The classes of commercial ser-

tries being desirous of establishing Their Majesties at Balmoral Castle lower levels and there was scatter-vice to be discontinued are special: a balance between consumption and early next month.-British Wirelessed commission house and speculs market surveys for individual production are agreed.

Firstly, not to encourage any in- Service. crease in acreage:

Secondly, to adopt every possible measure to increase consumption;

Thirdly, to lower Customs tarifs when price levels are suficiently steady to permit."

the matter

player who has taken a set of Ells- price, but in view of the repretives also urged that worth Vines, fully extended De sentations made by the other Stefani, who was taken to 58 games delegations, they were prepared should be dealt with later, but

these proposals were defeated. before he emerged the victer after to agree to this figure. ' being 2 sets to 1 down.

The French delegate informed The Italians are expected to win the Conference that his Govern- the doubles match to-day to en-ment were prepared to give, proof sure their entry into the Fourth of their desire for an agreement

by accepting this price:

Warwickshire beat Gloucester-Round... shire by 180 runs at Bristol. Warwick 366 (Bates 124, Sinfield

7 for 98) and 181 for 6 dec...

244 and 112,

HAMILTON BEAT HIBERNIANS.

Home Win By Four Goals To One.

Britain, and other producing countries which do not export, will sign the Agreement. Importing countries, in a para- graph to be added to the Agreement declare, "That measures affecting

YELLOW RIVER STILL RISING.

Growing Fears In Tsinan,

Tainan, To-day. Teinen's half-million inhabitants are growing every mamant more apprehensive, as a rise of only two inches in the level of the Yellow River will mean an incalculable disaster.

Feverish efforts are being made

firms and negotiations or tran- tive selling.

Industrials soared 3.60 to 105.07 actions on behalf of such firme.

For example, the services to while rails and utilities advanced be discontinued include the ac- 2.28 and 95 to 52.37 and 81.18 res-tual sale of merchandise; the pectively. Bonds declined 10 to conclusion of the agency agree 187.58.

ment; the collection of an ac In their market report, Meaarscount or the setticntent of a E. A. Pierce and Company, through trade dispute in which public in their local correspondents. Messrs.terest is not involved, and corres Acia Lands, Ltd., state!

"The Federal Reserve's an- nouncement of increased buy ing if Government' securities during the past week served to

day's rise.

pondence or personal interviews on behalf of a firm negotiating < with a foreign agent or buyer.

provide the stimulus fer to TOKYO DEADLOCK

ON CER. SALE

Soviet Dissatisfied.

MANCHUKUO · OFFER 50,000,000 YEN

Resuita as-cabled by Reuter: - The delegate from Germany

the area of wheat grown and the to bolster up the defences against

floods-Reuter. De Stefani (Italy) beat Hans spoke in similar terms. (Timmer 11-9, 5-7, 4-6, 6-2, 6-2,

On behalf of Russia, it was degree of production adopted, are Rado (Italy) best Karsten 6-1,

stated that

primarily dependent upon domestic abe

conidtietis within each country, and HARBIN PIANIST Many authorities think that an 6-3, 6-1, ---

sign, but with a reservation as to the limitation of exported. wheat.

SÍR JOHN SIMON

· RETURNING.

Holiday In Brazil.

London, To-day, After his holiday voyage to Brazil, Sir John Simon, the Foreign Secretary, is due back in London on Tuesday,

London, To-day, Hamilton Academicals, secured their first home win in the premier Scottish Football League yenter day when they beat the It is expected that he will remain Hiberalans, • newcomers to the in town for a few days and then League this season, by goals to 1 proceed to Scotland. British Wine

This was the winners secondless Service. success in four games and raised

the team four places in the League table. It was the Hibernians second defeat in four games.

(Continued on Page 4.)

would

that any change in those measures must often require the sanction of The Danubian Slates intimated the legislature. The intention of that they were in the same poal this agreement is, nevertheless, that Importing countries will not take ad- tion as Russia.,

Exporting countries have agreed vantage of a reduction of exports on the part of exporting countris to limit their export of wheat by developing their domestic during 1884, to $60,000,000 bushels, policies in such way as to prejudice and with the exception of Russia efforts which exporting coun And the Danubian States to reduce tries are making in the common in their production by 15 per cent. rest to restore the price of wheat The agreement is to be in force for a remunerative level.” two years

In regard to the figure of 63.08 American Proposal Defeated. gold cents per bushel, inserted in There was a proposal from the final agreement, the Inder America that the price level quesKrace for the week ending August

B

Mr. Merit N. Cooten has been rection should be left over to be deter 16 was, on this calculation, 65 gald cognised, provisionally

and pending mined by the Wheat Advisory Comcents, and it is now between 50 and

the fatne of Fila Majesty's Exequatur, mitten, which in being set up

as Vice-Consul for the United States London, and the Italian representa

America in Bong Kong,

(Continued

Paga

KIDNAPPED 300,000 Yen Demanded By Bandits,

Harbin, To-day?" Mr. Simeon Kaspe, aged 24 years, son of the wealthy own- er of the Hotel Moderat, bere, was kidnapped at midnight by bandits, who are demanding 300,000 yen ransom,

The victim is a well-known pianist in the Far Exit." He is

man by birth but i a pa Alised Frenc

Pacific Servi

The amount purchased was not comparatively large but is inter preted to mean the inauguration of a definite policy to expand credit.

other step will shortly be some re- cognition of the world value of (Continued on Page 4)

TREASURY ISSUE OF

£45,000,000.

Percentage Rises.

Moscow, To-day, The Serial Manchukus nego- tiations at Tokyo for the sale of the Chinese Eastern Rail- way are almost at a deadlock. Manchukuo still adheres to the suggested price of 50,000,000 yen, contending that this corres week's applications for ponds to the aum of 200,000,000 gold tenders for Treasury Bills totalled roubles asked by the Soviet. The £75,415,000. The amount allotted contention is based on the exchange.

This

London, To-day,

In bills at three months was £45,000

000verage

The average rate per cent of the tender accepted was 7/1,64d compared with 6/1,084 last week,

-British Wireless Service.

rate of 25 sen to one gold rouble.

The Soviet have expressed their willigman to discuss the change rate question, but are most dissatisfied with the foregoing Man- chukno suggestion. - Banter,