1933-10-31 — Page 1

Put

these

hefty

trucks

BEDFORD

MADI” IN. ENGLA MU

on Your work

eme

The dollar, on demand, closed

to-day at 1/4 7-8.

FINAL EDITION

China Mail

Eat: 1845.

Eat. 1843.

THE OLDEST - ESTABLISHED NE ISPAPER IN THE FAR EAST

Tel. 27778.

No. 28,561

HONG KONG, TUESDAY, OCTOBER

31, 1933. PRICE $3.00 Per Month

HONG KONG HOTEL GARAGE.

STUBES ROAD.

ZAMBRENE WEATHERPROOFS

ARE

Superior.

BERNARDS' OF HARWICH. Outfitters.

CHAÏER ROAD,

HONG KONG.

SECRET CURRENCY TRUCE REPORTED BETWEEN BRITAIN AND U.S.

MONETARY PEGGING OF DOLLAR

ANGLO-AMERICAN

CO-OPERATION TALKS

U. 5. Experts And Sir Frederick Leith-Ross Discuss Programme

SPECIAL TO CHINA MAIL,

(Bu Telegraph. Copyright, Telepro pkie Messger Gedinance, 1894. Ter. ceived October 1, 19.12 p.)

Washington, Today.

Discussion o apsible pro-

gramme for monetary

tion between the United

and Great Britain,

stood, was eluted

haur conference

Frederick

co-opera-

States under-

in the Dwn-

het waren.

Leith-Ross. Chief

Fronomic Adviser to the British

Government. Mr.

Black, Governor the Federal Reserve, Mr Dean of the Acheson, United States Under- Treasury, and Secretary of the

The United other

-- United State Administration. Press, po S. C. Guld Bar Co.

memirers

of

W.E.C. MAY

MEET AGAIN

ON CURRENCY British Bankers Fear Monetary Chaos,” GOLD STANDARD DOOMED?

London, To-day. The financial expert of the London "Daily Herald," in an article to-day, declares that British bankers are urging the re-convening of the World. Economic Conference for the purpose of reaching a new currency agreement as the re- sult of the uncertainty President Roosevelt's new gold buying programme.

over

The writer further asserts that the leading British bank- ers believe that currency chaos if President 16 inevitable Roosevelt's programme con- tinues.

He adds that important in- ternational problems will be created and that the remaining gold nations will be force off the gold standard unless some

agreement international reached.--United Press, S. C. Gold Bar Co.

ENGLAND TO

AUSTRALIA

12

per

AIR SERVICE

AND STERLING

WASHINGTON REPORT

OF AGREEMENT

WILL PERMIT GOLD PLAN WITHOUT UPSETTING BRITISH TRADE

NEW YORK, TO-DAY.

A SECRET ANGLO-AMERICAN CURRENCY TRUCE HAS BEEN REACHED, ACCORDING TO THE WASHINGTON COR- RESPONDENT OF THE "CHICAGO TRIBUNE."

He states that after several hours" negotiations be- tween Sir Frederick Leith-Ross, Chief Economic Adviser to the British Government, members of the Federal Re- serve Board, and the United States Treasury, a basis of a tentative agreement was reached.

It provides for pegging the exchange value of the pound and the dollar in relation to each other. The correspondent adds that this means truce which will enable President Roosevelt to pursue his gold pur- chase scheme without upsetting British trade. Reuter.

ANGLO-AMERICAN RETURN TO GOLD

CO-OPERATION?

Foreign Gold May Be Bought To-morrow.

Washington, To-day. Moves by the United States Administration for

understanding with Great Britain on the gold made last Hituation, night.

were

STANDARD

Pittman's Version of New Plan.

SILVER, ADVOCACY

New York, To-day. Renator Key Pittman, Chair- man of the United States Relations Scraté -Foreign

hailed the Committee, has gold-purchase plan as presag. ing permanent stabilisation of currencies and a return to the gold standard, lo a limited extent, by all nation.

An attempt to assassinate Dr. Dollfuss, the Austrian Chancellor, was made in a corridor of the Parliament building at Vienus on Oct. 3. A young man named Rudolf 'Dertil approached with two letters, which a detective look. As Dr. Dollfuss turned away, Dertil drew a revolver and fired twice at him. Happily, the shots were ineffective, causing only slight injuries. The assailant was well- ed by the police.

Cardinal Innitzer at the Chancellor's bedside ai bis home, after Dr. Dollfuse had been treated for his wounds. The Chancellor described his injuries as a “cushy blighty." (At right).-Dertil.- ($. & G.).

PALESTINE

QUIET AFTER

ARAB RIOTS

Jewish Emigration From Germany.

EXCESSIVE NUMBER FEARED

Londen, To-day. According to repófis reach- Ing London, the situation. In Palestine yesterday, was quiet, though some tension still exists after the riota of the week-end.

FRENCH PLAN

BILLION TO BUY GOLD

WASHINGTON-

STUNNED BY

GOLD ORDER Opinion Divided On Currency War. POSSIBLE - ANGLO-AMERICAN CO-OPERATION

SPECIAL TO CHINA MAIL (By_Telegraph, Copyright. Telegra phie Messages Ordinance, 1894. Re- ceived October 31, 9.47 a.m.)

Washington, To-day. The suddenness of the decision

to buy gold

abroad. has stunned

*

Washington, since it was

SOVIET CONSULAR OFFICIAL'S FOR CHANGES IN believed that President

MURDER IN POLAND

Ukrainian Student Sentenced To Life-imprisonment

Warsaw, Tu-day,

An Ukrainian student, Mikolaf Lemyk, was yesterday sentenced to imprisonment for life for the murder of an official of the Soviel Consulate at Lwow on October 22. Lemyk is alleged to have con- fested that he was an agent of terrorist organisk- an Ukrianian tion-Revlar.

JACKIE BROWN BEATEN

Points Decision For Midget Wolgast.

Yesterday morning, the High In order to further the quest.

Commissioner, Lt-General Sir Sir Frederick Leith-Ross inter-i

advised Arthur Grenfell Wauchope, visit- rupted the war debt talks to con-

He states that he has Mr. Dean Acheson, President Roosevelt to increase silvered the Government Hospital in fer with

Jerusalem, to which those wound- BEST FIGHT FOR YEARS Under-Secretary of the United prices proportionately to the rise in

London, To-day. States Treasury and Mr. Black, gold prices.

"If the President will not do that, ed in Sunday's disturbance had, Chairman of the Federal Reserve I shall introduce a Bill at the next been taken.

Midget Wolgast, recognised in January, session of Congress, in

The formal opening of Haift some States in America as the outpointed champion, Board.

Meanwhile, President Roose- providing for free coinage of Ameri-

can silver ut a 16 to one ratio, and Harbour, fixed for to-day, will world's velt's "aides” are prepared for

it will be passed overwhelmingly," take place, butu the ceremony Jackie Brown, official world's flyweight boxing champion, over has been curtalled. shroud by to- he declared.---Reuter.

12 rounds in a non-lille bout at gold purchaseя

the Albert Hall last night.

morrow at the latest.

The

Federal Reserve Board WHOLESALE PRICES

DECLINE. held two long sessions yesterday. President Roosevelt received

Mr. Harrison, Governor of the Colony Figures For Third

New York Federal Reserve Bank yesterday evening.

-Reuter.

PLAN.

Link With Singapore Other Means To Be Tried

If It Is Unworkable. Before 1934.

NORTH ATLANTIC PROJECT

PROGRESSES

London, To-day.

Quarter.

As measured at the Statistical

It would appear that the recent trouble largely origin. ated" in a mistaken bellef among the Arab population that the events in Germany had led to the admission to Palestine of an excessive number of Jewish emigrants. The facts are, that emigrants

̧¡COMMODITY DOLLAR office of the Imports and Exports of all nationalities are controlled Department, wholesale prices in by the Palestine Government, Hong Kong during the third Quar-particularly as regards those. creases of 4.8 per cent, as compar of whom are regulated, not by ter of 1933 showed, on balance, de- seeking employment. numbers ed with the second quarter, and conditions in other countries, but 9.0 per cent, as compared with the by the capacity of Palestine to profitably absorb additional la- first quarter of this year,

British.Wireless Service.

Wide Powers For Administration.

New York, To-day.

As compared with the averages hour.. The majority of the so-called "Conservative Wing" of the United for previous years, there was a de- States Administration, irrespective, cline in, wholesale prices of 18.5 of their views on the commodity per cent, as compared with 1982; Presiding at the General Meeting dollar plan, have promised President 20.9 per cent as compared with of Imperial Airways Ltd. yesterday. Roosevelt that they will keep silent 1931 and 0.2 per cent as compar the Chairman, Sir Eric Geddes, re-until the advocates of the plan have ed with the base period of 1922. : ferred to the extension of the Eng-had an opportunity to prove their] land-India route to Australia. Heltheals.

said that the service had been ex- tended from Karachi to: Rangoon and by the end of December would]

be operating to Singapore.

The Australian Government, hej

said, had assumed responsibility

If the experiment proves unworkable, President Roose» velt is ready to try other ex- pedients to raise the domestic

· price level gradually-Reuter.

for establishing a line from Singa-NINE STRIKE AGREEMENT:

pore to some point in Australia;

and has decided to invite, tendera

Washington, To-day.

CHINESE MINISTER LEAVES BERLIN.

for the carriage of air maile over. A virtual agreement in the “cap-|| night......... that section of the line,

Fond Of German

Capital.

SPECIAL PROCLAMATION.

Jerusalem, later,

It was the fastest and best! fight seen in England for years. both men showing magnificent generalship ringcraft, speedy footwork, and hurricane punch- ing.

Wolgast flashed in sting. ing lefts to the face with He several telling effects. times staggered Brown, who the occasionally rushed American to the ropes where he dealt out heavy

Reuter. punishment

(Continued on page 12.)

Vince Dundee Wins World Title.

LOU BROUILLARD OUTPOINTED

IN BOSTON.

Boaton, To-day, Vince Dundee won the world The widest possible powers, in middleweight boxing title fast cluding the arrest court martial night when he beat the holder, Lou and deportation of offenders, will Brouillard, on points-Beuter. be vested in the Palestine Ad-Lou Broufflerd won his title less ministration from to-day under than three months ago and retired. special proclamation for securing as the unbeaten welter holder in

1981 public safety-Renter

Berlin, To-day. The retiring. Chinese

VIRTUAL MARTIAL LAW Minister at Berlin, Mr. Lien

IN PALESTINE Wen-tao, left for Rome last

Jerusalém, To-day. - He was seen off, at the station Live" mines (those in which all pro-

Palestine, is virtually in a state aducts are absorbed by iron and steel by all the. Legation officials, and Imperial Airways had made

Antion I greatly improved, there.:: I concordat, with the Queensland companies) strike in Pennsylvania, representatives of the Foreign of martial law. Although the alton- and Northern Territory Aerial has been announced by the White Office, Te

Mr. Lien Wen-tao said that it still considerable tension. Services Limited, of Brisbane, for House. aut

very on normal business throughout, the the formation of a joint Company. It is stated that the employers was most unwillingly that he The Jew, however, are carrying to tender for, and, if successful, to have practically agreed to a check was leaving Berli operate the Singapore Australia,off arabam whereby Trade Union fond of the city, not only as a country. They are very confident

fees are deducted in advance from capital but also an a section.

Art Beuter.

(Continued on Pão

the meng' wages. (**)

tee of of the Government's ability to com- trol the situation-Reuter.

Reuter,

TARIFF “WAR,”

France Retaliates Against Brazil.

Paris, To-day. A surtax of 100 per cent. ad- balorem is to be imposed on all Imports from Brytil as a reta. liation for the similar taxi imposed by Brazil on French Goods-Reuter,

FISCAL LAWS Roosevelt would give the domestic gold plan an extensive trial,

Sarraut's Efforts To Balance Budget. DEVELOPMENT OF COLONIAL EMPIRE RESOURCES

Paris, To-day The new French Cabinet, at its first meeting, yesterday, men ously approved a draft declaration

for presentation to the Chamber

of Deputies, on Friday.

The

Premier,

M.

It is reported, but not Confirmed, that the Gov- ernment will make pur- chases immediately, and that it will also sell dol- lars in the world market to depreciate them.

Wall Street is speculating on the possibility of a vast gold war be- Albert tween the United States, Great Bri- Sarraut, is then expected to an-tain and France, while others be nounce the early presentation of lieve that stringent efforts will be kn ambitious scheme, to assist taken to prevent such a struggle, economic recovery by utilising all the resources Colonial empire.

He may also announce the elaboration of a new plan of national work and also his intention of effecting import- ant changes in the present

Renter. fiscal laws. -

of the French reiterating the hope that Anglo- American co-operation, through equalisation funds, will maintain the currencies at a steadier level.

believe observers Gold that France and other na Lions might be forced off, gold, thus placing the con trol of the world's money and commodity price levels in the hands of the nationa with the most powerful resources.. It is believed that heavy pur chasing will cause foreign to dopt protec tive measures such as embargoes. and the abandonment of the gold standard.

(Continued on Page 7).

JAPAN READY

TO SCRAP ALL

SUBMARINES countries

If Other Powers Do Likewise. AIRCRAFT-CARRIERS ALSO

London, To-day. Japan, is ready to scrap all her sub- marines provided the other Powers follow suit, and her aircraft Carriers will also be abolished, according to the London “Daily Telegraph's" naval correspondent, who has been informed from a reliable

source.

He adds, that with Britain, the United States and Japan agreed on the abol- ishment, the possi bility of eventual international out- lawing of submar ines will become less remote than hitherto Reuter.

The Reconstruction Finance Corporation has U.S.$1,000,000, 1000 for immediate use in for

eign buying. This is believed sufficient to force the dollar down" to any level the President de aires, and thereby adjust prices to 1924-26 levels.

It is believed that the New York Federal Reserve will con

United duct the purchases, Press, per S.C. Gold Bar Co.

FRENCH PILOT IN COLONY. Quiet Flight From Hanoi,

VICOMTE SIBOUR'S PLANE

Piloted by M. Strom, a French airman, the plane belonging to Vicomte Jacques de Bibour, arrivä In the Colony yesterday, M. Stre accompanied by three of l

countrymen, SAS

It is understood that the Vicomb Bibour is at present in French Indo China, and will be coming to the Colony later in another plane.

The party who arrived here yer terday afternoon are making a pur ly private fight, and

They left Hanol early yesterda morning, asking a direct fights the Colony. The plans leaves, Foochow to-morrow morning,