1933-11-24 — Page 1

The

new

BEDFORD

TRUCK

THE

HONG KONG HOTEL

GARAGE

The dollar, on demand, closed to-day at 1/4 11-16.

FINAL EDITION

China Mail

Est. 1840.

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

raxy,

Est. 1845.

No. 28,582

HONG KONG, FRIDAY, NOVEMBER

24

1933.

PRICE $3.00 Per Month.

Supreme Court

Down

GENTLEMEN'S HIGH GRADE OUTFITTING

AT HOME-PRICES

BERNARDS OF HARWICH

CHATER ROAD,

HONG KONG.

FRENCH GOVERNMENT DEFEATED

Mr. Henry Morgenthau, Jr.

SAMUEL INSULL

IN GREECE Extradition Demanded By U.S. Government.

THREATS OF REPRISALS IF

GOLD-BUYING POLICY

ROOSEVELT

CONFERS WITH

LEAGUE STUDIES JAPANESE

AND CHINESE PROBLEMS Not Concerned With Soviet- Japanese Difficulties

London, Today.

In the House of Common, yes.

U.S. OFFICIALS terday, the Labour member

Financial Survey

To Be Made.

PRESIDENT MAY ANSWER SPRAGUE

SPECIAL TO CHINA MAIL.

(By Telegraph, Copyright Telepro whee Mesanges Ordinance. 180L. "Re- crived November 24, 6.36 am.)

Warm Springs,

To-day.

for

Gower Glamorganshire, Mr. David Grenfell, suggested the convening of the League Committee appoint. ed to watch the Far Eastern deve- investigate the lopments.

between the

strained position Soviet and Japan.

The Under-Secretary of State for

Captain Foreign Affairs, Anthony Eden, explained that the Committer WAA concerned with Chinese and Japanese difficulties, not with Soviet and Japanese pro- blema-Reuter.

DEPRECIATION OF U.S. DOLLAR British. Trade Not

Much Affected.

Due to the conference between the Acting- Secretary of the United States Treasury, Mr. Henry Morgenthau, and INDEPENDENCE OF STERLING TO President Roosevelt, ar- ranged for to-day, some observers believe that the question of tinuing the gold-buying|

con-

BE MAINTAINED

ON SALARY-CUTS PROPOSALS

MONETARY CONFUSION

DIVERGENT

OPINION ON

U.S. POLICY

Government Bonds Firmer.

SPECIAL TO CHINA MAIL. (By_Telegraph, Copyright. Tdigra- hie Mersagen Ordinance, 1894, Ra- erived November 24, 11,07 a.m.):

New York, To-day,

United States bonds firmed yes- terday. This is especially due to Mr. Henry Morgenthau's statement that the Government would con tinue to support Federal securities.

Monetary confusion dominates the market. Traders predict only desultory trading until some clari- fication is secured.

The Wall Street Magazine atates that facts do not justi- fy the fear that the Govern- ments credit is in imminent danger.

London, To-day.

Government bonds have mo far

Average of thras Answering a Parliamentary ques- declined an

four per cent. from the year's tion yesterday, the Chancellor of High levels, whereas there have been much sharger declines in

NOT DEPORTED policy may now be deter- the Exchequer, Mr. Neville Cham-

Athens, To-day. « Įmined;

to deport Samuel, Loull, the

other securities

berlain, said that, according to such

increased Taxation 7 - Wars and tenue-aunt; ba-found Significance is attach-information as find reached him, the

Senator Mickson, writing in the American financier wanted ored by the fact that the depreciation of the American dollar had not up to the present seriously fraud charger teprisals are head of the National Re-

Review of Reviews, states that the affected British trade. threatened, is the gist of an intima.

United States is adding billions of Administration. He was carefully watching the dabits to the already crushing load Lion from the United States Gov-covery ernment to the Greek Government. General Hugh S. John-situation in all its aspects, he said, and is heading for insolvency. following "unsatisfactory" reasons son, the Secretary for and consideration would from time "We are no longer-a going cof Interior. Mr. Harold L. to time be given to the question cern. We could not liquidate and Hable information, in which it is Ickes and Mr. Hopkins whether, and if so what, action was pay debts," be declares:

necessary in the interest of Great are also arriving here Britain.

for

the non-extradition of the financier, according to most

re-

pointed out that there are 600,000|| Greeks in America.

The Greek Government considering how to fulfill these demande sat'sfactorily, but il

is feared that the deportation

of Insul may be misinterpret- ed as the result of his política! opinons, which are hosills to

the present Government.

It is reported that Insull's an nuity of $21,000 from hie Utility Companies has been cancelled-- Rester.

He predicted an increase in taxa- tion-luited Press," per S C. Gold Bar Co.

Policy Criticised.

during the week-end, for The Chancellor said, in reply to conferences. United another question, that he had every Press, per S. C. Gold Bar reason to suppose that the policy of maintaining the independence of [Co.

SPECIAL TO CHINA'MAIL... sterling is approved by British |

(By Telegraph Copyright. Telegra. manufacturers and exporters.-phic Messages Ordinance, 1894. Re.

celund November 24, 11.07 a.m.) British Wireless Service.

"NO CHANGE IN POLICY."

SPECIAL TO CHINA MAIL (By Telegraph, Copyright. Telegra phie Merages Ordinance, 1894. Re

BAILLIE STEWART rived Noverber 24, 1107 a.m.)

SENSATION

"False Confession" In Prison.

QUESTION IN COMMONS

London, To-day.

A remarkable letter from ex- Lieutenant Baillie Stewart-to his parents asserting that he made a false confession under promise of release from prison and denying that he was a Ger- man spy wus the subject of questions in the House of Com mons yesterday.

Warm Springs, Later. United States Administration sources have reiterated that no change in the monetary policy is contemplated.

"GOLD STANDARD THE ONLY CURE"

Warburg Disagrees With Roosevelt.

WHY HE RESIGNED

SPECIAL TO CHINÁ NAIL. It is asserted that the forth- (By Talegraph, Copyright. Telepra coming conference between Pre-phie Message Ordinance, 1884, R sident Roosevelt and Mr. Henry cotved November 21, 8.14 p.m.) Morgenthau is merely routine.

Observers, however, ex- pect that they will survey the Governmental financial position, particularly the re- sulls of the gold operations.

Philadelphia, Yesterday.

Mr. James Warburg, the interna-

Washington, To-day,

His Excellency the Governor, Sir William Peel; ECM.G K.B.E, distributing the prizes after the Hong Kong Fire Brigade's annual drill display, held at the compound of No. 2 Police Sta- tion,, Wanchal, on Wednesday af ternoon.

SHIP SCUTTLED IN FRANCE CAN STAY

LONDON DOCK

Big Blaze Averted By Drastic Action.

FIRE ON FRUIT STEAMER

London, To-day.

In consequence of a fire which broke out in the bun- ker hole of the British steam- ship, "Jamaica

"

ON GOLD Supply Of Metal Is Sufficient.

M. SARRAUT RESIGNS

FRENCH

CABINET

DEFEATED

POLITICAL CRISIS RENEWED.

3

CLOSE VOTE IN CHAMBER OF DEPUTIES

Paris, To-day. The 30-day-old French Government, under M, Albert Sarraut, was, de- feated early this morn- ing, and has resigned.

An earlier message from Paris indicated that the Government had been defeated on a vote of confidence on the first The best opinion in London is of two critical votes, by that France will not be dislodged

London. To-day,

from the gold standard, declares 327 votes to 326, in the the Financial Tines to-day. Chamber of Deputies.

The outflow" of gold from the Reuter.

while lying at East InterBank of France could reach real-

London, it was yesterday found necessary to sink her.

She is a vessel of 7,472 tops owned by the Jamaica Direct Fruit Line, Ltd., having been in service since 1910. TRADE AGREEMENTS FORESHADOWED. Lithuania, Latvia And Estonia.

London, To-day. The President of the Board of Trade, Mr. Walter Runciman, said yesterday that it was intended to negotiate commercial agreements with Lithuania, Latvia and Estonia in the near future, but the date for

The Federal Reserve Advisory the opening of formal negotiations tion of full sympathy with the Ad-Wireless Service

Council yesterday passed a resolu- had not yet been fixed.—British

ministration's general purposes,

but attacked its monetary methods, FILM SENSATION.

stating that the fluctuating of des

pressed currency will not schlere Wm. Fox Names Bankers

As Conspirators.

their purposes.

The Council recommended a re turn to the gold basis.

It also said that higher prices are beneficial only if accompanied by a higher natural income due to increased business-United Press, ver 8. C. Gold Bar Co.

Lional banker, and financial adviser DOLLAR TOO STRONG

to the American delegation to the World Economic Conference, on Wednesday made' an unscheduled speech attacking the President's

It is learned that the Pre-monetary policy. sident's speech, to-day, will bo

Mr. Warburg 'revealed that he re-

ON EXCHANGE.

U.S. Depreciation "Justified.

OWED $83,000,000.

Washington, To-day," The story of a sensational conspiracy with which he con- nected his loos of the control

Formsed on Betober-27, |ly Targe dimensions without itself |

impairing, the ability of the ing the defeat of the Dalader Cu- country to retain her position at binst the Sarrant Government the head of the gold bloc.

followed the lines of the Rodical If it could be regarded as a Socialist combimations adopted by purely financial problem there

the three previous Govermente. would be no need to worry over

DEFEAT ON FINANCE

BILL.“

the future of the franc or to ap prehend any weakening of its attachment to gold, the news-

Reuter. paper states.

FRANCE, MAY MEET DEMANDS.

Reduced Taxes On British Imports.

Civil Servants' Salary Cuts Proposed.

Paris, Later. After being defeated by 826 votes to 427 on a motion from the Right Wing for the suppres- afon of the Article in the Finance Bill, imposing cuts on civil ser- vants' salaries, the Government was defeated by 821 votes to 427 It is learned, unofficially, that on the Socialist amendment to the the Article proposing to raise the the Government may abolish

limit of exemption below which two, four and alx per cent. tax on the cute would not operative from

Paris, To-day.

imports and exempt a large number. Frs. 10,000 to Fra. 12,000,

J

of important British products The vote was made a motion

Reuter. from the 18 per cent. surtax while of confidence,

The defeat was followed by a maintaining the principle surtax witty denunciation of the Socialists In order to meet the British de- the Premier M, Albert Barract and mande as announced by the Frasi a vigorous speech in suppor of the dent of the Board of Trade, Mr. Government by M Herriot, a Walter Runciman, in the House of former. Premier, which appeared to turn the tide in the Govern- Common, yesterday.

ment's favour.

of Fox Film theatres was "yesterday, told by Mr. Willia

The French Government is op

The successor to the Premier- For to the United States

posed to the total suppression of

ship will be hard to find The Senate Stock Market Investigate tax, which would cost the most likely candidates are M. Hon Committee,

Mr. Fox named Mr. Harly Treasury Frs. 100,000,000 annually Chautempa, M. Herriot and M. Clarke, to whom he sold his con-on British imparts alone Renter, Daladier, all of whom ara Radical

ex-Premiers. trol, Mr. Albert Wiggin, former SPECIAL TO CHINA MAIN

[Chairman of the Chiese Bank, and (By Telegraph. Copyright, Telegra-18 banks, as conspirators wkin Messages Ordinance, 1894. Bar ceived November 21, 8,81 mm.)

brief, dealing mostly with the signed from the World Economic Warm Springs Foundation, for Conference delegation because he... In reply. Mr. A. Duff Cooper which he will dedicate a build disagreed with the Administration's Financial Secretary to the War

ing, Office, stated that ex-Lleutenant

monetary experiments.

He said that only the gold. standard would overcome the depression.

Baillie Stewart made his confts- Some, however, anticipate that slon voluntarily to a representa- he will outline his monetary pre- tive of the War Office, initialled gramme in greater detail and each page, and signed the docu- perhaps, answer Professor ment, the Governor of the prison Sprague, although his advisors currency system will work sutlafoc-

being witness.

The Secretary of; ate de cided that it was not in the public interest to disclose. the document; ~ the state- ment that Balllis, Stewari.. was induced to make the confession by a promise of release was absolutely un true.

deny this. -

United Press, per 8. C. Gold Bar Co..

Gold Purchases Total $8,500,000,

Washington, To-day,

The Chairman of the Re tion Finance Corporati There were no contradictions Jones, yesterday announbed of the facts and no new evidence Corporation had so far, calling for a re-opening of the shout U.8.88,500,000- case. Reuter,

I meetle gold-Rauber.

Furthermore," he continued, "no torily except in conjunction with a smoothly functioning banking and investment system.”

I do not believe there is, such a thing as a dollar of constant pur chasing power, "^he..., sald.,

Mr. Irving Fisher, and Senator Thomas, of Oklahomay before the Amer

New York, To-day, Professor James Harvey Rogers, one of President Roosevelt

the United Staten

Adminis

WEATHER REPORT.

When forced to sell out, he owed U.S.$98,000,000 including US.$20, Fine generally, with moderste 000,000 for investments in the north-easterly winds, in the forecast Gaumpat British film concern issued by the Royal Observatory

to-day Reuter,

Parachutes Save R.A.F._______

The month-old Barrant Gov- ernment never had a very vigorous existence and foun- dered on the same fatal Vock as M. Daladier.

Attacked by the Bocialists, the Government had little chance of pawer/ziniosari ròinforced- the Centro, E.

Lobby opinion after the de- feat was that M. Chaupympi· "will"

the

Pilots After Mid-Air Crash form Gariel: Government

two Boyal Air Force

London, To-day,

Left, which has little chance of

made a safe landing by para-survival, but will open the road to the concentration of a Government

ided at 6,000 feet over Schuter

lay, one landed un

the:

ther was put

crashed.

Heutenant

Fout and

to

An air accident also occurred under M. Herriot or M. Daladier. a private machine near which, will alone have sufficient au- Brooklands, both occupants land-thority to obtain the votes neces Ang safely by parachute. Bri-sary to balance the Budget. tish Wireless Servi

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