1934-05-04 — Page 1

Carnation

Carnation

"From Contented Cows"

THERE'S CREAM

IN

EVERY DROP.

Sole Agente: CONNELL BROS. CO., LTD.

HONG KONG & 8. CHINA.

The dollar, on demand, closed.

to-day, at 1/4,8.81 --

FINAL EDITIONG

ChinaTM Mail

Ext. 1845.

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

PRICE $3.00 Per Month.

BUY YOUR SUMMER WEIGHT

WHITE SLIPOVER

THIS WEEK.

LIGHT & COOL.

Est. 1845.

BERNARDS' OF HARWICH

CHATER ROAD,

HONG KONG.

WALL STREET

No. 28,716

HONG KONG, FRIDAY, MAY 4, 1934,

MYSTIFIED

BY ENORMOUS SILVER PURCHASES

MACDONALD SHANGHAI BANK MAY EXPERIMENTAL

HECKLED

GOVERNMENT EULOGIES

RILE DINER

INCIDENT AT ROYALİ

BE RESPONSIBLE

SUSPICION OF TREASURY ACTIVITIES

ACADEMY BANQUET. BRITISH INTEREST DISCREDITED

PREMIER'S VIEWS ON EUROPEAN SECURITY

London, To-day. An unprecedented interrup- tion in the Prime Minister's speech occurred at the Royal Academy banquet, yesterday evening, which

SPECIAL TO CHINA MAIL.

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

Received May 4. 9.43 a.m.)

NEW YORK, TO-DAY.

U.S. LEGISLATION

GREAT MENACE] Vigorous Criticism Of

"New Deal." ·

CANADA MAY HAVE TO RETALIATE

APECIAL TO CHINA MAIL.

(By Telegraph, Copyright. Telegra phic Messages Ordinance, 1884, Re- erived May 4, 8.58 am).

Washington, To-day.

Mr. Silas Strawn, the noted Chi- cago attorney, who represents large interests, yesterday told the WALL STREET IS MYSTIFIED BY SOMEONE WHO IS United States Chamber of Com- HEAVILY BUYING SPOT AND MAY SILVER. SOME BE- merce Convention that before any LIEVE THAT IT IS THE TREASURY THROUGH, THE U.S.52,000,000,000 was allended

STABILISATION FUND, BUT THIS BE-real prosperity could be attained, LIEF CANNOT BE CONFIRMED.

the United States must balance her by H. R. H. the Prince of

Budget, return to the old stand- Wales and a distinguished gat- Wall Street experts state that Treasury purchases of silverard, and revise the Securities Act. hering.

would prevent a wide break in silver which might possibly adversely affect other commodities.

Mr. Ramsay MacDonald was extrolling the achievements of the National Government when a guest interjected:

"Why not say something about the present exhibition ?” "I am coming to that," quietly replied Mr. MacDonald, who proceeded to express the hope that patrons of art would encourage the living artists.

Earlier in his speech, Mr. MacDonald described the in ternational situation as still un- sellled and uncertain and the hourly concern of the Govern- ment, who had been striving for goodwill and peace and for

the establishment of interna- tional confidence.

If there were any difficulties in the way, such as Disarmo ment, they arose not because any country in the world to- day wished to possess extra- vacant armaments, but becaure the nations bad not got suffi- cient confidence in each other to adopt policies of goodwill and co-operation.---Reuter,

LOCAL GOLD BAR EXCHANGES

Government Action Anticipated.

The belief is growing that there will be no mandatory legisla- tion at this session of Congress.

His speech was one of the most vigorous criticisms of the "New Deal"Never made by an Ameri- can business man.

"The obvious lack of confidence

British purchases of silver in New York are discredited in Wallis the greatest menace to the re-

vival of normal business, he said. | Street. It is recalled that the act permitting payment of war debts trust that I shall not be re- in silver expired last Autumn.

garded as unpatriotic when I ex-. SOME TRADER BELIEVED THAT A SHANGHAI BANK WAS RE- Press the opinion that confidence SPONSIBLE FOR THE PURCHASES. MEANWHILE, THE TREASURY will not be restored until there is SECRETARL, MR, HENRY MORGENTHAU, DECLINED TO COMMENT ja cessation of experimental legis- WHEN QUESTIONED IN WASHINGTON-UNITED PRESS, PER SC. iation."

GOLD BAR (Y).

SILVER AMENDMENT NOT FAVOURED.

Thomas Presents New Scheme.

DEFEAT EXPECTED.

SPECIAL TO CHINA MAIL.

SENATOR PREDICTS

PASSAGE. “Medium For Trade Essential."

*SPECIAL TO CHINA MAIL.

(ầy Telegraph. Copyright, Telegra- phic Messages Ordbance, 1804, Re

By Tegraph, Copyright, Telegra-|ceived May 4, 8,62 nam.) phic" Mexanges Ordinäner, 1894, "Rr- terived May 4, 8.52 .001.)

Washington, To-day.

The United States Senate yes terday postponed consideration of the Glass Bill until next week, whereupon Senator Thomas with-

Reno, To-day.

Senator McCarran has predicted

Bill which will go a long way to the passage of Senator Thomas's

wards remonitising silver.

"The Government impounded

·

-Some of the 22 boy, scouts from Ceylon, who attended the. World Jamboree in Hungary, and who gave a performance of their boy scout gala "Spices of the East," consisting of national dances and pageants in costume with native music, in London.- (S. & G.).

THE COTTON- DEADLOCK

RUNCIMAN

STILL HOPES

FOR WAY OUT

PROTECTIVE ACTION LAST RESOURCE.

JAPANESE EXPORTERS HAVE ADVANTAGE OF TIME

London, To-day. Although official cir- cles are maintaining the greatest reticence as re- gards the interview be- tween the Japanese Am- bassador to London, Mr. Matsudaira, and the Pre-

JAPANESE ASSURANCES sident of the Board of

SATISFY FRANCE

WASHINGTON TREATY KEY

TO SITUATION

RESPECT FOR TREATY RIGHTS

IES%30-DAY

Trade, Mr. Walter Runci- man,

Reuter under- stands that Mr. Runci- man has explained that any protective action which the Government may think necessary will be undertaken reluctant- Mr. Wanford Evans President).."

ly in the hope that a way Commerce, and that if there of the Canadian -Chamber ... off

FOLLOWING THE JAPANESE AMBASSADOR'S INTERPRETA out of the Anglo-Japan- were any more gryations of the TIVE COMMENT TO M. BARTHOU ON THE "HANDS OFF CHINA? American dollar and Ray be STATEMENT, THE FRENCH GOVERNMENT HAS REPLIED NO-ese cotton deadlok may forced to retaliate. United TING WITH SATISFACTION JAPAN'S RESPECT FOR THE INsoon be found.

DEPENDENCE, in china, oF THE TREATY RIGHTS OF OTHER For over a year, the Britină POWERS, NOTING ALSO THE CONDITIONS UNDER WHICH Government has delayed protec JAPAN IS UNABLE TO BE INDIFFERENT TO INTERVENTION tien action both in the Colonies WHICH MIGHT BE PREJUDICIAL TO ORDER AND JUSTICE. and in the Home Market; In order The reply states that if such intervention arose, the French to secure the best possible at mosphere for the Anglo-Japanese Government is convinced that Japan would acck, in concert with trade talks, other Powers, a legal solution to all the difficulties in accordance with the principles on which the Washington treaties are based not ably the amicable procedure envisaged in Article VII of the Treaty of February 6, 1922,

Press, per S. C. Gold Bar Co.

U.S. STATESMAN PASSES.

Mr. William H. Woodin.

FORMER SECRETARY OF TREASURY.

New York, To-day. The death occurred yesterday of cretary of the United States Trea- sury, who resigned on January 1, this year, owing to ill-health.

draw his silver amendment, but gold. It is absolutely essential Mr. William H. Woodin, former Se- presented it immediately there that the people should be given a jafter in a different manner for medium with which to trade," he declared.United Press, per S.C. The Administration predict that Gold Bur Co. will be defeated.--United Press,

consideration on Monday.

per, S.C. Gold Bar Co.

CORPORATION LEADER NOT

PERTURBED

SPECIAL 10 CHINA MAIL..

By Telegraph, Copyright, Telegra The management of the local phie feesager Ordinance, 1894, Ra- branch of the South China Gold ceince May 4, 0.43 a.m.) Bar Company declined to make

New York, To-day, statement this afternoon Mr. John F. Harmon, director of any

Corporation, with regard to the Government's the Handy Harmon communique in reference to gold leader of the silver industry, is bar speculations.

not perturbed over the silver market...

The manager, stated that the been head office in Shanghai has informed of the situation but as

He, however, hesitates to make! predictions.—United Press, per been S.C. Gold Bar Co.

yel no communication has received. Cutil notification is re-

ceived from "Shanghai, the local SILVER UNSTEADY

office are unable to issue a state. ment,

(Continued on page .8.)

STOP PRESS

TWO WORLD' BOXING CHAMPIONS

Marcel Thil

(France) out pointed Gustave Roth (Bel gium). at Paris yesterday, and Vince Dundee (America) beni Al Diamond on points at New Jersey yesterday,gant

Both winners have been res cognised on world chamylons. by the Paris International Baxing Union and the New York Rate Athletic Commis sion-Renters

IN NEW YORK

Interest Still Centred On Washington.

STOCK PRICES FIRMER

New. York, To-day,

The New York silver marketį was generally nervous yesterday, being affected by moderate orders either way. Interest is still be

15 MISSING IN U.S. FIRE

Brooklyn's Worst Blaze For 20 Years.

WHARF DESTROYED

New York, To-day. Fifteen longshoremen are of missing as the result Brroklyn's worst fire for 20 years, which the pier of the Barber Shipping Lines WEB destroyed.

The fire started during the unloading of cargo of Kapok rubber from a freighter which was tied up alongside.-Neu-

Ler.

Mr. W. H. Woodin

He entered a hospital a month ago when a throat ailment recur-] red, and was later reported to have considerably improved,

The news of his death with startling suddenness, condition became critical in last 24 hours, during which wife and daughter were at his bed- alde almost continuously.

came His the bis

Death was due to "Nephritis Uremia" following an infection of the throat and beck-Reuter.

"Guild Form Of Government" By

The reply expresses an opinion that it is only within this frame- work that equitable and satisfactory solutions to Chinese affairs can be found.

1

The communications exchanged between the Ambassador and the French Government have the character of verbal and not for mal diplomatic notes. — Reuter.

REICH POLICE MINISTRY

Formation Now Under Consideration.

PRUSSIAN PREMIER AS HEAD

Berlin, To-day.

The next step in achieving a Nazi Reich will probably be the centralisation of the whole of the Reich police under one *'control.

It is understood that the Cabinet is considering the creation of a new Reich Po lice Ministry under the Prus- sian Premier, General Goer- ing, with Herr Heinreich Him-- mler, the new head of the Se- ciet Police, as Secretary of

Secret Group Alleged In U.S. State.

Washington, To-day, 1serted in Congressional records, as

An allegation that a secret group the associates of the British Pre-

ing shawn regarding possible dels seeking to establish "a guild form mier, Mr. Ramsay MacDonald and velopments at Washington. of Government” in England and Mr. Malcolm MacDonald, Parlia

With the exception of utilities, America, is the fastest attack mentary Secretary for the Do- which declined 0.15 to 23.95, stocks against members of the "Brian mintons, in a group, which Mr. Mc showed better strength. Industrials Trust.” *----

Fadden alleged included, Sir George

were up 0.12 to 98.94 while raile and Professors Tugwelland, Adolf May, Chairman of the Import Duties bonds advanced 0.25 and 0.02 to Berls are prominent members named Advisory Committee, Bir Oswald 46.54 and 94.74, respectively; // by Representative-McFadden, who in Morley, lander of the Fascist more- Business was average, 1,110,000 known as the "Wild Man" of the ment in Britain, Lord Melchett, and shares being traded.—Reuter, Republican Party, in an address in Lady ReadingRester,

Herr Himmler already con- trols the political or secret, police in all the German States,

By giving up the Prussian Ministry of Interior, General Gouging has not lost control of the Prussian police, as this was tranferred to the Prus sian Premier sometime ago.

Same Assurances Given.

Paris, To-day, The Japanese Ambassador to Paris yesterday called on the French Foreign Minister, M. |Barthou, and Gave the same as- surances in regard to Japan's policy in China as the Japanese Foreign Minister, Mr. Hirota, conveyed to the British Koki

Ambassador to Tokyo, Sir Fran- cis Lindley. Reuter.

NO DEVALUATION

OF MARK.

Dr. Schacht Reiterates Assurance.

DANGER TO RECONSTRUCTION

Berlin, To-day.

A renewed doclaration that there is no question of the devaluation of the Reichs-

· mark was given by the Pre- sident of the Reichsbank, Dr.

·H. Schacht, in an interview with the Westdeutsher Beoba- chter...

'Furthermore. 'Reuter under- stands that Mr. Runciman point- ed out that if Britain takes pre fection it will be because there appears to be no prospect of a general trade agreement or even a resumption of the cotton com- versations,

It is felt that Japanese ex- time and therefore, a limit must porters have the advantage of

be set to the delay, on the British side in resorting to safeguarding action in order not to prejudice |the British case if the conversa

tions are resumed later. - Reg- ter.

NO TRADE WAR FORECASTED

America's Agreement With Japan.

NEGOTIATIONS" PROCEEDING

+

Washington, To-day, Officials of the State and Cam merce Departments are not sur prised at the reports of the Bri-

tish intentions regarding Japan- e.competition, but they indi- cate that, until the competition. hecame greater, they believe that the general world economic con- ¡ditions against dumping laws, and the “Gentlemen's Agree ment" between Japan and the United States, prohibiting unfair. ‹ competition, would make it un- necessary for any drastic trade war action against Japan.

(Continued on page 9.)

He said that devaluation would U. 8. TRUST MISMANAGEMENT carry unrest into trade and in- dustry and would seriously endan- ger the programme of reconstruc tion and prove a blow to world trade, tad passed

SPECIAL TO CHINA MAIL-

Washington, To-day,

The Senate Banking Committee in blafged for the mismanagement He added that nothing could at and for the collapse of the Guar present •he anid na regards", the dian Trukt Co, of Cleveland, fast, outcome of the transfer = confer- year--United' Prusa, per B.C. Gold ence-Beuter).