1934-04-09 — Page 1

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OUTFITTERS

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ROOSEVELT MAY

TO COMPROMISE ON SILVER

No. 28,694

HONG KONG MONDAY, APRIL 9, 1934.

BE

FORCED

BILL

NEW STRIKE THREAT LOOMS BRIGHT PROSPECTS

IN U.S. MOTOR INDUSTRY

Four-Day Ultimatum Given By 18,000 Detroit Tool Makers

Washington, To-day, Prezident Roosevelt, on his re- will And turn from his holiday,

himself faced another motor industry crisiswhich develop ing at Detroit 18,000 tool and die mak,

strike on Tave agreed to

unless their

demandi foa 20 per cent. wage increase set. Reator.

GIGANTIC

MANOEUVRES

BY U.S. NAVY

One Month's Operations Over 3,000 Miles.

HUNDREDS OF WARSHIPS AND 300 AIRCRAFT

San Diego, California;

To-day.

A gigantic series of battle manoeuvres, in which the United States fleet will fight its way through 4,000 miles of "Enemy" waters, begins to-day and continues for one, month.

The manoeuvres are on a scale hitherto never attempt- ed, and will extend 3.000 miles to the Panama Canal and from there to Puerto Rico and the Virgin Islands.

Hundred of ships, 300 air- craft, and 35,000 men will participate.

After the manoeuvres, the Fleet will move

up the East coast in readiness for a grand review by President Roose- vell, on the Hudson River, at the end of May.-Reuter. FREEING FROZEN DEPOSITS IN U.S.

McLeod Bill May Be Reported This Week.

$2,000,000,000 REQUIRED,

SPECIAL TO CHINA MAIL. (By Telegraph, Copyright, Telegra. phic Meanngra Ordinance, 1894, Re- ceived April 8, 8.22 a.m.)

FOR DIES

POWERFUL CONGRESS

SUPPORT

RAINEY PREDICTS EVENTUAL GOLD AND SILVER BIMETALLISM

SPECIAL TO CHINA MAIL.'

(By Teleproph, Copyright, Telegraphic Messages Ordinance. 1894.

Received April 8, 11.45 p.m.)

WASHINGTON, TO-DAY.

A BILL FOR THE NATIONALISATION OF SILVER AND THE RESTORATION OF THE 1926 COMMODITY PRICE LEVELS, IS BEING CIRCULATED SECRETLY ON CAPITOL HILL IN CON NECTION WITH A POWERFUL MOVEMENT TO ENACT SILVER LEGISLATION THIS SESSION, COMPELLING PRESIDENT ROOSEVELT EITHER TO ACCEPT OR VETO, LEGISLATION.

Administration officials are somewhat alarmed, and are there- White føre proposing a compromise built around the Dies Bill. House spokesmen believe that President Roosevelt will accept the] Dies Bill if the premium provisioris are eliminated or modified. The Bill, in its present form, gives a prémium in purchasing "power to foreign silver spent here for surplus" agricultural pro-f ducts.

Silver advocates predict that a veto will make sliver the prime issue in the forthcoming Congressional cam paign. The Speaker of the House of Representatives, Mr. Henry T. Rainey, is of the opinion that gold and silver bimetallism will be effected in the United States be fore long.

"We are

Laying the foundation stone of the Richard Wagner National Memorial, at Leipzig, Chancellor Adolf Hitler is seen with the plan of the Memorial, ready for placing under the foundation store. On the right in Herr Goerdeler, the Lord Mayor of Lelpzig. Masone, in uniform complete with top hats, are seen on the left-(8. & G.).

GERMANY

BLAMED BY

CREDITORS

Mistaken Financial Policy.

U. S. COMMODITY PRICES

RISE LAST WEEK

Business Spart Predicted In America

SPECIAL TO CHINA' MAIL (By Telegraph, Copyright, Telegra phio Messages Ordinanca, 1891. -Re

"We are going to have a double standard," he said. going to store silver bars and issue silver certificates just as we are now issuing gold certificates."--United Press, per S.C. Gold Bar Co. FORTHCOMING NEGOTIATIONS(ceived April 9, 11.45 am.)

SILVER SENATORS

GAIN COURAGE.

New Silver Bill Secretly

Circulated..

SPECIAL TO CHINA MAIL..

ty Telegraph, Copyright. Telegra phie Mersages Ordinance, 1894. R.. ¡ceived April 9, 8122 ani)

Washington. To-day. The United States silver Senators gaining courage and believe that they can muster a majority for legis- lation far beyond the limits pre- The Administration is pared to go.. They think, however, that they will not have sufficient strength; to over-ride a veto and therefore may compromise on the Dies

Bill

So far the silver advocates! have out-manoeuvred President

GOING TOO FAR"

Nationalisation Plan Criticised.

SPECIAL 10 CHINA MAIL

IN BERLIN.

Busle, To-day.

It is understood that the meet. ing of Germany's long-term creditors, at which no German delegate was present, yesterday, reached a provisional agreement

B Telegraph, Copyright, Telepra-jas regards the common front to

New York, To-day.

The New York Annalist said in an article yesterday that the week's outstanding developmenta had produced an upward surge in commodity prices, and "seems to presage another spurt in business

Biso indicating activity and important test to the entire price -raising programme."— United Press, per 8.C. Gold Bar Co.

An

phir Mensages Ordinance, 1894, Re-be adopted when the negotio RELIGIOUS RIOTS

ceived April 1, 2.24 pan.)

Washington. To-day.

tions are held in Berlin shortly.

At the meeting, Germany will IN BOSTON

submit proposals for a

general

The Sub-Committee which convention instead of the present Bitter Armenian Church

the

preparing a unified silver Bill meets to-day. The acting-Chair- man, Senator Thomas, told United Press that the Committee the will discuss adjustments to Bill and will probably issue a re- part to-morrow.

Senator Capper is of the opinion that the differences on the committee view points can be adjusted, but several House of Representatives De- that mocratic leaders insist If remonetisation schemes are appended to the Dien Bill, it will not be favourably receiv.

ed.

Washington, To-day, Roosevelt's Congressional lead- It is indicated that the House offers, Representatives that the Sub-Com- Senator Thomas, of Oklahoma,

Senator Thomas yesterday con-

with mittee may this week report the Me-is the author of a Bill which is Leod Bill, authorising the Govern-secretly circulating on. Capitol ferred meat to fully pay' depositors

The measure includes re-Wheeler who is sick. of m closed banka affiliated to the Federal monetisation. Reserve,

Proponents argue that the freeing! of frozen deposits will stimulate business and immediately hasten Recovery,

It is estimated that $2,000,000,000 would be required.-United Press, per S.C. Gold Bar Co..

EUROPEAN IN CAR ACCIDENT.

Chinese Slightly Injured

The Bill proposes:

individual conventions.

Creditors are of the opinion that Germany herself is chief. ly to blame for her present financial strelig, owing to mis. takes in policy.

Dispute.

POLICE USE GUNS AND TEAR GAS BOMBS

ice.

Boston, To-day. This concluded Saturday's meel- ing at which Dr.

Employing knives and H. Schacht, President of the Reichsbank, in-picks, rival factions of the Ar sisted that it was impossible for menian Church were engaged in Germany to continue the present a desperate battle yesterday. The mutual arrangements for transfer of pay-trouble originated over

not accusations of murdering the jments, but given time and

being unduly pressed, she would Archbishop of Tourain. be able to meet her obligations.- Reuter.

(Continued on Page 9)

Senator Burton GIGANTIC ROCK

CRASHES

In an interview with the United Press, Senator Thomas advocated

First, nationalisation of silver the nationalisation of all domestic Heavy Havoc Caused In

by purchase at the highest spot silver stocks by the issuance of price prevailing on the day prior silver certificates for the purpose

to nationalisation..

'Secondly, payment would be made with silver certificates.

of "preventing profiteering."

However, Senator Pops is of the

Thirdly, the Treasury would be opinion that nationalisation. is

authorised to purchase, in the world market, foreign silver to a maximum of 50,000,000 aunces

"perhaps going too far."-United Press, per 8.C. Gold, Bar Co.

monthly until commodity prices ROGERS DUE TO-DAY

IN SHANGHAL

reached the 1926 level or silver reached a ratio of parity with the

:

gold,

The silver price of 1926 would be To Study Silver Question Au Kaen-ye, aged 46 years, was reckoned at U.S.$1.29 in issuing.cer-

In China, admitted to the Kowloon Hospital tificates, thereby creating a con- auffering from - mlhor Insprias siderable profit for the Treasury," after being knocked down by The plan will make money for motor car. No. 1056, driven by Mr. the Treasury Senator Thomas KH. Muller," of "room No. 301. said: Peninsula Hotel, in Nathan Road yesterday morning,

Shanghai, To-da Professer Rogers, who' has went by Freuident Roosevelt "The Democratic platform do-

silver" the question manded the rehabilitation of silver, China, is arriving The wind ableld and the steer- which amounts to controlled Infia- log- Ing wheel of the car ware damag- tion". United Press per BO

Gold Bar Co.

Norwegian Fjord.

TREES AND BUILDINGS WASHED AWAY

Oslo, To-day.

The damage caused when a Fjord, on Saturday, near Alle huge crag crashed into the Ta sund, sending gigantic waves in- and f

I for half a mile and drowning 40 people, is estimated at 450,000 kroner, excluding the damage to forests and fields, band

The rock, which crashed down was" 1,200 feet high and 600 feet wide, while the Fjord is only 1,800 feet wide, though very doop,

Two hundred and fifty Police, armed with riol gune and fear gas bombs, over- powered the rioters and made nine arrests. Reuter. (Continued on page 12.)

MR. T. C. BRITTON'S TRAGIC DEATH Found Shot In Shanghai

FORMER PRESIDENT OF

·ASIA REALTY.

Shanghai, To-day. The tragic death occurred Last night of Mr. L. C. Brit- ton, former President of the Asia Realty Company, who was found dead at his resi denca hera with a bullet wound in his head.

Investigations are being conducted, Beuter:

WEATHER REPORT.

FAR EASTERN OLYMPIAD

Dutch East Indies And Annam Enter.

HEATED DISCUSSION OVER MANCHUKUO EXPECTED

Far

Shanghai, To-day-

N.R.A. ATTACKED

Gen. Johnson "The Pawn Of Wall Street.”

CODE VIOLATERS MAY BE GAOLED

Washington, To-day. In order to counter the scathing attacks on the National Recovery Ad- ministration, in one of which he is described as a "pawn of Wall Street," General Hugh Johnson, the administrator, has circularised N.R.A. agents throughout the country ordering imme- diate steps to be taken in bringing violaters of the Codes into Federal courts, with a view to fin- ing and even imprison- ing transgressors.-Reu- ter.

(Continued on Page 9.)

STOCK REGULATION. REVISION URGED.

Retention Of Main Features.

·GFECIAL TO CHINA MAI

At the opening meeting of the #Bly Telegraph. Copyright, Teispre Eastern Olympic Games plic Messages Ordinance, 1984, Ne Conference to the participationsceived April 8, set am). of the Dutch East Indies and

Washington, To-day. Annam at the forthcoming meet- Mr. Harriman, President of the ing in Manila was agreed on. United States Chamber of Com- The question of the so-called merce said yesterday that the con- Manchukuo's participation, which{structive features of the Stock Mar- the Chinese are bound to oppose ket Bill should be-retained, but that is likely to be brought up by the revision should be made in order Japanese delegates, and a heated that recovery might not be hamper discussion is expected. Reutered.-United Press, per S.C. Gold Bar":

Co.

་

CHINESE COASTER

SINKS

20 Believed To Have

Been Drowned.

34 SURVIVORS TAKEN

TO SHANGHAJ

Shanghai, To-day,

ITALIAN" "DOUBLE" IN CAR RACE.

•

Alfa Romeo Wins Over. 1,000 Miles.

MASERATI SUCCEEDS IN LIGHT CAR CLASS.

Brescia, To-day. The Mille Miglia 1,000-mile motor race held yesterday, re- sulted in a win for the Italian driver. Varzi, driving an ́Alfa Romeo,

The Chinese coaster Yuen Shwun, which sent out dis- tress signals off Ningpo on Saturday and which mystery- ously failed to reply to mes" sages, struck submerged

Taruf another Italian, driving rocks off Ningpo shortly after midnight on Saturday 8 Maserati, won the light car and sank within 15 minutes, class, with Mr. Penn Hughes and More than 20 are believed to Count Lurant, driving a M. G. have been drowned, though S4 Blagnette, second.--Reuter,

Mr. Whitney Straight's team of survivors have been picked Maserati's especially chosen by the and brought to Shanghal by designer of Sir Malcolm: Campbell's fishing junks, ...

Blue Bird were favoured to win the The vessel was carrying 2,000 event. Primo Camera, the world's tons of cargo but no passengers, heavyweight boxing champlon, wa

accompanying all on board baing the crew and rumoured members of the compradore's Nuvolari na mockicnic. staff,

BIG AMERICAN BOND-ISSUE OVER-SUBSCRIBED

The Japanese captain wasa among the survivors. Reuter, The vessel is owned by a Chin- ese company at Newchwang

CURB TRADING ACTIVE IN NEW YORK

SPECIAL TO CHINA MAIL.

• Telegraph. Copyright. Telegra jahto: Meansgen. Ordinance, 1994" ceived April 9, 11:35 x.m.)

to

be

SPECIAL TO CHINA. NAIL: (By Telegraph, Copyright Tdepres

Washington, To-day, The United States « Treasury Becretary Mr, Henry Morgenthan, has announced that he has reeniv- Reed: 1.8.$550,000,000 In subscrip- Hons for the new series of 84. New York, To-day per cent. Liberty Bonds callable Curb exchange investigations on April 15 and about U.8.8250- rather forecast here show unusual activity in 000 for Treasury certificates, due fasued by the Royal Observatory this various issues United Press, per on May United Press, per: B C

[Gold' Bar Co.

Cloudy weather, with a drizzle pr The whole shore where the light rain, and fresh nort

Every and build

8.0, Gold,