1938-05-06 — Page 14

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6

AGE 20

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NOTHING but EXPERIENCE

MAKE YOUR CHOICE WHILST YOU ARE YOUNG ENOUGH

MANUFACTURERS IFE

INSURANCE COMPANY

HEAD

OFFICE: TORONTO · CANADA

SHELL HOUSE HONGKONG - TEL, 2060I · E.J.R. MITCHELL MANAGER

CANTON: 20, British Concession, Shameen.

Tol. 15372. B. K. Batchelor,, District Manager.

SWATOW General

Messra. Agents :

Ramsey & Bon., Ltd.

Special Representative: C. R. W. Thomson.

MACAO: F. J. Noronha, Agent.

MADE IN U.S.A.

Carr

MAIL THIS COUPON NOW THE MANUFACTURERS LIFE INSURANCE CO.

Shall House, Hong Kong. Please send me full particulara of your Retirement Folicy.

NAME AGE (Nearest Birthday) ADDRESS

7APB4

THE CHINA MAIL, MAY 6, 1988.

FRENCH CAPITAL BEING REPATRIATED

PARIS, TO-DAY. HUGE AMOUNTS OF FRENCH CAPITAL WERE REPATRIAT- ED YESTERDAY APPARENTLY BECAUSE OF THE AS- SURANCE OF THE FINANCE MINISTER, M. MARCHAN- DEAU, THAT AFTER THE RATE OF EXCHANGE HAD BEEN FIXED AT 179 TO THE POUND STERLING, THE FRENCH FRANC WOULD NOT SINK ANY FURTHER,

4

On the Likewise, it is stated in some of Government decree. quarters, the preceding declaration | contrary, a catastrophe could not made by M. Daladier in his broad-be avoided unless the French peo- cast address on Wednesday, that ple succeed in united effort to in- the rate of exchange of the franc crease production. in relation to the pound sterling could only change in favour of the franc, 80 profoundly impressed many Frenchmen that they con- verted their foreign currencies into French francs at once because they too hold the opinion that the sterling rate is now at its peak.

DOUBLE SUCCESS. French finance circles state that yesterday forenoon over three milliards of French francs were paid into the French treasury. That means a double success for the French Government. ·

On one hand, the developments increase the holding of foreign ex- change at the Treasury and on the other hand capital return- ing to the French market will have direct influence in revitalis- ing all economic affairs.

Rehabilitation of economic life did not depend on the repatriation of milliards of francs and the re- turn to circulation of gold hoarded by the people, but rather, first and foremost, upon acceleration of the rate of production of useful com- modities and by avoidance of legis- lation hindering the productive Trans- employment of labour. Ocean,

FRENCH SHIP BOMBED AT VALENCIA

.Madrid, To-day.

A French steamer is reported

The return of confidence in the stability of the franc was shown above all by the increased demand for French State rentes yesterday to have been set on fire when The while other fixed interest securities Valencia, was bombed by insur- also advanced in price. The de-gent aircraft. yesterday.

towed out of valuation of the franc and the vessel was later increase

the danger zone. of the taxation were greeted with great optimism by the

Fifteen were killed and 35 afternoon press and described as wounded, while twenty houses decisive measures on the part of were destroyed, in the course of a M. Daladier to put French finance second raid --Reuter. and French economic affairs on a

sound basis.

WARNING VOICE

Mr. W. A. Cornell,- of No: 549, Nevertheless, as "L'Intransi-The Peak, has reported the loss of

TIP FOR THE DAY! geant points out, the problem of clothing to the value of $57 from

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the stability of the franc cannot his car while it was parked near be considered apart from other the Hong Kong and Shanghai-Bank- matters and solved simply because yesterday.

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