1934-02-03 — Page 1

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THE HONG KONG HOTEL

GARAGE

Stubbs Road, Happy Valley,

BEDFORD

MADE IN

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The dol

day at 175 B

Supreme

ChinaTM Mail

Pat. 1845.

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

No. 28,641 HONG KONG, SATURDAY, FEBRUARY

Est. 1945.

1934. PRICE $3.00 Per Month.

GENTLEMEN

MAKE

YOUR

BERNARDS"

BUYWORD ↑

OUTFITTERS

CHATER ROAD,

TINH LINE

AMERICA INTENDS TO DICTATE WORLD COMMODITY PRICES

CHEAP SILVER

STIMULATING

ORIENT TRADE

NEW ARGUMENT FOR REMONETISATION.

MENACE TO U. S. TEXTILE INDUSTRY

Boston, To-day. The menace to the United States textile industry from the Far East, as the re- sult of the Adminis- tration's failure to remonetise silver,

was

stressed by Senator Wheeler, in a speech here, yes- terday.

Wheeler

Senator said that America's

failure to take action with silver had enor- mously stimulated the growth of tex- tile manufacturing in the Orient, and consequently, the cheap Oriental pro-, ducts were ruining the United States textile industry. United Press, per S. C. Gold Bar Co.

SILVER PRICES DECLINE AGAIN

New York, To-day.

Silver prices continue to weak on the Commodity Exchange, here.

I

M. Angelescue, Rumania's new Premier, who was former- ly Minister of Education. He had headed

RAISING GOLD PRICE

THE FIRST STEP

NO INTENT TO INJURE

OTHER NATIONS

U.S. VICTORY IN FIRST SKIRMISH IN INTERNATIONAL EXCHANGE

SPECIAL TO CHINA MAIL

(By Telegraph, Copyright. Telegraphic Messages Ordinamice, 1891.

Received February 3, 9.14 0.m.)

WASHINGTON, TODAY. ADMINISTRATION OFFICIALS BELIEVE THAT PRESIDENT ROOSEVELT'S MONETARY POLICY IS the Government

ALREADY SHOWING SUCCESS. since the assassination of M.

THEY HAVE CLAIMED AN AMERICANA VICTORY. Duca, on December 29.

IN THE FIRST SKIRMISH IN INTERNATIONAL INANCIAL MARKETS, AS THE RESULT OF THE RISE IN THE LONDON GOLD PRICE, THROUGH WHICH THE UNITED STATES HOPES TO CORRESPONDINGLY INCREASE COMMODITY PRICES. IT IS REPCETED THAT MR. HENRY MORGENTHAU, THE TREA-

HUGE ROOSEVELT SURY SECRETARY, IS SATISFIED.

TRANSACTIONS

War-Time Finance In America,

ENORMOUS JANUARY

DEFICIT

Washington, To-day, The first official evidence of the huge expenditure of United States Government loan money for purposes of mancing_Re-| covery, is afforded by the Trea- sury, returns showing that the public debt of the United States increased by U.S.$1,254,000,000 during January.

The amount is several times as

large as any previous month during the Roosevelt regime, and exceeds the monthly borrowings during the| The Mar.h price yesterday closed ut Grent War. 49.50-43.00 cents per ounce against 43.00 cents on Thursday.

A portion of the borrowings went The July price dropped from 44.00 to increase the Treasury's General cents to 44.40-44.45 cents.-Reuter. Fund and will be available later for

AMERICAN AUTHOR

PASSES.

Mr. L. H. McCormick.

Miami Beach, Florida, To-day. The death occured her: yester- terday of Mr. Leander Hamilton!

expenditure.

Express expenditure over re- ceipts totals over U. S. $743,- C00,000, which, is the largest since the War.

Emergency expenditure to. talled U. S. $808,000,000,- Reuter.

McCormick, author, sculptor and COPYRIGHT WORD.

Inventor.-Reuter.

MINISTER FOR THE COLONIES.

Definite Improvement In Condition:

London, To-day.

Whisky Only In England

And Scotland.

Leipzig, To-day.

་

The sharp rise in the London gold price is considered to be evidence that the United States can dictate the world's gold price, and indirectly, world commodity prices...'

According to unconfirmed reports, the stabilization: fund will go slowly in international dealings, until the effects of the U.S.$35 gold have been ascertained The efforts to depress the dollar are believed to hay, heen hampered by the heavy return of American-capital-from- abroad.

Reliable authorities have emphasised that there are intent, to injure other nations. On the contrary, they have called attention to the fact that if commodity prices rise, the entire world will benefit. Un ited Press per S. C. Gold Bar Co.

BRITAIN BUYING TO DEPRECIATE THE

DOLLARS.

Pound-Dollar War May Have Started.

SPECIAL TO CHINA MAIL

chic Menora Ordinance, 1904. Re- City Telegraph, Copyright, Telegro- cived February 3, 6.11 a.m.)

Washington, To-day. The United States Treasury Secretary, Mr. Henry Morgen- thau, has announced that he will refuse to answer questions relat ing to the operations of the stabi- lisation fund.

Observers belleve that the weakening of the pound is evidence that the British are buying dollars heavily.

In many quarters, the opinion is held that the long threatened

pound-dollar war has begun United Press, per S. C. Gold Bar Co.-

The word "whisky" is the term LITTLE CHANGE ON for spirits peculiar to England and; Scotland, and therefore must

not

be used for similar spirits pro-

A telegram from the Governor duced and sold in Germany, is the

of Kenya states that the condition decision of the Supreme Court of Sir Philip Cunliffe-Lister, Se- here..

cretary for the Colonies, has de- - This ends a protracted legal dis- finitely improved. British Wire-pute brought by British firms of less Service..ú

whisky distillers against a German Arm-Reuter.

NEWFOUNDLAND'S

PREMIER

Mr. F. C. Alderdice Leaves London.

London; To-day

The Prime Minister of Newfound- land, Mr. F. G. Alderdion (läft Lon don yesterday on his return to New foundland.

The British Prime Ministar,

LITHUANIA SEEKS TRADE PACT.

Delegation Arrives In London.

London, To-day Colonel Colville, on behalf of Trade, yesterday received a dele the President of the Board{/of

Mr. Hamay MacDonald And Mr. Xation appointed by the Lithuanian

R.. Thomas, Barrels minions, together: wit

Bowrin

Do Edgs

Government for the purpose of ne gotiating a new trade agreement Lithuania and the United

laws took

continued.

WALL STREET.

Stocks Steady After Heavy Trading.

DOLLAR.

$2,000,000,000 STABILISATION

FUND TO BE USED. ··

Washington, To-day,' Because the de-valued dollar": is not falfilling the prospecta - of its sponsors, it is under- stood that officials are prepar». ing to launch operations with the stabilisation fund.

They confidently predict rates of U. S. $6.10 to the pound and U. S. 86.63 to 100 francs, whereas the rate against sterling is at present stronger than before devaluation. -Reuter.

GOLD ACT DESCRIBED AS A MIDDLE COURSE

- SPECIAL TO CHINA MAIL A

Preparing for a military career. Cadets of the Royal Military College, Sandhurst, marching past at the end-of-term Inspection by General Sir Archibald Montgomery-Maasingberd, the Chief of the Imperial General Staff—(S. & G.).

CITY WITHOUT

TAXIS

10,000 Drivers Strike

In New York.

SNOW ADDS TO DISCOMFORT

New York, To-day."- The railway termini, docks

BRITISH · CRUISERS TO VISIT MELBOURNE CELEBRATIONS

H.M.S. Sussex To Curry Prince George To Australia

London, To-day.. The United Kingdom Govern- ment, have accepted the invitation of the Australian. Government to

15 NATIONS

COMPETE FOR

DAVIS CUP

Australia v. Japan In

Second Round.

FRANCE'S BIG TASK

London, To-day.

Fifteen nations are challenging Britain's supremacy in the Davis Cup lawn tennis competition this.

year.

The draw, which was an- nounced last night, has produced a very interesting encounter be |tween Australia and Japan in the Second Round of the Euro- pean Zone.

Eliminated by Britain in the semi-final last year after they {had beaten Japan, the youthful Australian team zone promise of offering one of the sternest chal- -lenges since Australasia won the

trophy against Inles in 1919.

3 Jack Crawford, Vivian · Me

Grath, and✨ Adriam Quist have been invited to tour Europa and represent Australia in the Davis Cup

The fourth player is likely to a Don Turnbull, who accompani ed the team last year, or E. F. Moon, the_well-known, doubles oplayer.

mend cruisers to Melbourne for the forthcoming centenary, cole- and,bayo welcomed the that the system of ex

and faxi-ranks here are within t

a ships with the Royal

H.M.S. Sussex, has been select ed for this duty. I.B.H, Princes George will proceed to Australie. aboard her British Wireless Ser vice.

out taxis, except for a few in-chan dependent rivers, as "the" re sult of a spontaneous Strike yesterday, of 10,000 ̋ drivers, who have demanded the distri- bution among themselves of the U.S.$2,000,000 worth of

five cents pieces collected under

the Tammany Hall cab tax. which was later declared illegal.| Four inches of snow in the streets is adding to the dis- comfort of travellers. Rea- ter.

R.A.F. PRAISED

Fine Work On Indian

Frontier.

Japan with Jiro Batoh and B NAONENTS Gem the nucleus of their s

grent promise,ahonia” he yawan/ stronger than last year when, Batoh and Nanoi reached the Men's Doubles Final at Wimbledon for the first time in the history of

300 IN MINE FOR Japanese tennis

96 HOURS

SPARTAN METHODS BY STRIKERS.

DISPUTE UNSETTLED

* France, * holders for six years, until Britain broke the sequence last year, should avercome Austria to meet Ger- many in the Second Round In the same half as Australia' and Japan the Franch aces will be fully extended to meet Ameri- ca in the Inter-Zone Final.' The following is the draw:

NORTH AMERICAN ZONE. - U.SIA. v. Canada va By Mexico bra into Final

EUROPEAN, ZONE. Czecho Slovakia, New Zealand, and Italy received byes,

First Round

Prague, To-day. Spartan methods were adopted by miners on strike. in the pits near Most, North Bohemia, to enforce a de-, mand for higher wages. Three hundred men remained underground for over 95 hours | and refused to ascend to the sur- Lord Londonderry, the Secre-face or to touch the food sent ceived byes. tary for Air, returned to Eng down.

AIR MINISTER'S TRIBUTE

· AFTER · TOUR

London, To-day.

land yesterday after his 16,000- They declared that they prefered miles air tour in the Middle East to die rather than abandon their and India. He arrived at Croy=]demands, ● Some of the men were By Telegraph, Copyright. Telegradon in the air liner "Hengist." phie Mensages Ordinancs, "7R0S. Re

suffering from hunger convulsions. ceived February 3, 827 ́ami)

** The "strike" extends to 500 men, though other miners are. affected:

The light plane in which Lady! The negotiation for a nettle- New York, To-day. Londonderry flew to Croydon toment in regard to wages, mine re- The well-known American eco meet her husband, made a forced gulations and other disputed mat nomist, Mr. Roger Ward Babson, landing at Biggin Hill Aero-ters continua, postot declares that the Gold Act is the drome, but she continued. the middle course between Radical-Journey in another plane, arriv- ism, and Conservatism, thus in ing shortly after the "Hengist creasing the Administration sup-| Iport by bankers and business- men. —- United Press, per 8, C.] Gold Bar Co.

New York, To-day With the exception *_of_indus-ho trials, koldings on the New York stock market remained steady yes- GOLD RISES TO NEW terday, Bonds were” up 45 to RECORD PRICES

vanced 10 and 04 to 81,06 and 28 Big Demand For Francs

| 90.66, while raf's and utilities ad-

15 respectively,, Indsistrials: were | down 64 to 108.31. The commodity

index closed at 53.59.

'(Continued on Page 5.)

LOCAL DOLLAR

"DECLINES

Silver Prices Fall.

To Buy Metal

London, To-day,:

{had landed.

Lord Londonderry ... ex- pressed great satisfaction at having been able to obtain 'a first-hand sound knowledge - of the air units abroad, and

of the high standard of em

The miners eventually, abandon- ed their hunger-strike and left the pits, but the strike continues, -Reuter.

cency which was maintain STOP PRESS

ANONY

~ (Continuar on Page 91)

BRITISH AEROPLANE PREFERRED

The devaluation of the American Yugoslav Air Company

dollar to 59.06 per cent of the old gold value and the

price for gold at U.S.$55 per ounce,

which in effect “marks the United States jo

Places Repeat Order.

“After a careful bu) Contin

DISARMAMENT.

Capt. Eden To Explain

British Policy,

Switzerland v. India France v. Ansizin

Germany, Australia, and Japan re-

Second Round. Czecho Slóvakia v. New Zealand Taly v. Switserland or, India..

Tränen or Austria v. Germany Australia Janamke

SOUTH AMERICAN ZONE Brazil v. Peru.

WEEKLY TREASURY

ISSUE

£40,000,000 Allotted.

London, To-day?" For tenders for £40,000,000 Tres- sury bills the total amount applied

The "amount allotted In's bills. et threa months was £84

aver

177

vice.

SUGAR CONTROL POLICY.

The Philippines, ↑ And Puerto Rico.

not vata