1938-03-26 — Page 7

THE CHINA MAIL, MARCH 26,

Page

SHANGHAI BUSINESS GETS FOREIGN EXCHANGE SHOCK Central Government Policy Of Limitation?

BANKER COMPLAINS OF APPARENT DISCRIMINATION

Shanghai, To-day.

Businessmen and bankers in Shanghai received an- other shock yesterday when the second weekly foreign exchange allotment from Hankow be came known.

Although the figures were not published, a close study reveals the amount of foreign exchange

NEW BASRA MR. KENTWELL

AIRPORT OPENED

Basra, To-day. The new airport here was of ficially opened by King Ghazi yesterday.

The airport is situated on the banks of the River Tigris, and has an all-weather landing ground.

A marine airport has also been laid out by which flyingboats will. also be able to land-Reuter.

applied for by all banks in Shanghai totalled TWO BRITISH

.

£1,500,000, of which £485,000 was allotted. Previously it had been hoped that Hankow con- sidered the first week's applications in excess of what was necessary for legitimate foreign business, and that that was why the first week's allotments were cut down.

Now, however, it is feared that China has really embarked on z policy of limiting the amount of foreign exchange allotted to ordin- ary trade to the surplus left over from China's exports after all war materials were paid out.

Yesterday's allotments ranged from 100 per cent. to only 5 per cent. One foreign banker receiv ing a smallish allotment, expressed very bitter disappointment at what

JAPANESE OIL

IMPORTERS AND MEXICO

London, To-day.

STEAMERS IN COLLISION

London, To-day

JOINING

PUPPET GOVERNMENT?

Shanghai, Yesterday."

Japanese quarters announce that

suitable Prime Minister has, now

apparently been found for the Nan-

king puppet Government in the per- son of the former provincial` gover-. nor, Liang Hung-tsze, who formerly belonged to the so-called "Anfu” cli- que which in pre-Kuomintang days played a prominent part as a reac- tionary centre in China's political life.

While summer-like warm wea- ther prevailed in London and the It is stated that the Foreign Min- south of England, the Channel ister will be the veteran diplomatist, was covered with such dense fog Cheng Loh. yesterday that entire shipping

came almost to a standstill

"Transocean is informed that an Two British steamers collided off Anglo-Chinese, L. E. Kentwell, son Shipswash Sands. One of the of a English father and Chinese mo- steamers was damaged considerably,ther, will be appointed president of

the Chinese Supreme Court.

The French liner Normandie, an- Japanese oil importers in choring of Southampton, could not Kentwell practised as a barrister he thought was discriminating! Tokyo are formulating a plan to take aboard 267 passengers for at the British Court în Shanghai

take advantage of the expropria-America owing to the fog. tion of the American and British oilfields in Mexics, according to rumours here.

treatment.

At the time of his application he offered to furnish Hankow with the names of his clients and the rea- It is stated that the Japanese are SORS they required foreign

ex-preparing to offer Mexico a contract change for legitimate merchant under which she will purchase business.

until he became naturalised as Chinese citizen.

tion Trans-Ocean.

Two steamers searched for the i Normandie for eight hours at night Chinese circles see in his appoint- but were unable to locate the huge ment further proof of the difficul liner in the fog.`-

ties experienced by the Japanese in The passengers had to travel to finding suitable Chinese personali- Targe quantity of crude oil annually | Piymouth to board the Normandie ties for the new Nanking administra. and will give Mexico technical as- there.-Trans-Ocean. sistance in contruction of pipelines across the Isthmans of Tehuantepec He is now demanding on what and will make improvements. in basis Hankow is to decide whether Mexican shipping ports this bank or that will have 100 per Pacific Coast-Reuter. cent. applications allotted or only five per cent.

BASIS DEMANDED

at

Several bankers stated the opin- fon that it was vitally necessary to establish a forwarding office Shanghai, and applications of allot- ments made daily, otherwise the si- tuation would worsen and legiti- mate trade would be killed-Reu- ter.

-

TRANSATLANTIC AIR SERVICE

London, To-day.

Preparations for the institution of a regular trans-Atlantic air service on the northern route was concluded here yesterday at the conference attended by American, British, Canadian and Irish repre

on

the

CHAMBERLAIN

TO VISIT PARIS?

London, To-day.

It is rumoured in political circles that the Prime Minister, Mr. Neville Chamberlain, and the For- eign Secretary, Lord Halifax, have been invited by the French Gov- ernment to visit Paris in order to discuss the international political situation.

This rumour is neither confirm- ed nor denied in official quarters.

Trans-Ocean.

H.K. AIR MAIL DELAYED

Imperial Airways liner, Daedalns, News has been received that the sentatives.

from Bangkok, has been delayed] Plans

were drawn up for the and will not arrive in the Colony complete "ground organisation, in- until this afternoon. cluding weather service, radio The Daedalus will return to Bang- direction finding system, etc, kok to-morrow morning early and each government and airways mails will be received at the Gen- company being assigned special eral Post Office up to 5 pm to tasks. Trans-Ocean.

day, both registered and

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