1934-01-19 — Page 1

BEDFORD

MADE I

ENGLAME

The British

TRUCK

--THE HONG KONG HOTEL

GARAGE.

The Hour Kơng & Shanghai-

Hotala, Ltd

Incorporated in Hong Kong.

hhi Road. Happy Valley.

Economical 27-h.p.- 6-cylinder engine -reducing vibra- tion, reducing engine-wear, reduc- time-off-the- road, reducing ex- penses.

The dollar, on demand, clo

to-day at 1/8)

FINAL EDITION

China Mail

Ert. 1845.

Est. 1845.

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

No. 28,628

HONG KONG FRIDAY, JANUARY 19, 1934. PRICE $3.00 Per Month.

Cour

BERNARDS OF HARWICH.

CONSULATE SHIRTS & PYJAMAS LILLEY & SKINNER FOOTWEAR :

· ROLLS RAZORS & WOLSEYSE, KNITWEAR : MACCLESFIELD SILK. NECKTIES: MOORES FELT HATS.“

CHATER ROAD,

HONG TRONG

BRITAIN'S BUSINESS RECOVERY ONLY "A FLASH IN THE PAN"?

U. S. LIFTS DISCRIMINATORY DUTIES ON SOVIET SHIPS

President's Proclamation

Made Public

SPECIAL TO CHINA MAIL

By Telegraph. Copyright. Telegra phic Merungen Ordinance, 1891. Rr. ceived January 19, 8.39 a.m.)

Washington, To-day,

The American State Department has made publie President Roose- velt's proclamation discontinuing the discriminatory duties and im pats levied on Soviet ships touch- ing the United States.-United Pross, per S.C. Gold Bar Co.

U.S. POLICY IN FAR EAST

NO RECOGNITION OF MANCHUKUO.

TO BE A GOOD NEIGHBOUR, STATES OFFICIAL

Washington, To-day. The first explanation of the United States Far Eastern po- licy by a responsible member of President Roosevelt's Ad- ministration was made by Mr. S. K. Hornbeck, Chief of the State Department's Far Eastern Affairs Division in a speech, yesterday.

He stated that America would make every legitimate. effort to be a good neighbour to the Far East by projecting the Rooseveltian concept of international relations already in force in Latin-America in- to the Pacific.

The Stimson formula of non-recognition of Govern- ments made by swords was still the United States policy, he said.-Reuter.

STERLING DECLINE

CAUSES DOUBTS

INVESTMENTS SWITCHED

TO AMERICA

FRENCH TRADE WARS MAY LEAD FRANCE OFF GOLD STANDARD

SPECIAL TO CHINA MAIL

(By Telegraph, Copyright, Telegraphic Messages Ordinance, 1894*

Received January 19, 9.35 a.m.)

LONDON, TO-DAY.

AT STERLING, AT 11.30 YESTERDAY MORNING STOOD $5.03% AND 791⁄2 FRANCS. THE FLIGHT OF STERLING TOWARD THE DOLLAR AND FRANC IS ATTRIBUTED CHIEFLY TO TWO FACTORS:-

Firstly, the sudden switch of British financial opinion from the deepest pessimism to the rosiest optimism, with the exception of a few reactionaries, and secondly, dawning fears that the re- cent speeding up of industrial activity in Britain may be only a flash in the pan, not necessarily the beginning of a permanent re- covery.

•

It is learned that the Director of a hage British in- vestment Trust, after survey of the conditions of the Bri- tish heavy industries in the Midlands, decided immediate- ly to switch three-fourths of the Trust resources into United States securities, retaining only one-quarter in British securities.

·

Responsible opinion believes that sterling depreciation, coupled with French trade wars with Germany, Italy and Britain, will eventually force the French to suspend the gold standard-United Press, per S. C. Gold Bar Co.

FOREIGN EXCHANGE U.S. STILL BUYING

BATTLE

Pound Slumps After Keen Duel.

New York, To-day. The sterling-dollar duel was a feature of the foreign ex- change market here, yester- day, and ended in the pound closing at 4.96 as compared with 5.03 on Wednesday.

GOLD.

Treasury Accumulates Huge Stocks.

SPECIAL TO CHINA MAIL.

200 dead in appalling French Railway disaster at Christmas. One of the worst railway se cidents ever known, occurred at Lagny, near Paris, on the night of December 23, when in a dense fog, the Paris-Strasbourg express, travelling at 65 miles an hour, crashed in the standing Paris Nancy train, the last four coaches of this train being telescoped. The death roll was over 200, while over 300 were. Injured.

One of the wrecked 'engines and some of the wrecked conches.~~(S. & G.).

FREE STATE AND AMERICA

Trade Possibilities To Be Examined.

New York To-day

Mr. Michael MadWhite tih, Irish, Free State Minister to Washing ton announces that Mr. Jalm Lepe den, Secretary of the Free State Department of Commerce and In-

dustry, who has arrived in New

York from Dublin, is going [16] Washington next week to the study |United States machinery, market-in

HAVANA WITHOUT LIGHT, GAS AND WATER

| New President Takes Office Amid Wild - Enthusiasts

Havana, To-day.

The situation in Cuba has been. further complicated by the light.". “'ning_` strike yesterday morning. which resulted in depriving Havana of light, gas, water, and, transport..

It did not, however, damp the wild enthusiasm when Colonel Mendieta took office as President, at noon.Beuter.

FUKIEN IN

CONTROL OF

NANKING

20 Warships Along The Coast

NINETEENTH-ARME÷

BROKEN UP ·

Shanghai, To-day' Peace and order have been restor ed in Foochow, declared Admiral Chen Shao-kwan, Minister of Navy,

y Telegraph, Copyright, Telegra consequence of the Free State's HITLER TOO BUSY on his return to Shanghai this morn

whic Messages Ordinance, 1894. Z relvad January 18, 8:30 am)

Washington, To-day.

plans to establish factories along the River Shannon. ---

The United

He will: chiefly, investigate the States Treasury Secretary, Mr. Henry Morgenthau, possibilities of the extension of the yesterday stated that America would United States and Free State com- | The slump in the pound is at-pay only $20.67 for gold, which merce and will also study the tributed mainly to the low maxi-French bankers shipped to New wheat market and whether the DETAILS OF U.S. GOLD]mum valuation of the dollar, and York, as a test price payable for Free State could advantageously

the fear of self-defence measures foreign metals, TRANSACTIONS.

bùy 2,500,000 tons of American

Washington, To-day.

by Great Britain and France: A stabilisation fund would not so coal annually-Reuter.

Slight repatriation of Ameri-established until Congress passes Up to last week, when the gold can capital and moderate foreign legislation, he said,

investments in American securi- purchases by the Reconstruction

Finance Corporation ceased, the ties were other factors of a heavy gold to the Treasury continues as

amount bought by the Corporation totalled U.S.$131,674,604 of which U.S.$108,307,850 Wes bought int London and Paris.

The attitude of the Federal Re- serve Board on the question of taking over the gold was explained by Mr. Eugene Black, to the Senate Banking Committee,

While the Federal Reserve Board

market, Reuter.

He said that the heavy dow of

the result of the anti-hoarding cam-

TO SEE HIM

Unpopular Primate Rebuffed.

BISHOP MUELLER WAITS FOR 70 MINUTES

ing on board his flagship, "Nin

hai

BRITISH

SUPPORT TO

FRANCE?

IN EVENT OF GERMAN AGGRESSION.

FRENCH SENATORS". ́BELIEF

Paris, To-day.

"There is no question of re ducing the French Army when other countries are re-arming. A rédaction in armaments could only be carried out is a future general convention, declared the French Premier.. M. Camile Chautemps, reply. ing to the Foreign Affairs. De- bate in the Senate, in which the speakers expressed the conviction that “Great Britain would support France in the event of German aggression.

After the Premier's assur ance, the Senate passed a vote of confidence in the Govern ment by 257, yotes to 3.—— Reuter.

PRINCE GEORGE'S

To Visit

TOUR.

advised that Bl George Bas' approved” “of Prince George visiting New and after his visit to Australia, |nextTM Autumn.--Beatar.

PU YT CORONATION.

Definite Pronouncement -

To-morrow.

Tokyo, To-day. The first definite pronouncement

Admiral Chen said that the Navy in controlling affairs be tween Foochow and Amoy, twenty warships being stationed

He asserted along the coast. that the Nineteenth Route, Army had been broken up. Part of it concerning the projected elevation was disorganised, part had sur of Mr. Henry Pu Yi as Emperor rendered to the Government of Manebakuo will be made at Changchun at 5 pm. to-morrow, by the Premier of Manchukuo, Mr. | Cheng Haiso-heu.~Reuter.

DRASTIC DUBLIN busy yesterday to see the troops, and the others had either

ECONOMIES

Berlin, To-day. "Chancellor Hitler was "Loo

Nazi Primate, Bishop Muel ler, to discuss Church affairs. 1 It was Bishop Mueller's spokes-

paign. The Treasury had already FAST LEGISLATION taken over U.S.$120,000,000 worth Salary Cuts From 5 to 25 man who informed the press that

of gold from the Reconstruction Finance Corporation.

ON GOLD BILL.

U.S. Anxious To Start Stabilisation Fund.

SPECIAL TO CHINA MAIL...

The Federal Reserve Bank of New York was still buying foreign. gold, but he declined to divulge, the amount United Press per 8. C. Gold Bar Co.

*

Per Cent.

PROPOSAL OPPOSED

Dublin, To-day

deserted or joined the South,,

He added that the Govern- ment forces were determined to press their advance and Herr Hitler had seen the Bishop. clean up the remnants. ⠀⠀

It later transpired that Bishop

Admiral Chen Shao-kwani is Mueller was kept waiting in an ante-room for 70 minutes and proceeding to Nanking this even- was then notified that Chancelloring to. attend the Kuomintang

Reuter. Congress. Hitler was too busy to see him—

CHANG GOING TO NANKING.

Cuta in salaries, ranging from Reuter. five to 25 per cent, will be exper-

FARGENTINA ADOPTS fenced by several thousand · Irish |

was willing to give the Treasury (Bý Telegraph, Copyright, Telagro | zv the gold profit from devaluation, he phie Mesnapna Ordinance, 1891. Re and his colleagues were opposed to ceived January 13, 8,80 a.m.)

the Government's taking of the title

Washington, To-day.

to the Federal Reserve's gold hoard-| The White House in exerting

STERLING.

ings, because they should remain in pressure for fast Congressional ac- Francs No Longer Basis the banks and continue as the base tion on, the Gold Bill, with a view Of Foreign Exchange,

INDIA.

Free State officials employed by lo cal authorities, Ifà, projected | Government Bill is carried.

Salaries between £200 and £800 year will be reduced by five per

NORTHAMPTON WIN

Southampton Out Of Cup.

Kuomintang Congress,

Shanghai, To-day,

SURGERY MURDER

TRIAL.

Confession Admitted Into Evidence,

A Chicago, To-day: A dramatic turn came in, the surgery murder trial, yesterday,” when the Court. admitted into

evidence the confession of Dr. Alice Wynekoop that she shot her daughter-in-law, Rheta, on

A special train is waiting at the the operating table. Renter North Blation to convey Marshal planMach QUEEN'S PARK RANGERS AND Chang Hanch-liang to Nanking this

BV TRANMERE! WIN

evening to attend the Kuomintang Pages Congress.

London. To-day.

The Mayor of Shanghai, Mr. Wu

cent., while at the other end of the of the Federal Reserve's currency to bringing into effect a stabilisa-

scale 25 per cent, will be taken off credit operationg, he said.-Reuter, tlon fund a quickly as possible ta

Buenos Aires, To-day:

anlaries 'exceeding £1,500. \ MA protect the dollar against foreign, An Argentine Government decree

Teachers, army officers and civil announces, from to-day, the adoption servants have already had 'QUAKE HAVOC IN manipulation.

their Speaker Rainey said, that every of starting as the basis for purchases salaries cut, but the Civic Guards effort would be made to pass the on foreign exchange, Instead of|| have been exempted. Northampton entered the Teh-chen, and Dr. H. H. Kung, will Bin in the House of Representatives, francs.--Reuter,

The measure, which will be intro- Fourth. Round of the English zecompany him--Reuter, duced in the Dall in a few days, Cup yesterday when they beat will be strongly contested by the Southampton by a single goal in Opposition and the SeriateBeuter. their home replay. They will travel to Huddersfield on January

Approximate Figures. today,

Only Possible,

ABOUT 2,000 DEATHS IN BIHAR, ALONE

London," To-day.

It is still impossible to give more than approximate figures of the

The Coinage Committee has favourably reported that 15 mem- hers approve of one voting, at pre- sent, and was therefore not unani- mous, necessitating, the adoption of

a rule forcing consideration to-day.

LONDON STOCKS FIRM

Rubber Shares Rise

London, To-day;; The Gilt-edged stock market in

The Colnago Committee passed an London finished firm' yesterday, with

amendment requiring a report of

war loan, 31⁄2 per cent, at 101%

Ilves lost in the Indian earthquake, the stabilisation operations to be South African mines were firm

as it is feared that many deaths, sent to Congress.

so far unrecorded, must hava occury

́red in' tha bazuara, Ang

The northern portion of Bihar

suffered more severely – thin portion of India,” and it is

the total numbe

The Benate Banking Com

ara demanding the most

dete Information before

as to how it will affë

In the street.

End West Africans vary active but finishing under best on profit-taking

Rubber Increased to 4-17/124, par ras, rose strongly on

SHIPBUILDING IN BRITISH YARDS.

Two New Vessels For

Queen's Park Rangers recorded

valuable away win over Coventry

to creep closer to Norwich at the head of the Third Division (South) table,

Barrow fared poorly at Tranmere and are now four points in arrears of their rivals,

«Remita de cabled by Berber were:

¿Cup: 3rd Bd.

THAMES RISES IN

HIGH WINDS:

High Watermark, But No Damage.

STOP

PRESS

ANGLO-AMERICAN

AGREEMENT.

Fixed Exchange Ratio Reported