1939-01-21 — Page 7

THE CHINA MAIL, JANUARY 21, 1939.

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Dr. Schacht's Retirement Comes As Surprise In Reich

Officials Insist Real Reason Is That Announced

Bourse Stands

Up Better Than Expected

Berlin, To-day.

All Berlin is trying to discover the reason for the retirement of Dr. Hjalmar Schacht, the Reichs- bank President, but the secret has been well kept.

Hitler received Dr. Schacht in the morning and thanked him for his loyalty to the Third Reich. There had been nothing in Dr. Schacht's appear- ance or attitude the previous day to indicate that he anticipated yesterday's events.

On the other hand, Reuter un- derstands in well-informed circles, the re-organisation announced yes- terday had been the subject of de- liberation at a meeting of the Ger- man Cabinet at which Dr. Schacht himself was present.

It is denied on all sides that the change will result in any differ- ences in regard to the handling of Germany's finances and economy.

OFFICIAL INSISTENCE

Official circles insist that the real reason is the one announced, namely the desirability of unifying the financial and economic com- mand of the nation.

The Berlin Bourse withstood the change better than expected, and business improved towards the end, and the markets generally closed

firm.

No change is anticipated in the Nazi Government's attitude towards Germany's foreign in- debtedness, including the Dawes and Young Loans,

Regarding the talks on Jewish emigration it is hinted in usually reliable circles that Dr. Schacht might still proceed with the talks. -Reuter.

OFFICIAL STATEMENT

The following official statement has been issued :-

-PREMIER'S

BROADCAST

London, To-day. Mr. Neville Chamberlain is broadcasting from Downing Street on Monday night on Na- tional Service.

Schedules of reserved occupa- tions will be made known to the public on Tuesday, and deliveries of the Gov rnment's National Service handbook will bagia throughout the country on Wednesday. Reuter,

SLAP AT UNITED STATES

Washington, To-day.

The appointment of Dr. Walter Funk as President of the Reichs- bank in succession to Dr. Schacht was termed by a high department official here as a "slap at the United States."

Other officials said that Dr. Funk was "noted for his animosity to- wards the United States."

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OIL LAMPS OUT

An underground school for pit boys has been started at the col- lieries of Newton Chambers and Co., Thorncliffe, near Sheffield. It is their intention to overcome the difficulties caused by lack of ex- perience on the part of boys beginning work in the pit. Boys are taught two days a week. They are given a lecture for about an hour on the surface and then taken underground for about three hours in charge of a mining expert. Photo shows boys returning their safety-lamps after their practical lesson down the mine.

PALESTINE ARABS NOT SATISFIED BY GRAND MUFTI'S NOMINATIONS

Jerusalem, To-day.

Forty Arab notables from all parts of Palestine met yesterday in the house of Fakhri Bey Nashasi- bi, acting leader of the Arab Defence Party op- posing the Mufti of Jerusalem.

They declared that the Arab delegates to the Lon- don Conference appointed at Beirut did not re- present the Palestine Arabs but only the Mufti.

They telegraphed to the repre- sentatives of the Arab states at

ONLY A FIGUREHEAD ment of Commerce here

General comment in the Depart- Dr. Schacht's "dismissal," was that the Iraqi Premiers, stating that while change had no real bearing

they hoped for successful results German-American

from the Cairo conference, never- trade because Dr. Schacht had long been

theless the Palestine only

Arabs did a. "figurehead," and Germany

not consider themselves adequate- was

in the form sug- already doing everything she could ly represented to curtail trade with the United gested at Cairo, believing that such representation was "purely partisan." Reuter...

Cairo, including the Egyptian and FOREIGN

States.

The complete achievement of It is predicted, however, that all additional tasks imposed in the despite Germany's efforts to reconstruction of Greater Germany diminish purchases from the United demands uniform control over all States, such necessities as cotton, economic affairs and the money and petroleum, copper, lead and phos- capital market policy.

phates would continue to be bought

For this reason, the Fuehrer has here because Germany needs them decreed that the direction of the hadly.-Reuter..

Reich Economics' Ministry and the

C.E.C. PLENARY SESSION

Chungking, To-day.. The preliminary meeting of the

Reichsbank should be in the hands NAVAL SECRETARY Fifth Plenary Session of the Cen-

of the same person.

Dr.

AT ADMIRALTY

In consequence of this decision, the Fuehrer has released Schacht from his functions as Pre-- sident of the: Reichsbank Director-

London, To-day. ate, and appointed. in his stead, for Rear Admiral Stuart Bonham a period of four years, the present Carter has been appointed Naval Reich Economics Minister, Walther Secretary to the First Lord of Funk, who retains the post of Admiralty in succession to Rear Reich Economics Minister. Dr. Admiral Whitworth, The Schacht will be called upon to col- Naval Secretary took part in

new laborate in the solution of special raid on Zeebrugge during the Great problems."-Trans-Ocean.

War.-Trans-Océan,

PROPERTY HIT!

IN KULING RAID

Nanchang, To-day. Considerable damage

was done to foreign property during a Ja panese raid on Kuling, fainous sum- mer resort, on January 16, accord- ing to reports received here.

Several bombs landed in mission- ary residences and churches.

The foreign missions concerned tral Executive Committee of the Kuomintang was

have telegraphed their consulates" held yesterday when the date and place for

the protesting against the Japanese” official opening of the session was bombing, decided.

This, however, will be kept secret until the eye of the opening of the session.

Delegates from all parts of China, including territory now occupied by the the Japanese, are arriving

some on foot and some by car.

dally,

Our Own Correspondent.

Meanwhile, the Japanese are in- tensifying the attack on the Chinese forces round the summer resort. Fighting is going on at Changchia- shan, ́southwest of Kuling, and other points in the neighbourhood. -Central News.