CABLES.
LATEST CABLES. THROUGH RECTER'S AGENCY.}
FRENCH FINANCE PROBLEMS.
(* M. ́ÜLEMENTEL. TENDERS HIS
RESIGNATION.
PARIS, April 3rd.
H. Clementel, French Minister Finance, has resigned.
HARIJER CABLES,
SERIOUS SITUATION.
PARIS, April 2nd.
THE HONGKONG DAILY PRESS, SATURDAY, APRIL 4TH, 1925
LATEST, CABLES..
LONDON EXCHANGE.
MARKET OPENS UNSETTLED. DUE
TO FRENCH CRISIS.
LONDON, April 3rd. The exchange market opened unsettled, owing to the financial situation in France.
Frence francs were heavily offered and fluctuated violently. Belgian franes were wruiker in sympathy.
There was little effect shown on the Stock Exchange, Bat French issues were
The seriousness of the fancial situs-marked down about half per cent.
tion is engrossing public attention. t appears that the Treasury does not know which way to turn to meet its liabilities, which are aggravated by the fact that Jany milliards of short "term loans, are. maturing in the summer and the bank naie issue no longer suffices for commer cial needs.
:
PRUSSIAN PREMIER.
HERK BRAUN, SOCIALIST, IS
RE-ELECTED:
BERLIN, April 3rd The Socialist and former Premier, Herr Braun, bas beru reelected Prussian Premier.
He was elected by a majority of 220
The latest Bank of France statemerit shows that the bank notes issue is dan.votes out of 132,
gerously near the legal limit of forty-oue milliards.
The Minister of Finance, M. Clementel, in a speech in the Senate attributed the bigh water mark of the note ise, to the boarding of bank notes.
EARLIER CAHLES
PORT DARWIN BASE.
PROPOSAL NOT YET UNDER .CONSTRUCTION.
-
LONDON, April 2nd. In order to cope with this, a new issue
la the House of Commons, replying only to be employed for discounting "com. to Capt. W. Wedgwood Benn, A. W. mercial bills signed by the most solvent. Bridgeman, First Lord of the Ad- traders, is foreshadowed. It is denied miralty, stated that the establishment of
that this is inflation."
a naval base at Port Darwin was origin-
1011.
Mr. Bridgeman understood that the Commonwealth Government were not proceeding with the proposal at present. No suggestion bad been made for an Im- perial contribution.
It is mentioned that Britain, Franerally suggested by Admiral Henderson in and Belgium have agreed to market Ave hundred million gold mark's worth of Dawes scheme railway bonds in October. M. Herriot emphasised the Government'" pposition to inflation. He said there was no intention to make a fresh note issur. Tu rufie' with the situation the Guvernment desired a clean' treasury.
LATEST CABLES.
LONG CABINET SITTING.
LATER.
1:
SUMMER TIME.
LONDON, April 2nd.
two
Official summer-time begina ́at c'clock in the morning of the 10th inst
ACTION IN HOLLAND.
THE HAOL April id.
The First Chamber by 31 votes to 17 rejected a Bill designed to abolish yum- mer-time, which the Second Chamber pass
The seriousness of the crisis is indie! ated by the Cabinot meeting, which lasted till 5 o'clock in the morning, and at which M. Painleve, President of the Chamber of Deputies, was present.
The report that the Cabinet has re: fed a few weeks ago, sigued is unfounded, "
M. CLEMENTEL'S SUCCESSOR. The resignation of M. Clementel, which was accepted, "followed M. Herriot's n expected intervention in the Senate last evening, when he denied Government's intention to make a fresh note issue, M. Herriot had been urgently summoned from the Chamber to clear up a mis
derstanding among the Senatore, aris- ing from M. Clementel's speech, dealing with treasury inflation.
The former Minister. M. De Monzie, bas been nominated to succeed M. Cleinentel SIGNS OF EXCITEMENT. The fact, thist stafü "Senators almost came to blows; while M. Herriot's replies to the bombardment of questions were practically inaudible have the hubbub, reflects the general excitement culminat ing from the persistent reports of an rominent capital levy and enrrency inflation.
M. Clementel, in explaining his re- aiguation to Le Matin, revezla a disagre ment, a few days ago, in the Cabinet, which favoured the hifefest statement in the Suste regarding the financial difficul ties; whereas M. Clementel recommend-. ed new taxation on alcohol, tobacco and income tax, instead of launching vast
Jevies,
The seriousness of the issue is en- phasised in the papers, which dwell on the precariousness of the position of the whole Gaverament. They point out that the financial situation remains to he resolved.
M. Herrion is faced with further, em- barrassment ip. the vatican issue, the wote on which comes up in few days.
ORIGIN OF TROUBLE.
PARIS, April 3rd. Latterly the Government has examined" means to offset the shortage of paper in -circulation in view of commercial needs..
The
GOVERNMENT BONDS,
XRWL STOCK IS ALREADY, AT PREMIUM.
POLITICAL SITUATION FAR EASTERN CABLE CHEERFUL VIEW OF BRITAIN.
+
IN CHINA.
[FROM THE ** DAIĻY BULLETIN."]
SITUATION AT POOCHOW.
FURTHER ATTACKS MADE ON ANGLO-CHINA COLLEGIANS.
PEKING, April 2nd.
It is reported from Foochow that further attacks have been made against the families of students attending the Anglo Chiness College who continue to attend the College.
These students left the College after their families had been given three day's warning to leave the city.
The Student's Union are now demand
that the YM.C.A. and other educational institutions shall join the Union and take part in its activiting
The Union bas published circulars openly defying the authorities.
tog
The Fish Guild, apparently, has yield ed to the student's threats, and the cis- pesal of fish handled by American frms has been prevented..
NEWS.
{THROUGH XIUTER'S AGENCY.]
SHANGHAT'S CHILD. LABOUR.
INTERNATIONAL GENEVA BOARD TAKE-UP MATTER.
GENEVA, April 3rd.
At a meeting of the Managing Board of the International Labour Office, the Director-General was' requested to give attention to the question of child labour in Shanghai. He was asked to collect information with a view to discussion within the limits of the draft agreements. previously adopted by the International Labour Conferences.
JAPAN'S NAVY.
ANNOUNCEMENT OF SHIPS NOW
UNDER CONSTRUCTION,
TOKYO, April ard. The Ministry of the Navy annožners
It is feared that the activities of the students are likely to spread to other that war-ships are now under con- institutions and foreign organisations struction, of a total tonnage of 121,900.
They include: other that American.
LATE DR. SUN SEM.
اد
COFFIN FROM MOSCOW PROVES UNSATISFACTORY,
Pike, April 2nd. The remaing of Sun Yat Sen were con- Central Park to veyed from the Pyünk today.
The casket from Moscow, which arrived yesterday, proved unsatisfactory, and the body was borne to the Western Hille in the original coffin.
The Grand Master of Ceremonies su Wang Yu Sun, the personal delegate of the Chief Executive, offered sacrifices be fore the coffin at 0.30 this morning, after which the members of the Cabinet and thru Sun Yat-Sen's family performed -ites.
The coffin was then carried to a motor biarse provided by the Paking Union Medical College.
The parade from the Central Park, which began at 11 o'clock, was very similar to the parade from the Peking Union Medical College to the Central Losbob, April 2nd. Park, consisting of troops, bands, officials The Government offer of £33,000,000 and students, including representatives 1 per cent, conversion stock by tan-of the ten middle schools and 50 private
schools and several universities.
of 3
dex resulted in tenders, et £76. 18, 8
receiving-33 per cent, and above in full. "Applications totalled £83,610,000:
The stock is now quoted at one-quarter to three-eighths premium.
*
TREATY OF SCHELDT..
FRENCH AND BRITISH GIVE APPROVAL.
4.
Brussels, April 2nd.
The French Government, which with Britain is one of the protecting powers under the 1839 tresty, has signified its p proval of the Belgian and Dutch naga. Lion agreement, regulating, inter aliu, navigation on the Scheldt.
PARIS UNIVERSITY,
TWO-THIRDS OF STUDENTS ON STRIKE.
PARIA, April 2nd.·'
It is estimated that two-thirds of the Paris University students, to-day "down- ed books," and the students in fiften. out of eighteen provincial Univesities are striking in sympathy.
FOOTBALL AT HOME.
LATEST RESULTS OF GAMES IN LEAGUE.
LONDON, April 2nd.
A guard-of-honour, sent by the Chief Executive, brought up the rear of the pro севктор.
;
EARLIER CABLES.
DOHENY OIL DEAL. WORLD SITUATION IS MUCH AFFECTED.
8 first-class-cruisers.
3 second-class crnikers..
10 destroyers..
1 aeroplar mother-ship.
WEAPONS FOR ARMIY, The Army is despatching seven experts to France, Sve to the United States; and three each on England and Germany to investigate new weapons,
CHINA INDEMNITY BILL.
PROPOSALS DEFINING MEASURE FULLY DISCUSSED.
LONDON, April 2nd.
The House of Commons Committee presided over by Sir Robert W. Hamilton (L. Qrkory) further considered the China Indemnity Application Bill, and discussed at great length the 'proposals. specifically deaning the purpos which the money is to be devoted.
to
AN AMERICAN REPORT.
SOUND FINANCE.
THE AMERICAN LANGUAGE.
UNIQUE SPECIMEN OF A WEIRD
NEW TONGUE. ··
into English of the following NEA Ne prizes are offered for translations
Service message to the Manila Times, but any British reader who correctly deciphers it may be congratulated on son noteworthy mental gymnastics.
ford is a piker!
CHICAGO, March 20th.-Rufus Walling-
A penetrating and instructive report or The Present State of Great Britain' has been presented in Washington to the American ection of the International Chamber of Commerce by Mr. Basil Miles, the American Administrative Com- Behind the slickest set of pink whiskers to be found on any continent is a poker missioner of the Chamber.
face and polished or vulgar tongue that *+ The World," Mr. Miles begins, can beat you at any de luxe confidened and the British Empire, but probably money, bet adds on Joseph "knows a great deal about Great Britain game erer played.
At least police in laying down their Yellow forgets more than half of it. It has come Kid Weil, who during the past 20 years to be taken for granted.
jhaw jigged, up and down the continent "The fact is that the British Empire in a game of mental leap-frog with an of modern times is not only the meaty of pursuing officers just a wink be
hind. extensive, comprising, as it does, one-
Fake horse races, dummy stock ex fifth of the land surface of the globe- and the most populous dominion-known changes, bubble brokerages all these are to mankind but is also the wealthiest. simple arts to the Kid. Something British wealth has
for nothing or a lot for a little--that's helped not unly America to build its railways and organise permanent markets for its cotton and tobacco, but has also incidentally played a leading role in the development of four other continents."
رع
his bait TERRENCE STILL WAITE
He used this bait in his latest exploit in Detroit. There he did a little one net akit eatitled Out-Hijacking the Hijac ters
I left Terrence Ryan, of the river front and runéritaning haunts, behind with a lesson learned and minns $14,000, plus 200 cases of Scatch.
Ryan met the “Kid" in bis latest dis guise-be was "Dr. Warrington, late of Vienna, Paris, Shanghai, Berlin” with slick booze and dope-peddling plat afoot. The doctor slyly mentioned it to
yan
a
A STUPENDOUS EFFORT.
Mr. Miles continues: It is a trite saying that each of the Allies in turn, including Americn, wom the world war. It is certainly true, how- ever, that none of then played a greater part or bore a heavier burden than did Great Britain. Quite apart from the magnificent naval and military efforts of the British, it is no exaggeration to say that their contribution on the economie side was stupendous. But this, contribu tion was hy no means limited to sup plies, munitions, and shipping. While America loaned gigantic suins for the suc-writing with $14,000 evidence of good eas of the war, the amounts leaned by Great Britain for the same purpose were nearly AN great and, with, accumulated in- terest, now aggregate over 50,300,000,000
The net result bis
ately after the Armistice the United States was the only one of the great nations that was solvent in the sense that it could then pay its debts. An American Ambassador is credited with telling the British Government that the world was suffering from this very fact, and that he would accordingly like to see at least two solvent nations in existence, instead of
one.
And so the British, alone of all the realised that national great nations, credit was the basis of commercial pres- tige and determinted to pay what some consider may fairly be termed the blood money for its restoration. In after years they may be grateful for the spur that stimulated their effort, but for the pre- behind, the goad is proving a sore one. sent, with other great countries lagging
NO SUGARED PILL
It is true that the American national debt has been niultiplied by twelve times by the war; but taken in the aggregate The Committee agreed to Mr. Ronaldin England the man of moderate income McNeill's proposal that the matter be
now contributes to the annual support of Jeft to the discretion of the Advisory class did before the war, and the well-to- bis Government over six times what his
Committee.
do and rich, as a class, contribute over
It was also agreed, ou Mr. Ronald McNeill's motion, that the Advisory Committee consist of eleven persons, in order to give Chion two representatives on the Committee.
The Bill passed "the "committee stage, and will be reported to the House, of Commona as amended.
TEXT OF AMENDED BILL, The text of the China Indemnity ap plication bill. as amended by the stand- ing committee, and now issued, provides that any sum received at any time, after, December 1st, 1929, on account of China's New York, April 2nd. The all situation throught the whole indemnity shall be applied to such edu world is affected by the Doheny" oil deal. cational or other purposes as in the The deal is equivalent to the amalga. {opinion of the Foreign Secretary, would mation of the Pan-American Petroleum- be beneficial to the mutual interests of Company with the Standard Oil Com His Majesty and the Republic of China. pany of Indiapa, and is undoubtedly
The Advisory Committee in this con- the greatest in the bistory of the oil in-
action shall consist of eleven persons dustry. The combined assets exceed
appointed by the Foreign Secretary, of $500,000,000.
whom at least one shall be a woman and
The Standard Oil Company have Dow secured first rank position, not only, in
America but in the markets abroad.
CHICAGO WHEAT MARKET.
GENERAL SELLING WITH WIDE FLUCTUATIONS.
CHICAGO, April 2nd.", Wheat broke five to six and a half
two citizens of China,
England's contribution to the winning of eighteen times as much. The burden of to the the war is thus brought home people in a very literal sense and to a degree, that has approximated punis ment
There is no attempt to sugar the pill or to dodge the burden of taxation. On the contrary, it is placed squarely before the voters of the country, and very liter ally brought home to every door.
SOCIALISM AND TRADITION.
Take me on, begged Ryan." After three days of entreaty, the "doctor" did.
They met on the Canadian side, just across from Detroit, where Terrence was
faith to help fanuce the deal.
Pleuty of liquor passed between the ergotiations Ryan woke up hours after doctor and Ryan during preliminary
Dr. Warrington and the $14,000 departed.
And while polier are investigating the the part of a ramp by entering the Kid's latest exploit he bahs up into list of other men."
It is Mike Carrozzo Dago Mike," labor leader and erstwhile pal of "* Big. Fin Murphy and Vincenzo Cowan, convicted of the Dearborn station maif robbery-who claims the Kid stole bin wife.
HE'S TOWN PET." : The Kid has operated in Chicago for so long he has become a town pet Two years ago Governor Small release him from prison after he had served twe years of an eight-year term,
Dat of jail, he promised to mend his ways to go straight.
But, soun came rumblings of an alleged fake stock deal in which George Maleom 100, Detroit millionaire, was tappoked toč have been duped out of $30,000.
Two weeks ago the "Kid" again was charged with duping H. Kutter,
wealthy manufacturer of Hamilton, O., out of $38,000. And there is a record that Weil one was accused of lifting 12,000 from S. C. Langworthy, a banker of Buffalo, Wyo.
AND 80 PRGETFUL Lately the Kid has been cutting ► wide swath, giving uiters to tips, and disporting himself only as a bon vivant who has plenty of cash and inclination
can.
Referring to the late. Socialist Govern-debonair appearance. ment, Mr. Miles says:-
old
Of slender build, he is rather less than medium height, Heavy horn-rimmed glasses, giving him a studious air, and his pick Van Dyke beard, heatly trimmed and close-cropped mustache, add to his To the world he wiggles a derisiva The final result cannot be forecast. It would seem, however, that tradition will anger and says to his accusers, Really, I can't remember ever having chap, now rise to power in the industrial world, again assert its influence; that those who
met you."
Sometimes, however, the *front" whether from the ranks of Capital or of breaks down and then the "Kid” Labour, will assume the traditional re- lapsen. His "aint's ure profuse, and sponsibility which, in the past, has led when unwatched he picks his teeth' men who bad leisure from the preoccupa tion of
devote their, money-making energies to public affairs.
While the
society has changed in political life are new, custom and tradition still maintain their sway to a surprising degree.
and
the figure
Past
That's because he is a back-o'-the- varde" product, where grammar, is nok over particularly squeamish and pink whiskers are rare, indeed.
(21
Cynics insist that Britain's day is dore. ARE WIRELESS FTES LEGALI It is a fact that the further expansion of foreign trade, the re-conquest of old mur- In the Chancery Division of the High kets and the development of new out Court on March 3rd an extraordinary lets are imperatively necessary. On the application same before Mr. Justice other hand, the effort, planned by the Astbury, with the object of testing, the leaders and accepted by the people, to legality of the charges made by the Post clean house, con credit, balance Office as fees for wireleas the budget, nad
licences. chose sound condi
Robert Moffat tions of trade which have made the amateur
wireless operator w
who con British merchant famous in the is ducted bis own care, sought a bound to reap its due harvest.
tion to restrain the Festma The British Ang is stil
from handing over to the British 1. pre-eminent in Broadcasting Company 2350,000 out of the world's merchant marine, and if the
the PLAN TO DOUBLE STRENGTH IN effort outlined is accurate, taking also feet, the contention being the
amount obtained for listeners' license that, under into account British foresight in seeking the Wireless control, of oil supplies for the new deve
had no right to enl Postmaster-graphy Act of 100%, lopments of the future, this generation fect licence fees from holders of receiving will see the British Empire maintaining sets, but only from holders of transmit its conspicuous and invaluable position
ting
sets. His Lordship: Where is your interest therein Plaintif: As 'n tax- payer concerned in a-large sum of
FROM THE DAILY BULLETIN."]
JAPAN'S AIR FORCE.
SIX YEARS","
In the first division of the Ehrlich points owing to heavy rains in the south to had been recruited from all arms, is among the Great Powers of the world
League, West Ham and Notts Forest drew a goalless game, and Blackburg Hovers beat Birmingham by 7 goals to
Westerday, while the Senate was discuss ing the, hudget, M. Clementel advocated issuc of special notes, guaranteed by kommersial bills; but 11 Herriot, speak- ing shortly after, regretted that the ques- In the Southern division, Aberdare do- tion of the treasury bad heen connected feated Swaneen by three geals to one. with that of the budget. He seemed to consider that other measures should he taken to overcome the circulation dificul ties. After the sitting of the Senate, M. Clemental resigned.
In the evening, & a meeting,
attended
by
M Painleve and some of the Deputies of the Left and all the Ministers, except M. Clemente), was convened at the Quai d'Orsay
.It.
rejected every suggestion of inflation and, according to the papers, would have considered a capital levy.
After the departure of M. Painleve, the deputies in council accepted M. Olemen tel's resignation and appointed Senator De Monzie un Finance Minister-Navas.
LATEST CABLES. ABUTER'S AMERICAN SERVICE.)
** RYE FOR RUSSIA.
BALTIMORE MAKING LARGE
"SHIPMENTS.
BALTIMORE, April 3rd. Seventy million bushels of rye,"stored in elevators in Baltimore, are being shipped to Russia before April 25th, under arrangements with the Soviet
Goverancet
west and west which ended the drought.
Indefinite reports of financial troubles in Italy also depressed the market.
There was general selling with wide fluctuations.**
RAILROAD DEAL.
CEVELAND, Ouje, April 2nd.. Stockholders, in
York
the New
Torvo, April 2nd. The military air fares, which hither
separating, from May 1st, on a plan designed approximately to double the force within the next six years.
Though abolishing four army divisions, the actual personnel reduction is under 5,000.
The combined manoeuvres to place about the middle of
AIR TRAGEDY IN THE DESERT.
oney now in jeopardy. Fis. Lórdahin We are all taxpayers Plaintiff But. nobody else thought of it. Mr. Justice Astbury refused to grant an
injuction
The mystery of an air tragedy in the desert in Iraq has at length been cleared Broadcasting Company and the Poct
In the absence of representatives of the up. On July 24th of last year, Flight master-General, and adjourned the sp
William Conway Day and Fly-plication.
Lieutenant ing Officer Donald Ramsay Stewart were reported missing. Rescue machines,,
the
aner
take same day, discovered their aeroplane in a The action in which the owners of the
damaged condition, despite an Chicago-St. Louis railroad, the so-called post to study the bed of Apriro haustive search, no traes of the missing steamship Ban Ho Guen sought a declare
Nickel plate road, have vated07ering off a naval and air attack on Tokyo. whelmingly in favour of leasing their property to the new Nickel plate Com paay stockholders,
Tho Chesapeake Ohio and Rocking Valley-Pere Marquette railroads have already approved the scheme.
On March 21st, Mr. J. F. M. Carruthers,
omce
could be
tion that the owners of the Glenfallock found. It was only a
were responsible for the damage caused. few days ago that airmen, perceiving white objects on the sand of the desert, the Singapore Roads last October, com
in a collision between the two vessela came down and found that they were cluded in the bleached skeletons of two men. The on March 24th, when the Chief
Cou the Supreme Air Ministry pow announces that the bodies have
been identified as those of Sir Walter Shaw, gave judgment for the of Raja Musa estate, Kuala Selangor, shot a black panther which had caused con- the officers, after maring forced land case, which had occupied several days.
the missing officers. It is supposed that defendants. During the hearing of th siderable damage for three months. c. ing, attempted to seck amirtango at the Senior Naval Officer, Captain P beast was a fine male, measuring 8 feet 20 Jalibab, about 12 miles due north, and Stevens, accompanied. His Lordship e inches, and was in excellent condition.. lost their way in the attempt..
the bench as assessor.
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